China Southern Airlines Company (1055) Q3 2024 earnings summary

Executive summary

• Operating revenue for Q3 2024 reached RMB 49,871 million, up 4.64% year-over-year; nine-month revenue totaled RMB 134,661 million, up 12.7% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 3,193 million, down 23.89% year-over-year; for the nine months, it was RMB 1,965 million, up 48.86% year-over-year.

• Strong aviation market demand and increased operating income drove profit growth over the nine-month period.

Financial highlights

• Basic earnings per share for Q3 was RMB 0.18, down 21.74% year-over-year; for nine months, RMB 0.11, up 57.14% year-over-year.

• Weighted average return on net assets for nine months was 5.29%, up 2.13 percentage points year-over-year.

• Net cash flows from operating activities for nine months were RMB 26,857 million, down 27.37% year-over-year.

• Total assets as of 30 September 2024 were RMB 315,952 million, up 2.18% from year-end 2023.

• Equity attributable to shareholders increased 5.15% to RMB 38,677 million.

Outlook and guidance

• Profit growth attributed to robust aviation market demand and higher operating income compared to the previous year.