COSCO SHIPPING Ports (1199) Q3 2025 earnings summary

Executive summary

• Achieved strong profit growth in the first nine months of 2025, with revenue up 11.4% YoY to $1.23 billion and net profit attributable to shareholders rising 19.6% to $264.3 million.

• Overseas terminal profit surged 65.3% YoY, driven by Mediterranean and Middle East regions, while Chinese terminal profit grew 2.6%.

• Total throughput reached 113.3 million TEU, up 5.6% YoY, with Q3 throughput at 38.98 million TEU (+4.2% YoY).

Financial highlights

• Revenue for 9M2025 was $1,234.7 million (+11.4% YoY); gross profit $326.5 million (+5.7% YoY).

• EBITDA reached $674.6 million (-3.6% YoY); profit from JVs and associates was $268.8 million (+12.3% YoY).

• Net finance costs decreased 19.6% YoY to $95.0 million.

• Basic EPS for nine months was 6.94 US cents (up 13.2% YoY).

Segment performance

• Overseas subsidiaries' revenue grew 20.7% YoY, with gross profit margin up 0.9 percentage points.

• China terminals Q3 throughput up 3.1% YoY; Bohai Rim up 5.1%; Yangtze River Delta up 1.9%; Southeast Coast down 4.9%; Pearl River Delta flat; Southwest Coast up 10.7%; Overseas up 7.6%.

• Notable growth in Beibu Gulf Port (+10.7%), CSP Zeebrugge (+24.1%), and Suez Canal Container Terminal (+58.3%).

• Piraeus Container Terminal saw a 14.8% YoY decline due to Mediterranean market slowdown.