Shanxi Coking Coal Energy Group (000983) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was ¥45.29 billion, down 18.43% year-over-year; net profit attributable to shareholders was ¥3.11 billion, down 54.10% year-over-year.

• Total assets at year-end were ¥109.95 billion, up 17.46% from the previous year; net assets attributable to shareholders were ¥36.24 billion.

• The company maintained stable operations, focused on safety, green transformation, and cost control, and distributed cash dividends of ¥1.25 billion.

Financial highlights

• Operating cash flow was ¥3.59 billion, down 73.81% year-over-year, mainly due to lower coal sales receipts.

• EBITDA to total debt ratio was 34.61%, and the interest coverage ratio was 8.36, both declining from the previous year.

• Gross margin for coal was 52.29%, and for the overall business 31.38%.

• Basic and diluted EPS were both ¥0.5475, down 55.42% year-over-year.

Outlook and guidance

• 2025 production targets: raw coal 46 million tons, coking coal 16.67 million tons, power generation 19.3 billion kWh, coke 3.5 million tons.

• Coal demand in 2025 expected to grow slightly, with supply remaining ample and market conditions relatively balanced.

• The company will focus on strengthening its core coal business, advancing mergers and acquisitions, and enhancing market influence.