COSCO SHIPPING Ports announces 2022 interim results

Total equity throughput increased by 5.3% YoY to 20,494,012 TEU

COSCO SHIPPING Ports Limited today announced interim results of the company and its subsidiaries for the six months ended 30 June 2022.

COSCO SHIPPING Ports’ 1H2022 revenue increased by 24.7% YoY to US$704.6 million. Gross profit increased by 33.3% YoY to US$197.7 million. Mainly due to increase in ASP, gross profit margin
increased by 1.8 percentage points YoY to 28.1%. During the period, profit attributable to equity holders of the Company increased by 0.8% YoY to US$177.0 million.

Prospects
Although economic activities around the world in the first half of 2022 were still affected by the COVID-19 pandemic, China’s foreign trade achieved steady growth in the first half of the year. According to statistics from the General Administration of Customs, China’s total import and export value of goods amounted to RMB19.8 trillion with a YoY increase of 9.4%. Export value amounted to RMB11.14 trillion with a YoY increase of 13.2%, while import value amounted to RMB8.66 trillion with a YoY increase of 4.8%.

Leveraging on its leading position in the global ports operator industry, the Company will continue to grasp strategic development opportunities by adopting a series of measures to increase revenue per TEU, continue to strengthen sales and marketing, actively increase volume and introduce new routes from various shipping companies to continuously increase revenue; accelerate the extension of supply chain to increase growth opportunities; accelerate the development of information technology and seize the opportunities brought by digitalization.

The Group will continue to identify potential projects, tap into strategic terminals in which it has controlling stakes and highly profitable non-subsidiary terminals to build a balanced global terminal network. In particular, the Company will continue to consolidate its domestic port resources, thereby restructuring its terminals and improving the quality of assets.

Click here to view the full press release.

 

For more information:
Ricky NG
COSCO SHIPPING Ports Limited
Tel: 2809-8131
Fax: 2907-6088
ricky.ng@coscoshipping.com 


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