Third Quarter Revenue Increased 9.5% YoY to US $ 295.8 Million

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COSCO SHIPPING Ports Limited, a leading global port operator, today announced third quarter results for the Company and its subsidiaries for the three months and nine months ended September 30, 2021.

Highlights of third quarter 2021 results

  • Revenue increased 9.5% year-on-year to US $ 295.8 million
  • Gross margin increased 9.9% year-on-year to US $ 77.5 million
  • Profit share of joint ventures and associates increased 5.7% year-on-year to US $ 84.6 million
  • Profit attributable to shareholders of the Company increased 0.2% year-on-year to US $ 86.1 million

2021 Nine-month results highlights

  • Revenue increased 19.1% year-on-year to US $ 860.6 million
  • Gross margin increased 33.1% year-on-year to US $ 225.8 million
  • Profit share of joint ventures and associates grew 24.4% year-on-year to US $ 259.8 million
  • Profit attributable to shareholders of the Company increased 5.0% year-on-year to US $ 261.8 million
  • Profit attributable to shareholders of the Company was US $ 261.8 million, an increase of 44.8% (excluding exceptional items)

COSCO Ports (Yangzhou) Limited as well as its 51% stake in Yangzhou Yuanyang International Ports Co., Ltd. and all of the shares of Win Hanverky Investments Limited as well as its 51% interest in Zhangjiagang Win Hanverky Container Terminal Co., Ltd. and 4.59% stake in Yangzhou Yuanyang Terminal and the one-time after-tax disposal gain of US $ 7,074,000 from the disposal of Jiangsu Yangtze Petrochemical Co., Ltd.

Financial analysis
In the first 9 months period, thanks to the positive impact of our lean operating strategy and the recovery of the global market, the Company’s revenue increased by 19.1% year-on-year for reach US $ 860.6 million. Excluding special items, profit attributable to shareholders of the Company increased 44.8% year-over-year to reach US $ 261.8 million. Gross profit during the same period increased 33.1% year-on-year to $ 225.8 million.

Click here for the full press release.

For more information:
Ricky ng
COSCO SHIPPING Ports Limited

Phone. : +86 2809-8131
Fax: +86 2907-6088
Email: [email protected]

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