China Airlines’ revenue last year, net profit doubled but Q1 net profit exceeded 200%

China Airlines’ revenue last year, net profit doubled but Q1 net profit exceeded 200%
On April 28, China Airlines (002928) released its 2019 annual report.The data shows that in 2019, China Airlines’ revenue and net profit doubled.Among them, operating income increased by 26 per year.93% to 54.$ 10.2 billion.96% to 5.USD 20.2 billion, deducting non-net profit increased by 164 per year.43% to 4.At 9.2 billion U.S. dollars, the net cash flow from operating activities increased by 102 each year.21% to 10.54 trillion U.S. dollars, and the basic budget revenue has increased by 99 per year.52% to 0.8360 yuan, every 10 shares found a gold dividend of 0.76 yuan (including tax).It is worth mentioning that in 2018, the attributable net profit of China Airlines and the non-net profit deduction were placed at -33 respectively.87% and -48.26%.Unlike other listed airlines, China Airlines is the only large-scale independent regional airline in China, that is, an airline that mainly operates flights between non-mainline cities.As of the end of the reporting period, China Airlines had 147 flying routes, including 141 domestic routes, 6 international routes, and 131 solo routes. The solo routes accounted for 89% of the company ‘s routes; 114 cities were airworthy, including international destination cities5; regional routes account for 42% of all domestic regional airports.As of the end of 2019, China Airlines had 38 CRJ900 series regional jets and 11 A320 series airplanes.The main business of China Airlines is air passenger transportation business, including domestic (including Hong Kong, Macao and Taiwan), international air passenger and cargo transportation business, and gradually expand the air passenger transportation business to aviation training, tourism, fresh food and other businesses.Last year, the air transport industry achieved revenue of 52.7.7 billion US dollars, an annual increase of 24.87%, accounting for 97% of total revenue.59%, gross margin is 12.01%, down by 1 every year.95%; other businesses achieve revenue1.31 trillion, an annual increase of 280.42%, accounting for 2% of total revenue.41%, gross margin is 47.26%.Passenger revenue remained the main source of revenue for China Airlines last year.According to the report’s baseline, China Airlines’ passenger revenue reached 52.6.6 billion, an annual increase of 32.79%, accounting for 97% of total revenue.39%, gross margin is 10.74%; freight revenue achieved 1080.960,000 yuan, an increase of 72 per year.65%, accounting for 0% of total revenue.20%.Last year, the operating cost of China Airlines was 47.1.2 billion, an annual increase of 28.83%, higher than the revenue growth rate, the overall gross profit margin fell by 1.3%.Jet fuel is one of the most important components of airline production costs. Changes in jet fuel market prices have a transmission impact on the production cost of gear shifts, and Changjian affects profit levels.The cost of jet fuel is the largest main business cost of China Airlines. Last year, the cost of jet fuel exceeded 31.03% to 14.7.7 billion yuan, accounting for 31% of operating costs.35%.In addition, the company’s R & D investment has increased significantly, increasing by 1182 per year.1% to 565.30,000, all R & D investment will be expensed, no capitalization will be done.The interest-bearing debts of China Airlines are mainly renminbi and US dollar debts. In the future, the company will purchase aircrafts, and the procurement costs of aviation materials overseas will gradually be affected by exchange rate changes.Last year, the impact of exchange rate changes on China Airlines ‘cash and cash equivalents was -22.210,000 yuan, compared with 187 in the same period last year.450,000 yuan.On the same day, China Airlines issued a report for the first quarter of 2020. Data show that in the first quarter of this year, China Airlines’ operating income decreased by 15% year-on-year.97% to 10.50ppm, the attributable net profit temporarily decreased by 212.50% to -9625.430,000 yuan, deducting non-net profit of 220 per degree.78% to -9710.840,000 yuan, the net cash flow from operating activities increased by 225 per year.94% to 9860.550,000 yuan, the basic profit income is -0.1602 yuan.In the first quarter of 2020, the passenger turnover of China Airlines is every 29 years.94% to 13.420,000 kilometers, of which about 30 in the country.04% to 13.120,000 kilometers, an increase of 92 in the International Decade.14%, passenger load factor temporarily reduced by 17.66% to 63.18%; cargo and mail turnover increased by 41 per year.29% to 339.38 kg kilometers, cargo and mail load factor increased by 1.21% to 4.12%.China Airlines said that in the first quarter of this year, due to the impact of the new coronavirus pneumonia epidemic, passenger travel suddenly decreased from the peak before the Spring Festival, a serious deviation occurred in February, and began to gradually resume in March.Reduce accordingly.According to the company, according to the market changes during the epidemic and the characteristics of feeder routes, a series of response measures have been taken to minimize the impact of the epidemic. Until March 2020, the average monthly flight recovery rate of the company ‘s flights reached 67%.Sauna, Ye Wang Zhang Zeyan editor Xu Chao proofreading Wang Xin reporter email: zhangzeyan @ xjbnews.com