CMPort Expects Profit Growth of More than 40% in 2021

On January 28th, 2022, China Merchants Port Holdings Company Limited released its latest earnings statement and expects the group's profit for the year ending December 31st, 2021 to increase by more than 40% compared to the same period the year before.

In 2021, CMPort actively responded to the risks and challenges from the pandemic and the market conditions. It achieved a total container throughput of 135 million TEUs, an increase of 11.8% YOY. Bulk cargo throughput was 567 million tons, an increase of 38% YOY. Greater China's container throughput increased by 10.7% whereas overseas container throughput increased by 15.3%.

During the first half of 2021, the Group's profit attributable to the company's equity holders increased by approximately 204.7% compared to the same period the year before. And the full year profit is expected to increase by more than 40% compared to the same period the year before. The slowing of growth rate is mainly due to:

1) The global COVID-19 pandemic adversely affected the container and bulk cargo throughput during the first half of 2020, which resulted in a relatively low level of operating profit for the first half of 2020. By the second half of 2020, the impact of the pandemic on the Group's operating profit moderated. 

2) During the first half of 2021, the Group recorded an one-time diluted earnings of $450 million HKD from non-recurring items. Whereas in 2020, the Group recorded an one-time diluted earnings of $912 million HKD from non-recurring items (details can be found from the Group's Performance Report).
 

In the new coming year, CMPort will continue to actively adapt to the new trends in port industry and make even greater efforts to become a world-class enterprise.

Source: CMPort

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