• 2014 August 28 17:04

    China Merchants Holdings container volume up by 18.1% to 38.52 million TEUs in 1H 2014

    The Board of Directors of China Merchants Holdings (International) Company Limited announces the interim results of the Company and its subsidiaries for the period ended 30 June 2014.

    Mr. Li Jianhong, Chairman of the Board, said, “Driven by contributions from the overseas projects, total container volume handled by the Group reached 38.52 million TEUs, translating to a growth of 18.1% on a year-on-year basis. Notwithstanding the presence of a slower-than-expected growth in global trade, as well as the slowing foreign trade growth in China, the Group has, backed by its continuous efforts to further refine the operational processes, to facilitate the creation of synergies across its businesses and to encourage innovation, along with factors including the increase in investment income brought by the overseas projects, delivered a stable growth in the profit in its core port operations. Profit attributable to equity holders of the Company amounted to HK$2,149 million for the six months ended 30 June 2014, an increase of 11.1% over the same period of last year, while recurrent profit attributable to equity holders of the Company grew 15.7% year-on-year to HK$2,106 million. Basic earnings per share increased by 7.5% year-on-year to 83.46 HK cents, while profit derived from the Group’s core ports operation increased by 14.6% year-on-year to HK$2,185 million.”

    Revenue generated from the Group’s core ports operation amounted to HK$10,268 million, up 7.3% year-on-year. Ports operation recorded an EBITDA totaling HK$5,221 million, and an EBIT (Note 3) of HK$3,849 million, representing a year-on-year increase of 9.3% and 9.3%, respectively.

    During the first half of the year, the Group handled 38.52 million TEUs, with a year-on-year growth of 18.1%. Container throughput handled by the Group’s ports in Mainland China ports and in Hong Kong and Taiwan were 28.53 million TEUs (or 74.1% of the Group’s total container volume) and 3.73 million TEUs (or 9.7% of the Group’s total container volume), respectively; while overseas projects in aggregate delivered a container volume of 6.26 million TEUs, contributing to 16.3% of the Group’s total container throughput, or 12 percentage points higher than that of same period last year. Performance of the Group’s key ports is shown in the table below.
    The Group handled 181 million tonnes of bulk cargo volume during the period, an increase of 2.6% year-on-year.

    • Container throughput handled rose 18.1% year-on-year to 38.52 million TEUs (1H 2013: 32.63 million TEUs);
    • Total bulk cargo volume handled was 181 million tonnes (1H 2013: 177 million tonnes), a year-on-year increase of 2.6%;
    • Profit attributable to equity holders of the Company totaled HK$2,149 million (1H 2013: HKArticleContent,935 million), up 11.1% year-on-year;
    • Recurrent profit attributable to equity holders of the Company amounted to HK$2,106 million (1H 2013: HKArticleContent,820 million), a year-on-year increase of 15.7%;
    • Profit derived from the Group’s core segment of ports operation was HK$2,185 million (1H 2013: HKArticleContent,906 million), up 14.6% year-on-year;
    • Ports operations recorded an EBITDA of HK$5,221 million (1H 2013: HK$4,776 million), an increase of 9.3% year-on-year
    • Basic earnings per share was 83.46 HK cents (1H 2013: 77.67 HK cents), up 7.5% year-on-year
    • Proposed interim dividend was 22 HK cents (1H 2013: 22 HK cents), implying payout ratio of 26.1%


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