Tianjin Port Development announces 2019 unaudited annual results
Tianjin Port Development Holdings Limited announced its unaudited annual results for the year ended 31 December 2019. During the year under review, the Group achieved total cargo throughput of 411.83million tonnes, an increase of 3.5% over last year.
The consolidated revenue decreased by 5.0% overlast year to HK $15,077 million. Gross profit increased by 1.3% to HK$3,223million. The Group’s profit before income tax was HK$1,520 million, which included an exchange loss of HK$79.34 million, which was mainly due to an exchange loss arising from the Group’s HKD-denominated liabilities as a result of the depreciation of RMB against HKD in 2019.
Excluding the exchange loss, the Group’s profit before income tax was HK$1,599 million, an increase of 11.7% over last year. Profit attributable to shareholders of the Company increased by 0.4% over last year to HK$389 million. Basic earnings per share was HK6.3cents.
The Group achieved total non-containerised cargo throughput of221.85 million tonnes, a decrease of 1.3% overlast year. Revenue from the non-containerised cargo handling business amounted to HK$4,442 million, a decrease of 5.5% over last year. Revenue denominated in RMB decreased by 1.7%, mainly due to the decrease in non-containerised cargo throughput.
In terms of total throughput, crude oil handling volume rose by 19.0% to 28.14 million tonnes; automobiles handling grew by 10.8% to 1.64 million tonnes; metal ore handling increased by 4.2% to 104.63 million tonnes; steel handling fell by 10.2% to 10.92 million tonnes; and coal handling fell by 12.3% to 62.18 million tonnes.
The consolidated blended average unit price of the non-containerised cargo handling business fell by 2.5% to HK$27.7per tonne. The consolidated blended average unit price denominated in RMB grew by 1.2%.
The Group achieved total container throughput of 17.26million TEUs, representing an increase of 8.1% when compared to last year. Revenue from the container handling business amounted to HK$2,543 million, an increase of 17.6% over last year. Revenue denominated in RMB increased by 22.3%, mainly driven by the increase in container throughput and the consolidated effect of Tianjin Five Continents International Container Terminal Co., Ltd.’s revenue after it became a subsidiary of the Group and was then absorbed and merged by Tianjin Port Container Terminal Co., Ltd.