Welcome to the official website of Shenzhen Expressway!

Group Station Group

深圳高速工程顾问有限公司
Company News

Current Position:Home > Group Overview > Company News > Shenzhen Expressway Announces 2014 First Quarterly Results

Shenzhen Expressway Announces 2014 First Quarterly Results

release time:2014-04-30

Shenzhen Expressway Company Limited (“Shenzhen Expressway” or the “Company”) (HKEx: 00548; SSE: 600548) and its subsidiaries (collectively, the “Group”) is pleased to announce the first quarterly results (unaudited) of the Group for the three months ended 31 March 2014 (the “Reporting Period”). The report indicates that the Group recorded net profit attributable to owners of the Company (“Net Profit”) of RMB 238million with earnings per share of RMB0.109, increased by 38.3%.

 

In the first quarter of 2014, the Group recorded a revenue of RMB845million, representing a YOY increase of 14.5%. This is mainly due to the overall growth of the toll revenue as well as YOY increase in management services income recognized from Guilong Project. Attribute to the revenue growth of the Group and the well control of costs and expenses, the Net Profit for the Reporting Period sees relatively significant increase compared to that of last year.

 

During the Reporting Period, benefitted from the combined effect of continuously improving road networks and the natural growth of traffic volume, the toll revenue derived from most of the toll highways operated or invested by the Group recorded a satisfactory growth comprehensively. The average daily toll revenue of Meiguan Expressway, Jihe East, Jihe West, Yanba Expressway, Nanguang Expressway and Shuiguan Extension in Shenzhen region recorded a YOY increase of 14.2%, 19.7%, 12.0%, 15.4%, 14.5% and 33.2% respectively. Qinglian Expressway, which connects Guangdong and Hunan, sees a 22.6% growth in average daily toll revenue compared to that of last year. However, the toll revenue of Wuhuang Expressway in Hubei province recorded a YOY decrease of 12.2%, affected by the negative factors such as the diversion effect arising from the parallel expressway, the full opening of Hurong National Expressway, as well as further implementation of traffic control measures in Wuhan area.

 

The management mentioned that the Company will adhere to its prudent operation philosophy and continually pay attention to the changes in the external environment, implement pro-active administrative and marketing strategies with a view to boosting the performance of its toll highway business and enhance the returns for shareholders.

 

Appendix I: 2014 First Quarterly Results Highlights

Unit: RMB million

1Q2014

1Q2013

Change

Revenue

845

738

14.48%

Incl: Toll revenue

763

675

13.00%

Cost of services

390

354

10.08%

Net profit attributable to owners of the Company

237

172

38.33%

Earnings per share (RMB)

0.109

0.079

38.33%

 

 

Appendix II: Operating Statistics of Each Toll Highway during the Reporting Period

Toll highway

Percentage of interests held by the Group

Percentage
of revenue consolidated

Average daily
 mixed traffic volume
(number of vehicles in thousands)

Average daily
 toll revenue
(RMB’000)

Jan ~ Mar
 201
4

YOY

Jan ~ Mar
 201
4

YOY

Guangdong Province - Shenzhen region:

Meiguan Expressway

100%

100%

129

7.9%

853

14.2%

Jihe East

100%

100%

158

22.7%

1,366

19.7%

Jihe West

100%

100%

124

15.8%

1,038

12.0%

Yanba Expressway

100%

100%

28

10.7%

426

15.4%

Yanpai Expressway

100%

100%

48

19.5%

479

8.9%

Nanguang Expressway

100%

100%

75

21.1%

752

14.5%

Shuiguan Expressway

40%

150

8.9%

1,213

4.6%

Shuiguan Extension

40%

51

66.9%

195

33.2%

Guangdong Province - other regions:

Qinglian Expressway

76.37%

100%

37

21.6%

2,586

22.6%

Yangmao Expressway

25%

36

8.2%

1,619

2.8%

Guangwu Project

30%

37

31.5%

819

11.9%

Jiangzhong Project

25%

92

10.6%

952

6.4%

GZ W2 Expressway

25%

42

12.8%

806

8.9%

Other provinces:

Wuhuang Expressway

55%

100%

42

3.6%

979

-12.2%

Changsha Ring Road

51%

16

11.1%

148

18.7%

Nanjing Third Bridge

25%

31

-1.7%

1,112

-0.4%