China International Marine Containers Co., Ltd. Provides Consolidated Earnings Guidance for the Year Ended December 31, 2017
January 29, 2018 at 04:54 am EST
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China International Marine Containers (Group) Co., Ltd. provided consolidated earnings guidance for the year ended December 31, 2017. For the year, the company expects net profit attributable to shareholders and other equity holders of the company is to be in the range of RMB 2,400,000,000 to RMB 2,800,000,000 increasing as compared with the corresponding period of last year 345% to 419%. Basic earnings per share expected to be in the range of RMB 0.78 per share to RMB 0.91 per share. The company's consolidated results for the twelve months ended December 31, 2017 as compared with the corresponding period of last year was mainly due to the following factors: In 2017, sales volume, revenue and profits from the group's container manufacturing business rapidly picked up, as a result of the revitalization of the global container shipping industry, the improvement in operation conditions for shipping enterprises and the recovery in container market demands. In 2017, the company obtained the relocation compensation of the Shenzhen Prince Bay Project Land and the investment gains from the disposal of the equity interest in the Shenzhen CIMC Electricity Commerce and Logistics Technology Co., Ltd., bringing a positive and active effect on the financial results of the company.
China International Marine Containers (Group) Co., Ltd. is a leading global producer of containers and transport equipment. Net sales break down by family of products and services as follows:
- road transport vehicles (27.9%);
- containers (22.8%): dry containers, refrigerated containers, tank containers, etc.;
- equipment for food and chemical industries (14%);
- logistics services (11.2%);
- airport equipment (6.5%): freight equipment, boarding bridges, etc.;
- petroleum equipment (5.4%);
- property development services (2.3%);
- finance services (1.8%);
- other (8.1%): primarily construction equipment (semi-trailers, tanker trucks, dump trucks, concrete mixers, garbage compressors, road sweepers, high pressure washers, etc.).
Net sales are distributed geographically as follows: China (60.2%), Asia (3.9%), Americas (18.9%), Europe (15.2%), and other (1.8%).