Financials CNOOC Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 04:08:24 2025-06-20 am EDT			5-day change	1st Jan Change
17.90 ^HKD	-0.67%		-4.28%	-6.38%

Jun. 13	Hong Kong Stocks End Lower Amid Escalation in Middle East Tensions; Oil Majors Gain	MT
Jun. 11	First crude from Guyana's fourth platform to be exported in August-September	RE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	155,372	246,111	422,200	416,609	420,506	408,750	408,705	423,362
Change	-	58.4%	71.55%	-1.32%	0.94%	-2.8%	-0.01%	3.59%
EBITDA ¹	88,695	153,215	256,436	236,716	259,311	253,558	251,073	258,886
Change	-	72.74%	67.37%	-7.69%	9.55%	-2.22%	-0.98%	3.11%
EBIT ¹	36,389	95,979	194,925	167,769	189,964	175,158	167,519	176,487
Change	-	163.76%	103.09%	-13.93%	13.23%	-7.79%	-4.36%	5.35%
Interest Paid ¹	-6,190	-6,019	-3,029	-846	-2,832	-858.3	-1,069	-1,046
Earnings before Tax (EBT) ¹	34,907	95,821	194,770	172,974	189,976	181,105	174,912	187,060
Change	-	174.5%	103.26%	-11.19%	9.83%	-4.67%	-3.42%	6.95%
Net income ¹	24,956	70,300	141,700	123,843	137,936	131,917	127,888	137,670
Change	-	181.7%	101.56%	-12.6%	11.38%	-4.36%	-3.05%	7.65%
Announcement Date	3/25/21	3/30/22	3/29/23	3/21/24	3/27/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	111,457	108,790	111,060	-	94,353	114,753	111,468	115,302	99,254	94,482	106,854	96,236	95,107	96,149
Change	-	-2.39%	2.09%	-	-	21.62%	-2.86%	3.44%	-13.92%	-4.81%	13.09%	-9.94%	-1.17%	1.1%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	43,498	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	-	-	32,932	32,113	31,648	33,382	39,719	40,012	36,928	-	36,563	30,555	30,671	-
Change	-	-	-	-2.49%	-1.45%	5.48%	18.98%	0.74%	-7.71%	-	-	-16.43%	0.38%	-
Announcement Date	8/25/22	10/27/22	3/29/23	4/27/23	8/17/23	10/24/23	4/25/24	8/28/24	10/28/24	3/27/25	4/29/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	80,812	110,233	135,878	202,355	219,875	192,064	224,545	226,770	193,736	192,754	164,596
Change	-	36.41%	23.26%	48.92%	8.66%	-12.65%	16.91%	0.99%	-14.57%	-0.51%	-14.61%
EBITDA	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	45,449	50,530	97,064	96,261	84,273	83,496	105,542	79,163	84,429	60,236
Change	-	-	11.18%	92.09%	-0.83%	-12.45%	-0.92%	26.4%	-24.99%	6.65%	-28.65%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-
Net income	14,573	33,329	-	71.89	-	63,761	-	79,731	-	-	-
Change	-	128.7%	-	-	-	-	-	-	-	-	-
Announcement Date	3/25/21	8/19/21	3/30/22	8/25/22	3/29/23	8/17/23	3/21/24	8/28/24	3/27/25	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	112,211	86,790	6,448	-30,385	-62,309	-34,220	-68,425	-115,938
Change	-	-22.65%	-92.57%	-571.23%	-105.06%	45.08%	-99.96%	-69.44%
Announcement Date	3/25/21	3/30/22	3/29/23	3/21/24	3/27/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	75,418	82,437	94,661	120,875	123,309	127,836	128,934	131,336
Change	-	9.31%	14.83%	27.69%	2.01%	3.67%	0.86%	1.86%
Free Cash Flow (FCF) ¹	6,920	65,456	-	88,868	97,582	77,071	85,194	101,704
Change	-	845.9%	-	-	9.81%	-21.02%	10.54%	19.38%
Announcement Date	3/25/21	3/30/22	3/29/23	3/21/24	3/27/25	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	57.09%	62.25%	60.74%	56.82%	61.67%	62.03%	61.43%	61.15%
EBIT Margin (%)	23.42%	39%	46.17%	40.27%	45.18%	42.85%	40.99%	41.69%
EBT Margin (%)	22.47%	38.93%	46.13%	41.52%	45.18%	44.31%	42.8%	44.18%
Net margin (%)	16.06%	28.56%	33.56%	29.73%	32.8%	32.27%	31.29%	32.52%
FCF margin (%)	4.45%	26.6%	-	21.33%	23.21%	18.86%	20.84%	24.02%
FCF / Net Income (%)	27.73%	93.11%	-	71.76%	70.74%	58.42%	66.62%	73.88%
Profitability
ROA	3.37%	9.33%	16.52%	12.8%	13.38%	12.43%	11.46%	11.01%
ROE	5.66%	15.38%	26%	19.55%	19.36%	16.78%	14.82%	14.3%
Financial Health
Leverage (Debt/EBITDA)	1.27x	0.57x	0.03x	-	-	-	-	-
Debt / Free cash flow	16.22x	1.33x	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	48.54%	33.5%	22.42%	29.01%	29.32%	31.27%	31.55%	31.02%
CAPEX / EBITDA (%)	85.03%	53.8%	36.91%	51.06%	47.55%	50.42%	51.35%	50.73%
CAPEX / FCF (%)	1,089.86%	125.94%	-	136.02%	126.36%	165.87%	151.34%	129.14%
Items per share
Cash flow per share ¹	1.844	3.312	4.402	4.409	4.645	4.632	4.524	4.861
Change	-	79.62%	32.9%	0.16%	5.34%	-0.28%	-2.32%	7.44%
Dividend per Share ¹	0.3792	0.2433	1.45	1.25	1.308	1.215	1.181	1.226
Change	-	-35.83%	495.97%	-13.79%	4.65%	-7.1%	-2.8%	3.76%
Book Value Per Share ¹	9.714	10.77	12.79	14.01	15.73	17.34	18.69	19.91
Change	-	10.88%	18.73%	9.55%	12.26%	10.22%	7.83%	6.53%
EPS ¹	0.56	1.57	3.03	2.6	2.9	2.781	2.668	2.778
Change	-	180.36%	92.99%	-14.19%	11.54%	-4.12%	-4.06%	4.13%
Nbr of stocks (in thousands)	44,647,456	44,647,456	47,566,764	47,566,764	47,529,954	47,529,954	47,529,954	47,529,954
Announcement Date	3/25/21	3/30/22	3/29/23	3/21/24	3/27/25	-	-	-