China Merchants Port Holdings Company (144) H2 2025 earnings summary

Executive summary

• Container throughput reached 151.29 million TEUs, up 3.8% year-over-year; bulk cargoes handled fell 5.3% to 530 million tonnes.

• Revenue rose 12.8% to HK$13,354 million, driven by business volume growth.

• Profit attributable to equity holders dropped 18.5% to HK$6,457 million; recurrent profit fell 13.8%.

• Final dividend proposed at HK$0.489 per share, with a payout ratio target of at least 45%.

Financial highlights

• Gross profit increased to HK$6,505 million from HK$5,496 million year-over-year.

• Basic EPS was HK$1.538, down 18.5% from HK$1.886.

• Net cash inflow from operating activities rose 10.8% to HK$9,472 million.

• Net assets attributable to equity holders grew 6.3% to HK$110,403 million.

• Net gearing ratio stood at 19.3%.

Outlook and guidance

• Global economy expected to grow 3.3% in 2026, with trade growth moderating to 2.6%.

• Group to accelerate global presence, lean management, and innovative transformation.

• Focus on core port business, digitalization, green transition, and talent development.