COSCO SHIPPING Ports (1199) Q1 2025 earnings summary

Executive summary

• Achieved strong profit growth in 1Q2025, driven by significant revenue increase and effective cost reduction measures.

• Total throughput reached 35,748,931 TEU, up 7.5% year-over-year, with equity throughput up 5.3% YoY to 11,059,655 TEU.

• Overseas terminals delivered exceptional profit growth, particularly in the Mediterranean, Middle East, and Northwest Europe, with operational efficiency and quality improvements despite global challenges.

Financial highlights

• Revenue rose by $381.5M (+14.7% YoY); gross profit reached $105.2M (+20.2% YoY).

• EBITDA increased to $210.4M (+13.0% YoY); profit attributable to shareholders was $83.9M (+33.5% YoY).

• Net finance costs decreased by 17.0% YoY to $29.1M.

• Basic earnings per share rose 26.7% YoY to US2.23 cents.

• Operating profit after finance income and costs reached US$38.2 million, up from US$15.7 million YoY.

Outlook and guidance

• Equity throughput growth in 2025 expected to align with industry trends.

• Long-term strategy focuses on globalization, capacity expansion, and sustainable value creation, with emphasis on lean operations, digital transformation, and green port initiatives.

• Will address external uncertainties through resilience, cost control, and technological innovation.

• Challenges include global economic slowdown, trade frictions, inflation, and geopolitical volatility.