BEIJING AIRPORT(00694)2025-03-27 12:35Financial Performance - In 2024, Beijing Capital International Airport recorded 433,572 aircraft movements, an increase of approximately 14.2% year-over-year[3]. - Passenger throughput reached 67,367,428, representing a year-over-year growth of about 27.4%[3]. - Operating revenue for 2024 was RMB 5,492,205,000, reflecting a year-over-year increase of approximately 20.5%[3]. - Aviation revenue amounted to RMB 2,667,662,000, up approximately 27.2% from the previous year[3]. - Non-aviation revenue was RMB 2,824,543,000, which is a year-over-year increase of about 14.7%[3]. - The net loss after tax for 2024 was RMB 1,389,745,000, improving by about 18.1% from a net loss of RMB 1,696,788,000 in the previous year[3]. - Total revenue for the year ended December 31, 2024, was RMB 5,492,205 thousand, an increase of 20.5% from RMB 4,558,524 thousand in 2023[18]. - The company reported a net loss of RMB 1,389,745 thousand for the year, an improvement from a loss of RMB 1,696,788 thousand in 2023[26]. - Basic loss per share was RMB 0.30, compared to RMB 0.37 in the previous year, indicating a reduction in loss per share[26]. Assets and Liabilities - Total assets as of December 31, 2024, were RMB 30,675,358,000, down from RMB 32,589,339,000 in the previous year[6]. - Total liabilities decreased to RMB 17,219,480,000 from RMB 17,701,536,000 year-over-year[7]. - As of December 31, 2024, the total equity of the company decreased to RMB 13,455,878,000 from RMB 14,887,803,000 at the beginning of the year, reflecting a decline of approximately 9%[9]. - The company's accumulated losses increased to RMB 4,380,344,000 by December 31, 2024, up from RMB 2,990,599,000 at the end of 2023, representing an increase of approximately 46%[9]. - The company's current liabilities exceeded current assets by RMB 10,079,058,000 as of December 31, 2024, compared to RMB 10,479,796,000 a year earlier, showing a decrease of about 4%[16]. Revenue Breakdown - The company's non-aeronautical revenue for 2024 was RMB 2,824,543,000, which grew by approximately 14.7% compared to the previous year[36]. - Franchise income, a component of non-aviation revenue, grew to RMB 1,569,928 thousand, reflecting a 12.2% increase from RMB 1,399,417 thousand[19]. - Rental income increased by 13.9% to RMB 979,803,000, driven by overall business growth at Beijing Capital Airport[40]. - Other income rose by 24.0% to RMB 5,209,000, while net financial costs decreased to RMB 278,580,000 from RMB 311,333,000 in the previous year[45]. Operating Expenses - Operating expenses decreased to RMB 5,856,756,000, a reduction of approximately 1.0% compared to the previous year[3]. - The total operating expenses for 2024 were RMB 5,856,756,000, a decrease of about 1.0% from the previous year, despite increased business volume[36]. - Depreciation and amortization costs were down by 2.6% to RMB 1,509,409,000[42]. Cash Flow and Financial Health - In 2024, the company's net cash generated from operating activities was RMB 97,602,000, compared to a net cash used of RMB 575,863,000 in 2023[51]. - As of December 31, 2024, the company's cash and cash equivalents amounted to RMB 1,427,698,000, an increase from RMB 1,281,806,000 on December 31, 2023[51]. - The company's current ratio as of December 31, 2024, was 0.23, slightly up from 0.22 on December 31, 2023[52]. - The debt-to-asset ratio increased to 56.13% as of December 31, 2024, from 54.32% a year earlier[52]. Strategic Initiatives and Future Plans - The company plans to enhance safety measures and improve operational management in 2025 to adapt to the evolving market conditions[64]. - The company aims to enhance operational efficiency and service quality through lean management and resource optimization[66]. - Plans to expand international flight routes and enhance the international route network at Beijing Capital Airport[67]. - The company is actively developing integrated transportation and air transit products to support international hub construction[67]. - Continuous optimization of contract revenue models and cost reduction strategies to boost business vitality[66]. - The company will increase the proportion of renewable energy at Beijing Capital Airport to support green airport initiatives[66]. Regulatory and Compliance - The company has adopted new and revised International Financial Reporting Standards (IFRS) effective from January 1, 2024, which are not expected to have a significant impact on its financial statements[11]. - The company has not early adopted any new IFRS that have been issued but are not yet effective, indicating a cautious approach to regulatory changes[12]. - The annual performance announcement for the year ending December 31, 2024, has been reviewed by the audit and risk management committee[69]. - The preliminary financial figures for the year ending December 31, 2024, have been approved by Deloitte, the company's auditor[68]. Shareholder Information - The company did not recommend a final dividend for the year ending December 31, 2024[3]. - The annual report and shareholder meeting notice will be timely distributed to shareholders and published on relevant websites[69].