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Xinhua Silk Road
News for Outlets

Shanghai Airport net profit falls 94.21 pct in Q1

April 29, 2020


Abstract : Shanghai International Airport Co. Ltd (SS.600009) suffered a 94.21 percent year-on-year decline in net profit in the first quarter of 2020.

BEIJING, April 29 (Xinhua) -- Shanghai International Airport Co. Ltd (SS.600009) suffered a 94.21 percent year-on-year decline in net profit  in the first quarter of 2020.

According to its first-quarter report released on Tuesday, the company which operates Pudong lnternational Airport in Shanghai, raked in 80.58 million yuan of net profit attributable to shareholders in the first quarter of this year. Its net profit after deducting non-recurrrent gains and losses in the period was 80.52 million yuan, down 94.01 percent year on year.

In this period, the company's total operating revenue fell 41.02 percent year on year to 1.636 billion yuan, as the business shrank sharply amid the COVID-19 epidemic.

Meanwhile, its operating cost increased by 30.52 percent year on year to 1.62 billion yuan in the first quarter, mainly due to the operation of the Pudong Airport Phase III expansion project launched this year. The increase of its operating costs and amortization costs and additional expense for the prevention and control of COVID-19 epidemic also added its cost in the period.

Effected by the epidemic, Pudong Airport ensured a total of 73,000 flights during the reporting period, down 42.50 percent year on year and the passenger throughput was 8.07 million, declining 57 percent year on year. (Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)


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