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ʕʕঐ๕ٰ΅Ϟࠢʮ̡
(A joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock code: 01898)
ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2018
FINANCIAL HIGHLIGHTS:
• In 2018, the Group's revenue amounted to RMB104.140 billion, representing an increase of RMB22.627 billion or 27.8% as compared with 2017.
• In 2018, the profit attributable to the equity holders of the Company amounted to RMB4.488 billion, representing an increase of RMB1.121 billion as compared with 2017.
• In 2018, the basic earnings per share of the Company was RMB0.34, representing an increase of RMB0.09 as compared with 2017.
• In 2018, EBITDA amounted to RMB19.401 billion, representing an increase of RMB3.180 billion or 19.6% as compared with 2017.
• The Board recommended the payment of final dividends of RMB0.078 per share (inclusive of tax) for the year 2018, which is subject to the approval by the Shareholders at the annual general meeting to be held in 2019.
The Board of China Coal Energy Company Limited is pleased to announce the audited annual results of the Group for the year ended 31 December 2018 prepared by the Group in accordance with the International Financial Reporting Standards ("IFRS"):
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the year ended 31 December 2018
Year ended | Year ended | ||
31 December | 31 December | ||
2018 | 2017 | ||
Notes | RMB'000 | RMB'000 | |
(Restated) | |||
Revenue | 6 | 104,140,066 | 81,512,560 |
Cost of sales | |||
Materials used and goods traded | (53,878,707) | (36,183,846) | |
Staff costs | (4,541,755) | (4,201,953) | |
Depreciation and amortisation | (6,939,583) | (6,216,039) | |
Repairs and maintenance | (1,529,732) | (1,691,900) | |
Transportation costs and port expenses | (9,991,572) | (9,390,416) | |
Sales taxes and surcharges | (2,834,494) | (2,266,853) | |
Others | (6,167,158) | (5,955,236) | |
Cost of sales | (85,883,001) | (65,906,243) | |
Gross profit | 18,257,065 | 15,606,317 | |
Selling expenses | (679,078) | (626,700) | |
General and administrative expenses | (4,679,783) | (4,100,447) | |
Other income | 4,810 | 79,537 | |
Other gains and losses | (915,043) | (1,410,932) | |
Impairment losses, net of reversal | (136,397) | (251,696) | |
Profit from operations | 11,851,574 | 9,296,079 | |
Finance income | 7 | 702,878 | 566,967 |
Finance costs | 7 | (4,355,616) | (3,910,531) |
Share of profits of associates and joint ventures | 1,808,651 | 1,122,493 | |
Profit before income tax | 10,007,487 | 7,075,008 | |
Income tax expense | 8 | (2,534,776) | (1,656,129) |
Profit for the year | 7,472,711 | 5,418,879 | |
Other comprehensive (expense) income: | |||
Item that will not be reclassified to profit or loss | |||
Fair value changes on equity instruments at fair value | |||
through other comprehensive income, net of tax | (172,595) | - | |
Items that may be reclassified subsequently to | |||
profit or loss | |||
Fair value changes on debt instruments at fair value | |||
through other comprehensive income, net of tax | 20,989 | - | |
Fair value changes on available-for-sale financial assets, | |||
net of tax | - | 1,065 | |
Exchange differences arising on translation of | |||
foreign operations | (18,138) | 5,011 | |
Other comprehensive (expense) income for the year, | |||
net of tax | (169,744) | 6,076 | |
Total comprehensive income for the year | 7,302,967 | 5,424,955 |
Year ended 31 December 2018
Note
RMB'000
Year ended 31 December 2017
RMB'000 (Restated)
Profit for the year attributable to:
Equity holders of the Company 4,488,337 3,367,239
Non-controlling interests 2,984,374 2,051,640
Total comprehensive income for the year attributable to:
7,472,711 5,418,879
Equity holders of the Company 4,321,018 3,373,315
Non-controlling interests 2,981,949 2,051,640
Basic and diluted earnings per share for the profit attributable to equity holders of the Company (RMB)
7,302,967 5,424,955
10
0.34
0.25
CONSOLIDATED STATEMENT OF FINANCIAL POSITION At 31 December 2018
As at 31 December 2018
2017
Notes | RMB'000 | RMB'000 | |
(Restated) | |||
Non-current assets | |||
Property, plant and equipment | 131,907,922 | 130,501,423 | |
Investment properties | 83,458 | 85,715 | |
Mining rights | 35,552,718 | 32,784,227 | |
Intangible assets | 1,689,402 | 1,705,868 | |
Land use rights | 5,320,455 | 5,019,707 | |
Goodwill | 6,084 | 6,084 | |
Investments in associates | 16,860,313 | 16,376,591 | |
Investments in joint ventures | 2,966,392 | 2,626,321 | |
Equity instruments at fair value | |||
through other comprehensive income | 4,563,851 | - | |
Available-for-sale financial assets | - | 3,491,691 | |
Deferred income tax assets | 2,838,271 | 2,783,767 | |
Long-term receivables | 560,950 | 462,139 | |
Other non-current assets | 6,772,189 | 6,569,587 | |
209,122,005 | 202,413,120 | ||
Current assets | |||
Inventories | 8,252,752 | 7,662,087 | |
Trade receivables | 11 | 4,881,389 | 6,799,874 |
Notes receivables | 11 | - | 9,038,690 |
Debt instruments at fair value through other | |||
comprehensive income | 11 | 9,989,407 | - |
Contract assets | 1,014,869 | - | |
Prepayments and other receivables | 7,445,110 | 7,266,042 | |
Restricted bank deposits | 3,351,932 | 2,469,442 | |
Term deposits with initial terms of over three months | 12,155,112 | 6,174,311 | |
Cash and cash equivalents | 8,353,662 | 10,176,683 | |
55,444,233 | 49,587,129 | ||
TOTAL ASSETS | 264,566,238 | 252,000,249 | |
Current liabilities | |||
Trade and notes payables | 12 | 23,252,942 | 22,912,526 |
Contract liabilities | 2,478,903 | - | |
Accruals, advances and other payables | 18,072,853 | 15,638,172 | |
Taxes payable | 1,156,547 | 1,101,196 | |
Short-term bonds | - | 3,000,000 | |
Short-term borrowings | 6,307,547 | 7,596,033 | |
Current portion of long-term borrowings | 11,845,531 | 13,872,506 | |
Current portion of long-term bonds | 5,979,779 | - | |
Current portion of provision for close down, | |||
restoration and environmental costs | 13,310 | 18,950 | |
69,107,412 | 64,139,383 |
As at 31 December 2018
2017
Note | RMB'000 | RMB'000 | |
(Restated) | |||
Non-current liabilities | |||
Long-term borrowings | 45,317,056 | 44,634,977 | |
Long-term bonds | 27,911,367 | 26,866,347 | |
Deferred income tax liabilities | 5,929,183 | 5,988,603 | |
Provision | 45,713 | - | |
Provision for employee benefits | 120,480 | 78,718 | |
Provision for close down, restoration and | |||
environmental costs | 1,450,265 | 1,346,848 | |
Deferred revenue | 1,666,924 | 1,698,928 | |
Other long-term liabilities | 2,483,541 | 824,011 | |
84,924,529 | 81,438,432 | ||
Total liabilities | 154,031,941 | 145,577,815 | |
Equity | |||
Share capital | 13,258,663 | 13,258,663 | |
Reserves | 13 | 46,303,712 | 45,437,624 |
Retained earnings | 13 | 32,423,108 | 30,605,307 |
Equity attributable to equity holders of the Company | 91,985,483 | 89,301,594 | |
Non-controlling interests | 18,548,814 | 17,120,840 | |
Total equity | 110,534,297 | 106,422,434 | |
TOTAL EQUITY AND LIABILITIES | 264,566,238 | 252,000,249 |
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China Coal Energy Company Limited published this content on 15 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 March 2019 13:58:12 UTC