Income Statement China Petroleum & Chemical Corporation

Equities

386 CNE1000002Q2

Oil & Gas Refining and Marketing

Market Closed - Hong Kong S.E. Other stock markets 01:38:32 05/09/2024 pm IST			5-day change	1st Jan Change
4.650 ^HKD	-9.00%		-12.26%	+13.69%

26/08	Exxon Says Oil and Gas to Remain Top Energy -2-	DJ
26/08	Exxon Says Oil and Gas to Remain Top Energy Sources in 2050 -- Commodities Roundup	DJ

d160633c4cec9a9111794d0a1edd3e8.npSyKGzJX80ZM_q1dbislrNDArsVSp9VPdb1GXHvRto.6OD0Rz-eAK9jVbHdFonO0MkPL-JKGfMMS5SDYyWjJ7jU7Px6CIYTqVR6tw

Published financial data: CHINA PETROLEUM & CHEMICAL CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2,90000Cr	2,04900Cr	2,68000Cr	3,25700Cr	3,14700Cr
Other Revenues, Total	6.45TCr	5.54TCr	6TCr	5.96TCr	6.4TCr
Total Revenues	2,96500Cr	2,10500Cr	2,73900Cr	3,31700Cr	3,21100Cr
Cost of Goods Sold, Total	2,38100Cr	1,59400Cr	2,07700Cr	2,68500Cr	2,56900Cr
Gross Profit	58TCr	51TCr	66TCr	63TCr	64TCr
Selling General & Admin Expenses, Total	14TCr	14TCr	16TCr	16TCr	17TCr
Exploration / Drilling Costs, Total	1.05TCr	971.6Cr	1.24TCr	1.06TCr	1.11TCr
Provision for Bad Debts	-	-	231.1Cr	-108.4Cr	-24Cr
Depreciation & Amortization - (IS)	11TCr	11TCr	12TCr	11TCr	11TCr
Impairment of Oil, Gas & Mineral Properties - (IS)	-	473.9Cr	-	-	78Cr
Other Operating Expenses	25TCr	23TCr	27TCr	27TCr	26TCr
Other Operating Expenses, Total	50TCr	50TCr	56TCr	55TCr	56TCr
Operating Income	8.18TCr	1.43TCr	11TCr	8.22TCr	8.57TCr
Interest Expense, Total	-1.7TCr	-1.52TCr	-1.5TCr	-1.68TCr	-1.81TCr
Interest And Investment Income	812.5Cr	4.25TCr	603Cr	2.03TCr	765.7Cr
Net Interest Expenses	-887.8Cr	2.74TCr	-898.8Cr	355.7Cr	-1.04TCr
Income (Loss) On Equity Invest.	1.28TCr	671.2Cr	2.33TCr	1.45TCr	619.9Cr
Currency Exchange Gains (Loss)	-17Cr	88Cr	28Cr	53Cr	131.9Cr
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	8.55TCr	4.93TCr	12TCr	10TCr	8.28TCr
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-195.5Cr	-	-	-
Gain (Loss) On Sale Of Assets	-191.8Cr	40Cr	-306.2Cr	-72Cr	299.5Cr
Asset Writedown	-34Cr	-786.6Cr	-1TCr	-566.9Cr	-186.1Cr
Other Unusual Items	664.8Cr	830.4Cr	-	-	-
EBT, Incl. Unusual Items	8.99TCr	4.81TCr	11TCr	9.44TCr	8.39TCr
Income Tax Expense	1.79TCr	621.9Cr	2.33TCr	1.88TCr	1.61TCr
Earnings From Continuing Operations	7.2TCr	4.19TCr	8.59TCr	7.56TCr	6.79TCr
Net Income to Company	7.2TCr	4.19TCr	8.59TCr	7.56TCr	6.79TCr
Minority Interest	-1.46TCr	-882.8Cr	-1.39TCr	-949Cr	-955.4Cr
Net Income - (IS)	5.75TCr	3.31TCr	7.2TCr	6.62TCr	5.83TCr
Net Income to Common Incl Extra Items	5.75TCr	3.31TCr	7.2TCr	6.62TCr	5.83TCr
Net Income to Common Excl. Extra Items	5.75TCr	3.31TCr	7.2TCr	6.62TCr	5.83TCr
Per Share Items
Net EPS - Basic	0.47	0.27	0.59	0.55	0.49
Basic EPS - Continuing Operations	0.47	0.27	0.59	0.55	0.49
Basic Weighted Average Shares Outstanding	12TCr	12TCr	12TCr	12TCr	12TCr
Net EPS - Diluted	0.47	0.27	0.59	0.55	0.49
Diluted EPS - Continuing Operations	0.47	0.27	0.59	0.55	0.49
Diluted Weighted Average Shares Outstanding	12TCr	12TCr	12TCr	12TCr	12TCr
Normalized Basic EPS	0.32	0.18	0.52	0.44	0.35
Normalized Diluted EPS	0.32	0.18	0.52	0.44	0.35
Dividend Per Share	0.31	0.13	0.47	0.36	0.34
Payout Ratio	80.06	69.51	48.78	86.02	69.9
American Depositary Receipts Ratio (ADR)	100	100	100	100	100
Supplemental Items
EBITDA	18TCr	11TCr	21TCr	17TCr	18TCr
EBITA	8.42TCr	1.67TCr	11TCr	8.45TCr	8.79TCr
EBIT	8.18TCr	1.43TCr	11TCr	8.22TCr	8.57TCr
EBITDAR	18TCr	12TCr	21TCr	18TCr	18TCr
Total Revenues (As Reported)	2,96600Cr	2,10600Cr	2,74100Cr	3,31800Cr	3,21200Cr
Effective Tax Rate - (Ratio)	19.9	12.92	21.36	19.87	19.15
Total Current Taxes	1.45TCr	1.41TCr	1.71TCr	1.7TCr	1.36TCr
Total Deferred Taxes	338.5Cr	-787.3Cr	625.8Cr	171.8Cr	244.2Cr
Normalized Net Income	3.89TCr	2.2TCr	6.25TCr	5.35TCr	4.22TCr
Interest Capitalized	101.5Cr	201.1Cr	100Cr	130.7Cr	178.8Cr
Interest on Long-Term Debt	964.6Cr	934.9Cr	1.02TCr	1.04TCr	1.07TCr
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	967.6Cr	1.03TCr	1.15TCr	1.3TCr	1.4TCr
Exploration/Drilling Costs	467.9Cr	378.8Cr	468Cr	417.5Cr	433.2Cr
Net Rental Expense, Total	452.3Cr	544.4Cr	239.3Cr	579.3Cr	234.4Cr
Imputed Operating Lease Interest Expense	266.04Cr	235.65Cr	100Cr	249.23Cr	93Cr
Imputed Operating Lease Depreciation	186.26Cr	308.75Cr	139.76Cr	330.07Cr	140.95Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	6.03TCr	8.76TCr	11TCr	9.34TCr	12TCr
Short Term Investments	6.76TCr	10TCr	11TCr	5.16TCr	4.18TCr
Trading Asset Securities, Total	331.9Cr	10L	-	20L	30L
Total Cash And Short Term Investments	13TCr	19TCr	22TCr	15TCr	16TCr
Accounts Receivable, Total	6.35TCr	4.43TCr	4.08TCr	4.99TCr	5.09TCr
Other Receivables	2.56TCr	3.5TCr	5.51TCr	5.27TCr	5.04TCr
Total Receivables	8.91TCr	7.93TCr	9.59TCr	10TCr	10TCr
Inventory	19TCr	15TCr	21TCr	24TCr	25TCr
Other Current Assets, Total	3.31TCr	3.61TCr	3.27TCr	3.13TCr	1.87TCr
Total Current Assets	45TCr	46TCr	56TCr	52TCr	53TCr
Gross Property Plant And Equipment	2,24300Cr	2,29900Cr	2,45100Cr	2,61500Cr	2,63800Cr
Accumulated Depreciation	-1,17900Cr	-1,31900Cr	-1,42800Cr	-1,52400Cr	-1,50300Cr
Net Property Plant And Equipment	1,06400Cr	98TCr	1,02300Cr	1,09200Cr	1,13500Cr
Long-term Investments	15TCr	19TCr	21TCr	23TCr	23TCr
Goodwill	869.7Cr	862Cr	859.4Cr	646.4Cr	647.2Cr
Other Intangibles, Total	3.4TCr	3.19TCr	2.97TCr	2.8TCr	2.62TCr
Deferred Tax Assets Long-Term	1.76TCr	2.51TCr	1.94TCr	2TCr	2.01TCr
Other Long-Term Assets, Total	3.14TCr	4.26TCr	4.03TCr	4.48TCr	6.92TCr
Total Assets	1,75500Cr	1,73400Cr	1,88900Cr	1,94900Cr	2,02500Cr
Liabilities
Accounts Payable, Total	20TCr	16TCr	22TCr	27TCr	26TCr
Accrued Expenses, Total	7.15TCr	7.8TCr	9.13TCr	3.78TCr	5.26TCr
Short-term Borrowings	3.12TCr	2.38TCr	2.74TCr	2.13TCr	5.98TCr
Current Portion of Long-Term Debt	5.26TCr	525.9Cr	1.08TCr	4.5TCr	1.12TCr
Current Portion of Leases	1.52TCr	1.53TCr	1.52TCr	1.6TCr	1.75TCr
Current Income Taxes Payable	326.4Cr	658.6Cr	480.9Cr	472.5Cr	145.4Cr
Unearned Revenue Current, Total	13TCr	13TCr	12TCr	13TCr	13TCr
Other Current Liabilities	7.61TCr	11TCr	15TCr	15TCr	12TCr
Total Current Liabilities	58TCr	52TCr	64TCr	67TCr	65TCr
Long-Term Debt	5.88TCr	8.38TCr	9.2TCr	11TCr	19TCr
Long-Term Leases	18TCr	17TCr	17TCr	17TCr	16TCr
Deferred Tax Liability Non Current	680.9Cr	812.4Cr	791Cr	807.9Cr	781.7Cr
Other Non Current Liabilities	5.96TCr	6.45TCr	6.28TCr	6.26TCr	6.23TCr
Total Liabilities	88TCr	85TCr	97TCr	1,01200Cr	1,06900Cr
Common Stock, Total	12TCr	12TCr	12TCr	12TCr	12TCr
Additional Paid In Capital	5.58TCr	5.58TCr	8.29TCr	8.16TCr	8TCr
Retained Earnings	53TCr	53TCr	57TCr	58TCr	60TCr
Comprehensive Income and Other	3.09TCr	3.29TCr	249.5Cr	640.7Cr	617.9Cr
Total Common Equity	74TCr	74TCr	77TCr	78TCr	80TCr
Minority Interest	14TCr	14TCr	14TCr	15TCr	15TCr
Total Equity	88TCr	88TCr	92TCr	94TCr	96TCr
Total Liabilities And Equity	1,75500Cr	1,73400Cr	1,88900Cr	1,94900Cr	2,02500Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	12TCr	12TCr	12TCr	12TCr	12TCr
ECS Total Common Shares Outstanding	12TCr	12TCr	12TCr	12TCr	12TCr
Book Value / Share	6.1	6.12	6.39	6.54	6.73
Tangible Book Value	70TCr	70TCr	74TCr	75TCr	77TCr
Tangible Book Value Per Share	5.74	5.79	6.08	6.26	6.45
Total Debt	34TCr	30TCr	32TCr	36TCr	44TCr
Net Debt	20TCr	11TCr	9.35TCr	21TCr	28TCr
Debt Equivalent Oper. Leases	3.62TCr	4.36TCr	1.91TCr	4.63TCr	1.88TCr
Minority Interest, Total (Incl. Fin. Div)	14TCr	14TCr	14TCr	15TCr	15TCr
Equity Method Investments, Total	15TCr	19TCr	21TCr	23TCr	23TCr
Account Code - Inventory Valuation	6	6	-	6	6
Inventories - Raw Materials, Total	8.85TCr	6.02TCr	11TCr	14TCr	14TCr
Inventories - Work In Process, Total	1.26TCr	1.31TCr	1.57TCr	1.45TCr	2.04TCr
Inventories - Finished Goods, Total	9.14TCr	7.84TCr	8.42TCr	9.4TCr	9.52TCr
Inventories - Others	257.6Cr	337.2Cr	251.5Cr	298.7Cr	299.4Cr
Machinery, Total	1,10300Cr	1,12300Cr	1,19100Cr	1,25800Cr	1,28300Cr
Full Time Employees	4L	4L	-	4L	4L
Accumulated Allowance for Doubtful Accounts (Supple)	184.8Cr	386Cr	403.3Cr	407.9Cr	401.6Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	5.75TCr	3.31TCr	7.2TCr	6.62TCr	5.83TCr
Depreciation & Amortization - CF	11TCr	10TCr	11TCr	11TCr	11TCr
Amortization of Goodwill and Intangible Assets - (CF)	235.7Cr	236.5Cr	269.9Cr	230.1Cr	225Cr
Impairment of Oil, Gas & Mineral Properties - (CF)	-	473.9Cr	-	-	78Cr
Depreciation & Amortization, Total	11TCr	11TCr	12TCr	11TCr	11TCr
Amortization of Deferred Charges, Total - (CF)	3Cr	9.7Cr	-	-	-
(Gain) Loss From Sale Of Asset	191.8Cr	-40Cr	306.2Cr	72Cr	-299.5Cr
(Gain) Loss on Sale of Investments - (CF)	-	195.5Cr	21Cr	20L	20L
Asset Writedown & Restructuring Costs	33Cr	786.6Cr	986.9Cr	567.5Cr	186.5Cr
Provision for Credit Losses	126.4Cr	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-1.28TCr	-671.2Cr	-2.33TCr	-1.45TCr	-619.9Cr
Provision and Write-off of Bad Debts	-	206.6Cr	231.1Cr	-108.4Cr	-24Cr
Other Operating Activities, Total	3.27TCr	-141.1Cr	2.95TCr	2.32TCr	3.45TCr
Change In Accounts Receivable	-1.18TCr	-1.76TCr	-817.7Cr	197.4Cr	397.4Cr
Change In Inventories	-928.5Cr	2.27TCr	-5.84TCr	-4.54TCr	-1.27TCr
Change In Accounts Payable	-1.52TCr	1.42TCr	8.24TCr	-3.04TCr	-2.95TCr
Cash from Operations	15TCr	17TCr	23TCr	12TCr	16TCr
Capital Expenditure	-14TCr	-13TCr	-14TCr	-17TCr	-17TCr
Sale of Property, Plant, and Equipment	70Cr	265.6Cr	147.8Cr	21Cr	536.3Cr
Cash Acquisitions	-103.1Cr	-34Cr	-110.6Cr	-788.1Cr	-11Cr
Investment in Marketable and Equity Securities, Total	714.1Cr	1.9TCr	-1.46TCr	6.34TCr	-792.5Cr
Other Investing Activities, Total	1.39TCr	762.9Cr	1.4TCr	2.18TCr	1.83TCr
Cash from Investing	-12TCr	-10TCr	-15TCr	-9.5TCr	-16TCr
Long-Term Debt Issued, Total	60TCr	56TCr	36TCr	56TCr	70TCr
Total Debt Issued	60TCr	56TCr	36TCr	56TCr	70TCr
Long-Term Debt Repaid, Total	-63TCr	-56TCr	-36TCr	-53TCr	-62TCr
Total Debt Repaid	-63TCr	-56TCr	-36TCr	-53TCr	-62TCr
Repurchase of Common Stock	-	-	-	-417.9Cr	-232.5Cr
Common Dividends Paid	-4.6TCr	-2.3TCr	-3.51TCr	-5.69TCr	-4.08TCr
Common & Preferred Stock Dividends Paid	-4.6TCr	-2.3TCr	-3.51TCr	-5.69TCr	-4.08TCr
Special Dividend Paid	-	-847.5Cr	-	-	-
Other Financing Activities, Total	-960.4Cr	-881.4Cr	-2.16TCr	-1.01TCr	-1.46TCr
Cash from Financing	-8.47TCr	-3.7TCr	-5.79TCr	-3.97TCr	2.27TCr
Foreign Exchange Rate Adjustments	15Cr	-123.9Cr	-100.3Cr	328.8Cr	-2.1Cr
Net Change in Cash	-5.16TCr	2.71TCr	2.1TCr	-1.52TCr	2.83TCr
Supplemental Items
Cash Interest Paid	616.1Cr	750.8Cr	584.9Cr	967.9Cr	799.7Cr
Cash Income Tax Paid (Refund)	1.95TCr	902.2Cr	2.38TCr	1.73TCr	1.42TCr
Levered Free Cash Flow	-2.16TCr	2.56TCr	7.01TCr	-6.67TCr	-3.4TCr
Unlevered Free Cash Flow	-1.1TCr	3.51TCr	7.95TCr	-5.62TCr	-2.27TCr
Change In Net Working Capital	2.98TCr	-4.55TCr	-4.14TCr	4.5TCr	1.93TCr
Net Debt Issued / Repaid	-2.91TCr	333.8Cr	-118.5Cr	3.15TCr	8.05TCr

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.06	0.51	3.72	2.68	2.69
Return on Total Capital	4.6	0.75	5.58	4.07	3.98
Return On Equity %	8.32	4.76	9.55	8.17	7.16
Return on Common Equity	7.9	4.47	9.5	8.49	7.33
Margin Analysis
Gross Profit Margin %	19.7	24.27	24.2	19.06	19.98
SG&A Margin	4.61	6.71	5.78	4.81	5.22
EBITDA Margin %	5.92	5.25	7.54	5.26	5.66
EBITA Margin %	2.84	0.79	4.03	2.55	2.74
EBIT Margin %	2.76	0.68	3.93	2.48	2.67
Income From Continuing Operations Margin %	2.43	1.99	3.13	2.28	2.11
Net Income Margin %	1.94	1.57	2.63	1.99	1.82
Net Avail. For Common Margin %	1.94	1.57	2.63	1.99	1.82
Normalized Net Income Margin	1.31	1.04	2.28	1.61	1.31
Levered Free Cash Flow Margin	-0.73	1.21	2.56	-2.01	-1.06
Unlevered Free Cash Flow Margin	-0.37	1.67	2.9	-1.69	-0.71
Asset Turnover
Asset Turnover	1.77	1.2	1.51	1.73