Last year’s net profit molecular weight, but the expected decline

Last year’s net profit molecular weight, but the expected decline
On the evening of March 30, China Southern Airlines (600029) released its 2019 financial report.Statistics show that although China Southern’s revenue in 2019 increased by 7 year-on-year.45% rose to 1543.2.2 billion US dollars, but attributable net profit can be reduced by 11.13% to 26.5.1 billion, deducting non-net profit also showed a downward trend.The outbreak of the New Coronary Pneumonia, the aviation industry is the first to bear the brunt, exchange losses, passenger traffic and other aspects have occurred in the airline company.China Southern Airlines stated that as of February this year, the Group ‘s cumulative total transportation turnover has decreased by approximately 37% compared with the same period of the previous year. It is expected that the epidemic will adversely affect business operations and operating income in 2020, and the operating environment will be uncertain.Net profit decreased, but additional data within the range of decline shows that in 2019, China Southern Airlines achieved operating income of 1543.2.2 billion, an annual increase of 7.45%; attributable net profit is 26.5.1 billion yuan, an annual decrease of 11.13%; deduction of non-net profit is 19.5.1 billion, a decrease of 16.70%; revenue and profit increased by 1.72%, one year and zero.36%.Initially, in 2018, China Southern Airlines’ net profit attributable every 49 years.56%, deducting non-net profit twice extended by 55.07%, so it seems that China Southern Airlines’ net profit in 2019 has been greatly replaced.In 2019, the passenger traffic of China Southern Airlines is about 1.5.2 billion passengers, ranking first among Chinese airlines for 41 consecutive years, an increase of 8 over the same period last year.40%.From the perspective of passenger load factor, China Southern Airlines invested 82 in passenger seats last year.81%, increasing by 0 every year.37%.From the perspective of main business income, last year, China Southern Airlines passenger transportation revenue was 1385.02 billion yuan, accounting for 91 of the main business income.34%, an annual increase of 8.17%; cargo and mail transportation revenue is RMB 96.1.5 billion yuan, accounting for 6 of the main business income.34%, down by 4 every year.10%.According to the reported average, the net cash flow from China Southern ‘s operating activities was RMB381.2.2 billion, an increase of 94 per year.65%; the net cash flow used in investment activities is RMB146.2.4 billion, down 28 every year.69%; the net cash flow used in fundraising activities was RMB 288.4.7 billion, the net cash flow from financing activities in the same period last year was RMB 9.6.5 billion.As of the end of the reporting period, the Group’s cash and cash equivalents were RMB 18.4.9 billion yuan, with a daily decrease of 74 on December 31, 2018.29%.The company explained that it was mainly due to the further saving of capital costs during the reporting period, the reduction of “double deposits and loans” and the vigorous control of cash balances.In 2019, China Southern introduced 54 aircraft and withdrew 32 aircraft.As of the end of the reporting period, the size of China Southern Airlines’ fleet reached 862, a net increase of 22 compared with the end of the previous year.Obviously, China Southern Airlines officially withdrew from SkyTeam on January 1, 2020.China Southern Airlines said it will continue to deepen cooperation with mainstream airlines such as American Airlines, British Airways, Emirates and Qatar Airways. At the same time, it will continue to consolidate cooperation with Air France and KLM and Delta Air Lines member airlines in an independent capacity.In 2020, China Southern Airlines plans to add international flights such as Beijing Daxing-London, Beijing Daxing-Moscow, Beijing Daxing-Tokyo Haneda, Beijing Daxing-Osaka, Beijing Daxing-Em, Beijing Daxing-Dubai, Guangzhou-Minato and other flights.The cost of jet fuel dropped, and foreign exchange losses dragged down performance. In 2019, the average price of Brent crude oil was about US $ 65 per barrel, and jet fuel cost was lower than expected.Aviation fuel cost is the largest operating cost of aviation company.Serious fluctuations in international oil prices and the adjustment of the domestic jet fuel price by the National Development and Reform Commission will affect the company’s operating performance.As of the end of the reporting period, the cost of China Southern Airlines jet fuel was RMB428.1.4 billion, down by 0 every year.25%, accounting for 31% of operating costs.56% is the company’s main operating cost.China Southern Airlines said that it is expected that the consumption of fuel will remain unchanged. Every increase or decrease in fuel prices will cause China Southern Airlines ‘operating costs to increase or decrease by 42 yuan this year.810,000 yuan, compared with 42 in 2018.9.2 billion yuan.The impact of currency exchange should not be underestimated.China Southern Airlines said that the complexity of the economic and trade situation, changes in monetary policy and other factors determine the long-term uncertainty of the RMB.In early 2020, in response to the downward pressure on the economy caused by the new crown epidemic, countries have implemented monetary easing policies.According to a Reuters questionnaire, many investment banks predict that the RMB exchange rate will be 7 in 2020.0 fluctuates up and down.China Southern Airlines’ foreign currency debts are mainly US dollar debts, and the company’s USD interest-bearing liabilities account for 37% of the company’s interest-bearing debts.93%, an annual increase of 108.63%.In 2019, China Southern Airlines’ exchange loss was 14.72ppm, the exchange loss with the rating of 2018 has been reduced, but the exchange gain of China Southern Airlines in 2017 was 17.9 billion yuan.China Southern Airlines stated that the change in the exchange rate of the US dollar against the US dollar offset the impact of the company’s financial costs. Except for the other risk variables other than the exchange rate, the RMB exchange rate against the US dollar will appreciate (or depreciate) by 1% for each dollar, Will result in an increase (or decrease) of RMB 4.3.4 billion yuan.Obviously, China Southern Airlines mentioned in its financial report that high-speed rail network expansion and subdivision arrays are all seizing market share.China Southern Airlines said that the operating performance of routes where the company and the high-speed rail network overlap (especially routes under 800 kilometers) will be affected in the future; and the rise of navigation marks will also lead to increasing competition at home and abroad, and may even cause performanceCertainly shock.The epidemic is overwhelming, and the total transportation turnover decreased by 37% in February. In late January 2020, the new coronary pneumonia epidemic spread worldwide. Many countries in Asia, Europe, and the Americas have adopted travel restrictions to prevent the epidemic from increasing.Sharply reduced.As of the end of March, China’s overall epidemic control situation showed a positive trend. Several domestic provinces and cities adopted differentiated policies for resuming production and resuming production, and internal air passenger demand gradually recovered.However, China Southern Airlines said that due to the continued spread of the international epidemic and the tightening of international aviation restrictions, the Civil Aviation Administration recently issued a notice to reduce the number of international passenger flights during the epidemic prevention and control period, and the supply of international passenger traffic is expected to decrease further.According to the February operational data released by China Southern Air Force, China Southern Airlines carried 165 passengers.90,000 people, down 86 every year.44%, the number of passengers in January-February was 1309.20,000 people, down by 45 every year.95%; passenger transport capacity investment fell 73% annually.07%; passenger turnover decreased by 85 per year.11%; passenger fare 47.11%, a decrease of 38 per year.11%.China Southern Airlines said in its financial report that as of February 2020, the Group’s total transportation turnover has decreased by approximately 37% compared with the same period last year.China Southern Airlines stated that it is expected that the epidemic will adversely affect the company’s production and operation, and the specific degree of impact is uncertain.Sauna, Ye Wang Zhang Zeyan editor Xu Chao proofreading Liu Jun