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Chinalco International Interim Net Profit Fell 49% To 170 Million Yuan
Sep 01, 2017

Chinalco international interim net profit fell 49% to 170 million yuan

Aluminum International announced 2017 interim results, achieved revenues of about 13 billion 880 million yuan (units), an increase of 58%; net profit attributable to the equity owners of about 170 million yuan, down 49%; basic earnings per share 0.06 yuan, no dividend.

In addition, in the first half of 2017, the total amount of newly signed contracts was 12 billion 960 million yuan. As of June 30, 2017, the group did not complete the contract amounted to 48 billion 810 million yuan.

Notice that the main reason is that with the economic income growth, investment enthusiasm warming, enter the peak period of construction project orders in hand, income growth significantly, and the orderly development of trade sector, the overall income increased significantly compared with the previous year.

As of June 30, 2017, the group's current liabilities amounted to $27 billion 543 million, of which trade and other payables amounted to $15 billion 816 million and short-term borrowings amounted to $10 billion 338 million. Net current assets of 7 billion 107 million yuan, up to 18.3% less than the net current assets in December 31, 2016, a decrease of 1 billion 596 million yuan, mainly in the first half of the group to repay the $300 million senior perpetual bonds, and short-term borrowing has increased.

In December 31, 2016 and June 30, 2017, the group's capital liabilities ratio was about 66.7% and 71.9% respectively. As of June 30, 2017, the gearing ratio over the year ended December 31, 2016 increased, mainly due to the group the repayment period of $300 million senior perpetual bond make cash balance scale decreased, and the scale of borrowing a certain level of growth, the net debt increased 5 billion 257 million yuan over the beginning of the group's capital debt ratio rose rapidly, but remained within the control of the target group.

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