BOC Aviation Reports 1h 2019 Performance

Published on : Friday, August 16, 2019

BOC Aviation Limited (HKEX Code: 2588, “BOC Aviation”) is pleased to announce its unaudited results for the six months ended 30 June 2019.

 

Robert Martin, Managing Director and Chief Executive Officer, said, “We have just achieved a major milestone in June 2019 as our cumulative net profit after tax (“NPAT”) exceeded US$4 billion since inception. BOC Aviation reported NPAT of US$321 million in the first half of 2019, an increase of 8% compared with the same period last year. Revenue rose 13% to US$930 million from US$825 million, and our fleet net book value grew 6% to US$15.9 billion from 31 December 2018, as we continued to take delivery of modern, fuel efficient aircraft. The 8% rise in the interim dividend declared underpins our continued focus on delivering good long-term returns for our shareholders.”

 

Financial Highlights

 

Our financial highlights for the six months ended 30 June 2019 are:

 

• Total revenues and other income rose 13% to US$930 million

• Net profit after tax was US$321 million, an increase of 8% over the first half of 2018

• Earnings per share of US$0.46

• Interim dividend of US$0.1388 per share

• Total assets increased 5% to US$19.2 billion as at 30 June 2019 from 31 December

2018

• Maintained strong liquidity with US$295 million in total cash and short-term deposits,

and US$3.5 billion in undrawn committed credit facilities as at 30 June 2019

• Raised more than US$1.5 billion in new financing

• Portfolio utilisation and cash collection from airline customers of 99.6% and 97.2%, respectively

 

 

Source:- BOC Aviation

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