China-based SIIC Environment has reported earnings of RMB605.1 million ($111.71 million) for FY2024 ended Dec 31, 2024, up 0.2% y-o-y.
The group’s revenue grew 0.3% y-o-y in FY2024 to RMB7.6 million.
During FY2024, the group’s construction revenue, including financial income from service concession arrangements during the construction period, decreased by 7.7% y-o-y to RMB1.805 million. The decrease was mainly from a decline in construction scale.
The group’s operation revenue with higher gross profit margin, including financial income from service concession arrangements, was RMB5.791 million, a 3.1% increase from RMB5.617 million in the same period in 2023.
SIIC reported a 6.6% y-o-y decline in financial expenses in FY2024. It averted exchange rate risks of RMB24 million in exchange losses for the period.
The group has four new projects added in 2024, including Weifang City Weicheng District WWTP O&M Project, Beihai Daguansha WWTP O&M Project 2nd Phase, Hanxi WWTP Project 3rd Phase, and Chenzhou 2nd and 4th WWTP Project.
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These projects have a designed capacity of 50,000 tonnes per day, 35,000 tonnes per day, 200,000 tonnes per day, and 160,000 tonnes per day respectively.
The final dividend proposed is 0.011 cents per ordinary share.
Shares in SIIC Environment closed flat at 15.2 cents on Feb 26.
