KUNLUN ENERGY COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Stock Code: 00135.HK) ANNOUNCEMENT OF RESULTS HIGHLIGHTS OF THE FINANCIAL RESULTS OF THE GROUP Six months ended 30 June2017 RMB million | 2016 RMB million (restated) | Change RMB million % | |
Revenue | 40,078 | 33,659 | 6,419 19.07 |
Profit before income tax expense | 6,045 | 5,325 | 720 13.52 |
Profit attributable to the owners of the Company | 2,419 | 2,409 | 10 0.42 |
Adjusted EBITDA (note) | 9,495 | 8,037 | 1,458 18.14 |
RMB cent | RMB cent | RMB cent % | |
Earnings per share (Basic) | 29.97 | 29.84 | 0.13 0.44 |
Earnings per share (Diluted) Dividend per share - Interim | 28.52 NIL | 29.84 NIL | (1.32) (4.42) N/A N/A |
RMB million | RMB million | RMB million % | |
Profit/(loss) attributable to the owners of the Company (by segment) - Exploration and Production | 161 | (188) | 349 (185.64) |
- Natural Gas Sales (including LNG Processing) | 180 | 833 | (653) (78.39) |
- LNG Terminal | 313 | 94 | 219 232.98 |
- Natural Gas Pipeline | 1,913 | 1,755 | 158 9.00 |
Adjusted EBITDA (by segment) - Exploration and Production | 568 | 190 | 378 198.95 |
- Natural Gas Sales (including LNG Processing) | 2,428 | 2,511 | (83) (3.31) |
- LNG Terminal | 983 | 455 | 528 116.04 |
- Natural Gas Pipeline | 5,359 | 4,938 | 421 8.53 |
Note: Adjusted EBITDA is defined as profit before income tax expense, excluding impairment loss on property, plant and equipment and accounts receivable, interest and depreciation, depletion and amortisation.
HIGHLIGHTS OF THE FINANCIAL RESULTS OF THE GROUP (EXCLUDING EFFECT OF IMPAIRMENT LOSS ON PROPERTY, PLANT AND EQUIPMENT AND ACCOUNTS RECEIVABLE) Six months ended 30 June2017 RMB million | 2016 RMB million (restated) | Change % | |
Revenue | 40,078 | 33,659 | 19.07 |
Core profit before income tax expense Core profit attributable to the owners of the Company | 6,474 2,744 | 5,325 2,409 | 21.58 13.91 |
RMB cent | RMB cent | ||
Core earnings per share (Basic) | 33.99 | 29.84 | 13.91 |
Core earnings per share (Diluted) Dividend per share - Interim | 32.29 NIL | 29.84 NIL | 8.21 N/A |
RMB million | RMB million | ||
Core profit/(loss) attributable to the owners of the Company (by segment) - Exploration and Production | 161 | (188) | (185.64) |
- Natural Gas Sales (including LNG Processing) | 505 | 833 | (39.38) |
- LNG Terminal | 313 | 94 | 232.98 |
- Natural Gas Pipeline | 1,913 | 1,755 | 9.00 |
Note:
Core profit before income tax expense is defined as profit before income tax expense excluding impairment loss on property, plant and equipment and accounts receivable.
Core profit attributable to the owners of the Company is defined as profit attributable to the owners of the Company excluding impairment loss on property, plant and equipment and accounts receivable attributable to the owners of the Company and its related tax effect.
Core earnings per share (Basic) is calculated based on the core profit attributable to owners of the Company and weighted average number of ordinary shares in issue during the year.
Core earnings per share (Diluted) is calculated based on the core profit attributable to owners of the Company and weighted average number of ordinary shares after adjusting for the effect of convertible bonds.
The Directors of Kunlun Energy Company Limited (the "Company") announce that the unaudited consolidated results of the Company and its subsidiaries (together, the "Group") for the six months ended 30 June 2017 are as follows:
UNAUDITED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOMEFor the six months ended 30 June 2017
Six months ended 30 JuneNote | 2017 RMB million | 2016 RMB million | |
(restated) | |||
Revenue | 3 | 40,078 | 33,659 |
Other gains, net | 563 | 493 | |
Interest income | 125 | 208 | |
Purchases, services and others | (28,271) | (23,148) | |
Employee compensation costs | (1,839) | (1,783) | |
Depreciation, depletion and amortisation | (2,665) | (2,725) | |
Impairment loss on property, plant and equipment | (100) | - | |
Selling, general and administrative expenses | (1,664) | (1,182) | |
Taxes other than income taxes | (215) | (260) | |
Interest expenses | 4 | (481) | (195) |
Share of profits less losses of: | |||
- Associates | 402 | 185 | |
- Joint ventures | 112 | 73 | |
Profit before income tax expense | 5 | 6,045 | 5,325 |
Income tax expense | 6 | (1,878) | (1,374) |
Profit for the period | 4,167 | 3,951 | |
Other comprehensive income: | |||
Items that may be reclassified subsequently | |||
to profit or loss: - Exchange differences on translation of | |||
financial statements of: | |||
- Subsidiaries | 21 | (31) | |
- Associates | 5 | (21) | |
- Joint ventures | (17) | 11 |
- Fair value loss on available-for-sale
financial assets (44) (230)
Other comprehensive income for the period, net of nil tax (35) (271) Total comprehensive income for the period 4,132 3,680 UNAUDITED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME (CONTINUED)For the six months ended 30 June 2017
Six months ended 30 June 2017 2016Note RMB million RMB million
(restated)
Profit for the period attributable to:Owners of the Company 2,419 2,409
Non-controlling interests 1,748 1,542
the period attributable to: | ||
- Owners of the Company | 2,397 | 2,200 |
- Non-controlling interests | 1,735 | 1,480 |
4,132 | 3,680 |
to owners of the Company | 7 | |
- Basic (RMB cent) | 29.97 | 29.84 |
- Diluted (RMB cent) | 28.52 | 29.84 |
Kunlun Energy Co. Ltd. published this content on 23 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 August 2017 23:52:06 UTC.
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