| Income Statement Evolution | |
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| Annual Income Statement Data |
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Actuals in M CNY |
Estimates in M CNY |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Sales | 6 769 | 6 781 | 6 700 | 7 122 | 7 443 | 7 812 | | Operating income (EBITDA) | 3 173 | 3 584 | 3 116 | 3 462 | 3 670 | 3 718 | | Operating profit (EBIT) | 3 173 | 2 723 | 2 249 | 2 525 | 2 625 | 2 809 | | Pre-Tax Profit (EBT) | 3 111 | 2 784 | 2 516 | 2 609 | 2 573 | 2 481 | | Net income | 1 871 | 1 805 | 1 686 | 1 715 | 1 685 | 1 638 | | EPS ( CNY) | 0,43 | 0,42 | 0,39 | 0,41 | 0,42 | 0,45 | | Dividend per Share ( CNY) | 0,31 | 0,31 | 0,30 | 0,30 | 0,31 | 0,32 | | Yield | 6,09% | 6,09% | 5,89% | 5,93% | 6,07% | 6,36% | | Announcement Date | 03/14/2011 01:30am | 03/21/2012 01:35am | 03/19/2013 08:47am | - | - | - |
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Actuals in M CNY |
Estimates in M CNY |
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Fiscal Period December |
2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
| Debt | - | - | - | - | - | - | | Finance | 3 860 | 4 126 | 2 363 | 3 126 | 4 483 | 5 445 | | Operating income (EBITDA) | 3 173 | 3 584 | 3 116 | 3 462 | 3 670 | 3 718 | Leverage (Debt/EBITDA) | - | - | - | - | - | - | | Capital Expenditure | 251 | 313 | 352 | 720 | 260 | 274 | | Book Value Per Share (BVPS) | 3,39 CNY | 3,50 CNY | 3,57 CNY | 3,86 CNY | 3,96 CNY | 3,92 CNY | | Cash Flow per Share | 0,59 CNY | 0,53 CNY | 0,35 CNY | 0,68 CNY | 0,75 CNY | 0,68 CNY | | Announcement Date | 03/14/2011 01:30am | 03/21/2012 01:35am | 03/19/2013 08:47am | - | - | - |
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Assessed data source : © 2013 Thomson Reuters |
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Valuation |
2013e |
2014e |
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PER (Price / EPS)
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12,5x |
12,1x |
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Capitalization / Revenue
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3,11x |
2,97x |
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EV / Revenue
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2,67x |
2,37x |
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EV / EBITDA
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5,49x |
4,81x |
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Yield (DPS / Price)
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5,93% |
6,07% |
| Profitability |
2013e |
2014e |
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Operating Margin (EBIT / Sales)
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35,5% |
35,3% |
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operating laverage (Delta EBIT / Delta Sales)
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1,96x |
0,88x |
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Net Margin (Net Profit / Revenue)
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24,1% |
22,6% |
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ROA (Net Profit / Asset)
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5,85% |
5,72% |
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ROE (Net Profit / Equities)
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10,9% |
10,8% |
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Rate of Dividend
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74,2% |
73,8% |
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