China Aviation Oil H2 net profit up 68.3% at US$60.5 million

[SINGAPORE] China Aviation Oil posted a net profit of US$60.5 million for its second half of 2025, up 68.3 per cent from US$36 million in the year-ago period.

This translated to an earnings per share (EPS) of US$0.0703, 68.2 per cent higher than US$0.0418 in the previous corresponding period.

The group said on Thursday (Feb 26) that the improvements were due to an increase in gross profit and share of results from its associates, but were partially offset by the increase in expenses and income tax expenses.

H2 revenue stood at US$7.9 billion, a marginal decline of 1.3 per cent from US$8 billion in H2 2024, driven mainly by a decrease in oil prices.

For the full year, the group posted a record net profit of US$110.5 million, a 41.1 per cent year-on-year increase from US$78.4 million, driven by higher gross profit and higher share of results from associates.

Gross profits from operations rose 73.9 per cent to US$72.8 million.

Share of results from associates climbed 31.2 per cent to US$60.2 million, led by Shanghai Pudong International Airport Aviation Fuel Supply Company, which posted a 29.1 per cent increase in contributions to US$57.4 million, from US$44.5 million in FY2024, amid higher refuelling volumes.

The group’s full-year EPS stood at US$0.1285, an increase of 41.1 per cent from an EPS of US$0.0911 in FY2024.

Revenue rose 5.9 per cent on the year to US$16.4 billion from US$15.5 billion.

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As at Dec 31, 2025, net asset value per share stood at US$1.2528, compared to US$1.1466 as at end-2024.

Cash and cash equivalents rose to US$687 million as at Dec 31, 2025, from US$500.3 million in the same period a year ago.

The board proposed a final dividend per share of S$0.0496 for the financial year ended Dec 31, up from S$0.0372 for the prior financial year, with the record and payment date to be announced in due course. This represents a dividend payout of 30 per cent of the group’s annual consolidated net profits.

In terms of outlook, the company noted that global civil aviation sector is set for a 4.9 per cent increase in passenger numbers to 5.2 billion in 2026, according to data from the International Air Transport Association.

China Aviation Oil chief executive Lin Yi said the company maintains a “cautiously optimistic stance” for 2026, as it intends to capitalise on rising demand in key markets and actively pursue new opportunities within the low-carbon business.

The counter closed Wednesday S$1.5 per cent or S$0.03 lower at S$1.98.