COSCO Shipping Ports Announces 2022 Annual Results

Credits: Daniel Wright/Getty Images

COSCO SHIPPING Ports Limited, the world’s leading ports operator, announced the annual results of the Company and its subsidiaries ended 31 December 2022.

2022 Annual Results

COSCO SHIPPING Ports’ 2022 full year total equity throughput increased by 5.5% YoY to 42,069,050 TEU; total throughput increased by 0.6% YoY to 130,107,074 TEU; revenue increased by 19.3% YoY to US$1,441.3 million; gross profit increased by 32.1% YoY to US$429.7 million; share of profits from joint ventures and associates was US$308.0 million; profit attributable to equity holders of the Company (excluding one-off items) was US$305.2 million. The Company declared a second interim dividend of US 1.504 cents per share (equivalent to HK 11.6 cents per share).

Looking back to 2022, COSCO SHIPPING Ports has continued to improve quality and increase efficiency. By being customer-centric, the Company expanded its global terminal network while deepened the “Lean Operation” strategy, enhanced synergy with the parent company, promoted digital and low-carbon development, and at the same time seized new business opportunities.

Looking ahead to 2023, COSCO SHIPPING Ports will continue to adhere to the 14th Five-Year Plan, improve operational efficiency, expand across the global markets and capitalise on the synergies to further improve in fields such as sales and marketing, port operations and management, green, low-carbon and digital transformation, business extension and supply chain project expansion, so as to promote high quality development.

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Source: COSCO


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