129764880453750000_82Iron II 2011 net profit drop in 46%
"Zhuangao financial networks" owned by reporter Zhao Lulu enterprises of the central China railway construction enterprises of iron II (600528.SH) announced on March 16, 2011
diablo 3 gold, annual financial reports, company annual revenues $ 59.52 billion (YOY9%), complete the net profit of 523 million Yuan (YOY-46%), EPS $ 0.36, The corresponding level of ROE to 10%. Iron II Board of Directors said: "in 2011, the abnormal face serious macro-economic situation and the sharp contraction of the market for railway construction, better completion of the goals of the Board of the company" 2011 new signed a contract for $ 51.718 billion, for the annual plan of 80.81%, representing a decrease of 2010,Reduce 22.34%.
By the end of 2011, the outstanding contracts amounted to $ 65.5 billion, and 2010 was flat.
Looking ahead to 2012, iron II plans a new contract in amount of $ 60.4 billion, contract Engineering Task $ 36.4 billion, operating income of $ 59 billion, is expected to cost $ 55.5 billion of business. Iron II in worsening cash flow from operating activities for the year,Change-1.55 billion to $ 723 million dollars in the same period last year, and over a year earlier to 313.72%. Company mainly because of: under the influence of national macro credit tightening, the project owners generally cash-strapped, especially in railway project construction funds are not in place, unable to pay progress payment on time and normal examination of the contract price. In addition, due to increased bank borrowingsAnd cause an increase in borrowing costs, company financial cost $ 265 million for the year, rose 192%. Worthy of note is the 2011 iron II consolidated gross profit margin in the years 6.31%, representing a comprehensive decline in gross margin of 0.38%. There are three main reasons for the decline in gross profit margin: is the project budget adjustments (engineering change design and material transfer error claims) lag; The second is under the influence of national macro-control, some projects there are owners of investment funds are not in place, resulting in slower time, cost more, lack of contributions to the sector its gross margin; three is due to increase the intensity of material sales, material income grow faster this year, due to material sales margin lower, diluted the integrated gross margin. Iron II intends to 2011 equity total 1.46 billion shares as the base of the end of the year, every 10 cash bonus $ 1 delivery (including tax).
No capital reserve shall be converted into share capital for the year. According to the valuetool platform statistics 2011 iron II in 4th quarter revenues of $ 16.47 billion yuan, down 16%, per cent higher than 4%, and net earnings of $ 111 million,Fell 61%, 555% per cent higher than. To 4 quarters
diablo 3 power leveling, three consecutive quarters of operating income continued to rise. Effective income tax rate for the quarter IV 28%, compared with the last quarter fell by 19%.
Cash poor creativity, cash flow from operating activities in the fourth quarter share of the revenues-7%. According to valuetoolStatistics, iron in the past one quarter only livelihood security second Bureau has 2011 EPS forecast
tera power leveling, forecast value is $ 0.42.
Companies complete the net profit for the year is expected value of 85% for the year 2012. Iron II on March 15 in close to $ 5.34, than the previous session 3%. Earnings (TTM) is 14.9 times, book (TTM) is 1.5 times. (Securities market weekly Syndication) "author:" zhuangao financial network "reporter Zhao Lulu" (
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