Geely Automobile Holdings Limited Announced Annual Results for the Year Ended
31 Dec 2012
Net Profit Up 32% to RMB2.04 Billion
HONG KONG, March 25, 2013
HONG KONG, March 25, 2013 /PRNewswire/ -- Geely Automobile Holdings Limited
("Geely Automobile" / "The Group") (Stock code: 175) announced the annual
results for the year ended 31 December 2012. During the year, the total
revenue increased by 17% to RMB24.63 billion. After accounting for non
controlling interests, net profit attributable to shareholders of the Group
was up 32% from RMB1.54 billion in 2011 to RMB2.04 billion in 2012. The strong
operational cash flow during the year combined with the full exercise of all
the warrants and the partial conversion of the convertible bonds in November
2012 had resulted in much stronger financial position of the Group with net
cash of RMB1.7 billion at the end of 2012 compared with a net debt of RMB1.5
billion a year ago. The Group's Board of Directors decides to recommend
payment of a final dividend of HK$0.039 per ordinary share, increased by 39%
The Spokesmen of Geely Automobile said, "While the overall growth in the
Chinese sedan market only stabilised at 6% in 2012, the recovery in our
domestic sales coupled with the continued strong growth in our export sales
boosted our total year-on-year sales volume growth to over 15% in 2012,
compared to our original target of 9% growth."
The Group sold a total of 483,483 units of vehicles in 2012, up 15% from 2011,
of which 21% or 101,908 units were sold abroad, up 157% from last year. In the
Chinese market, the Group's sales volume in 2012 was flat at 381,575 units
compared with 2011, as the negative growth in the Chinese market in the first
eight months of 2012 was offset by the recovery of their domestic sales since
September 2012. Most of the new models launched in 2012 have continued to
perform well in 2013 so far and should continue to support the Group's overall
sales volume growth in 2013. This, together with the additional growth
contribution from exports, should allow the Group to speed up its sales growth
in 2013. As a result, the Group's Board of Directors set their 2013 sales
volume target at 560,000 units, up 16% from 2012.
The Spokesmen of Geely Automobile concluded, "Looking forward, the Group plans
to offer automatic transmissions in most of its major models, thus enhancing
the attractiveness of its products, and continues to replace its older models
with more sophisticated new models with more advanced powertrain technologies.
Further, more new SUV models and the first MPV model are scheduled to be
launched in the near future, further broadening the Group's product range."
SOURCE Zhejiang Geely Holding Group Co., Ltd.
Contact: Mr Lawrence Ang, Geely Automobile Holdings Limited, +852 2598 3388,
firstname.lastname@example.org; or Ms Tracey Tong, Prime International
Consultants Limited, +852 2891 4383, email@example.com
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