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25 September 2022 The on-line newspaper devoted to the world of transports 07:24 GMT+2

August 25, 2022

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Original news
Sinotrans records a sharp reduction in revenues quarterly generated by sea shipments

The Chinese logistics company closed the first half of the 2022 with a net profit of 2.45 billion yuan (+8.6%)

In the first half of 2022 the revenues of the Chinese logistics group Sinotrans amounted to 55.19 billion yuan (8.0 billion dollars), with a drop of -10.5% on the first half of the last year that occurred in the second quarter of 2022 when, with a total of 25.55 billion yuan, revenues are decreased by -22.0% on the corresponding period of 2021, while in the first quarter of 2022 the turnover had recorded a increase of +2.6%. Revenue reduction was caused from the decrease of -21.3% in the turnover of the activities of shipment that stood at 33.25 billion yuan, contraction that the company explained today to have been determined from a reorganization of operations aimed at reducing services that have small margins. In particular, the decrease in revenues from shipments was produced by the decrease of -28.5% of the turnover of maritime shipments that has been attested to 23.87 billion yuan, while the revenues produced by the shipments by air and rail have increased respectively of +20.9% and +53.2% rising to 4.50 billion and 3.25 billions of yuan. The other logistic activities have totaled revenues pairs to 14,91 billion yuan (+27.1%).

Sinotrans closed the first half of 2022 with a profit operating of 3.02 billion yuan (+11.7%) and with a net profit of 2.45 billion yuan (+8.6%), with a contribution of 1.27 billion from shipping activities (+13.8%) and 454 million from the other logistics activities (+2.0%).

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