ENN Energy Holdings ( (XNGSF) ) has released its Q4 earnings. Here is a breakdown of the information ENN Energy Holdings presented to its investors.
ENN Energy Holdings, a major player in the natural gas sector, operates as a multi-value service provider in China, focusing on natural gas sales, integrated energy solutions, and value-added services. In its latest earnings report for 2024, the company highlighted a mixed financial performance amid challenging market conditions. Despite a 3.5% decline in revenue to RMB 109,853 million, the company saw a 10.2% increase in core profit from domestic operations, reflecting strategic shifts towards domestic markets and enhanced operational efficiencies.
Key financial metrics revealed a 4.2% increase in retail gas sales volume and a 19.8% rise in integrated energy sales, showcasing the company’s robust operational capabilities. However, profit attributable to owners decreased by 12.2% to RMB 5,987 million, influenced by reduced international gas prices and a sluggish real estate market impacting the construction and installation segment. The company’s strategic focus on expanding its customer base and leveraging intelligent technologies has been pivotal in driving growth across its core business areas.
ENN Energy’s integrated energy business reported a significant 19.8% increase in sales volume, supported by advancements in intelligent systems and a growing demand for green solutions. The value-added business also saw a notable rise in revenue and gross profit, driven by innovative products and expanded customer services. The company maintained a stable financial position with a net gearing ratio of 23.2%, reflecting prudent financial management and effective cost control.
Looking ahead, ENN Energy is poised to capitalize on the evolving economic landscape by enhancing its strategic focus on customer-centric solutions and intelligent technologies. The management remains optimistic about leveraging its extensive customer base and industry expertise to drive sustainable growth and operational excellence in 2025 and beyond.