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ZTO Express Q4 revenues $818.5 million, increase 29.9%

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Staff Writer | Wednesday March 13, 2019 5:15AM ET
ZTO Express
ZTO Express   ZTO Express generated parcel volume growth which surpassed the market average

ZTO Express announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2018.


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ZTO Express generated parcel volume growth which surpassed the market average by 10.5 percentage points and expanded its market share in terms of parcel volume to 16.8% by the end of 2018.

Full year adjusted net income beat consensus and was RMB4.2 billion with RMB4.4billion in cash generated from operating activities.

Fourth quarter 2018 financial highlights

Revenues were RMB5,627.5 million ($818.5 million), an increase of 29.9% from RMB4,331.0 million in the same period of 2017.

Gross profit was RMB1,550.2 million ($225.5 million), an increase of 14.6% from RMB1,353.3 million in the same period of 2017.

Net income was RMB1,278.9 million ($186.0 million), an increase of 4.7% from RMB1,221.9 million in the same period of 2017.

Adjusted EBITDA[3] was RMB1,766.0 million ($256.8 million), an increase of 24.0% from RMB1,424.3 million in the same period of 2017.

Adjusted net income[4] was RMB1,289.7 million ($187.6 million), an increase of 1.9% from RMB1,265.4 million in the same period of 2017.

Basic and diluted earnings per American depositary share ("ADS") were RMB1.62 ($0.24), a decrease of 5.8% and 5.3% from RMB1.72 and RMB1.71 in the same period of 2017, respectively.

Net cash provided by operating activities was RMB1,802.3 million ($262.1million), compared with RMB1,371.5 million in the same period of 2017.

Fiscal year 2018 financial highlights

Revenues were RMB17,604.5 million ($2,560.5 million), an increase of 34.8% from RMB13,060.1 million in 2017.

Gross profit was RMB5,364.9 million ($780.3 million), an increase of 23.5% from RMB4,345.6 million in 2017.

Net income was RMB4,387.9 million ($638.2 million), an increase of 38.9% from RMB3,158.9 million in 2017.

Adjusted EBITDA was RMB5,858.4 million ($852.1 million), an increase of 31.6% from RMB4,452.0 million in 2017.

Adjusted net income[4] was RMB4,201.1 million ($611.0 million), an increase of 30.1% from RMB3,229.6 million in 2017.

Basic and diluted earnings per American depositary share ("ADS")were RMB5.83 ($0.85) and RMB 5.82 ($0.85), respectively, an increase of 32.2% and 32.3% from RMB4.41 and RMB4.40 in 2017.

Net cash provided by operating activities was RMB4,404.1 million ($640.5 million), compared with RMB3,630.7 million in 2017.

 

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