Dongfang Electric Corp posts USD 93m net profit in Q3, 2012

Oct 29, 2012 - Chinese power-generating equipment maker Dongfang Electric Corp (HKG:1072) today reported third-quarter net profit of CNY 581 million (USD 93m/EUR 72m), down from CNY 740 million in the same period of 2011.

The company, which makes new energy generation products, wind and hydropower machines, environmental protection and other equipment, said that earnings per share declined to CNY 0.29 from CNY 0.37 a year ago.

Third-quarter operating profit was CNY 651 million, down from CNY 927 million last year.

The company’s total revenue was CNY 9.7 billion, compared with CNY 10.3 billion in the third quarter of 2011.

For the first nine months, Dongfang Electric Corp recorded CNY 1.9 billion in net profit on revenues of CNY 29.7 billion, compared with a net profit of CNY 2.3 billion on revenues of CNY 30 billion in the same period of 2011.

From January to September 2012, the company manufactured power generation equipments with capacity of 24,604 MW, of which 5,175 MW of hydropower generation equipment and 329 MW of wind power equipment. New orders for the first nine months of the year amounted to CNY 34.59 billion.

(CNY 1 = USD 0.160/EUR 0.124)

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