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%
from 2011.
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.