CF Energy's revenue increased, but net profit decreased significantly for Q3 and Nine Months 2024

From GlobeNewswire: 2024-11-28 13:00:07

CF Energy Corp. announces unaudited financial results for Q3 2024: Revenue increased by 3% to RMB126.0 million, gross profit rose by 9% to RMB33.3 million, and net profit decreased by 44% to RMB4.3 million. EBITDA decreased by 2% to RMB24.9 million. Adjusted net profit for Q3 2024 was RMB4.3 million, a 32% decrease from Q3 2023.

For Nine Months 2024, revenue increased by 16% to RMB376.4 million, gross profit decreased by 12% to RMB81.6 million, and net profit decreased by 79% to RMB5.8 million. EBITDA decreased by 19% to RMB63.6 million. Adjusted net profit for Nine Months 2024 was RMB5.8 million, a 73% decrease from Nine Months 2023. CF Energy Corp. reported unaudited condensed interim consolidated financial results, showing a net income of CAD13.6 million for the first nine months of 2023. The company, previously known as Changfeng Energy Inc., is a Canadian public company traded on the TSX-V under the symbol “CFY.” They are an integrated energy provider and natural gas distribution company in China. The financial results and MD&A can be found on SEDAR or the company’s website. Forward-looking statements caution readers about risks and uncertainties. Non-IFRS financial measures like EBITDA and Adjusted Net Profit are used to evaluate the company’s performance. 1. The stock market reached record highs today, with the Dow Jones Industrial Average closing at 32,000 points, driven by strong gains in tech and healthcare sectors.

2. A new study published in a leading medical journal found that the Pfizer-BioNTech COVID-19 vaccine is 95% effective at preventing severe illness and death from the virus.

3. The United Nations reported that global carbon emissions fell by 7% in 2020 due to the COVID-19 pandemic, marking the largest decrease in emissions since World War II.

4. President Biden signed a $1.9 trillion COVID-19 relief bill into law, which includes $1,400 stimulus checks for most Americans and funding for vaccine distribution efforts.

5. SpaceX successfully launched another batch of Starlink satellites into orbit, bringing the total number of satellites in the network to over 1,000.



Read more at GlobeNewswire: CF Energy Announces Q3 and Nine Months Result of 2024