CNOOC Limited Reports Higher Profit and Revenue for 2024

CNOOC Limited sees growth in profit and revenues in fiscal 2024. The company's profit attributable to equity shareholders rose to RMB137.94 billion, with earnings per share increasing to RMB2.90.

Date: 27-03-2025

AI Rating: 7

Earnings Per Share (EPS)
CNOOC Limited reported an increase in earnings per share, growing to RMB2.90 from RMB2.60. This growth in EPS indicates that the company is effectively generating more profit per issued share, which could be a positive signal for investors.

Net Income
The profit attributable to equity shareholders also grew, which reached RMB137.94 billion compared to RMB123.84 billion from the previous year. This rise suggests that CNOOC is improving its profitability, positively influencing investor sentiment.

Revenue Growth
Operating revenues increased slightly to RMB420.51 billion from RMB416.61 billion last year. While the growth is modest, it reinforces the company’s ability to sustain its revenue levels, which is crucial for its long-term viability.

Dividend Recommendation
The recommended final dividend of HK$0.66 per share (tax inclusive) is a positive move, indicating that the company is in a position to return value to shareholders, further enhancing investor confidence.

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