China Everbright Water’s H1 net profit down 8% to $581.15m

Direct and operating costs jumped 25%.

China Everbright Water has reported an 8% decline in its net profit to $581.15m in the first half (H1) of the year as the company continues to expand by developing traditional and new business areas and promoting better synergistic development of asset-light and asset-heavy businesses.
 
In a regulatory filing, the company said its revenue increased by 9% to $3.35b in the first six months of 2024. Direct costs and  operating expenses, meanwhile, increased 25% to $2.08b, leading to a gross profit of $1.26b which was down 10% from last year.

China Everbright said it focused on tapping new opportunities in the past months. 

The company recently secured Anyang Municipal Waste Water Treatment Centre Phase I Project in Henan Province following the securing of Sanmenxia Waste Water Treatment Project. It also signed multiple asset-light business contracts related to industrial waste water treatment.

“In its efforts to expand its business outside China, the group leveraged its German joint venture company, E+B Umwelttechnik GmbH, to actively pursue business opportunities. It also strengthened the development of its business development team and optimised its business expansion system, laying a solid foundation for exploring opportunities in Southeast Asian markets,” the company said.

In H1, China Everbright said it invested in and secured three new projects, with an additional designed daily municipal wastewater treatment capacity of 200,000 cubic metres. It also undertook various new asset-light projects and services such as operations and maintenance, technical services, and technological processes.