China International Marine Containers Group (CIMC) is expecting a massive boost in net profits for Q1 2025.
In the announcement, made on 15 April 2025, the company said that, based on the preliminary assessment of the unaudited consolidated management accounts, it expected the consolidated net profit for the three months up to 31 March 2025 to range between €54 million (RMB 450 million) and €77.5 million (RMB 650 million).
CIMC said this represents an increase of 438 per cent to 677 per cent over the corresponding period in 2024, when it registered a profit of approximately €10 million (RMB83.635 million).
The Group’s profit projection announcement said the forecast 2025 Q1 increases in revenue and net profit, compared to last year’s Q1, were attributable to the Group’s container manufacturing business benefiting from orders received in 2024 and a lower base in the corresponding period of 2024.
In addition, the announcement noted that a loss of foreign exchange derivatives of the Group recorded a significant decrease as compared to the corresponding period in 2024.
This was due to the Group, in the first quarter of 2025, adopting a more flexible hedging strategy based on the exchange rate, to balance the exchange rate risk with the cost of hedge management.
This announcement comes after CIMC declared a $410 million USD (€357 million) profit in 2024, a 600-plus per cent increase from its 2023 figures.
Its 2024 revenue also increased by 40 per cent from the previous year to $24.5 billion USD (€21.3 billion).
In other news, CIMC Vehicles has detailed its recent Star-Chained Plan.
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