COSCO SHIPPING Ports posts 10.3 % revenue growth and record 38.92 million-TEU throughput in Q1 2026

Hong Kong – 29 April 2026 – COSCO SHIPPING Ports (01199) reported solid top-line expansion for the three months ended 31 March 2026, supported by double-digit throughput growth at its overseas terminals and steady gains across most domestic regions.

Revenue rose 10.3 % year-on-year (YoY) to USD 420.91 million, driven by an 8.9 % YoY increase in total container throughput to 38.92 million twenty-foot equivalent units (TEU). Gross profit edged up 1.7 % to USD 107.03 million as cost of sales climbed 13.6 % to USD 313.88 million.

Share of profit from joint ventures and associates advanced 13.6 % YoY to USD 90.22 million, cushioning a 24.7 % decline in operating profit after finance items to USD 28.78 million. Profit attributable to equity holders increased 2.0 % to USD 85.56 million, translating into basic earnings per share of 2.16 US cents (-3.1 % YoY).

Terminal operations • Controlling-stake terminals handled 8.19 million TEU, up 2.9 % and representing 21.0 % of group volume. • Non-controlling terminals contributed 30.73 million TEU, up 10.6 % and accounting for 79.0 % of the total. • Equity throughput grew 7.5 % YoY to 11.89 million TEU.

Regional highlights • China terminals processed 28.64 million TEU (+5.4 %), led by Bohai Rim (+7.7 %) and Pearl River Delta (+5.9 %). • Overseas volume surged 19.8 % to 10.28 million TEU on first-time inclusion of Laem Chabang terminals and a 104.3 % jump at COSCO SHIPPING Ports Chancay Peru. • Notable individual performers included Suez Canal Container Terminal (+48.2 %) and Kumport (Turkey) (+17.6 %). Piraeus Container Terminal faced a 5.6 % drop amid softer Mediterranean demand.

Balance-sheet snapshot Total assets stood at USD 12.83 billion at 31 March 2026. Cash and cash equivalents were USD 1.24 billion versus total borrowings (long-term, current portion and short-term) of USD 3.15 billion, resulting in net debt of approximately USD 1.91 billion. Total equity attributable to shareholders reached USD 6.50 billion, representing 50.3 % of total assets.

Outlook Management flagged a more challenging trade environment as global growth expectations ease and geopolitical uncertainties persist. Key strategic focuses include optimising the global terminal network, deepening cooperation with emerging markets, expanding feeder-mainline synergies and accelerating digital-intelligence and green terminal initiatives.