China Yuchai Int'l (CYD) Reports Q4 EPS of $0.74

China Yuchai Int'l (NYSE: CYD) reported Q4 EPS of $0.74. Revenue for the quarter came in at $814.6 million, versus $0 reported last year.

Financial Highlights for the Fourth Quarter of 2019

• Revenue increased by 25.4% to RMB 5.7 billion (US$ 814.6 million) compared with RMB 4.5 billion in the fourth quarter of 2018;
• Gross profit increased by 28.5% to RMB 1.1 billion (US$ 158.8 million), with gross margin of 19.5%, compared with RMB 0.9 billion and a gross margin of 19.0% in the fourth quarter of 2018;
• Operating profit decreased by 3.6% to RMB 320.8 million (US$ 46.0 million), compared with RMB 332.6 million in the fourth quarter of 2018;
• Net earnings attributable to China Yuchai \'s shareholders increased by 9.3% to RMB 209.6 million (US$ 30.0 million) compared with RMB 191.8 million in the fourth quarter of 2018;
• Basic and diluted earnings per share were RMB 5.13 (US$ 0.74), compared with RMB 4.69 for the fourth quarter of 2018;
• The total number of engines sold increased by 0.8% to 94,649 units compared with 93,881 units in the fourth quarter of 2018.

Mr. Weng Ming Hoh, President of China Yuchai, commented, "We closed out the year on a high note as we reported unit sales growth in a number of engine markets in the fourth quarter of 2019. Our growth validated our strategy of reaching multiple market segments with a broad range of advanced powertrain solutions."

"Our ongoing and significant investments in R&D and manufacturing processes enabled us to be one of the first-to-market leaders to introduce a large portfolio of engines compliant with the more stringent emission standards as those standards are undergoing nationwide implementation. The Yuchai brand will continue to be one of the technology innovators and leaders in the Chinese engine markets. During 2019, we also introduced 4 new energy powertrain systems with seven new products as part of our new strategy."

"On a separate note, on March 10, 2020, a dividend for the 2019 year of RMB 402,040,944 was approved by GYMCL shareholders for all shareholders. China Yuchai has a 76.4% ownership of GYMCL and the dividend will be paid to the Company in due course. This dividend attests to the financial stability and commitment to the Company\'s long-term shareholders during the current difficult market environment."

For earnings history and earnings-related data on China Yuchai Int'l (CYD) click here.

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