CORPORATE HEADQUARTERS
278 Ji Chang Road
Guangzhou PRC 510405 Website: www.csair.com
PLACE OF BUSINESS IN HONG KONG
Unit B1, 9th Floor United Centre
95 Queensway Hong Kong
INTERNATIONAL AUDITORS
KPMG Certified Public Accountants 8th Floor, Prince’s Building 10 Chater Road
Hong Kong
PRC AUDITORS
KPMG Huazhen 8/F, Office Tower E2 Oriental Plaza No. 1 East Chang An Avenue Beijing PRC Postcode 100738
ANNUAL REPORT 2008 3
Financial Highlights
The board (the “Board”) of directors (the “Directors”) of the Company hereby presents below the consolidated results of the Group for the year ended 31 December 2008, prepared in accordance with International Financial Reporting Standards (“IFRSs”), together with the comparative figures for the corresponding period in 2007. The following consolidated results should be read in conjunction with the financial statements and the Independent Auditor’s Report contained in this annual report (the “Annual Report”).
CONSOLIDATED INCOME STATEMENT
2008 vs 2007
For the year ended 31 December 2008 RMB million 2007 RMB million 2008 HK$ million 2008 US$ million Increase/ (decrease) %
(restated)
Traffic revenue:
Passenger 50,412 49,499 57,163 1.8 Cargo and mail 3,501 3,697 3,970 (5.3)
53,913 53,196 61,133 1.3 Other operating revenue 1,375 1,205 1,559 201 14.1
Total operating revenue
Operating expenses: Flight operations Maintenance Aircraft and traffic servicing Promotion and sales General and administrative Impairment on property, plant and equipment Depreciation and amortisation Others
55,288
1.6
34,982
20.3
4,890
5.3
8,476
3.9 3,491 3,421 3,958 511 2.0 2,041 1,874
2,314 8.9
1,884
1,628.4 5,746 5,554 6,515 841 3.5 257 113 291 38 127.4
4 ANNUAL REPORT 2008
Financial Highlights
Passenger Capacity (ASK)
million
120,000
109,733 112,767 110,000 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 2007 2008
2008 2007
RMB million RMB million
(Restated)
Interest income 103 73
Interest expense Share of associates’ results Share of jointly controlled entities’ results 170 123 (Loss)/gain on derivatives financial instruments, net (124) Exchange gain, net
2,832
Gain on sale of other investments in equity securities Gain on sale of a jointly controlled entity Gain on sale of equity interest in subsidiaries Others, net
– 107 143 –
37 7 892 306
Yield (Yield per RPK)
RMB
0.65 0.61
0.61
0.60
0.55
0.50
0.45
0.40
0.35
0.30
0.25
0.20
0.15
0.10
0.05
0.00 2007 2008
2008 vs 2007
Increase/
2008 2008 (decrease)
HK$ million US$ million %
117 15 41.1 (2,291)
(2,253) (13.3)
(121.1) 193 25 38.2
(237.8)
(8.5) –– (100.0) 162 21 N/A
42 5 428.6 1,011 131 191.5
Attributable to:
Equity shareholders of the Company
(362.3)
Minority interests 37 193 43 4 (80.8)
(Loss)/profit for the year (4,786) (335.5)
Earnings per share
Basic
(364.3)
Diluted N/A
N/A
Note:
(1) The above consolidated income statement has been prepared in Renminbi (“RMB”), the national currency of the PRC. Translations of amounts from RMB into Hong Kong dollars (“HK$”) and United States dollars (“US$”) solely for the convenience of readers have been made at the rates of HK$1.00 to RMB0.8819 and US$1.00 to RMB6.8346, respectively, being the average of the buying and selling rates as quoted by the People’s Bank of China at the close of business on 31 December 2008. No representation is made that the RMB amounts could have been or could be converted into HK$ or US$ at these rates or at any other certain rates on 31 December 2008 or on any other date.
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本文鏈接地址：CHINA SOUTHERN AIRLINES COMPANY LIMITED ANNUAL REPORT 2008(2)
