China Southern Airlines Co. Ltd. Annual Results: Standalone & Consolidated Reports

Annual Results

Results Snapshot

Figures in Million

Consolidate Annual Results

Dec'25

Dec'24

Dec'23

Dec'22

Dec'21

Dec'20

Dec'19

Net Sales

1,97,660.89

1,88,897.81

1,76,721.22

1,01,239.01

1,22,502.46

1,04,010.18

1,74,988.26

Other Operating Income

0.00

Total Operating income

1,97,660.89

1,88,897.81

1,76,721.22

1,01,239.01

1,22,502.46

1,04,010.18

1,74,988.26

Raw Material Cost

1,75,655.91

1,70,489.86

1,60,049.01

1,21,214.93

1,24,280.15

1,05,838.43

1,52,814.52

Purchase of Finished goods

0.00

(Increase) / Decrease In Stocks

0.00

Employee Cost

34,664.62

32,859.57

32,544.40

30,437.17

31,688.61

27,920.41

31,349.39

Power Cost

0.00

Manufacturing Expenses

6,022.36

6,242.96

6,550.43

6,984.25

7,474.72

7,546.72

6,627.74

Selling and Distribution Expenses

12,080.51

11,555.66

11,014.62

8,863.46

9,642.89

9,846.92

13,017.36

Other Expenses

-4,068.70

-3,910.25

-3,909.48

-3,742.14

-3,916.33

-3,546.71

-3,797.71

Total Expenditure (Excl Depreciation)

1,87,736.42

1,82,045.52

1,71,063.63

1,30,078.39

1,33,923.04

1,15,685.36

1,65,831.88

Operating Profit (PBDIT) excl Other Income

9924.5

6852.3

5657.6

-28839.4

-11420.599999999999

-11675.2

9156.4

Other Income

5,395.50

5,650.97

4,811.16

3,204.89

8,456.97

9,534.54

4,219.30

Operating Profit (PBDIT)

44,983.86

38,673.18

35,661.60

-851.23

23,090.64

22,946.94

38,559.96

Interest

6,022.36

6,242.96

6,550.43

6,984.25

7,474.72

7,546.72

6,627.74

Exceptional Items

31.45

538.86

1,101.68

-973.33

-3,502.34

-4,391.39

280.08

Gross Profit (PBDT)

22,004.98

18,407.95

16,672.21

-19,975.92

-1,777.69

-1,828.25

22,173.74

Depreciation

33,846.89

30,727.99

30,017.27

28,218.40

29,215.52

27,558.58

27,841.05

Profit Before Tax

5,146.06

2,241.09

195.58

-37,027.20

-17,101.94

-16,549.76

4,371.25

Tax

2,304.61

1,546.10

1,586.78

2,518.79

-3,487.88

-3,784.60

1,101.03

Provisions and contingencies

0.00

Profit After Tax

927.27

-1,917.99

-4,574.69

-38,024.95

-14,590.28

-12,188.70

2,993.54

Extraordinary Items

0.00

Prior Period Expenses

0.00

Other Adjustments

0.00

Net Profit

927.27

-1,917.99

-4,574.69

-38,024.95

-14,590.28

-12,188.70

2,993.54

Share in Profit of Associates

0.00

Minority Interest

1,982.51

1,945.10

1,307.21

-1,182.65

1,313.68

-1,101.22

503.46

Other related items

0.00

Consolidated Net Profit

2,909.78

27.11

-3,267.48

-39,207.60

-13,276.60

-13,289.92

3,497.00

Equity Capital

0.00

Face Value

1.11

1.06

1.1

1.12

1.22

1.19

1.12

Reserves

39,865.63

37,186.76

40,815.37

46,341.08

82,999.80

82,501.59

71,708.68

Earnings per share (EPS)

0.05

-0.11

-0.25

-2.21

-0.9

-0.87

0.24

Diluted Earnings per share

0.05

-0.11

-0.25

-2.21

-0.9

-0.87

0.24

Operating Profit Margin (Excl OI)

2.9%

1.21%

0.47%

-31.88%

-11.9%

-13.6%

3.71%

Gross Profit Margin

19.73%

17.45%

17.1%

-8.7%

9.89%

10.58%

18.41%

PAT Margin

0.47%

-1.02%

-2.59%

-37.56%

-11.91%

-11.72%

1.71%

Public Share Holdings (%)

0.0%

Pledged Promotor Holding (%)

0.0%

Annual Analysis Highlights

Net Sales

YoY Growth in year ended Dec 2025 is 4.64% vs 6.89% in Dec 2024

Consolidate Net Profit

YoY Growth in year ended Dec 2025 is 10,637.27% vs 100.83% in Dec 2024

Operating Profit (PBDIT) excl Other Income

YoY Growth in year ended Dec 2025 is 19.88% vs 7.04% in Dec 2024

Interest

YoY Growth in year ended Dec 2025 is -3.53% vs -4.69% in Dec 2024

Operating Profit Margin (Excl OI)

YoY Growth in year ended Dec 2025 has improved from Dec 2024

Compare Annual Results Of China Southern Airlines Co. Ltd. With

Select Peers

Figures in Million

Consolidate Annual Results

Change(HKD)

Change(%)

Net Sales

1,97,660.89

1,85,979.11

11,681.78

6.28%

Other Operating Income

0.00

Total Operating income

1,97,660.89

1,85,979.11

11,681.78

6.28%

Raw Material Cost

1,75,655.91

1,84,088.78

-8,432.87

-4.58%

Purchase of Finished goods

0.00

(Increase) / Decrease In Stocks

0.00

Employee Cost

34,664.62

40,178.85

-5,514.23

-13.72%

Power Cost

0.00

Manufacturing Expenses

6,022.36

6,018.90

3.46

0.06%

Selling and Distribution Expenses

12,080.51

7,424.38

4,656.13

62.71%

Other Expenses

-4,068.70

-4,619.78

551.08

11.93%

Total Expenditure (Excl Depreciation)

1,87,736.42

1,91,513.16

-3,776.74

-1.97%

Operating Profit (PBDIT) excl Other Income

9,924.47

-5,534.06

15,458.53

279.33%

Other Income

5,395.50

6,680.79

-1,285.29

-19.24%

Operating Profit (PBDIT)

44,983.86

34,488.19

10,495.67

30.43%

Interest

6,022.36

6,018.90

3.46

0.06%

Exceptional Items

31.45

-627.45

658.90

105.01%

Gross Profit (PBDT)

22,004.98

1,890.33

20,114.65

1,064.08%

Depreciation

33,846.89

33,314.11

532.78

1.60%

Profit Before Tax

5,146.06

-5,472.26

10,618.32

194.04%

Tax

2,304.61

2,084.75

219.86

10.55%

Provisions and contingencies

0.00

Profit After Tax

927.27

-1,939.07

2,866.34

147.82%

Extraordinary Items

0.00

Prior Period Expenses

0.00

Other Adjustments

0.00

Net Profit

927.27

-1,939.07

2,866.34

147.82%

Share in Profit of Associates

0.00

Minority Interest

1,982.51

-1,902.72

3,885.23

204.19%

Other related items

0.00

Consolidated Net Profit

2,909.78

-3,841.79

6,751.57

175.74%

Equity Capital

0.00

Face Value

1.11

0.00

Reserves

39,865.63

47,353.57

-7,487.94

-15.81%

Earnings per share (EPS)

0.05

-0.12

0.17

141.67%

Diluted Earnings per share

0.05

-0.12

0.17

141.67%

Operating Profit Margin (Excl OI)

2.90%

-2.96%

0.00

5.86%

Gross Profit Margin

19.73%

14.97%

0.00

4.76%

PAT Margin

0.47%

-1.04%

0.00

1.51%

Public Share Holdings (%)

0.00

0.00%

Pledged Promotor Holding (%)

0.00

0.00%

Annual - Net Sales

Net Sales 19,766.09 Million

in Dec 2025

Figures in Million

YoY Growth in year ended Dec 2025 is 4.64% vs 6.89% in Dec 2024

Annual - Consolidate Net Profit

Consolidate Net Profit 290.98 Million

in Dec 2025

Figures in Million

YoY Growth in year ended Dec 2025 is 10,637.27% vs 100.83% in Dec 2024

Annual - Operating Profit (PBDIT)

Operating Profit (PBDIT) 3,958.84 Million

in Dec 2025

Figures in Million

YoY Growth in year ended Dec 2025 is 19.88% vs 7.04% in Dec 2024

Annual - Interest

Interest 602.24 Million

in Dec 2025

Figures in Million

YoY Growth in year ended Dec 2025 is -3.53% vs -4.69% in Dec 2024

Annual - Operating Profit Margin (Excl OI)

Operating Profit Margin (Excl OI) 2.90%

in Dec 2025

Figures in %

YoY Growth in year ended Dec 2025 has improved from Dec 2024