Shanghai (Gasgoo)- CATL's annual net profit attributable to shareholders of the listed company is forecasted to stand between RMB4.064 billion and RMB4.911 billion, surging 20% to 45% compared to 2018, the Ningde-based battery giant announced on Jan. 21.
Excluding the impact of certain no-recurring gains and losses, the company expects its 2019 net profit to leap 15%-35% year on year to around RMB3.598 billion-4.223 billion.
（Photo source: CATL)
CATL attributed its anticipated profit growth to three main reasons: (1) the fast-growing new energy vehicle (NEV) industry boosted the market demands over power batteries; (2) company's strengthened market expansion made its battery capacity gradually unleashed, thus improving the outputs and sales accordingly; (3) the continuous reinforcement on expense control lowered the ratio of cost to income.
CATL also boasts increasingly more market shares. China's installed capacity of power batteries grew 9.2% over a year ago to 62.2GWh, according to the data offered by the China Automotive Power Battery Industry Innovation Alliance (CAPBIIA), of which 31.46GWh belonged to CATL, whose market share was up by nearly 10 percentage points to 50.57%.
The company has now served as the power battery supplier to multiple global automakers, such as Honda, Hyundai, Toyota, Volvo, Volkswagen, Jaguar Land Rover and Daimler Trucks & Buses.
The German premium carmaker BMW Group said in last November its order volume from CATL would be increased to 7.3 billion euros for the 2020-2031 period, up from the initial volume of 4 billion euros under a contract signed in 2018.
The rising market and orders have promoted the battery manufacturer to ramp up its production capacity. In October 2019, CATL held the groundbreaking ceremony of its first overseas factory in Thuringia, a state in east-central Germany. The Germany-based factory would create about 600 jobs and reach production of 14 GWh by 2022.
Besides, CATL kicked off on December 24 the construction of its power battery manufacturing base in Yibin, Sichuan province, which features an expected annual capacity of 30GWh.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:email@example.comSeller Service:firstname.lastname@example.org