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CATL reports YoY net profit growth of 31.4% in 2017

Shirley From Gasgoo| March 13 , 2018 16:00 BJT

China battery market news, CATL revenue net profit, Geely BMW Volkswagen

Shanghai (Gasgoo)- In the latest three years, Contemporary Amperex Technology Co., Limited (CATL) achieved fast growth in revenue, net profit and assets scale, according to the company's latest prospectus. Its revenue in 2015, 2016 and 2017 are RMB 5.703 billion, RMB 14.879 billion and RMB 4.288 billion respectively, and its average annual compound growth rate reached 87.26%. It also gained net profit of RMB 951 million, RMB 3.089 billion and RMB 4.288 billion in 2015, 2016 and 2017 respectively with an average annual compound growth rate of 112.39%.

What's more, the company also saw robust growth in its total assets as well as in net assets. In 2015, 2016 and 2017, its respective total assets are RMB 8.673 billion, RMB 28.588 billion and RMB 49.663 billion at the end of each report period. And its net assets reached RMB 1.498 billion, RMB 15.791 billion and RMB 26.471 billion in 2015, 2016 and 2017 respectively. 

In 2015, 2016 and 2017, CATL's sales of power battery system reached 2.19GWh, 6.8GWh and 11.84GWh respectively. According to the statistics from Shenzhen Gaogong Industry Research Co., Ltd (GGII), sales of CATL's power battery system has been in the top three for three straight years among the sales of the world's power battery companies. Strikingly, it took the sales championship worldwide in 2017.

In the meantime, CATL has teamed up with a wide variety of well-known companies, such as Geely, Dongfeng and Changan. Moreover, CATL has become the battery supplier of world-class automakers, such as BMW and Volkswagen. On June 19, 2017, CATL and SAIC held a foundation ceremony to establish two joint-venture companies SAIC CATL and CATL SAIC, aiming to build a highly intelligent, environment-friendly and advanced manufacturing base for batteries and battery system to bolster the upgrading and transforming of China's auto industry.

In recent days, CATL is close to picking one of three sites in Europe to establish its first overseas plant. The company is exploring Germany, Hungary or Poland as the appropriate site for the plant, according to a person familiar with the plan. The expansion in Europe would quintuple its production capability and make it the world's largest EV battery cell maker.

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