Trip.com Group Limited (TCOM) annual results, year to 31 December 2011: revenue CNY 3,726 million, from the 20-F
Trip.com Group Limited files a 20-F with the SEC once a year, in renminbi. In the year to 31 December 2011 it reported revenue of CNY 3,726 million ($577 million at the year's average rate), up 21.5% on the year before. Its profit attributable to shareholders was CNY 1,076 million, up 2.7%.
this yearthe year beforeIn renminbi as filed. Hover a bar for its figure.
Income statement (profit and loss)
Figures in
| Year to | Dec 2010 | Dec 2011 |
|---|---|---|
| Revenue | 3,067 | 3,726 |
| Cost of sales | 625 | 805 |
| Gross profit | 2,256 | 2,693 |
| Research and development | 454 | 601 |
| Operating profit | 1,054 | 1,066 |
| Profit before tax | 1,191 | 1,290 |
| Income tax | 205 | 262 |
| Profit for the year | 1,052 | 1,085 |
| Profit attributable to shareholders | 1,048 | 1,076 |
| Filing | 20-F | 20-F |
CNY million, from the 20-F on the SEC's EDGAR, linked in the last row, on the US GAAP tags the company filed.
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A line the company does not file under the standard tag is left out rather than estimated.CNY per ordinary share, as filed.
Cash flow
| Year to | Dec 2010 | Dec 2011 |
|---|---|---|
| Cash from operations | 1,550 | n/a |
| Purchase of property, plant and equipment | 162 | 205 |
| Free cash flow | 1,388 | n/a |
| Cash from investing | -2,440 | -340 |
| Cash from financing | 1,625 | n/a |
| Buybacks | 0.0 | 159 |
| Filing | 20-F | 20-F |
CNY million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet
| Year to | Dec 2010 | Dec 2011 |
|---|---|---|
| Funded by | ||
| Equity attributable to shareholders | 6,104 | 7,042 |
| Non-controlling interests | 86.2 | 103 |
| Other liabilities | 1,926 | 2,616 |
| Total equity and liabilities | 8,116 | 9,761 |
| Owned | ||
| Property, plant and equipment | 654 | 684 |
| Goodwill | 758 | 799 |
| Other intangible assets | 297 | 306 |
| Cash and cash equivalents | 2,154 | 3,503 |
| Trade and other receivables | 622 | 789 |
| Other assets | 3,632 | 3,680 |
| Total assets | 8,116 | 9,761 |
| Filing | 20-F | 20-F |
CNY million, at each fiscal year end.
Ratios on the filed lines
| Year to | Dec 2010 | Dec 2011 |
|---|---|---|
| Gross margin | 73.6% | 72.3% |
| Operating margin | 34.4% | 28.6% |
| Net margin | 34.2% | 28.9% |
| Free cash flow margin | 45.3% | n/a |
| Return on year-end equity | 17.2% | 15.3% |
| Effective tax rate | 17.2% | 20.3% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
The exchange rates used
| Year to | Average over the year CNY per US dollar | At the year end CNY per US dollar |
|---|---|---|
| Dec 2008 | 6.95 | 6.82 |
| Dec 2009 | 6.83 | 6.83 |
| Dec 2010 | 6.77 | 6.60 |
| Dec 2011 | 6.46 | 6.29 |
| Dec 2012 | 6.31 | 6.23 |
| Dec 2013 | 6.15 | 6.05 |
| Dec 2014 | 6.16 | 6.20 |
| Dec 2015 | 6.28 | 6.48 |
| Dec 2016 | 6.64 | 6.94 |
| Dec 2017 | 6.75 | 6.51 |
| Dec 2018 | 6.60 | 6.88 |
| Dec 2019 | 6.90 | 6.96 |
| Dec 2020 | 6.90 | 6.53 |
| Dec 2021 | 6.45 | 6.37 |
| Dec 2022 | 6.72 | 6.90 |
| Dec 2023 | 7.08 | 7.10 |
| Dec 2024 | 7.20 | 7.30 |
| Dec 2025 | 7.19 | 6.99 |
Converted by us, not by the company: the Federal Reserve's daily noon buying rates in New York (H.10), FRED series DEXCHUS.
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Profit and loss, cash flow and EPS use the average of the daily rates over each fiscal year; the balance sheet uses the rate on the year end, or the last one before it. Ratios are the same in either currency. The filed figures are the ones in renminbi.20-F for the year to 31 December 2011, filed 28 March 2014: the filing. The figures are in renminbi as filed.