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China Huaneng Group's 2011 profit falls to RMB 6.1 bln

Jan. 13, 2012 (China Knowledge) - China Huaneng Group, the country's top power producer and the parent company of Huaneng Power International Inc<600011><0902>, saw its profit slide 21.7% year on year to RMB 6.1 billion last year, dragged down by a loss in its thermal power business.

The group's thermal power business suffered a loss of RMB 6.5 billion in 2011, while a profit of RMB 3.22 billion was earned by hydropower business, RMB 1.54 billion by wind power business, RMB 1.33 billion by coal business and RMB 1.54 billion by financial business respectively, said Cao Peixi, General Manager of the group.

China Huaneng realized RMB 270.3 billion of operating revenue in the previous year, up 18.5% from 2010.

Electricity output rose 12.5% year on year to 604.6 terawatt hours (TWhs) last year. At the end of 2011, the group's installed power capacity had increased 10.5% from a year earlier to 125.38 gigawatt, ranking first in Asia and second in the world.

The group saw its coal output surge 38.5% year on year to 64.06 million metric tons last year and its coal production capacity rise 6.3% to 68.17 million metric tons.

For 2012, the group aims to realize RMB 304 billion in operating revenue and RMB 9 billion in profit, and produce 660 TWhs of electricity and 66.7 million metric tons of coal.

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