The world's largest battery company, China's Ningde Era (宁德时代·CATL), reported a 15% increase in net profit last year. CATL plans to distribute half of its net profit as dividends.
According to Caixin and others on the 16th (local time), CATL announced during its performance announcement on the 14th that its revenue for 2024 is estimated to decline by 9.7% year-on-year to 362.01 billion yuan (approximately 72.6 trillion won). During the same period, net profit rose by 15% to 50.74 billion yuan (approximately 10.2 trillion won).
CATL stated that it would distribute 25.37 billion yuan (approximately 5.1 trillion won), half of its net profit for 2024, as dividends. CATL had already distributed a special cash dividend of 5.4 billion yuan (approximately 1 trillion won) on January 24 this year.
Approximately 70% of CATL's revenue last year came from China, amounting to 251.68 billion yuan (approximately 50.5 trillion won). The remaining 30% of overseas sales slightly decreased year-on-year to 110.34 billion yuan (approximately 22.1 trillion won).
CATL predicts that with the rising share of new energy vehicles in China, the sales ratio of new energy vehicles will reach 80-90% by 2030. Additionally, they expect battery demand to continue growing at a rate of 25-30% due to the energy storage markets in Europe and the United States and the expansion of data centers driven by the artificial intelligence (AI) boom.