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中石化(00386.HK)稱內地疫情對近期需求造成影響 採措施改善現金流
中石化(00386.HK)副總裁黃文生在首季業績電話會議上表示,近日內地疫情對需求造成影響,但產品需求仍有緩慢增長。由於首兩個月及3月上旬的需求強勁,公司煉油業務的產能利用率達92%,因應疫情影響,近期公司將利用率稍降至約85%,但相信疫情緩和後成品油等需求可有較好反彈,公司亦有較高的庫存應對屆時的需求恢復。 他指,由於油價大幅上升,首季煉油業務錄得較大庫存收益,業務毛利表現良好,因庫存收益料較首季減少,估計第二季煉油業務毛利按季或會有所下降。至於化工業務由於成本變動較少,及政府推出不同措施刺激經濟推動需求,預期次季業務毛利與首季相若。 對於首季現金流按年大減,財務部負責人宋正國稱公司現金流是面對挑戰,第一季現金流按年下跌316億元人民幣,主因油價急升令庫存及資金佔用增大,且內地近期多地採取疫情管控措施,令物流受阻,導致庫存量上升。他表示公司對全年現金流有規劃,會透過優化庫存及債權管理等方法,提高資金使用率及減低資金佔用,以改善現金流,並會獲取低成本貸款,認為公司會在派息、投資及債務上作平衡,不需過於擔心。 另外,公司首季進口天然氣480萬噸,三分二為長約,業務季度虧損16億元人民幣(下同),按年增虧12億元,主要由於液化天然氣(LNG)現貨採購價格較高,公司指會藉調整採購節奏及減少現貨採購控制業務表現。管理層又承認有將LNG轉售至歐洲市場,強調完全是市場行為。
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