China Aviation Oil (Singapore) Corporation Ltd (CAO) has announced an impressive financial performance for the first half of 2025, with net profit rising by 18.4% year-on-year to $50.04 million. This growth was driven by a significant increase in business volume, leading to a 13.6% rise in revenue to $8.56 billion and a 25.7% jump in gross profit to $30.38 million.
The company, a major player in the Asia Pacific jet fuel market, attributed its success to a 35.4% increase in total supply and trading volume, reaching 13.77 million metric tonnes. This was largely due to higher trading volumes in crude and fuel oil, as well as increased jet fuel supply.
CAO’s associates also contributed to this growth, with a notable 18.6% increase in share of results, amounting to $27.44 million. This was primarily due to higher refuelling volumes at Shanghai Pudong International Airport and increased contributions from Oilhub Korea Yeosu Co. Ltd.
Despite global economic uncertainties, CAO remains optimistic about the aviation industry’s recovery. CEO Lin Yi stated, “Supported by healthy recovery in the global aviation industry, rising demand across our key markets and new opportunities posed by the low-carbon business, CAO is well positioned to benefit from these opportunities.”
The company maintains a robust financial position with no net interest-bearing debt and an increase in cash and cash equivalents to $515.33 million as of 30 June 2025. Looking ahead, CAO aims to expand its trading network and focus on sustainable aviation fuel as a key growth area.
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