Huawei Reports FY'16 Revenue of CNY 521.57bn, up 32.0%

Huawei announced financial results for the full year 2016 ended December 31, 2015, as follows:

1. Revenue for 2016 of CNY 521.57 billion (approximately $75.1 billion), up 32.0% compared with CNY 395.01 billion in 2015.

2. Gross profit of CNY 210.13 billion, up 27.6% versus CNY 164.70 billion in 2015.

3. R&D expenditure of CNY 76.39 billion, up 28.1% versus CNY 59.61 billion in 2015.

4. SG&A expenditure of CNY 86.44 billion, up 38.8% versus CNY 62.28 billion in 2015.

5. Total operating expenditure of CNY 162.83 billion, up 33.6% versus CNY 121.89 billion in 2015.

6. Net profit of CNY 37.07 billion ($5.34 billion), compared with CNY 36.91 billion in 2015.

7. Cash and cash equivalents of CNY 123.05 billion ($17.72 billion) as of December 31, 2016, compared with CNY 110.56 billion at the end of 2015.

Additional results and notes

Reporting by business group for 2016, Huawei's Carrier unit reported sales of CNY 290.6 billion, up 25.1% year on year, the Consumer unit reported sales of CNY 179.8 billion, up 39.2% year on year, and the Enterprise unit reported sales of CNY40.7 billion, up 47.5% versus 2015.

On a geographic basis, the company reported sales as follows: China - CNY 235.5 billion, up 29.1% year on year; EMEA - CNY 156.5 billion, up 22.5% year on year; Asia Pacific - CNY 67.5 billion, up 36.6% year on year; Americas - CNY 44.1 billion, up 13.4% year on year.

Huawei reported cash flow from operating activities in 2016 of CNY 49.22 billion ($7.09 billion), compared with CNY 52.3 billion in 2015.

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