Originally Posted by
deadinabsentia
Can you read their profit loss statement? They make a massive operation profit.
read that again. MASSIVE operating profit.
.
I don't see where you read that.
Operational loss before non-recurring items stands at -2,534. If you add the normal financing charges of 814, you get a total loss of 3,348. Hedging losses including in this loss amount to 3,230. So CX would have shown a loss anyway.
Of course, they used various non-recurring tricks like divesting of shares that had been purchased lower a long time ago. They could have shown that extraordinary capital gain at any time, but it helps embellish the awful results. But this is a one time accounting gain.
As an ongoing concern CX is losing money beyond its fuel hedges.