Alibaba said it passed 1 billion users on its global e-commerce sites in the fiscal year to March 2021. Revenues at the Chinese e-commerce giant jumped 41 percent to CNY 717.3 billion (USD 109.5 billion), beating its target for the year, and the company expects to grow to over CNY 930 billion in revenue this year.
Revenue growth was helped by its takeover of retailer Sun Art in October. This helped propel fourth-quarter sales 64 percent higher year-on-year to CNY 187.4 billion. Excluding the acquisition, revenues were up 40 percent to CNY 160 billion.
Alibaba recorded an operating loss of CNY 7.7 billion for Q4 due to the CNY 18.2 billion competition fine levied in China. Excluding the fine, operating profit was up 48 percent to CNY 10.6 billion, and adjusted EBITDA rose 18 percent to CNY 29.9 billion.
Over the full year, net profit increased 2 percent to CNY 143.3 billion, with growth held back by the regulatory fine and a sharp rise in costs for stock options. Adjusted EPS rose 23 percent to CNY 8.14, and free cash flow was up 32 percent to CNY 172.7 billion. Annual capital expenditure reached CNY 41.5 billion, leaving the company with CNY 473.6 billion in cash at the end the fiscal year.
