Henderson Land Development (HKG:12) Full Year 2024 Results
Key Financial Results
- Revenue: HK$25.3b (down 8.4% from FY 2023).
- Net income: HK$6.30b (down 32% from FY 2023).
- Profit margin: 25% (down from 34% in FY 2023). The decrease in margin was primarily driven by lower revenue.
- EPS: HK$1.30 (down from HK$1.91 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Henderson Land Development Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 4.3%.
The primary driver behind last 12 months revenue was the Property Development - Hong Kong segment contributing a total revenue of HK$11.7b (46% of total revenue). Notably, cost of sales worth HK$16.4b amounted to 65% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to HK$2.35b (90% of total expenses). Explore how 12's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Real Estate industry in Hong Kong.
Performance of the Hong Kong Real Estate industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 1 warning sign for Henderson Land Development that you need to be mindful of.
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