Onewo (HKG:2602) Full Year 2024 Results
Key Financial Results
- Revenue: CN¥36.2b (up 9.2% from FY 2023).
- Net income: CN¥1.15b (down 41% from FY 2023).
- Profit margin: 3.2% (down from 5.9% in FY 2023). The decrease in margin was driven by higher expenses.
- EPS: CN¥0.98 (down from CN¥1.66 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Onewo EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 35%.
The primary driver behind last 12 months revenue was the Community Space Living Consumption Services segment contributing a total revenue of CN¥20.9b (58% of total revenue). Notably, cost of sales worth CN¥31.5b amounted to 87% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥2.46b (69% of total expenses). Explore how 2602's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 3.9% 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
Be aware that Onewo is showing 2 warning signs in our investment analysis and 1 of those is potentially serious...
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