China Resources Gas Group (HKG:1193) Full Year 2024 Results
Key Financial Results
- Revenue: HK$102.7b (up 1.4% from FY 2023).
- Net income: HK$4.09b (down 22% from FY 2023).
- Profit margin: 4.0% (down from 5.2% in FY 2023). The decrease in margin was driven by higher expenses.
- EPS: HK$1.80 (down from HK$2.30 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
China Resources Gas Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 25%.
The primary driver behind last 12 months revenue was the Sale and Distribution of Gas Fuel and Related Products (Excl. Gas Stations) segment contributing a total revenue of HK$85.6b (83% of total revenue). Notably, cost of sales worth HK$84.4b amounted to 82% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to HK$7.07b (50% of total expenses). Explore how 1193's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Gas Utilities industry in Hong Kong.
Performance of the Hong Kong Gas Utilities industry.
The company's shares are down 1.2% 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 China Resources Gas Group that you need to be mindful of.
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