CITIC (HKG:267) Full Year 2024 Results
Key Financial Results
- Revenue: CN¥949.7b (up 7.6% from FY 2023).
- Net income: CN¥58.2b (up 1.1% from FY 2023).
- Profit margin: 6.1% (down from 6.5% in FY 2023). The decrease in margin was driven by higher expenses.
- EPS: CN¥2.00 (up from CN¥1.98 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
CITIC Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) missed analyst estimates by 4.6%.
The primary driver behind last 12 months revenue was the Advanced Materials segment contributing a total revenue of CN¥325.9b (34% of total revenue). The most substantial expense, totaling CN¥248.5b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how 267's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to decline by 6.3% p.a. on average during the next 3 years, while revenues in the Industrials industry in Hong Kong are expected to remain flat.
Performance of the Hong Kong Industrials industry.
The company's shares are up 3.1% from a week ago.
Valuation
It's possible that CITIC could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. Discover what analysts are forecasting and how the current share price shapes up by clicking here.
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