Xiaomi (HKG:1810) Full Year 2024 Results
Key Financial Results
- Revenue: CN¥365.9b (up 35% from FY 2023).
- Net income: CN¥23.7b (up 35% from FY 2023).
- Profit margin: 6.5% (up from 6.4% in FY 2023). The increase in margin was driven by higher revenue.
- EPS: CN¥0.95 (up from CN¥0.70 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Xiaomi Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 17%.
The primary driver behind last 12 months revenue was the Smartphones segment contributing a total revenue of CN¥191.8b (52% of total revenue). Notably, cost of sales worth CN¥289.3b amounted to 79% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to CN¥25.1b (47% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥935.8m. Explore how 1810's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Tech industry in Asia.
Performance of the market in Hong Kong.
The company's shares are up 14% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Xiaomi's balance sheet and an in-depth analysis of the company's financial position.
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