Beijing Enterprises Holdings (HKG:392) Full Year 2024 Results
Key Financial Results
- Revenue: CN¥84.1b (up 2.1% from FY 2023).
- Net income: CN¥5.12b (down 6.8% from FY 2023).
- Profit margin: 6.1% (down from 6.7% in FY 2023). The decrease in margin was driven by higher expenses.
- EPS: CN¥4.07 (down from CN¥4.36 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Beijing Enterprises Holdings EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%.
The primary driver behind last 12 months revenue was the Gas Operation segment contributing a total revenue of CN¥62.0b (74% of total revenue). Notably, cost of sales worth CN¥72.6b amounted to 86% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥6.14b (72% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥2.24b. Explore how 392's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Gas Utilities industry in Hong Kong.
Performance of the Hong Kong Gas Utilities industry.
The company's shares are up 3.6% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Beijing Enterprises Holdings (at least 1 which is potentially serious), and understanding them should be part of your investment process.
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