Codan Full Year 2023 Earnings: Beats Expectations

Codan (ASX:CDA) Full Year 2023 Results

Key Financial Results

• Revenue: AU$456.5m (down 9.8% from FY 2022).
• Net income: AU$67.8m (down 33% from FY 2022).
• Profit margin: 15% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: AU$0.38 (down from AU$0.56 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Codan Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 6.8%.

Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in Australia.

Performance of the Australian Electronic industry.

The company's shares are down 2.3% 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 Codan's balance sheet and an in-depth analysis of the company's financial position.

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