Stock Analysis

COFCO Capital Holdings Full Year 2023 Earnings: Misses Expectations

Simply Wall St

April 28, 2024

COFCO Capital Holdings (SZSE:002423) Full Year 2023 Results

Key Financial Results

Revenue: CN¥23.2b (up 13% from FY 2022).
Net income: CN¥1.02b (up 71% from FY 2022).
Profit margin: 4.4% (up from 2.9% in FY 2022).
EPS: CN¥0.44 (up from CN¥0.26 in FY 2022).

revenue-and-expenses-breakdown — SZSE:002423 Revenue and Expenses Breakdown April 28th 2024

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

COFCO Capital Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 7.8%.

The primary driver behind last 12 months revenue was the Insurance Division segment contributing a total revenue of CN¥17.2b (74% of total revenue). Notably, cost of sales worth CN¥16.9b amounted to 73% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥2.65b (50% of total expenses). Explore how 002423's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Energy Services industry in China.

Performance of the Chinese Energy Services industry.

The company's shares are up 1.7% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for COFCO Capital Holdings you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.