Pharmaron Beijing Full Year 2024 Earnings: In Line With Expectations

Pharmaron Beijing (SZSE:300759) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥12.3b (up 6.4% from FY 2023).
• Net income: CN¥1.79b (up 12% from FY 2023).
• Profit margin: 15% (in line with FY 2023).
• EPS: CN¥1.01 (up from CN¥0.90 in FY 2023).

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

Pharmaron Beijing Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

The primary driver behind last 12 months revenue was the Laboratory Services segment contributing a total revenue of CN¥7.05b (57% of total revenue). Notably, cost of sales worth CN¥8.09b amounted to 66% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥1.63b (66% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥74.1m. Explore how 300759's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Life Sciences industry in China.

Performance of the Chinese Life Sciences industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Pharmaron Beijing's balance sheet.

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