Dongfeng Motor Group Full Year 2024 Earnings: Misses Expectations

Dongfeng Motor Group (HKG:489) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥106.2b (up 6.9% from FY 2023).
• Net income: CN¥58.0m (up from CN¥3.89b loss in FY 2023).
• Profit margin: 0.1% (up from net loss in FY 2023). The move to profitability was driven by higher revenue.
• EPS: CN¥0.007 (up from CN¥0.46 loss in FY 2023).

We've discovered 1 warning sign about Dongfeng Motor Group. View them for free.

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

Dongfeng Motor Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 78%.

The primary driver behind last 12 months revenue was the Passenger Vehicles segment contributing a total revenue of CN¥52.3b (49% of total revenue). Notably, cost of sales worth CN¥93.4b amounted to 88% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to CN¥9.42b (44% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥8.50b. Explore how 489's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in Hong Kong.

Performance of the Hong Kong Auto industry.

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

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Dongfeng Motor Group that we have uncovered.

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