Dongfang Electric Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Dongfang Electric (HKG:1072) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥68.3b (up 15% from FY 2023).
• Net income: CN¥2.92b (down 18% from FY 2023).
• Profit margin: 4.3% (down from 6.0% in FY 2023).
• EPS: CN¥0.94 (down from CN¥1.14 in FY 2023).

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

Dongfang Electric Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) missed analyst estimates by 18%.

The primary driver behind last 12 months revenue was the Clean and Efficient Energy Equipment segment contributing a total revenue of CN¥2.84b (4.1% of total revenue). Notably, cost of sales worth CN¥58.9b amounted to 86% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥3.67b (54% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥315.7m. Explore how 1072's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Electrical industry in Hong Kong.

Performance of the Hong Kong Electrical industry.

The company's shares are down 2.4% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Dongfang Electric that you should be aware of.

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