China Mengniu Dairy Full Year 2023 Earnings: EPS Misses Expectations

China Mengniu Dairy (HKG:2319) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥98.6b (up 6.5% from FY 2022).
• Net income: CN¥4.81b (down 9.3% from FY 2022).
• Profit margin: 4.9% (down from 5.7% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: CN¥1.22 (down from CN¥1.34 in FY 2022).

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

China Mengniu Dairy EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Food industry in Hong Kong.

Performance of the Hong Kong Food industry.

The company's shares are down 15% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on China Mengniu Dairy's balance sheet health.

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