Seazen Group Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

Seazen Group (HKG:1030) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥119.5b (up 2.5% from FY 2022).
• Net loss: CN¥372.3m (down by 233% from CN¥280.7m profit in FY 2022).
• CN¥0.053 loss per share (down from CN¥0.043 profit in FY 2022).

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

Seazen Group Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates.

The primary driver behind last 12 months revenue was the A Share Company segment contributing a total revenue of CN¥119.2b (100% of total revenue). Notably, cost of sales worth CN¥102.0b amounted to 85% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling CN¥6.24b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how 1030's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 21% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 5.3%.

Performance of the Hong Kong Real Estate industry.

The company's shares are down 5.0% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Seazen Group you should know about.

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