Seazen Group Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Seazen Group (HKG:1030) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥89.2b (down 25% from FY 2023).
• Net income: CN¥491.3m (up from CN¥372.3m loss in FY 2023).
• Profit margin: 0.6% (up from net loss in FY 2023). The move to profitability was driven by lower expenses.
• EPS: CN¥0.07 (up from CN¥0.053 loss in FY 2023).

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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 9.0%. Earnings per share (EPS) missed analyst estimates by 6.1%.

The primary driver behind last 12 months revenue was the A Share Company segment contributing a total revenue of CN¥89.0b (100% of total revenue). Notably, cost of sales worth CN¥74.2b amounted to 83% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling CN¥6.31b 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 2 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 4.6%.

Performance of the Hong Kong Real Estate industry.

The company's shares are up 2.9% from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for Seazen Group that you should be aware of before investing here.

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