Sun Hung Kai Properties (HKG:16) Full Year 2024 Results
Key Financial Results
- Revenue: HK$71.5b (flat on FY 2023).
- Net income: HK$19.0b (down 20% from FY 2023).
- Profit margin: 27% (down from 34% in FY 2023).
- EPS: HK$6.57 (down from HK$8.25 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Sun Hung Kai Properties Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 17%.
The primary driver behind last 12 months revenue was the Property Development - Hong Kong segment contributing a total revenue of HK$24.7b (35% of total revenue). Notably, cost of sales worth HK$39.3b amounted to 55% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling HK$7.60b 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 16's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Real Estate industry in Hong Kong.
Performance of the Hong Kong Real Estate industry.
The company's shares are up 1.1% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 1 warning sign for Sun Hung Kai Properties that you need to be mindful of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About SEHK:16
Sun Hung Kai Properties
Develops and invests in properties for sale and rent in Hong Kong, Mainland China, and internationally.
Adequate balance sheet average dividend payer.
