Kingboard Laminates Holdings Full Year 2023 Earnings: Misses Expectations

Kingboard Laminates Holdings (HKG:1888) Full Year 2023 Results

Key Financial Results

• Revenue: HK$16.8b (down 25% from FY 2022).
• Net income: HK$907.4m (down 53% from FY 2022).
• Profit margin: 5.4% (down from 8.5% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: HK$0.29 (down from HK$0.61 in FY 2022).

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

Kingboard Laminates Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 35%.

The primary driver behind last 12 months revenue was the Laminates segment contributing a total revenue of HK$16.4b (98% of total revenue). Notably, cost of sales worth HK$14.1b amounted to 84% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to HK$792.1m (45% of total expenses). Explore how 1888's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Hong Kong.

Performance of the Hong Kong Electronic industry.

The company's shares are up 9.2% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Kingboard Laminates Holdings that you need to take into consideration.

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