Shenzhen International Holdings Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Shenzhen International Holdings (HKG:152) Full Year 2024 Results

Key Financial Results

• Revenue: HK$15.6b (down 24% from FY 2023).
• Net income: HK$2.87b (up 51% from FY 2023).
• Profit margin: 18% (up from 9.3% in FY 2023). The increase in margin was driven by lower expenses.
• EPS: HK$1.20 (up from HK$0.80 in FY 2023).

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

Shenzhen International Holdings Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 2.3%.

The primary driver behind last 12 months revenue was the Toll Roads and General-Environmental Protection Business segment contributing a total revenue of HK$10.0b (64% of total revenue). Notably, cost of sales worth HK$12.0b amounted to 77% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling HK$2.31b 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 152's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Infrastructure industry in Hong Kong.

Performance of the Hong Kong Infrastructure industry.

The company's shares are up 4.4% from a week ago.

Risk Analysis

Be aware that Shenzhen International Holdings is showing 2 warning signs in our investment analysis and 1 of those is a bit unpleasant...

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