Hainan Meilan International Airport Full Year 2023 Earnings: Misses Expectations

Hainan Meilan International Airport (HKG:357) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥2.09b (up 83% from FY 2022).
• Net loss: CN¥136.0m (loss narrowed by 12% from FY 2022).
• CN¥0.29 loss per share (improved from CN¥0.33 loss in FY 2022).

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

Hainan Meilan International Airport Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates.

In the last 12 months, the only revenue segment was Operating an Airport and a Hotel and Provision of Related Services contributing CN¥2.09b. Notably, cost of sales worth CN¥2.05b amounted to 98% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling CN¥64.9m 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 357's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Infrastructure industry in Hong Kong.

Performance of the Hong Kong Infrastructure industry.

The company's shares are up 1.6% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Hainan Meilan International Airport you should know about.

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