China Resources Gas Group Full Year 2024 Earnings: Misses Expectations

China Resources Gas Group (HKG:1193) Full Year 2024 Results

Key Financial Results

• Revenue: HK$102.7b (up 1.4% from FY 2023).
• Net income: HK$4.09b (down 22% from FY 2023).
• Profit margin: 4.0% (down from 5.2% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: HK$1.80 (down from HK$2.30 in FY 2023).

The end of cancer? These 15 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's.

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

China Resources Gas Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 25%.

The primary driver behind last 12 months revenue was the Sale and Distribution of Gas Fuel and Related Products (Excl. Gas Stations) segment contributing a total revenue of HK$85.6b (83% of total revenue). Notably, cost of sales worth HK$84.4b amounted to 82% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to HK$7.07b (50% of total expenses). Explore how 1193's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Gas Utilities industry in Hong Kong.

Performance of the Hong Kong Gas Utilities industry.

The company's shares are down 1.2% 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 China Resources Gas Group that you need to be mindful of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.