Concord New Energy Group Full Year 2024 Earnings: Misses Expectations

Concord New Energy Group (HKG:182) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥2.75b (up 6.3% from FY 2023).
• Net income: CN¥805.1m (down 7.4% from FY 2023).
• Profit margin: 29% (down from 34% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: CN¥0.10 (down from CN¥0.10 in FY 2023).

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

Concord New Energy Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 23%.

The primary driver behind last 12 months revenue was the Power Generation segment contributing a total revenue of CN¥2.52b (91% of total revenue). The most substantial expense, totaling CN¥352.4m 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 182's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Renewable Energy industry in Hong Kong.

Performance of the Hong Kong Renewable Energy industry.

The company's shares are up 5.3% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Concord New Energy Group (1 doesn't sit too well with us!) that you should be aware of before investing here.

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