CLP Holdings Full Year 2024 Earnings: Revenues Beat Expectations, EPS In Line

CLP Holdings (HKG:2) Full Year 2024 Results

Key Financial Results

• Revenue: HK$91.0b (up 4.4% from FY 2023).
• Net income: HK$11.7b (up 76% from FY 2023).
• Profit margin: 13% (up from 7.6% in FY 2023). The increase in margin was primarily driven by higher revenue.
• EPS: HK$4.65 (up from HK$2.63 in FY 2023).

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

CLP Holdings Revenues Beat Expectations

Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) was mostly in line with analyst estimates.

The primary driver behind last 12 months revenue was the Hong Kong segment contributing a total revenue of HK$52.0b (57% of total revenue). Notably, cost of sales worth HK$61.6b amounted to 68% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to HK$9.28b (53% of total expenses). Explore how 2's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Electric Utilities industry in Asia.

Performance of the market in Hong Kong.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with CLP Holdings, and understanding these should be part of your investment process.

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