Glenveagh Properties Full Year 2023 Earnings: Beats Expectations

Glenveagh Properties (ISE:GVR) Full Year 2023 Results

Key Financial Results

• Revenue: €607.9m (down 5.7% from FY 2022).
• Net income: €47.1m (down 10% from FY 2022).
• Profit margin: 7.7% (down from 8.2% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: €0.08.

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

Glenveagh Properties Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 3.9%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Europe.

Performance of the market in Ireland.

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

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Glenveagh Properties' balance sheet health.

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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.