SungEel HiTech Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

SungEel HiTech (KOSDAQ:365340) Full Year 2023 Results

Key Financial Results

• Revenue: ₩247.4b (down 8.3% from FY 2022).
• Net income: ₩24.8b (down 37% from FY 2022).
• Profit margin: 10.0% (down from 15% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: ₩2,068 (down from ₩3,856 in FY 2022).

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

SungEel HiTech EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates significantly.

Looking ahead, revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Commercial Services industry in South Korea.

Performance of the South Korean Commercial Services industry.

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

Risk Analysis

What about risks? Every company has them, and we've spotted 3 warning signs for SungEel HiTech (of which 2 are a bit unpleasant!) you should know about.

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