Hong Leong Financial Group Berhad Full Year 2024 Earnings: Beats Expectations

Simply Wall St

October 04, 2024

Hong Leong Financial Group Berhad (KLSE:HLFG) Full Year 2024 Results

Key Financial Results

Revenue: RM6.76b (up 6.3% from FY 2023).
Net income: RM3.20b (up 11% from FY 2023).
Profit margin: 47% (up from 45% in FY 2023). The increase in margin was driven by higher revenue.
EPS: RM2.82 (up from RM2.54 in FY 2023).

HLFG Banking Performance Indicators

Cost-to-income ratio: 39.2% (up from 38.3% in FY 2023).
Non-performing loans: 0.53% (down from 0.57% in FY 2023).

revenue-and-expenses-breakdown — KLSE:HLFG Revenue and Expenses Breakdown October 4th 2024

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

Hong Leong Financial Group Berhad Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%.

The primary driver behind last 12 months revenue was the Commercial Banking segment contributing a total revenue of RM5.88b (87% of total revenue). The largest operating expense was General & Administrative costs, amounting to RM2.22b (62% of total expenses). Explore how HLFG's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Banks industry in Malaysia.

Performance of the Malaysian Banks industry.

The company's shares are down 4.4% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Hong Leong Financial Group Berhad's balance sheet.

Valuation is complex, but we're here to simplify it.

Discover if Hong Leong Financial Group Berhad might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.

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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.