Genting Malaysia Berhad Full Year 2024 Earnings: EPS Misses Expectations

Genting Malaysia Berhad (KLSE:GENM) Full Year 2024 Results

Key Financial Results

• Revenue: RM10.9b (up 7.1% from FY 2023).
• Net income: RM251.3m (down 43% from FY 2023).
• Profit margin: 2.3% (down from 4.3% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: RM0.044 (down from RM0.077 in FY 2023).

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

Genting Malaysia Berhad EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 66%.

The primary driver behind last 12 months revenue was the Leisure & Hospitality - Malaysia segment contributing a total revenue of RM6.83b (63% of total revenue). Notably, cost of sales worth RM8.36b amounted to 77% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling RM1.19b 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 GENM's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Hospitality industry in Malaysia.

Performance of the Malaysian Hospitality industry.

The company's shares are down 22% from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with Genting Malaysia Berhad (including 1 which is potentially serious).

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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.