Hap Seng Plantations Holdings Berhad Full Year 2024 Earnings: Beats Expectations

Hap Seng Plantations Holdings Berhad (KLSE:HSPLANT) Full Year 2024 Results

Key Financial Results

• Revenue: RM752.4m (up 13% from FY 2023).
• Net income: RM204.6m (up 124% from FY 2023).
• Profit margin: 27% (up from 14% in FY 2023). The increase in margin was primarily driven by higher revenue.
• EPS: RM0.26 (up from RM0.11 in FY 2023).

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

Hap Seng Plantations Holdings Berhad Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 47%.

In the last 12 months, the only revenue segment was Agriculture contributing RM752.4m. Notably, cost of sales worth RM540.9m amounted to 72% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling RM66.3m 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 HSPLANT's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 3.2% growth forecast for the Food industry in Malaysia.

Performance of the Malaysian Food industry.

The company's shares are up 2.6% from a week ago.

Valuation

Following the latest earnings results, Hap Seng Plantations Holdings Berhad may be undervalued based on 6 different valuation benchmarks we assess. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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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.