Sime Darby Property Berhad Full Year 2023 Earnings: Beats Expectations

Sime Darby Property Berhad (KLSE:SIMEPROP) Full Year 2023 Results

Key Financial Results

• Revenue: RM3.44b (up 25% from FY 2022).
• Net income: RM407.9m (up 29% from FY 2022).
• Profit margin: 12% (in line with FY 2022).
• EPS: RM0.06 (up from RM0.046 in FY 2022).

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

Sime Darby Property Berhad Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 20%.

The primary driver behind last 12 months revenue was the Property Development segment contributing a total revenue of RM3.28b (95% of total revenue). Notably, cost of sales worth RM2.42b amounted to 70% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to RM242.9m (40% of total expenses). Explore how SIMEPROP's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Real Estate industry in Malaysia.

Performance of the Malaysian Real Estate industry.

The company's shares are up 2.8% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Sime Darby Property Berhad that you should be aware of.

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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.