S P Setia Berhad Full Year 2024 Earnings: EPS Misses Expectations

S P Setia Berhad (KLSE:SPSETIA) Full Year 2024 Results

Key Financial Results

• Revenue: RM5.29b (up 21% from FY 2023).
• Net income: RM479.2m (up 143% from FY 2023).
• Profit margin: 9.1% (up from 4.5% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: RM0.10 (up from RM0.048 in FY 2023).

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

S P Setia Berhad EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%.

The primary driver behind last 12 months revenue was the Property Development segment contributing a total revenue of RM5.23b (99% of total revenue). Notably, cost of sales worth RM3.49b amounted to 66% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling RM775.0m 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 SPSETIA's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Malaysia are expected to grow by 6.8%.

Performance of the Malaysian Real Estate industry.

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

Risk Analysis

We should say that we've discovered 2 warning signs for S P Setia Berhad (1 shouldn't be ignored!) that you should be aware of before investing here.

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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.