China State Construction International Holdings (HKG:3311) Full Year 2024 Results

Key Financial Results

• Revenue: HK$115.1b (up 1.2% from FY 2023).
• Net income: HK$9.36b (up 2.1% from FY 2023).
• Profit margin: 8.1% (in line with FY 2023).
• EPS: HK$1.86 (up from HK$1.82 in FY 2023).

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

China State Construction International Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 9.7%.

The primary driver behind last 12 months revenue was the Mainland China segment contributing a total revenue of HK$60.4b (52% of total revenue). Notably, cost of sales worth HK$97.3b amounted to 84% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling HK$5.66b 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 3311's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Construction industry in Hong Kong.

Performance of the Hong Kong Construction industry.

The company's shares are down 6.6% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for China State Construction International Holdings (of which 1 is significant!) you should know about.

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