兖煤澳大利亚(3668.HK):产量快速恢复 价格及成本表现超过预期

国泰君安
23 Feb

本报告导读:2024H2 产量继续恢复,价格及成本表现超过预期;稳健的报表质量,分红率继续抬升至56%。投资要点:维持目标价和 增持评级。公司公告2024 年年报,总营收68.6 亿澳元,同比减少10%;股东应占利润12.16 亿澳元,同比减少33.15%,业绩超预期,公司年报计划分红率提高至56%,对应当前股息率8.96%。考虑到2025 年煤价中枢下调,我们下调2025-2026 年净利润预测...

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