Cathay Pacific Airways (HKG:293) Full Year 2024 Results

Key Financial Results

• Revenue: HK$104.4b (up 11% from FY 2023).
• Net income: HK$9.61b (up 6.0% from FY 2023).
• Profit margin: 9.2% (in line with FY 2023).
• EPS: HK$1.49 (up from HK$1.41 in FY 2023).

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293 Operational Performance

• Available seat kilometres (ASK): 111.79b (up 31% from FY 2023).
• Passenger load factor: 83.2% (down from 85.7% in FY 2023).
• Total aircraft: 236 (up by 11 from FY 2023).

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

Cathay Pacific Airways EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.9%.

The primary driver behind last 12 months revenue was the Cathay Pacific segment contributing a total revenue of HK$94.7b (91% of total revenue). Notably, cost of sales worth HK$71.8b amounted to 69% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to HK$12.5b (54% of total expenses). Explore how 293's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Airlines industry in Asia.

Performance of the market in Hong Kong.

The company's shares are down 11% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Cathay Pacific Airways that you should be aware of.

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