Smoore International Holdings Full Year 2024 Earnings: EPS Misses Expectations

Smoore International Holdings (HKG:6969) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥11.8b (up 5.3% from FY 2023).
• Net income: CN¥1.30b (down 21% from FY 2023).
• Profit margin: 11% (down from 15% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: CN¥0.21 (down from CN¥0.27 in FY 2023).

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

Smoore International Holdings EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%.

The primary driver behind last 12 months revenue was the Hong Kong, China segment contributing a total revenue of CN¥3.88b (33% of total revenue). Notably, cost of sales worth CN¥7.32b amounted to 62% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to CN¥1.57b (45% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥317.5m. Explore how 6969's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Tobacco industry in Asia.

Performance of the market in Hong Kong.

The company's shares are up 24% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Smoore International Holdings' balance sheet.

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