AAC Technologies Holdings Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

AAC Technologies Holdings (HKG:2018) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥27.3b (up 34% from FY 2023).
• Net income: CN¥1.80b (up 143% from FY 2023).
• Profit margin: 6.6% (up from 3.6% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥1.53 (up from CN¥0.63 in FY 2023).

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

AAC Technologies Holdings Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 1.8%.

The primary driver behind last 12 months revenue was the Electromagnetic Drives and Precision Mechanics segment contributing a total revenue of CN¥9.71b (36% of total revenue). Notably, cost of sales worth CN¥21.3b amounted to 78% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to CN¥2.02b (48% of total expenses). Explore how 2018's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong.

Performance of the Hong Kong Electronic industry.

The company's shares are up 2.1% 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 AAC Technologies Holdings' balance sheet.

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