Metallurgical Corporation of China Full Year 2023 Earnings: EPS: CN¥0.33 (vs CN¥0.45 in FY 2022)

Metallurgical Corporation of China (HKG:1618) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥633.9b (up 7.0% from FY 2022).
• Net income: CN¥6.89b (down 25% from FY 2022).
• Profit margin: 1.1% (down from 1.6% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: CN¥0.33 (down from CN¥0.45 in FY 2022).

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

Metallurgical Corporation of China Earnings Insights

The primary driver behind last 12 months revenue was the Engineering Contracting segment contributing a total revenue of CN¥585.5b (92% of total revenue). Notably, cost of sales worth CN¥573.8b amounted to 91% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to CN¥19.7b (37% of total expenses). Explore how 1618's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Construction industry in Hong Kong.

Performance of the Hong Kong Construction industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Metallurgical Corporation of China that you should be aware of before investing here.

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