IOI Corporation Berhad Full Year 2024 Earnings: Misses Expectations

editorial-team@simplywallst.com (Simply Wall St)
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IOI Corporation Berhad (KLSE:IOICORP) Full Year 2024 Results

Key Financial Results

  • Revenue: RM9.60b (down 17% from FY 2023).

  • Net income: RM1.11b (flat on FY 2023).

  • Profit margin: 12% (up from 9.6% in FY 2023). The increase in margin was driven by lower expenses.

  • EPS: RM0.18 (in line with FY 2023).

revenue-and-expenses-breakdown
revenue-and-expenses-breakdown

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

IOI Corporation Berhad Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 7.2%.

The primary driver behind last 12 months revenue was the Resource-Based Manufacturing segment contributing a total revenue of RM9.17b (96% of total revenue). Notably, cost of sales worth RM7.62b amounted to 79% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to RM376.4m (43% of total expenses). Explore how IOICORP's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Food industry in Malaysia.

Performance of the Malaysian Food industry.

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

Risk Analysis

You should learn about the 1 warning sign we've spotted with IOI Corporation Berhad.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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