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Canvest Environmental Protection Group Company (1381) investor relations material
Canvest Environmental Protection Group Company has been delisted
Canvest Environmental Protection Group Company H2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2024 earnings summary8 Apr, 2025
Executive summary
Revenue from continuing operations fell 15.4% year-over-year to HK$4,198.3 million, mainly due to a sharp drop in construction revenue as most WTE projects are now operational.
Net profit attributable to equity holders decreased 13.5% to HK$866.1 million, with discontinued operations (smart car parking) contributing a loss.
Gross profit margin improved to 48.3% (from 41.9%) and EBITDA margin rose to 62.8% (from 53.9%), reflecting a higher share of operational revenue.
The Group operated 35 WTE projects with a daily MSW processing capacity of 52,540 tonnes, and expanded its environmental sanitation business, securing new contracts worth ~RMB2 billion.
No final dividend was proposed for 2024.
Financial highlights
Revenue from power sales and waste treatment increased 4.3% year-over-year to HK$3,575.6 million.
Gross profit from continuing operations was HK$2,025.8 million, down 2.5% year-over-year.
EBITDA from continuing operations was HK$2,635.3 million, down 1.3% year-over-year.
Basic EPS from continuing operations was HK38.0 cents, down 9.7% year-over-year.
Net cash generated from operating activities was HK$1,156.2 million, up from HK$1,078.5 million in 2023.
Outlook and guidance
The Group will focus on optimizing operational efficiency, reducing costs, and exploring value-added services such as collaborative heat supply and carbon asset development.
Policy support for green, low-carbon, and circular economy in China is expected to drive further industry transformation and sustainable growth.
The Group aims to expand across the industry chain and enhance its role in smart city management and environmental services.
Gross margin rose to 48.3%; detail drivers
Given HK$4.90 offer, what's the IBC's view?
Effective tax rate rose to 15.5%; explain drivers
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Frequently asked questions
Canvest Environmental Protection Group Company Limited specializes in providing waste-to-energy solutions and other environmental protection services. The company’s primary activities include the construction, operation, and management of waste-to-energy plants that convert municipal solid waste into renewable energy. Through its advanced technologies, Canvest focuses on waste treatment, reducing landfill usage, and generating electricity, thus promoting sustainable waste management and environmental preservation. It operates projects across several provinces in China, addressing waste disposal needs for local governments and contributing to regional environmental goals. The company is headquartered in Dongguan, China, and its shares are listed on the HKEX.
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