Eastroc Beverage Group (605499) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached RMB 12.56 billion, up 45.34% year-over-year, with Q3 revenue at RMB 4.68 billion, up 47.29% year-over-year.

• Net profit attributable to shareholders for the first nine months was RMB 2.71 billion, up 63.53% year-over-year; Q3 net profit was RMB 976.8 million, up 78.42% year-over-year.

• Gross margin improved to 45.05% from 42.52% in the prior year, driven by lower raw material costs.

Financial highlights

• Operating cash flow for the first nine months was RMB 3.04 billion, up 50.76% year-over-year.

• Basic and diluted EPS for the first nine months were RMB 5.2064, up 63.53% year-over-year.

• Total assets at quarter-end were RMB 19.91 billion, up 35.35% from the previous year-end.

• Shareholders’ equity reached RMB 7.02 billion, up 11.06% from the previous year-end.

Outlook and guidance

• The company plans to continue expanding its national sales network, deepen channel penetration, and increase market share in energy drinks while developing new health-oriented beverages.