HBIS Company (000709) Q4 2024 earnings summary

Executive summary

• 2024 revenue reached ¥121.62 billion, down 0.92% year-over-year; net profit attributable to shareholders was ¥707 million, a 34.72% decrease year-over-year.

• Steel output was 27.93 million tons, with steel product sales of 26.42 million tons, and vanadium slag output of 220,000 tons.

• The company maintained stable operations amid a challenging steel market, focusing on cost control, product upgrades, and innovation.

• Cash dividend of ¥0.30 per 10 shares (pre-tax) was proposed, totaling ¥310 million.

Financial highlights

• Operating income: ¥121.62 billion, down 0.92% year-over-year.

• Net profit attributable to shareholders: ¥707 million, down 34.72% year-over-year.

• Net profit after non-recurring items: ¥258 million, down 63.67% year-over-year.

• Operating cash flow: ¥9.68 billion, down 13.69% year-over-year.

• Basic and diluted EPS: ¥0.0462, down 48.67% year-over-year.

• Gross margin for steel: 9.84%, down 0.53 percentage points year-over-year.

Outlook and guidance

• 2025 production targets: pig iron 33.39 million tons, crude steel 31.89 million tons, steel products 28.96 million tons, vanadium slag 260,000 tons.

• Focus on improving steel business profitability, expanding high-end and overseas markets, and accelerating digital and green transformation.

• Continued cost reduction, efficiency improvement, and innovation-driven growth.