Sinoma International Engineering (600970) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ¥10.84 billion, down 1.13% compared to Q3 2023; YTD revenue reached ¥31.73 billion, up 0.70% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥660.59 million, up 4.24% year-over-year; YTD net profit was ¥2.06 billion, up 2.90%.

• Basic and diluted EPS for Q3 was ¥0.25; YTD EPS was ¥0.79, both up 2.60% year-over-year.

Financial highlights

• Gross margin for the first nine months was 18.9%, slightly up from 18.6% in the prior year.

• Operating profit for the first nine months was ¥2.53 billion, up from ¥2.44 billion year-over-year.

• Net cash flow from operating activities YTD was -¥2.60 billion, a significant decrease due to slower collections in the domestic cement market.

• Total assets at quarter-end were ¥55.77 billion, up 2.49% from year-end 2023.

• Shareholders’ equity attributable to listed company shareholders rose 6.08% to ¥20.26 billion.

Outlook and guidance

• Management notes cash flow pressure from the domestic cement market but maintains a stable outlook for core business operations.