VSTECS (856) H2 2024 earnings summary

Executive summary

• Revenue for the year ended 31 December 2024 rose 20.6% year-over-year to HK$89.1 billion, with net profit attributable to equity shareholders up 14.1% to HK$1.05 billion.

• Gross profit increased to HK$3.93 billion, and operating profit reached HK$1.70 billion, both showing solid year-over-year growth.

• Basic and diluted EPS were HK75.67 cents, up from HK65.62 cents in 2023.

• Final dividend of HK25.7 cents per share proposed, unchanged from the prior year.

Financial highlights

• Revenue: HK$89,085.6 million (2023: HK$73,891.3 million), up 20.6% year-over-year.

• Net profit attributable to equity shareholders: HK$1,051.98 million (2023: HK$922.03 million), up 14.1%.

• Gross profit: HK$3,929.1 million (2023: HK$3,496.5 million).

• Operating profit: HK$1,699.2 million (2023: HK$1,435.1 million).

• Total comprehensive income: HK$856.1 million (2023: HK$875.9 million), impacted by exchange differences.

Outlook and guidance

• Focus remains on expanding product range, market share, and business segments, especially in China and Southeast Asia.

• Continued efforts to improve operational and financial efficiencies to enhance margins.

• Confident in ongoing business growth, supported by experienced management.