Chow Tai Fook Jewellery Group Ltd

SEHK:1929

Hong Kong / Consumer Discretionary / Specialty Retail

Overview

News

5Y Historical Financials

Stock Price

9.17 HKD


Key Metrics	Latest
Total Revenue	98.594 B
Adjusted EBITDA	10.488 B
EBITDA Margin	10.6%
Net Profit Margin	4.7%
Total Assets	86.862 B
Total Debt	29.641 B

5Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24	12 Months	Sep-23	Sep-24

Revenue	56,750.80	70,163.80	98,937.70	94,684.40	108,713.00	98,594.40	49,526.30	39,407.70
% Growth		0.24	0.41	(0.04)	0.15			(0.20)

Adjusted EBITDA	5,519.90	9,260.60	9,490.50	8,722.50	10,328.10	10,488.10	6,861.20	7,021.20
% Margin	0.10	0.13	0.10	0.09	0.10	0.11	0.14	0.18

Adjusted EBIT	4,487.50	8,175.00	8,281.10	7,388.30	8,910.50	9,150.50	6,128.70	6,368.70
% Margin	0.08	0.12	0.08	0.08	0.08	0.09	0.12	0.16

Adjusted Net Income	2,997.23	6,437.39	6,856.44	5,456.57	6,637.02	4,606.52	4,620.18	2,589.68
% Margin	0.05	0.09	0.07	0.06	0.06	0.05	0.09	0.07

Adjusted Basic EPS	0.30	0.64	0.69	0.55	0.66	0.46	0.46	0.26

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
						Original
HKD	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24	Sep-24	Sep-23	Sep-24
	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM	YTD-1	YTD

Revenue	56,751	70,164	98,938	94,684	108,713	98,594	49,526	39,408
% Growth	NA	23.6%	41.0%	-4.3%	14.8%			-20.4%

Cost of Revenue	(40,655)	(50,089)	(76,598)	(73,513)	(86,428)	(76,242)	(37,216)	(27,030)
Gross Profit	16,096	20,075	22,340	21,172	22,285	22,352	12,311	12,378
% Revenue	28.4%	28.6%	22.6%	22.4%	20.5%	22.7%	24.9%	31.4%

Research and Development	0	0	0	0	0	0	0	0
Selling and Marketing	(7,105)	(6,644)	(8,146)	(8,089)	(7,627)	(7,402)	(4,394)	(4,169)
General and Admin	(4,447)	(5,205)	(5,818)	(5,607)	(5,674)	(5,727)	(1,756)	(1,809)
Other Inc / (Exp)	81	403	821	255	192	(2,750)	92	(2,851)
Total Operating Exp	(11,471)	(11,445)	(13,143)	(13,441)	(13,109)	(15,879)	(6,058)	(8,828)

Operating Income	4,625	8,629	9,197	7,731	9,177	6,473	6,253	3,550
% Revenue	8.2%	12.3%	9.3%	8.2%	8.4%	6.6%	12.6%	9.0%

Interest Expense	(421)	(235)	(214)	(284)	(448)	(445)	(179)	(176)
Pre-tax Income	4,205	8,395	8,983	7,447	8,728	6,028	6,074	3,374
Earnings of Discontinued Ops.	0	0	0	0	0	0	0	0
Provision for Taxes	(1,221)	(2,219)	(2,103)	(1,957)	(2,121)	(1,474)	(1,457)	(810)
Net Income to Company	2,983	6,176	6,880	5,490	6,607	4,555	4,617	2,564
% Margin	5.3%	8.8%	7.0%	5.8%	6.1%	4.6%	9.3%	6.5%

Minority Interest in Earnings	(82)	(150)	(168)	(105)	(108)	(76)	(66)	(34)
Net Income to Stockholders	2,901	6,026	6,712	5,384	6,499	4,479	4,551	2,530

Preferred Dividends	0	0	0	0	0	0	0	0
Other Adj.	0	0	0	0	0	0	0	0

Net Income to Common	2,901	6,026	6,712	5,384	6,499	4,479	4,551	2,530
% Margin	5.1%	8.6%	6.8%	5.7%	6.0%	4.5%	9.2%	6.4%

As Reported
Basic EPS (Continuing Ops)	0.29	0.60	0.67	0.54	0.65	0.45	0.46	0.25
Diluted EPS (Continuing Ops)	0.29	0.60	0.67	0.54	0.65	0.45	0.46	0.25

WA Basic Shares Out.	10,000.00	10,000.00	10,000.00	10,000.00	9,996.45	9,984.19	10,000.00	9,987.74
WA Diluted Shares Out.	10,000.00	10,000.00	10,000.00	10,000.00	9,996.45	9,984.19	10,000.00	9,987.74

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	4,205	8,395	8,983	7,447	8,728	6,028	6,074	3,374
Addback: Net Interest Expense	421	235	214	284	448	445	179	176
Addback: Other Non Operating Expenses, Total	(157)	(808)	(884)	(298)	(306)	2,607	(129)	2,784
Addback: Depreciation & Amortization	1,032	1,086	1,209	1,334	1,418	1,338	733	653
Addback: Restructuring Charges	0	0	0	0	0	0	0	0
Addback: Merger / Acquisition Expenses	5	0	0	0	0	0	0	0
Addback: Goodwill Impairment	26	232	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Assets	(41)	31	30	31	40	70	5	35
Addback: Asset Writedown	63	382	0	(15)	0	0	0	0
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	(34)	(290)	(61)	(61)	0	0	0	0
Adjusted EBITDA	5,520	9,261	9,491	8,723	10,328	10,488	6,861	7,021
% Margin	9.7%	13.2%	9.6%	9.2%	9.5%	10.6%	13.9%	17.8%

Adjusted EBIT	4,488	8,175	8,281	7,388	8,911	9,151	6,129	6,369
% Margin	7.9%	11.7%	8.4%	7.8%	8.2%	9.3%	12.4%	16.2%

Adjusted Net Income Reconciliation
Net Income to Company	2,983	6,176	6,880	5,490	6,607	4,555	4,617	2,564
Addback: Unusual Items	19	353	(32)	(45)	40	70	5	35
Less: Tax Benefit of Unusual Items (26%)	(5)	(92)	8	12	(10)	(18)	(1)	(9)
Adjusted Net Income	2,997	6,437	6,856	5,457	6,637	4,607	4,620	2,590
% Margin	5.3%	9.2%	6.9%	5.8%	6.1%	4.7%	9.3%	6.6%

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Chow Tai Fook Jewellery Group Ltd

SEHK:1929

Hong Kong / Consumer Discretionary / Specialty Retail

5Y Historical Financials