- Marco Polo Marine (SGX:5LY) registered FY24 core earnings of S$26m (+4% y-o-y), beating our forecast of S$24m by 9%. This was mainly due to better-than-expected gross profit margin of 39.3% (+3ppt y-o-y), as a result of higher average charter rates in the offshore upcycle.
Earnings beat; dividend maintained.
- - Read this at SGinvestors.io -
- Marco Polo Marine proposed a dividend of 0.1 cents per share, similar to its inaugural dividend last year.
Lower shipyard revenue, but volumes are returning.
- - Read this at SGinvestors.io -
- We expect volume recovery in FY25 as all dry docks were fully available from Sep 24, while the 4th dry dock will enhance capacity by up to 25% to boost revenue.
Ship chartering revenue rises on elevated charter rates.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Singapore Research UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-12-06
Previous report by UOB:
2024-08-29 Marco Polo Marine - 3QFY24 Temporary Setback From CSOV Delay; Await Recovery In FY25.
Price targets by 2 other brokers at Marco Polo Marine Target Prices.
Listing of research reports at Marco Polo Marine Analyst Reports.
Relevant links:
Marco Polo Marine Share Price History,
Marco Polo Marine Announcements,
Marco Polo Marine Dividends & Corporate Actions,
Marco Polo Marine News Articles
