- Genting Singapore’s 2H24 revenue fell 12.2% y-o-y to S$1.2b, driven by lower contributions from both gaming (-17.2% y-o-y) and non-gaming (-1.8% y-o-y) segments.
2H24 results met expectations.
- - Read this at SGinvestors.io -
- Adjusted EBITDA and net profit declined 32.1% and 33.7% y-o-y to S$389.3m and S$222.0m respectively, affected by higher operational costs and inflationary pressures.
S$0.04 dividend for FY24 represent DPR of 83%
- A final dividend of 2 Singapore cents per share was declared (same as last year), bringing full-year dividend to 4 Singapore cents (+14% y-o-y), representing a payout ratio of 83% (vs 69% in 2023). See Genting Singapore's dividend payout date.
- - Read this at SGinvestors.io -
- Genting Singapore spent S$423m on CAPEX in FY24 and they do not expect any major CAPEX ramp-up for RWS 2.0 until FY27.
New attractions will be gradually rolled out from 2H25.
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2025-02-25
Previous report by OCBC:
2024-11-11 Genting Singapore - More Patience Needed.
Price targets by 4 other brokers at Genting Singapore Target Prices.
Listing of research reports at Genting Singapore Analyst Reports.
Relevant links:
Genting Singapore Share Price History,
Genting Singapore Announcements,
Genting Singapore Dividend Payout Dates & Corporate Actions,
Genting Singapore News
