- Hong Leong Asia delivered a 4.1% y-o-y increase in revenue to S$4.2bn, with strong performance across its powertrain solutions (+4.2% y-o-y to S$3.5bn) and building materials (+4.9% y-o-y to S$682.3mil) segments.
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Earnings per share increased 35.3% y-o-y.
- Adjusted EPS rose 35.3% y-o-y to 11.74 cents, exceeding market expectations.
- Gross margins improved across both segments, with powertrain solutions benefiting from cost savings, while building materials saw higher demand for ready-mix concrete in Singapore and Malaysia.
Cash flow performance saw mixed trends.
- Operating cash flow before working capital surged 28.8% y-o-y to S$489.6mil, but free cash flow fell 34.6% y-o-y to S$170.9mil, impacted by higher working capital needs and capex (S$118.7mil, +18.2% y-o-y).
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- Hong Leong Asia's dividends per share doubled to 4.0 cents, reflecting confidence in future earnings growth.
Sales volume of powertrain solutions grew 13.7% y-o-y.
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