Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Nomura Predicts MEITUAN-W 4Q24 Results In Line; Mkt May Need to Adjust Expectation for 2025
Recommend 19 Positive 31 Negative 15 |
||||
|
||||
|
MEITUAN-W (03690.HK)'s 4Q24 results should be in line or even slightly ahead of the company's guidance and street consensus, as it has been the case in the past few quarters, Nomura wrote in its report. The broker expected Meituan's 4Q24 revenue to grow 20% YoY and its non-IFRS operating profit to soar 1.97x YoY, both in line with the latest consensus. Its food delivery revenue and unit economics were predicted to grow by 15% YoY and 32% YoY to RMB43.7 billion and RMB1.17 per unit. Revenue from the in-store business was also expected to swell 25% YoY, with operating margins improving by 3.6 ppts to 32.3%. Meituan's overseas food delivery brand Keeta has expanded to seven cities in Saudi Arabia since 2024. The outlook for Meituan's food delivery business is likely to remain a focus of attention, and the market may need to adjust its expectations for 2025, given that the management of Meituan surprisingly trimmed the outlook for its core businesses of food delivery, citing a weakening macro. The broker maintained a Buy rating on MEITUAN-W with a target price of HKD212. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
