Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research> CICC: GALAXY ENT (00027.HK) 1Q Results In Line; Reiterates Outperform with TP HKD44.1
Recommend 5 Positive 12 Negative 5 |
||||
|
||||
|
CICC issued a report stating that GALAXY ENT (00027.HK)'s 1Q results were in line with expectations. Revenue reached HKD12.396 billion, up 11% YoY and down 10% QoQ, recovering to 95% of the level in 1Q19. Adjusted EBITDA was HKD3.576 billion (up 8% YoY and down 17% QoQ), recovering to 90% of the level in 1Q19 and broadly in line with market expectations of HKD3.526 billion. CICC noted that Galaxy Entertainment's performance was mainly affected by the normalization of gaming win rate in 1Q. Capital expenditure in 1Q amounted to HKD900 million. Management expects full-year 2026 capital expenditure to range between HKD10 billion and HKD11 billion. Management believes the Middle East conflict has not had a direct impact on the companys business, but expects seasonal disruption during the 2026 World Cup. CICC maintained its EBITDA forecasts for 2026 and 2027. The companys current share price corresponds to 8x 2026 EV/EBITDA (treating financial assets as cash). CICC reiterated its Outperform rating on GALAXY ENT with a TP of HKD44.1, corresponding to a forecast 11x 2026 EV multiple. (da/) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
