Rerating Due For YTL Leading To HSR Decision
Rerating Due For YTL Leading To HSR Decision
YTL Corporation Berhad (YTL) has reported a solid performance for FY24, aligning closely with both internal and consensus expectations. The company posted a net profit of RM534.5 million for 4QFY24, elevating its full-year net profit to RM2.14 billion, nearly double the figure from FY23. This performance exceeded projections by approximately 2%, with the group declaring an interim dividend per share (DPS) of 4.5 sen.
YTL公司(YTL)报告了2024财年的稳健表现,与内部和共识预期密切契合。该公司在第4季度财年2024年实现了53450万令吉的净利润,将全年净利润提升至21.4亿令吉,几乎是去年的两倍。该表现超出预期约2%,集团宣布每股4.5仙的中期股息。
YTL maintains a BUY rating with an unchanged target price (TP) of RM4.19, reflecting confidence in its infrastructure-focused strategy and new ventures into data centres and renewable energy. Another analyst has upgraded the construction company from Hold to Add with a revised TP of RM3.55. This adjustment comes amid a 20% decline in YTL's share price over the past three months, making the stock appear undervalued compared to its historical performance and the sector average.
YTL保持买入评级,目标价保持不变为4.19令吉,反映了对其基础设施重点策略以及新的数据中心和可再生能源领域的信心。另一位分析师已将这家建筑公司的评级从持有调升至增持,并将目标价上调至3.55令吉。此调整发生在YTL股价过去三个月下跌20%的背景下,使得该股看起来被低估,相较于其历史表现和行业平均水平。
Analysts remain optimistic about YTL's future despite a slight sequential decline in performance from its utilities and cement divisions. The company's key investment highlights include a robust +23.6% quarter-on-quarter increase in profit before tax (PBT), driven predominantly by management services and other segments. Notably, the company is actively tendering for external construction projects, including the Penang International Airport expansion and various infrastructure projects in Sarawak. Additionally, the group is in the midst of acquiring an 81.24% stake in NSL Ltd for SGD227.6 million (RM792.3 million), which is expected to enhance its industrialised building system (IBS) capabilities.
尽管来自公用事业和水泥部门表现略有序贯下降,分析师们仍然对YTL未来持乐观态度。公司主要投资亮点包括税前利润(PBT)环比大幅增长23.6%,主要受管理服务和其他部门推动。值得注意的是,该公司正在积极投标外部施工项目,包括槟城国际机场扩建和砂拉越各种基建项目。此外,集团正在收购NSL有限公司81.24%的股权,价格为2.276亿新元(7.923亿令吉),预计将增强其工业化建筑系统(IBS)能力。
The upcoming auction of a new 10-year Malaysian Government Securities (MGS) is anticipated to replace the existing benchmark bond. The new issuance, expected to be MYR4.5 billion in size, could further impact YTL's market positioning as it navigates through these dynamic changes.
预计马来西亚政府债券将举行一场新一轮为期10年的拍卖活动,以取代现有的基准债券。新发行规模预计为45亿令吉,可能进一步影响YTL的市场定位,因为它在应对这些动态变化中前行。