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瑞信银娱(0027.HK)次季EBITDA胜预期核心营运稳健
格隆汇 08-13 15:06

瑞信发表报告表示,银河娱乐(00027.HK)今年第二季EBITDA43.32亿元,按季升9%及按年跌8%,较该行原预期40.4亿元高。该行指,银娱第二季稳固表现主要由於贵宾厅市占率提升所致(受惠於赢率)。若调整赢率因素(3.49亿元),期内EBITDA按季升3%及按年跌11%至40亿元。

该行指,银娱期内EBITDA利润率(对比净收入)按季改善2.4个百分点至32.9%,主要受惠于收入组合转移至高毛利中场业务及建筑物料因素。

瑞信称,看好银娱盈利增长强劲,资产负债表录稳固净现金,管理团队强大而一致,维持银娱“跑赢大市”投资评级,目标价72.8港元。

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