惠譽:聯想集團(00992.HK)上季業績強勁 強化其正面展望
評級機構惠譽發表報告指聯想集團(00992.HK)截至9月底止次財季業績強勁,強化其正面信貸展望,予「BBB-」評級,反映該行預期聯想集團在2023財年經營現金流毛槓桿將降至2倍,經營EBIT利潤率料達4%。而支持上財季業績的因素料持續改善聯想集團信貸狀況。
報告稱,聯想集團收入按年升7%,利潤率持續復甦。在疫情及主要元件供應受限下,其經營EBIT仍按年升15%。儘管疫情推高運輸成本影響毛利率,其次財季經營EBIT利潤率升至3.9%,按季改善1.1個百分點,亦高於去年同期0.2個百分點。
惠譽料聯想集團盈利能力穩定改善,現金生成及進一步去槓桿,將推動未來數年財務表現。公司將專注快速增長及高端個人電腦(PC)板塊,出售更多軟體及服務,減少非PC業務虧損,及動用剩餘現金減債。
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