《公司專訪》中國奧園(03883.HK)料今年毛利率可回升到27%至28%
中國奧園(03883.HK)去年度毛利率按年下跌4.6個百分點至25.1個百分點,高級副總裁陳嘉揚解釋,是由於年內部分項目有規劃地去庫存,導致較大幅度讓利。他透露,大規模庫存去化已大致完成,預期今年毛利率可回升到27%至28%水平。
去年奧園銷售額按年增長13%至1,330億元人民幣(下同),今年銷售目標為1,500億元,增幅與去年持平。他認為,行業已由規模紅利時代轉變為平穩發展階段,未來制訂目標時亦會參考同行步伐。
當局去年提出「三條紅線」措施,要求房企2023年6月底前現金短債比例、撇除預收款資產負債率及淨負債率達標,奧園計劃未來三年有息負債每年下降5%以上。他強調,未來將提升去化速度及回款效率,預期回款率可維持於去年約85%甚至更高水平。
舊改項目成行業發展一大趨勢,奧園去年共轉化10個項目,他指出發展週期平均縮減到2至3年,轉化速度加快,今年預期轉化貨值約400億元,2022及2023年將分別轉化520億及680億元。預計平均毛利率35%至40%,帶動集團整體毛利率可進一步提升。
談及分拆計劃,陳嘉揚表示,計及去年收購的奧園美谷(000615.SZ),集團體系已有3家上市公司,目前將專注發展現有業務。
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