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《大行报告》大和料百威亚太(01876.HK)首季EBITDA按年升225% 重申「跑赢大市」评级
阿思达克 04-29 14:30
大和发表研究报告指,百威亚太(01876.HK)即将公布首季度业绩,预期今年首季收入及EBITDA增长强劲,考虑到去年首季收入按年下跌40%,估计在低基数及销量提升50%的情况下,今年首季收入将可按年增长约76%。

该行预期,中国当局鼓励就地过年,在华南及华东地区带动下,内地市场销售增加将较整体更强,预测EBITDA按年升幅达225%,与2019年同期水平相若,EBITDA利润率料达到32%,按年提升14个百分点。

大和又指出,百威亚太管理层透露在疫情下即弃包装使用量增加,消费者转变为在家饮用啤酒,长远有计划转用可回收物料,以符合环境、社会及企业管治(ESG)要求。

该行对百威亚太定价能力有信心,预期可保持市场地位,重申「跑赢大市」评级,目标价维持29.2元。

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