《大行報告》野村:中電(00002.HK)派第二期中期息0.63元符預期 評級「中性」
野村發表評級報告指,由於澳洲遠期能源合約導致錄得79.57億元未實現公允價值虧損,中電(00002.HK)上半年經營虧損38.46億元,撇除該項會計損失,集團營運利潤按年仍跌25%至41.11億元,主要因澳洲發電組合盈利減少和煤價持續高企,即使如此,香港作為集團主要市場仍表現穩健,營業利潤按年增5%。
該行表示,除了上述挑戰,即使集團自由現金流較低,但在強勁的資產負債表下,集團宣派每股中期息0.63元,按年持平,符合該行及市場預測。
該行表示,鑑於在今年餘下時間,股息上漲空間不大,以及澳洲持續的營運挑戰,維持其目標價為80.5元及其評級為「中性」;該行指在其覆蓋的香港公用事業領域,會優先選擇長江基建(01038.HK)。
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