《大行報告》瑞信:銀娛(00027.HK)上季業績優於市場預期 受惠成本控制
瑞信發表報告表示,銀河娛樂(00027.HK)公布今年第三季經調整EBITDA轉蝕5.81億元,優於市場原預期經調整EBITDA轉蝕6.99億元,相信是集團具紀律及有效的成本控制,而公司截至9月底現金及流動投資達225億元(對比2022年第二季290億元),而淨現金為193億元(對比2022年第二季203億元),核心債務維持約3億元水平。
該行表示,重申對銀河娛樂「跑贏大市」投資評級及目標價49.5元,該行雖然認為行業挑戰依然存在,但未來行業將可迎來潛在的積極消息面(內地重新開放電子簽註和訪澳旅行團、11月中下旬潛在批出賭牌許可),將可能會提供支持。
瑞信稱看好銀娛穩健的資產負債表,料可以抵禦近期行業波動,以捕捉未來的行業復甦趨勢。(wl/s)
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