《大行報告》中金下調百威亞太(01876.HK)目標價至21.8元 因南韓市場承壓
中金發表報告指,百威亞太(01876.HK)海外業務分化,南韓市場受宏觀因素影響,經營情況受壓,加上去年同期社會重新開放後基數較高,預測今年第三季南韓市場收入料跌15%以上,EBITDA跌幅料逾15%,拖累整體收入按年跌幅達到低單位數,而盈利按年升幅料維持單位數。
至於印度市場,該行預測由於當地啤酒市場仍處於較高增長階段,因此預測第三季收入及盈利將錄得高雙位數增長。計及南韓業務影響,中金將百威亞太今明兩年EBITDA預測下調4.26%及4.13%,至21.03億及23.95億美元,目標價相應降至21.8港元。
中金預期,百威亞太中國業務第三季整體仍好過行業平均水平,收入料按年持平或微升,EBITDA增長幅度更高。
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