《大行》野村:中移動(00941.HK)次季收入受壓 但利潤表現改善
野村發表報告指,中移動(00941.HK)次季收入受壓,但利潤表現改善。公司於8月7日(昨日)收市後公布上半年業績,管理層亦於同日舉行分析師簡報會。
報告指,上半年公司盈利按年增長5%,EBITDA按年增長2%,EBITDA 利潤率按年上升0.5個百分點至 39.8%。資本支出按年下降8.8%至584億元人民幣,並指引2025財政年度資本支出為1,512億元人民幣,較2024財政年度持續下降。自由現金流按年減少62.2%至255億元人民幣,該行認為可能是由於與政府及企業業務有關的應收賬款增加所致,而管理層預期這將於下半年有所改善。
另外,中移動管理層宣派中期股息每股2.75港元,按年增長5.8%,並指引2025財政年度的派息率將較2024財政年度高。評級「買入」,目標價106港元。
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