Azeus Systems Holdings (BBW) H2 2024 earnings summary

Executive summary

• FY2024 delivered record revenue of HK$328.9 million and net profit of HK$85.0 million, with product growth driving the results.

• FY2024 revenue rose 30% YoY and net profit increased 68% YoY; 2H revenue grew 44% YoY to HK$196.1 million.

Financial highlights

• FY2024 revenue was HK$328.9 million versus HK$252.9 million in FY2023; gross profit increased 28% to HK$233.5 million.

• Profit before income tax rose 70% YoY to HK$91.6 million; net profit attributable to equity holders increased 68% to HK$85.0 million.

• 2H FY2024 revenue rose 44% to HK$196.1 million, gross profit increased 46% to HK$142.6 million, and net profit grew 91% to HK$57.7 million.

• Cost of revenue increased 35% to HK$95.4 million in FY2024.

Outlook and guidance

• FY2025 outlook is cautiously optimistic for continued growth, barring unforeseen circumstances.

• Planned investment includes expanding geographical reach and R&D for new products and innovations.