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<Research>G Sachs Mildly Cuts CKI HOLDINGS TP to HKD69; Results in Line
Recommend 2 Positive 6 Negative 5 |
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CKI HOLDINGS (01038.HK) recorded a profit attributable to shareholders of HKD8.3 billion for 2025, according to a report from Goldman Sachs. Excluding one-off items (foreign exchange gains and changes in investment fair value), CKI HOLDINGS' core earnings grew by 6% YoY to HKD8.5 billion, in line with Goldman Sachs' expectations. This growth was mainly driven by increased contributions from Europe (up 58% YoY to HKD1 billion, or 50% YoY in local currency terms, benefiting from sturdy operational performance and deferred tax credits due to a reduction in Germany's corporate tax rate) and New Zealand (up 8% YoY to HKD200 million, or 13% YoY in local currency terms, supported by improved performance of Enviro NZ and Wellington Electricity). Goldman Sachs has tweaked down the 12-month target price based on net asset value for CKI HOLDINGS from HKD69.6 to HKD69, while keeping the Neutral rating unchanged. AAStocks Financial News |
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