Reported Q: Q3 2024 Rev YoY: -0.3% EPS YoY: -9.1% Move: +1.07%
Fortune Real Estate
0778.HK
HKD4.71 1.07%
Exchange HKSE Sector Real Estate Industry REIT Retail
Q3 2024
Published: Sep 30, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for 0778.HK

Reported

Report Date

Sep 30, 2024

Quarter Q3 2024

Revenue

437.24M

YoY: -0.3%

EPS

-0.12

YoY: -9.1%

Market Move

+1.07%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $437.24M down 0.3% year-over-year
  • EPS of $-0.12 decreased by 9.1% from previous year
  • Gross margin of 65.0%
  • Net income of -241.29M
  • "" -
0778.HK
Company 0778.HK

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Executive Summary

Fortune REIT reported QQ3 2024 revenue of HKD 437.24 million and gross profit of HKD 284.12 million, with operating income of HKD 279.43 million and a reported net loss of HKD 241.29 million. The quarterly bottom line was dominated by a sizable Net Other Income/Expenses charge of HKD -489.64 million and a depreciation/amortization figure shown as a negative HKD -279.43 million, resulting in a negative net income despite a robust operating margin (operating income margin ~63.9%). On a YoY basis, revenue and gross profit were broadly stable (YoY revenue -0.3%, gross profit -0.8%), but QoQ results deteriorated sharply (revenue -49.8%, gross profit -51.3%, operating income -51.1%), reflecting seasonality and the meaningfully negative non-operating items this quarter. Net income declined to a negative HKD 241.29 million, with EPS of -HKD 0.12. The company maintains a strong equity base (HKD 26.93b) and a large real estate portfolio (16 properties totaling ~3.0 million sq ft of retail space), but reports limited liquidity with current ratio and quick ratio both well below 1.0 (0.0461 and 0.0461 respectively) and a cash balance of HKD 96.65 million at quarter end. Dividend yield stands at about 4.12%, though the negative earnings backdrop implies dividend sustainability hinges on recurring cash flow and distributable income going forward.

Key Performance Indicators

Revenue
Decreasing
437.24M
QoQ: -49.84% | YoY: -0.31%
Gross Profit
Decreasing
284.12M
64.98% margin
QoQ: -51.32% | YoY: -0.82%
Operating Income
Decreasing
279.43M
QoQ: -51.08% | YoY: -0.92%
Net Income
Decreasing
-241.29M
QoQ: -563.00% | YoY: -11.18%
EPS
Decreasing
-0.12
QoQ: -566.67% | YoY: -9.09%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2025 848.68 -0.25 +94.1% View
Q2 2025 854.47 -0.32 +95.4% View
Q1 2025 427.23 -0.16 -2.0% View
Q4 2024 874.48 -0.24 -10.9% View
Q3 2024 437.24 -0.12 -0.3% View