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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  CapitaLand Limited    CATL   SG1J27887962

CAPITALAND LIMITED

(CATL)
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CapitaLand : 3Q Revenue Beat Expectations -- Earnings Review

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11/04/2019 | 09:33pm EST

By Yifan Wang

CapitaLand Ltd. (C31.SG) released its earnings results for the third quarter on Tuesday. Here is what we watched for:

REVENUE: Third-quarter revenue rose 37% from a year earlier to 1.73 billion Singapore dollars (US$1.27 billion), beating a FactSet forecast of S$1.38 billion.

NET PROFIT: While FactSet didn't provide an estimate for net profit, the group reported a 7.8% decline due to a lack of divestment gains that boosted earnings a year earlier. Net profit for the quarter was S$333.9 million (US$245.7 million).

WHAT WE WATCHED:

--OPERATING EARNINGS: Despite lower net profit, the developer's operating profit, which excludes divestment, revaluation or impairment influences, was 19% higher in the quarter, as a newly acquired subsidiary made its first full-quarter contribution. Development projects in China and fee income in Vietnam also boosted operational earnings, which fell in the previous quarter amid muted performance of Singapore and Chinese residential projects.

--ASSET RECYCLING: CapitaLand has divested more than S$5.2 billion in assets and released S$2.4 billion of net capital back to the group so far this year, it said. "This will enhance our financial flexibility to seize potential opportunities ahead," its chief executive said.

Write to Yifan Wang at yifan.wang@wsj.com

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Financials (SGD)
Sales 2019 5 693 M
EBIT 2019 2 849 M
Net income 2019 1 666 M
Debt 2019 25 412 M
Yield 2019 3,33%
P/E ratio 2019 12,1x
P/E ratio 2020 11,3x
EV / Sales2019 7,74x
EV / Sales2020 6,45x
Capitalization 18 639 M
Technical analysis trends CAPITALAND LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 16
Average target price 4,34  SGD
Last Close Price 3,70  SGD
Spread / Highest target 52,4%
Spread / Average Target 17,2%
Spread / Lowest Target 2,70%
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Managers
NameTitle
Chee Koon Lee Group Chief Executive Officer & Director
Kee Choe Ng Chairman
Cho Pin Lim Chief Financial Officer
Amirsham bin Abdul Aziz Independent Non-Executive Director
Ching Yen Lee Independent Non-Executive Director
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