Xiaomi Q3 2024 $1810 (+2,98 %)

Financial performance:

Revenue: The company generated revenue of RMB 92.5 billionwhich represents an increase of 30,5 % compared to the previous year.

Net profit: Net profit for the quarter rose to RMB 5.3 billion in Q3 2024, compared to RMB 5.1 billion in Q2 2024.

Adjusted net profitSlightly increased by 1,2 % from RMB 6.2 billion in Q2 2024 to RMB 6.3 billion in Q3 2024.

Cash flow: The available financial resources increased to RMB 151.6 billionan increase of 18.7% YoY.

Balance sheet overview:

AssetsTotal assets amounted to RMB 350.9 billion (September 30, 2024).

Liabilities : Total liabilities amounted toTotal liabilities amounted to RMB 173.1 billion.

Shareholders' equityEquity amounted to RMB 177.8 billion.

Liquidity: Cash and cash equivalents at the end of the period amounted to RMB 39.7 billion.

Cash flow overview:

Operating activities: RMB 15.4 billion Net cash inflow.

Investing activities: RMB 29.3 billion Net cash outflow.

Financing activities: RMB 548 million Net cash outflow.

Key figures:

Gross margin: 20,4 %.

Operating expense ratio: Decrease to 11,7 %.

Net margin: Adjusted net margin of 6,8 %.

Segment information:

Smartphones: RMB 47.5 billion Sales (+13.9% YoY).

IoT and lifestyle products: RMB 26.1 billion sales (+26.3% YoY).

Smart EV and new initiatives: RMB 9.7 billion revenue (+52.3% QoQ).

Competitive position:

• Maintaining the 3rd place in global smartphone shipments with a market share of 13,8 %.

Forecasts and comments from management:

• Focus on R&D: Planned investments for a leading role in cutting-edge technologies.
• Growth potential: Smart home appliances, especially air conditioning systems, whose deliveries will increase by 55 % YoY have increased.

Risks and opportunities:

Risks:

• Currency risks due to exchange rate fluctuations.
• High investment costs for new initiatives.

Opportunities:

• Strong growth in smart EVs.
• Positive momentum for IoT and lifestyle products.

Positive aspects:

Sales growth: +30.5% YoY.

Cash position: +18.7 % YoY.

Smart EV growthSales increase of 52.3 % QoQ.

R&D investments: +19.9 % YoY.

Market position: Maintain 3rd place in the global smartphone market.

Negative aspects:

Currency risks due to global markets.

High investment costs in new business areas.

Decline in the smartphone ASP (average selling price).

Operating expenses remain substantial.

Value adjustments on inventories increased.

Overall : Expectations beaten

Revenue

92.5B

+1.5%

EBITDA

7.74B

+22.5%

EBIT

6.04B

+14.9%

EPS

0.25

+17.1%