{"id":777015491,"date":"2024-05-14T09:25:23","date_gmt":"2024-05-14T12:25:23","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015491"},"modified":"2026-04-22T10:18:28","modified_gmt":"2026-04-22T13:18:28","slug":"clsa-improves-sjm-ebitda-forecast","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/clsa-improves-sjm-ebitda-forecast","title":{"rendered":"CLSA improves SJM EBITDA forecast"},"content":{"rendered":"\n

CLSA has upped its forecast by 9.3 per cent.<\/p>\n\n\n\n\n\n\n\n

Macau.- Investment group CLSA\u00a0has adjusted its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) forecast for\u00a0SJM Holdings<\/strong>\u00a0following the company’s first-quarter performance.\u00a0The revised forecast it 9.3 per cent higher<\/strong>, while the forecast for 2025 has been raised by 2.9 per cent.\u00a0<\/p>\n\n\n\n

Analysts attributed the adjustments to\u00a0increased non-gaming revenue projections\u00a0<\/strong>and margin assumptions for SJM Holdings’ key properties, Grand Lisboa and Grand Lisboa Palace (GLP).\u00a0CLSA noted that SJM Holdings’ performance in the first quarter exceeded expectations.<\/p>\n\n\n\n

Analysts cautioned that SJM Holdings’ margin expansion still may face challenges in the coming quarters as the company continues to invest in its salesforce and implement salary adjustments.<\/p>\n\n\n\n

However, GLP currently holds a market share of only 2.2 per cent, falling short of the targeted 5 per cent. Analysts emphasised the need for continued investment in infrastructure. CLSA does not expect dividends to return before 2026.<\/p>\n\n\n\n

In the first quarter of the year, SJM Holdings<\/a>\u00a0<\/strong>reported gross gaming revenue (GGR) was up 77.3 per cent year-on-year at HK$6.46bn (US$827m). Net gaming revenue was\u00a0up 74.5 per cent year-on-year<\/a>\u00a0to HK$6.46bn (US$827m). Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came in at HK$864m (US$110.5m), compared with HK$31m (US$4m) in the same period last year.<\/p>\n\n\n\n

See also: <\/strong>Macau gaming tax revenue up 98.2% in first 4 months of the year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

CLSA has upped its forecast by 9.3 per cent.<\/p>\n","protected":false},"author":176,"featured_media":777013109,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"CLSA has increased its EBITDA forecast for SJM Holdings for 2024 and 2025, citing stronger-than-expected Q1 performance driven by robust GGR and NGR growth. Despite positive revenue trends, analysts caution on margin expansion challenges due to ongoing salesforce investments and salary adjustments, alongside Grand Lisboa Palace's underperforming market share and the absence of dividends until 2026.","focusai_entities":"CLSA, SJM Holdings, Grand Lisboa, Grand Lisboa Palace","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GLP Market Share Strategy","query":"What specific strategic initiatives is SJM Holdings implementing to address Grand Lisboa Palace's underperforming market share relative to its 5% target, and what is the projected timeline for achieving this?"},{"label":"Margin Expansion Outlook","query":"Given the continued investment in salesforce and salary adjustments, what is CLSA's revised timeline for SJM Holdings to achieve sustainable margin expansion, and what are the key performance indicators for this progress?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,23108],"class_list":["post-777015491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777015491"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015491\/revisions"}],"predecessor-version":[{"id":777015498,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015491\/revisions\/777015498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777013109"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}