GLDD Latest Report

Financial Performance

Based on GLDD's 2024 financial data, the Company's total operating revenue reached RMB202774000, up approximately 11.55% from RMB181729000 in 2023. This growth indicates improvement in the Company's operating revenue, which may be attributed to factors such as rising market demand, improved project execution efficiency, and cost control.

Key Financial Data

1. GLDD's total operating revenue in 2024 was RMB202774000, up 11.55% from 2023.

2. The Company successfully obtained five new dredging project contracts in 2024, with a total value of US$173.7 million, demonstrating strong project acquisition ability.

3. The total backlog of GLDD's dredging work as of the first quarter of 2024 was US$879.4 million, indicating strong market demand.

4. The Company effectively controls costs through improving equipment utilization and project execution capabilities, enhancing profitability.

5. In the first quarter of 2024, GLDD's operating revenue reached US$21.1 million, and adjusted EBITDA was US$42.9 million, achieving its best performance since the fourth quarter of 2021.

Industry Comparison

1. Industry-wide analysis: The marine engineering and environmental services industry has generally shown an upward trend in total operating revenue under the support of policies and market demand. The industry is expected to continue growing, especially with stable recovery in the demand for underwater operations and marine engineering equipment.

2. Peer evaluation analysis: Compared with other companies in the industry, GLDD's total operating revenue growth is at a medium-to-high level, demonstrating its adaptability and growth potential in the market competition.

Summary

GLDD showed positive revenue growth in 2024, mainly benefiting from the acquisition of new contracts, increased market demand, and effective cost control measures. Overall, the Company maintains a good market position in the industry and has a promising future.

Opportunities

1. With the rise in market demand for marine engineering, GLDD can continue to expand new projects and further enhance operating revenue.

2. The successful acquisition of new contracts provides a solid revenue base for the Company, which is expected to attract more business in the future.

3. Continuous improvement in cost control and project management helps to further enhance profitability.

4. Industry innovation and policy support may bring new market opportunities for the Company.

Risks

1. Intensified industry competition may affect the Company's market share and profitability.

2. Fluctuations in market demand may lead to unstable revenue, requiring attention to changes in the macroeconomic environment.

3. There may be risks of cost overruns during project execution, affecting overall profitability.

4. Failure to continuously acquire new contracts compared to competitors may affect the Company's long-term development.