In today’s briefing:
- Cloudflare Inc.: Can Its Enhanced Utilization in AI and Agents Help Catalyze Top-Line Growth?
- Yum! Brands: The Digital Surge Is Real—But Will It Be Enough to Fend Off Competition?
- Tech Supply Chain Tracker (15-Feb-2025): China smartphone market, 4Q ’24
- Fortinet: Can Its Unified SASE Approach Help Capture A Larger Chunk Of The Market!
- Hilton Worldwide: The Luxury Expansion That Could Send Shares to New Highs!
- JTEC Corp (3446 JP) – Reaffirming Long-Term Vision
- Lupin Ltd (LPC IN): Differentiated Portfolio Drives Solid Q3FY25 Performance; Momentum to Continue
- GENOVA (9341 JP): Q3 FY03/25 flash update
- Harley-Davidson: Can “The Hardwire” Strategy Save This Iconic Brand from Market Share Collapse?
- Kalbe Farma (KLBF IJ) – Increasingly Healthy Recovery
Cloudflare Inc.: Can Its Enhanced Utilization in AI and Agents Help Catalyze Top-Line Growth?
- Cloudflare Inc. concluded 2024 with a robust performance, reporting notable financial and operational achievements for the fourth quarter.
- Revenue reached $459.9 million, marking a 27% increase compared to the previous year.
- The company reported significant growth in its large customer segment—those contributing over $100,000 annually—with a year-over-year uptick of 27% in this segment, representing 69% of total revenue, up from 66% the previous year.
Yum! Brands: The Digital Surge Is Real—But Will It Be Enough to Fend Off Competition?
- Yum!
- Brands’ recent earnings presentation offers insights into the company’s performance and strategic trajectory, highlighting both strengths and challenges.
- The company, encompassing renowned brands like KFC, Taco Bell, and Pizza Hut, presented a mixed set of results for the latest financial year, characterized by robust digital growth, strategic expansions, and cost management, contrasted by varied performance across different market segments.
Tech Supply Chain Tracker (15-Feb-2025): China smartphone market, 4Q ’24
- China smartphone market in 4Q 2024 expected to see growth, intensifying competition among top brands.
- GlobalWafers remains stable despite uncertainty around US CHIPS Act funding.
- Yageo surprises with Shibaura Electronics takeover bid, Foxconn proposes partnership with Nissan, Forces Mos wins patent case against Asus.
Fortinet: Can Its Unified SASE Approach Help Capture A Larger Chunk Of The Market!
- Fortinet Inc.’s fiscal results for the fourth quarter and the entire year of 2024 demonstrate both strengths and challenges within the company.
- Positively, Fortinet achieved a total revenue growth of 17% for the quarter, marking a significant upturn, especially in product revenue, which attained an 18% increase—the best in six quarters.
- The company’s strategic focus on secure networking, particularly in Unified SASE, resulted in a growth of 13% for this segment, making up 23% of the company’s business.
Hilton Worldwide: The Luxury Expansion That Could Send Shares to New Highs!
- Hilton Worldwide Holdings Inc. provided a comprehensive overview of its performance in the fourth quarter and full year of 2024, demonstrating robust growth and strategic expansion across its hotel portfolio.
- The company reported strong financial results, including record unit growth, significant increases in revenue per available room (RevPAR), and notable expansion in strategic partnerships and brand diversity.
- For 2024, Hilton achieved a system-wide RevPAR increase of 2.7% compared to the previous year, showing growth across all segments and major regions.
JTEC Corp (3446 JP) – Reaffirming Long-Term Vision
- Q1-2 FY6/25 results showed the core Optical business experienced sales growth and generated segmental profits, which was positive.
- Focusing on developing the Life Science & Equipment segment involving upfront investment resulted in flattish operating losses YoY overall.
- FY company guidance has been maintained, implying an earnings recovery HoH driven by the Optical segment experiencing order visibility and new customer acquisition.
Lupin Ltd (LPC IN): Differentiated Portfolio Drives Solid Q3FY25 Performance; Momentum to Continue
- Lupin Ltd (LPC IN) has reported solid set of numbers for Q3FY23, with revenue increasing 11% YoY, EBITDA growing 32% YoY, and net profit improving 39% YoY.
- North America revenue increased 12% YoY and 8% QoQ to record high of INR21B. Strong momentum in complex portfolio and continued cost optimization are driving consistent profitable growth in U.S.
- Complex generics are expected to contribute 50%+ of revenue in the next couple of years. This calls for accelerated growth and better margin.
GENOVA (9341 JP): Q3 FY03/25 flash update
- Revenue increased by 24.7% YoY to JPY7.6bn, with operating profit rising 10.6% YoY to JPY1.6bn.
- Medical Platform business achieved 18.9% YoY revenue growth, with average contract unit price at JPY1.4mn (-0.2% YoY).
- Smart Clinic business saw 45.1% YoY revenue growth, with hardware and software services contributing 64.0% and 36.0% respectively.
Harley-Davidson: Can “The Hardwire” Strategy Save This Iconic Brand from Market Share Collapse?
- Harley-Davidson’s recent performance reflects a mixed bag of operational and strategic shifts amid challenging macroeconomic conditions.
- The company’s 2024 fourth-quarter results exhibited a significant decline, with consolidated revenue decreasing by 35% compared to the previous year.
- This decline was primarily driven by the Harley-Davidson Motor Company (HDMC) segment, which saw revenue drop by 47% as a result of a 53% decrease in wholesale shipments.
Kalbe Farma (KLBF IJ) – Increasingly Healthy Recovery
- Kalbe Farma (KLBF IJ) booked an impressive set of FY2024 results, booking healthy growth driven by pharmaceuticals, distribution & Logistics, and consumer health, with slower growth from its nutritionals segment.
- The company continues to pursue growth in oncology and biologic drugs in its pharmaceutical segment, whilst pursuing strategic collaborations and pursuing National Health exposure.
- Kalbe Farma is pursuing wellness products in consumer health and repositioning toward more affordable products in the nutritional space. Valuations are attractive on 17x FY2025E PER.
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