Globavend (Nasdaq: GVH) Reports FY2024 Net Income Growth of 24% Y/Y, Announces FY2024 Results
Globavend (NASDAQ: GVH), an e-commerce logistics services provider, has announced its fiscal year 2024 financial results, highlighting significant growth in key metrics. The company reported a 24% year-over-year increase in net income, reaching $1.34 million. Other notable financial achievements include a 13% growth in earnings per share to $0.09 and revenue of $16.5 million with a gross profit margin of 14.6%.
CEO Frank Yau attributed the strong performance to the team's dedication and the company's ability to adapt to market conditions, emphasizing their commitment to delivering value to customers and stakeholders.
Globavend (NASDAQ: GVH), un fornitore di servizi logistici per l'e-commerce, ha annunciato i risultati finanziari per l'anno fiscale 2024, evidenziando una crescita significativa in metriche chiave. L'azienda ha riportato un aumento del 24% dell'utile netto rispetto all'anno precedente, raggiungendo 1,34 milioni di dollari. Altri risultati finanziari notevoli includono una crescita del 13% degli utili per azione, arrivando a 0,09 dollari, e ricavi di 16,5 milioni di dollari con un margine di profitto lordo del 14,6%.
Il CEO Frank Yau ha attribuito la forte performance alla dedizione del team e alla capacità dell'azienda di adattarsi alle condizioni di mercato, sottolineando il loro impegno nel fornire valore ai clienti e agli stakeholder.
Globavend (NASDAQ: GVH), un proveedor de servicios logísticos de comercio electrónico, ha anunciado sus resultados financieros para el año fiscal 2024, destacando un crecimiento significativo en métricas clave. La compañía reportó un aumento del 24% en ingresos netos en comparación con el año anterior, alcanzando 1.34 millones de dólares. Otros logros financieros notables incluyen un crecimiento del 13% en ganancias por acción a 0.09 dólares y unos ingresos de 16.5 millones de dólares con un margen de beneficio bruto del 14.6%.
El CEO Frank Yau atribuyó el sólido desempeño a la dedicación del equipo y a la capacidad de la empresa para adaptarse a las condiciones del mercado, enfatizando su compromiso de ofrecer valor a los clientes y partes interesadas.
글로바벤드 (NASDAQ: GVH), 전자상거래 물류 서비스 제공업체가 2024 회계연도 재무 결과를 발표하며 주요 지표에서 상당한 성장을 강조했습니다. 회사는 전년 대비 24% 증가한 순이익을 기록하여 134만 달러에 도달했습니다. 다른 주목할 만한 재무 성과로는 주당 순이익 13% 증가가 있어 0.09달러에 이르렀고, 1650만 달러의 수익과 14.6%의 총 이익률을 달성했습니다.
CEO 프랭크 야우는 팀의 헌신과 시장 조건에 적응하는 회사의 능력 덕분에 이러한 강력한 성과를 거두었다고 설명하며, 고객과 이해관계자에게 가치를 제공하겠다는 의지를 강조했습니다.
Globavend (NASDAQ: GVH), un fournisseur de services logistiques pour le commerce électronique, a annoncé ses résultats financiers pour l'exercice 2024, mettant en avant une croissance significative dans des indicateurs clés. L'entreprise a rapporté une augmentation de 24% du bénéfice net par rapport à l'année précédente, atteignant 1,34 million de dollars. D'autres réalisations financières notables incluent une croissance de 13% du bénéfice par action à 0,09 dollar et un chiffre d'affaires de 16,5 millions de dollars avec une marge brute de 14,6%.
Le PDG Frank Yau a attribué cette forte performance à l'engagement de l'équipe et à la capacité de l'entreprise à s'adapter aux conditions du marché, soulignant leur engagement à offrir de la valeur aux clients et aux parties prenantes.
Globavend (NASDAQ: GVH), ein Anbieter von E-Commerce-Logistikdienstleistungen, hat seine finanziellen Ergebnisse für das Geschäftsjahr 2024 bekannt gegeben und dabei ein signifikantes Wachstum in wichtigen Kennzahlen hervorgehoben. Das Unternehmen berichtete von einem 24%igen Anstieg des Nettogewinns im Vergleich zum Vorjahr, der 1,34 Millionen Dollar erreichte. Weitere bemerkenswerte finanzielle Erfolge sind ein 13%iges Wachstum des Gewinns pro Aktie auf 0,09 Dollar und ein Umsatz von 16,5 Millionen Dollar mit einer Bruttogewinnmarge von 14,6%.
CEO Frank Yau führte die starke Leistung auf das Engagement des Teams und die Fähigkeit des Unternehmens zurück, sich an die Marktbedingungen anzupassen, und betonte ihr Engagement für die Schaffung von Mehrwert für Kunden und Interessengruppen.
- Net income increased 24% year-over-year to $1.34 million
- EPS grew 13% to $0.09
- Revenue reached $16.5 million with 14.6% gross profit margin
- None.
Insights
The FY2024 results reveal both strengths and challenges in Globavend's business model. With revenue of
The divergence between net income growth (
A deeper analysis of the revenue-to-market cap ratio reveals an interesting dynamic. With a market capitalization of approximately
The e-commerce logistics sector typically requires substantial capital investment for automation and infrastructure. Given Globavend's current scale, the company may face challenges competing with larger, better-capitalized rivals who can achieve superior economies of scale. The modest gross margin suggests pricing power and potential difficulties in funding future growth initiatives without additional external capital.
PERTH, AUSTRALIA, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Globavend Holdings Limited (“Globavend” or the “Company”) (NASDAQ: GVH), an emerging e-commerce logistics services provider, today announced its financial results for the fiscal year 2024. The Company has recorded a significant growth of
“We are thrilled to announce our financial results for the fiscal year 2024, which reflect our commitment to delivering value to our customers and stakeholders,” said Frank Yau, CEO of Globavend. “Our strong net income growth is a testament to the hard work and dedication of our team, as well as our ability to adapt to the changing market conditions.”
Financial Highlights
- Net income grew
24% year-over-year to$1.34 million - Earnings per share (“EPS”) grew
13% year-over-year to$0.09 - Revenue of
$16.5 million , representing a gross profit margin of14.6% .
About Globavend Holdings Limited
Globavend Holdings Limited, an emerging e-commerce logistics provider, offers end-to-end logistics solutions in Hong Kong, Australia, and New Zealand. The Company primarily serves enterprise customers, including e-commerce merchants and operators of e-commerce platforms, facilitating business-to-consumer (B2C) transactions. As an e-commerce logistics provider, Globavend delivers integrated cross-border logistics services from Hong Kong to Australia and New Zealand. It provides customers with a comprehensive solution, encompassing pre-carriage parcel drop-off, parcel consolidation, air-freight forwarding, customs clearance, on-carriage parcel transportation, and final delivery.
Forward-Looking Statement
This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 20-F for the year ended September 30, 2024, which is on file with the SEC and are available on our investor relations website at https://globavend.com/ and on the SEC website at www.sec.gov, as well as the subsequent Current Reports on Form 6-K or other filings with the SEC. Readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We undertake no duty to update this information unless required by law.
For investor and media inquiries, please contact:
Globavend Holdings Limited
Wai Yiu Yau, Chairman and CEO
project@globavend.com (61) 8 6141 3263
GLOBAVEND HOLDINGS LIMITED
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2023 AND 2024
(US$, except share data, or otherwise note)
| As of September 30, | ||||||||
| 2023 | 2024 | |||||||
| US$ | US$ | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and cash equivalents | $ | 554,132 | $ | 2,296,462 | ||||
| Accounts receivable, net | 1,429,299 | 1,684,644 | ||||||
| Deposits and prepayment | 17,566 | 203,178 | ||||||
| Deposits and prepayment – related party | 169,834 | - | ||||||
| Deferred costs | 1,306,441 | 374,286 | ||||||
| Contract assets | 543,838 | 897,409 | ||||||
| Total current assets | $ | 4,021,110 | $ | 5,455,979 | ||||
| NON-CURRENT ASSETS | ||||||||
| Property, plant, equipment, net | $ | 13,274 | $ | 123,101 | ||||
| Right-of-use assets, operating lease | 119,881 | 32,711 | ||||||
| Deposits and prepayment | 320,513 | 1,743,423 | ||||||
| Deposits – related party | - | 600,000 | ||||||
| Total non-current assets | $ | 453,668 | $ | 2,499,235 | ||||
| TOTAL ASSETS | $ | 4,474,778 | $ | 7,955,214 | ||||
| LIABILITIES AND EQUITY | ||||||||
| Current Liabilities | ||||||||
| Accounts payable | $ | 2,601,253 | $ | 649,183 | ||||
| Accounts payable – related party | - | 1,627,269 | ||||||
| Other payables and accrued liabilities | 1,096,016 | 235,193 | ||||||
| Amount due to a director | - | 8,586 | ||||||
| Taxes payables | 155,210 | 224,438 | ||||||
| Operating lease liabilities - current | $ | 39,886 | 41,019 | |||||
| Total current liabilities | $ | 3,892,365 | $ | 2,785,688 | ||||
| Non-current liabilities | ||||||||
| Operating lease liabilities – non-current | 80,237 | - | ||||||
| Total non-current liabilities | $ | 80,237 | $ | - | ||||
| TOTAL LIABILITIES | $ | 3,972,602 | $ | 2,785,688 | ||||
| Commitments | - | |||||||
| EQUITY | ||||||||
| Ordinary shares, | 13,125 | 14,931 | ||||||
| Subscription receivable | (13,125 | ) | (13,125 | ) | ||||
| Additional paid-in capital | 128,205 | 3,454,741 | ||||||
| Retained earnings | 373,971 | 1,712,979 | ||||||
| Total shareholders’ equity | $ | 502,176 | $ | 5,169,526 | ||||
| TOTAL LIABILITIES AND EQUITY | $ | 4,474,778 | $ | 7,955,214 | ||||
GLOBAVEND HOLDINGS LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE YEARS ENDED SEPTEMBER 30, 2022, 2023 AND 2024
(US$, except share data, or otherwise note)
| For the year ended September 30, | ||||||||||||
| 2022 | 2023 | 2024 | ||||||||||
| Revenue | 24,021,196 | 18,586,528 | 16,540,179 | |||||||||
| Cost of revenue | 16,621,775 | 10,521,866 | 7,223,445 | |||||||||
| Cost of revenue – related party | 5,993,543 | 6,159,075 | 6,897,332 | |||||||||
| Cost of revenue | 22,615,318 | 16,680,941 | 14,120,777 | |||||||||
| Gross Profit | 1,405,878 | 1,905,587 | 2,419,402 | |||||||||
| Operating expenses: | ||||||||||||
| General and administrative expenses | 588,732 | 758,726 | 1,079,349 | |||||||||
| Total operating expenses | $ | 588,732 | $ | 758,726 | $ | 1,079,349 | ||||||
| Income from operations | $ | 817,146 | $ | 1,146,861 | $ | 1,340,053 | ||||||
| Other income: | ||||||||||||
| Interest income | 108 | 3,481 | 68,205 | |||||||||
| Interest expense | (2,755 | ) | (1,066 | ) | (2,393 | ) | ||||||
| Other income | 122,289 | 120,367 | 156,953 | |||||||||
| Total other income | 119,642 | 122,782 | 222,765 | |||||||||
| Income before income taxes | $ | 936,788 | $ | 1,269,643 | $ | 1,562,818 | ||||||
| Income taxes provision | 126,561 | 192,251 | 223,810 | |||||||||
| Net income attributable to Globavend Holdings Limited | $ | 810,227 | $ | 1,077,392 | $ | 1,339,008 | ||||||
| Comprehensive income | $ | 810,227 | $ | 1,077,392 | $ | 1,339,008 | ||||||
| Earnings per share - Basic and diluted | $ | 0.06 | $ | 0.08 | $ | 0.09 | ||||||
| Weighted Average Basic and Diluted Number of Ordinary Shares Outstanding* | 13,125,000 | 13,125,000 | 14,559,582 | |||||||||
| * | Shares presented on a retroactive basis to reflect the reorganization. |
FAQ
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