Published Date: 31/03/2025
- We forecast overall market earnings could see a 17% yoy growth in 1Q25, from a gradually increasing base, supported by a low-interest-rate environment and the continued recovery of manufacturing and consumption.
- In 1Q25, we expect banking sector earnings to grow 15% yoy, driven by accelerated credit growth from the beginning of the year. Notable sectors with strong Q1 earnings growth include real estate (719% yoy), industrial parks (61% yoy), and energy (41% yoy).
- Some sectors are estimated to experience profit declines, such as aviation (-46% yoy) due to extraordinary income last year and oil & gas (-27% yoy) due to lower oil prices compared to the same period.
