Earnings Alert: 1HFY6/24 EBITDA grew 12%; MEGA IDC reached satisfactory commitment rate of 60%
- 1HFY6/24 EBITDA rose 12%, slightly below market expectations
- MEGA IDC commenced operations, with 60% commitment rate, supporting future revenue growth in coming 2-3 years
- Cut EBITDA forecasts by 13%/11%/7% for FY24/25/26F, mainly on slower move-in and higher operating cost assumptions
- Maintain BUY on attractive dividend yield of 5%; TP of HK$4.1
