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Ernest Borel Holdings Limited logo

Ernest Borel Holdings Limited

1856.HK

HKSEConsumer CyclicalLuxury Goods

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Latest quote

HK$1.60

−HK$0.005 · -0.31%

Aug 24, 3:34 PM HKT

1856.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Ernest Borel Holdings Limited operates as an investment holding company, primarily focusing on the design, production, promotion, and worldwide distribution of Swiss-made mechanical and quartz watches for both male and female clientele. Its products are marketed under the distinguished Ernest Borel brand and are sold in various regions, including mainland China, Hong Kong, Macau, Europe, and other international markets. The company further provides essential assembly and after-sales support for its timepieces. Established in 1856, Ernest Borel Holdings Limited is headquartered in Mong Kok, Hong Kong, and functions as a subsidiary of VGB Limited.

Industry
Luxury Goods
Sector
Consumer Cyclical
Headquarters
CH
CEO
Teguh Halim
Listed since
Jul 11, 2014
Employees
307

Market position

Day range

Current HK$1.60

52-week range

Current HK$1.60

Open
HK$1.58
Previous close
HK$1.605
Volume
151K
1.21× average
Average volume
125.24K
Average daily volume
Market cap
576.41M HKD
Beta
0.07
Market reference 1
50-day average
HK$1.3998
+14.30% above average
200-day average
HK$1.6995
-5.85% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
705.86M HKD
P/E (TTM)
-10.98×
P/B (TTM)
9.82×
P/S (TTM)
7.26×
EV / EBITDA
-14.34×
Earnings yield
-7.75%
Free cash flow yield
-4.13%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
4.11%
Operating margin
-92.42%
Net margin
-66.15%
Return on equity
-89.40%
Return on assets
-10.12%
Return on invested capital
-62.43%

Financial health

Debt / equity
0.63×
Current ratio
1.03×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends76%15%-46%-108%Gross margin, FY2021: 60.86%Gross margin, FY2022: 54.71%Gross margin, FY2023: 52.77%Gross margin, FY2024: 8.69%Gross margin, FY2025: 4.11%Operating margin, FY2021: -14.11%Operating margin, FY2022: -1.17%Operating margin, FY2023: -16.00%Operating margin, FY2024: -78.50%Operating margin, FY2025: -92.42%Net margin, FY2021: -21.32%Net margin, FY2022: -8.79%Net margin, FY2023: 11.44%Net margin, FY2024: -48.29%Net margin, FY2025: -66.15%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 60.86%. Gross margin FY2022 54.71%. Gross margin FY2023 52.77%. Gross margin FY2024 8.69%. Gross margin FY2025 4.11%. Operating margin FY2021 -14.11%. Operating margin FY2022 -1.17%. Operating margin FY2023 -16.00%. Operating margin FY2024 -78.50%. Operating margin FY2025 -92.42%. Net margin FY2021 -21.32%. Net margin FY2022 -8.79%. Net margin FY2023 11.44%. Net margin FY2024 -48.29%. Net margin FY2025 -66.15%.

Income trends

Revenue

79.35M HKD-20.08%

Operating income

−73.33M HKD+5.91%

Net income

−52.49M HKD-9.49%
Income trends across reported periods189.29M HKD92.11M HKD−5.06M HKD−102.23M HKDRevenue, FY2021: 149.25M HKDRevenue, FY2022: 137.37M HKDRevenue, FY2023: 164.99M HKDRevenue, FY2024: 99.28M HKDRevenue, FY2025: 79.35M HKDOperating income, FY2021: −21.06M HKDOperating income, FY2022: −1.61M HKDOperating income, FY2023: −26.39M HKDOperating income, FY2024: −77.94M HKDOperating income, FY2025: −73.33M HKDNet income, FY2021: −31.82M HKDNet income, FY2022: −12.07M HKDNet income, FY2023: 18.87M HKDNet income, FY2024: −47.94M HKDNet income, FY2025: −52.49M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 149.25M HKD. Revenue FY2022 137.37M HKD. Revenue FY2023 164.99M HKD. Revenue FY2024 99.28M HKD. Revenue FY2025 79.35M HKD. Operating income FY2021 −21.06M HKD. Operating income FY2022 −1.61M HKD. Operating income FY2023 −26.39M HKD. Operating income FY2024 −77.94M HKD. Operating income FY2025 −73.33M HKD. Net income FY2021 −31.82M HKD. Net income FY2022 −12.07M HKD. Net income FY2023 18.87M HKD. Net income FY2024 −47.94M HKD. Net income FY2025 −52.49M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue79.35M HKD99.28M HKD164.99M HKD137.37M HKD149.25M HKD
Cost of goods sold76.08M HKD90.66M HKD77.93M HKD62.21M HKD58.42M HKD
Gross profit3.27M HKD8.62M HKD87.06M HKD75.15M HKD90.84M HKD
Selling, general, and administrative79.28M HKD86.56M HKD106.63M HKD77.01M HKD111.72M HKD
Operating expenses76.6M HKD86.56M HKD113.46M HKD77.01M HKD111.9M HKD
Interest income9K HKD180K HKD184K HKD6K HKD43K HKD
Interest expense10.1M HKD9.97M HKD9.3M HKD11.28M HKD13.52M HKD
Depreciation and amortization24.12M HKD17.21M HKD24.24M HKD11.72M HKD14.16M HKD
Operating income−73.33M HKD−77.94M HKD−26.39M HKD−1.61M HKD−21.06M HKD
Net income−52.49M HKD−47.94M HKD18.87M HKD−12.07M HKD−31.82M HKD

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
-0.12

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.090.01-0.08-0.16Q2 '21Q4 '21Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual -0.014, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual -0.078, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 30, 2022: actual -0.028, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 31, 2023: actual -0.007, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 31, 2023: actual 0.004, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 28, 2024: actual 0.049, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 30, 2024: actual -0.015, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 28, 2025: actual -0.118, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates85.94M69.52M53.09M36.67MQ2 '21Q4 '21Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual 80.11M HKD, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 69.14M HKD, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 30, 2022: actual 59.39M HKD, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 31, 2023: actual 77.98M HKD, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 31, 2023: actual 82.54M HKD, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 28, 2024: actual 82.45M HKD, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 30, 2024: actual 40.07M HKD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 28, 2025: actual 59.21M HKD, estimate —, surprise —, Comparison unavailable.

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