6 NAGACORP 金界控股有限公司 NAGACORP LTD.// 金界控股有限公司 (於同曼群島註冊成立的有限公司) 股份代號 : 3918 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|--------------------------------|-------|-------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | EBER | | | | | | | | | | | | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 NAGACORP LTD. 金界控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3918） 截至二零二四年六月三十日止六個月 中期業績公告 | --- | |----------------------------------------------------------------------------------------------------------------------------------------------| | | | 該期間未經審核簡明綜合中期業績摘要： | | ‧ 博 彩 總 收 入（「 博彩總收入 」）較 去 年 同 期 252,300,000 美元增長 283,400,000 美元 | | ‧ 中場博彩總收入較去年同期 162,900,000 美元增長 17.8% 至 192,000,000 元 | | ‧ 貴賓市場博彩總收入較去年同期增長 2.3% ...

a NAGACORP 金 界 控 股 有 限 公 司 NAGACORP LTD.// 金界控股有限公司 《於開曼群島註冊成立的有限公司) 股份代號 : 3918 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|--------------------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ...

Gaming Revenue and Market Performance - Gaming revenue increased by 15.5% to $514.8 million in 2023, compared to $445.9 million in 2022[1] - High-end VIP market turnover increased by 46.5% to $4.3 billion in 2023, driven by higher visitor numbers and average turnover per visit[1] - Referral VIP market gaming revenue rose by 67.6% to $44.2 million in 2023, supported by a 52.3% increase in business volume[1] - Mass market daily turnover recovered to 82.3% of pre-pandemic levels, with a 7.2% year-on-year increase in 2023[6] - High-end VIP market daily turnover recovered to 97.7% of pre-pandemic levels, with a 46.2% year-on-year revenue growth in 2023[7] - Referral VIP market revenue grew by 67.6% in 2023, supported by a 52.3% increase in turnover[8] - Casino operations revenue increased to $387.52 million in 2023, up from $321.57 million in 2022, representing a 20.5% growth[18] - Casino segment profit grew to $326.62 million in 2023, up 19.3% from $273.85 million in 2022[30] - Reported segment revenue increased to $538.3 million in 2023, up 15.4% from $466.3 million in 2022[31] - The mid-market segment's daily revenue increased by 7.2% year-on-year to $9,900,000, recovering 82.3% compared to the pre-pandemic peak year of 2019[45] - The high-end VIP market's daily rolling chip turnover grew by 46.5% year-on-year to $11,700,000, recovering 97.7% compared to the pre-pandemic peak year of 2019[45] - The mid-market and high-end VIP market segments contributed approximately 91.4% and 93.9% of the company's total gaming revenue and gross profit, respectively[45] - Mid-market (hall tables and electronic gaming machines) revenue increased by 9.4% and 6.1% respectively, driven by a large expatriate community, ASEAN tourists, and a rebound in Chinese tourists[57] - High-end VIP market turnover increased by 46.5% to $4.3 billion, with a win rate of 3.8%, generating $133.6 million in revenue, a 46.2% year-on-year increase[58] - Referral VIP market turnover grew by 52.3% to $1.9 billion, with a win rate of 2.3%, resulting in $44.2 million in revenue, a 67.6% year-on-year increase[59] - Total gaming revenue reached $514.8 million, with net gaming revenue at $443.45 million, representing a 15% and 13% year-on-year increase respectively[56] - Mid-market contributed 63% of total revenue ($337 million) with a gross margin of 89%, while high-end VIP market contributed 25% ($133.6 million) with a gross margin of 72%[60] - Referral VIP market contributed 8% of total revenue ($44.2 million) with a gross margin of 24%, and non-gaming contributed 4% ($18.4 million) with a gross margin of 84%[60] - Total revenue for the year was $460.7 million, with the mid-market segment contributing $328.1 million (71%) and the high-end VIP market contributing $91.4 million (20%)[61] Financial Performance and Profitability - Net profit surged by 65.7% to $177.7 million in 2023, up from $107.3 million in 2022[1] - EBITDA grew by 20.3% to $295.3 million in 2023, with an EBITDA margin of 55.4%[1] - Revenue for the year 2023 increased to $533.247 million, up from $460.693 million in 2022, representing a growth of approximately 15.7%[11] - Gross profit rose to $421.636 million in 2023, compared to $375.966 million in 2022, reflecting an increase of about 12.1%[11] - Operating profit for 2023 was $198.676 million, a significant increase from $131.722 million in 2022, marking a growth of approximately 50.8%[11] - Net profit attributable to the company's owners reached $177.732 million in 2023, up from $107.254 million in 2022, showing a growth of about 65.7%[11] - Basic earnings per share increased to 4.02 cents in 2023 from 2.42 cents in 2022, reflecting a growth of approximately 66.1%[11] - Total comprehensive income for the year 2023 was $175.319 million, compared to $106.554 million in 2022, indicating a growth of about 64.5%[12] - Pre-tax profit for 2023 was $177.73 million, a significant increase from $107.25 million in 2022, marking a 65.7% growth[25] - Pre-tax profit surged to $178.0 million in 2023, a 65.6% jump from $107.5 million in 2022[31] - Net profit increased by 65.7% to $177,700,000, and EBITDA grew by 20.3% to $295,300,000 in the current year[44] - Net profit attributable to shareholders was $177.7 million, with a net profit margin of 33.3% (2022: 23.3%). Basic earnings per share were 4.02 cents (31.16 HK cents)[63] - Net profit attributable to the company's owners increased to $177,732 thousand in 2023, up from $107,254 thousand in 2022, representing a significant growth[73] - EBITDA for 2023 reached $295,338 thousand, compared to $245,416 thousand in 2022, showing a strong financial performance[73] Cash Flow and Financial Position - Cash and bank balances increased significantly to $367.6 million as of December 31, 2023, up from $175.2 million in 2022[9] - Net debt stood at $103.4 million as of 2023, with a net debt-to-equity ratio of 5.1% and a net debt-to-EBITDA ratio of 0.35x[9] - Current assets increased significantly to $409.531 million in 2023 from $229.964 million in 2022, representing a growth of approximately 78.1%[13] - Total equity rose to $2,024.646 million in 2023, up from $1,849.327 million in 2022, reflecting an increase of about 9.5%[13] - Total assets increased to $3.15 billion in 2023, up 5.4% from $2.99 billion in 2022[30] - Total assets grew to $2.75 billion in 2023, up 6.2% from $2.59 billion in 2022[31] - Cash and bank balances (including restricted bank balances and time deposits) totaled $367.6 million, a significant increase from $175.2 million in 2022[68] - The company's net asset value increased to $2.0 billion (2022: $1.8 billion), and the asset-to-liability ratio improved to 5.1% (2022: 15.9%)[68] - The company's cash and fixed deposits stood at $367.6 million as of December 31, 2023, supported by business recovery and prudent cash management[50] - The company's debt-to-equity ratio improved significantly to 5.1% as of December 31, 2023, compared to 15.9% at the end of 2022[50] - The company secured an $80 million loan at an 8% annual interest rate to refinance and partially repay $472.2 million in 2024 senior notes due in July 2024[50] Capital Expenditures and Investments - Capital expenditures significantly decreased to $39.93 million in 2023 from $243.71 million in 2022, an 83.6% reduction[30] - Property, plant and equipment purchases dropped to $39.9 million in 2023, an 83.6% decrease from $243.8 million in 2022[33] - The company invested at least $350 million in a Russian gaming and resort project through an investment agreement[35] - The Naga 3 project's foundation and underground floors are expected to be fully completed by Q1 2024[74] - The company has indefinitely suspended the development of its Vladivostok gaming and resort project due to force majeure events[74] Dividends and Share Issuance - The company did not declare any interim or final dividends for 2023, compared to $64.35 million in dividends declared for 2022[23][24] - Issued and fully paid ordinary shares increased to 4.42 billion in 2023 from 4.38 billion in 2022[41] - The company issued 40,853,806 shares under the scrip dividend scheme to pay 100% of the 2022 final dividend, with a market value of $0.804 per share (or HK$6.232 per share)[42] - The company issued 40,853,806 new ordinary shares under a scrip dividend scheme to pay 100% of the 2022 final dividend, based on a market price of 80.4 cents per share[67] - No final dividend was recommended for the year, compared to a final dividend of 0.75 US cents per share in 2022[80] Tourism and Economic Recovery - The number of international tourists visiting Cambodia in 2023 reached 5,500,000, recovering 82.5% compared to 2019[46] - As of February 15, 2024, there were 507 weekly direct flights to Cambodia, with 399 from Southeast Asia (including Korea and Japan) and 108 from Greater China[46] - Flight capacity from Southeast Asia (including Korea and Japan) and Greater China to Cambodia has recovered to approximately 83.3% and 26.0%, respectively, compared to pre-pandemic levels[46] - Cambodia is expected to attract 7,000,000 international tourists by 2025, surpassing the pre-pandemic level of 6,600,000 in 2019[46] - Cambodia's foreign direct investment (FDI) reached $4.9 billion in 2023, a 22% year-on-year increase, with China accounting for two-thirds of the total investment[47] - Cambodia's economy is recovering steadily, with tourism identified as a key driver for GDP growth, supported by infrastructure investments and regional trade agreements[75] - The opening of new airports, such as Siem Reap Angkor International Airport and Phnom Penh Techo Takhmao International Airport, is expected to boost international tourism in Cambodia by 2025[75] - Cambodia has implemented the "China Ready" strategy to attract Chinese tourists, including allowing the use of RMB in hotels, restaurants, and tourism services[76] - The company expects a surge in demand driven by the recovery of international tourism and increased flight frequencies, benefiting NagaWorld's property traffic[76] - The company remains optimistic about its long-term prospects, with NagaWorld positioned to benefit from Cambodia's overall economic growth and tourism recovery[77] Corporate Social Responsibility (CSR) and Environmental Initiatives - NagaWorld has organized over 660 corporate social responsibility (CSR) activities since 2014, involving approximately 6,700 employees[52] - The company's fire safety awareness initiative has engaged over 11,000 community participants and donated 28 fire extinguishers[52] - NagaWorld Kind Hearts recycled over 1,600 kg of soap, benefiting nearly 460 families, and recycled over 130 kg of used batteries in 2023[53] - NagaWorld Kind Hearts planted approximately 1,300 trees in Kampong Speu as part of its environmental conservation efforts[53] - NagaWorld received multiple international awards, including the Stevie® Award for Corporate Social Responsibility and the ESG Icon Recognition Award[54] Operational and Administrative Expenses - Administrative and other operating expenses (excluding impairment losses, depreciation, and amortization) decreased by $3.2 million (2.4%) to $134.3 million[62] - The company employed 6,038 staff (2022: 6,398), with total employee costs of $88.4 million (2022: $87.4 million)[69] - The company's financing costs for the year were $20.7 million (2022: $24.3 million), related to interest expenses and transaction costs for the 2024 senior notes[63] - Financing costs decreased to $20.71 million in 2023 from $24.26 million in 2022, a 14.6% reduction[19] Trade Receivables and Other Financial Metrics - Trade receivables (net of impairment) increased to $13.8 million in 2023 from $9.1 million in 2022[36] - Trade receivables increased from $9.1 million to $13.8 million, with no impairment losses recognized during the year (2022: $2.4 million)[71] - The company repurchased $77,845,000 of the 2024 senior notes at a purchase price between 91.83% to 92.10%, resulting in $472,155,000 of the 2024 senior notes remaining outstanding[43] - The company's shares held through the Stock Connect program reached 25.7 million as of February 15, 2024, reflecting increased liquidity and investor interest[51] Non-Gaming Revenue and Other Business Segments - Non-gaming (hotel, dining, and entertainment) revenue increased by 24.5%, benefiting from the reopening of China and other regional countries[60] - Gross profit for the year was $421.6 million, with an overall gross margin of 79% (2022: 82%). The mid-market segment maintained a high gross margin of 89% (2022: 90%)[61] Accounting and Financial Reporting - The company adopted new or amended International Financial Reporting Standards (IFRS) effective from January 1, 2023, which impacted the accounting policy disclosures but did not affect the measurement, recognition, or presentation of any items in the financial statements[15] - Non-current assets decreased slightly to $2,341.325 million in 2023 from $2,359.692 million in 2022, a reduction of approximately 0.8%[13] - Non-current assets in Cambodia decreased slightly to $2.05 billion in 2023 from $2.08 billion in 2022[32] - Intangible assets, including casino license premiums, stood at $123.0 million with accumulated amortization of $63.2 million[34]

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香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 NAGACORP LTD. 金界控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3918） 截至二零二三年六月三十日止六個月 中期業績公告 | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------| | | | 該期間未經審核簡明綜合中期業績摘要： | | ‧ 博 彩 總 收 入（「 博彩總收入 」）較 去 年 同 期 233,800,000 美元增長 252,300,000 美元 | | ‧ 該期間的純利較去年同期 52,700,000 美元增長 57.4% 至 83,000,000 美元 | | ‧ 該期間的每股股份基本盈利為 ...

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