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香格里拉(亚洲)(00069) - 2024 - 中期财报
00069SHANGRI-LA ASIA(00069)2024-09-19 09:18

Financial Performance - For the six months ended June 30, 2024, the consolidated revenue was 1,049.1million,anincreaseof4.31,049.1 million, an increase of 4.3% or 43.1 million compared to 1,006.0millionforthesameperiodin2023[6].−Theprofitattributabletothecompany′sownersbeforenon−operatingitemswas1,006.0 million for the same period in 2023[6]. - The profit attributable to the company's owners before non-operating items was 59.1 million, a decrease of 8.5% or 5.5millionfrom5.5 million from 64.6 million in the same period last year[4]. - After accounting for non-operating items, the profit attributable to the company's owners was 94.5million,down28.194.5 million, down 28.1% or 36.9 million from 131.4millioninthepreviousyear[4].−Theearningspersharefortheperiodwas131.4 million in the previous year[4]. - The earnings per share for the period was 2.661, representing a decline of 27.8% from 3.688inthepreviousyear[4].−Thegroup′searningsbeforeinterest,tax,depreciation,andamortization(EBITDA)beforenon−operatingitemswas3.688 in the previous year[4]. - The group's earnings before interest, tax, depreciation, and amortization (EBITDA) before non-operating items was 252.3 million, down 5.2% or 13.7millionfrom13.7 million from 266.0 million in the same period last year[6]. - The actual attributable EBITDA from the company, subsidiaries, and associates was 381.5million,adecreaseof3.8381.5 million, a decrease of 3.8% or 15.0 million from 396.5millioninthepreviousyear[6].−Thenetprofitfortheperiodwas396.5 million in the previous year[6]. - The net profit for the period was 107,890,000, a decrease of 24.2% compared to 142,464,000intheprioryear[12].−Thetotalcomprehensiveincomefortheperiodwas142,464,000 in the prior year[12]. - The total comprehensive income for the period was 14,743,000, a significant improvement from a loss of 118,654,000inthepreviousyear[13].−ThetotalprofitattributabletothegroupforthesixmonthsendedJune30,2024,was118,654,000 in the previous year[13]. - The total profit attributable to the group for the six months ended June 30, 2024, was 381.5 million, a decrease of 3.8% compared to 396.5millionforthesameperiodin2023[110].RevenueBreakdown−Roomrevenueincreasedto396.5 million for the same period in 2023[110]. Revenue Breakdown - Room revenue increased to 508,553,000, up 4.4% from 486,282,000inthepreviousyear[23].−Thehoteloperationssegmentgeneratedrevenueof486,282,000 in the previous year[23]. - The hotel operations segment generated revenue of 1,055.0 million in 2024, compared to 1,009.0millionin2023,reflectingagrowthofapproximately4.61,009.0 million in 2023, reflecting a growth of approximately 4.6%[28]. - Revenue from investment properties increased by 13.9% to 59.7 million, primarily due to improved performance in Mongolia and Sri Lanka[89]. - The hotel management and related services segment saw revenue growth of 11.8%, reaching 119.3millioncomparedto119.3 million compared to 106.7 million in 2023[88]. - The company reported a total customer contract revenue of 989,384,000,comparedto989,384,000, compared to 953,486,000 in the same period last year, reflecting a growth of 3.8%[23]. Assets and Liabilities - The company's net asset value attributable to owners was 5,162.5millionasofJune30,2024,adecreaseof1.15,162.5 million as of June 30, 2024, a decrease of 1.1% from 5,222.4 million at the end of 2023[5]. - Total assets as of June 30, 2024, amounted to 13,694,545,000,anincreasefrom13,694,545,000, an increase from 12,862,586,000 at the end of 2023[11]. - Total liabilities increased to 8,284,871,000from8,284,871,000 from 7,394,543,000, indicating a rise of 12.1%[11]. - The company reported cash and cash equivalents of 1,846,184,000,adecreasefrom1,846,184,000, a decrease from 870,797,000 at the end of 2023[10]. - The company’s total equity decreased slightly to 5,409,674,000from5,409,674,000 from 5,468,043,000, a decline of 1.1%[11]. Cash Flow and Financing - Net cash generated from operating activities was (1,703,000)forthefirsthalfof2024,adeclinefrom(1,703,000) for the first half of 2024, a decline from 42,283,000 in the same period of 2023[23]. - Investment activities generated a net cash inflow of 75,741,000,comparedtoanetcashoutflowof75,741,000, compared to a net cash outflow of (88,937,000) in the prior year[23]. - Financing activities resulted in a net cash inflow of 913,254,000,asubstantialincreasefrom913,254,000, a substantial increase from 6,123,000 in the previous year[23]. - The company reported a net financing cost of 133,165,000forthesixmonthsendedJune30,2024,comparedto133,165,000 for the six months ended June 30, 2024, compared to 81,709,000 for the same period in 2023, representing an increase of about 63.1%[62]. - The company’s interest expense on bank loans rose to 140,691,000forthesixmonthsendedJune30,2024,comparedto140,691,000 for the six months ended June 30, 2024, compared to 122,360,000 for the same period in 2023, an increase of approximately 15.0%[62]. Shareholder Information - The board declared an interim dividend of HKD 0.05 per share for 2024, compared to no dividend in 2023[3]. - The company paid dividends of 68,701,000fortheyear−end2023,reflectingacommitmenttoreturningvaluetoshareholders[15].−Thecompanyhasatotalof25,956,600shareawardsoutstandingasofJune30,2024,with522,900sharesgrantedduringthesix−monthperiod[145].−MajorshareholdersincludeKerryGroupLimited,whichisawholly−ownedsubsidiaryofKerryHoldings,holdingacombined93.09668,701,000 for the year-end 2023, reflecting a commitment to returning value to shareholders[15]. - The company has a total of 25,956,600 share awards outstanding as of June 30, 2024, with 522,900 shares granted during the six-month period[145]. - Major shareholders include Kerry Group Limited, which is a wholly-owned subsidiary of Kerry Holdings, holding a combined 93.096% of the company's shares[138]. Market and Operational Insights - The average occupancy rate for the group's hotels was 61%, up 1 percentage point from 60% for the six months ended June 30, 2023[94]. - In Hong Kong, total revenue increased by 7.9% to 150.6 million, with an occupancy rate of 75%, up 10 percentage points from 65%[96]. - The group continues to face competitive pressures in various markets, particularly in Singapore and France, while benefiting from recovery in Malaysia and the Philippines[98][100]. - The company continues to expand its hotel management services across various regions, including China, Singapore, and Malaysia[24]. Future Plans and Strategies - The company plans to continue expanding its investment properties, particularly in regions like Mongolia and Sri Lanka, to enhance revenue streams[89]. - The company is reviewing development plans for hotels in Rome, Yangon, and Bangkok, with equity interests of 100%, 55.86%, and 73.61% respectively[128]. - The company anticipates the completion of the Hangzhou Shangri-La upgrade in early 2025, setting new standards for its other hotels[131]. - The company acknowledges potential macro challenges, including inflation risks affecting consumer confidence, but remains focused on sustainable growth strategies[131].