银河娱乐(00027) - 2024 - 年度业绩

Financial Performance - Adjusted EBITDA for the year reached HKD 12.2 billion, an increase of 22% year-on-year[2] - Net profit attributable to shareholders for the year was HKD 8.8 billion, up 28% year-on-year[2] - The group's total net income for the year was HKD 43.4 billion, an increase of 22% year-on-year[12] - In Q4, the group's net income was HKD 11.3 billion, up 9% year-on-year and 6% quarter-on-quarter[12] - Q4 adjusted EBITDA was HKD 3.2 billion, a 15% increase year-on-year and a 10% increase quarter-on-quarter[12] - The company reported a net profit of HKD 8,814,404 thousand for the year ended December 31, 2024, compared to HKD 6,873,976 thousand in 2023, which is an increase of 28.2%[29][31] - The company reported a pre-tax profit of HKD 8,759,247 for 2024, up from HKD 6,827,956 in 2023, indicating a growth of 28.4%[38] - The group's net revenue for 2024 was HKD 43.43 billion, a year-on-year increase of 22%[46] - Adjusted EBITDA for 2024 was HKD 12.19 billion, reflecting a 22% year-on-year growth[47] Visitor Statistics - The number of international visitors to Macau increased by 66% year-on-year to 2.4 million[3] - The number of visitors to Macau in 2024 was 34.9 million, a 24% increase year-on-year, recovering to 89% of 2019 levels[44] - The total number of international visitors to Macau increased by 66% from 1.5 million in 2023 to 2.4 million in 2024[44] Cash and Investments - Total cash and liquid investments amounted to HKD 31.3 billion, with a net amount of HKD 27.1 billion after deducting liabilities of HKD 4.2 billion[3] - Cash and liquid investments as of December 31, 2024, amounted to HKD 31.3 billion, with a net amount of HKD 27.1 billion after deducting liabilities[12] - Cash and cash equivalents rose significantly to HKD 20.39 billion in 2024, up from HKD 14.51 billion in 2023, marking an increase of 40.4%[16] - The company maintains a net cash position as of December 31, 2024, with no leverage ratio reported[81] Dividends - The board proposed a final dividend of HKD 0.50 per share, reflecting confidence in the long-term prospects of Macau and the group[3] - The board proposed a final dividend of HKD 0.50 per share, expected to be distributed around June 2025[12] - The company declared a special dividend of HKD 0.30 per share, totaling HKD 1,311,091, compared to HKD 0.20 per share in 2023[36] - The company declared a final dividend of HKD 0.50 per share, totaling approximately HKD 21.90 billion, to be paid in June 2025[43] - The total dividend for the year ending December 31, 2024, will be HKD 1.00 per share, combining the interim and proposed final dividends[89] Assets and Liabilities - Total assets increased to HKD 94.58 billion in 2024 from HKD 87.22 billion in 2023, representing a growth of 8.5%[16] - Total liabilities as of December 31, 2024, were HKD 18,186,407, an increase from HKD 15,998,364 in 2023[33] - The company’s total liabilities increased to HKD 18.19 billion in 2024 from HKD 15.99 billion in 2023, reflecting a rise of 13.7%[16] - Total equity increased to HKD 76.39 billion in 2024 from HKD 71.22 billion in 2023, an increase of 7.7%[16] Gaming Operations - Total revenue for the gaming operations business reached HKD 41,145,377 thousand in 2024, up from HKD 31,722,235 thousand in 2023, representing a growth of 29.5%[25] - Net revenue from gaming operations after commissions and incentives was HKD 33,826,345 thousand in 2024, compared to HKD 27,289,868 thousand in 2023, an increase of 24.1%[25] - The total gaming revenue for 2024 reached HKD 41.15 billion, up 30% compared to the previous year[46] - Adjusted EBITDA for the gaming and entertainment segment was HKD 11,462,329 thousand for the year ended December 31, 2024, compared to HKD 9,417,222 thousand in 2023, reflecting a growth of 22%[29] Non-Gaming Initiatives - The company is focusing on developing non-gaming businesses in the fourth phase of its Cotai project, targeting entertainment and family-friendly facilities[12] - The company plans to invest over HKD 33 billion in non-gaming initiatives to enrich Macau's tourism offerings under the new gaming license[72] - The ongoing Phase 4 project will introduce several high-end hotel brands to Macau, a theater with up to 5,000 seats, diverse dining, retail, non-gaming facilities, and is targeted for completion in 2027[74] Operational Developments - The introduction of electronic gaming tables across all venues is expected to enhance operational efficiency and customer management[6] - The company is progressing with the internal renovations and Phase 4 development of Galaxy Macau, focusing on non-gaming facilities[6] - The Galaxy International Convention Center and Galaxy Theatre are undergoing upgrades, with a focus on high-end hotel brands and diverse non-gaming facilities[70] - The company is expanding its presence in Macau with the renovation of its tenth hotel, Galaxy Macau, expected to open in mid-2025, featuring approximately 100 luxury villas and suites[74] Market Position - Galaxy Macau has been recognized as the resort with the most Forbes Five-Star rated hotels for three consecutive years[6] - The company is focusing on enhancing its resorts with new dining and retail options to maintain competitiveness[67]