国泰航空(00293) - 2024 - 年度业绩

Financial Performance - Total revenue for 2024 reached HKD 104,371 million, representing a 10.5% increase from HKD 94,485 million in 2023[3] - Shareholders' profit attributable to Cathay Pacific Group was HKD 9,888 million, a slight increase of 1.0% compared to HKD 9,789 million in 2023[3] - Basic earnings per share rose to HKD 149.2, up 6.0% from HKD 140.8 in the previous year[3] - Cathay Group recorded a profit attributable to shareholders of HKD 9.888 billion in 2024, compared to HKD 9.789 billion in 2023, representing a slight increase[12] - The earnings per share for 2024 was HKD 1.492, up from HKD 1.408 in 2023[12] - The group achieved a solid financial performance in the second half of 2024, driven by increased cargo demand, passenger volume growth, and lower fuel prices[12] - The group reported a profit of HKD 8.849 billion from its airline and subsidiaries in 2024, down from HKD 9.225 billion in 2023[12] - The net profit attributable to shareholders was HKD 9,888 million in 2024, compared to HKD 10,000 million in 2023, indicating a slight decline[77] - Operating profit for 2024 was HKD 13,928 million, a decrease of 7.9% from HKD 15,125 million in 2023[65] - Total comprehensive income for the year was HKD 9,429 million, up from HKD 7,937 million in 2023[66] Revenue Breakdown - Passenger revenue for Cathay Pacific reached HKD 62.59 billion, an increase of 11.9% compared to 2023[26] - Cargo revenue increased by 8.3% to HKD 24 billion, with overall cargo tonnage rising by 10.9% to 1.5 million tons[26] - Passenger service revenue rose to HKD 68,589 million, up 11.0% from HKD 61,437 million in 2023[65] - The cargo service revenue rose to HKD 27,417 million, reflecting a growth of 7.1% from HKD 25,606 million in the previous year[50] Operational Metrics - The number of available tonne-kilometers increased by 17.0% to 24,836 million from 21,225 million in 2023[5] - Revenue passenger kilometers grew by 26.8% to 93,016 million, compared to 73,342 million in 2023[5] - The passenger load factor decreased by 2.5 percentage points to 83.2% from 85.7% in the previous year[5] - The average age of the fleet increased to 11.8 years from 11.1 years in 2023[5] - The company has hired and trained approximately 7,000 new employees in 2024, bringing the total workforce to over 30,000[23] Environmental Impact - The total greenhouse gas emissions rose by 20.8% to 12.8 million tonnes of CO2 equivalent[5] - The sustainable aviation fuel program achieved a total annual consumption of approximately 6,270 tons, increasing over ninefold compared to 2023[64] Debt and Financial Position - The net debt-to-equity ratio increased to 1.10 from 0.88, reflecting a rise in net borrowings to HKD 57,941 million, up 9.8% from HKD 52,764 million[3] - Borrowings increased to HKD 68.47 billion, a rise of 0.3%, with net borrowings (excluding cash) increasing by 9.8% to HKD 57.94 billion[60] - The group's equity attributable to shareholders decreased by 12.5% to HKD 52.5 billion due to various factors including the redemption of preferred shares[60] Dividends - The company declared a dividend of HKD 0.69 per share, a significant increase of 60.5% from HKD 0.43 in 2023[3] - The total dividend payout for ordinary shareholders for the year 2024 will be HKD 0.69 per share, amounting to HKD 4.44 billion[15] - The company has committed to maintaining a dividend policy of distributing approximately half of the consolidated after-tax profit, excluding non-cash special items, to ordinary shareholders[119] Future Plans and Investments - The group plans to invest over HKD 100 billion in 2024 to enhance passenger and cargo capacity, as well as customer experience[11] - The group is set to receive over 100 new generation aircraft during the year[11] - The group aims to restore flight numbers to pre-pandemic levels by January 2025[11] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[72] Challenges and Market Conditions - Despite challenges in 2025 and beyond, including trade conflicts and supply chain issues, Cathay remains committed to operational safety and quality[32] - The company reported a loss of HKD 400 million in 2024, compared to a profit of HKD 433 million in 2023, impacted by operational issues and market price normalization[28] Employee and Operational Growth - The company has maintained strong lobster exports to Hong Kong, contributing to the overall performance in fresh produce exports[49] - The company introduced new cabin products on the Boeing 777-300ER, receiving positive customer feedback[24] - Cathay Catering produced 23.6 million meals and handled 57,834 flights, representing increases of 21% and 33% respectively compared to 2023[62] Market Expansion - The company launched 15 new passenger routes in 2024, aiming to reach pre-pandemic flight levels by January 2025[22] - The group plans to add 11 new destinations to its network by 2025, enhancing its global reach[30] - The company announced the launch of direct flights to Munich starting June 2025, enhancing connectivity to major European cities[41]