华润电力(00836) - 2024 - 年度业绩

Financial Performance - The net profit attributable to the owners of the company for 2024 was HKD 14.39 billion, an increase of HKD 3.39 billion or 30.8% compared to HKD 11.00 billion in 2023[3]. - Basic earnings per share for 2024 were HKD 2.97, up 29.7% from HKD 2.29 in 2023[4]. - The operating profit for 2024 was HKD 23,224,531, up from HKD 18,198,396 in 2023, indicating a year-on-year increase of 27.9%[20]. - The total comprehensive income for the year ended December 31, 2024, was HKD 12,986,622, compared to HKD 10,048,346 in 2023, reflecting an increase of 29.4%[21]. - The profit attributable to the company's owners (excluding non-cash foreign exchange gains and losses) for 2024 is HKD 14.25 billion, compared to HKD 10.94 billion in 2023[46]. - Operating profit for 2024 was HKD 23.225 billion, an increase of HKD 5.027 billion or 27.6% compared to 2023, driven by lower coal prices and contributions from new projects[56]. - The proposed final dividend for 2024 is HKD 0.691 per share, up from HKD 0.587 per share in 2023[70]. Revenue and Costs - Total revenue for 2024 was HKD 105.28 billion, a slight increase from HKD 103.33 billion in 2023[7]. - The company's revenue for 2024 is HKD 105.28 billion, an increase of HKD 1.95 billion or 1.9% compared to HKD 103.33 billion in 2023[43]. - The total operating costs for 2024 are HKD 85.69 billion, a decrease of HKD 1.69 billion or 1.9% from HKD 87.38 billion in 2023[51]. - Fuel costs decreased by HKD 2.27 billion or 4.2% to HKD 52.24 billion in 2024, primarily due to a 6.6% drop in the average coal price[51]. - Employee benefits expenses rose by HKD 5.65 billion or 7.9% to HKD 7.75 billion in 2024, mainly due to new projects and acquisitions[52]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to HKD 362,464,381, an increase from HKD 322,395,990 in 2023, showing a growth of 12.4%[23]. - The total liabilities as of December 31, 2024, were HKD 242,512,342, compared to HKD 217,848,849 in 2023, indicating an increase of 11.3%[25]. - The company's equity attributable to owners increased to HKD 99,151,499 in 2024 from HKD 84,973,689 in 2023, representing a rise of 16.7%[25]. - The net debt to total equity ratio stood at 153.6% as of December 31, 2024, slightly up from 153.1% in 2023[8]. Cash Flow and Investments - Operating cash flow for the year ended December 31, 2024, was HKD 33,695,005 thousand, an increase of 16.3% from HKD 28,869,278 thousand in 2023[26]. - Net cash outflow from investing activities was HKD 52,074,178 thousand in 2024, up from HKD 43,985,600 thousand in 2023, indicating an 18.8% increase[28]. - Cash inflow from financing activities amounted to HKD 20,404,028 thousand in 2024, compared to HKD 11,828,974 thousand in 2023, representing a significant increase of 72.5%[30]. - The company reported a decrease in impairment losses to HKD 578,760 thousand in 2024 from HKD 2,748,698 thousand in 2023, a reduction of 78.9%[26]. - Cash and cash equivalents at the end of 2024 were HKD 5,834,307 thousand, an increase from HKD 4,082,972 thousand at the end of 2023, reflecting a growth of 43.0%[30]. Business Segments and Capacity - The core profit contribution from renewable energy business was HKD 9.23 billion, compared to HKD 9.73 billion in 2023, while the core profit from thermal power business increased to HKD 4.64 billion from HKD 3.61 billion[4]. - The installed capacity managed by the group reached 82,441 MW by the end of 2024, with a net increase in renewable energy capacity of 7,788 MW during the year[9]. - The company operates two business segments: thermal power (including coal and gas power) and renewable energy (including wind, solar, and hydro power)[44]. - The company aims to add 10,000 MW of new wind and solar capacity by 2025, targeting a renewable energy capacity share of 50% by the end of the 14th Five-Year Plan[15]. Employee and Governance - As of December 31, 2024, the company employed 21,849 employees, a decrease from 22,203 in 2023[91]. - The company has complied with the corporate governance code, with a temporary vacancy in the president position from April 24, 2023, to December 15, 2024[94]. - The auditor's report for the financial statements for the year ended December 31, 2024, was unqualified, confirming consistency with the audited financial statements[95]. Future Outlook and Plans - The cash capital expenditure for 2025 is projected to be approximately HKD 56.8 billion, with around HKD 42 billion allocated for wind and solar power station construction[18]. - The company plans to commission a total coal-fired power generation capacity of 6,093 MW in 2025, including multiple projects across different regions[18]. - The group plans to optimize its capital structure through dividend payments, issuing new shares, and debt management strategies[74].