长和(00001) - 2024 - 年度业绩

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 476,682 million, representing a 3% increase from HKD 461,558 million in 2023[2]. - EBITDA for the same period was HKD 125,108 million, down 1% from HKD 127,309 million in 2023[2]. - Reported profit attributable to shareholders was HKD 17,088 million, a decrease of 27% compared to HKD 23,500 million in 2023[2]. - Basic earnings per share for 2024 was HKD 4.46, down 27% from HKD 6.14 in 2023[6]. - The board proposed a final dividend of HKD 1.514 per share, a decrease of 15% from HKD 1.775 in 2023[7]. - EBIT totaled HKD 58,758 million, reflecting a 6% decline compared to HKD 62,770 million in 2023[29]. - Net profit after tax fell by 20% to HKD 23,790 million in 2024 compared to HKD 29,921 million in 2023[31]. - The company reported a significant decline in EBIT for the financial and investment segment, down 53% to HKD 6,875 million from HKD 14,525 million in 2023[31]. Segment Performance - The port and related services segment recorded revenue of HKD 45,282 million, an 11% increase driven by a 6% rise in throughput[9]. - Retail segment revenue totaled HKD 190,193 million, a 4% increase, with EBITDA and EBIT both rising by 1%[11]. - CK Hutchison Group Telecom's revenue reached HKD 88,371 million, a 2% increase from last year, with EBITDA and EBIT rising by 8% and 54% respectively[16]. - The European 3 Group's revenue was HKD 81,710 million, a 2% increase year-on-year, driven by an increase in total customers and effective revenue growth measures[17]. - The infrastructure segment reported a 10% year-on-year increase in operating profit, with a net profit of HKD 8,150 million, reflecting a 1% increase compared to the previous year[14]. Impairments and Provisions - The group recognized a one-time non-cash impairment and other provisions of HKD 3,700 million related to its telecommunications business in Vietnam[5]. - The financial and investment segment reported a decline in EBITDA and EBIT due to a one-time non-cash impairment of HKD 3,740 million in the Vietnam telecom business[20]. - The impairment loss from the Vietnam telecommunications business is HKD 1,859 million, primarily due to increased competition and declining revenue expectations[152]. Cash Flow and Debt - The group's cash and cash equivalents totaled HKD 129,445 million, with total debt amounting to HKD 259,059 million, resulting in a net debt to total equity ratio of 16.2%[21]. - Operating cash flow before changes in working capital for 2024 was HKD 75,130 million, a slight decrease from HKD 75,416 million in 2023[139]. - Net cash from operating activities for 2024 was HKD 6,953 million, compared to HKD 54,228 million in 2023[72]. - The company reported a decrease in cash and cash equivalents by $(771) million during 2024[72]. - The total amount of cash, cash equivalents, and other marketable securities was HKD 16,596 million at the end of 2024, down from HKD 143,109 million in 2023[73]. Tax and Regulatory Matters - The total tax expense for 2024 is HKD 4,717 million, compared to HKD 3,003 million in 2023, indicating an increase of 57.1%[156]. - The group expects no significant tax risks related to the OECD's Pillar Two rules for the fiscal year ending December 31, 2024[156]. - The group anticipates that the new tax regulations will take effect starting January 1, 2025, with no immediate impact expected on the current fiscal year[156]. Environmental and Social Responsibility - The group achieved a 20% reduction in carbon emissions compared to baseline levels, aligning with its carbon reduction targets[23]. - The group received multiple awards for diversity and inclusion, highlighting its commitment to a supportive work environment[24]. Future Outlook - The company anticipates improved operational performance in the port sector in 2025, despite potential supply chain disruptions[9]. - The company plans to limit capital expenditures and focus on cash flow management due to an unstable operating environment[26]. - The company plans to continue focusing on market expansion and new product development in the upcoming fiscal year[75].