万洲国际(00288) - 2024 - 年度业绩

Financial Performance - WH Group Limited reported a revenue of $25,941 million for the year ending December 31, 2024, a decrease of 1.1$26,236 million in 2023[3][16]. - The company experienced a 3.0% decline in meat product sales, totaling 3,100 thousand tons, and a 4.9% decrease in pork sales, totaling 3,765 thousand tons[2][4]. - Operating profit increased by 63.4% to $2,404 million, up from$1,471 million in the previous year[4][16]. - Profit attributable to the company's owners rose to $1,471 million, a 142.7$606 million in 2023[4][16]. - Basic earnings per share increased to 11.47 cents, compared to 4.72 cents in the previous year, reflecting a significant growth[4][16]. - Total revenue for the year ended December 31, 2024, was $25,941 million, a slight decrease of 1.1$26,236 million in 2023[82]. - Gross profit increased to $5,200 million, up 1.7$5,125 million in the previous year[82]. - Net profit for the year was $1,853 million, representing a significant increase of 115.1$860 million in 2023[84]. - Operating cash flow for the year was $2,519 million, an increase of 55.7$1,617 million in 2023[89]. Revenue Breakdown - In 2024, the company's revenue decreased by 1.1% to $25.941 billion, primarily due to a decline in meat products and pork sales, partially offset by price increases[17]. - Revenue from meat products was$13,655 million, up from $13,523 million in 2023, indicating an increase of about 1$10,343 million from $10,810 million, reflecting a decline of approximately 4.3$9,359 million, with a segment profit of $943 million[103]. - North America generated total segment revenue of$17,065 million, with a segment profit of $1,187 million[103]. - Europe contributed total segment revenue of$4,508 million, with a segment profit of $274 million[103]. Operational Efficiency - The company's total assets return rate improved to 9.5$356 million in the pork segment, a turnaround from an operating loss of $480 million in 2023, primarily due to improved performance in North America[25]. - The company has significantly improved its pork business performance in the U.S., driven by favorable market conditions compared to 2023 and a series of operational reforms in pig farming[79]. Dividends and Shareholder Returns - The company declared a special dividend of HKD 0.18 per share in addition to the interim and final dividends[4]. - The company plans to distribute a special cash dividend of HKD 0.18 per share, totaling approximately HKD 23.09 billion (about$2.97 billion) to shareholders[46]. - The board proposed a final dividend of HKD 0.40 per share for the year ending December 31, 2024, pending shareholder approval, resulting in a total dividend of HKD 0.50 per share for the year, compared to HKD 0.30 per share in 2023[135]. - The interim dividend of HKD 0.10 per share was paid on September 25, 2024, contributing to the total dividend amount[135]. Capital Expenditures and Investments - Capital expenditures for 2024 are projected at $707 million, a decrease of 12.5$812 million in 2023[50]. - The company completed the purchase of a high-end dry sausage production facility in Tennessee in July 2024, aimed at enhancing its value-added meat products business[59]. - The acquisition of Argal Alimentación, S.A. was completed in March 2024, with the company holding a 50.1% stake[61]. - The company established Murphy Family Farms LLC, expected to produce approximately 3.2 million pigs annually for its U.S. pork business[56]. Financial Position and Liquidity - As of December 31, 2024, the company had cash and bank balances of $2.055 billion, up from$1.156 billion in 2023[33]. - The company's net cash inflow from operating activities for 2024 was $2.519 billion, an increase from$1.617 billion in 2023, primarily due to significant profit growth[36]. - The total outstanding loans as of December 31, 2024, amounted to $3.330 billion, compared to$3.252 billion in 2023[41]. - The company's liquidity ratio as of December 31, 2024, was 1.9, an increase from 1.6 in 2023[33]. - The financial cost for 2024 decreased by 13.0% to $147 million, with an average interest rate on outstanding loans of 2.95%[48]. Sustainability and Corporate Responsibility - The company is committed to sustainable development, continuously monitoring greenhouse gas emissions across its operations and enhancing energy efficiency[72]. - The company has been recognized as a component of the Hang Seng Sustainable Development Index and received an A+ rating, reflecting its performance in sustainability[73]. Market Strategy and Future Outlook - The company aims to achieve substantial profit growth in 2024, with meat products being the core business and expected to deliver the best operational performance in history[79]. - The company will continue to implement the "two adjustments and one control" strategy, focusing on structural adjustments, price adjustments, and cost control to enhance competitiveness in the meat products sector[79]. - The company plans to adapt to geopolitical risks and macroeconomic changes by optimizing its supply chain and advancing diversification efforts[79]. - The company is focused on expanding its market network and enhancing its competitive advantages to ensure steady growth in its meat products business[79].