新濠国际发展(00200) - 2023 - 中期业绩

Financial Performance - For the six months ended June 30, 2023, net revenue was HKD 13.04 billion, an increase of HKD 7.01 billion or 116.4% compared to HKD 6.03 billion for the same period in 2022[3]. - Adjusted EBITDA for the six months ended June 30, 2023, was HKD 3.20 billion, compared to HKD 168.2 million for the same period in 2022[3]. - The after-tax loss for the six months ended June 30, 2023, was HKD 1.40 billion, a significant improvement from an after-tax loss of HKD 4.58 billion for the same period in 2022[3]. - Basic loss per share attributable to owners of the company for the six months ended June 30, 2023, was HKD 0.49, compared to HKD 1.58 for the same period in 2022[3]. - The company reported a loss attributable to owners of HKD 4,197,202,000 for the period[8]. - The group reported a pre-tax loss of HKD 733,248,000 for the six months ended June 30, 2023, compared to a loss of HKD 2,374,583,000 for the same period in 2022, indicating a significant improvement[32]. - The company reported a net loss of HKD 1,402,622,000 for the six months ended June 30, 2023, compared to a net loss of HKD 4,579,376,000 for the same period in 2022, showing a reduction in losses[21][22]. Assets and Liabilities - Non-current assets as of June 30, 2023, totaled HKD 79.88 billion, slightly up from HKD 79.79 billion as of December 31, 2022[7]. - Current assets as of June 30, 2023, amounted to HKD 14.07 billion, down from HKD 17.30 billion as of December 31, 2022[7]. - As of June 30, 2023, the total current liabilities amounted to HKD 8,310,183,000, an increase of 14.2% from HKD 7,276,784,000 as of December 31, 2022[8]. - The net current assets decreased to HKD 5,755,960,000 from HKD 10,027,168,000, reflecting a decline of 42.6%[8]. - Non-current liabilities totaled HKD 73,530,401,000, down 3.7% from HKD 76,428,769,000[8]. - The company's equity decreased to HKD 12,105,562,000 from HKD 13,386,065,000, representing a decline of 9.5%[8]. - The total assets as of June 30, 2023, amounted to HKD 93,946,146,000, while total liabilities were HKD 81,840,584,000, reflecting a stable financial position[23]. Revenue Sources - The revenue from external customers in Macau for the six months ended June 30, 2023, was HKD 10,619,906,000, up from HKD 4,147,205,000 in the same period of 2022, marking an increase of approximately 156.5%[25]. - Customer contract revenue for the six months ended June 30, 2023, reached HKD 12,844,373,000, compared to HKD 5,843,392,000 for the same period in 2022, indicating a growth of approximately 119.5%[28]. - Casino revenue surged by 118.6% to HKD 10,723.3 million, up from HKD 4,904.9 million in the prior year[78]. - Non-gaming revenue for the six months ended June 30, 2023, totaled USD 127.2 million, compared to USD 62.1 million in the same period of 2022, indicating a strong recovery in this segment[83]. Operational Developments - The first phase of the City of Dreams Mediterranean opened on June 12, 2023, with full public access starting July 10, 2023[11]. - The second phase of the Studio City development is expected to open in September 2023[11]. - The company opened the Starry Sky and indoor water park in April 2023, contributing to improved operational performance[77]. - The group launched the second phase of Studio City and the first concert series featuring Asian superstars, enhancing market share growth[58]. - The group is upgrading facilities at Studio City, with the return of the show "The House of Dancing Water" expected in 2024[61]. Corporate Governance and Strategy - The board of directors recommended not to declare an interim dividend for the six months ended June 30, 2023[3]. - The company has established various board committees to maintain high corporate governance standards, including an Executive Committee and an Audit Committee[109]. - The company has not engaged in any purchases, sales, or redemptions of its listed securities during the six months ended June 30, 2023[112]. - The company has not conducted any foreign exchange hedging transactions for operational cash flows during the review period[102]. Market and Economic Conditions - The impact of the COVID-19 pandemic and geopolitical tensions continues to create uncertainty for future operational performance[11]. - Macau's tourism saw a significant recovery, with visitor numbers increasing by 236.1% year-on-year to 11.65 million in the first half of 2023, reaching an average of over 64,000 daily visitors[67]. - The Philippines' tourism industry is also recovering strongly, with over 3.2 million inbound travelers recorded in the first seven months of 2023[67]. Sustainability and Social Responsibility - The company aims to eliminate 14.8 million plastic bottles annually by fully implementing the NORDAQ filtration system across all properties in Macau[74]. - The company has committed to sourcing 100% cage-free eggs by 2025, with current operations in Manila already achieving this goal[75]. - The company received the "Best Environmental Responsibility Award" at the Asia Excellence Awards 2023, highlighting its commitment to sustainability[75]. Employee and Workforce - The total number of employees as of June 30, 2023, was 19,676, an increase from 17,270 as of June 30, 2022[105]. - Employee costs for the six months ended June 30, 2023, were HKD 2,991,700,000, compared to HKD 2,606,700,000 for the same period in 2022[105].