ESR(01821) - 2023 - 中期财报

Financial Performance - Adjusted EBITDA for the first half of 2023 was $670 million, representing an 18$455.4 million, driven primarily by an increase in management fees[24]. - The net profit for the period was $313.9 million, down from$419.7 million in the previous year, indicating a decline of 25.2%[103]. - The company reported a decrease in other income and gains, totaling $214.8 million, compared to$290.3 million in the prior year, a drop of 26%[103]. - The company reported a total comprehensive income of $133.3 million for the period, compared to a loss of$38.1 million in the previous year, indicating a significant turnaround[103]. - The company reported a profit attributable to equity holders of $288,965,000, down from$380,607,000 for the same period in 2022, representing a decrease of approximately 24.2%[140]. Asset Management and Investments - The total assets under management reached approximately $1,470 billion, with a significant portion in the Asia-Pacific region[10]. - ESR Group's total assets under management increased by 9$147 billion, driven by a 13% growth in new economy assets under management to $69 billion[15]. - The total amount of capital available for investment was$78 billion, with $19.3 billion in uncalled capital[8]. - The company has$13 billion in ongoing development projects, with $3.8 billion in projects under construction and$2.2 billion in projects completed[9]. - The company raised USD 2 billion in new capital this year, with approximately 80% focused on new economy sectors[16]. Leasing and Occupancy - The company reported a strong leasing momentum with a rental growth of 10.4% and an occupancy rate of 92% for properties outside of China[8]. - The property portfolio's occupancy rate was nearly full at 98% for the overall portfolio[8]. - ESR's overall leasing rate was 92% in the first half of 2023, with a strong demand for modern logistics space driven by e-commerce, accounting for 72% of new leases[17]. - The weighted average lease expiry (WALE) is currently 4.7 years, with 29% of leases expiring in the next 18 months, positioning the company to benefit from rental growth[17]. Dividends and Shareholder Returns - A mid-term dividend of HKD 0.125 per share (approximately USD 0.016) was declared, amounting to about $70 million[5]. - The board proposed an interim dividend of HKD 0.125 per share, equivalent to approximately USD 0.016, representing a yield of 2.2$69,886,000, compared to zero in 2021[137]. Financial Position and Liquidity - The company maintains a strong balance sheet with a debt-to-equity ratio of 27.6% and USD 3 billion in cash liquidity, sufficient to cover total loan repayments for the next three years[19]. - The company has a cash balance of $1.1 billion, which is part of its active capital management strategy[28]. - The net debt to total asset ratio decreased from 27.6$4 billion as of August 2023, enhancing its leadership in sustainable financing[22]. - The company has adhered to the corporate governance code and principles as outlined in the listing rules during the six months ending June 30, 2023[87]. Employee Stock Ownership and Compensation - The company has established various employee stock option plans to align the interests of board members and employees with those of shareholders[46]. - The total remuneration for key management personnel amounted to $6,285,000 for the six months ended June 30, 2023, up from$5,279,000 in the same period of 2022[190]. - The employee stock option plan is intended to incentivize, reward, and retain key members of the management team[198]. Financial Reporting and Compliance - The company has implemented new accounting standards effective January 1, 2023, which are expected to impact annual financial statement disclosures but have no significant effect on the interim financial data[118]. - The company does not anticipate any significant impact from the revised International Accounting Standards on its financial position or performance[119].