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金沙中国有限公司(01928) - 2021 - 年度财报
01928SANDS CHINA LTD(01928)2022-03-24 08:31

Financial Performance - The total net revenue for the year ended December 31, 2021, was 2,870,000,000,anincreaseof70.42,870,000,000, an increase of 70.4% compared to 1,690,000,000 for the year ended December 31, 2020[5]. - The adjusted property EBITDA for the year ended December 31, 2021, was 341,000,000,recoveringfromanadjustedpropertyEBITDAlossof341,000,000, recovering from an adjusted property EBITDA loss of 428,000,000 for the year ended December 31, 2020[5]. - The company reported a loss of 1,050,000,000fortheyearendedDecember31,2021,whichisanimprovementfromalossof1,050,000,000 for the year ended December 31, 2021, which is an improvement from a loss of 1,520,000,000 for the year ended December 31, 2020[5]. - The gaming revenue for the year ended December 31, 2021, was 1,990million,up70.01,990 million, up 70.0% from 1,170 million in the previous year, driven by increased visitor numbers due to eased travel restrictions[108]. - Hotel revenue increased by 91.7% to 276millionfrom276 million from 144 million year-over-year, indicating a significant recovery in occupancy rates[107]. - Shopping mall revenue rose by 75.8% to 473millioncomparedto473 million compared to 269 million in the previous year, reflecting improved consumer spending[107]. - The company reported a net loss attributable to shareholders of 1,050millionfortheyearendedDecember31,2021,comparedtoalossof1,050 million for the year ended December 31, 2021, compared to a loss of 1,520 million in 2020, representing a 30.9% improvement[181]. - The basic loss per share for the year ended December 31, 2021, was 12.95 cents (1.01 HKD), down from 18.82 cents (1.46 HKD) in 2020, indicating a reduction of 31.0%[181]. Visitor Statistics - In 2021, Sands China attracted a total of 41,600,000 visitors across its properties, averaging approximately 114,000 visitors per day[11]. - The total number of visitors to Macau in 2021 was 7.7 million, representing a 30.7% increase from 2020, but an 80.4% decrease from 2019[56]. - The total number of visitors to The Venetian Macao in 2021 was approximately 12.8 million, compared to 10.8 million in 2020 and 36 million in 2019, indicating a significant recovery post-COVID-19[77]. - The Londoner Macao's total visitor count for 2021 was approximately 9.8 million, up from 6.4 million in 2020 and down from 19.2 million in 2019[81]. - Macau Parisian had a total of approximately 5,500,000 visitors in 2021, compared to 4,000,000 in 2020 and 13,000,000 in 2019, indicating a recovery trend[83]. Operational Developments - The company operates the largest integrated resort in Macau, with 12,373 hotel rooms and suites, and a retail shopping area of 2,100,000 square feet[4]. - The company launched the Londoner Hotel in January 2021, featuring 594 London-themed suites, as part of its major development project in Macau[8]. - The company provided medical observation facilities at the Sheraton Grand Macao Hotel, accommodating over 10,000 individuals during the pandemic[8]. - Sands China hosted approximately 731,000 visitors for MICE (Meetings, Incentives, Conferences, and Exhibitions) activities, with 672,000 attending 34 exhibitions and trade fairs[14]. - The company has invested over 15,000,000,000tosupportthediversificationofMacauseconomyandenhanceitspositionasaleadingleisureandbusinesstraveldestinationinAsia[45].SustainabilityandCorporateResponsibilitySandsChinawasrecognizedasacomponentoftheDowJonesSustainabilityIndexfortheAsiaPacificregion,rankinginthetop2015,000,000,000 to support the diversification of Macau's economy and enhance its position as a leading leisure and business travel destination in Asia[45]. Sustainability and Corporate Responsibility - Sands China was recognized as a component of the Dow Jones Sustainability Index for the Asia Pacific region, ranking in the top 20% of developed regions[1]. - The company established an Environmental, Social, and Governance (ESG) committee to oversee the implementation of sustainability measures[1]. - The company aims to reduce Scope 1 and Scope 2 greenhouse gas emissions by 17.5% compared to the 2018 baseline by 2025[190]. - Sands China has committed to donating 20,000 hygiene kits to global charity Children International in the Philippines as part of its ongoing corporate social responsibility efforts[189]. - The company has been recognized as a component of the DJSI Asia Pacific Sustainability Index and ranked 9th in the Hong Kong Business Sustainability Index[192]. Strategic Initiatives - The company aims to provide 7,000,000 hours of employee development training and 110,000 hours of volunteer service by 2025[1]. - The company continues to expand its market presence and enhance customer service standards across its properties[18]. - The company is exploring partnerships with local firms to enhance distribution channels and improve market penetration[34]. - The company plans to implement cost-cutting measures aimed at reducing operational expenses by 5% in the upcoming year[34]. - The company aims to maintain its leadership position in the integrated resort sector through ongoing innovation and strategic initiatives[18]. Challenges and Risks - The ongoing global pandemic has significantly impacted the company's financial and operational performance, leading to a focus on the safety and well-being of team members and customers[44]. - The company faces significant adverse impacts on its operating performance and cash flow due to the COVID-19 pandemic, with uncertainty regarding its future spread and duration[142]. - The company is subject to extensive regulations and must obtain licenses from multiple jurisdictions, with the risk of losing or failing to renew these licenses posing a significant threat to its operations[147]. - The company faces significant risks related to its debt obligations, including increased difficulty in meeting repayment responsibilities and potential limitations on operational flexibility due to restrictive covenants[151][152]. - The competitive landscape is intensifying, with new developments in Macau and other regions, increasing pressure on the company's market position[155][156]. Financial Position - As of December 31, 2021, the company had cash and cash equivalents totaling 678 million, with an available borrowing capacity of 1.54billion[97].Thecompanyissued1.54 billion[97]. - The company issued 1.95 billion of unsecured unregistered notes in September 2021, with proceeds used to fully redeem 1.8billionof4.6001.8 billion of 4.600% senior notes due in 2023[126]. - The company has outstanding borrowings totaling 7.9 billion under priority notes and the 2018 SCL revolving credit facility, with an available borrowing limit of $1.75 billion[151]. - The company anticipates seeking additional waivers post-January 1, 2023, to comply with financial covenants, which may be affected by factors beyond its control, including ongoing travel and border restrictions due to COVID-19[127]. - The company has not declared a final dividend for the year ended December 31, 2021[136].