国泰航空(00293) - 2023 - 年度业绩

Financial Performance - The total revenue for Cathay Pacific in 2023 was HKD 94,485 million, an increase of 85.1% compared to HKD 51,036 million in 2022[3]. - The net profit attributable to shareholders was HKD 9,789 million, a significant turnaround from a loss of HKD 6,623 million in 2022, representing an increase of HKD 16,412 million[3]. - The basic earnings per share rose to HKD 1.408, compared to a loss of HKD 1.124 in 2022, marking an increase of 253.2%[3]. - The operating margin improved to 10.4%, a rise of 23.4 percentage points from a loss of 13.0% in 2022[3]. - The group reported a net profit of HKD 9,790 million for the year, a substantial improvement from a net loss of HKD 6,623 million in the previous year[58]. - The operating profit for Cathay Pacific in 2023 was HKD 15,125 million, compared to a loss of HKD 6,622 million in 2022, indicating a strong recovery[58]. - The company reported a profit of HKD 9,790 million for the year ended December 31, 2023, compared to a loss of HKD 6,622 million in 2022[46]. - Total comprehensive income for the year was HKD 7,937 million, a significant improvement from a loss of HKD 8,440 million in the previous year[47]. Revenue Breakdown - Cathay Pacific's passenger revenue reached HKD 55.95 billion, an increase of 308.8% compared to 2022[15]. - Passenger service revenue reached HKD 61,437 million, up 328.6% from HKD 14,333 million in 2022[33]. - Cargo service revenue decreased by 16.2% to HKD 25,606 million from HKD 30,554 million in 2022[33]. - Cargo revenue for Cathay Pacific in 2023 was HKD 22.16 billion, a decrease of 17.9% from 2022[15]. Operational Metrics - The available tonne-kilometers increased by 110.1% to 21,225 million from 10,100 million in 2022[4]. - The total available seat-kilometers surged by 326.8% to 85,607 million from 20,056 million in 2022[4]. - The passenger load factor improved to 85.7%, up by 12.1 percentage points from 73.6% in 2022[4]. - The overall cargo tonnage increased by 19.7% to 1.381 million tons in 2023[15]. - The number of passengers carried in 2023 was 18 million, averaging 49,300 passengers per day, a 541.4% increase from 2022[15]. Debt and Financial Health - The net debt ratio decreased to 0.88 times from 0.92 times in 2022, reflecting a reduction in net borrowings by 10.3% to HKD 52,764 million[2]. - Total borrowings decreased by 11.4% to HKD 68,294 million, with net borrowings down 10.3% to HKD 52,764 million[40]. - The debt-to-equity ratio improved from 0.71 to 0.69, indicating a stronger balance sheet position[40]. - The company's equity attributable to shareholders decreased by 5.9% to HKD 60,260 million, impacted by a profit of HKD 9,789 million and various other factors[40]. Workforce and Employment - The workforce increased by 15% or 3,000 employees in 2023, with nearly 2,000 former employees rehired[12]. - The company plans to increase its workforce by approximately 5,000 employees in 2024, a 20% increase from 2023[17]. - The company employed over 23,800 staff globally as of December 31, 2023, with approximately 19,600 based in Hong Kong[42]. Strategic Initiatives - The group plans to distribute a dividend of HKD 0.43 per ordinary share, the first since 2019, to be paid on May 2, 2024[7]. - Cathay Pacific has initiated a share buyback program, repurchasing 50% of the preferred shares for HKD 9.75 billion in December 2023[8]. - The company plans to expand its sustainable aviation fuel supply chain in mainland China in partnership with State Power Investment Corporation[42]. - The company aims to enhance customer experience by reopening most airport lounges and launching a lounge in Shekou, Shenzhen[13]. Environmental Impact - The greenhouse gas emissions rose to 10.6 million tonnes CO2 equivalent, an increase of 116.3% from 4.9 million tonnes in 2022[4]. Future Outlook - Passenger flights are expected to return to 80% of pre-pandemic levels by Q2 2024, with ticket prices normalizing throughout the remainder of 2024[9]. - Cathay Pacific aims to restore passenger flight operations to 80% of pre-pandemic levels by Q2 2024 and 100% by Q1 2025[17]. - The company plans to introduce new cabin products over the next three years, including a new business class and first-class experience[17]. Corporate Governance - The company has adhered to all corporate governance codes as per the listing rules throughout the year[92]. - All directors confirmed compliance with the securities trading code and the standard code for directors[92]. - The financial results for the year ending December 31, 2023, have been reviewed by the audit committee[92].