澳博控股(00880) - 2023 - 中期财报

Financial Performance - The group's total net revenue for the six months ended June 30, 2023, was HKD 9,362 million, a 126.7% increase from HKD 4,129 million in the same period of 2022[39]. - The net gaming revenue reached HKD 8,695 million, up 128.2% from HKD 3,811 million year-on-year[39]. - Adjusted EBITDA for the period was HKD 461 million, a significant improvement from a loss of HKD 1,176 million in the previous year, representing a 139.2% increase[39]. - The loss attributable to the company's owners was HKD 1,264 million, reduced by 54.1% from a loss of HKD 2,757 million in the same period last year[39]. - The adjusted EBITDA margin improved to 4.9%, up 33.4 percentage points from a negative 28.5% in the prior year[41]. - Total revenue for the first half of 2023 reached HKD 1,430 million, a significant increase of 242.9% compared to HKD 417 million in 2022[44]. - The gaming revenue from the main casino operations surged to HKD 1,034 million, reflecting a remarkable growth of 347.6% from HKD 231 million in the previous year[44]. - The company reported a pre-tax loss of HKD 1,196.9 million for the first half of 2023, an improvement from a loss of HKD 2,759.8 million in the same period last year[61]. - Basic and diluted loss per share for the period was HKD 17.8 cents, compared to HKD 45.4 cents in the previous year, indicating a reduction in loss per share[61]. - The company's total comprehensive income for the period was a loss of HKD 1,301.8 million, significantly worse than the loss of HKD 2,815.2 million reported for the same period in 2022[67]. Revenue Breakdown - The gross gaming revenue from the group's flagship properties included HKD 10,340 million from gaming and HKD 3,960 million from non-gaming sources at the Grand Lisboa[40]. - Non-gaming revenue, including hotel and dining, reached HKD 228 million, up 52.0% from HKD 150 million in the prior year[44]. - The total revenue for the New Lisboa Casino was HKD 2,403 million, a 209.7% increase from HKD 776 million in 2022[46]. - The adjusted property EBITDA for New Lisboa Casino was HKD 473 million, a significant turnaround from HKD (374) million in the previous year, reflecting improved profitability[46]. - The non-gaming revenue from the satellite casinos reached HKD 3,801 million, a 54.5% increase from HKD 2,460 million in 2022[48]. - The hotel, dining, retail, and leasing segment generated revenue of HKD 290.0 million and HKD 303.3 million from dining and leasing operations respectively, compared to HKD 165.3 million and HKD 72.6 million in 2022, indicating significant growth[81]. Operational Metrics - The average daily room rate for the group's hotels increased by 47.8% to HKD 1,360, while occupancy rates rose to 83.9%, a 49.6% increase compared to the previous year[40]. - The hotel occupancy rate increased to 83.9%, up by 49.6 percentage points from 34.3% in 2022, showcasing a strong recovery in the hospitality sector[44]. - The group accounted for 11.8% of Macau's gaming revenue, with 14.9% from mass table gaming and 3.5% from VIP gaming[40]. - In the first half of 2023, the number of inbound tourists to Macau increased by 236.1% year-on-year, with June seeing a remarkable growth of 480.5%[49]. Financial Position - The group held cash, bank balances, and short-term deposits totaling HKD 4,959 million as of June 30, 2023, with total debt amounting to HKD 28,535 million[40]. - As of June 30, 2023, the group had cash and bank balances of HKD 3.951 billion, a decrease of 42.4% from HKD 6.856 billion on December 31, 2022[52]. - The total outstanding bank loans as of June 30, 2023, amounted to HKD 15.698 billion, down from HKD 18.975 billion as of December 31, 2022[52]. - The group's debt-to-asset ratio was 50.2% at the end of the reporting period, down from 53.2% on December 31, 2022[53]. - The company's total equity decreased to HKD 14,778.8 million as of June 30, 2023, from HKD 16,013.4 million at the end of 2022[65]. - The company has reported a net current asset deficiency of HKD 903.0 million as of June 30, 2023, compared to a surplus of HKD 3,341.0 million at the end of 2022[63]. Debt and Financing - The group completed refinancing of its syndicated loan facilities, which included HKD 9,000 million in term loans and HKD 10,000 million in revolving credit, with HKD 3,300 million remaining undrawn as of June 30, 2023[40]. - The group recorded a significant reduction in bank loan repayments, totaling HKD 3,330.0 million for the current period, down from HKD 13,939.8 million in the previous year[68]. - The actual annual interest rate for secured bank loans ranges from 5.21% to 6.92% as of June 30, 2023, compared to 2.53% to 6.66% at the end of 2022[118]. - The group has issued unsecured notes totaling USD 500 million with a fixed annual coupon of 4.50%, maturing in 2026, and another USD 500 million at 4.85%, maturing in 2028[122]. Employee and Operational Developments - The group had approximately 18,400 full-time employees as of June 30, 2023, with a low employee turnover rate in the first half of the year[56]. - The company expects to complete the recruitment and training of new staff by the end of the year to meet the demand for its 1,892 hotel rooms at The Lisboa[51]. - Total employee benefits costs amounted to HKD 2,709.6 million, down from HKD 2,867.1 million, reflecting a decrease of 5.5%[90]. Future Commitments and Investments - The company is committed to investing a total of MOP 14.033 billion (approximately HKD 13.624 billion) under the new gaming concession from January 1, 2023, to December 31, 2032[50]. - The group has committed to invest a total of MOP 14.033 billion (approximately HKD 13.624 billion) over the term of the new gaming license, with MOP 12 billion (approximately HKD 11.651 billion) allocated for non-gaming capital investments[74]. Shareholder Information - The total number of shares held by major shareholders and directors reflects a diverse ownership structure, with no single entity holding a majority[162]. - The company reported a total of 7,101,805,366 shares issued as of June 30, 2023, with various directors holding significant stakes[153]. - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[185].