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香格里拉(亚洲)(00069) - 2019 - 中期财报

Financial Performance - For the six months ended June 30, 2019, the consolidated revenue was $1,195 million, an increase of 1.7% compared to $1,175.5 million for the same period in 2018[7]. - The profit attributable to the company's owners, excluding non-operating items, decreased by $16.2 million (20.1%) to $64.2 million from $80.4 million in the previous year[7]. - The total profit attributable to the company's owners, including non-operating items, was $115.1 million, down 24.7% from $152.9 million in the same period last year[7]. - The earnings per share for the period was 3.221 cents, reflecting a decrease of 24.7% compared to 4.276 cents in the previous year[7]. - The actual profit before interest, tax, depreciation, amortization, and non-operating items attributable to the company, subsidiaries, and associates was $449.2 million, down 0.7% from $452.3 million in the previous year[9]. - The company reported a net profit of $124,923, a decrease of 18.2% from $152,619 in the same period last year[16]. - The company reported a significant increase in capital injections and loans to joint ventures, totaling $(8,576) compared to $(18,292) in the previous year, reflecting strategic investments[19]. - The company reported a total of $288.9 million in profits for the six months ended June 30, 2019, down from $317.7 million in 2018[125]. Assets and Liabilities - The net asset value attributable to the company's owners as of June 30, 2019, was $6,212.8 million, a decrease of 1.2% from $6,289 million at the end of 2018[8]. - The net debt attributable to the company, subsidiaries, and associates increased by 7.4% to $4,276.2 million from $3,983.2 million at the end of 2018[8]. - Total assets as of June 30, 2019, amounted to $13,764,952, an increase from $13,170,648 as of December 31, 2018[14]. - Total liabilities increased to $7,239,009 from $6,493,760 at the end of 2018[14]. - The company’s equity totalled $6,525,943, a decrease from $6,676,888 at the end of 2018[14]. - The company’s total liabilities related to non-controlling interests increased to $57,455,000 as of June 30, 2019, compared to $35,050,000 as of December 31, 2018[70]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2019, was $42,591, a decrease of 64% compared to $118,204 for the same period in 2018[19]. - Net cash used in investing activities was $(213,276), significantly higher than $(91,381) in the previous year, indicating increased investment outflows[19]. - Cash flow from financing activities generated $27,240, down from $92,987 in the prior year, reflecting reduced financing activities[19]. - The company recognized a net cash inflow from the issuance of bonds amounting to $221,653, indicating a strategy to strengthen its capital structure[19]. - The company reported a capital expenditure of $164,907,000 for property, plant, and equipment during the first half of 2019[43]. Revenue Breakdown - Total revenue for the six months ended June 30, 2019, was $1,194,994,000, compared to $1,175,543,000 for the same period in 2018, representing an increase of approximately 1.5%[32]. - Room revenue decreased to $533,968,000 in 2019 from $560,733,000 in 2018, a decline of about 4.7%[32]. - Food and beverage sales also saw a decrease, falling to $432,816,000 in 2019 from $458,438,000 in 2018, a decline of approximately 5.6%[32]. - The company reported a significant increase in revenue from properties for sale, which rose to $70,466,000 in 2019 from $4,639,000 in 2018, marking a substantial increase of over 1410%[32]. - Total hotel property revenue decreased by 5.1% to $1,025.6 million for the six months ended June 30, 2019, with an adjusted decline of 1.6% after currency effects[106]. Dividends and Shareholder Returns - The board declared an interim dividend of HK$0.08 per share, consistent with the previous year[6]. - The company declared an interim dividend of 8 HK cents per share for the six months ended June 30, 2019, totaling $36,877,000, slightly down from $36,903,000 in 2018[84]. - The company paid dividends amounting to $(67,286), an increase from $(55,053) in the previous year, indicating a commitment to shareholder returns despite cash flow challenges[19]. Accounting Standards and Policies - The company adopted the new accounting standard HKFRS 16 "Leases" effective January 1, 2019, which impacted the financial results for the period[6]. - The adoption of new accounting standards, specifically HKFRS 16, has impacted the recognition and measurement of leases, which may affect future financial reporting[23]. - The company recognized a change in accounting policy under HKFRS 16, resulting in a decrease of $89,575,000 in retained earnings[18]. Market Presence and Operations - The company operates in multiple regions, including China, Singapore, Malaysia, and the Philippines, indicating a broad market presence[33]. - The group owned or managed a total of 102 hotels with 42,000 rooms, including 86 operating hotels and 16 under development[101]. - The company is focusing on stabilizing performance in key markets while navigating external economic pressures[110]. Corporate Governance - The company has complied with corporate governance guidelines and standards during the relevant six-month period[150]. - The company has a comprehensive board manual that aligns with the Hong Kong Stock Exchange's listing rules[150]. - The company maintains a high level of transparency in corporate governance to benefit shareholders[150].