Financial Performance - The company reported a loss attributable to shareholders of HKD 792 million for the six months ended June 30, 2021, compared to a loss of HKD 7,737 million in the same period last year, representing a 90% decrease[5]. - Basic earnings per share for 'A' shares was HKD 0.84, recovering from a loss of HKD 3.65 in the previous year, while 'B' shares reported HKD 0.17, compared to a loss of HKD 0.73[5]. - Revenue increased by 20% to HKD 46,738 million from HKD 39,056 million year-on-year[5]. - Operating profit reached HKD 4,751 million, a significant recovery from a loss of HKD 1,670 million in the previous year[5]. - The company generated cash from operations of HKD 10,657 million, up 106% from HKD 5,176 million in the prior year[5]. - The group reported a recurring basic profit of HKD 786 million for the first half of 2021, compared to a loss of HKD 123 million in the same period of 2020[6]. - The group’s total revenue for the six months ended June 30, 2021, was HKD 46,738 million, an increase from HKD 39,056 million for the same period in 2020, representing a growth of approximately 19.3%[130]. - The total profit for the group was HKD 17,884 million, compared to HKD 14,962 million for the same period in 2020, reflecting a growth of approximately 19.4%[117]. Debt and Equity - The net debt decreased by 21% to HKD 39,081 million from HKD 49,277 million, improving the capital net debt ratio to 12.2%[5]. - The net debt-to-equity ratio as of June 30, 2021, was 12.2%, with available liquid funds amounting to HKD 54.6 billion[6]. - The company’s total borrowings and bonds decreased to HKD 63,114 million as of June 30, 2021, from HKD 68,164 million at the beginning of the year[101]. - The company’s total liabilities decreased to HKD 110,000 million from HKD 115,000 million, reflecting improved financial stability[119]. - The net debt-to-equity ratio was 12.2% as of June 30, 2021, down from 15.6% in 2020[109]. - The total amount of borrowings and lease liabilities due within one year was HKD 17.956 billion, representing 27% of total liabilities[105]. Dividends - The company declared an interim dividend of HKD 1.00 per 'A' share, a 43% increase from HKD 0.70 in the previous year[5]. - The interim dividend was increased by 43% to HKD 1.00 per 'A' share and HKD 0.20 per 'B' share, compared to the first interim dividend in 2020[6]. - The company aims to maintain a dividend policy of distributing at least half of recurring basic profit, excluding contributions from its associate company, Cathay Pacific[6]. - The company paid dividends amounting to HKD (2,386) million during the period, compared to HKD (3,360) million in the previous year[100]. Real Estate and Property - The property division generated a recurring basic profit of HKD 3.29 billion in the first half of 2021, compared to HKD 3.67 billion in the same period of 2020[10]. - The real estate sector was the largest source of profit for the group, contributing HKD 6.53 billion from recurring basic profit excluding gains from the sale of investment properties[10]. - The property investment portfolio in Hong Kong totals 12 million square feet, with an additional 1.2 million square feet under construction[13]. - The total revenue for the real estate segment reached HKD 9,068 million, a significant increase from HKD 6,551 million in the previous year, representing a growth of 38.5%[16]. - The valuation loss on investment properties was HKD 2,513 million, a decrease from HKD 2,601 million, indicating improved asset performance[18]. Aviation Sector - Cathay Pacific's losses decreased from HKD 99 billion to HKD 76 billion, aided by strong cargo performance and cost-saving measures[9]. - The aviation sector recorded a loss of HKD 3.25 billion in the first half of 2021, while the loss for the same period in 2020 was HKD 9.25 billion, showing a reduction in losses[10]. - Cathay Pacific expects to adjust passenger capacity to 30% of pre-pandemic levels by Q4 2021, depending on operational and passenger restrictions[12]. - The aviation segment generated revenue of HKD 9,047 million, reflecting a decrease of 3% compared to the previous period[123]. - Cathay Pacific's passenger revenue for the first half of 2021 was HKD 745 million, a decrease of 92.8% compared to the same period in 2020[47]. Beverage Segment - The beverage segment, Swire Coca-Cola, saw profits increase by 55% and 97% compared to the first half of 2020 and 2019, respectively[8]. - The beverage segment reported revenues of HKD 26,832 million for the six months ended June 30, 2021, compared to HKD 21,251 million for the same period in 2020, representing a growth of approximately 26.5%[65]. - In mainland China, the attributable profit for the first half of 2021 was HKD 1.02 billion, a 75% increase year-on-year, with revenue in local currency up by 25%[71]. - Total revenue from Hong Kong increased by 28% to HKD 27.55 billion, with sales volume rising by 16% to 974 million cases[71]. - The EBITDA margin for the beverage segment improved to 12.0% in the first half of 2021, compared to 11.3% in the same period of 2020[70]. Investment and Future Plans - The company aims to maintain long-term growth through sustainable development and innovation, focusing on the Greater China region[4]. - The company plans to continue investing in the healthcare sector and has identified multiple investment opportunities in mainland China[6]. - The group plans to invest at least HKD 20 billion in the healthcare sector by 2030, establishing it as a significant business[11]. - The company has ongoing development projects in Hong Kong, Indonesia, and Vietnam, with land reserves in Miami, USA, indicating a strategic focus on market expansion[15]. - The company is exploring potential mergers and acquisitions to enhance its market position[123].
太古股份公司B(00087) - 2021 - 中期财报