Financial Performance - Revenue decreased by 15.6% to HK$3,013.2 million for the six months ended June 30, 2024, down from HK$3,568.6 million for the same period in 2023[17]. - Gross profit declined by 10.3% to HK$1,409.2 million, compared to HK$1,570.9 million in the previous year[11]. - Operating profit fell by 22.0% to HK$537.5 million, down from HK$689.6 million in 2023[11]. - Profit for the period decreased by 30.3% to HK$459.8 million, compared to HK$659.6 million in the prior year[11]. - Basic earnings per share dropped by 29.5% to HK$0.425 from HK$0.603 in 2023[12]. - Total comprehensive income for the period, net of tax, was HK$381,061, compared to HK$582,511 in the same period last year[120]. - EBITDA for the six months ended June 30, 2024, was HK$583,585, compared to HK$720,786 for the same period in 2023, showing a decline of around 19.0%[156]. - Profit attributable to the owners of the Company for the six months ended 30 June 2024 was HK$454,583,000, a decrease of 30% from HK$650,643,000 in the same period of 2023[181]. Revenue Breakdown - Revenue from the Latin America and Commonwealth of Independent States region fell by 22.0% to HK$1,069.8 million from HK$1,371.1 million[17]. - Revenue for the six months ended 30 June 2024 was HK$3,013.2 million, a decrease of 15.6% from HK$3,568.6 million for the same period in 2023[19]. - Sales of E-payment Terminals products decreased by 17.3% to HK$2,849.2 million from HK$3,444.4 million in the previous year, primarily due to a drop in purchase orders in certain markets[20]. - Revenue from the provision of services increased by 32.1% to HK$164.0 million from HK$124.1 million, driven by growing demand for maintenance, installation services, and SaaS solutions[20]. - Revenue from external customers in the PRC (excluding Hong Kong, Macau, and Taiwan) for the six months ended June 30, 2024, was HK$2,180,355, a decrease from HK$2,883,283 in the same period of 2023, representing a decline of about 24.4%[156]. Expenses and Costs - Selling expenses decreased by 2.1% to HK$347.0 million from HK$354.4 million, mainly due to a reduction in employee benefit expenses of sales staff[22]. - Administrative expenses slightly decreased by 0.7% to HK$576.8 million from HK$581.0 million, attributed to lower employee benefit expenses of administrative and R&D staff[22]. - Employee benefit expenses for the first half of 2024 totaled HK$392,024,000, down from HK$483,834,000 in the previous year[174]. - Costs of inventories sold for the six months ended June 30, 2024, were HK$1,529,980,000, a decrease from HK$1,917,959,000 in the same period of 2023[171]. Assets and Liabilities - Total current assets increased by 3.1% to HK$7,788.1 million as of June 30, 2024, from HK$7,553.2 million at the end of 2023[11]. - Total assets increased to HK$9,291,220,000 as of June 30, 2024, up from HK$9,075,329,000 as of December 31, 2023, representing a growth of 2.4%[122]. - Total liabilities amounted to HK$1,666,454,000, an increase from HK$1,589,155,000, reflecting a rise of 4.9%[123]. - Current liabilities rose to HK$1,571,437,000, an increase of 5.5% from HK$1,488,815,000[123]. Cash Flow and Investments - Net cash generated from operating activities for the six months ended June 30, 2024, was HK$430.7 million, significantly up from HK$111.7 million for the same period in 2023[48]. - The company incurred net cash used in investing activities of HK$223,541,000 for the six months ended June 30, 2024, compared to HK$108,202,000 in 2023, indicating an increase in investment expenditures[132]. - The company reported a net decrease in cash and cash equivalents of HK$45,867,000 for the six months ended June 30, 2024, compared to a decrease of HK$253,067,000 in 2023, indicating improved cash flow management[132]. Dividends - The company declared an interim dividend of HK$0.24 per ordinary share, an increase of 14.3% from HK$0.21 in 2023[12]. - The total amount of interim dividend declared for the six months ended 30 June 2024 is approximately HK$254,809,000, up from HK$225,464,000 in the same period of 2023[187]. Share Options and Equity - The Share Option Scheme allows for the issuance of up to 82,514,550 shares, which is 7.5% of the total number of shares in issue as of May 2, 2019[74]. - No share options were granted, cancelled, or lapsed during the six months ended June 30, 2024, with 4,550 share options available for grant as of January 1 and June 30, 2024[81]. - The total number of issued shares as of June 30, 2024, is 1,071,454,000 ordinary shares[89]. Market and Product Developments - The Group's largest revenue contribution during the first half of 2024 came from the EMEA region, with significant sales from Italy, the United Kingdom, and Hungary despite fluctuating demand in Germany and Spain[32]. - PAX launched new products including the A8900 and A99 SmartPOS terminals, all certified with PCI PTS 6.x, enhancing its Android smart payment portfolio[28]. - The Elys Series L1400 dual-screen terminal received positive market feedback in North America, indicating a successful introduction of value-added services in the retail and hospitality segments[42]. Risk Management - The Group's overall risk management program focuses on minimizing potential adverse effects on financial performance due to market unpredictability[141]. - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[141]. - The Group closely monitors foreign currency rates to manage foreign exchange risk effectively[61].
百富环球(00327) - 2024 - 中期财报