香格里拉(亚洲)(00069) - 2024 - 中期财报

Financial Performance - For the six months ended June 30, 2024, the consolidated revenue was $1,049.1 million, an increase of 4.3% or $43.1 million compared to $1,006.0 million for the same period in 2023[6]. - The profit attributable to the company's owners before non-operating items was $59.1 million, a decrease of 8.5% or $5.5 million from $64.6 million in the same period last year[4]. - After accounting for non-operating items, the profit attributable to the company's owners was $94.5 million, down 28.1% or $36.9 million from $131.4 million in the previous year[4]. - The earnings per share for the period was $2.661, representing a decline of 27.8% from $3.688 in the previous year[4]. - The group's earnings before interest, tax, depreciation, and amortization (EBITDA) before non-operating items was $252.3 million, down 5.2% or $13.7 million from $266.0 million in the same period last year[6]. - The actual attributable EBITDA from the company, subsidiaries, and associates was $381.5 million, a decrease of 3.8% or $15.0 million from $396.5 million in the previous year[6]. - The net profit for the period was $107,890,000, a decrease of 24.2% compared to $142,464,000 in the prior year[12]. - The total comprehensive income for the period was $14,743,000, a significant improvement from a loss of $118,654,000 in the previous year[13]. - The total profit attributable to the group for the six months ended June 30, 2024, was $381.5 million, a decrease of 3.8% compared to $396.5 million for the same period in 2023[110]. Revenue Breakdown - Room revenue increased to $508,553,000, up 4.4% from $486,282,000 in the previous year[23]. - The hotel operations segment generated revenue of $1,055.0 million in 2024, compared to $1,009.0 million in 2023, reflecting a growth of approximately 4.6%[28]. - Revenue from investment properties increased by 13.9% to $59.7 million, primarily due to improved performance in Mongolia and Sri Lanka[89]. - The hotel management and related services segment saw revenue growth of 11.8%, reaching $119.3 million compared to $106.7 million in 2023[88]. - The company reported a total customer contract revenue of $989,384,000, compared to $953,486,000 in the same period last year, reflecting a growth of 3.8%[23]. Assets and Liabilities - The company's net asset value attributable to owners was $5,162.5 million as of June 30, 2024, a decrease of 1.1% from $5,222.4 million at the end of 2023[5]. - Total assets as of June 30, 2024, amounted to $13,694,545,000, an increase from $12,862,586,000 at the end of 2023[11]. - Total liabilities increased to $8,284,871,000 from $7,394,543,000, indicating a rise of 12.1%[11]. - The company reported cash and cash equivalents of $1,846,184,000, a decrease from $870,797,000 at the end of 2023[10]. - The company’s total equity decreased slightly to $5,409,674,000 from $5,468,043,000, a decline of 1.1%[11]. Cash Flow and Financing - Net cash generated from operating activities was $(1,703,000) for the first half of 2024, a decline from $42,283,000 in the same period of 2023[23]. - Investment activities generated a net cash inflow of $75,741,000, compared to a net cash outflow of $(88,937,000) in the prior year[23]. - Financing activities resulted in a net cash inflow of $913,254,000, a substantial increase from $6,123,000 in the previous year[23]. - The company reported a net financing cost of $133,165,000 for the six months ended June 30, 2024, compared to $81,709,000 for the same period in 2023, representing an increase of about 63.1%[62]. - The company’s interest expense on bank loans rose to $140,691,000 for the six months ended June 30, 2024, compared to $122,360,000 for the same period in 2023, an increase of approximately 15.0%[62]. Shareholder Information - The board declared an interim dividend of HKD 0.05 per share for 2024, compared to no dividend in 2023[3]. - The company paid dividends of $68,701,000 for the year-end 2023, reflecting a commitment to returning value to shareholders[15]. - The company has a total of 25,956,600 share awards outstanding as of June 30, 2024, with 522,900 shares granted during the six-month period[145]. - Major shareholders include Kerry Group Limited, which is a wholly-owned subsidiary of Kerry Holdings, holding a combined 93.096% of the company's shares[138]. Market and Operational Insights - The average occupancy rate for the group's hotels was 61%, up 1 percentage point from 60% for the six months ended June 30, 2023[94]. - In Hong Kong, total revenue increased by 7.9% to $150.6 million, with an occupancy rate of 75%, up 10 percentage points from 65%[96]. - The group continues to face competitive pressures in various markets, particularly in Singapore and France, while benefiting from recovery in Malaysia and the Philippines[98][100]. - The company continues to expand its hotel management services across various regions, including China, Singapore, and Malaysia[24]. Future Plans and Strategies - The company plans to continue expanding its investment properties, particularly in regions like Mongolia and Sri Lanka, to enhance revenue streams[89]. - The company is reviewing development plans for hotels in Rome, Yangon, and Bangkok, with equity interests of 100%, 55.86%, and 73.61% respectively[128]. - The company anticipates the completion of the Hangzhou Shangri-La upgrade in early 2025, setting new standards for its other hotels[131]. - The company acknowledges potential macro challenges, including inflation risks affecting consumer confidence, but remains focused on sustainable growth strategies[131].