Financial Performance - For the six months ended September 30, 2024, the group recorded a revenue increase of 1%, primarily driven by a 1% rise in slot machine business revenue[7]. - The group’s profit attributable to owners for the six months ended September 30, 2024, was approximately HKD 16 million, compared to HKD 15 million for the same period in 2023[7]. - Adjusted EBITDA for the six months ended September 30, 2024, was approximately HKD 43 million, a decrease of about HKD 9 million compared to HKD 52 million for the same period in 2023[9]. - The net profit attributable to the company's owners for the six months was HKD 15,693,000, compared to HKD 17,054,000 in the prior year, showing a decrease of 8.0%[18]. - Basic earnings per share decreased to HKD 1.95 from HKD 2.15, reflecting a decline of 9.3%[18]. - The total comprehensive income for the period was HKD 24,777,000, a significant increase from a loss of HKD 2,362,000 in the same period last year[18]. - Adjusted net profit for the first half of fiscal year 2025 is approximately HKD 15,140, down from HKD 31,506 in the first half of fiscal year 2024, representing a decrease of about 52%[134]. - Adjusted EBITDA for the first half of fiscal year 2025 is approximately HKD 30,387, compared to HKD 52,203 in the first half of fiscal year 2024, indicating a decline of around 42%[135]. Revenue and Business Segments - Total revenue from gaming, hotel, dining, leasing, and related services reached HKD 282,093,000, up from HKD 278,287,000, indicating an increase of 1.0% year-over-year[16]. - The group reported gaming revenue of HKD 196,118,000 for the six months ended September 30, 2024, compared to HKD 194,279,000 for the same period in 2023, reflecting a growth of 0.9%[16]. - The hotel, restaurant, and leasing business contributed HKD 85,975,000 in revenue, compared to HKD 84,008,000 in the previous year, marking a growth of 2.2%[40]. - Revenue from external customers in the Czech Republic was HKD 219,861,000, up from HKD 217,992,000, reflecting an increase of 0.9%[38]. - Revenue from external customers in Germany increased to HKD 39,619,000 from HKD 38,758,000, a growth of 2.2%[38]. - Revenue from external customers in Austria rose to HKD 22,613,000 from HKD 21,537,000, representing a growth of 5.0%[38]. Assets and Equity - Total equity increased from approximately HKD 503 million as of March 31, 2024, to approximately HKD 550 million as of September 30, 2024[10]. - Non-current assets increased to HKD 441,923,000 as of September 30, 2024, compared to HKD 411,329,000 as of March 31, 2024, marking a growth of 7.4%[20]. - The group's total assets less current liabilities amounted to HKD 672,190,000, up from HKD 626,651,000, indicating an increase of 7.3%[24]. - Total assets rose from approximately HKD 739 million on March 31, 2024, to approximately HKD 763 million on September 30, 2024[106]. Expenses and Taxation - The group incurred gaming tax expenses of HKD 71,727,000, which is an increase from HKD 67,351,000 in the previous year, representing a rise of 5.3%[16]. - The total gaming tax for the first half of FY2025 was approximately HKD 72 million, an increase of 7% from HKD 67 million in FY2024, reflecting a tax rate increase from 23% to 30% for table games[80]. - The group incurred a total tax expense of HKD 6,173 million, down from HKD 9,844 million in the previous year, reflecting a decrease of approximately 37%[50]. Operational Developments - The group completed the acquisition of the Mikulov property in the Czech Republic in February 2024, which is being prepared for conversion into a casino[5]. - The group is actively seeking similar opportunities for physical entertainment venues in other jurisdictions in Europe and Asia to expand its business[6]. - The group is considering potential acquisitions and partnerships to further penetrate the Polish gaming market following the acquisition of Palasino Poland in July 2023[5]. - The group plans to open its fourth entertainment venue in the Czech Republic in the first half of fiscal year 2026 and seeks new opportunities through acquisitions or bidding for new gaming licenses[131]. Employee and Operational Costs - The company employed 672 employees as of September 30, 2024, a decrease from 690 employees on March 31, 2024, with employee costs for the first half of the fiscal year 2025 amounting to approximately HKD 95 million[122]. - Employee benefits expenses slightly decreased by about HKD 1 million or 1% to approximately HKD 95 million in the first half of fiscal year 2025[99]. - Other operating expenses increased by approximately HKD 13 million or 29% to HKD 60 million, primarily due to increased online gaming expenses and rising utility costs[100]. Market Position and Future Outlook - The group aims to provide a diverse and attractive range of slot machine products to enhance player experience and reduce wait times for available equipment[85]. - The group anticipates a challenging macroeconomic environment for the fiscal years 2025/2026, with inflation and interest rates showing a positive trend[130]. - The company plans to maintain and strengthen its market position in the Czech Republic through acquisitions or new business ventures[127]. Governance and Compliance - The company has adopted the principles and code provisions of the Corporate Governance Code as a standard for its corporate governance practices[140]. - The Audit Committee, composed of four independent non-executive directors, has reviewed the accounting principles and practices adopted by the company[141].
百乐皇宫(02536) - 2024 - 中期业绩