Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 9,497.8 million, representing a 148.3% increase compared to HKD 3,825.6 million in 2023[3] - EBITDA for the same period was HKD 1,472.1 million, up 9.6% from HKD 1,342.9 million in 2023[3] - Adjusted EBITDA increased by 1.4% to HKD 2,084.4 million from HKD 2,056.1 million year-on-year[3] - Profit attributable to ordinary shareholders was HKD 572.6 million, a 3.8% increase from HKD 551.8 million in 2023[5] - Total comprehensive income for the year was HKD 568.1 million, compared to HKD 547.2 million in 2023[8] - Total revenue for the year ending December 31, 2024, reached HKD 9,599,558,000, with sales to external customers amounting to HKD 9,497,808,000[17] - The company reported a pre-tax profit of HKD 696,760,000, with a notable increase in interest income to HKD 61,226,000 from HKD 73,917,000 in the previous year[23][25] - The company reported a basic earnings per share of HKD 0.073[31] - Net profit attributable to shareholders for 2024 was approximately HKD 572.6 million, a year-on-year increase of about 3.8%[38] Financial Position - The group maintained a strong financial position with cash and deposits of approximately HKD 2,031.4 million, up from HKD 1,483.8 million in 2023[5] - Non-current assets totaled HKD 9,209.5 million, slightly down from HKD 9,288.0 million in 2023[9] - Total equity increased to HKD 8,213.1 million from HKD 7,841.4 million in 2023[10] - The total assets of the group amounted to HKD 12,673,143,000, with classified assets contributing HKD 5,624,381,000[17] - The group’s total liabilities were HKD 4,460,070,000, with classified liabilities at HKD 1,888,655,000[17] - The company’s total assets as of December 31, 2024, were HKD 12.67 billion, with net assets of approximately HKD 8.08 billion[38] - The company’s debt-to-asset ratio decreased to approximately 35.2%[38] - The total debt as of December 31, 2024, was approximately HKD 2,011.5 million, an increase of about HKD 180.8 million from the previous year[55] Operational Highlights - The group operates in four segments: aluminum, coal, commodities trading, and crude oil, with significant revenue contributions from each[16] - The average selling price of crude oil decreased slightly year-on-year, while the average selling price of coal saw a significant decline[6] - The company recorded a profit increase of approximately HKD 114.4 million due to the transfer of its stake in Alumina Limited for Alcoa Corporation equity[6] - Oil and gas business achieved an operating output of approximately 17.65 million barrels, a year-on-year increase of about 3.2%[40] - Non-oil business revenue was approximately HKD 2.15 billion, a year-on-year decrease of about 8.5%[45] - The Portland aluminum plant's production capacity recovery in 2024 showed significant results, with equity aluminum sales of approximately 63,000 tons, a year-on-year decrease of about 6.0%[47] - The average selling price for aluminum in 2024 was approximately $2,763.5 per ton, reflecting a year-on-year increase of about 17.1%[47] - In the coal business, the average selling price for coal was approximately $168.6 per ton, a year-on-year decrease of about 22.1%[48] - Coal sales volume for the year was 599,000 tons, a year-on-year decrease of about 8.8%, resulting in a net profit attributable to shareholders of approximately HKD 30 million, down about 88.6%[48] Cash Flow and Investments - Cash and cash equivalents amounted to HKD 942.8 million, up from HKD 759.2 million in 2023[35] - Capital expenditures for the year totaled HKD 378,446,000, including HKD 336,787,000 for property, plant, and equipment[17] - The company achieved a capital expenditure of HKD 369,772,000, which includes investments in property, plant, and equipment[18] - The company’s investment in joint ventures and associates amounted to HKD 2,690,406,000[17] Dividends and Shareholder Returns - Proposed final dividend per share is HKD 0.026, an increase from HKD 0.025 in 2023, totaling HKD 204.3 million for 2024[32] - The group plans to distribute a final dividend of HKD 0.026 per ordinary share for the year ending December 31, 2024, pending shareholder approval[67] Risk Management and Future Outlook - The company plans to focus on structural adjustments and transformation in 2025, emphasizing the "investment + trade" dual-drive strategy[52] - The company aims to enhance production and sales volume while introducing new technologies and processes to drive growth[52] - The group has implemented internal policies to manage various financial risks, including market, credit, and liquidity risks[64] - There have been no significant events or transactions affecting the group that require disclosure to shareholders from January 1, 2025, to the date of this announcement[77]
中信资源(01205) - 2024 - 年度业绩