Financial Performance - Revenue for the year ended December 31, 2024, was HKD 30,258,009,000, a decrease of 6% from HKD 32,090,207,000 in 2023[3] - EBITDA for the year was HKD 10,074,731,000, down 21% from HKD 12,827,961,000 in the previous year[3] - Profit attributable to equity holders was HKD 3,377,200,000, a decline of 24% compared to HKD 4,429,160,000 in 2023[3] - Gross profit for the year was HKD 11,535,959,000, down from HKD 13,811,291,000 in 2023[4] - Total comprehensive income for the year was HKD 1,488,406,000, compared to HKD 2,581,444,000 in the previous year[6] - The company reported a basic and diluted earnings per share of HKD 0.5498, down from HKD 0.7210 in the previous year[4] - The company reported a pre-tax profit of HKD 3,377,200,000 for the year, down 23.7% from HKD 4,429,160,000 in 2023[41] - The consolidated gross profit for 2024 was HKD 11,535,959,000, down 16% from the previous year, with a gross profit margin of approximately 38.1%, a decrease of 4.9 percentage points[129] - The net profit attributable to equity holders for 2024 was HKD 3,377,200,000, a decline of 24% compared to 2023[129] Dividends - The final dividend per share increased to HKD 0.09 from HKD 0.08 in the previous year, with total annual dividends per share at HKD 0.23, up from HKD 0.22[3] - Proposed final dividend per ordinary share increased to HKD 0.09 from HKD 0.08 in 2023[40] - The board proposed a final dividend of HKD 0.09 per share for the year ending December 31, 2024, compared to HKD 0.08 per share for the previous year[157] Assets and Liabilities - Non-current assets totaled HKD 138,252,572,000, a decrease from HKD 142,029,678,000 in 2023[7] - Current liabilities decreased to HKD 35,731,838,000 from HKD 41,184,880,000 in the previous year[8] - The net asset value increased to HKD 66,416,576,000 from HKD 65,523,221,000 in 2023[8] - The company’s total liabilities decreased to HKD 119,610,448 from HKD 123,659,603, a reduction of approximately 3.3%[25] - The total outstanding loans as of December 31, 2024, were HKD 91,669,439,000, down HKD 2,954,705,000 from HKD 94,624,144,000 at the end of 2023[133] Revenue Breakdown - The segment revenue from Environmental Energy projects was HKD 16,004,953, down from HKD 17,472,414, representing a decline of 8.4%[21] - The Environmental Water segment reported revenue of HKD 6,851,918, consistent with the previous year's HKD 6,704,684, indicating a slight increase of 2.2%[21] - The Green Environmental segment's revenue decreased to HKD 6,976,892 from HKD 7,416,973, reflecting a decline of 5.9%[21] - Revenue from external customers in Mainland China was HKD 29,371,234, down from HKD 31,388,415, a decline of approximately 6.4%[28] - Revenue from environmental energy project construction services was HKD 2,537,007,000, down 41.5% from HKD 4,332,798,000 in 2023[31] - Revenue from environmental water project construction services increased by 17.2% to HKD 2,933,926,000 from HKD 2,502,809,000 in 2023[31] - Operating service revenue from environmental energy projects was HKD 9,720,110,000, up 5.2% from HKD 9,241,305,000 in 2023[31] Segment Performance - Adjusted EBITDA for the Environmental Energy segment was HKD 6,886,316, down from HKD 9,078,517 in the previous year, representing a decrease of approximately 24.5%[23] - The total reported segment profit from external customers decreased to HKD 9,803,001 from HKD 12,930,295, a decline of about 24.5%[23] - The operating profit before interest, tax, depreciation, and amortization for the environmental water services segment was HKD 2,196,829,000, a decrease of 11% compared to 2023[105] Investments and Projects - The company invested HKD 802,724 in property, plant, and equipment during the year, compared to HKD 1,149,071 in the previous year, a decrease of about 30.2%[23] - The group has expanded its business to 26 provinces and regions in China, covering 229 cities and counties, with overseas markets in Germany, Poland, Vietnam, and Mauritius, and has invested in 604 environmental projects totaling approximately RMB 162.425 billion[68] - The group has implemented 193 waste-to-energy projects with a designed daily processing capacity of 159,900 tons of municipal solid waste[68] - In 2024, the group invested in 12 new projects with a total investment of approximately RMB 1.764 billion and signed various light asset business contracts totaling approximately RMB 1.835 billion[71] Environmental Impact and Achievements - The group processed 56,162,000 tons of municipal waste, generating 27,678,000,000 kWh of green electricity, equivalent to the annual electricity consumption of approximately 23,065,000 households[78] - The group treated 1,763,000,000 cubic meters of wastewater, reducing COD emissions by 7,478,000 tons[78] - The group received multiple awards, including ranking first in the "Top 50 Environmental Enterprises in China" and "Top 10 Influential Solid Waste Enterprises in China" for the 14th consecutive year[80][82] Corporate Governance and Management - The company has adopted the Corporate Governance Code as its standard for corporate governance practices[153] - The company has established a comprehensive safety and environmental management system, ensuring compliance with national environmental regulations[150] - The company conducted multiple training sessions covering ESG, procurement management, cybersecurity, and other topics to enhance management and employee skills[144] - The company identified key risks including accounts receivable risk, environmental compliance risk, and market competition risk, which will be detailed in the 2024 annual report[146] Future Outlook - The group aims to enhance its core competitiveness and solidify its industry-leading position while focusing on the "14th Five-Year Plan" strategic blueprint[127] - The company plans to enhance its operational management and financial coordination to improve efficiency and reduce costs[60] - The company is focusing on technological innovation and the establishment of a "research ecosystem" to drive business development[60]
光大环境(00257) - 2024 - 年度业绩