Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was HKD 525,583,000, a decrease of 5.8% from HKD 558,038,000 in 2023[3] - Gross profit for the same period was HKD 112,937,000, slightly down from HKD 113,615,000, reflecting a gross margin of approximately 21.5%[3] - The net profit for the year was HKD 34,246,000, representing an increase of 2.7% compared to HKD 33,333,000 in the previous year[4] - The total comprehensive income for the year was HKD 9,239,000, significantly lower than HKD 32,766,000 in 2023, primarily due to a foreign exchange loss of HKD 25,007,000[4] - Basic earnings per share increased to HKD 6.87 from HKD 6.68, marking a growth of 2.8%[4] - The profit before tax for the group was HKD 49,560,000 in 2024, up from HKD 47,127,000 in 2023, indicating an increase of approximately 5.2%[19] - The total operating expenses for the group were HKD 452,833,000 in 2024, compared to HKD 485,422,000 in 2023, reflecting a reduction of about 6.7%[20] - Total other income and gains for 2024 amounted to HKD 9,294,000, an increase from HKD 7,526,000 in 2023, with notable contributions from bank interest income of HKD 3,581,000 (2024) compared to HKD 1,185,000 (2023)[27] - The total tax expense for the group in 2024 was HKD 15,314,000, compared to HKD 13,794,000 in 2023, reflecting an increase in tax obligations[29] Assets and Liabilities - Total assets decreased to HKD 273,109,000 from HKD 288,116,000, a decline of 5.2% year-over-year[5] - Current liabilities were reduced to HKD 71,898,000 from HKD 95,786,000, a decrease of 25.0%[5] - The total equity as of December 31, 2024, was HKD 276,845,000, down from HKD 287,553,000, a decrease of 3.0%[5] - The total trade and other payables decreased to HKD 28,138,000 as of December 31, 2024, down from HKD 42,708,000 in 2023, indicating a reduction of about 34.2%[43] - Lease liabilities decreased to HKD 10,649,000 as of December 31, 2024, down from HKD 18,559,000 in 2023, reflecting a decline of approximately 42.7%[44] - The goodwill as of December 31, 2023, is HKD 12,303,000, which decreased to HKD 11,270,000 by December 31, 2024, indicating a reduction of about 8.4%[38] Cash Flow and Financial Position - The company's cash and cash equivalents increased to HKD 111,343,000 from HKD 85,514,000, reflecting a growth of 30.3%[5] - The current ratio improved to approximately 3.8 times in 2024 from 3.0 times in 2023[58] - The group maintained a healthy capital debt ratio of approximately 3.8% in 2024, down from 6.5% in 2023[58] - The group regularly monitors its liquidity needs and maintains sufficient cash reserves to meet both short-term and long-term funding requirements[59] Operational Highlights - The company plans to continue focusing on market expansion and new product development to drive future growth[8] - The management team plans to continue focusing on cost control and operational collaboration in response to market challenges[49] - The group has maintained a strong capital base to ensure investor, creditor, and market confidence, balancing higher returns with higher debt levels[61] - The group employed 319 full-time employees as of December 31, 2024, down from 329 in 2023, with competitive compensation and performance-based rewards[67] Segment Performance - The total external revenue for the Printing Solutions and Services segment was HKD 525,583,000 in 2024, a decrease from HKD 558,038,000 in 2023, representing a decline of approximately 5.8%[20] - The EBITDA for the Printing Solutions and Services segment was HKD 88,465,000 in 2024, compared to HKD 88,242,000 in 2023, showing a slight increase of 0.3%[20] - The group has identified a single reporting segment, which is the Printing Solutions and Services, focusing on digital and offset printing along with related business services[17] Dividend and Shareholder Returns - The group declared a final dividend of HKD 0.04 per share for the fiscal year 2024, totaling HKD 19,947,000, compared to no dividends in 2023[31] - The board has proposed an interim dividend of HKD 0.04 per share for the year ending December 31, 2024, consistent with the previous year's final dividend[68] Compliance and Standards - The company plans to adopt all relevant new or revised International Financial Reporting Standards (IFRS) after their effective date, with no significant financial impact expected from the initial application of these standards[13] - The company is currently evaluating the impact of newly issued or revised IFRS on its financial statements, with preliminary conclusions suggesting minimal financial impact except for IFRS 18[13] Customer and Market Insights - Major customers contributing over 10% to the group's revenue included Customer A with HKD 91,895,000 (2024) and HKD 98,143,000 (2023), Customer B with HKD 80,095,000 (2024) and HKD 80,533,000 (2023), and Customer C with HKD 62,040,000 (2024) and HKD 58,670,000 (2023)[23] - The group’s revenue and non-current assets are primarily located in Australia, indicating a concentrated market presence[18] Other Financial Metrics - Direct operating costs were reduced by 7% to HKD 412,600,000 in 2024[48] - Administrative expenses decreased by about 4.3% to HKD 37,900,000 in 2024 from HKD 39,600,000 in 2023[54] - Financial expenses decreased by approximately 46.6% to HKD 700,000 in 2024 from HKD 1,400,000 in 2023[55] - The group received a government subsidy of HKD 359,000 in 2023 for solar panel installation as part of energy efficiency improvement projects[24]
澳狮环球(01540) - 2024 - 年度业绩