Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately HKD 3,364,018,000, representing an increase of about 6.1% compared to HKD 3,172,048,000 in 2023[5] - The gross profit for the same period was approximately HKD 1,798,871,000, reflecting a growth of about 5.8% from HKD 1,700,693,000 in 2023, with a gross margin of approximately 53.5%[5] - The company's EBITDA for the fiscal year was approximately HKD 708,796,000, an increase of about 2.1% from HKD 694,471,000 in 2023[5] - Adjusted EBITDA for the fiscal year was approximately HKD 741,481,000, which is an increase of about 6.9% compared to HKD 693,899,000 in 2023[6] - The net profit for the fiscal year was approximately HKD 406,943,000, showing a growth of about 1.2% from HKD 402,177,000 in 2023[5] - The total revenue for the year ended December 31, 2024, was HKD 3,364,018,000, representing a 6.05% increase from HKD 3,172,048,000 in 2023[14] - Gross profit for the same period was HKD 1,798,871,000, up from HKD 1,700,693,000, indicating a growth of 5.78%[14] - The net profit for the year was HKD 406,943,000, slightly increasing from HKD 402,177,000, which is a 1.91% rise[14] - Basic and diluted earnings per share for the company were both HKD 0.432, compared to HKD 0.424 in the previous year, reflecting a 1.89% increase[14] Market Performance - Revenue from the European market increased by 16.1%, while the North American market (excluding MicroDental) saw an increase of approximately 8.7%[12] - Revenue from the European market for the year ended December 31, 2024, was approximately HKD 1,618,436,000, an increase of about HKD 219,065,000 from the previous year, representing 48.1% of total revenue[72] - North American market revenue for the year ended December 31, 2024, was approximately HKD 752,083,000, a decrease of about HKD 1,532,000 from the previous year, accounting for 22.3% of total revenue[73] - Revenue from the Greater China market for the year ended December 31, 2024, was approximately HKD 662,210,000, a decrease of about HKD 51,382,000 from the previous year, representing 19.7% of total revenue[76] - The Australian market recorded revenue of approximately HKD 264,752,000 for the year ended December 31, 2024, an increase of about HKD 10,411,000 from the previous year, accounting for 7.9% of total revenue[77] Acquisitions and Investments - The company acquired Thailand's largest dental laboratory, Hexa Ceram Company Limited, in January 2025, which is expected to enhance its product offerings and market coverage[3] - The company plans to acquire 74% equity in Hexa Ceram Company Limited for a cash consideration of approximately THB 938,959,000 (about HKD 214,102,000), expected to complete in January 2025[55] - The company plans to acquire 25% of Hexa Ceram Company Limited for a total consideration of THB 326,216,000 (approximately HKD 74,384,000)[108] - The company also intends to purchase 49% of Hexa Ceram Company Limited for THB 612,743,000 (approximately HKD 139,718,000)[109] Production and Operations - The company produced approximately 769,564 digital solutions cases in mainland China and Vietnam, a significant increase of 36.0% from approximately 565,891 cases in 2023, driven by greater adoption of intraoral scanners[7] - The company maintained onshore production capabilities in the U.S. and production facilities in Southeast Asia, which mitigated tariff-related risks and leveraged opportunities[4] - The company has established a new production facility in Vietnam to mitigate risks associated with its existing production bases in Shenzhen and Dongguan[118] Financial Position - Non-current assets totaled HKD 2,326,274,000, a decrease from HKD 2,381,523,000 in 2023, representing a decline of 2.32%[16] - Current assets increased to HKD 1,748,581,000 from HKD 1,571,324,000, marking an increase of 11.27%[16] - The company's total liabilities were HKD 1,349,281,000, compared to HKD 1,309,746,000 in 2023, indicating a rise of 2.99%[17] - The net asset value increased to HKD 2,725,574,000 from HKD 2,643,101,000, reflecting a growth of 3.11%[17] - The debt ratio improved to approximately 14% in 2024 from 16% in 2023, indicating a stable financial position[103] Dividends - The board proposed a final dividend of HKD 0.092 per share for the fiscal year, up from HKD 0.090 per share in 2023, pending shareholder approval[6] - The interim dividend for 2024 is proposed at HKD 0.08 per share, up from HKD 0.06 per share in 2023, totaling HKD 75,752,000[41] - The proposed final dividend for 2024 is HKD 0.092 per share, compared to HKD 0.09 per share in 2023, amounting to HKD 86,855,000[42] Employee and Operational Costs - The total employee cost for the fiscal year ending December 31, 2024, was approximately HKD 1,532,248,000, an increase from HKD 1,439,045,000 in 2023[123] - The company employed a total of 7,106 full-time employees as of December 31, 2024, compared to 7,035 in 2023[123] Risks and Challenges - The company faces various business risks, including global economic fluctuations and geopolitical risks, which may significantly impact its financial condition and operating performance[115] - The company has not established any interest rate agreements or derivative transactions to hedge against interest rate fluctuations[119] Corporate Governance - The company has complied with the corporate governance code as per the listing rules for the year ending December 31, 2024[133] - The audit committee reviewed the group's financial performance and accounting principles for the year ending December 31, 2024[135] - The annual results announcement will be published on the Hong Kong Stock Exchange and the company's website[137]
现代牙科(03600) - 2024 - 年度业绩