嘉里物流(00636) - 2024 - 年度业绩

Financial Performance - Revenue increased by 23% to HKD 58.27 billion for the year ended December 31, 2024, compared to HKD 47.41 billion in 2023[4] - Core operating profit rose by 23% to HKD 2.73 billion, up from HKD 2.22 billion in the previous year[4] - Core net profit grew by 12% to HKD 1.36 billion, compared to HKD 1.21 billion in 2023[4] - Shareholders' profit attributable increased by 95% to HKD 1.54 billion, up from HKD 791 million in 2023[4] - Total comprehensive income for the year amounted to HKD 1.15 billion, compared to HKD 747 million in 2023[6] - The company reported a net profit attributable to shareholders of HKD 1,320,290, compared to HKD 1,209,818 in the previous year, reflecting an increase of approximately 9.1%[16] Segment Performance - International freight business recorded a segment profit of HKD 1.95 billion, a 39% increase from HKD 1.40 billion in the previous year[4] - The logistics segment generated revenue of HKD 14,448,877 in 2024, slightly down from HKD 15,006,751 in 2023, reflecting a decrease of approximately 3.7%[16] - The international freight forwarding segment reported revenue of HKD 43,825,527, up from HKD 32,400,808 in 2023, marking a substantial increase of around 35.5%[16] - The mainland China segment achieved revenue of HKD 18,509,517, an increase from HKD 16,262,366 in 2023, representing a growth of approximately 13.8%[16] - The Americas region generated revenue of HKD 15,129,822, significantly up from HKD 9,733,852 in 2023, indicating an increase of about 55.5%[16] Dividends and Shareholder Returns - Proposed final dividend of HKD 0.15 per share to be paid on June 10, 2025[4] - A special interim dividend was declared on December 29, 2023, amounting to approximately HKD 983,215,000, based on the fair value of KEX Express Thailand shares[31] - The proposed final dividend for the year ending December 31, 2024, is HKD 271,114,000, which is an increase from HKD 234,966,000 in 2023[32] Assets and Liabilities - Non-current assets totaled HKD 20.42 billion, slightly down from HKD 20.70 billion in 2023[7] - Current assets increased to HKD 22.29 billion from HKD 19.35 billion in the previous year[7] - Total liabilities rose to HKD 15.52 billion, compared to HKD 13.18 billion in 2023[7] - Total equity decreased from HKD 20,107,259 thousand in 2023 to HKD 19,079,131 thousand in 2024, indicating a decline of about 5.1%[8] - The total bank loans and overdrafts amounted to HKD 8,989,214,000 in 2024, up from HKD 8,560,666,000 in 2023[43] Operational Changes and Strategic Focus - The company completed the distribution of all shares held in KEX Express Thailand as a special interim dividend, terminating certain express delivery operations[9] - The company reported that the performance of discontinued operations is presented separately in the consolidated financial statements for the year ended December 31, 2024[9] - The company has secured a five-year HKD 1 billion sustainable development-linked loan to promote sustainability initiatives[56] - The company is expanding its industrial project logistics division, contributing nearly HKD 1.7 billion in revenue, with expectations for future growth[54] - The group plans to leverage its market presence in Southeast Asia, particularly in Thailand, Vietnam, and Indonesia, to capture growth opportunities[58] Compliance and Governance - The company has established an Audit and Compliance Committee, which includes two independent non-executive directors and one non-executive director, with the chairperson possessing appropriate professional qualifications[69] - The Audit and Compliance Committee has reviewed the annual performance and believes it complies with relevant accounting standards and regulations[69] - The board has proposed to change the company's English name from "Kerry Logistics Network Limited" to "KLN Logistics Group Limited," pending shareholder approval[70] Future Outlook - The group anticipates that the abnormal supply chain conditions will persist into 2025, influenced by ongoing protectionism and geopolitical tensions in the Middle East[58] - The group expects infrastructure investment to rebound with the stabilization of the global economy, providing greater development space for its industrial project logistics business[59] - Future guidance suggests a revenue growth target of 18% for the next quarter[81] Employee and Operational Efficiency - The group has reduced its workforce to approximately 18,700 employees as of December 31, 2024, down from about 33,100 employees a year earlier due to the completion of the KEX Express Thailand distribution[64] - The group has maintained a low administrative expense ratio relative to revenue, significantly outperforming international peers[60] - The total administrative expenses allocated were HKD 476,548, slightly down from HKD 481,467 in 2023, showing a decrease of about 1.9%[16]