ANALOGUE HLDGS(HK:01977)2025-03-28 08:30Financial Performance - The company's revenue for the fiscal year ending December 31, 2024, was HKD 6,450.1 million, representing an increase of 5.2% from HKD 6,132.9 million in 2023[3]. - Gross profit for the same period was HKD 1,002.3 million, up 20.3% from HKD 833.3 million in 2023[3]. - Profit attributable to owners of the company decreased to HKD 135.3 million, down 46.3% from HKD 251.5 million in 2023[3]. - Basic earnings per share for 2024 was HKD 0.10, compared to HKD 0.18 in 2023, reflecting a decline of 44.4%[3]. - Total comprehensive income for the year was HKD 110.2 million, down 54.9% from HKD 244.3 million in 2023[5]. - The company's total assets as of December 31, 2024, were HKD 3,699.4 million, slightly down from HKD 3,721.4 million in 2023[7]. - The company's equity attributable to owners increased to HKD 2,193.7 million from HKD 2,126.4 million in 2023, reflecting a growth of 3.2%[8]. - The group reported a total segment profit of HKD 221,830,000 for the year ended December 31, 2024[27]. - The net profit for the year ended December 31, 2024, was HKD 133,888,000, compared to the previous year's profit[27]. - The company reported a net profit of HKD 251,406,000 for the year, compared to HKD 262,619,000 in the previous year, reflecting a decrease of 4.2%[33]. Revenue Breakdown - Revenue from contracting works was HKD 5,080,980,000 in 2024, up from HKD 4,926,890,000 in 2023, representing a growth of 3.1%[22]. - Maintenance works revenue increased to HKD 1,230,123,000 in 2024 from HKD 1,069,811,000 in 2023, reflecting a growth of 15.0%[22]. - Revenue from Hong Kong increased to HKD 5,492,957,000, up 7.2% from HKD 5,123,788,000 in 2023[33]. - Revenue from mainland China decreased to HKD 214,936,000, down 43% from HKD 376,476,000 in 2023[33]. - Revenue from maintenance engineering for fiscal year 2024 was HKD 1.2301 billion, accounting for 19.0% of total revenue, reflecting a 1.5% increase from fiscal year 2023[83]. Dividends - The company declared a second interim dividend of HKD 0.02 per share, totaling approximately HKD 28 million, bringing the total dividend for the year to HKD 0.0438 per share[3]. - The company declared an interim dividend of HKD 0.02 per share for the year 2024, totaling approximately HKD 27,977,000, compared to HKD 0.01 per share totaling HKD 13,863,000 for the year 2023[40]. - The company plans to pay a second interim dividend of HKD 0.02 per share for the year ending December 31, 2024, expected to be distributed around April 29, 2025[112]. Assets and Liabilities - Current liabilities decreased to HKD 2,632.6 million from HKD 2,730.1 million in 2023, indicating improved liquidity[7]. - The total current assets for 2024 were HKD 3,699.4 million, slightly down from HKD 3,721.4 million in 2023[101]. - The total current liabilities decreased to HKD 2,632.6 million in 2024 from HKD 2,730.1 million in 2023[101]. - The total value of pledged assets increased to HKD 968,108,000 in 2024 from HKD 853,999,000 in 2023, with significant increases in investment properties[55]. - The total amount of mortgaged assets as of December 31, 2024, was HKD 968.1 million, compared to HKD 854.0 million as of December 31, 2023[98]. Financial Standards and Compliance - The company has applied the revised Hong Kong Financial Reporting Standards (HKFRS) for the first time this year, which became mandatory on January 1, 2024, without significant impact on the financial position and performance[10]. - The company has not early adopted any new or revised HKFRS that have been issued but are not yet effective, including HKFRS 9 and HKFRS 7 revisions[15]. - The application of the revised HKFRS 9 is expected to clarify the recognition and derecognition of financial assets and liabilities, with no significant impact anticipated on the group's financial condition[18]. - The revised standards aim to improve the clarity and consistency of financial reporting, ensuring better alignment with international standards[14]. - The company has adopted the principles and code provisions of the Corporate Governance Code as its corporate governance standard, ensuring compliance as of December 31, 2024[115]. Operational Developments - The company is actively developing new technologies, including AI, IoT, and energy optimization digital solutions, to position itself as a leader in emerging industries[63]. - The newly established headquarters features a design and R&D center aimed at advancing new construction technologies, including MiMEP and BIM, enhancing productivity and sustainability[62]. - The company is actively expanding its services globally, targeting projects in the Philippines and Dubai[68]. - The company has established a dedicated business unit to expand its environmental engineering and other services into new markets, including the Philippines, Dubai, and Europe[110]. - The company is expanding its elevator and escalator business in the UK and the US, with its US subsidiary turning a profit and expanding its market coverage beyond New York[109]. Employee and Training - The company employed 3,149 staff as of December 31, 2024, an increase from 3,010 staff in 2023[102]. - The company provided a total of 569 internal training sessions in 2024, totaling over 38,500 hours of training[103]. Market Position and Future Outlook - The company has achieved significant growth in order volume and bidding activities, indicating a solid foundation for future business development[108]. - The company plans to prudently seek suitable new business and investment opportunities, aiming to fully utilize the net proceeds from the global offering by December 31, 2025[93]. - The company expects that the application of the new standards will not have a significant impact on its financial statements in the foreseeable future[16].