Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 1,632,532,000, representing a 19.5% increase from HKD 1,366,020,000 in 2023[3] - Gross profit for the same period was HKD 373,205,000, up 9.8% from HKD 339,768,000 in the previous year[3] - The profit attributable to the owners of the company decreased by 1.3% to HKD 70,744,000 from HKD 71,657,000 in 2023[5] - Basic and diluted earnings per share were HKD 14.08, slightly down from HKD 14.26 in 2023[5] - The company reported a total comprehensive income of HKD 51,189,000 for the year, down from HKD 59,848,000 in 2023[4] - The company achieved a pre-tax profit of HKD 92,094 for 2024, slightly up from HKD 91,420 in 2023, reflecting a growth of 0.7%[22] - Revenue from travel-related business was HKD 1,430,068 in 2024, up from HKD 1,176,082 in 2023, marking a growth of 21.5%[26] - The company reported a significant increase in revenue from hotel room rentals and related services, rising to HKD 124,894 in 2024 from HKD 93,805 in 2023, an increase of 33.2%[26] - Reported segment revenue for 2024 was HKD 1,632,532, an increase of 19.5% from HKD 1,366,020 in 2023[22] Financial Ratios and Stability - The company's gross margin decreased to 22.9% from 24.9% in the previous year, while the operating profit margin fell to 6.4% from 8.4%[3] - The net debt to equity ratio significantly decreased to 243.1% from 684.0% in 2023, indicating improved financial stability[3] - The leverage ratio based on total borrowings to total assets improved from 57.8% in 2023 to 47.2% in 2024, a decrease of 10.6 percentage points[68] - The interest coverage ratio improved to 8.3 times in 2024 from 4.9 times in 2023, reflecting reduced financing costs[64] - The return on total assets increased to 9.3% in 2024 from 8.3% in 2023, while the return on equity decreased to 72.2% from 151.1%[70] Assets and Liabilities - Total assets less current liabilities amounted to HKD 410,898,000, down from HKD 524,999,000 in 2023[6] - Total assets decreased to HKD 762,726 in 2024 from HKD 858,241 in 2023, a decline of 11.1%[22] - Total liabilities also decreased to HKD 666,392 in 2024 from HKD 813,096 in 2023, a reduction of 18.1%[22] - The company's bank borrowings totaled HKD 269,470,000 as of December 31, 2024, down from HKD 313,009,000 in 2023[42] Segment Performance - The company has three reportable segments: travel and travel-related services, merchandise sales, and hotel operations, each requiring different business strategies[18] - The reported segment profit was HKD 127,494 thousand, with travel-related services generating HKD 86,205 thousand and hotel operations contributing HKD 41,289 thousand[20] - Total segment assets amounted to HKD 759,831 thousand, while total segment liabilities were HKD 567,257 thousand[20] - The travel group segment generated revenue of approximately HKD 1,430,068,000, up 21.6% from HKD 1,176,082,000 in 2023, contributing 87.6% to total revenue[50] Expenses and Costs - Total sales expenses increased by 30.4% to approximately HKD 91,300,000 due to hiring more frontline staff[59] - Administrative expenses rose by 10.3% to approximately HKD 175,900,000, driven by increased employee costs[60] - The company incurred financing costs of HKD 4,876 thousand and income tax expenses of HKD 20,810 thousand during the reporting period[20] Dividends and Shareholder Returns - The company declared a special dividend of HKD 0.06 per share for 2025, compared to HKD 0.07 per share for 2023, representing a decrease of approximately 14.3%[33] - The company did not recommend any final dividend for the year ending December 31, 2024, consistent with the previous year[34] Future Plans and Strategies - The company plans to continue expanding its market presence and developing new travel-related products and services[8] - The group anticipates continued growth in outbound travel demand to Japan leading up to the Osaka-Kansai Expo in 2025, which is expected to attract millions of visitors[83] - The group plans to organize three chartered cruises in 2024 and an additional nine in 2025 to enhance its travel offerings[84] - The company plans to fund future capital expenditures using internal resources[77] Employee and Operational Changes - As of December 31, 2024, the total number of employees increased to 447 from 419 in 2023, with 144 full-time leaders and guides[82] - The company has integrated its resources to refocus on core segments, leading to a reduction in the scale of the merchandise sales segment[25] Compliance and Reporting - The company plans to adopt revised Hong Kong Financial Reporting Standards effective January 1, 2024, which are not expected to have a significant impact on the financial performance or position[12] - The company has not early adopted any revised financial reporting standards that are not yet effective for the current accounting period[12] - The annual report will be sent to shareholders in late April 2025 and will be available on the company's website[95]
东瀛游(06882) - 2024 - 年度业绩