大酒店(00045) - 2021 - 年度财报

Financial Performance - Total revenue increased by 32% to HKD 3,885 million in 2021 from HKD 2,947 million in 2020[26] - Operating loss improved by 83% to HKD 105 million in 2021 compared to HKD 614 million in 2020[26] - Shareholder loss decreased by 94% to HKD 120 million in 2021 from HKD 1,940 million in 2020[26] - Cash interest coverage ratio improved to 1.6x in 2021 from -1.2x in 2020[26] - Total assets increased by 4% to HKD 55,685 million in 2021 from HKD 53,679 million in 2020[26] - Net external debt rose by 21% to HKD 12,900 million in 2021 from HKD 10,662 million in 2020[26] - The weighted average interest rate decreased to 1.5% in 2021 from 1.9% in 2020[26] - Basic loss per share improved by 94% to HKD 0.07 in 2021 from HKD 1.18 in 2020[26] - The company recorded EBITDA of HKD 394 million for the year, compared to an EBITDA loss of HKD 61 million in 2020[30] - Total revenue increased by 28% to HKD 3,461 million, while total comprehensive income rose by 32% to HKD 3,885 million[31] - The company reported a total community contribution of HKD 4,549,000, reflecting a decrease of 17.7%[28] - The company’s cash and bank balance at the end of the year was HKD 466 million, down from HKD 520 million at the beginning of the year[35] - The company did not declare any dividends for 2021, following a dividend of HKD 212 million in 2020[46] - The company anticipates a capital requirement of HKD 3 billion over the next two years for ongoing projects[78] Operational Challenges - The company faced operational challenges due to COVID-19, leading to temporary business suspensions and delays in sustainability initiatives[29] - The company has implemented cost control measures and local business initiatives to adapt to the changing regulatory environment[61] - The ongoing geopolitical instability and labor shortages in the hospitality industry remain challenges for the company[93] Project Developments - New project capital expenditures increased to HKD 2,254 million in 2021 from HKD 1,771 million in 2020[26] - The company is currently developing new Peninsula hotels in London and Istanbul as part of its strategic expansion plan[67] - The London Peninsula Hotel project has faced delays, with the completion date pushed from 2022 to the first half of 2023, and the original budget of £800 million is expected to increase[73] - The Istanbul Peninsula Hotel project involves a total investment of approximately €300 million, with the company holding a 50% stake[75] - The Peak Tram upgrade project is budgeted at HK$799 million and is expected to be completed by mid-2022[70] - The company has paused the Yangon Peninsula Hotel project since June 2021 due to the situation in Myanmar, with plans to reassess the timing for resuming construction[77] Employee and Community Engagement - The employee turnover rate was 24.3%, representing an increase of 7.2 percentage points[28] - Approximately 94% of the global workforce has completed vaccination, with 98% of employees in Hong Kong vaccinated by the end of 2021[86] - The group provided essential support to employees during challenging times, including medical insurance and food donations[143] - The group plans to open two new hotels in the next 12 months, adding over 1,000 new team members[87] - The "2030 Vision" sustainable development strategy was launched in 2021, focusing on enhancing guest experience, employee development, and community enrichment[90] Market Performance - The hotel division's total revenue increased by 47% to HKD 2,687 million, with the highest growth in the US and European segments[31] - The commercial property division's revenue decreased by 10% to HKD 698 million, primarily due to poor performance in the Repulse Bay project and Peak Tram services[32] - The Peninsula Hong Kong reported revenue of HKD 728 million, a year-on-year increase of 21%[101] - The Peninsula Shanghai achieved revenue of RMB 405 million, reflecting a 37% increase compared to the previous year[109] - The Peninsula Chicago saw a significant revenue increase of 170%, reaching USD 437 million[101] - The Peninsula Paris reported a remarkable 209% revenue growth, totaling EUR 348 million[101] - The Peninsula Tokyo's revenue was JPY 4.64 billion, a 10% increase, despite challenges from local restrictions[117] Financial Stability - The group maintained a strong financial position and has been closely managing operational costs during the pandemic[95] - The net debt to total assets ratio stood at 23% as of December 31, 2021, indicating a stable financial position[169] - The group secured a total of HKD 16 billion in bank credit facilities and an additional HKD 20 billion in committed credit to ensure sufficient liquidity for operations and capital expenditures[169] - The adjusted net asset value increased by 1% to HKD 40,871 million as of December 31, 2021[172] Sustainability Initiatives - The company aims to continue focusing on sustainable development goals as part of its "Prestige Heritage 2030 Vision" initiative[29] - The group is exploring sustainable financing opportunities and increasing plant-based menu options in its hotels[90] - The company is committed to risk management, addressing new organizational risks due to the ongoing pandemic and global labor shortages[84]