Business Operations - Swire Properties operates over 2,200 retail outlets in its shopping malls, employing approximately 72,000 people in its office buildings in Hong Kong[7]. - Swire Coca-Cola distributes products to 782 million people across Greater China, the United States, and Cambodia, including 21 carbonated beverage brands[6]. - Cathay Pacific, along with its subsidiaries, operated a fleet of 222 aircraft by the end of 2022, providing services to 81 destinations across 30 countries and regions[7]. - Swire Group employs over 29,000 staff in Hong Kong and more than 35,000 in mainland China, with a global workforce of nearly 80,000[7]. - The company has established a solid business presence in key cities in mainland China, including Beijing, Guangzhou, Chengdu, Shanghai, Xi'an, and Sanya[7]. Financial Performance - The profit attributable to shareholders rose by 25% to HKD 4,195 million in 2022, compared to HKD 3,357 million in 2021[8]. - The basic earnings per share for 'A' shares increased by 25% to HKD 2.81 in 2022, up from HKD 2.24 in 2021[8]. - The total revenue decreased by 1% to HKD 91,693 million in 2022, down from HKD 92,830 million in 2021[8]. - The net cash generated from operations fell by 22% to HKD 12,043 million in 2022, compared to HKD 15,453 million in 2021[8]. - The net debt increased by 47% to HKD 56,759 million in 2022, up from HKD 38,655 million in 2021[8]. - The company's equity return increased to 1.6% in 2022 from 1.3% in 2021, representing a rise of 0.3 percentage points[8]. Investment and Development - The company aims to invest in the healthcare sector, particularly in private healthcare services in major urban areas in mainland China and Southeast Asia[7]. - The company is a long-term investor, focusing on maintaining controlling interests in its businesses to achieve sustainable returns[4]. - The company has made significant progress in its investment plan of HKD 100 billion announced in March 2022, with HKD 39 billion already allocated to new large property projects[19]. - Swire Properties has entered into a joint venture to develop the Xi'an Taikoo Li project, marking its seventh development project in mainland China[17]. - The company plans to invest HKD 100 billion over the next decade in property development projects in Hong Kong and mainland China, with HKD 30 billion allocated for Hong Kong projects[45]. Sustainability and Corporate Governance - Swire Group emphasizes sustainable development and long-term growth, focusing on core sectors in Greater China and Southeast Asia[4]. - The company maintains a strong commitment to corporate governance and sustainable practices, believing that these contribute to long-term growth[4]. - The company's sustainable development performance showed an 11% reduction in greenhouse gas emissions to 649 thousand tons of CO2 equivalent in 2022, down from 728 thousand tons in 2021[8]. - The group aims to achieve net-zero carbon emissions by 2050, with interim targets to reduce greenhouse gas emissions by 50% by 2030 compared to 2018 levels[21]. Market Challenges and Opportunities - The beverage segment faced challenges due to pandemic measures and rising costs, with Swire Coca-Cola reporting a profit of HKD 23.92 billion in 2022, down 6% from HKD 25.49 billion in 2021[19]. - The retail market in mainland China faced challenges due to pandemic-related measures, impacting sales and rental income[40]. - The group is actively seeking opportunities in mainland China and Southeast Asia for further growth in 2023[22]. - The company is optimistic about opportunities in the Greater Bay Area and continues to strengthen its position as an international financial and aviation hub[17]. Dividends and Share Repurchases - The company announced a second interim dividend of HKD 1.85 per 'A' share and HKD 0.37 per 'B' share, resulting in a total annual dividend of HKD 3.00 per 'A' share and HKD 0.60 per 'B' share, which is a 15% increase from 2021[19]. - The company repurchased 39,383,000 'A' shares and 44,425,000 'B' shares during 2022, with a total cash consideration of HKD 2.6 billion[18]. Sector-Specific Performance - The healthcare segment recorded a loss of HKD 170 million in 2022, compared to a loss of HKD 85 million in 2021, including a goodwill impairment of HKD 163 million related to Colombia China[191]. - The hotel segment reported a loss of HKD 259 million, compared to a loss of HKD 174 million in 2021[34]. - The automotive segment reported revenue of HKD 5.636 billion, a slight decrease from HKD 5.689 billion in 2021[192]. - The food segment recorded a loss of HKD 487 million in 2022, compared to a loss of HKD 45 million in 2021[192]. Future Outlook - The group expects significant positive impacts on its business in 2023 as COVID-19 restrictions are lifted in Hong Kong and mainland China, leading to a strong recovery in airline operations[22]. - The company anticipates a recovery in sales volume starting in the fourth quarter of 2022[143]. - The company expects the retail market in Hong Kong to recover following the reopening of borders with mainland China[196].
太古股份公司B(00087) - 2022 - 年度财报