澳博控股(00880) - 2022 - 中期财报

Financial Performance - The group's total net revenue for the six months ended June 30, 2022, was HKD 4,129 million, a decrease of 20.9% from HKD 5,222 million in the same period of 2021[40]. - The group's gaming net revenue was HKD 3,811 million, down 24.9% from HKD 5,076 million in the first half of 2021[41]. - Adjusted EBITDA for the group was negative HKD 1,176 million, compared to negative HKD 510 million in the first half of 2021, representing a decline of 130.8%[41]. - The loss attributable to the company's owners was HKD 2,757 million, an increase of 88.1% from a loss of HKD 1,466 million in the same period last year[41]. - The company reported a loss before tax of HKD 2,759.8 million, compared to a loss of HKD 1,487.7 million in the previous year, indicating a significant increase in losses[67]. - The total comprehensive loss for the period was HKD 2,828.7 million, compared to HKD 1,471.2 million in the same period last year, representing an increase of 92.3%[67]. - Basic and diluted loss per share was HKD 48.5 cents, compared to HKD 25.8 cents in the previous year, reflecting a worsening of financial performance[67]. Gaming Revenue - The group's share of Macau's gaming revenue was 16.0%, including 20.1% of mass table gaming gross revenue and 5.8% of VIP gaming gross revenue[41]. - The group's VIP gaming gross revenue was HKD 387 million, a decrease of 54.8% from HKD 855 million in the first half of 2021[45]. - VIP revenue decreased to HKD 223 million, down 41.0% from HKD 378 million[47]. - Mass market revenue fell to HKD 408 million, a decline of 43.4% from HKD 721 million[47]. - Total gaming revenue dropped to HKD 705 million, down 41.1% compared to HKD 1,198 million[47]. - Slot machine revenue totaled HKD 1,460 million, a decrease of 26.7% from HKD 1,993 million[47]. Operational Metrics - The occupancy rate of the group's integrated resort, The Venetian Macao, was 34.3%, with an average room rate of HKD 920[41]. - Hotel occupancy rate for the new Lisboa Hotel was 47.8%, down 14.6 percentage points from 62.4%[53]. - The average daily room rate for the new Lisboa Hotel decreased to HKD 643, down 9.3% from HKD 709[53]. - The number of visitors to Macau decreased by 11.8% in the first half of 2022 compared to the same period in 2021[54]. - Macau's gross gaming revenue decreased by 46.4% in the first half of 2022 compared to the same period in 2021[54]. Financial Position - As of June 30, 2022, the group's cash and bank balances were HKD 2.258 billion, a decrease of 29.5% from HKD 3.201 billion on December 31, 2021[58]. - The total outstanding bank loans as of June 30, 2022, amounted to HKD 15.301 billion, up from HKD 13.186 billion on December 31, 2021[58]. - The asset-liability ratio increased to 50.0% as of June 30, 2022, compared to 41.3% on December 31, 2021[59]. - The company's net asset value was HKD 18,151.1 million, down from HKD 20,405.1 million, reflecting a decline in overall equity[71]. - The company has a total of HKD 2,123.2 million in cash and cash equivalents as of June 30, 2022, down from HKD 3,024.2 million at the end of 2021[69]. Debt and Financing - The group completed refinancing of its syndicated loan facilities on June 20, 2022, which included HKD 9 billion in term loans and HKD 10 billion in revolving credit[41]. - The group issued a convertible bond with a principal amount of HKD 1.906 billion at a 2% coupon rate, maturing on June 22, 2027[56]. - The group has secured a bank loan of HKD 2.30 billion, with HKD 1.85 billion used for repaying outstanding bank loans and HKD 450 million allocated for general operating funds in non-gaming businesses[121]. - The group issued unsecured notes totaling USD 500 million with a fixed annual coupon rate of 4.50%, maturing in 2026, and another USD 500 million at 4.85%, maturing in 2028[123]. Strategic Initiatives - The company is focusing on market expansion and new strategies to recover from the financial downturn experienced during the reporting period[67]. - The company has plans for market expansion into Southeast Asia, targeting a 20% market share within three years[194]. - A recent acquisition of a local gaming company was completed for HKD 500 million, expected to enhance market presence[194]. - The company has introduced a new loyalty program, aiming to increase customer retention by 30%[193]. Employee and Governance - The group has approximately 19,400 full-time employees as of June 30, 2022, with a low employee turnover rate in the first half of the year[62]. - The board of directors has assessed that the company has sufficient resources to continue operating for the foreseeable future[75]. - The company confirmed that all directors adhered to the standard code of conduct for securities trading during the six months ending June 30, 2022[180]. Compliance and Corporate Governance - The company complied with all corporate governance code provisions during the period from January 1 to June 30, 2022[179]. - The interim report for the six months ending June 30, 2022, was reviewed by the audit committee[180].