Financial Performance - NAGACORP reported a revenue of $1,755.5 million for the year 2022, an increase from $1,474.3 million in 2021, reflecting a growth of approximately 19%[10]. - The company reported a net profit of $107.3 million for the fiscal year ending December 31, 2022, demonstrating a strong recovery in operations and financial performance[13]. - Revenue reached $460.7 million, with a gross profit of $376 million, indicating a solid operational rebound after two years affected by COVID-19[13]. - NAGACORP's total issued shares as of December 31, 2022, were 4,382,136,354 shares[9]. - The company reported a net profit of $107.3 million and an EBITDA of $245.4 million, with net profit and EBITDA increasing by 173.0% and 1,476.6% year-on-year respectively[25]. - The total revenue for the year was $460,700,000, with a gross profit of $376,000,000, resulting in a gross margin of 82%[39][41]. - The group recorded a net profit attributable to shareholders of $107,300,000, with a net profit margin of 23.3%[44]. Market and Economic Context - The number of international visitors to Cambodia surged to 2.28 million in 2022, a 1,059% increase compared to the previous year, positively impacting the company's customer traffic[14]. - Cambodia's GDP grew by 5.5% in 2022, with expectations for continued economic acceleration in 2023, supported by the recovery of the tourism and garment sectors[15]. - Foreign direct investment (FDI) inflows into Cambodia reached $4.7 billion in 2022, a 7.5% increase from 2021, bolstered by investments from China, Japan, and other countries[15]. - The company anticipates continued improvement in the tourism sector in 2023, driven by the ongoing recovery of social and economic activities in Cambodia[15]. - The overall economic outlook for Cambodia is optimistic, with GDP growth projected at 6.2% for 2023, benefiting the company’s operations[24]. Corporate Governance and Leadership - The company emphasizes the importance of maintaining communication with shareholders through annual reports and other disclosures[8]. - NAGACORP's operational leadership includes experienced executives, with Tan Sri Dr Chen Lip Keong serving as the CEO[7]. - Timothy Patrick McNally has been the non-executive chairman since February 2005 and has extensive experience in corporate governance and law enforcement[64]. - The company has a strong leadership team with members holding significant positions in various subsidiaries and related companies[70]. - The board includes independent directors with over 30 years of experience in finance, law, and corporate governance, enhancing oversight and strategic direction[72][73][76]. Sustainability and Corporate Social Responsibility - The company is committed to sustainable development and has included a sustainability report in its annual disclosures[6]. - The company has been recognized with eight regional and international awards for its corporate social responsibility initiatives, including the International Business Awards[16]. - The company has implemented over 620 community-focused programs through its NagaWorld Kind Hearts initiative, emphasizing education and community engagement[15]. - The company aligns its sustainability efforts with 16 of the 17 United Nations Sustainable Development Goals, aiming for long-term carbon neutrality in Cambodia by 2050[85]. - The company is committed to community engagement through its corporate social responsibility initiatives, including support for local charities and skill development programs[96]. Gaming and Non-Gaming Operations - NAGACORP is the largest hotel, gaming, and entertainment operator in Cambodia, having been listed on the Hong Kong Stock Exchange since 2006[6]. - Gaming revenue and gross profit increased by 152.9% and 161.9% year-on-year, reflecting a strong recovery in business operations[25]. - Non-gaming revenue surged by 528.2% year-on-year, attributed to the reopening of operations and increased hotel occupancy rates[19]. - The company’s mid-market business showed stable growth, with gaming table and electronic gaming machine revenues increasing by 147.2% and 220.7% year-on-year respectively[18]. - The Naga 3 development project is progressing well, expected to include approximately 5,000 hotel rooms and 1,300 gaming tables, enhancing the company’s market position[20]. Employee Engagement and Development - The company reported a total of 6,398 employees[81]. - The company emphasizes the importance of employee retention and attraction, which is critical for becoming the employer of choice and involves providing equal opportunities and fair compensation[103]. - The company implemented a comprehensive employee training and development plan to enhance skills and knowledge in response to industry demands[178]. - Total training hours for employees reached 255,013, averaging 40 hours per employee in 2022[185]. - The company offers competitive employee benefits, including 18 days of paid annual leave and 14 days of paid sick leave[195]. Environmental Impact and Management - The company aims to enhance energy efficiency in its buildings to save on electricity costs and reduce carbon emissions, responding to the global decarbonization commitment[100]. - The average monthly carbon emission density decreased by 12% compared to 2021[113]. - The average monthly energy usage intensity was reduced by 38% compared to 2021[80]. - The company has implemented a food waste collection program and initiated battery recycling efforts[114]. - The company is committed to responsible water management, closely monitoring water usage and implementing preventive maintenance to reduce consumption[140].
金界控股(03918) - 2022 - 年度财报