银河娱乐(00027) - 2023 - 年度业绩

Financial Performance - The group's total net revenue for the year 2023 was HKD 35.7 billion, an increase of 211% year-on-year[3] - Adjusted EBITDA for the year reached HKD 10 billion, compared to a loss of HKD 600 million in 2022[3] - The group's net profit attributable to shareholders for the year was HKD 6.8 billion, compared to a loss of HKD 3.4 billion in 2022[3] - The fourth quarter net revenue was HKD 10.3 billion, up 254% year-on-year and 7% quarter-on-quarter[3] - The adjusted EBITDA for the fourth quarter was HKD 2.8 billion, compared to a loss of HKD 200 million in the fourth quarter of 2022[3] - The company reported a profit of HKD 6,873,976 for the year, compared to a loss of HKD 3,448,177 in the previous year, marking a turnaround in profitability[10] - Basic earnings per share for 2023 were HKD 156.2, recovering from a loss of HKD 78.7 per share in 2022[9] - The company reported a profit before tax of HKD 6,827,956,000 for the year ended December 31, 2023, compared to a loss of HKD 3,433,770,000 in 2022, indicating a significant turnaround[26] Dividends - The group declared a special dividend of HKD 0.30 per share, to be distributed around April 26, 2024[7] - The company declared a special dividend of HKD 0.20 per ordinary share for 2023, down from HKD 0.30 in 2022, with total dividends paid amounting to HKD 873,783,000 compared to HKD 1,307,566,000 in the previous year[25] - The board announced a special dividend of HKD 0.30 per share, totaling approximately HKD 1.31 billion, expected to be paid on April 26, 2024[58] - A special dividend of HKD 0.20 per share was paid to shareholders on October 17, 2023, compared to HKD 0.30 per share in the previous year[58] Assets and Liabilities - The group maintained a strong balance sheet with cash and liquid investments totaling HKD 25 billion and net cash of HKD 23.5 billion as of December 31, 2023[7] - Total assets increased to HKD 87,215,455 in 2023, up from HKD 80,961,332 in 2022, reflecting a growth of approximately 7.8%[11] - Total liabilities decreased to HKD 15,998,364 from HKD 16,495,967, showing a reduction of approximately 3%[11] - The company’s equity attributable to shareholders increased to HKD 70,759,172, up from HKD 63,913,936, representing a growth of about 10.9%[11] - The company’s total liabilities as of December 31, 2023, were HKD 15,998,364,000, an increase from HKD 16,495,967,000 in 2022, indicating a decrease of approximately 3%[23] Gaming Revenue - The company's gaming revenue for the year 2023 reached HKD 31,713,587, a significant increase from HKD 7,319,848 in 2022, representing a growth of approximately 334%[18] - Net gaming revenue after commissions and incentives was HKD 27,289,868 for 2023, compared to HKD 6,566,612 in 2022, indicating a growth of around 314%[18] - The total gaming revenue for 2023 was HKD 31.71 billion, a 322% increase from the previous year[33] Development Projects - The group is advancing its Phase 4 development project, which covers approximately 600,000 square meters and is expected to be completed by 2027[1] - The focus for Phase IV development will be on non-gaming sectors, particularly MICE (Meetings, Incentives, Conventions, and Exhibitions) and family-friendly facilities[8] - The fourth phase of development in Cotai is set to introduce several high-end hotel brands and is expected to be completed by 2027[45] Visitor Statistics - The number of visitors to Macau in 2023 reached 28.2 million, a 395% increase year-on-year, recovering to 72% of 2019 levels[32] - The total number of visitors to Macau during the Lunar New Year reached 1.4 million, averaging 167,725 visitors per day, a 163% increase compared to the previous year[46] Hotel Performance - The average occupancy rate for the seven hotels in the fourth quarter was 95%[4] - The average occupancy rate of the seven hotels in 2023 was 87%[37] - The occupancy rate for the Galaxy Macau hotel was 99% in 2023, indicating strong demand[39] Financial Management - The company has adopted new and revised accounting standards in 2023, which are not expected to have a significant impact on its performance and financial position[16] - The company is currently evaluating the impact of upcoming accounting standard revisions on its accounting policies and consolidated financial statements[17] - The company maintains a conservative treasury policy, primarily investing surplus cash in low-risk deposits and high-quality listed debt securities[52] Other Financial Metrics - Interest income for 2023 was HKD 896,626,000, up from HKD 717,874,000 in 2022, representing an increase of about 25%[24] - The company’s tax expenses for 2023 totaled HKD 102,942,000, compared to HKD 95,887,000 in 2022, reflecting an increase of approximately 7.5%[24] - The company’s non-current assets in Hong Kong increased to HKD 734,000,000 in 2023 from HKD 615,000,000 in 2022, showing a growth of about 19.3%[23] Corporate Governance - The company complied with the corporate governance code, except for one provision regarding the rotation of directors[57] - The company’s annual performance for the year ending December 31, 2023, was reviewed by its audit committee and confirmed by its auditors[56] - The company will hold its 2024 Annual General Meeting on May 14, 2024, with a suspension of share transfer registration from May 8 to May 14, 2024[60] - The 2023 annual report will be published later and will include all information required by the listing rules[61]