香格里拉(亚洲)(00069) - 2023 - 中期业绩

Financial Performance - For the six months ended June 30, 2023, the company reported a profit attributable to shareholders of $131.4 million, a significant improvement of $289.6 million compared to a loss of $158.2 million in the same period last year[5]. - Total revenue for the same period was $1,006 million, representing a 60.3% increase or $378.5 million from $627.5 million in the prior year, driven by strong recovery in hotel operations, particularly in Hong Kong and mainland China[5]. - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the six months was $266 million, up 365.0% from $57.2 million in the previous year[3]. - The actual attributable EBITDA from the company, subsidiaries, and associates was $396.5 million, an increase of 134.3% from $169.2 million year-on-year[3]. - The company reported a significant increase in user data, with a notable rise in customer engagement metrics[8]. - Future outlook remains positive with expectations of continued revenue growth driven by new product launches and market expansion strategies[8]. - The company reported a net profit of $131,364,000 for the period, despite a comprehensive loss of $118,602,000[11]. - The total comprehensive income for the six months ended June 30, 2023, was a loss of $118,654,000[11]. - The company reported a net profit attributable to the company's owners for the six months ended June 30, 2023, was $131,364 million, compared to a loss of $158,219 million in the same period of 2022[43]. Revenue Breakdown - Room revenue reached $486.282 million, up from $244.756 million year-over-year, indicating a growth of about 98.5%[18]. - Food and beverage sales increased to $367.179 million from $230.156 million, reflecting a growth of approximately 59.7%[18]. - The hotel operations segment reported total revenue of $1,009.0 million for the first half of 2023, up from $600.0 million in the same period of 2022, marking an increase of approximately 68%[21]. - The total revenue from hotel management and related services increased by 24.8% to $106.7 million for the six months ended June 30, 2023[68]. - Hotel properties generated a profit of $50.8 million for the six months ended June 30, 2023, a significant turnaround from a loss of $157.9 million in the prior year, driven by recovery in mainland China and Hong Kong, along with strong growth in Singapore[77]. Operational Metrics - The weighted average occupancy rate for the company's hotels was 60% for the six months ended June 30, 2023, up 26 percentage points from 34% in the same period last year[59]. - Average revenue per available room (RevPAR) increased by 102% to $103 for the six months ended June 30, 2023, compared to $51 in the same period of 2022[59]. - In Hong Kong, hotel revenue increased by 133.4% to $139,600,000 for the six months ended June 30, 2023, with occupancy rising to 65% from 34% in the previous year[60]. - In mainland China, the hotel occupancy rate for the six months ended June 30, 2023, was 60%, up 28 percentage points from 32% for the same period in 2022[61]. - Revenue per available room (RevPAR) in mainland China increased by 140% to $72, compared to $30 for the same period in 2022[61]. - Total revenue from hotel properties in mainland China rose by 74.7% to $328.7 million for the six months ended June 30, 2023[61]. Financial Position - The net asset value attributable to shareholders decreased by 2.4% to $5,129.6 million from $5,254.0 million as of December 31, 2022[4]. - The net asset value per share was $1.44, down 2.0% from $1.47 at the end of 2022[4]. - Total liabilities as of June 30, 2023, were $7,167,602 thousand, slightly down from $7,208,991 thousand at the end of 2022[7]. - Non-current liabilities, specifically bank loans, increased to $3,879,990 thousand from $3,527,212 thousand[7]. - As of June 30, 2023, total equity amounted to $5,305,214,000, with retained earnings of $1,615,064,000[11]. - The company’s total assets increased to $247.252 million as of June 30, 2023, compared to $209.026 million at the end of 2022[24]. Investment and Development - The company has engaged in hotel property development and management, as well as investment property operations[13]. - The group has a total of 611 hotel rooms at Hongqiao Airport Shangri-La and Shengmao Hotel, which will operate under a lease agreement and is expected to open in 2024[88]. - The group is developing several projects, including a 25% equity interest in Shenyang Kerry Center (Phase III) with a total floor area of approximately 399,326 square meters, expected to be completed starting in 2024[89]. - The group has a 45% equity interest in the Zhengzhou integrated development project, which includes residential, office, and commercial spaces totaling approximately 156,903 square meters, expected to be completed starting in 2023[89]. Financing and Debt Management - The company has secured additional financing post-June 30, 2023, including a new three-year bank loan of RMB 450 million (approximately $62.3 million) and a five-year bank loan of RMB 1.15 billion (approximately $159.2 million)[82]. - The company issued a five-year fixed-rate bond of SGD 160 million (approximately $118 million) in August 2023, with an annual coupon rate of 4.40%[82]. - The company confirmed that it faced no difficulties in accessing bank credit during the reporting period[78]. - The adjusted total equity of the company was $9 billion, resulting in a debt ratio of 63.6% based on total financial liabilities of $5.7 billion[78]. Market Outlook - The company continues to see strong demand in the hotel sector, supported by the easing of cross-border restrictions and a rebound in international travel[5]. - The group remains optimistic about the remainder of 2023, focusing on seizing business opportunities while maintaining flexibility in a rapidly changing hotel environment[95].