BEIJING AIRPORT(HK:00694)2024-03-27 13:42Financial Performance - In 2023, Beijing Capital International Airport recorded 379,710 aircraft movements, an increase of approximately 140.9% year-over-year[2]. - Passenger throughput reached 52,879,156, representing a growth of about 316.3% compared to the previous year[2]. - The company's main business revenue for 2023 was RMB 4,558,524,000, reflecting an increase of approximately 104.3% year-over-year[2]. - Aviation revenue amounted to RMB 2,096,878,000, up approximately 195.0% from the previous year[2]. - Non-aviation revenue was RMB 2,461,646,000, which is an increase of about 61.9% year-over-year[2]. - The net loss after tax for 2023 was RMB 1,696,788,000, a reduction of about 51.9% from the net loss of RMB 3,526,635,000 in the previous year[2]. - The company reported a net loss of RMB 1,696,788,000 for the year ending December 31, 2023, compared to a net loss of RMB 3,526,635,000 in 2022, indicating a significant improvement in financial performance[12]. - Total comprehensive loss for 2023 was RMB 1,709,603,000, which includes other comprehensive losses of RMB 12,815,000[12]. - The company reported a net loss of RMB (1,696,788) thousand in 2023, resulting in a basic loss per share of RMB (0.37), compared to a net loss of RMB (3,526,635) thousand and a basic loss per share of RMB (0.77) in 2022[25]. - The company did not recommend the distribution of a final dividend for the year ending December 31, 2023[2]. Operating Expenses and Cash Flow - Operating expenses for 2023 totaled RMB 5,913,009,000, a rise of approximately 2.1% compared to the previous year[2]. - Operating cash outflow for the year was RMB 575,863,000, down from RMB 1,501,321,000 in the previous year, reflecting better cash management[12]. - The company's cash and cash equivalents as of December 31, 2023, were RMB 1,281,806,000, down from RMB 1,590,413,000 on December 31, 2022[57]. - The current ratio as of December 31, 2023, was 0.22, an increase from 0.19 on December 31, 2022[57]. - The debt-to-asset ratio as of December 31, 2023, was 54.32%, up from 50.41% on December 31, 2022[57]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 32,589,339,000, down from RMB 33,483,400,000 in 2022[6]. - Total liabilities increased to RMB 17,701,536,000 in 2023 from RMB 16,878,480,000 in 2022[8]. - As of December 31, 2023, current liabilities exceeded current assets by RMB 10,479,796,000, indicating liquidity pressures[12]. - The company's total equity as of December 31, 2023, was RMB 14,887,803,000, a decrease from RMB 16,604,920,000 at the end of 2022[12]. - Total borrowings at the end of 2023 were RMB 8,558,200 thousand, up from RMB 6,398,841 thousand at the end of 2022[32]. Revenue Breakdown - Franchise income for 2023 was RMB 1,399,417,000, significantly higher than RMB 675,551,000 in 2022, showing strong growth in this segment[18]. - The company's non-aeronautical business revenue for 2023 was RMB 2,461,646,000, an increase of approximately 61.9% compared to the previous year[47]. - Catering revenue increased by approximately 125.8% to RMB 96,889,000, driven by higher passenger volumes[47]. - Rental income rose by 16.1% to RMB 860,352,000, benefiting from increased flight operations at Beijing Capital Airport[47]. - The total cargo and mail throughput for 2023 was 1,115,908 tons, representing a growth of approximately 12.9% year-over-year[44]. Challenges and Outlook - The company faced challenges due to slow recovery of international routes and the impact of flight rerouting to Daxing Airport, which affected operational performance[10]. - The outlook for 2024 indicates a favorable economic recovery, although challenges remain in operational quality and international business recovery[67]. - The company expresses gratitude to shareholders and partners for their support during the recovery phase post-pandemic, acknowledging the challenges faced due to the slower recovery of international business[69]. Strategic Initiatives - In 2024, the company aims to enhance international hub competitiveness by accelerating key construction projects and upgrading hardware facilities, leveraging technological innovation and management methods[69]. - The company plans to improve service quality by implementing safety culture initiatives and enhancing operational efficiency, including increasing flight bridge rates and improving ground operation efficiency[68]. - The company will focus on cost reduction and efficiency enhancement, implementing strict cost project reviews and comprehensive budget management to lower funding costs[68]. - The company emphasizes sustainable development and will integrate ESG principles into its strategic planning and operational management[69]. - The company will establish a data management standard system and a mechanism for the transformation of technological achievements to empower smart airport construction[68]. - The company will continue to innovate business models and dynamically adjust resource allocation to enhance operational strength and accelerate business performance improvement[68]. Miscellaneous - The company maintained a total employee count of 1,542 as of December 31, 2023, unchanged from the previous year[58]. - The company did not engage in any major mergers or acquisitions during the year ending December 31, 2023[61]. - The annual performance announcement for the year ending December 31, 2023, has been reviewed by the Audit and Risk Management Committee and is available on the Hong Kong Stock Exchange website[71].