银河娱乐(00027) - 2023 - 中期业绩

Financial Performance - For the first half of 2023, the group's net revenue was HKD 15.7 billion, an increase of 141% year-on-year[4] - Adjusted EBITDA for the first half of 2023 was HKD 4.4 billion, up 2,193% compared to the same period in 2022[4] - In Q2 2023, the group's net revenue reached HKD 8.7 billion, a year-on-year increase of 257% and a quarter-on-quarter increase of 23%[4] - Adjusted EBITDA for Q2 2023 was HKD 2.5 billion, compared to a loss of HKD 384 million in Q2 2022[4] - Total revenue for the six months ended June 30, 2023, reached HKD 15,715,349, a significant increase from HKD 6,523,844 in the same period of 2022, representing a growth of approximately 141%[9] - The company reported a profit of HKD 2,897,450 for the period, compared to a loss of HKD 844,990 in the previous year, indicating a turnaround in performance[10] - Basic earnings per share increased to HKD 66.2, compared to a loss of HKD 19.5 per share in the same period last year[9] - The company’s total comprehensive income for the period was HKD 3,957,591, compared to a loss of HKD 2,003,586 in the previous year, marking a substantial recovery[10] - The company's profit before tax for 2023 was HKD 2,890,261, compared to a loss of HKD 850,473 in 2022, indicating a significant turnaround in performance[28] Assets and Liabilities - The company’s total assets as of June 30, 2023, amounted to HKD 83,633,829, up from HKD 80,961,332 at the end of 2022, reflecting a growth of approximately 3%[11] - Non-current assets increased to HKD 67,194,792 from HKD 63,049,143, showing a growth of about 6.8%[11] - The company’s net current assets improved to HKD 5,093,934, compared to HKD 2,613,206 in the previous year, indicating a significant enhancement in liquidity[11] - Total liabilities as of June 30, 2023, were HKD 15,062,136,000, with gaming and entertainment liabilities at HKD 12,793,768,000[24] - The total liabilities, including accounts payable, rose to HKD 8,780,559 in June 2023, compared to HKD 7,689,593 at the end of 2022, marking an increase of approximately 14.2%[31] Gaming and Revenue - Total gaming revenue for the first half of 2023 reached HKD 13.7 billion, a 187% increase compared to the previous year[35] - Net gaming revenue amounted to HKD 11.91 billion, up from HKD 4.13 billion year-on-year, reflecting a strong recovery in the gaming sector[18] - The Macau gaming market showed a recovery with total gaming revenue reaching HKD 77.8 billion in the first half of 2023, a year-on-year increase of 205%[34] - The number of visitors to Macau reached 11.6 million in the first half of 2023, recovering to 57% of the levels seen in the first half of 2019, which is a year-on-year increase of 236%[34] Non-Gaming and Investments - The company committed to invest approximately HKD 27.52 billion in non-gaming facilities and activities over the next ten years as part of its new gaming license agreement with the Macau government[12] - The company’s revenue from hotel, shopping center, and other businesses was HKD 2.30 billion, compared to HKD 1.08 billion in the previous year, indicating growth in these segments[18] - The construction materials business reported adjusted EBITDA of HKD 329 million in the first half of 2023, a 14% increase year-on-year[46] Dividends and Shareholder Information - The group announced a special dividend of HKD 0.20 per share, to be distributed on October 27, 2023[8] - The company declared a special dividend of HKD 0.20 per share, totaling approximately HKD 870 million, to be paid on October 27, 2023[33] - Galaxy Entertainment Group will suspend share transfer registration from September 27 to September 29, 2023, to determine shareholders eligible for the proposed special dividend[63] Future Developments - The new luxury hotel, Macau Galaxy Raffles, began trial operations on August 16, 2023, enhancing luxury service offerings[2] - The group is preparing to open the Andaz Hotel in Macau in September 2023, which will have 700 rooms[2] - The fourth phase of development is focused on non-gaming businesses, targeting MICE, entertainment, and family-friendly facilities[3] - The company is preparing to open its first overseas business development office in Tokyo, with plans for additional offices in Bangkok and Seoul[52] Financial Management - The company maintained a healthy balance sheet with cash and liquid investments of HKD 24.4 billion as of June 30, 2023[37] - The company continues to adopt a conservative treasury policy to ensure sufficient liquidity and financial management[56] - The company has not pledged any properties or bank deposits as collateral for financing as of June 30, 2023[57]