Revenue Growth and Financial Performance - Revenue increased from $85.4 million in 2006 to $1.7 billion in 2019, a growth of 21 times[8]. - The company reported a net profit of $177.7 million for the fiscal year ending December 31, 2023, representing a 66% increase compared to the previous year[23]. - The company's revenue increased by 7.2% year-on-year to $9,900,000, recovering 82.3% compared to the pre-pandemic peak in FY2019[33]. - Net profit grew by 65.7% to $177,700,000, while EBITDA increased by 20.3% to $295,300,000, reflecting a robust recovery trajectory[33]. - The total revenue for the year was $460.7 million, with a gross profit of $376.0 million, resulting in a gross margin of 82%[49]. - The group recorded a gross profit of $421.6 million for the year, with an overall gross margin of 79%, down from 82% in the previous year[49]. - The company's profit attributable to owners increased to $177.732 million in 2023 from $107.254 million in 2022, representing a growth of approximately 65.4%[53]. - EBITDA for 2023 was reported at $295.338 million, up from $245.416 million in 2022, indicating a year-over-year increase of about 20.3%[53]. Expansion and Development Projects - The company opened its second hotel property, Naga 2, in November 2017, with an investment of $369 million, significantly increasing guest volume in hotel, gaming, and entertainment sectors[8]. - The completion of the Naga 3 project is now expected to be delayed until 2029 due to the global pandemic and supply chain issues[8]. - The Naga 3 project, with a planned area of 3,500,000 square meters, is financed 50% by internal resources, with the remaining through subscription agreements with shareholders[12]. - The total investment for the expansion of NagaWorld, including Naga 1 and Naga 2, is approximately $1.5 billion, enhancing its status as a world-class integrated resort[11]. - The company plans to invest at least $350 million in a project in Vladivostok, Russia, as part of its strategic expansion[12]. Tourism and Market Recovery - The total number of international visitors to Cambodia reached 5.5 million in 2023, recovering to 82.5% of the pre-pandemic levels in 2019[26]. - Cambodia is projected to attract 7 million international tourists by 2025, surpassing the pre-pandemic level of 6.6 million in 2019[25]. - The company benefits from the ongoing recovery of the tourism industry, which is expected to continue driving economic growth in Cambodia[24]. - The number of direct flights to Cambodia is increasing, contributing to the recovery of the tourism sector and overall economic activity[25]. - The Cambodian government is actively promoting initiatives to enhance the tourism sector, which is expected to further boost visitor numbers[26]. Corporate Social Responsibility and Governance - The company has implemented over 660 community-focused initiatives through its corporate social responsibility program, NagaWorld Kind Hearts[26]. - The founder's leadership has left a rich legacy and a strong commitment to corporate social responsibility and good governance practices[8]. - NagaWorld received multiple international awards, including the Gold Stevie® Award for Corporate Social Responsibility in Asia, Australia, and New Zealand[42]. - The company has committed to supporting Cambodian athletes and has been a partner of the National Olympic Committee since 2011, sponsoring various major sporting events[40]. - The company maintains a zero-tolerance policy towards corruption, ensuring integrity and transparency in operations[102]. Environmental Initiatives and Sustainability - The company aims to achieve net-zero emissions by 2050 as part of its long-term carbon neutrality strategy, aligning with Cambodia's national climate plans[67]. - The company has established an environmental policy to guide its management of environmental impacts, approved by the board in February 2024[113]. - The company has committed to reducing grid electricity usage by 25% from the 2018 baseline by 2030, aligning with Cambodia's national energy efficiency policy[123]. - The company achieved a 100% food waste recycling rate in 2023, maintaining its goal for 2030[147]. - The company has recycled various waste types, including food waste, paper, and plastic bottles, with 19% of waste diverted from landfills in 2023[146]. Employee Engagement and Development - The workforce consists of 6,038 full-time employees, with 93% being local hires and 50% female representation[166]. - The company provided over 190,000 training hours to employees, emphasizing skill development and career growth[1]. - The company has launched a series of employee engagement programs focused on inter-departmental interaction and fostering creativity and talent[185]. - The company offers competitive benefits, including 18 days of paid annual leave and 14 days of paid sick leave, contributing to employee well-being[193]. - The company emphasizes a non-discrimination policy regarding union organization and activities, ensuring fair treatment in employment decisions[194].
金界控股(03918) - 2023 - 年度财报