长和(00001) - 2024 - 中期业绩

Revenue and Profitability - Total revenue for the six months ended June 30, 2024, was HKD 232.644 billion, an increase of 4% compared to HKD 223.867 billion in the same period of 2023[2]. - Reported profit attributable to shareholders decreased by 9% to HKD 10.205 billion, with earnings per share at HKD 2.66, down from HKD 2.93 in 2023[2][3]. - The interim dividend declared is HKD 0.688 per share, a decrease of 9% from HKD 0.756 per share in the previous year[4]. - The company anticipates continued growth in revenue and profitability for the remainder of 2024, driven by market expansion and new product launches[33]. - The net profit attributable to ordinary shareholders for the six months ended June 30, 2024, was HKD 10,205 million, down from HKD 11,208 million in 2023, reflecting a decrease of 8.9%[88]. Segment Performance - The port and related services segment handled 42.3 million TEUs, a 7% increase year-on-year, with revenue rising to HKD 21.594 billion, up 9%[5]. - The retail division operated 16,548 stores across 28 markets as of June 2024, a 2% increase year-on-year, with total revenue of HKD 91.49 billion, up 3% from last year[6]. - The health and beauty products segment accounted for 88% of the retail division's revenue in the first half of 2024, with same-store sales growing 5% year-on-year[6]. - CK Hutchison Group Telecom reported revenue of HKD 42.93 billion, a 3% increase year-on-year, with EBITDA and EBIT rising 17% and 444% respectively[8]. - The infrastructure division reported a net profit attributable to shareholders of HKD 4.31 billion, a 2% increase year-on-year, driven by stable contributions from infrastructure assets[7]. Financial Metrics - EBITDA for the same period was HKD 63.422 billion, up from HKD 61.151 billion, reflecting a growth of 4%[2]. - EBIT increased by 5% to HKD 30,955 million for the six months ended June 30, 2024, up from HKD 29,613 million in the previous year[14]. - The total gross profit for the same period was HKD 31,245 million, reflecting a 3% increase compared to HKD 30,258 million in the previous year[30]. - The total liabilities for the company as of December 31, 2023, were HKD 423,572 million[78]. - The company reported a total of HKD 69,381 million in unamortized liabilities arising from acquisitions as of June 30, 2024, compared to HKD 58,393 million at the end of 2023, marking an increase of about 18.5%[115]. Cash Flow and Investments - Free cash flow for the first half of 2024 increased by 17% year-on-year, driven by growth in operating cash flow and prudent capital expenditure reduction[11]. - The company reported a net cash outflow from investing activities of HKD 6,921 million for the six months ended June 30, 2024, compared to HKD 6,219 million for the same period of 2023[91]. - The company incurred capital expenditures of HKD 8,935 million for the purchase of fixed assets during the six months ended June 30, 2024[91]. - The company’s net cash flow from financing activities was HKD (4,650) million, reflecting a significant decrease compared to the previous period[91]. - The total cash and cash equivalents increased to HKD 131,599 million as of June 30, 2024, up from HKD 127,323 million at the beginning of the year[91]. Market Conditions and Outlook - The geopolitical situation and global financial conditions remain uncertain, impacting consumer demand and operational performance[3]. - The company expects moderate growth in overall cargo volume in 2024, particularly in Asia, Europe, and Latin America[5]. - The company plans to continue focusing on market expansion and new product development to drive future growth[15]. - The company aims to enhance operational efficiency and explore potential mergers and acquisitions to drive future growth[79]. - The company continues to invest in 5G transformation, enhancing network efficiency and integrating sustainability goals into executive compensation plans[10]. Environmental and Sustainability Goals - The port division has implemented a mandatory electrification directive for all new equipment, aiming for a 5% reduction in emissions per TEU by May 2024[5]. - The company aims to reduce Scope 1 and 2 emissions by 50% by 2030 compared to a 2020 baseline, and Scope 3 emissions by 42% by the same year[10]. - The group aims to reduce Scope 1 and 2 emissions by 50% by 2035 and seeks to achieve net-zero greenhouse gas emissions across its value chain by 2050[12].