长和(00001) - 2023 - 年度业绩

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 461,558 million, a 1% increase from HKD 457,229 million in 2022[2]. - EBITDA for the same period decreased to HKD 127,309 million from HKD 142,132 million, representing a decline of 10.4%[2]. - Reported profit attributable to shareholders was HKD 23,500 million, down 9% from HKD 25,741 million in 2022, with earnings per share decreasing from HKD 6.72 to HKD 6.14[2][6]. - The company did not record any one-off gains in 2023, contrasting with a significant one-off gain in 2022, which impacted the year-on-year profit comparison[5]. - The cash flow from operations decreased by less than 5%, while free cash flow increased by 12% year-on-year[5]. - The total revenue for 2023 reached HKD 461,558 million, a 1% increase from HKD 457,229 million in 2022[36]. - Net profit attributable to ordinary shareholders fell by 36% to HKD 23,500 million compared to HKD 36,680 million in 2022[36]. - The company reported a significant decline in EBIT for CK Hutchison Group Telecom, dropping 82% to HKD 2,265 million[38]. - The company reported a pre-tax profit of HKD 33,212 million for 2023, down from HKD 51,933 million in 2022, a decrease of about 36.2%[134]. Segment Performance - The port and related services segment handled 82.1 million TEUs, a 3% decrease from 2022, but showed a 9% increase in the second half of 2023 compared to the first half[9]. - The total revenue for the port services segment was HKD 40,851 million, down 7% from the previous year, with EBITDA and EBIT decreasing by 14% and 18%, respectively[9]. - For the retail sector, total revenue reached HKD 183.34 billion, with EBITDA and EBIT increasing by 13% and 17% year-on-year, respectively[12]. - The health and beauty products segment accounted for 87% of retail revenue, with local currency sales growing by 12% and EBITDA and EBIT increasing by 15% and 18% respectively[13]. - CK Hutchison Group Telecom reported revenue of HKD 86.81 billion, a 4% increase year-on-year, while EBITDA and EBIT decreased by 31% and 82% respectively due to the impact of one-time gains in 2022[20]. - The infrastructure sector recorded a net profit attributable to shareholders of HKD 8.027 billion, with a 12% year-on-year increase when excluding one-time gains from 2022[17]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 1.775 per share, a decrease of 14.9% from HKD 2.086 in 2022, leading to a total annual dividend of HKD 2.531, down 13.5%[7]. - The company paid dividends of HKD 2,896 million for 2023, compared to HKD 3,221 million for 2022, reflecting a decrease of about 10.1%[73]. Environmental and Sustainability Initiatives - The retail sector aims to reduce Scope 1 and 2 emissions by 50.4% by 2030 compared to 2018 levels, with a 26% reduction achieved in 2023[14]. - The company aims to achieve net-zero emissions by 2050, with a focus on electrification and clean energy for new investments[10]. - In 2023, the company reduced Scope 1 and 2 emissions by approximately 740,000 tons of CO2, achieving 18% of its established reduction target[18]. - The company aims to reduce Scope 1 and 2 emissions by 50% by 2030 compared to a 2020 baseline, achieving an 80% reduction in 2023[22]. - The group is committed to sustainable investments, including low-carbon technologies and 5G transformation initiatives[31]. Cash Flow and Financial Position - Total cash and cash equivalents amounted to HKD 143.19 billion, with total debt at HKD 274.99 billion, resulting in a net debt to total equity ratio of 16.1%[28]. - The company reported a net cash outflow from investment activities of HKD 17,430 million in 2023, compared to HKD 4,513 million in 2022, indicating a significant increase in cash used for investments[139]. - The company incurred a cash outflow of HKD 46,784 million for financing activities in 2023, compared to HKD 67,406 million in 2022, a decrease of 30.6%[139]. - The company’s operating cash flow before interest and tax was HKD 9,669 million, compared to HKD 73,897 million in the previous year[76]. Impairments and Asset Valuation - The company recognized a non-cash impairment of HKD 110,390 million related to its Italian telecom business[39]. - The impairment loss related to Wind Tre was HKD 11,039 million, impacting the overall EBIT and EBITDA figures[128]. - The company conducted impairment assessments for associates and joint ventures when there were indications of impairment, which involved significant judgment to estimate the recoverable value of investments[49]. Auditor and Compliance - The auditor's report concluded that there were no significant uncertainties regarding the company's ability to continue as a going concern[61]. - The auditor identified and assessed risks of material misstatement due to fraud or error and designed audit procedures to address these risks[57]. - The company is responsible for preparing financial statements that are true and fair, and for internal controls to prevent material misstatements due to fraud or error[54]. Capital Expenditures and Investments - Capital expenditures for 2023 totaled HKD 25,301 million, compared to HKD 25,852 million in 2022, indicating a decrease of about 2.1%[107]. - The company made capital expenditures of HKD 21,670 million in 2023, down from HKD 23,885 million in 2022, a reduction of 9.2%[139]. Joint Ventures and Partnerships - The total revenue from joint ventures for 2023 is HKD 304,130 million, down from HKD 403,798 million in 2022, representing a decline of about 24.7%[190]. - The EBITDA from joint ventures for 2023 is HKD 60,278 million, a decrease from HKD 84,536 million in 2022, reflecting a decline of approximately 28.7%[190]. - The group received dividends from joint ventures amounting to HKD 964 million in 2023, compared to HKD 866 million in 2022, showing an increase of 11.3%[190].