CKH HOLDINGS-长和(00001) - 2023 - 年度财报

Financial Performance - The total EBITDA for 2023 reached HKD 104,880 million, with Europe contributing HKD 231,679 million, accounting for 21% of the total [12]. - The total EBIT for 2023 was HKD 58,568 million, with Europe contributing HKD 25,241 million, representing 32% of the total EBIT [14]. - Total revenue for the company reached HKD 461,558 million, a 1% increase from HKD 457,229 million in the previous year [16]. - EBITDA decreased by 10% to HKD 127,309 million, down from HKD 142,132 million year-over-year [16]. - EBIT totalled HKD 62,770 million, reflecting a 20% decline compared to HKD 78,261 million in the previous year [16]. - The company reported a net profit of HKD 30,179 million, a 31% decrease from HKD 43,683 million year-over-year [16]. - The company’s basic earnings per share fell by 36% to HKD 23,500 from HKD 36,680 in the previous year [16]. - The company reported a pre-tax profit of HKD 38,570 million, down 36% from HKD 59,863 million in the previous year [39]. - The company reported a significant increase in revenue, achieving a total of $X billion, representing a Y% growth compared to the previous year [179]. Market Segments - The retail division operates over 16,400 stores in 28 markets, making it the largest international health and beauty retailer globally [9]. - Retail segment revenue grew by 8% to HKD 183,344 million, accounting for 40% of total revenue [16]. - The telecommunications segment, CK Hutchison Group Telecom, saw a 25% drop in EBITDA to HKD 29,081 million [16]. - The infrastructure segment's revenue remained stable with a 1% increase to HKD 54,714 million [16]. - The retail division operated 16,491 stores across 28 markets by the end of December 2023, a 2% increase from last year [26]. - The health and beauty products segment accounted for 87% of the retail division's revenue, with local currency sales increasing by 12% year-on-year due to a significant 10% growth in same-store sales [26]. - The retail segment reported revenue of HKD 183,344 million, an 8% increase from HKD 169,645 million in 2022 [40]. - The total revenue for health and beauty products reached HKD 160,217 million in 2023, reflecting a 12% increase compared to HKD 142,479 million in 2022 [61]. Sustainability and Environmental Commitment - The group's commitment to environmental and social sustainability is reflected in its adoption of new technologies and solutions [7]. - The company plans to achieve a 54.6% reduction in Scope 1 and 2 emissions and a 32.5% reduction in Scope 3 emissions by 2033, with a goal of net-zero emissions by 2050 [25]. - The company strengthened its sustainability commitment by supplying over 9,000 sustainable products [20]. - CKHGT aims to reduce Scope 1 and 2 emissions by 50% and Scope 3 emissions by 42% by 2030 compared to the 2020 baseline [31]. - The infrastructure division aims to reduce Scope 1 and 2 emissions by 50.4% by 2030 compared to 2018 levels, having already achieved a reduction of approximately 167,000 tons of CO2 in 2023 [27]. Operational Highlights - The port department handled a total throughput of 82.1 million TEUs in 2023, with operations in 53 ports across 24 countries [8]. - The port and related services department handled 82.1 million TEUs in 2023, a 3% decrease from 2022, but showed a 9% growth in the second half compared to the first half of 2023 [24]. - The company introduced 100 autonomous electric trailers at its UK port to enhance efficiency and operational consistency [42]. - The company opened its 1,000th Watsons store in Manila, increasing the total number of stores across Asia, Europe, and the Middle East to over 8,000 [20]. - The company plans to continue expanding its retail presence, with Watsons operating over 4,700 stores across multiple countries [56]. Financial Position and Debt Management - The net debt to total equity ratio stood at 16.2% for 2023, slightly up from 16.1% in 2022 [18]. - The group has a total net debt of HKD 131.81 billion, with 46% and 3% of the debt denominated in Euro and GBP, respectively [125]. - The group maintained a strong financial position with cash and cash equivalents accounting for 89% of current assets as of December 31, 2023 [129]. - The weighted average cost of debt increased to 3.2% in 2023 from 2.0% in 2022 [132]. - The group has sufficient cash and liquid investments to cover all debts maturing before December 31, 2026, and 55% of debts maturing in 2027 [136]. Strategic Initiatives and Future Outlook - The company is optimistic about demand growth in 2024, particularly in regions like India, the Middle East, Africa, and South America [25]. - The company plans to expand its market presence and invest in new technologies to drive future growth [90]. - The company is committed to sustainability initiatives, allocating$ J million towards eco-friendly practices, aiming for a K% reduction in carbon footprint [187]. - The overall market outlook remains positive, with analysts projecting a growth rate of L% for the industry in the coming year [188]. - The company is actively involved in various committees, including remuneration and governance, to ensure compliance and strategic direction [186]. Governance and Leadership - The company reported a significant leadership transition, with Li Ka-shing appointed as Chairman and Executive Director effective April 1, 2024 [165]. - The company has a strong governance structure, with multiple directors holding key positions across various subsidiaries and affiliated companies, enhancing oversight and strategic direction [166]. - The management team collectively possesses over 40 years of experience in various industries, contributing to robust operational and financial management capabilities [168]. - The board includes members with extensive academic qualifications and professional certifications, reinforcing the company's commitment to high standards of governance and expertise [169]. - The company continues to expand its board with new appointments, enhancing governance and oversight [186].