ESR(01821) - 2023 - 年度财报

Assets Under Management - As of December 31, 2023, ESR's assets under management related to management fee income reached $81 billion[2]. - Total assets under management amounted to$156 billion, including contributions from joint ventures[7]. - Assets under management related to management fee income grew by 6.3% to approximately $81 billion, while total assets under management increased by 7.3$156 billion[27]. - ESR Group Limited's assets under management reached approximately $81 billion as of December 31, 2023, with management fee income contributing about 95$713 million for the fiscal year 2023, representing a year-on-year increase of 3.3% and a compound annual growth rate of 57% over three years[22]. - The management fee income related to long-term core and permanent investment companies exceeded 60%, driven by the establishment of listed real estate investment trusts and new permanent core investment companies[49]. - Fund management fee income has grown at a compound annual growth rate of 57% since 2020[27]. - Management fees rose by 3.3% from $713.3 million in FY2022 to$736.7 million in FY2023, attributed to the growth in assets under management[68]. Financial Performance - Total revenue increased by 6% from $821 million in fiscal year 2022 to$871 million in fiscal year 2023[25]. - EBITDA decreased by 23.1% year-on-year to $885 million, while PATMI fell by 38.8$400 million[25]. - The group reported a significant increase in user engagement, with a 40% year-over-year growth in active users[112]. - Revenue for the fiscal year reached $1.2 billion, representing a 25$1.5 to $2 billion in assets and investments primarily located in mainland China, Hong Kong, Japan, and India, available for divestment and asset sales[13]. - The integration of ESR and LOGOS into a single business platform is expected to create additional revenue opportunities and cost savings[13]. - The company is focusing on high-return core businesses, particularly in logistics and data centers, while also expanding into emerging growth sectors such as life sciences and infrastructure[14]. Sustainability and Environmental Commitment - ESR is committed to achieving carbon neutrality and improving the future environment as part of its core mission[3]. - The company is committed to sustainable development, having been recognized as an outstanding green and sustainable loan issuer in Hong Kong[12]. - The group has installed a total of 112 MW of rooftop solar power and 809 electric vehicle charging stations as part of its commitment to sustainability[35]. - ESR has begun climate scenario analysis and climate-related risk assessments to identify and manage climate-related risks and opportunities in its property portfolio[96]. Development and Construction - The group has a development pipeline of over 24.5 million square meters, including approximately 7 million square meters of large-scale land reserves for future development, supporting future management fees and development profits[33]. - The group commenced construction projects worth$6.3 billion and completed projects worth $4.2 billion during the year, with only 2$1.35 billion ESR data center fund contributing a capacity of 575 MW[34]. - The company is developing significant projects, including a $4.2 billion intermodal logistics hub in Australia and a$1.5 billion multi-phase logistics park in Japan[34]. Corporate Governance and Leadership - The board includes experienced executives with over 28 years in real estate development and investment, enhancing operational oversight[108]. - The company has a commitment to innovation and sustainable growth, as emphasized by Kannan's leadership approach[111]. - The board is responsible for establishing the overall risk strategy and governance framework, ensuring adequate resources for risk management[134]. - The company has adopted high corporate governance standards, complying with all provisions of the corporate governance code as of December 31, 2023[146]. Diversity, Equity, and Inclusion - The company emphasizes the importance of diversity, equity, and inclusion in its workplace culture[3]. - The group achieved a 45.4% female representation in its workforce and maintained a zero employee fatality rate, receiving ISO 45001 certification for occupational health and safety[83]. - The company continues to promote diversity, equity, and inclusion (DEI) initiatives, establishing a DEI committee in Europe to enhance recruitment processes[92]. - The board is committed to maintaining a strong representation of women on the board and will continue to seek suitable candidates over time[164]. Risk Management - The company employs a comprehensive risk review process to identify and prioritize key risks across the organization, ensuring alignment with business objectives[139]. - The risk management framework is designed to identify, assess, monitor, and report risks, ensuring alignment with business objectives and strategies[133]. - The company has established strict internal policies to prevent insider trading and conflicts of interest, including a whistleblowing policy[169]. - The board conducted an annual review of the effectiveness of the group's risk management and internal control systems, confirming their adequacy without any significant concerns raised[171]. Shareholder Engagement and Communication - The company emphasizes strong and sustainable relationships with stakeholders, aiming for effective two-way communication with shareholders, investors, analysts, and the public[122]. - The company has established a shareholder communication policy to facilitate ongoing dialogue between the board, senior management, and the investment community[177]. - The company maintains high standards of information disclosure, regularly holding financial performance briefings and discussions to explain its strategy and business performance[124]. - ESR Group actively engages with stakeholders through various investor activities, including nine major investment bank conferences in 2023[123].