英皇钟表珠宝(00887) - 2024 - 年度业绩

Financial Performance - Total revenue increased by 8.4% to HKD 5,230 million for the year ended December 31, 2024, compared to HKD 4,823 million in 2023[4] - Net profit decreased by 14.0% to HKD 257 million, down from HKD 299 million in the previous year[4] - Adjusted EBITDA decreased by 7.9% to HKD 433 million, reflecting challenges in operational performance[4] - Basic earnings per share fell by 14.0% to HKD 3.79, down from HKD 4.41 in 2023[6] - The company's gross profit for the same period was HKD 1,480,943,000, slightly up from HKD 1,450,281,000 in 2023, indicating a gross margin improvement[24] - The net profit for the year was HKD 256,737,000, down from HKD 299,219,000 in 2023, reflecting a decrease of 14.2%[24] - The company reported a pre-tax profit of HKD 317,038,000 for the year ended December 31, 2024, compared to HKD 367,732,000 in 2023, a decrease of approximately 13.8%[34] - Total tax expenses for 2024 amounted to HKD 60,301,000, a decrease of 11.9% from HKD 68,513,000 in 2023[43] Revenue Breakdown - Revenue from Hong Kong increased by 16.5% to HKD 2,923 million, accounting for 55.9% of total revenue[5] - Jewelry segment revenue surged by 41.0% to HKD 1,893 million, representing 36.2% of total revenue[5] - Sales of watches amounted to HKD 3,319,145,000 in 2024, down from HKD 3,465,488,000 in 2023, reflecting a decline of approximately 4.2%[39] - Jewelry sales increased significantly to HKD 1,892,997,000 in 2024, up from HKD 1,342,848,000 in 2023, marking a growth of around 40.9%[39] - The segment profit for the Asia-Pacific region was HKD 581,146,000 for 2024, compared to HKD 609,402,000 in 2023, indicating a decrease of about 4.6%[34] Dividends and Shareholder Returns - The company has proposed a final dividend of HKD 0.45 per share, down from HKD 0.56 per share in the previous year[6] - The board proposed a final dividend of HKD 0.0045 per share, down from HKD 0.0056 per share in 2023, subject to shareholder approval[21] - The company proposed a final dividend of HKD 0.0045 per share for 2024, down from HKD 0.0056 per share in 2023, representing a decrease of 19.6%[47] Operational Highlights - The total number of stores reached 82 across Hong Kong, Macau, mainland China, Singapore, and Malaysia[10] - The company plans to enhance its e-commerce business by leveraging online platforms to capture the potential of internet and mobile users[15] - The company aims to expand its market share in the wedding jewelry sector by diversifying product offerings and enhancing brand exposure[14] - The company continues to explore market expansion opportunities and new product development to enhance future growth prospects[44] Financial Position - The company maintained a strong liquidity position with a current ratio of 7.7 and a quick ratio of 2.0 as of December 31, 2024[17] - The company reported cash and cash equivalents of HKD 916,360,000 as of December 31, 2024, a significant increase from HKD 458,750,000 in 2023[26] - The company has approximately HKD 1,043,300,000 in available but undrawn bank financing, indicating strong financial flexibility[17] - The company incurred financing costs of HKD 24,119,000 in 2024, compared to HKD 10,228,000 in 2023, indicating an increase of approximately 136.5%[34] - The company’s total assets decreased to HKD 223,822,000 in 2024 from HKD 271,677,000 in 2023, indicating a decline of 17.6%[50] - The company’s cash and cash equivalents were reported at HKD 116,704,000 in 2024, down from HKD 177,341,000 in 2023, a decrease of 34.2%[50] Employee Costs - The total employee cost for the year was HKD 370,300,000, an increase from HKD 340,000,000 in 2023, reflecting a focus on talent retention and competitive compensation[20] - The total employee costs, including director remuneration, rose to HKD 370,281,000 in 2024 from HKD 339,996,000 in 2023, an increase of about 8.9%[42] Market Conditions - Total revenue from operations in 2024 is expected to be impacted by ongoing market conditions, with a focus on cost management strategies[44] - The company has not recognized any tax provisions for Malaysia due to no taxable profits generated in 2024[46] Governance and Reporting - The board of directors consists of executive and independent non-executive members, ensuring diverse governance[63] - The annual performance announcement has been published on the Hong Kong Stock Exchange website and the company's website[62] - The annual report will be published at an appropriate time on the aforementioned websites and sent to shareholders[62]