CKI HOLDINGS(01038)2025-04-15 09:15Financial Performance - Shareholders' profit attributable to the company reached HKD 8,115 million in 2024, reflecting a 1.1% increase from HKD 8,027 million in 2023[25] - The company declared an interim dividend of HKD 1,814 million and a proposed final dividend of HKD 4,687 million for 2024, resulting in a total dividend of HKD 6,501 million, up from HKD 6,450 million in 2023[25] - The earnings contribution from operational businesses recorded a strong growth of 10% year-on-year[26] - The company’s earnings per share for 2024 was HKD 3.22, slightly up from HKD 3.19 in 2023[22] - CK Infrastructure Holdings Limited reported a strong operational profit growth of 10% year-on-year, with a net profit of HKD 8.115 billion for the year ending December 31, 2024, representing a 1% increase from the previous year[29] - The full-year dividend for 2024 was HKD 2.58 per share, marking 28 consecutive years of dividend growth since the company's listing in 1996[55][57] Financial Position - Total assets amounted to HKD 157,837 million in 2024, a decrease from HKD 165,873 million in 2023[22] - The net debt to total equity ratio stood at 7.8%, indicating stable financial leverage[7] - The company’s cash balance was HKD 8,115 million, reflecting a solid liquidity position[7] - The company held cash of HKD 8 billion as of December 31, 2024, with a net debt to total capital ratio of 7.8%, indicating strong financial stability[49] Business Operations - The company operates a diversified business portfolio across energy infrastructure, transportation, water treatment, and waste management, with investments spanning multiple regions including Hong Kong, mainland China, the UK, and Australia[3] - The company completed several acquisitions, including Phoenix Energy in Northern Ireland and UK Renewables Energy, which immediately contributed to revenue post-transaction[29] - The company launched a brand revitalization initiative for ista, including acquisitions in the electric vehicle charging sector and expanding international operations[42] - The company is focused on sustainable development, with ongoing projects in smart grids and renewable energy integration in the UK and Australia[51] - The company is committed to environmental sustainability and aims to lead the industry in net-zero energy systems through innovative infrastructure projects[83] Regional Performance - The UK business segment recorded a profit contribution of HKD 3.981 billion, a 31% increase year-on-year, with regulated businesses performing well[34] - The Australian business segment's profit contribution decreased by 4% to HKD 1.784 billion, primarily due to increased tax expenses from new capital rules, although profit would have increased by 6% without this tax impact[38] - The European business segment's profit contribution grew by 13% to HKD 670 million, driven by strong performance from ista, which set internal growth records during the year[42] - Canadian business profit contribution fell by 19% to HKD 524 million, attributed to a significant decline in Canadian Power profits and new financing regulations[43] - The profit contribution from New Zealand operations was HKD 185 million, an increase of 10% year-on-year (12% in local currency) driven by strong performance from Enviro NZ[47] - Profit contribution from Hong Kong and mainland China was HKD 132 million, up 13% from last year, with higher contributions from the concrete business in Hong Kong[48] Strategic Initiatives - The company maintains a cautious optimism regarding business prospects for 2025 amid global uncertainties and geopolitical tensions[53] - The group aims to maintain a disciplined investment approach to optimize risk-adjusted returns and generate consistent cash flow[81] - The company focuses on acquiring high-quality businesses that provide substantial recurring returns to strengthen its investment portfolio[81] - The group emphasizes internal growth and value creation within its existing business portfolio, leveraging capital allocation opportunities in energy and water networks[80] - The company promotes a corporate culture that emphasizes health, safety, creativity, diversity, and innovation among its employees[84] Sustainability and Innovation - The company is committed to eliminating coal-fired power generation by 2035, aligning with the government's carbon reduction target of a 50% decrease from 2005 levels[167] - UK Power Networks has set a target to achieve net-zero emissions by 2040, with a verified goal of reducing long-term emissions by at least 90% from a 2019 baseline year[179] - Northumbrian Water launched the UK's first smart sewer system project in 2024, utilizing AI technology and smart sensors to mitigate flooding issues, with an investment of £20 million[185] - Wales & West Gas Networks aims to reduce methane emissions by 16% by utilizing 21 biomethane gas production facilities connected to its pipeline network during the new regulatory period RIIO-GD3[193] - The NextGen Electrolysis project by Wales & West Gas Networks aims to produce green hydrogen from industrial wastewater, significantly reducing energy consumption and financial costs[194] Awards and Recognition - The company was recognized as the UK's Best Big Company to Work For and received multiple awards for its workplace culture and customer service excellence[177] - Phoenix Energy received a five-star rating and 99% score in a GRESB assessment, recognizing its environmental, social, and governance (ESG) performance[197] - Phoenix Energy was awarded the Great Place to Work certification in December 2024, acknowledging its commitment to creating an excellent work environment for employees[199]