Swire Pacific 2019 Highlights - Transcript

Swire Pacific 2019 Highlights

  • Solid results in the first half
  • Performance affected by social unrest in Hong Kong in the second half
  • Underlying profit: HK$17,797 million (+109%)
  • Recurring underlying profit: HK$7,221 million (-4%)
  • Dividend per ‘A’ share: HK$3.00
  • Dividend per ‘A’ share: Same level as 2018
  • Net assets employed: HK$381,557 million
  • Gearing ratio: 14.2 %



  • Disposal of Cityplaza Three and Four and 625 King’s Road
  • Sucessfully tendered for Wong Chuk Hang residential project with two J/V partners
  • Satisfactory growth in Hong Kong office
  • Strong growth in retail sales in Mainland China
  • HKRI Taikoo Hui, Shanghai: +73%
  • INDIGO, Beijing: +26%
  • Sino-Ocean Taikoo Li Chengdu: +23%
  • Taikoo Hui, Guangzhou: +20%
  • Taikoo Li Sanlitun, Beijing: +11%
  • Retail sales in Hong Kong affected by social unrest
  • Brickell City Centre
    - Firm demand for office
    - Steady growth in retail sales



  • Results adversely affected by social unrest in Hong Kong and global trade tensions
  • Passengers carried: 35.2 million (-0.7%)
  • Cargo carried: 2.0 million tonnes (-6%)  
  • Acquisition of HK Express completed
  • Continued to invest in enhancing customer experience
  • Newly renovated lounge in Shanghai Pudong International Airport
  • Enhancements in first and business class products and services
  • Transformation programme has left the business leaner and more resilient
  • Solid results in HAECO Hong Kong and HAECO Xiamen
  • Strong performance in HAESL
  • Reduced losses at HAECO Americas



  • Revenue continued to grow faster than volume
  • Total revenue*: HK$44,719 million (+5%)
    *including that of a joint venture company and excluding sales to other bottlers
  • Total sales volume: 1,786 million unit cases (+2%)
  • Total franchise population: 736 million
  • Strong performance in Mainland China
    - Revenue*: +8%
    - Sales volume: +2%
    *including that of a joint venture company and excluding sales to other bottlers
  • Stable performance in the USA
    - Revenue*: +9%
    - Sales volume: +2%
    *excluding sales to other bottlers



  • Swire Pacific Offshore
  • Offshore industry conditions remained difficult



  • Stable performance at Taikoo Motors
  • Swire Resources’ performance adversely affected by social unrest



  • Donated HK$36 million for charitable purposes and scholarships
  • Launched diversity & inclusion policy
  • Listed on various sustainability indices