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CK Infrastructure Holdings (1038) investor relations material
CK Infrastructure Holdings H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Profit attributable to shareholders rose 1% year-over-year to HK$4,348 million in H1 2025, reflecting steady performance amid geopolitical and economic uncertainties.
Interim dividend per share increased by 1.4% to HK$0.73, continuing a long record of sustainable dividend growth.
Maintained a strong financial position with cash on hand of HK$4,721 million and net debt to net total capital ratio of 10.6%.
Ongoing focus on organic growth, strategic acquisitions, and a robust M&A pipeline, with a major divestment of UK Rails expected to further reduce leverage.
International businesses, especially in the UK, delivered strong performances, notably Northumbrian Water and UK gas networks.
Financial highlights
Turnover for H1 2025 was HK$20,359 million, up from HK$19,090 million in H1 2024.
Earnings per share increased to HK$1.73 from HK$1.71 year-over-year.
Profit attributable to shareholders was HK$4,348 million, up 1% year-over-year.
Cash on hand as of June 30, 2025, was HK$4,721 million, with total equity at HK$135,235 million.
Treasury-related activities saw a loss of HK$429 million due to lower exchange gains and higher net finance costs.
Outlook and guidance
Regulated businesses anticipate solid asset base growth, with nine of 13 businesses facing regulatory resets between 2025-26.
Expects continued resilience amid global volatility, supported by robust recurring income and predictable cash flows.
Focus remains on balancing stability and growth, leveraging a strong balance sheet for expansion and disciplined investment.
M&A opportunities are promising, with a robust pipeline and a "buyer's market" environment expected to yield quality acquisitions.
Anticipates further reduction in net debt following the completion of the UK Rails divestment.
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