CK Asset Holdings (1113) H1 2024 earnings summary

Executive summary

• Profit attributable to shareholders for H1 2024 was HK$8,603 million, down 15.3% year-over-year; EPS was HK$2.44, down from HK$2.88.

• Interim dividend declared at HK$0.39 per share, a 9.3% decrease from last year.

• The group maintained resilience through prudent investment, share buybacks, and diversification into infrastructure and renewables.

• Major investments in renewable energy and social infrastructure enhanced portfolio diversification.

• Share buybacks totaling over HK$1.5 billion in H1 2024 reflect confidence in future growth.

Financial highlights

• Group revenue for H1 2024 was HK$22,008 million, down from HK$24,605 million year-over-year.

• Group revenue (including JVs) was HK$34,727 million, down from HK$36,516 million year-over-year.

• Profit before investment property revaluation was HK$6,726 million, a 9.5% decrease year-over-year.

• Interim dividend of HK$0.39 per share, totaling HK$1,365 million.

• Infrastructure and utility asset operation revenue (JVs) increased to HK$12,576 million (from HK$11,740 million).

Outlook and guidance

• The group expects continued global economic challenges due to geopolitical tensions, high interest rates, and divergent monetary policies.

• Plans to pursue long-term growth and enhance shareholder value through global investments in quality assets and sustainability initiatives.

• Hong Kong and Mainland China property markets remain sensitive to policy and interest rate movements.