Shangri-La Asia (69) H1 2025 earnings summary

Executive summary

• Consolidated profit attributable to owners before non-operating items was USD50.9 million, down 13.9% year-over-year; after non-operating items, profit was USD57.9 million, down 38.7%.

• Revenue rose 0.7% to USD1,056.1 million, driven by investment properties, offset by lower hotel property revenue.

• Interim dividend of HK5 cents per share declared, unchanged from last year.

• Launch of new brand 'Shangri-La Signatures' and continued expansion in key markets.

Financial highlights

• Effective share of revenue decreased 0.8% to USD1,262.5 million; effective share of EBITDA fell 3.1% to USD369.5 million.

• Earnings per share dropped 38.7% to 1.63 US cents.

• Net assets per share increased 1.4% to USD1.48 as of 30 June 2025; net assets attributable to owners rose 1.4% to USD5,256.1 million.

• Gross margin improved slightly to 55.9% from 55.4% year-over-year.

Outlook and guidance

• Operational cash flow remained steady at USD60 million, supporting continued dividend payments.

• Focus remains on selective investments, enhancing guest experience, and maintaining financial discipline.

• Anticipates further portfolio growth with new hotel openings in Kunming and Hongqiao in 2H 2025.