Shangri-La Asia's FY2024 Profit Declines by 12.3%
Summary:
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Consolidated Revenue: Increased by 2.0% to USD 2,185.4 million in FY2024, up from USD 2,141.8 million in FY2023.
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Effective Share of Revenue: Decreased by 4.2% to USD 2,653.6 million, compared to USD 2,769.2 million in the previous year, primarily due to a 73.9% decline in Property Development for Sale revenue.
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Effective Share of EBITDA: Declined by 13.0% to USD 760.1 million, down from USD 873.6 million in FY2023, mainly due to an 87.9% reduction in EBITDA from Property Development for Sale and normalized operating expenses in Hotel Operations.
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Profit Attributable to Owners (Operating Items): Decreased by 10.2% to USD 115.9 million, from USD 129.0 million in the prior year, impacted by the EBITDA decline but partially offset by tax savings and net exchange gains.
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Total Profit Attributable to Owners: Fell by 12.3% to USD 161.4 million, compared to USD 184.1 million in FY2023.
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Earnings Per Share (EPS): Decreased to 4.54 US cents, down from 5.17 US cents in the previous year.
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Net Assets Attributable to Owners: Slightly declined by 0.7% to USD 5,183.5 million as of 31 December 2024, from USD 5,222.4 million a year earlier.
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Dividends: The Board recommends a final dividend of HK10 cents per share for 2024. Including the interim dividend of HK5 cents paid in October 2024, the total dividend for FY2024 is HK15 cents per share, consistent with the prior year.
Note: All data is sourced from Shangri-La Asia Limited's FY2024 Final Results Announcement.