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23 Apr 2025
HPH Trust CFO Presentation Highlights Strong 2024 Financial Results and Throughput Growth
Summary:
- HPH Trust's ports experienced a 5% increase in throughput in 2024 compared to the previous year.
- YICT's throughput saw a significant 12% year-over-year increase.
- The combined throughput of HIT, COSCO-HIT, and ACT was 6% lower than the previous year.
- Outbound cargoes to the US and Europe increased substantially by 14% and 12% respectively.
- Net Profit After Tax (NPAT) for 2024 was HK$2,173.2 million, a 47% increase year-over-year.
- NPAT attributable to unitholders rose by 178% to HK$650.0 million compared to the previous year.
- The Distribution Per Unit (DPU) for 2024 was 12.20 HK cents.
- Chinese exports to the US and Europe continued their upward trend in the first quarter of 2025.
- New shipping alliances, Gemini Cooperation and Premier Alliance, which became effective in February 2025, are expected to potentially benefit Yantian.
- HPH Trust refinanced a US$500 million club loan with guaranteed notes at a 5.0% coupon rate in February 2025.
- The company is committed to reducing its overall emissions intensity by 30% between 2021 and 2030.
- Revenue and other income saw a 9% increase year-over-year.
- Total capital expenditure decreased by 24% year-over-year.
- The distribution yield for 2024 was 9.5%, based on the market price on December 31, 2024.