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1、1,Hopewell Holdings Limited Unaudited Interim Results six months ended 31.12.2003 26 February 2004,Presentation slides are available in ,2,Key Highlights,3,Group Results,Note: Total HHI Toll Revenue of JV for 6 months amount to RMB1,399M (last year: RMB1,144M) and the Groups attributable portion the
2、reof are not included in the Groups Turnover. Operating EBIT: include Share of JV profit * Exclude impairment and disposal loss of non-core investment $49M (Dec-02: Nil),*,4,Group Resultant Debt,Resultant Debt: 淨債務減除集團於中國項目之計息貸款,5,Group Earnings before Interest & Tax,Dec-02 Dec-03 6-month EBIT $451M
3、 $508M 13%,#,#,# Include Interest Income from China Infrastructure JV for $23M (Dec-02 $32M),6,Group Net Profit After Tax,256%,(6 months),#,# Prior period adjustment: change of SSAP 12 (deferred tax) = $179M - $3M = $176M,7,Group EBIT vs Interest,EBIT: $508M Interest: $106M,x,x,x,x,x,x,x,x,x,x,x,x,8
4、,Group Gearing Ratio,#1 Total Net Debt $0.3b vs Equity $14.1b #2 Total Net Debt $0.3b vs Total Capital $17.2b,#1,#2,Low gearing allows for project development,9,Group Return On Equity,10,Group Dividend History,#2: Special Interim Dividend of HK 30 cents/share declared in FY03/04 not shown above #1:
5、Special Dividend of HK 30 cents/share paid out in FY01/02 not shown above,#1,#2,#2,FY 2003/04 Interim Dividend HK 10 cents Special Interim Dividend HK 30 cents,11,Group Cash Flow,Regular Cash Inflow Rental Cash from Properties Operating Cash from Hotel Dividend from HHI TJB Proceeds,12,Group Project
6、s in Progress,China GZ West Superhighway Phase I (HHI) Huadu Hong Kong / Macau Nova Taipa Phase II Mega Tower Project,13, Presentation End ,14,Supplementary Info Group Results Property Hospitality HHI,15,Group Turnover,* Combined Toll Revenue = Toll Revenue of GS Superhighway and Ring Road #JVs tota
7、l, NOT Groups attributable share Financial Income includes Shareholder Loan to JV but Toll Revenue is not included under Equity accounting,Six months ended 31.12.02,HK$447M,RMB1,144M#,HK$340M,RMB1,399M#,8%,38%,29%,25%,40%,Combined*,Combined*,Not included in Group Turnover,Not included in Group Turno
8、ver,44%,8% 8%,Six months ended 31.12.03,16,Group Net Profit & Earnings before Interest & Tax,Group Net Profit,Earnings before Interest & Tax*,Six months ended,* Recurring Activities # Operating: include Share of JV profit,256%,Six months ended,17,Group Finance Cost & lnterest Income,18,Group Balance
9、 Sheet,Total Assets $19.9b,Equity $13.7b,Total Liabilities $6.2b,As at 30.6.03,As at 31.12.03,Total Assets $20.8b,Total Liabilities $6.7b,Equity $14.1b,19,Group Liquidity & Gearing,20,Group Liquidity,Strong Financial Resources Unutilised Facilities as at 31.12.03: HK$2.3b Cash on Hand as at 31.12.03
10、: HK$3.0b (of which HK$1.7b reserved for Bond Defeasance),21,Group Debt Maturity Profile (without Bond),22,Group Month-end Exchange Rate,HKD/USD Exchange Rate,HKD/RMB Exchange Rate,Data source: HSBC,Data source: HSBC,23,Property Earnings before Interest & Tax,HK$88M,HK$112M,24,HK Rental Property Ave
11、rage Occupancy,25,Hospitality Earnings before Interest & Tax,HK$23M,HK$21M,26,HHI - GS Superhighway Average Daily Toll Revenue,Jul-Dec 02 Jul-Dec 03 Avg Daily Toll Rev. RMB5,630k RMB6,880k 22%,27,HHI - ESW Ring Road Average Daily Toll Revenue,Jul-Dec 02 Jul-Dec 03 Avg Daily Toll Rev. RMB588k RMB721k 23%,28,HHI Consolidated Income Statement,Notes: (1) (Toll revenue Toll operating expenses) / Toll revenue (2) EBIT / Total revenue (3) Net profit / Total revenue (4) Net profit excluding interest income from shareholder loans,29, END ,
