Hongkong & Shanghai Hotels Ltd. · HKEX:45

Hongkong & Shanghai Hotels — The Hongkong and Shanghai Hotels — H1 2022 Earnings Presentation

13 slides from Hongkong & Shanghai Hotels's earnings presentation, Aug 5, 2022

  1. Slide 1: The Hongkong and Shanghai Hotels 2022 Interim Results

    The Hongkong and Shanghai Hotels 2022 Interim Results 5 August 2022

  2. Slide 2: Disclaimer

    Disclaimer This presentation (“Presentation”) is made available by The Hongkong and Shanghai Hotels, Limited (“HSH”) for general purposes only. Nothing contained in this Presentation is intended to constitute a public offer under any legislation or an invitation or inducement to engage in any invest

  3. Slide 3: 1H 2022 Review

    1H 2022 Review  First half seen some positive momentum but business results heavily affected by Covid situation  Hong Kong and mainland China suffered from further COVID-19 travel restrictions  Strong recovery in the US and Paris, with record high rates  Achieved 1st positive Operating Cashflow

  4. Slide 4: Modest recovery in 1H 2022

    Modest recovery in 1H 2022 (HK$ million) Six months ended 30 June 2022 2021 Change  Strong hotel rebound in the US and Paris Revenue 1,662 1,264 31% (Record high ADR vs 2019) Operating costs (1,553) (1,232) -26%  EBITDA HK$65m and Profit After Tax saw EBITDA before pre-opening and project expenses

  5. Slide 5: Contribution by division (combined basis)

    Contribution by division (combined basis) 2021 Revenue 2022 Revenue HK$’m 1,800 +41% 1,500 1,378 1,200 974 900 600 -3% 345 333 +22% 300 101 123 0 Hotels Commercial Properties Clubs and Services -300 HK$’m EBITDA 13m 158m -41m (1) Combined revenue and EBITDA including effective share of JV and Associ

  6. Slide 6: Cash flow summary

    Cash flow summary (HK$ million) Six months ended 30 June 2022 2021 Operating EBITDA (before pre-opening and project expenses) 109 32 Pre-opening and project expenses (44) (26) Operating EBITDA after pre-opening and project expenses 65 6 Tax paid (13) (18) Changes in working capital 24 17 Operating c

  7. Slide 7: Capital structure and balance sheet

    Capital structure and balance sheet Credit metrics Balance sheet Financing arranged in 2022 (HK$ million) As at As at 1.7% 30-Jun-22 31-Dec-21 HK$1.6bn equivalent Weighted average gross interest rate Of refinancing, with HK$1bn equivalent 20bp from Dec 2021 Total cash 657 479 arranged as sustainabil

  8. Slide 8: The Peninsula Hotels

    The Peninsula Hotels 8 August 2022

  9. Slide 9: Commercial Properties

    Commercial Properties 9 August 2022

  10. Slide 10: Clubs & Services

    Clubs & Services 10 August 2022

  11. Slide 11: Project update

    Project update 11 August 2022

  12. Slide 12: Outlook

    Outlook  Outlook remains of concern  Expect to continue to see a continued recovery in the US and Paris  Hong Kong outlook remains uncertain, important for the HK government to maintain the city’s status as an international financial and tourism center, and to relax travel restrictions as soon as

  13. Slide 13: Q&A

    Q&A 13 August 2022

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