Swire Pacific Ltd A (SWRAF) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. Welcome to Swire Pacific 2023 Annual Results Analyst Briefing. Joining us at the briefing today are Mr. Guy Bradley, Chairman of Swire Pacific, Mr. Martin Moray, Finance Director of Swire Pacific, and Ms. Karen So, Managing Director of Swire Coca-Cola. Before we take a detailed look at our annual results for 2023, we would love to show you a short video highlighting Swire Pacific's key developments and achievements in 2023. Enjoy the video. Thank you. ... ... May we now invite Guy, Martin and Karen to take us through the details of the annual results of 2023. Good evening and thank you for joining us. I think we'll get straight into it. Look, it was a great set of results, first thing to say. Obviously helped by well, we hit a record underlying profit at $36.2 billion, and that does include the $22.9 billion gain from the sale of Swag Coca-Cola USA and the contribution from the agreements to sell 12 floors at One Island East, which are two extremely satisfactory deals that got done last year. This chart just shows the level of deal activity at the underlying profit level. In properties, you heard an hour ago that they've now committed almost 60% of the $100 billion plan to the core markets of Swire Properties, and that's a tremendous achievement in what's just about two years since they announced that plan. Beverages had a great year. You can see they completed at the start of the year the acquisition of the franchise territory in Vietnam, having just finished Cambodia just before the start of 2023. They then restructured the still beverages business in the mainland China market. As I mentioned, we disposed of the Swire Coca-Cola USA business. And then very recently, on the back of that disposal, we've conditionally agreed to acq...