The Hongkong and Shanghai Hotels Ltd (FRA:HSG)

Full Year 2024 Hongkong and Shanghai Hotels Ltd Earnings Call Transcript

Mar 31, 2025 / 10:59 AM GMT

Release Date Price: €0.66 (-2.94%)

Transcript

Key Points

Positve

The Hongkong and Shanghai Hotels Ltd (HKSHF) reported a significant improvement in revenue, increasing by 18% to 6.8 billion Hong Kong dollars, excluding sales proceeds from the Peninsula London residences.
The company completed the sale of seven luxury residences in London, generating total proceeds of 3.5 billion Hong Kong dollars.
The Peninsula New York underwent a comprehensive interior design refurbishment, completed on time and within budget, enhancing its appeal.
The Peak Tram experienced a 40% increase in revenue year-on-year, with visitor numbers exceeding pre-pandemic levels.
The Peninsula Tokyo achieved significant growth, returning to pre-pandemic results, driven by robust international business from the US, UK, and Hong Kong.

Negative

The Hongkong and Shanghai Hotels Ltd (HKSHF) reported a net loss for the year, largely due to depreciation and financing charges related to the Peninsula London project.
No final dividend for the year 2024 was proposed due to an underlying loss of 176 million Hong Kong dollars.
The Peninsula New York's renovation negatively affected revenue during the period of closure from January to September 2024.
The company faced a revaluation loss of investment properties amounting to 569 million Hong Kong dollars.
Geopolitical tensions and a softer retail market in Hong Kong and mainland China impacted business performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

0045.HK - Hongkong and Shanghai Hotels Ltd
Full Year 2024 Hongkong and Shanghai Hotels Ltd Earnings Call
Mar 31, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, ladies and gentlemen. Welcome to the Hong Kong and Shanghai Hotels 2024 and the results presentation. My name is Aiden, general manager corporate finance and Investor Relations.

Our result announcements were posted on the stock exchange website earlier this afternoon. Our presentation will begin by our senior management team followed by the Q&A session.

For participants joining us physically, please do hold on to your questions to the Q&A session.

For participants joining us through webcast, you're welcome to submit your questions at any point of time during the presentation by pressing the raise your hand button on the top right corner of your screen.

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