Page 4 - Sphere No.11 (Apr 2004)
Basic HTML Version
C O R P O R A T E
S
PHERE
2
H U T C H I S O N U P D A T E S
News
HUTCHISONWHAMPOA LIMITED
Hutchison Whampoa Limited
(HWL), one of the largest
companies listed on the main board
of the Hong Kong Stock Exchange,
is the holding company of the Hutchison
Whampoa Group of companies. As one of the
earliest big “hongs”, or trading companies, in
Hong Kong, Hutchison’s history dates back to the
1800s. Today, HWL is a multi-national
conglomerate with businesses spanning 39
countries. With over 170,000 employees
worldwide, Hutchison operates and invests in five
core businesses: ports and related services;
telecommunications;property and hotels;retail and
manufacturing; and energy and infrastructure.
Its flagship companies include Hutchison Port
Holdings, Hutchison Telecom, Hutchison
Whampoa Properties, A.S. Watson, and Cheung
Kong Infrastructure. In 2003, HWL’s
consolidated revenue was HK$145,609 million
(US$18,668 million).
Accolades Roll in
Hutchison
had a busy year on the capital
markets in 2003 with six separate
corporate bond financing deals valued at
US$10.137 billion.These attracted much
attention – and several awards – from the
financial media.
Finance Asia
named HWL “Borrower of the
Year” and also awarded it “Best
Overall Bond Deal”,“Best Investment
Grade Bond Deal”, and “Best Country Deal
Award - Hong Kong”.
Hutchison picked up the “Asia-Pacific
Borrower of theYear 2003” title, awarded by
IFR
, along with the “Best Investment Grade
Bond” title for HWL’s US$1.5 billion 10-year
bond via
Merrill Lynch
.
Asiamoney
awarded
HWL the “Best
Corporate Bond
Deal of theYear
2003” and “Best
Overall Bond Deal
of theYear 2003” titles. Earlier,
Asiamoney
ranked Hutchison
No.4 in the category “Overall Best
Managed Company (Hong Kong)”, No.3
“Best Operational Efficiency (Hong
Kong)”, No.3 “Best Focus on Shareholder
Value (Hong Kong)”, and No.2 “Best
Financial Management (Hong Kong).
The Asset
(Dec. issue) ranked HWL “The
Best Credits in Asia - Weighted by Assets”,
“Best Issuer”,“Best Bond”, and “Best
Investment Grade”.
Hutchison was named winner in “
The Banker
Company Awards - Hong Kong” (Dec. 2003
issue) and in the magazine’s “Deals of theYear”
awards (Feb. 2004 issue).
In its
Review
200 survey of 200 Asian
companies, the
Far Eastern Economic Review
rated HWL No.3 in the “Company Leaders”
category (Hong Kong) and No.4 for “Long-
termVision (Hong Kong)”.
HWL’s
Annual Report 2002
meanwhile won
gold in
MerComm’s
“Galaxy 2003 Awards”
and Hutchison was also the recipient of “The
Hong Kong Council of Social Service Caring
Company Award 2003/04.”
HWLAnnual Results
Hutchison Whampoa Limited
recorded an audited profit
attributable to shareholders of HK$14,378 million in 2003.
Earnings per share amounted to HK$3.37 and the total dividend per
share was HK$1.73, both unchanged from the year before.
The results included a net profit on disposal of investments and
provisions of HK$8,893 million, primarily relating to profits on the
disposal of the Group’s European water businesses and its remaining
holdings in
Vodafone Group
and
Deutsche Telekom
of
HK$1,683 million and HK$2,627 million respectively, a release of
provisions of HK$7,810 million, partially offset by a full write-off of
the Group’s HK$3,111 million investment in
Global Crossing
and
other charges of HK$116 million. Excluding exceptional profits and
3G start-up losses in both years, profit attributable to shareholders
increased 25%.
Turnover for the year totalled HK$145,609 million, an increase of
31% over last year, mainly due to additional turnover contributed by
the
Kruidvat Group
acquired in October 2002, higher commodity
prices for
Husky Energy
, and increased container throughput.The
telecoms businesses reported combined turnover of HK$17.5 billion.
2G operations surpassed 10 million customers worldwide, an increase
of 64% while the 3G businesses contributed their first revenue and
signed up more than one million customers.
With the exception of the start-up 3G operations, all of the Group’s
operating business divisions reported EBIT ahead of last year.
Excluding 3G start-up losses and exceptional profits, EBIT was 21%
higher than last year.
For full results see:
/
investor/annual/annual.htm
2003 (HK$)
145,609 million
14,378 million
3.37
1.73
2002 (HK$)
111,129 million
14,362 million
3.37
1.73
$
$
$
Turnover
Profit attributable
to shareholders
Earnings per share
Total dividend
per share
$
T
PORTS
TELECOMS (2G)
PROPERTY
& HOTELS
RETAIL &
MANUFACTURING
ENERGY &
INFRASTRUCTURE
TELECOMS (3G)
23,129
15,471
2,023
11,224
63,086
30,676
12
16
N/A
(4)
60
18
7,597
1,195
(11,939)*
3,121
2,305
15,317
15
23
N/A
21
124
15
Turnover
(HK$ millions)
% change EBIT
(HK$ millions)
% change
Performance
by Division
* Before amortisation and depreciation
