Cash flow CLP Holdings Limited

Equities

2 HK0002007356

Electric Utilities

Market Closed - Hong Kong S.E. Other stock markets 09:08:58 10/09/2024 BST			5-day change	1st Jan Change
70.05 ^HKD	+0.65%		+2.26%	+8.69%

08-05	CLP Holdings' H1 Profit, Revenue Increase	MT
08-05	Transcript : CLP Holdings Limited, H1 2024 Earnings Call, Aug 05, 2024

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Published financial data: CLP HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	85.69B	79.59B	83.96B	101B	87.17B
Total Revenues	85.69B	79.59B	83.96B	101B	87.17B
Fuel & Purchased Power	59.01B	51.55B	57.33B	81.81B	58.64B
Depreciation & Amortization - (IS) - (Collected)	8.12B	8.48B	9.31B	8.9B	8.59B
Other Operating Expenses	4.54B	4.84B	5.11B	4.67B	4.75B
Total Operating Expenses	71.66B	64.87B	71.75B	95.38B	71.98B
Operating Income (REIT / Utility Template)	14.03B	14.72B	12.21B	5.28B	15.18B
Interest Expense, Total	-1.74B	-1.62B	-1.38B	-1.69B	-1.83B
Interest and Investment Income	162M	136M	108M	243M	270M
Net Interest Expenses	-1.57B	-1.49B	-1.28B	-1.45B	-1.56B
Income (Loss) on Equity Invest.	2.71B	2.52B	1.97B	2.46B	3.2B
Currency Exchange Gains (Loss)	55M	-247M	175M	296M	83M
Other Non Operating Income (Expenses)	-302M	-1M	-536M	-692M	-393M
EBT, Excl. Unusual Items	14.92B	15.5B	12.55B	5.9B	16.51B
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-6.38B	-	-	-	-5.87B
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-4.31B	-
Legal Settlements	-	-	-1.11B	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	8.54B	15.5B	11.44B	1.59B	10.64B
Income Tax Expense	2.79B	2.99B	1.96B	103M	2.97B
Earnings From Continuing Operations	5.75B	12.51B	9.47B	1.49B	7.67B
Net Income to Company	5.75B	12.51B	9.47B	1.49B	7.67B
Minority Interest	-885M	-914M	-845M	-424M	-876M
Net Income - (IS)	4.87B	11.59B	8.63B	1.06B	6.79B
Preferred Dividend and Other Adjustments	212M	138M	138M	139M	139M
Net Income to Common Incl Extra Items	4.66B	11.46B	8.49B	924M	6.66B
Net Income to Common Excl. Extra Items	4.66B	11.46B	8.49B	924M	6.66B
Per Share Items
Net EPS - Basic	1.84	4.53	3.36	0.37	2.63
Basic EPS - Continuing Operations	1.84	4.53	3.36	0.37	2.63
Basic Weighted Average Shares Outstanding	2.53B	2.53B	2.53B	2.53B	2.53B
Net EPS - Diluted	1.84	4.53	3.36	0.37	2.63
Diluted EPS - Continuing Operations	1.84	4.53	3.36	0.37	2.63
Diluted Weighted Average Shares Outstanding	2.53B	2.53B	2.53B	2.53B	2.53B
Normalized Basic EPS	3.34	3.47	2.77	1.29	3.74
Normalized Diluted EPS	3.34	3.47	2.77	1.29	3.74
Dividend Per Share	3.08	3.1	3.1	3.1	3.1
Payout Ratio	159.83	67.12	90.76	736.78	115.28
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
Utility Revenues	81B	75.96B	78.88B	94.68B	85.03B
Non Utility Revenues	4.68B	3.63B	5.08B	5.98B	2.14B
EBITDA	21.85B	22.84B	21.18B	13.84B	23.4B
EBITA	15.04B	15.64B	13.03B	5.99B	15.83B
EBIT	14.03B	14.72B	12.21B	5.28B	15.18B
EBITDAR	21.92B	22.85B	21.19B	13.86B	23.44B
Effective Tax Rate - (Ratio)	32.63	19.31	17.18	6.48	27.93
Total Current Taxes	2.19B	2.53B	1.72B	1.65B	1.71B
Total Deferred Taxes	598M	464M	245M	-1.55B	1.26B
Normalized Net Income	8.44B	8.77B	7B	3.26B	9.44B
Interest Capitalized	323M	306M	317M	466M	614M
Interest on Long-Term Debt	16M	37M	57M	47M	49M
Supplemental Operating Expense Items
Net Rental Expense, Total	67M	10M	15M	21M	43M
Imputed Operating Lease Interest Expense	19.5M	2.73M	3.41M	5.92M	13.96M
Imputed Operating Lease Depreciation	47.5M	7.27M	11.59M	15.08M	29.04M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	7.88B	10.16B	7.9B	4.25B	5.18B
Short Term Investments - (Utility / Insurance Templates)	3.15B	3.89B	3.75B	7.3B	2.86B
Accounts Receivable, Total	10.79B	10.87B	11.71B	10.5B	11.85B
Other Receivables	80M	139M	1.71B	311M	38M
Accounts Receivable (Summary Subtotal)	10.87B	11.01B	13.42B	10.82B	11.89B
Inventory - (Utility Template)	2.51B	2.87B	2.94B	3.7B	3.33B
Notes Receivable (Collected)	130M	135M	6M	-	60M
Restricted Cash	279M	536M	299M	33M	16M
Other Current Assets, Total	4.01B	4.79B	5.57B	8.36B	3.6B
Total Current Assets	28.83B	33.39B	33.89B	34.46B	26.93B
Gross Property Plant And Equipment	262B	276B	287B	279B	291B
Accumulated Depreciation	-112B	-120B	-126B	-124B	-130B
Net Property Plant And Equipment	150B	156B	161B	155B	161B
Goodwill	14.13B	14.95B	14.49B	13.89B	8.07B
Other Intangibles, Total	5.98B	5.61B	5.22B	4.56B	4.78B
Long-Term Investments - (Utility Template)	19B	20.04B	19.16B	19.95B	20.78B
Accounts Receivable Long-Term	-	-	-	-	-
Loans Receivable Long-Term - (Utility Template)	284M	722M	1.13B	1.87B	2.05B
Deferred Tax Assets Long-Term (Collected)	524M	571M	376M	2.13B	2.04B
Deferred Charges Long-Term	136M	154M	180M	220M	265M
Other Long-Term Assets, Total	3.08B	3.28B	4.18B	4.1B	3.35B
Total Assets	222B	234B	240B	236B	229B
Liabilities
Accounts Payable, Total	5.85B	6.08B	6.12B	6.51B	6.53B
Short-Term Borrowings	1.34B	1.02B	832M	860M	589M
Current Portion of Long-Term Debt	13.55B	8.75B	10.51B	11.31B	12.57B
Current Portion of Leases	99M	219M	217M	229M	200M
Current Income Taxes Payable	1.52B	1.7B	1.35B	1.58B	1.06B
Unearned Revenue, Current	3.08B	3.1B	3.14B	2.8B	2.29B
Other Current Liabilities - (Bank / Utility Template)	15.01B	15.14B	15.62B	21.17B	19.24B
Total Current Liabilities	40.46B	36.01B	37.8B	44.46B	42.48B
Long-Term Debt	39.78B	47B	48.84B	47.9B	44.94B
Long-Term Leases	208M	1.19B	952M	726M	1.02B
Unearned Revenue Non Current	1.3B	1.43B	1.46B	1.47B	1.46B
Deferred Tax Liability Non-Current	15.12B	15.43B	15.89B	16.25B	16.75B
Other Non Current Liabilities, Total	5.43B	7.2B	8.17B	9.52B	10.02B
Total Liabilities	102B	108B	113B	120B	117B
Common Stock, Total	23.24B	23.24B	23.24B	23.24B	23.24B
Retained Earnings	88.08B	91.75B	92.51B	85.1B	84.22B
Comprehensive Income and Other	-1.98B	1.1B	1.16B	1.04B	-1.24B
Total Common Equity	109B	116B	117B	109B	106B
Minority Interest	9.99B	9.88B	9.79B	6.31B	6.16B
Total Equity	119B	126B	127B	116B	112B
Total Liabilities And Equity	222B	234B	240B	236B	229B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.53B	2.53B	2.53B	2.53B	2.53B
ECS Total Common Shares Outstanding	2.53B	2.53B	2.53B	2.53B	2.53B
Book Value / Share	41.74	44.41	44.74	41.76	40.5
Tangible Book Value	89.23B	95.53B	97.21B	90.93B	93.36B
Tangible Book Value Per Share	33.78	36.27	36.94	34.45	35.42
Total Debt	54.99B	58.18B	61.35B	61.03B	59.33B
Net Debt	43.96B	44.13B	49.7B	49.48B	51.29B
Debt Equivalent Oper. Leases	536M	80M	120M	168M	344M
Minority Interest, Total (Incl. Fin. Div)	9.99B	9.88B	9.79B	6.31B	6.16B
Equity Method Investments, Total	18.42B	19.48B	18.24B	18.97B	19.85B
Account Code - Inventory Valuation	6	6	6	6	6
Land - (BS)	1.28B	1.25B	1.22B	374M	376M
Buildings, Total	35.1B	36.57B	37.8B	38.09B	39.36B
Machinery, Total	219B	231B	241B	233B	243B
Full Time Employees	7K	7.09K	7.06K	7.15K	6.84K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	1.58B	1.6B	1.46B	852M	836M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	8.54B	11.59B	8.63B	1.06B	6.79B
Depreciation, Depletion & Amortization	7.11B	7.55B	8.48B	8.2B	7.94B
Amortization of Goodwill and Intangible Assets - (CF)	1.01B	928M	823M	705M	649M
Total Depreciation, Depletion & Amortization	8.12B	8.48B	9.31B	8.9B	8.59B
(Gain) Loss On Sale of Asset - (CF)	424M	358M	0	4.55B	393M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	198M	164M
Total Asset Writedown	6.47B	201M	364M	242M	5.99B
(Income) Loss On Equity Investments - (CF)	-2.73B	-2.54B	-1.99B	-2.47B	-3.21B
Provision and Write-off of Bad Debts	383M	511M	244M	255M	246M
Change in Accounts Receivable	341M	-144M	-2.35B	-4.75B	1.84B
Change In Inventories	-	-	-	-	375M
Change in Accounts Payable	-725M	535M	128M	1.4B	-397M
Change in Other Net Operating Assets (Collected)	16M	522M	2.32B	2.28B	-1.17B
Other Operating Activities	502M	2.86B	1.42B	1.07B	3.95B
Cash from Operations	21.34B	22.37B	18.08B	12.73B	23.57B
Capital Expenditure	-10.76B	-10.91B	-13.07B	-15.3B	-12.38B
Sale of Property, Plant, and Equipment	45M	220M	104M	49M	51M
Cash Acquisitions	-130M	-196M	-698M	-	-
Divestitures	-	-	362M	-1.24B	-
Purchase / Sale of Intangible Assets	-775M	-451M	-512M	-330M	-796M
Investment in Marketable and Equity Securities, Total	3.67B	-1.08B	528M	-896M	1.28B
Other Investing Activities, Total	2.12B	2.33B	1.46B	2.34B	2.37B
Cash from Investing	-5.82B	-10.08B	-11.82B	-15.38B	-9.47B
Short Term Debt Issued, Total	-	-	314M	2.98B	-
Long-Term Debt Issued, Total	6.41B	14B	7.8B	20.12B	5.74B
Total Debt Issued	6.41B	14B	8.11B	23.11B	5.74B
Short Term Debt Repaid, Total	-1.15B	-1.28B	-189M	-	-1.84B
Long-Term Debt Repaid, Total	-8.92B	-12.51B	-5.6B	-13.04B	-6.16B
Total Debt Repaid	-10.07B	-13.79B	-5.79B	-13.04B	-8.01B
Common Dividends Paid	-7.78B	-7.78B	-7.83B	-7.83B	-7.83B
Common & Preferred Stock Dividends Paid	-7.78B	-7.78B	-7.83B	-7.83B	-7.83B
Other Financing Activities, Total	-3.5B	-2.64B	-2.97B	-3.22B	-3.05B
Cash from Financing	-14.94B	-10.21B	-8.48B	-987M	-13.14B
Foreign Exchange Rate Adjustments	-61M	195M	-30M	-313M	-22M
Net Change in Cash	516M	2.28B	-2.26B	-3.95B	931M
Supplemental Items
Cash Interest Paid	1.77B	1.82B	1.58B	1.85B	1.6B
Cash Income Tax Paid (Refund)	2.32B	2.18B	2.52B	974M	2.22B
Net Debt Issued / Repaid	-3.66B	213M	2.32B	10.06B	-2.26B
Levered Free Cash Flow	4.76B	4.3B	-41.5M	373M	4.84B
Unlevered Free Cash Flow	5.85B	5.32B	823M	1.43B	5.98B
Change In Net Working Capital	-492M	992M	2.54B	-4.85B	-1.07B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.88	4.04	3.22	1.39	4.08
Return on Total Capital	4.91	5.13	4.1	1.81	5.45
Return On Equity %	4.71	10.2	7.5	1.23	6.73
Return on Common Equity	4.15	10.16	7.29	0.82	6.17
Margin Analysis
Gross Profit Margin %	31.14	35.23	31.71	18.73	32.73
SG&A Margin	5.29	6.09	6.08	4.64	5.45
EBITDA Margin %	25.5	28.7	25.22	13.74	26.85
EBITA Margin %	17.55	19.66	15.52	5.95	18.16
EBIT Margin %	16.37	18.49	14.54	5.25	17.42
Income From Continuing Operations Margin %	6.71	15.72	11.28	1.48	8.8
Net Income Margin %	5.68	14.57	10.28	1.06	7.79
Net Avail. For Common Margin %	5.43	14.39	10.11	0.92	7.63
Normalized Net Income Margin	9.85	11.02	8.34	3.24	10.83
Levered Free Cash Flow Margin	5.56	5.41	-0.05	0.37	5.55
Unlevered Free Cash Flow Margin	6.83	6.68	0.98	1.42	6.87
Asset Turnover
Asset Turnover	0.38	0.35	0.35	0.42	0.37
Fixed Assets Turnover	0.59	0.52	0.53	0.64	0.55
Receivables Turnover (Average Receivables)	7.78	7.35	7.44	9.06	7.8
Inventory Turnover (Average Inventory)	22.06	19.16	19.73	24.65	16.7
Short Term Liquidity
Current Ratio	0.71	0.93	0.9	0.78	0.63
Quick Ratio	0.54	0.7	0.66	0.5	0.47
Operating Cash Flow to Current Liabilities	0.53