Cash flow Lai Sun Development Company Limited

Equities

488 HK0000356821

Real Estate Development & Operations

Market Closed - Hong Kong S.E. Other stock markets 09:08:11 19/09/2024 BST			5-day change	1st Jan Change
0.5700 ^HKD	-1.72%		+3.64%	-32.94%

07-03	Lai Sun Development JV to Offload Hong Kong Property for HK$540 Million	MT
06-24	Lai Sun Garment Shareholders to Vote July 12 on Proposed Sale by Unit Lai Sun Development	MT

7a242e9d26e.6jJEAc5FepO2EJ7tXmMc0Oc7CgOhkbqPtbeAFXD6lhk.o0EhYpErN-vAXf2nGixbmN56PGrU0ojQ1vXSXBGJw3zdBAVv-AlMx_Ii2w

Published financial data: LAI SUN DEVELOPMENT COMPANY LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: July	2019	2020	2021	2022	2023
Revenues	6.49B	5.21B	5.99B	5.09B	4.9B
Total Revenues	6.49B	5.21B	5.99B	5.09B	4.9B
Cost of Goods Sold, Total	4.19B	3.61B	4.68B	3.51B	4.18B
Gross Profit	2.31B	1.61B	1.31B	1.59B	726M
Selling General & Admin Expenses, Total	1.45B	1.15B	1.15B	1.12B	1.21B
Other Operating Expenses	587M	1.07B	1.16B	1.48B	1.01B
Other Operating Expenses, Total	2.04B	2.22B	2.31B	2.6B	2.22B
Operating Income	265M	-612M	-1.01B	-1.01B	-1.5B
Interest Expense, Total	-406M	-641M	-698M	-794M	-1.04B
Interest And Investment Income	113M	89.04M	133M	176M	226M
Net Interest Expenses	-293M	-552M	-565M	-618M	-818M
Income (Loss) On Equity Invest.	676M	-441M	-453M	-40M	-11.36M
Currency Exchange Gains (Loss)	53.21M	7.75M	21.42M	-164M	-6.49M
Other Non Operating Income (Expenses)	-68.46M	-57.52M	-69.8M	-82.12M	-128M
EBT, Excl. Unusual Items	634M	-1.65B	-2.08B	-1.92B	-2.46B
Merger & Related Restructuring Charges	-14M	-1.38M	-	-	-
Impairment of Goodwill	-	-1.32M	-	-36.1M	-
Gain (Loss) On Sale Of Investments	-2.93B	212M	100M	-	-17.27M
Gain (Loss) On Sale Of Assets	1.32M	-589M	-23.31M	-158K	967K
Asset Writedown	533M	-2.16B	-591M	-235M	-1.03B
Other Unusual Items	6.67B	93.92M	189M	128M	10.23M
EBT, Incl. Unusual Items	4.89B	-4.1B	-2.4B	-2.06B	-3.49B
Income Tax Expense	159M	-90.02M	256M	263M	-59.23M
Earnings From Continuing Operations	4.73B	-4.01B	-2.66B	-2.32B	-3.43B
Net Income to Company	4.73B	-4.01B	-2.66B	-2.32B	-3.43B
Minority Interest	110M	1.08B	569M	357M	469M
Net Income - (IS)	4.84B	-2.93B	-2.09B	-1.97B	-2.97B
Net Income to Common Incl Extra Items	4.84B	-2.93B	-2.09B	-1.97B	-2.97B
Net Income to Common Excl. Extra Items	4.84B	-2.93B	-2.09B	-1.97B	-2.97B
Per Share Items
Net EPS - Basic	7.99	-4.82	-3.03	-2.13	-2.45
Basic EPS - Continuing Operations	7.99	-4.82	-3.03	-2.13	-2.45
Basic Weighted Average Shares Outstanding	606M	608M	688M	922M	1.21B
Net EPS - Diluted	7.96	-4.82	-3.03	-2.13	-2.45
Diluted EPS - Continuing Operations	7.96	-4.82	-3.03	-2.13	-2.45
Diluted Weighted Average Shares Outstanding	609M	608M	688M	922M	1.21B
Normalized Basic EPS	0.83	0.07	-1.06	-0.91	-0.88
Normalized Diluted EPS	0.83	0.07	-1.06	-0.91	-0.88
Dividend Per Share	0.11	-	-	-	-
Payout Ratio	1.25	-0.9	-	-	-
American Depositary Receipts Ratio (ADR)	8	8	8	8	8
Supplemental Items
EBITDA	663M	-119M	-518M	-533M	-1.09B
EBITA	266M	-611M	-1.01B	-1.01B	-1.49B
EBIT	265M	-612M	-1.01B	-1.01B	-1.5B
EBITDAR	1.06B	-94.31M	-496M	-508M	-1.01B
Effective Tax Rate - (Ratio)	3.26	2.19	-10.65	-12.75	1.7
Total Current Taxes	283M	275M	398M	484M	340M
Total Deferred Taxes	-124M	-365M	-142M	-221M	-399M
Normalized Net Income	506M	43.95M	-728M	-841M	-1.07B
Interest Capitalized	455M	331M	200M	322M	413M
Interest on Long-Term Debt	314M	373M	374M	575M	365M
Supplemental Operating Expense Items
Selling and Marketing Expenses	187M	188M	272M	254M	241M
General and Administrative Expenses	970M	954M	876M	852M	921M
Net Rental Expense, Total	401M	24.23M	21.75M	24.95M	79.59M
Imputed Operating Lease Interest Expense	176M	8.79M	6.04M	7.78M	33.07M
Imputed Operating Lease Depreciation	225M	15.44M	15.71M	17.17M	46.51M
Stock-Based Comp., Other (Total)	2.32M	3.92M	1.68M	1.87M	-
Total Stock-Based Compensation	2.32M	3.92M	1.68M	1.87M	-

Fiscal Period: July	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	3.72B	4.16B	8.28B	5.06B	3.68B
Short Term Investments	1.08B	906M	954M	767M	785M
Trading Asset Securities, Total	230M	153M	183M	120M	95.26M
Total Cash And Short Term Investments	5.04B	5.22B	9.42B	5.94B	4.56B
Accounts Receivable, Total	300M	305M	341M	403M	350M
Other Receivables	-	-	-	-	-
Total Receivables	300M	305M	341M	403M	350M
Inventory	6.55B	10.15B	9.71B	11.8B	10.1B
Prepaid Expenses	42.03M	42.23M	53.1M	140M	162M
Restricted Cash	1.45B	1.12B	1.95B	2.08B	818M
Other Current Assets, Total	143M	787M	325M	390M	419M
Total Current Assets	13.52B	17.63B	21.8B	20.76B	16.41B
Gross Property Plant And Equipment	11.33B	14.4B	14.97B	14.56B	13.92B
Accumulated Depreciation	-993M	-1.45B	-2.2B	-2.99B	-3.43B
Net Property Plant And Equipment	10.34B	12.95B	12.77B	11.57B	10.49B
Long-term Investments	10.31B	9.76B	10.07B	9.68B	9.72B
Goodwill	227M	272M	274M	208M	222M
Other Intangibles, Total	139M	158M	166M	152M	134M
Accounts Receivable Long-Term	-	-	527M	494M	478M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	39.37M	4.26M	2.15M	2.12M	1.86M
Other Long-Term Assets, Total	44.05B	36.34B	37.42B	38.03B	36.52B
Total Assets	78.63B	77.12B	83.04B	80.9B	73.97B
Liabilities
Accounts Payable, Total	1.02B	414M	491M	613M	394M
Current Portion of Long-Term Debt	4.32B	8.08B	3.15B	7.44B	6.04B
Current Portion of Leases	-	281M	284M	275M	245M
Current Income Taxes Payable	298M	440M	545M	565M	497M
Unearned Revenue Current, Total	1.14B	507M	1.07B	678M	942M
Other Current Liabilities	2.7B	3.57B	3.31B	2.93B	3.01B
Total Current Liabilities	9.48B	13.29B	8.85B	12.5B	11.12B
Long-Term Debt	14.99B	14.09B	23.63B	20.4B	19.89B
Long-Term Leases	-	1.09B	1.1B	975M	839M
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non Current	5.47B	5.01B	5.26B	4.87B	4.15B
Other Non Current Liabilities	329M	188M	1.21B	1.17B	1.1B
Total Liabilities	30.27B	33.67B	40.05B	39.91B	37.11B
Common Stock, Total	4.08B	4.13B	4.13B	5.46B	6.24B
Retained Earnings	30.58B	27.59B	25.5B	23.54B	20.63B
Comprehensive Income and Other	1.16B	3.26B	4.52B	3.79B	2.92B
Total Common Equity	35.83B	34.97B	34.15B	32.79B	29.78B
Minority Interest	12.53B	8.48B	8.84B	8.19B	7.08B
Total Equity	48.35B	43.45B	42.98B	40.99B	36.86B
Total Liabilities And Equity	78.63B	77.12B	83.04B	80.9B	73.97B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	606M	611M	969M	969M	1.45B
ECS Total Common Shares Outstanding	606M	611M	612M	969M	1.45B
Book Value / Share	59.08	57.22	55.79	33.85	20.49
Tangible Book Value	35.46B	34.54B	33.71B	32.43B	29.43B
Tangible Book Value Per Share	58.47	56.51	55.07	33.48	20.25
Total Debt	19.31B	23.54B	28.17B	29.09B	27.01B
Net Debt	14.28B	18.31B	18.75B	23.14B	22.45B
Debt Equivalent Oper. Leases	3.21B	194M	174M	200M	637M
Minority Interest, Total (Incl. Fin. Div)	12.53B	8.48B	8.84B	8.19B	7.08B
Equity Method Investments, Total	7.76B	7.09B	7.34B	7.06B	7.13B
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Work In Process, Total	4.23B	4.14B	2.31B	5.89B	5.68B
Inventories - Finished Goods, Total	2.26B	5.96B	7.35B	5.85B	4.35B
Inventories - Others	58.44M	56.55M	48.85M	59.61M	66.61M
Film Contract & Broadcasting Rights - Long-Term, Total	24.61M	7.06M	15.11M	19.16M	24.37M
Buildings, Total	830M	330M	357M	347M	330M
Machinery, Total	563M	633M	753M	775M	782M
Full Time Employees	4.6K	4.6K	4.24K	3.96K	4.06K
Part Time Employees	-	-	504	768	694

Fiscal Period: July	2019	2020	2021	2022	2023
Net Income	4.84B	-2.93B	-2.09B	-1.97B	-2.97B
Depreciation & Amortization - CF	397M	941M	904M	888M	782M
Amortization of Goodwill and Intangible Assets - (CF)	395K	1.33M	1.63M	2.42M	1.99M
Depreciation & Amortization, Total	397M	943M	906M	891M	784M
Amortization of Deferred Charges, Total - (CF)	146M	189M	205M	17.93M	40.05M
(Gain) Loss From Sale Of Asset	-1.32M	1.63M	4.49M	43.08M	-967K
(Gain) Loss on Sale of Investments - (CF)	2.94B	-209M	-101M	244M	17.27M
Asset Writedown & Restructuring Costs	-469M	2.78B	595M	271M	1.03B
Provision for Credit Losses	-	-	15.69M	35.75M	-
(Income) Loss On Equity Investments - (CF)	-676M	441M	453M	40M	11.36M
Stock-Based Compensation (CF)	2.32M	3.92M	1.68M	1.87M	-
Provision and Write-off of Bad Debts	693K	11.74M	16.55M	17.97M	-941K
Other Operating Activities, Total	-7.29B	-1.53B	-675M	-337M	-97.25M
Change in Trading Asset Securities	-	-	-	38.66M	31K
Change In Accounts Receivable	-71.71M	-30.75M	-69.56M	-70.17M	28.78M
Change In Inventories	-389M	669M	1.75B	-2.41B	488M
Change In Accounts Payable	106M	-109M	794M	-629M	140M
Change in Other Net Operating Assets	-1.25B	-522M	-633M	-532M	147M
Cash from Operations	-1.72B	-294M	1.17B	-4.34B	-380M
Capital Expenditure	-1.65B	-636M	-450M	-269M	-190M
Sale of Property, Plant, and Equipment	167K	1.06M	2.24M	310K	2.74M
Cash Acquisitions	1.4B	-58.9M	-	-	-
Divestitures	-5.37M	-	-	-	-
Sale (Purchase) of Real Estate properties	-1.67B	-958M	-531M	-656M	-304M
Investment in Marketable and Equity Securities, Total	1.62B	190M	-813M	47.25M	-49.26M
Other Investing Activities, Total	1.74B	-348M	-201M	-162M	1.1B
Cash from Investing	1.44B	-1.81B	-1.99B	-1.04B	559M
Short Term Debt Issued, Total	463M	-	-	-	-
Long-Term Debt Issued, Total	6.6B	8.07B	13.96B	5.61B	8.94B
Total Debt Issued	7.06B	8.07B	13.96B	5.61B	8.94B
Short Term Debt Repaid, Total	-1.1B	-	-	-	-
Long-Term Debt Repaid, Total	-6.04B	-5.41B	-10B	-4.74B	-10.85B
Total Debt Repaid	-7.13B	-5.41B	-10B	-4.74B	-10.85B
Issuance of Common Stock	-	4.85M	4.9M	1.33B	777M
Common Dividends Paid	-60.5M	-26.36M	-	-	-
Common & Preferred Stock Dividends Paid	-60.5M	-26.36M	-	-	-
Other Financing Activities, Total	203M	-3.91M	868M	28.16M	-316M
Cash from Financing	74.89M	2.63B	4.83B	2.23B	-1.45B
Foreign Exchange Rate Adjustments	-76.37M	-44.98M	110M	-82.91M	-103M
Net Change in Cash	-276M	482M	4.12B	-3.23B	-1.38B
Supplemental Items
Cash Interest Paid	836M	866M	801M	1.02B	1.46B
Cash Income Tax Paid (Refund)	255M	167M	329M	539M	458M
Levered Free Cash Flow	-3.63B	-4.44B	111M	-3.55B	2.07B
Unlevered Free Cash Flow	-3.37B	-4.04B	547M	-3.06B	2.72B
Change In Net Working Capital	2.43B	4.15B	-515M	3.07B	-3.02B
Net Debt Issued / Repaid	-68M	2.66B	3.96B	876M	-1.91B

Fiscal Period: July	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.26	-0.49	-0.79	-0.77	-1.21
Return on Total Capital	0.3	-0.57	-0.91	-0.9	-1.4
Return On Equity %	11.84	-8.74	-6.15	-5.53	-8.82
Return on Common Equity	14.46	-8.29	-6.04	-5.88	-9.48
Margin Analysis
Gross Profit Margin %	35.5	30.85	21.8	31.13	14.8
SG&A Margin	22.38	22.1	19.29	21.93	24.65
EBITDA Margin %	10.2	-2.27	-8.65	-10.46	-22.17
EBITA Margin %	4.09	-11.71	-16.83	-19.83	-30.47
EBIT Margin %	4.09	-11.74	-16.86	-19.88	-30.51
Income From Continuing Operations Margin %	72.88	-76.96	-44.38	-45.62	-70.07
Net Income Margin %	74.58	-56.29	-34.88	-38.61	-60.51
Net Avail. For Common Margin %	74.58	-56.29	-34.88	-38.61	-60.51
Normalized Net Income Margin	7.79	0.84	-12.16	-16.52	-21.79
Levered Free Cash Flow Margin	-55.83	-85.09	1.85	-69.76	42.15
Unlevered Free Cash Flow Margin