Page 4 - Sphere No.8 (Mar 2003)
Basic HTML Version
S
PHERE
2
H U T C H I S O N U P D A T E S
JV to Promote ChinaTourism
Hutchison Whampoa (China)
has become a founding JV
partner (27.5%) of
Beijing
Tourism Development Co.
(Beijing Tourism) together
with
Beijing Enterprises
Holdings
(40%) and
Beijing Tourism
Group
(27.5%).
The three companies are co-operating jointly
in light of the many opportunities brought
about by Beijing’s successful bid for the 2008
Olympic Games and the rapid development
Hutchison Whampoa Limited (HWL), one of the largest companies listed on 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 multinational conglomerate with
businesses spanning 41 countries.With over 150,000 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, HutchisonTelecom, HutchisonWhampoa
Properties, A.S.Watson, and Cheung Kong Infrastructure. In 2002, HWL’s consolidated revenue
was HK$111,129 million.
HUTCHISONWHAMPOA LIMITED
applause
Hutchison Telecom (HK)
and its
prestigious brand
Orange
in December
were each awarded the “Superbrand” title
by the
Superbrands Council
.The brands
successfully fulfilled the judging criteria,
which include market dominance,
longevity, goodwill, customer loyalty and
overall market acceptance.
Hutchison Global
Communications
(HGC) and
China Telecom
have reached an
agreement to increase their interconnection
capacity by 10Gbit/s to a total of 12.5Gbit/s.
The expansion provides an additional
connection path for the Hong
Kong-Shenzhen-Guangzhou Synchronous
Digital Hierarchy (SDH) Ring, increasing
network and route diversity.
HGC plans to introduce a series of
multimedia voice and video communications
services, includingVideo Telephony,Video
Mail,
Share-eSee
(a multi-party
collaborative conferencing service) and
e-Profile
(an online biography application).
HONG KONG
HGC Connects with China
Partner Communi-
cations
has announced a
strong financial performance for 2002.
Revenues for the year amounted to
NIS4,054.6 million (approximately US$855.9
million), up 25% from NIS3,249.3 million in
2001. EBITDA was NIS1,052.2 million, up
60% from NIS656.4 million. Operating profit
was NIS533.4 million, up 418% from
NIS102.9 million in 2001. Net income was
NIS84.2 million compared to a net loss of
NIS303.4 million in 2001. Market share
increased to an estimated 29%, up from 27%
at the end of 2001. Reflecting Partner’s solid
performance,
Standard & Poor’s
(S&P) in
February revised its outlook on the company
from stable to positive. S&P also affirmed its
B+ long term corporate credit and B- senior
unsecured debt ratings.
Partner recently signed a new financial
agreement with a number of banks and now
has a fully funded business plan.
ISRAEL
Partner Performs
T E L E C O M S
of China’s tourism industry.
Beijing Tourism’s assets include
Beijing
Badaling Tourism Development, Jian
Guo Hotel Joint Venture Beijing, Beijing
Long Qing Xia Tourism Development,
Great Wall Hotel Joint Venture,
and the
Holiday Inn Civic Center
in San Francisco.
Beijing Enterprises is the primary overseas
commercial window for the Beijing
Municipal Government while Beijing
Tourism Group is one of China’s largest
tourist organisations.
C O R P O R A T E
News
applause
Hutchison Whampoa
Limited
has again received
a number of accolades
from various media for its
performance in 2002.
Euromoney
magazine placed
HWL at the top of the list in
the “Best Asian Companies –
Conglomerate” category and
fourth in the “Best Companies
in Hong Kong” category.
In its “Review 200” awards, an
annual survey that asks readers
to rank companies in the
region by their leadership
qualities, the
Far Eastern
Economic Review
ranked HWL
third in the category “Asia’s
Leading Companies (Hong
Kong)”.
Global Finance
meanwhile
named HWL “Best Company
in Asia-Pacific –
Conglomerates/Logistics”.
HutchisonWhampoa Limited recorded an audited profit
attributable to shareholders for the year amounted to
HK$14,288 million (approximately US$1,832 million), an
increase of 19% compared to the previous year. Earnings per
share amounted to HK$3.35, an increase of 19% with a total
dividend per share of HK$1.73 (2001 - HK$1.73).
The results include profit on disposal of investments less
provisions totalling HK$1,524 million (2001 - HK$3,124
million) which primarily relates to a profit of HK$1,129
million arising from the sale of equity interests in certain
ports. Excluding these exceptional gains in both years, profit
attributable to shareholders increased 44%, reflecting
continuous growth in the Group’s recurring operations.
Turnover for 2002 totalled HK$111,129 million, an increase
of 25% over that of 2001.Total EBIT for the year increased
13% to HK$24,447 million.All of the Group’s divisions,
other than the finance and investment division, reported
EBIT ahead of last year.The Group’s cash and liquid
investments, at market value, totalled HK$130,267 million.
For full results, see
HWL Annual Results
2002
HK$’ million
Profit attributable to shareholders
Earnings per share
14,288
HK$3.35
2001
HK$’ million
11,980
HK$2.81
Changes
19%
19%
