Annual Report 2019

Financial Highlights 2019 2018 Year-on-year HK$’million HK$’million changes Revenue Ports operation 8,243 9,544 (13.6%) Bonded logistics operation 467 459 1.7% Other operations 188 157 19.7% Total 8,898 10,160 (12.4%) EBITDA 3 Ports operation 5,953 3,638 63.6% Bonded logistics operation 266 204 30.4% Other operations 203 416 (51.2%) EBITDA 6,422 4,258 50.8% Share of profits less losses of associates and joint ventures 4,295 4,826 (11.0%) Unallocated net income 4 4,817 3,726 29.3% Finance costs, net (1,782) (1,590) 12.1% Taxation (2,518) (1,295) 94.4% Depreciation and amortisation (1,996) (1,970) 1.3% Non-controlling interests (876) (710) 23.4% Profit attributable to equity holders of the Company 8,362 7,245 15.4% 1 For 2019, include gain on resumption of certain land parcels at Qianhai and Shantou, net of tax of HK$3,591 million, gain on deemed disposal of interest in a joint venture, net of tax of HK$416 million, increase in fair value of investment properties, net of tax of HK$76 million, and net gain on change in fair value of financial assets and liabilities at fair value through profit or loss, net of tax of HK$116 million. For 2018, include gain on disposal of subsidiaries, net of tax of HK$3,733 million, increase in fair value of investment properties, net of tax of HK$270 million, and net loss on change in fair value of financial assets and liabilities at fair value through profit or loss, net of tax of HK$1,052 million. 2 Total interest-bearing debts and lease liabilities less cash and bank balances. 3 Earnings before financial costs, net, taxation, depreciation and amortisation, but excluding share of profits less losses of associates and joint ventures, unallocated income less expenses and profit attributable to non-controlling interests of the Company and its subsidiaries. 4 For 2019, include expenses for corporate function, gain on resumption of certain land parcels at Qianhai and gain on deemed disposal of interest in a joint venture. For 2018, include expenses for corporate function and gain on disposal of subsidiaries.