Annual Report 2021

2021 2020 Year-on-year HK$’million HK$’million changes Revenue Ports operation 11,069 8,304 33.3% Bonded logistics operation 560 469 19.4% Other operations 221 172 28.5% Total 11,850 8,945 32.5% EBITDA 3 Ports operation 6,066 4,300 41.1% Bonded logistics operation 214 245 (12.7%) Other operations 148 67 120.9% EBITDA 6,428 4,612 39.4% Share of profits less losses of associates and joint ventures 7,254 4,457 62.8% Non-recurrent gains 825 1,701 (51.5%) Corporate function (180) (55) 227.3% Finance costs, net (1,415) (1,524) (7.2%) Taxation (1,241) (1,077) 15.2% Depreciation and amortisation (2,286) (2,033) 12.4% Non-controlling interests and holders of perpetual capital securities (1,241) (930) 33.4% Profit attributable to equity holders of the Company 8,144 5,151 58.1% 1 For 2021, include gain on modification of contract terms for a concession arrangement, net of tax of HK$483 million, net gain on deemed disposal of partial interest in associates, net of tax of HK$407 million, gain on deemed disposal of a subsidiary, net of tax of HK$16 million, net change in fair value of investment properties, net of tax of HK$12 million, and net change in fair value of financial assets and liabilities at fair value through profit or loss, net of tax of HK$311 million. For 2020, include gain on resumption of certain land parcels at Shantou, net of tax of HK$775 million, gain on discontinuance of equity accounting for a joint venture, net of tax of HK912 million, goodwill impairment loss of a subsidiary of HK$621 million, net change in fair value of investment properties, net of tax of HK$105 million, and net change in fair value of financial assets and liabilities at fair value through profit or loss, net of tax of HK$178 million. 2 Total interest-bearing debts and lease liabilities less cash and bank balances. 3 Earnings of the Company and its subsidiaries before finance costs, net, taxation, depreciation and amortisation, but excluding share of profits less losses of associates and joint ventures, non-recurrent gains, corporate function, profit attributable to non-controlling interests and holders of perpetual capital securities. Financial Highlights