Annual Report 2023

2023 2022 Year-on-year HK$’million HK$’million changes Revenue Ports operation 10,680 11,833 (9.7%) Bonded logistics operation 593 522 13.6% Other operations 209 190 10.0% Total 11,482 12,545 (8.5%) EBITDA 3 Ports operation 6,141 6,435 (4.6%) Bonded logistics operation 347 232 49.6% Other operations 119 164 (27.4%) Total 6,607 6,831 (3.3%) Share of profits less losses of associates and joint ventures 5,646 8,112 (30.4%) Non-recurrent gains/(losses) 167 (376) 144.4% Corporation function (322) (665) (51.6%) Finance costs, net (1,330) (1,454) (8.5%) Taxation (1,174) (1,046) 12.2% Depreciation and amortisation (2,209) (2,373) (6.9%) Non-controlling interests and holders of perpetual capital securities (1,152) (1,248) (7.7%) Profit attributable to equity holders of the Company 6,233 7,781 (19.9%) 1 For 2023, include gain on disposal of a subsidiary, net of tax of HK$34 million, net change in fair value of investment properties, net of tax of HK$1 million, and net change in fair value of financial assets (equity investments) at fair value through profit or loss, net of tax of HK$41 million. For 2022, include net loss on deemed disposal of partial interest in an associate, net of tax of HK$3 million, net change in fair value of investment properties, net of tax of HK$5 million, and net change in fair value of financial assets (equity investments) at fair value through profit or loss, net of tax of HK$342 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/(losses), corporate function, profit attributable to non-controlling interests and holders of perpetual capital securities.