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genting hong kong ltd (678) Details

Genting Hong Kong Limited, an investment holding company, engages in cruise and cruise related operations; and leisure, entertainment, and hospitality activities in the Asia Pacific, North America, Europe, and internationally. It operates through two segments, Cruise and Cruise-Related Activities, and Non-Cruise Activities. The company primarily operates passenger cruise ships under the brands Star Cruises, Dream Cruises, Crystal Cruises, German shipyard, and Lloyd Werft. It operates a fleet of 6 ships offering various cruise itineraries in the region. The company is also operates club under the Zouk brand name and resort under the brand name of Resorts World Manila. In addition, it is involved in the bareboat chartering; hotel management, accommodation, and property management activities; operation and management of hotels; software development of tourist information system; education information consulting; and development of hospitality facilities. Further, the company provides management services; securities dealing and securities margin financing; credit services; cruise sales, marketing, and support services; and travel agency and consulting services. Additionally, it owns the shipyard area and annexed dockyards; offers newbuilding, conversion, and ships maintenance services; organizes events; holds IPs and trademarks; and is involved in entertainment business. The company was formerly known as Star Cruises Limited and changed its name to Genting Hong Kong Limited in 2010. Genting Hong Kong Limited was founded in 1993 and is headquartered in Tsim Sha Tsui, Hong Kong.

8,200 Employees
Last Reported Date: 04/26/16
Founded in 1993

genting hong kong ltd (678) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: $2.4M
Chief Information Officer, Executive Director...
Total Annual Compensation: $435.0K
Compensation as of Fiscal Year 2015.

genting hong kong ltd (678) Key Developments

Genting Hong Kong Limited Reports Unaudited Consolidated Earnings Results for the Six Months and Second Quarter Ended June 30, 2016

Genting Hong Kong Limited reported unaudited consolidated earnings results for the six months and second quarter ended June 30, 2016. For the six months, the company reported net revenues of USD 13,707,954,808 against USD 14,151,738,518 a year ago. Operating Profit was USD 2,172,846,822 against USD 2,874,041,916 in the same period in 2015. Profit before taxation was USD 2,023,502,439 against USD 2,408,162,162 a year ago. Net profit for the period was PHP 1,797,436,629 against PHP 2,363,771,171 a year ago. EBITDA is at PHP 2,988.8 million compared to PHP 3,528.0 million in the same period last year EBITDA is at PHP 2,988.8 million compared to PHP 3,528.0 million in the same period last year. For the quarter the company reported operating profit increased by 49.6% to PHP 1,180.6 million from PHP 789.3 million in the same period of 2015. This was primarily driven by higher net revenues and lower promotional allowance for the second quarter of 2016. EBITDA amounted to PHP 1,588.1 million which is 41.9% higher compared to EBITDA for the same period in 2015 amounting to PHP 1,119.4 million. Net revenues, increased by 18.6% to PHP 6,531.1 million compared to PHP 5,505.4 million in the same period of 2015. Second quarter year-over-year movement is mainly due to increase in gross gaming revenues and decrease in promotional allowance. Profit before tax was PHP 860.6 million, 31.1% higher compared to PHP 656.3 million reported in the same period last year. Net profit amounted to PHP 638.2 million, 3.1% higher compared to PHP 619.0 million posted in the same period last year.

Genting Hong Kong Limited Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2016

Genting Hong Kong Limited provided consolidated earnings guidance for the six months ended June 30, 2016. For the period, the company expected to record a net loss in the range of USD 60 million to USD 75 million compared to net profit, of USD 2.1 billion a year ago. Such expected decline in the consolidated net results of the group is mainly attributable to such expected decline in the consolidated net results of the group is mainly attributable to the absence of a one-off accounting gain of USD 1,567.4 million recognized arising from the reclassification of the group's investment in Norwegian Cruise Line Holdings Ltd. from Interest in associates to Available-for-sale investments in May 2015 and a total gain of USD 599.6 million arising from the disposals of certain stakes in NCLH in the six months ended 30 June 2015, one-time start-up and marketing costs for the launch of new Dream and Crystal cruise brands and products in 2016 and higher overall operating and selling, general and administrative expenses including depreciation and amortization as a direct result of the integration of the group's recently acquired businesses.

Genting Hong Kong Limited Enters into Facility Agreement with Credit Agricole Asia Shipfinance Limited

On 14 July 2016, Genting Hong Kong Limited as the borrower entered into the Facility Agreement with, inter alios, Credit Agricole Asia Shipfinance Limited as the agent and security agent; Crédit Agricole Corporate and Investment Bank, DNB Asia Ltd, Malayan Banking Berhad, RHB Bank Berhad and BNP Paribas as mandated lead arrangers; and Crédit Agricole Corporate and Investment Bank, DNB Asia Ltd, Malayan Banking Berhad, RHB Bank (L) Ltd., BNP Paribas, Oversea-Chinese Banking Corporation Limited, E.SUN Commercial Bank Ltd., Singapore Branch and Hua Nan Commercial Bank Ltd., Singapore Branch as original lenders, for the purpose of refinancing a secured term loan and revolving credit facility in respect of six (6) vessels of the Group and for general corporate purposes of the Group. The Facilities comprise the Term Loan Facility and the Revolving Credit Facility in an aggregate amount of up to $500,000,000. The final maturity date of all outstanding amounts under the Facilities will be the date falling seventy-two (72) months after the First Utilisation.

 

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Valuation 678 Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 2.7x
Price/Book 0.5x
Price/Cash Flow 2,243.1x
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