Hong Kong · Delayed Price · Currency is HKD New World Development Company Earnings Call Transcripts
Fiscal Year 2026
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Turnaround achieved in net recurring operating profit, driven by strong sales and cost control, despite a non-cash loss from 11 SKIES. Debt reduction and asset monetization remain priorities, with significant cash inflows expected in FY 2027.
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Operations and finances stabilized with narrowed losses and strong Hong Kong property sales. Debt reduction advanced via a major bond exchange, while cost controls and lower interest rates improved profitability. Over 1,300 new units will launch in H2, supporting full-year sales targets.
Fiscal Year 2025
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FY 2025 saw strong property sales and improved cash flow, with total and net debt reduced. Despite a HKD 16.3 billion loss due to non-cash and one-off items, refinancing and cost controls strengthened liquidity. Market conditions remain uncertain, but sales targets and CAPEX reductions are set for FY 2026.
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H1 FY25 saw core operating profit fall 18% year-over-year to HKD 4.4 billion, with a HKD 6.6 billion loss due to one-off items. Debt reduction and cash flow improved, with strong property sales in both Hong Kong and mainland China, and CapEx guidance lowered.
Fiscal Year 2024
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FY 2024 saw a reported loss due to non-cash impairments and weak property markets, but core operating profit only declined 18% year-on-year. The group is focusing on deleveraging, asset-light strategies, and expects market recovery with new policy support and the rate cut cycle.