AMTD IDEA Group Achieved a 22.74% Increase in Core Revenue and Successfully Announced the First Set of Consolidated Annual Financials Including AMTD Digital Inc. and L’Officiel Inc. SAS
21 April 2023 - 11:50PM
Business Wire
AMTD IDEA Group (“AMTD IDEA” or the “Company”, NYSE: AMTD; SGX:
HKB), a NYSE and SGX-ST dual listed company and a subsidiary of
AMTD Group Inc. (“AMTD Group” or the “Group”), today announced its
audited financial results for the fiscal year ended December 31,
2022.
AMTD Group is a Hong Kong headquartered conglomerate focusing on
the “IDEA” strategy to develop the four pillars of core businesses,
namely “I” : international connectors and business services, “D”:
digital media and solutions, “E”: education and training, and “A”:
premium assets and hospitality.
AMTD IDEA, a subsidiary of AMTD Group, includes the “I”, “D” and
“A” pillars of businesses in a listed holding platform to support
synergies, create values and empower ecosystem of resources and
network to develop and enable ongoing opportunities and sustainable
developments.
For the year ended December 31, 2022, in summary, the Company
has had significant achievements in the following key parameters in
the midst of global economic uncertainties and volatility of global
markets:
- Core revenue, excluding net fair value changes on financial
assets at fair value through profit and loss and derivatives, has
increased by 22.74% from 2021 to 2022;
- Net profit margin after tax has increased from 69.0% for the
year of listing in 2019 to approximately 91.6% for 2022;
- Finance costs decreased for four consecutive years by over
75.7% from our year of listing in 2019, reflecting the very
successful outcome of the Company’s asset and liability management
on an ongoing basis; and
- Net assets as of the end of 2022 amounted to HK$7.8 billion,
representing approximately 35% increase from prior year.
On an overall basis, the Company enhanced many aspect of its
operating efficiency and quality of fundamentals, including a drop
of the Debt to Equity ratio from 8.7% in 2021 to 2.1% in 2022; and
a Quick ratio of 13.95 in 2022 compared to 5.03 in 2021.
In addition, the following represents a summary of the major
developments and successful business expansion subsequent to
December 31, 2022:
- The previously announced transaction of injecting AMTD Assets
Group (“AMTD Assets”) into AMTD IDEA has been consummated
successfully in February 2023. AMTD Assets represents the letter
“A” of AMTD Group’s “IDEA” strategy, and holds a global portfolio
of premium whole building properties, with a fair market value of
approximately US$500 million.
- AMTD IDEA’s subsidiary was granted a clean facility line
amounting to US$15 million from an international financial
institution in February 2023.
- The Company entered into share subscription agreements with
certain selected investors in April 2023. The investors agreed to
subscribe for and purchase from the Company a total of 90,000,000
newly issued Class A ordinary shares (equivalent to 45 million
ADRs) of the Company with total proceeds of US$93.6 million, at a
23.08% premium above yesterday’s closing price.
Dr. Feridun Hamdullahpur, Chairman of the board and audit
committee, commented, “I am very pleased with AMTD IDEA Group’s
annual financial results for FY2022. The results not only show
solid earnings performance and resilience in these turbulent times
but also exhibit great confidence for the future. On behalf of the
Board of Directors of the AMTD IDEA Group, I congratulate and thank
the leadership and the management team for their outstanding work
and dedication. I share the desire, conviction and commitment of
the team to achieve even higher results in the years ahead.”
Mr. William Fung, CEO of the Company, commented, “The management
team is proud to have achieved a stable and sustainable set of
financial results for FY2022, as the global economies were still in
recovery mode for most part of 2022. We were able to achieve a good
balance of generating profits and strengthening our capital base by
reducing finance costs and raising new capital. Furthermore,
business and assets diversifications has been one of the key
objectives for the management team and we have made significant
progress by completing the injection of global premium fixed assets
into the Company and the consolidation of AMTD Digital Inc. and
L’Officiel Inc. SAS. On behalf of the management team, I would like
to thank the board for its continued support and guidance, as well
as express our gratitude to our investors and business partners for
their trust and partnership. We are seeing positive signs and
trends on both the economic and business fronts, so we remain
optimistic and enthusiastic about 2023 and onwards.”
Mr. Xavier Zee, CFO of the Company, commented, “The management
and fellow business teams have delivered another year of solid
performance and results in 2022. This year, we successfully
integrated and consolidated AMTD Digital and L’Officiel into AMTD
IDEA Group, further broadening our service offerings and enriching
our SpiderNet ecosystem. We see a much broader set of business
opportunities and markets for the enlarged group to explore,
leveraging our unique soft power strengths when East meets West. We
will continue to showcasing our new ID (International plus Digital)
to the world.”
About AMTD IDEA Group
AMTD IDEA Group (NYSE: AMTD; SGX: HKB) is a premier Hong
Kong-headquartered financial institution group connecting companies
and investors from Asia, including China and Hong Kong as well as
the ASEAN markets with global capital markets. Its comprehensive
one-stop capital market solutions strategy addresses different
clients’ diverse and inter-connected financial needs across all
phases of their life cycles. Leveraging its deep roots in Asia and
its unique eco-system — the “AMTD SpiderNet” — the Company is
uniquely positioned as an active super-connector between clients,
business partners, investee companies, and investors, connecting
the East and the West. For more information, please visit
www.amtdinc.com or follow us on Twitter at “@AMTDGroup.” For the
Company’s announcements, please visit
https://ir.amtdinc.com/News.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital
solutions platform in Asia. Its one-stop digital solutions platform
operates four main business lines including digital financial
services, SpiderNet ecosystem solutions, digital media, content and
marketing, as well as digital investments. It is the fusion reactor
at the core of the AMTD SpiderNet ecosystem and empowers and
integrates the various digital businesses within its ecosystem. For
AMTD Digital’s announcements, please visit
https://ir.amtdigital.net/investor-news.
About L’OFFICIEL
L’Officiel (www.lofficiel.com) is a global leading media company
built on a centennial brand legacy, based in Paris since 1921.
Present in 80 countries, with 32 in-language international media,
L’Officiel is today visible by fashion enthusiast worldwide through
its extensive, omni-platform digital presence. Recognized as a
leading luxury and fashion brand, L’Officiel is an international
reference for French style and pioneer in fashion, beauty,
lifestyle and contemporary society.
Safe Harbor Statement
This press release contains statements that may constitute
“forward-looking” statements pursuant to the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Statements that are not historical facts,
including statements about AMTD’s beliefs, plans, and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. Further information regarding
these and other risks is included in AMTD’s filings with the SEC.
All information provided in this press release is as of the date of
this press release, and AMTD does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
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IR Office AMTD IDEA Group TEL: +852 3163-3389 EMAIL:
ir@amtdinc.com IR Office AMTD Digital Inc. TEL: +852 3163-3298
EMAIL: ir@amtdigital.com
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