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Finance

Henderson Land Development Co. Ltd.

Company Background

Henderson Land Development is a major property developer that is based and listed in Hong Kong. It builds residential properties, including luxury condominiums, as well as office and commercial complexes, such as the International Finance Centre on Hong Kong Island and the World Financial Centre in Beijing.

Its chairman, Lee Shau-kee, was a founding member of leading Hong Kong real estate developer Sun Hung Kai Properties. But in 1976, he branched out and created Henderson Land Development.

With the money generated from the company's listing on the Hong Kong stock exchange, Lee began acquiring old buildings and farmland and developed the land for sale. This strategy has enabled Henderson Land to grow rapidly over the years. The company is now the biggest landowner in Hong Kong's New Territories.

Group company Hong Kong and China Gas is the dominant supplier of city gas in Hong Kong. It also supplies city gas across the mainland, and boasts more than 20 million customers.

Henderson Land's subsidiaries also include Hong Kong Ferry Holdings and Miramar Hotel and Investment.

Lee is a high-profile stock investor and has been called the "Warren Buffett of Asia." His comments on stock markets attract keen attention from the Hong Kong public.

Business Summary

Henderson Land Development Co. Ltd. is an investment holding company, which engages in the property development and investment, construction, infrastructure, hotel operation, finance, department store operation, and project management. It operates through the following business segments: Property Development; Property Leasing; Department Store Operation; Others Businesses; and Utility and Energy. The Property Development segment involves in the development and sale of properties. The Property Leasing segment offers leasing of properties. The Department Store Operation segment comprises of department store operations and management. The Other Businesses segment is comprised of hotel operation and management, construction, provision of finance, investment holding, project management, property management, agency services, cleaning and security guard services, as well as the trading of building materials and disposal of leasehold land. The Utility and Energy segment consists of production, distribution and marketing of gas, water supply, and energy businesses. The company was founded by Shau Kee Lee in 1976 and is headquartered in Hong Kong.

Financial Highlights

Dec 2020 HKDUSD
Revenue25,423M3,277.85M
Gross Profit15,706M2,025.01M
Operating income12,662M1,632.54M
Income before tax9,554M1,231.82M
Net income10,192M1,314.08M
EBITDA13,090M1,687.72M
Diluted EPS2.100.27
Dividends Per Share1.800.23
Total Assets461,087M59,465.55M
Total liabilities128,895M16,623.35M
Total equity327,607M42,250.88M
Operating cash flow9,468M1,220.73M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 26,167M 28,026M 22,308M 24,373M 25,423M
Gross Profit 11,465M 12,682M 12,321M 12,995M 15,706M
Operating income 6,946M 8,581M 8,899M 9,119M 12,662M
Income before tax 16,661M 33,382M 33,495M 19,086M 9,554M
Net income 21,916M 30,809M 31,157M 16,994M 10,192M
EBITDA 7,934M 9,512M 9,777M 10,097M 13,090M
Diluted EPS 4.53 5.78 6.43 3.51 2.10
Dividends Per Share 1.16 1.41 1.63 1.80 1.80
Total Assets 355,498M 410,998M 441,106M 455,245M 461,087M
Total liabilities 86,197M 113,055M 123,114M 129,852M 128,895M
Total equity 263,534M 292,574M 313,153M 320,851M 327,607M
Operating cash flow 9,048M 1,913M 3,721M 8,850M 9,468M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 3,370.96M 3,596.38M 2,846.29M 3,110.70M 3,277.85M
Gross Profit 1,476.98M 1,627.39M 1,572.04M 1,658.54M 2,025.01M
Operating income 894.81M 1,101.14M 1,135.43M 1,163.85M 1,632.54M
Income before tax 2,146.35M 4,283.68M 4,273.65M 2,435.93M 1,231.82M
Net income 2,823.33M 3,953.51M 3,975.35M 2,168.93M 1,314.08M
EBITDA 1,022.09M 1,220.61M 1,247.45M 1,288.67M 1,687.72M
Diluted EPS 0.58 0.74 0.82 0.44 0.27
Dividends Per Share 0.15 0.18 0.20 0.22 0.23
Total Assets 45,852.07M 52,575.44M 56,340.05M 58,426.16M 59,465.55M
Total liabilities 11,117.67M 14,462.15M 15,724.67M 16,665.21M 16,623.35M
Total equity 33,990.57M 37,426.47M 39,997.31M 41,178.03M 42,250.88M
Operating cash flow 1,165.61M 245.48M 474.76M 1,129.51M 1,220.73M

Valuation Measures

Dec 2020
PER14.36
ROA2.22%
ROE3.14%
Operating margin49.80%
Profit margin40.08%

Key executives

  • Co-Chairman & Co-Managing Director: Ka Kit Lee
  • Co-Chairman & Co-Managing Director: Ka Shing Lee
  • Chief Financial Officer & Executive Director: Andrew Fung
  • GM-Information Technology Department: Tak Cheung Kum
  • Chief Treasurer & Executive Director: Woon King Fung Lee

Shareholders

  • LEE SHAU KEE FAMILY (72.4%)
  • BlackRock Fund Advisors (0.8%)
  • The Vanguard Group, Inc. (0.7%)
  • Norges Bank Investment Management (0.3%)
  • LEE SHAU KEE (0.3%)
  • State Street Global Advisors Asia Ltd. (0.2%)
  • Geode Capital Management LLC (0.2%)
  • BlackRock Advisors (UK) Ltd. (0.1%)
  • Dimensional Fund Advisors LP (0.1%)
  • Hang Seng Investment Management Ltd. (0.1%)

Contact Details

  • Website:http://www.hld.com
  • Address: 72-76/F, Two International Finance Centre, Hong Kong, Hong Kong
  • Phone: +852.2908.8888

Related Companies

  • Capital Matrix Ltd.
  • Henderson Property Agency Ltd.
  • Henderson Leasing Agency Ltd.
  • Starland International Ltd.
  • Midlink Ltd. (British Virgin Islands)
  • Hang Seng Quarry Co., Ltd.
  • Main Champion Development Ltd.
  • Fondoll Investment Ltd.
  • Citiright Development Ltd.
  • Channel Best Ltd.
  • Sunshine City Property Management Ltd.
  • Star Management Ltd.
  • Nathan Hill Management Co., Ltd.
  • Metro City Management Ltd.
  • Henderson Sunlight Property Management Ltd.
  • Hang On Estate Management Ltd.
  • H-Privilege Ltd.
  • Goodwill Management Ltd.
  • Flora Plaza Management Ltd.
  • Beverly Hill (Estate Management) Ltd.
  • Heng Shung Construction Co., Ltd.
  • Henderson Land Finance Ltd.
  • Hansom Technology Ltd.
  • Success Crown Development Ltd.
  • Smart Time International Ltd.
  • Rich Chase Development Ltd.
  • Ever Supreme Development Ltd.
  • Union Fortune Development Ltd.
  • Intelligent House Ltd.
  • Evercot Enterprise Co., Ltd.

Competitors

  • Miramar Hotel & Investment Co. Ltd.
  • CK Infrastructure Holdings Limited
Last Updated on 24 Sep, 2021

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