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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 2018 HKDUSD
Revenue22,308M2,846.29M
Gross Profit12,321M1,572.04M
Operating income8,899M1,135.43M
Income before tax33,495M4,273.65M
Net income31,157M3,975.35M
EBITDA9,777M1,247.45M
Diluted EPS6.430.82
Dividends Per Share1.630.20
Total Assets441,106M56,340.05M
Total liabilities123,114M15,724.67M
Total equity313,153M39,997.31M
Operating cash flow3,721M474.76M
Currency in HKDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 23,804M 23,878M 26,167M 28,026M 22,308M
Gross Profit 9,636M 11,209M 11,465M 12,682M 12,321M
Operating income 5,551M 6,817M 6,946M 8,581M 8,899M
Income before tax 11,635M 15,038M 16,661M 33,382M 33,495M
Net income 16,752M 21,326M 21,916M 30,809M 31,157M
EBITDA 6,586M 7,798M 7,934M 9,512M 9,777M
Diluted EPS 3.48 4.41 4.53 5.78 6.43
Dividends Per Share 0.68 0.99 1.16 1.41 1.63
Total Assets 316,980M 336,269M 355,498M 410,998M 441,106M
Total liabilities 73,763M 80,000M 86,197M 113,055M 123,114M
Total equity 238,150M 251,247M 263,534M 292,574M 313,153M
Operating cash flow 5,653M 1,793M 9,048M 1,913M 3,721M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 3,069.62M 3,080.00M 3,370.96M 3,596.38M 2,846.29M
Gross Profit 1,242.60M 1,445.84M 1,476.98M 1,627.39M 1,572.04M
Operating income 715.82M 879.32M 894.81M 1,101.14M 1,135.43M
Income before tax 1,500.38M 1,939.74M 2,146.35M 4,283.68M 4,273.65M
Net income 2,160.24M 2,750.82M 2,823.33M 3,953.51M 3,975.35M
EBITDA 849.29M 1,005.85M 1,022.09M 1,220.61M 1,247.45M
Diluted EPS 0.45 0.56 0.58 0.74 0.82
Dividends Per Share 0.08 0.12 0.15 0.18 0.20
Total Assets 40,875.06M 43,388.70M 45,852.07M 52,575.44M 56,340.05M
Total liabilities 9,511.85M 10,322.38M 11,117.67M 14,462.15M 15,724.67M
Total equity 30,709.81M 32,418.33M 33,990.57M 37,426.47M 39,997.31M
Operating cash flow 728.97M 231.27M 1,165.61M 245.48M 474.76M

Valuation Measures

Dec 2018
PER5.50
ROA7.31%
ROE10.28%
Operating margin39.89%
Profit margin139.66%

Key executives

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

Shareholders

  • LEE SHAU KEE FAMILY (72.4%)
  • The Vanguard Group, Inc. (0.9%)
  • BlackRock Fund Advisors (0.5%)
  • LEE SHAU KEE (0.3%)
  • Norges Bank Investment Management (0.3%)
  • State Street Global Advisors Asia Ltd. (0.2%)
  • First State Investments (Hong Kong) Ltd. (0.1%)
  • Hang Seng Investment Management Ltd. (0.1%)
  • Third Avenue Management LLC (0.1%)
  • Eastspring Investments (Hong Kong) 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

  • Hang Oi Charitable Foundation Ltd.
  • Henderson Warmth Foundation Ltd.
  • Prosperwell Properties Ltd.
  • Hong Kong Concrete Precasting Product Co., Ltd.
  • Tactwin Development Ltd.
  • Profit Best Development Ltd.
  • Davenport Investment Ltd.
  • Henderson International Finance Ltd.
  • St. Helena Holdings Co. Ltd.
  • Broad Capital Ltd.
  • Future Home Ltd.
  • Ginca Construction Machinery Co. Ltd.
  • Dorway Investment Ltd.
  • Shanghai Hengzhi Properties Development Co. Ltd.
  • Henderson Real Estate Finance Ltd.
  • Henderson Land Finance (2011) Ltd.
  • Henderson (China) Finance Ltd.
  • Hang Yick Properties Management Ltd.
  • Carry Express Investment Ltd.
  • E Man Construction Co. Ltd.
  • Henderson Land Credit (2014) Ltd.
  • Henderson Land Credit (2009) Ltd.
  • Henderson Land MTN (S) Pte Ltd.
  • Henland Finance Ltd.
  • Henderson Real Estate Agency Ltd.
  • Henderson Land MTN Ltd.
  • Begonia Investment Ltd.
  • Viaduct Enterprises Ltd.
  • Resources Investment Ltd.
  • Jitterbug Investment Ltd.

Competitors

  • CK Infrastructure Holdings Limited
Last Updated on 12 Nov, 2019

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