Finance
Henderson Land Development Co. Ltd.
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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 | HKD | USD |
| Revenue | 22,308M | 2,846.29M |
| Gross Profit | 12,321M | 1,572.04M |
| Operating income | 8,899M | 1,135.43M |
| Income before tax | 33,495M | 4,273.65M |
| Net income | 31,157M | 3,975.35M |
| EBITDA | 9,777M | 1,247.45M |
| Diluted EPS | 6.43 | 0.82 |
| Dividends Per Share | 1.63 | 0.20 |
| Total Assets | 441,106M | 56,340.05M |
| Total liabilities | 123,114M | 15,724.67M |
| Total equity | 313,153M | 39,997.31M |
| Operating cash flow | 3,721M | 474.76M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 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 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 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 | |
| PER | 5.50 |
| ROA | 7.31% |
| ROE | 10.28% |
| Operating margin | 39.89% |
| Profit margin | 139.66% |
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%)
- Hang Seng Investment Management Ltd. (0.1%)
- Third Avenue Management LLC (0.1%)
- Geode Capital Management LLC (0.1%)
- Dimensional Fund Advisors LP (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
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Competitors
- CK Infrastructure Holdings Limited
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Last Updated on 21 Feb, 2020