Swire Pacific Ltd.

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Company Background

Swire Pacific is a Hong Kong conglomerate with a workforce of over 130,000 staff around the world. It operates business units in the areas of property development, aviation, marine services, beverages and trading. John Slosar became its chairman in 2014. U.K-based John Swire & Sons holds a 49% stake in Swire Pacific.

The conglomerate owns 82% of Hong Kong-listed Swire Properties, one of the region's leading property developers. Swire Properties operates offices properties, hotels, and major shopping malls in Hong Kong, mainland China, and the U.S.

The company has a 45% stake in Cathay Pacific Airways, the special administrative region's flag carrier, offering passenger and cargo services to about 200 cities worldwide. Its marine services unit, Swire Pacific Offshore, owns and operates around 90 offshore support vessels.

Swire's beverages unit has had a strategic partnership with Coca-Cola since the 1960s, and became one of the largest franchises in the world. It manufactures 57 brands and supplies a franchise population of more than 450 million people. Its sales territories include the U.S., Hong Kong, Taiwan and seven provinces in mainland China.

Its trading and industrial division includes automotive trading in Hong Kong, mainland China, Taiwan, Malaysia. It also operates wholesale and retail sales of casual shoes, apparel and accessories across China.

Business Summary

Swire Pacific Ltd. is a holding company with diversified interests. It operates through the following divisions: Property, Aviation, Beverages, Marine Services, Trading and Industrial, and Head Office. The Property division designs, develops and manages mixed-use developments that successfully transform urban areas. The Aviation division provides cargo airlines, aircraft engineering, catering and airport services. The Beverages division involves bottling, distribution, and delivery of beverage products. The Marine Services division includes international offshore energy support, and dockyard and towage services. The Trading and Industrial division engages in the retail and distribution of apparel and motor vehicles and is involved in the sugar and paint businesses. The company was founded in 1974 and is headquartered in Hong Kong.

Financial Highlights

Dec 2018	HKD	USD
Revenue	84,606M	10,794.96M
Gross Profit	30,867M	3,938.35M
Operating income	10,450M	1,333.32M
Income before tax	32,346M	4,127.05M
Net income	23,629M	3,014.84M
EBITDA	14,248M	1,817.91M
Diluted EPS	15.73	2.00
Dividends Per Share	3	0.38
Total Assets	436,405M	55,739.62M
Total liabilities	111,290M	14,214.46M
Total equity	270,424M	34,539.77M
Operating cash flow	15,436M	1,969.49M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	61,301M	60,885M	62,389M	80,289M	84,606M
Gross Profit	22,852M	22,747M	21,826M	28,298M	30,867M
Operating income	12,063M	9,913M	9,519M	10,624M	10,450M
Income before tax	15,603M	18,997M	15,748M	35,506M	32,346M
Net income	11,069M	13,429M	9,644M	26,070M	23,629M
EBITDA	14,887M	12,951M	12,694M	14,236M	14,248M
Diluted EPS	7.36	8.93	6.41	17.34	15.73
Dividends Per Share	3.90	3.90	2.10	2.10	3
Total Assets	357,335M	362,365M	373,498M	421,099M	436,405M
Total liabilities	95,205M	98,379M	101,330M	115,005M	111,290M
Total equity	218,775M	218,449M	224,879M	253,163M	270,424M
Operating cash flow	14,474M	11,963M	13,190M	15,600M	15,436M

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	7,905.03M	7,853.52M	8,037.27M	10,302.94M	10,794.96M
Gross Profit	2,946.86M	2,934.12M	2,811.73M	3,631.29M	3,938.35M
Operating income	1,555.57M	1,278.67M	1,226.28M	1,363.30M	1,333.32M
Income before tax	2,012.07M	2,450.41M	2,028.73M	4,556.24M	4,127.05M
Net income	1,427.39M	1,732.19M	1,242.39M	3,345.38M	3,014.84M
EBITDA	1,919.74M	1,670.54M	1,635.30M	1,826.81M	1,817.91M
Diluted EPS	0.94	1.15	0.82	2.22	2.00
Dividends Per Share	0.50	0.50	0.27	0.26	0.38
Total Assets	46,078.90M	46,755.86M	48,173.70M	53,867.57M	55,739.62M
Total liabilities	12,276.83M	12,693.81M	13,069.52M	14,711.60M	14,214.46M
Total equity	28,211.37M	28,186.42M	29,004.85M	32,384.96M	34,539.77M
Operating cash flow	1,866.48M	1,543.10M	1,699.20M	2,001.84M	1,969.49M

Valuation Measures

Dec 2018
PER	5.25
ROA	5.51%
ROE	9.02%
Operating margin	12.35%
Profit margin	27.92%

Key executives

Finance Director & Executive Director: Mei Shuen Low
Executive Director-Beverages Division: Patrick Healy
Secretary: Yat Hung Fu

Shareholders

John Swire & Sons Ltd. (45.4%)
The Vanguard Group, Inc. (1.7%)
Schroder Investment Management Ltd. (1.2%)
Lazard Asset Management LLC (1.0%)
BlackRock Fund Advisors (1.0%)
Norges Bank Investment Management (0.9%)
Investec Asset Management Ltd. (0.7%)
Dimensional Fund Advisors LP (0.6%)
Baillie Gifford & Co. (0.5%)
JPMorgan Asset Management (Asia Pacific) Ltd. (0.5%)

Contact Details

Website:http://www.swirepacific.com
Address: 33rd Floor, One Pacific Place, 88 Queensway, Hong Kong, Hong Kong
Phone: +852.2840.8888

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Competitors

PT Wintermar Offshore Marine Tbk
Tidewater Inc
Bourbon Corp.
SeaBird Exploration Plc

Last Updated on 12 Nov, 2019