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Consumer Non-Durables

Swire Pacific Ltd.

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, and Trading and Industrial. 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 1816 and is headquartered in Hong Kong.

Financial Highlights

Dec 2020 HKDUSD
Revenue80,032M10,318.72M
Gross Profit30,215M3,895.69M
Operating income8,982M1,158.07M
Income before tax860M110.88M
Net income-10,999M-1,418.12M
EBITDA13,536M1,745.23M
Diluted EPS-7.32-0.94
Dividends Per Share1.700.21
Total Assets433,110M55,857.41M
Total liabilities113,964M14,697.73M
Total equity262,692M33,878.91M
Operating cash flow11,459M1,477.43M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 62,389M 80,289M 84,606M 85,652M 80,032M
Gross Profit 21,826M 28,298M 30,867M 31,821M 30,215M
Operating income 9,519M 10,624M 10,450M 10,693M 8,982M
Income before tax 15,748M 35,506M 32,346M 11,750M 860M
Net income 9,644M 26,070M 23,629M 9,007M -10,999M
EBITDA 12,694M 14,236M 14,248M 15,516M 13,536M
Diluted EPS 6.41 17.34 15.73 5.99 -7.32
Dividends Per Share 2.10 2.10 3 3 1.70
Total Assets 373,498M 421,099M 436,405M 441,397M 433,110M
Total liabilities 101,330M 115,005M 111,290M 111,903M 113,964M
Total equity 224,879M 253,163M 270,424M 273,352M 262,692M
Operating cash flow 13,190M 15,600M 15,436M 10,541M 11,459M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 8,037.27M 10,302.94M 10,794.96M 10,931.69M 10,318.72M
Gross Profit 2,811.73M 3,631.29M 3,938.35M 4,061.28M 3,895.69M
Operating income 1,226.28M 1,363.30M 1,333.32M 1,364.73M 1,158.07M
Income before tax 2,028.73M 4,556.24M 4,127.05M 1,499.64M 110.88M
Net income 1,242.39M 3,345.38M 3,014.84M 1,149.55M -1,418.12M
EBITDA 1,635.30M 1,826.81M 1,817.91M 1,980.29M 1,745.23M
Diluted EPS 0.82 2.22 2.00 0.76 -0.94
Dividends Per Share 0.27 0.26 0.38 0.38 0.21
Total Assets 48,173.70M 53,867.57M 55,739.62M 56,648.91M 55,857.41M
Total liabilities 13,069.52M 14,711.60M 14,214.46M 14,361.63M 14,697.73M
Total equity 29,004.85M 32,384.96M 34,539.77M 35,082.00M 33,878.91M
Operating cash flow 1,699.20M 2,001.84M 1,969.49M 1,345.33M 1,477.43M

Valuation Measures

Dec 2020
PER--
ROA-2.51%
ROE-4.10%
Operating margin11.22%
Profit margin-13.74%

Key executives

  • Executive Director & Finance Director: Martin James Murray
  • Secretary: St. John Andrew Flaherty

Shareholders

  • John Swire & Sons Ltd. (48.0%)
  • BlackRock Fund Advisors (1.7%)
  • The Vanguard Group, Inc. (1.5%)
  • First Pacific Advisors LP (1.2%)
  • Norges Bank Investment Management (1.0%)
  • Henderson Global Investors Ltd. (0.9%)
  • Ruffer LLP (0.5%)
  • JPMorgan Asset Management (Asia Pacific) Ltd. (0.5%)
  • Dimensional Fund Advisors LP (0.4%)
  • BlackRock Advisors (UK) Ltd. (0.4%)

Contact Details

Related Companies

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  • Biao Da Motors Ltd.
  • Nice Access (Shanghai) Trading Co., Ltd.
  • Chevon (Shanghai) Trading Co., Ltd.
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  • Nice Access Ltd.
  • Chevon Holdings Ltd.
  • Reservoir Management Services (Shanghai) Co., Ltd.
  • Taikoo Sugar Chengdu Ltd.
  • Guiyang Yuqinyuan Food Co., Ltd.
  • Guiyang Qinyuan Catering Management Co., Ltd.
  • Chongqing Qinyuan Trading Co., Ltd.
  • Chongqing Qinyuan Catering Management Co., Ltd.
  • Chengdu Xin Qinyuan Trading Co., Ltd.
  • Chengdu Xin Qinyuan Food Co., Ltd.
  • Swire Environmental Services Ltd.
  • Swire Bakery Ltd.
  • Swire Pacific Offshore Africa SA
  • Swire Pacific Offshore NZ Ltd.
  • Swire Seabed Shipping AS
  • Swire Pacific Offshore Ltd. (Bermuda)
  • Swire Pacific Ship Management Ltd.
  • SPHI Holdings Ltd.
  • Swire Pacific Industries Ltd.
  • Swire Guangdong Coca-Cola Zhanjiang Ltd.
  • Swire Coca-Cola (China) Co., Ltd.
  • Swire Coca-Cola Beverages Yunnan Ltd.
  • Swire Coca-Cola Beverages Jiangxi Ltd.
  • Swire Coca-Cola Beverages Luohe Ltd.

Competitors

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