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Finance

Wheelock & Co. Ltd.

  • 57.25 HKD
  • -0.60
  • -1.04%
  • Hong Kong
    Jun 15, 2018
  • Ticker
    HKG(20)
  • Prev. close
    57.85
  • Market cap (HKD)
    118,439.14M
  • Market cap (USD)
    15,089.28M
  • Shares
    2,047.34M

Company Background

Wheelock is a listed investment holding company based in Hong Kong. Through its key subsidiary, Wharf Holdings, the company engages in a wide range of businesses, including real estate development, shopping mall operations, media and container terminals.

Wharf Holdings operates two of Hong Kong's landmark shopping malls, the Harbour City in Tsim Sha Tsui and the Times Square in Causeway Bay, and accounts for about 10% of retail sales in Hong Kong.

The company runs complexes consisting of office buildings and shopping malls in locations in mainland China, including Shanghai, Dalian, Chongqing and Chengdu.

Wharf Holdings also has hotels under the Marco Polo and Niccolo brands in Hong Kong, mainland China and the Philippines. Group companies include i-Cable Communications, a leading cable TV provider in Hong Kong, and Wharf T&T, a telecommunications company.

Wheelock and Wharf were once separate British conglomerates in Hong Kong. In the 1970s and 1980s, Asian shipping magnate Yue-kong Pao acquired them both. Pao's successor, son-in-law Peter Woo, recently passed control of the businesses to his own eldest son, Douglas Woo, who now serves as chairman of the companies.

Business Summary

Wheelock & Co. Ltd. is an investment holding company, which engages in property investment and development. It operates through the following segments: Investment Property, Development Property, Hotels, Logistics, Communications, Media and Entertainment (CME), and Investment and Others. The Investment Property segment leases retail, office, and serviced apartments in Hong Kong, Mainland China, and Singapore. The Development Property segment covers acquisition, development, design, construction, sale, and marketing of trading properties in Hong Kong Mainland China, and Singapore. The Hotels Segment includes hotel operations in the Asia Pacific region. The Logistics Segment consists of container terminal operations in Hong Kong, and Mainland China. The CME segment comprises pay television, internet, multimedia, and other businesses. The Investment and Others segment is consists of management services, finance, and holding company operations. The company was founded in 1857 and is headquartered in Hong Kong.

Financial Highlights

Dec 2017 HKDUSD
Revenue70,953M9,104.92M
Gross Profit27,705M3,555.19M
Operating income22,411M2,875.85M
Income before tax37,041M4,753.22M
Net income20,570M2,639.61M
EBITDA24,849M3,188.70M
Diluted EPS10.061.29
Dividends Per Share1.420.18
Total Assets569,672M72,873.24M
Total liabilities181,849M23,262.37M
Total equity241,684M30,916.55M
Operating cash flow17,233M2,211.39M
Currency in HKDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 35,071M 40,953M 57,431M 60,579M 70,953M
Gross Profit 18,169M 18,870M 23,997M 24,720M 27,705M
Operating income 12,893M 13,802M 18,455M 19,395M 22,411M
Income before tax 33,465M 39,863M 25,081M 26,589M 37,041M
Net income 16,954M 22,009M 14,232M 16,294M 20,570M
EBITDA 16,449M 17,261M 21,655M 22,552M 24,849M
Diluted EPS 8.34 10.83 7 8.01 10.06
Dividends Per Share 1 1.06 1.15 1.30 1.42
Total Assets 486,814M 517,567M 512,758M 520,435M 569,672M
Total liabilities 175,242M 177,651M 171,899M 170,915M 181,849M
Total equity 166,582M 191,206M 201,667M 215,365M 241,684M
Operating cash flow -159M 13,933M 32,676M 31,636M 17,233M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 4,521.41M 5,281.06M 7,407.99M 7,804.10M 9,104.92M
Gross Profit 2,342.37M 2,433.36M 3,095.35M 3,184.55M 3,555.19M
Operating income 1,662.18M 1,779.82M 2,380.49M 2,498.56M 2,875.85M
Income before tax 4,314.36M 5,140.50M 3,235.18M 3,425.33M 4,753.22M
Net income 2,185.73M 2,838.15M 1,835.77M 2,099.07M 2,639.61M
EBITDA 2,120.63M 2,225.88M 2,793.26M 2,905.26M 3,188.70M
Diluted EPS 1.07 1.39 0.90 1.03 1.29
Dividends Per Share 0.12 0.13 0.14 0.16 0.18
Total Assets 62,784.33M 66,741.07M 66,161.03M 67,125.61M 72,873.24M
Total liabilities 22,600.93M 22,908.37M 22,180.08M 22,044.58M 23,262.37M
Total equity 21,484.05M 24,656.31M 26,021.04M 27,777.74M 30,916.55M
Operating cash flow -20.49M 1,796.72M 4,214.85M 4,075.51M 2,211.39M

Valuation Measures

Dec 2017
PER5.53
ROA3.77%
ROE9.00%
Operating margin31.58%
Profit margin28.99%

Key executives

  • Chairman, Chief Executive Officer & MD: Chun Kuen Woo
  • Group Chief Financial Officer & Executive Director: Yiu Cheung Tsui
  • Investor Relations Officer: Queenie Hung
  • Secretary: Wing Sang Chan

Shareholders

  • WOO KWONG CHING PETER (61.4%)
  • The Vanguard Group, Inc. (1.2%)
  • Norges Bank Investment Management (0.7%)
  • BlackRock Fund Advisors (0.7%)
  • Third Avenue Management LLC (0.6%)
  • APG Asset Management NV (0.3%)
  • Dimensional Fund Advisors LP (0.3%)
  • NNIP Advisors BV (0.1%)
  • Grantham, Mayo, Van Otterloo & Co. LLC (0.1%)
  • BlackRock Advisors (UK) Ltd. (0.1%)

Contact Details

Related Companies

  • Lane Crawford (Singapore) Pte Ltd.
  • Fabulous New Ltd.
  • Wharf Real Estate Investment Co. Ltd.
  • Wharf China Finance Ltd.
  • Delightful Assets Ltd.
  • Green Assets Group Ltd.
  • Wheelock MTN (Singapore) Pte Ltd.
  • Wheelock & Co., Ltd. (Real Estate)
  • Wheelock Investments Ltd.
  • Wheelock Finance Ltd.
  • Wheelock Properties (HK) Ltd.
  • Wheelock Corporate Services Ltd.
  • Lane Crawford International Ltd.
  • Lawley International Ltd.
  • Wheelock Properties (Singapore) Limited
  • Wharf (Holdings) Ltd.

Competitors

  • Robinsons Land Corp.
Last Updated on 15 Jun, 2018

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