WYNN MACAU, LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 1128 and Debt Stock Code: 5983) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2017, DECLARATION OF INTERIM DIVIDEND AND CLOSURE OF REGISTER OF MEMBERSThe Board of Directors of Wynn Macau, Limited (the "Company") is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2017 as follows.
FINANCIAL HIGHLIGHTS For the Six Months ended 30 June 2017 2016HK$ HK$
(in thousands, except per share amounts or otherwise stated)
Casino revenues | 15,603,397 | 9,153,749 |
Other revenues | 1,187,534 | 536,076 |
Adjusted EBITDA | 3,870,839 | 2,547,722 |
Profit attributable to owners | 1,591,948 | 1,140,905 |
Earnings per Share - basic and diluted (HK$) | 0.31 | 0.22 |
On 17 August 2017, the Board declared an interim dividend of HK$0.21 per Share for the six months ended 30 June 2017, payable to Shareholders whose names appear on the register of members of the Company on 6 September 2017. For the purpose of determining the identity of members who are entitled to the interim dividend the register of members of the Company will be closed from 2 September 2017 to 6 September 2017 (both days inclusive) during which period no transfer of Shares will be effected. The interim dividend is expected to be paid on 15 September 2017.
In order to determine the identity of the Shareholders entitled to the interim dividend, all transfers accompanied by the relevant share certificates must be lodged with the Company's registrar in Hong Kong, Computershare Hong Kong Investor Services Limited at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, not later than 4:30 p.m. on 1 September 2017.
* For identification purpose only
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the Six Months Ended 30 June 2017 2016HK$ HK$
(in thousands)
Operating revenues Casino | Notes | (unaudited) 15,603,397 | (unaudited) 9,153,749 |
Rooms | 242,142 | 62,909 | |
Food and beverage | 257,318 | 107,554 | |
Retail and other | 688,074 | 365,613 | |
16,790,931 | 9,689,825 | ||
Operating costs and expenses Gaming taxes and premiums | 7,779,751 | 4,404,799 | |
Staff costs | 2,290,456 | 1,750,501 | |
Other operating expenses | 3 | 2,952,426 | 1,601,105 |
Depreciation and amortization | 1,393,098 | 464,141 | |
Property charges and other | 7,739 | 8,897 | |
14,423,470 | 8,229,443 | ||
Operating profit | 2,367,461 | 1,460,382 | |
Finance revenues | 4,982 | 19,164 | |
Finance costs | 4 | (625,828) | (293,442) |
Net foreign currency differences | (140,263) | (15,482) | |
Changes in fair value of interest rate swaps | (8,190) | (22,193) | |
(769,299) | (311,953) | ||
Profit before tax | 1,598,162 | 1,148,429 | |
Income tax expense | 5 | 6,214 | 7,524 |
Net profit attributable to owners of the Company | 1,591,948 | 1,140,905 |
Other comprehensive income to be reclassified
to profit or loss in subsequent periods: Currency translation reserve | (208) | - | |
Other comprehensive income for the period | (208) | - | |
Total comprehensive income attributable to owners of the Company | 1,591,740 | 1,140,905 | |
Basic and diluted earnings per Share | 6 | HK$0.31 | HK$0.22 |
As at 30 June 2017 HK$ | As at 31 December 2016 HK$ | ||
(in thousands) | |||
Notes | (unaudited) | (audited) | |
Non-current assets Property and equipment and construction in progress | 34,732,685 | 35,858,056 | |
Leasehold interests in land | 1,734,537 | 1,782,623 | |
Goodwill Deposits for acquisition of property and equipment | 398,345 12,290 | 398,345 18,342 | |
Other non-current assets | 852,462 | 910,186 | |
Restricted cash and cash equivalents | 5,393 | 9,842 | |
Total non-current assets | 37,735,712 | 38,977,394 | |
Current assets Inventories | 328,357 | 338,023 | |
Trade and other receivables | 8 | 585,495 | 733,001 |
Prepayments and other current assets | 141,163 | 128,596 | |
Interest rate swaps | 871 | 8,189 | |
Amounts due from related companies | 183,264 | 156,561 | |
Restricted cash and cash equivalents | 13,432 | 12,267 | |
Cash and cash equivalents | 2,341,980 | 2,591,442 | |
Total current assets | 3,594,562 | 3,968,079 | |
Current liabilities Accounts payable | 9 | 519,129 | 525,501 |
Construction and retentions payables | 1,007,029 | 1,167,082 | |
Other payables and accruals | 10 | 7,413,814 | 5,866,015 |
Interest rate swaps | 859 | - | |
Amounts due to related companies | 187,157 | 202,298 | |
Income tax payables | 5 | 6,214 | 12,427 |
Other current liabilities | 56,480 | 55,763 | |
Total current liabilities | 9,190,682 | 7,829,086 | |
Net current liabilities | (5,596,120) | (3,861,007) | |
Total assets less current liabilities | 32,139,592 | 35,116,387 | |
As at | As at |
30 June 2017 | 31 December 2016 |
HK$ | HK$ |
(in thousands)
Notes (unaudited) (audited)
Non-current liabilitiesInterest-bearing borrowings | 11 | 29,787,136 | 32,169,888 |
Construction retentions payable | 129 | 1,244 | |
Other payables and accruals | 10 | 257,525 | 325,022 |
Other long-term liabilities | 160,906 | 167,169 | |
Total non-current liabilities | 30,205,696 | 32,663,323 | |
Net assets | 1,933,896 | 2,453,064 | |
Equity Equity attributable to owners of the Company Issued capital | 5,196 | 5,196 | |
Share premium account | 255,314 | 161,746 | |
Shares held for employee ownership scheme | (108,997) | (109,000) | |
Reserves | 1,782,383 | 2,395,122 | |
Total equity | 1,933,896 | 2,453,064 |
Wynn Macau Ltd. published this content on 17 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 17 August 2017 09:16:06 UTC.
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