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趙俊邦先生 (Joseph Chiu)
助理經理

現任職輝立助理經理,投資股票經驗豐富。擅長期權及期貨倉位分析,誠意為客戶提供實戰應用策略或交流心得!
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27 銀河娛樂 - 取諸社會,用諸社會

Tuesday, January 25, 2022 Views9019

-截至2021年6月止半年度,集團營業額上升71﹒3%至106﹒61億元,業績轉虧為盈,錄得股東應佔溢利9﹒47億元。期內業務概況如下:

(一)整體EBITDA為20億元,去年錄得EBITDA虧損11億元,當中「澳門銀河」EBITDA為17億元,星際酒店EBITDA為3﹒05億元,「澳門百老匯」EBITDA虧損為4300萬元;

(二)博彩及娛樂:營業額上升80﹒3%至94﹒87億元,業績轉虧為盈,錄得經調整EBITDA16﹒11億元,其中:

  1﹒「澳門銀河」:淨收益增加88﹒4%至72﹒26億元,業績轉虧為盈,錄得經調整EBITDA 16﹒88億元。其中,貴賓廳轉碼數增長8﹒2%至571﹒94億元,博彩收益上升19﹒2%至26﹒32億元;中場博彩收益增長1﹒2倍至42﹒38億元;角子機博彩收益增加43﹒8%至2﹒76億元;
  2﹒澳門星際酒店:淨收益上升79﹒6%至19﹒45億元,業績轉虧為盈,錄得經調整EBITDA 3﹒05億元。其中,貴賓廳轉碼數增加30﹒8%至258﹒09億元,博彩收益增長63%至8﹒33億元;中場博彩收益增加87﹒5%至14﹒29億元;角子機博彩收益上升13﹒3%至3400萬元;
  3﹒「澳門百老匯」:淨收益下降55﹒4%至2900萬元,經調整EBITDA虧損收窄55﹒7%至4300萬元。其中,角子機博彩收益減少83﹒3%至100萬元;

(三)建築材料:營業額上升17﹒1%至14﹒31億元,經調整EBITDA則下降12﹒5%至4﹒45億元;

(四)於2021年6月30日,集團之現金及銀行結餘總額(包括定期存款)為191﹒52億元,另有債務證券投資189﹒94億元,債務總額為114﹒12億元。


每股盈利
(91.6)港仙

短評:新冠肺炎疫情持續影響下,於二零二零年第四季度,中國內地、香港及澳門繼續實施旅遊限制和社交距離措施,疫情防控成效顯著。在收入低迷的情況下,集團於第四季度錄得經調整EBITDA為10億港元,較第三季度錄得9億港元的經調整EBITDA虧損,增長達207%。而集團淨現金足以支持集團營運,可望疫情再度減弱後的反彈。

建議買入價$45.5
 

目標價$54.65

止蝕$41.9

 

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