20 Mar 2024
Towngas 2023 Annual Results
- In 2023, the Group’s overall business performed well with steady progress, consolidating the development of the gas business while expanding the renewable energy business through an asset-light strategy. The Group also ventured into new energy sectors, such as hydrogen energy and green methanol.
- The Hong Kong gas business maintained stability with a rise of 24,574 in the number of customers. However, due to above-average temperatures in 2023 and the impact of residents leaving the city for consumption, the total volume of gas sales was 27,125 million MJ (equivalent to approximately 800 million cubic metres of natural gas), a slight drop of 1 per cent compared to the previous year.
- The mainland businesses exceeded expectations, securing a total of 774 projects across 29 provincial regions, representing an increase of 150 projects compared to the previous year. Notably, the total volume of gas sales increased by 8 per cent compared to the previous year, while the number of city-gas customers recorded a growth of 7.8 per cent. The renewable energy business continued to expand, with cumulative contracted photovoltaic capacity 2.96 GW and grid-connected photovoltaic installation capacity 1.8 GW.
- Profit after taxation attributable to shareholders of the Group for the year amounted to HK$6,070 million, an increase of HK$822 million, up by 16 per cent, compared to 2022. Basic earnings per share for the year amounted to HK32.5 cents. Core profit before non-operating gains and losses increased by 11 per cent to HK$5,894 million. After excluding the Group’s share of a revaluation surplus from an investment property, International Finance Centre, the profit after taxation of the Group for the year amounted to HK$5,570 million, an increase of HK$260 million, up by 5 per cent, compared to 2022.
- A final dividend of HK23 cents per share is proposed. The total dividend payout for the whole year shall be maintained at HK35 cents per share.
(20 March 2024) For details of the results, please refer to the 2023 annual results announcement published on the Company’s website at
www.towngas.com and on the HKEXnews’ website at
www.hkexnews.hk.
Press photos:
Photo 1:
（From left）Chief Operating Officer - Gas Resources Zhou Heng Xiang, Chief Operating Officer - Mainland Utilities Mr. Martin Kee, Mr Edmund Yeung Lui-ming, Executive Director & Chief Financial Officer, Mr Peter Wong, Managing Director, Head of Commercial – Hong Kong Utility and Head of Sustainable Green Energy Hub Mr Don Cheng Hill-kwong, Chief Operating Officer - Renewable Business Dr. John Qiu, and Chief Operating Officer - Extended Business Mr. Yang Jun attend Towngas Annual Results Announcement Briefing.
Photo 2 :
Mr Peter Wong, Managing Director (Middle), Mr Edmund Yeung Lui-ming, Executive Director & Chief Financial Officer (Left), and Mr Don Cheng Hill-kwong, Head of Commercial – Hong Kong Utility and Head of Sustainable Green Energy Hub (Right), host the Towngas Annual Results announcement press conference.
For press enquiries, please contact:
The Hong Kong and China Gas Company Limited
Mr. Addie Lam
Assistant General Manager –
Corporate Affairs
Tel: 2963 2578 / 6702 6449
Email:
addie.lam@towngas.com |
Ms. Kara Kwong
Senior Corporate Communications Officer
Tel: 2963 3497 / 6698 3357
Email:
kara.kwong@towngas.com |