12 Mar 2008
Press Conference for 2007 Annual Results
Taps Environmental Protection Business Opportunities in China Consolidates Leading Presence
China Everbright International Limited ("Everbright International" or "the Group"), announced its audited annual results for the year ended 31 December 2007.
During the year under review, the Group's environmental protection business continued to develop rapidly, with certain projects advancing at full steam in construction, hence translated into increased revenue for the Group's environmental protection project construction services. Turnover and recurring profit rose significantly as a result of growth in processing volume of operating environmental protection projects. In 2007, consolidated turnover of the Group was HK$1,347,852,000, representing an increase of 52% as compared to the restated turnover of HK$884,043,000 for the previous year. EBITDA on recurring basis for the year amounted to HK$425,557,000, a significant increase of 102% as compared to the restated HK$210,776,000 for the previous year. Profit attributable to equity shareholders was HK$337,932,000, representing a decrease of 27% against the restated HK$460,478,000 for last year. Basic earnings per share were HK10.89 cents, a decrease of HK5.03 cents as compared to the restated HK15.92 cents for last year. Excluding the aforesaid non-recurring profits, profit attributable to equity shareholders on recurring basis of the Company was HK$299,847,000, representing a significant increase of 248% against the restated HK$86,060,000 for last year. Basic earnings per share on recurring basis were HK9.67 cents, an increase of HK6.69 cents as compared to the restated HK2.98 cents for last year. The Board has proposed to pay shareholders of the Group a final dividend of HK1 cent per share. Together with the interim dividend of HK 0.6 cent for 2007 already paid, the total dividends for the year amounted to HK1.6 cents.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International concluded, "The environmental protection business sector in the PRC can expect stronger growth, in speed and coverage, in 2008. The Central Government is expected to continue to roll out policies favouring development of the industry. Looking forward, with the support of its parent company China Everbright Holdings Company Limited and its well-established "Everbright Environment" brand, the Group will continue to invest more resources in research and development of environmental protection technologies and step up training for staff on mastering key technologies. It will also continue to seize business opportunities and open new markets to reinforce its leadership in the sector, and in turn generate more fruitful returns for shareholders."
Please click here to download the presentation materials for 2007annual results