Income Statement Tsim Sha Tsui Properties Limited

Stocks

247 HK0247001271

Real Estate Development & Operations

Delayed Hong Kong S.E. 04:08:08 2026-08-21 EDT			5-day change	1st Jan Change
19.35 ^HKD	0.00%		0.00%	-3.73%

02-27	Tsim Sha Tsui Properties' Fiscal H1 Profit Falls	MT
02-27	Tsim Sha Tsui Properties Limited Announces Ordinary Interim Dividend for the Six Months Ended 31 December, 2025, Payable on 24 April 2026	CI

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Published financial data: TSIM SHA TSUI PROPERTIES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2021	2022	2023	2024	2025
Rental Revenues	-	-	-	-	-
Interest and Investment Income, Total (Revenue Block)	87.46M	86.52M	86.4M	144M	158M
Other Revenues, Total	24.68B	15.95B	13.14B	9.72B	8.6B
Total Revenues	24.77B	16.03B	13.23B	9.87B	8.76B
Property Expenses	11.04B	7.33B	6.52B	5.38B	4.32B
Selling General & Admin Expenses, Total	831M	882M	910M	885M	907M
Other Operating Expenses	214M	174M	228M	207M	349M
Total Operating Expenses	12.09B	8.39B	7.66B	6.47B	5.58B
Operating Income (REIT / Utility Template)	12.68B	7.65B	5.57B	3.4B	3.18B
Interest Expense, Total	-58.49M	-42.96M	-47.4M	-50M	-67M
Interest and Investment Income	573M	342M	1.42B	2.38B	2.3B
Net Interest Expenses	514M	299M	1.37B	2.32B	2.23B
Other Non Operating Income (Expenses)	133M	120M	22.46M	-299M	236M
EBT, Excl. Unusual Items	13.33B	8.07B	6.96B	5.42B	5.64B
Gain (Loss) on Sale of Investments	210M	-80.13M	-370M	-421M	-481M
Gain (Loss) on Sale of Assets	17.27M	4M	494K	-	-
Asset Writedown	-554M	-683M	179M	-193M	-653M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	13B	7.31B	6.77B	4.81B	4.51B
Income Tax Expense	2.53B	1.35B	863M	520M	474M
Earnings From Continuing Operations	10.47B	5.96B	5.91B	4.29B	4.04B
Net Income to Company	10.47B	5.96B	5.91B	4.29B	4.04B
Minority Interest	-5.17B	-2.8B	-2.62B	-1.78B	-1.7B
Net Income - (IS)	5.3B	3.16B	3.29B	2.51B	2.33B
Net Income to Common Incl Extra Items	5.3B	3.16B	3.29B	2.51B	2.33B
Net Income to Common Excl. Extra Items	5.3B	3.16B	3.29B	2.51B	2.33B
Per Share Items
Net EPS - Basic	2.77	1.6	1.62	1.2	1.08
Basic EPS - Continuing Operations	2.77	1.6	1.62	1.2	1.08
Basic Weighted Average Shares Outstanding	1.91B	1.97B	2.03B	2.09B	2.15B
Net EPS - Diluted	2.77	1.6	1.62	1.2	1.08
Diluted EPS - Continuing Operations	2.77	1.6	1.62	1.2	1.08
Diluted Weighted Average Shares Outstanding	1.91B	1.97B	2.03B	2.09B	2.15B
Normalized Basic EPS	1.65	1.14	0.85	0.77	0.85
Normalized Diluted EPS	1.65	1.14	0.85	0.77	0.85
Dividend Per Share	0.55	0.57	0.58	0.58	0.58
Payout Ratio	0.11	0.17	0.21	0.24	0.3
American Depositary Receipts Ratio (ADR)	5	5	5	5	5
Supplemental Items
EBITDA	12.79B	7.75B	5.69B	3.49B	3.27B
EBITA	12.68B	7.65B	5.57B	3.4B	3.18B
EBIT	12.68B	7.65B	5.57B	3.4B	3.18B
EBITDAR	12.82B	7.77B	5.71B	3.5B	3.28B
Effective Tax Rate - (Ratio)	19.47	18.49	12.74	10.82	10.51
Total Current Taxes	2.43B	1.28B	805M	451M	433M
Total Deferred Taxes	103M	69.36M	58.12M	69M	41M
Normalized Net Income	3.16B	2.24B	1.73B	1.61B	1.82B
Interest Capitalized	35.09M	18.02M	54.85M	51M	39M
Interest on Long-Term Debt	86.8M	57.09M	137M	101M	106M
Supplemental Operating Expense Items
General and Administrative Expenses	831M	882M	910M	885M	907M
Net Rental Expense, Total	30.04M	17.37M	13.45M	16M	6M
Imputed Operating Lease Interest Expense	2.43M	1.05M	1.68M	2.12M	853K
Imputed Operating Lease Depreciation	27.61M	16.32M	11.77M	13.88M	5.15M

Fiscal Period: June	2021	2022	2023	2024	2025
Assets
Gross Property Plant And Equipment	66.79B	66.03B	70.93B	71.1B	71.23B
Accumulated Depreciation	-1.21B	-1.28B	-1.92B	-1.91B	-2.1B
Net Property Plant And Equipment	65.58B	64.75B	69.01B	69.19B	69.13B
Total Real Estate Assets	65.58B	64.75B	69.01B	69.19B	69.13B
Cash And Equivalents	28.61B	15.35B	13.82B	6.72B	16.93B
Accounts Receivable, Total	261M	323M	280M	284M	338M
Other Receivables	6.7B	5.4B	6.58B	7.7B	6.44B
Investment In Debt and Equity Securities	897M	1B	1.2B	1.24B	1.62B
Goodwill	739M	739M	739M	739M	739M
Notes Receivable (Collected)	87.83M	80.59M	110M	223M	368M
Other Current Assets, Total	39.31B	51.22B	47.84B	56.53B	50.01B
Trading Asset Securities, Total	15.27M	12.36M	12.7M	16M	12M
Deferred Tax Assets Long-Term (Collected)	-	4.45M	7.65M	20M	18M
Other Long-Term Assets, Total	40.47B	41.84B	41.46B	39.5B	39.9B
Total Assets	183B	181B	181B	182B	186B
Liabilities
Current Portion of Long-Term Debt	3.62B	3.12B	2.8B	1.66B	3.83B
Current Portion of Leases	49.24M	31.18M	41.02M	20M	35M
Short-Term Borrowings	-	-	-	-	-
Long-Term Debt	5.63B	3.69B	3.37B	4.31B	2.06B
Long-Term Leases	19.74M	13.55M	15.38M	2M	15M
Accounts Payable, Total	142M	158M	148M	696M	772M
Accrued Expenses, Total	1.04B	886M	827M	797M	1.04B
Current Income Taxes Payable	2.33B	3.2B	1.39B	883M	471M
Unearned Revenue, Current	6.01B	2.74B	986M	254M	473M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	4.85B	5.05B	4.78B	3.58B	3.21B
Deferred Tax Liability Non-Current	2.66B	2.71B	2.7B	2.78B	2.8B
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	26.35B	21.58B	17.06B	14.99B	14.71B
Common Stock, Total	15.34B	16.97B	18.11B	19.3B	20.54B
Retained Earnings	66.92B	68.45B	70.59B	71.89B	72.98B
Comprehensive Income and Other	2.8B	2.84B	2.89B	3.67B	5B
Total Common Equity	85.07B	88.26B	91.59B	94.87B	98.52B
Minority Interest	71.25B	70.87B	72.4B	72.32B	72.29B
Total Equity	156B	159B	164B	167B	171B
Total Liabilities And Equity	183B	181B	181B	182B	186B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.94B	2.01B	2.06B	2.12B	2.19B
ECS Total Common Shares Outstanding	1.94B	2.01B	2.06B	2.12B	2.19B
Book Value / Share	43.95	44	44.51	44.72	45.06
Tangible Book Value	84.33B	87.52B	90.85B	94.13B	97.78B
Tangible Book Value Per Share	43.57	43.63	44.15	44.38	44.72
Total Debt	9.32B	6.85B	6.23B	5.99B	5.94B
Net Debt	-19.3B	-8.51B	-7.6B	-748M	-11B
Debt Equivalent Oper. Leases	240M	139M	108M	128M	48M
Minority Interest, Total (Incl. Fin. Div)	71.25B	70.87B	72.4B	72.32B	72.29B
Equity Method Investments, Total	23.43B	23.77B	23.59B	23.38B	23.9B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Work In Process, Total	19.02B	18.06B	9.43B	9.4B	9.96B
Inventories - Finished Goods, Total	4.22B	2.41B	7.04B	6.49B	4.72B
Inventories - Others	19.46M	13.66M	9M	6M	4M
Land - (BS)	-	-	-	-	-
Machinery, Total	884M	912M	987M	923M	1.04B
Assets on Operating Lease - Gross	62.46B	61.79B	66.01B	66.29B	66.04B
Accumulated Allowance for Doubtful Accounts (Supple)	75.36M	74.63M	80.49M	94M	109M

Fiscal Period: June	2021	2022	2023	2024	2025
Net Income	5.3B	3.16B	3.29B	2.51B	2.33B
Depreciation, Depletion & Amortization	186M	181M	198M	160M	158M
Total Depreciation, Depletion & Amortization	186M	181M	198M	160M	158M
Amortization of Deferred Charges, Total	-	-	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-17.74M	-4.08M	-884K	-	-
(Gain) Loss on Sale of Investments - (CF)	-2.96M	-29.52M	-4.64M	9M	-10M
Total Asset Writedown	554M	683M	-176M	193M	674M
(Income) Loss On Equity Investments - (CF)	-391M	-327M	-927M	-639M	-32M
Provision and Write-off of Bad Debts	42.39M	8.92M	16.23M	16M	43M
Change in Trading Asset Securities	-	-	-	-	-
Change in Accounts Receivable	-88.68M	231M	99.29M	8M	-86M
Change In Inventories	7.2B	2.77B	7.87M	-154M	1.21B
Change in Accounts Payable	140M	217M	-273M	-297M	-296M
Change in Unearned Revenues	-17.6B	-3.27B	-1.76B	-714M	216M
Change in Other Net Operating Assets (Collected)	-67.11M	-600M	-613M	250M	472M
Other Operating Activities	6.96B	3.44B	-427M	-188M	-845M
Cash from Operations	2.21B	6.46B	-573M	1.15B	3.83B
Acquisition of Real Estate Assets, Total	-120M	-190M	-273M	-497M	-427M
Sale of Real Estate Assets, Total	31.86M	58.16M	6.16M	2M	1M
Net Sale / Acquisition of Real Estate Assets	-88.05M	-132M	-267M	-495M	-426M
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	2.63B	-15.92B	-1.45B	-9.24B	4.9B
Other Investing Activities, Total	1.71B	1.78B	2.25B	2.88B	3.04B
Cash from Investing	4.24B	-14.28B	537M	-6.85B	7.51B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	1.08B	233M	1.01B	1.1B	1.37B
Total Debt Issued	1.08B	233M	1.01B	1.1B	1.37B
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-1.74B	-2.87B	-1.72B	-1.36B	-1.31B
Total Debt Repaid	-1.74B	-2.87B	-1.72B	-1.36B	-1.31B
Common Dividends Paid	-5.63M	-5.42M	-6.85M	-6M	-7M
Common & Preferred Stock Dividends Paid	-5.63M	-5.42M	-6.85M	-6M	-7M
Special Dividend Paid	-	-2.69M	-	-	-
Other Financing Activities, Total	-592M	-2.64B	-636M	-1.09B	-1.16B
Cash from Financing	-1.26B	-5.29B	-1.35B	-1.36B	-1.11B
Foreign Exchange Rate Adjustments	195M	-147M	-144M	-35M	-24M
Net Change in Cash	5.39B	-13.26B	-1.53B	-7.09B	10.21B
Supplemental Items
Cash Interest Paid	60.59M	44.27M	117M	62M	44M
Cash Income Tax Paid (Refund)	692M	399M	2.53B	903M	850M
Net Debt Issued / Repaid	-660M	-2.64B	-711M	-262M	58M
Levered Free Cash Flow	2.73B	-8.06B	1.96B	-9.59B	9.43B
Unlevered Free Cash Flow	2.76B	-8.04B	1.99B	-9.56B	9.47B
Change In Net Working Capital	5.35B	13B	1.69B	11.84B	-7.33B

Fiscal Period: June	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.28	2.63	1.92	1.17	1.08
Return on Total Capital	4.95	2.88	2.07	1.24	1.14
Return On Equity %	6.94	3.78	3.66	2.59	2.39
Return on Common Equity	6.47	3.65	3.66	2.69	2.41
Margin Analysis
Gross Profit Margin %	55.43	54.28	50.69	45.47	50.63
SG&A Margin	3.36	5.5	6.88	8.97	10.36
EBITDA Margin %	51.65	48.34	43.04	35.36	37.37
EBITA Margin %	51.21	47.7	42.09	34.41	36.29
EBIT Margin %	51.21	47.7	42.09	34.41	36.29
Income From Continuing Operations Margin %	42.28	37.15	44.67	43.45	46.08
Net Income Margin %	21.42	19.7	24.85	25.42	26.61
Net Avail. For Common Margin %	21.42	19.7	24.85	25.42	26.61
Normalized Net Income Margin	12.77	14	13.07	16.31	20.81
Levered Free Cash Flow Margin	11.02	-50.29	14.78	-97.19	107.69
Unlevered Free Cash Flow Margin	11.16	-50.12	15	-96.87	108.17
Asset Turnover
Asset Turnover	0.13	0.09	0.07	0.05	0.05
Fixed Assets Turnover	0.38	0.25	0.2	0.14	0.13
Receivables Turnover (Average Receivables)	-	-	-	-	-
Inventory Turnover (Average Inventory)	0.41	0.34	0.35	0.33	0.28
Short Term Liquidity
Current Ratio	4.16	4.77	6.25	9.06	7.54
Quick Ratio	1.97	1.39	1.89	1.87	2.41
Operating Cash Flow to Current Liabilities	0.12	0.43	-0.05	0.15	0.39
Days Sales Outstanding (Average Receivables)	-	-	-	-	-
Days Outstanding Inventory (Average Inventory)	896.85	1.09K	1.03K	1.1K	1.29K
Average Days Payable Outstanding	12.88	12.02	22.12	63.55	86.17
Cash Conversion Cycle (Average Days)	-	-	-	-	-
Long Term Solvency
Total Debt/Equity	5.96	4.3	3.8	3.58	3.48
Total Debt / Total Capital	5.63	4.13	3.66	3.46	3.36
LT Debt/Equity	3.61	2.33	2.06	2.58	1.22
Long-Term Debt / Total Capital	3.41	2.23	1.99	2.49	1.17
Total Liabilities / Total Assets	14.42	11.94	9.42	8.23	7.93
EBIT / Interest Expense	216.83	178.04	117.49	67.9	47.45
EBITDA / Interest Expense	220.02	182.25	121.67	71.1	49.81
(EBITDA - Capex) / Interest Expense	220.02	182.25	121.67	71.1	49.81
Total Debt / EBITDA	0.72	0.87	1.08	1.69	1.78
Net Debt / EBITDA	-1.5	-1.09	-1.32	-0.21	-3.3
Total Debt / (EBITDA - Capex)	0.72	0.87	1.08	1.69	1.78
Net Debt / (EBITDA - Capex)	-1.5	-1.09	-1.32	-0.21	-3.3
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	297.58	-35.81	-17.49	-25.42	-11.23
Gross Profit, 1 Yr. Growth %	265.15	-37.57	-22.95	-33.09	-1.16
EBITDA, 1 Yr. Growth %	353.55	-40.4	-26.54	-38.71	-6.19
EBITA, 1 Yr. Growth %	368.12	-40.69	-27.19	-39.03	-6.36
EBIT, 1 Yr. Growth %	368.12	-40.69	-27.19	-39.03	-6.36
Earnings From Cont. Operations, 1 Yr. Growth %	525.8	-43.12	-0.78	-27.46	-5.86
Net Income, 1 Yr. Growth %	488.27	-40.45	4.05	-23.7	-7.06
Diluted EPS Before Extra, 1 Yr. Growth %	475.5	-42.2	0.99	-25.81	-9.83
Normalized Net Income, 1 Yr. Growth %	89.61	-31.92	-22.95	-6.93	13.26
Net Property, Plant and Equip., 1 Yr. Growth %	-0.26	-1.26	6.57	0.27	-0.09
Inventory, 1 Yr. Growth %	-24.99	-11.93	-19.52	-3.52	-7.64
Accounts Receivable, 1 Yr. Growth %	0.97	23.55	-13.25	1.43	19.01
Total Assets, 1 Yr. Growth %	-2.72	-1.07	0.18	0.62	1.83
Common Equity, 1 Yr. Growth %	7.84	3.75	3.77	3.58	3.84
Tangible Book Value, 1 Yr. Growth %	7.91	3.79	3.81	3.61	3.87
Cash From Operations, 1 Yr. Growth %	-62.44	191.96	-108.86	-301.05	232.64
Levered Free Cash Flow, 1 Yr. Growth %	-69.19	-381.83	-124.25	-590.54	-198.37
Unlevered Free Cash Flow, 1 Yr. Growth %	-68.87	-377.35	-124.7	-581.7	-199.13
Dividend Per Share, 1 Yr. Growth %	0	3.64	1.75	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	65.31	60.43	-27.23	-21.56	-18.63
Gross Profit, 2 Yr. CAGR %	57.81	52.15	-30.64	-28.2	-18.68
EBITDA, 2 Yr. CAGR %	68.81	65.78	-33.83	-32.91	-24.18
EBITA, 2 Yr. CAGR %	70.43	68.01	-34.28	-33.37	-24.44
EBIT, 2 Yr. CAGR %	70.43	68.01	-34.28	-33.37	-24.44
Earnings From Cont. Operations, 2 Yr. CAGR %	22.25	88.67	-24.88	-15.17	-17.36
Net Income, 2 Yr. CAGR %	19.5	87.17	-21.28	-10.9	-15.79
Diluted EPS Before Extra, 2 Yr. CAGR %	16.95	82.38	-23.6	-13.44	-18.21
Normalized Net Income, 2 Yr. CAGR %	369.54	15.97	-27.57	-15.33	2.67
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.17	-0.76	2.58	3.37	0.09
Inventory, 2 Yr. CAGR %	-8.4	-18.72	-15.81	-11.88	-5.6
Accounts Receivable, 2 Yr. CAGR %	8.33	11.69	3.53	-6.23	9.87
Total Assets, 2 Yr. CAGR %	0.24	-1.9	-0.44	0.4	1.23
Common Equity, 2 Yr. CAGR %	4.54	5.78	3.76	3.68	3.71
Tangible Book Value, 2 Yr. CAGR %	4.58	5.83	3.8	3.71	3.74
Cash From Operations, 2 Yr. CAGR %	-60.59	4.72	-49.13	-57.77	158.6
Levered Free Cash Flow, 2 Yr. CAGR %	-8.18	-4.58	-17.33	9.05	119.67
Unlevered Free Cash Flow, 2 Yr. CAGR %	-8.22	-4.88	-17.23	9.06	118.52
Dividend Per Share, 2 Yr. CAGR %	0	1.8	2.69	0.87	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	27.13	20.95	28.54	-26.63	-18.25
Gross Profit, 3 Yr. CAGR %	30.67	16.44	21.28	-31.47	-20.13
EBITDA, 3 Yr. CAGR %	34.57	19.97	26.39	-35.5	-24.98
EBITA, 3 Yr. CAGR %	35.14	20.54	27.15	-35.91	-25.37
EBIT, 3 Yr. CAGR %	35.14	20.54	27.15	-35.91	-25.37
Earnings From Cont. Operations, 3 Yr. CAGR %	-9.3	-5.27	52.29	-25.75	-12.17
Net Income, 3 Yr. CAGR %	-10.21	-5.26	53.9	-22.1	-9.64
Diluted EPS Before Extra, 3 Yr. CAGR %	-12.52	-7.54	49.76	-24.34	-12.26
Normalized Net Income, 3 Yr. CAGR %	0.94	150.08	1.19	-21.26	-6.7
Net Property, Plant and Equip., 3 Yr. CAGR %	0.36	-1.2	1.62	1.8	2.21
Inventory, 3 Yr. CAGR %	-5.03	-9.59	-18.99	-11.9	-10.49
Accounts Receivable, 3 Yr. CAGR %	7.53	13.19	2.67	2.8	1.53
Total Assets, 3 Yr. CAGR %	4.49	-0.2	-1.21	-0.09	0.88
Common Equity, 3 Yr. CAGR %	4.73	4.28	5.1	3.7	3.73
Tangible Book Value, 3 Yr. CAGR %	4.78	4.32	5.15	3.73	3.76
Cash From Operations, 3 Yr. CAGR %	-34.55	-23.17	-54.02	-19.55	-15.98
Levered Free Cash Flow, 3 Yr. CAGR %	-12.87	35.57	-39.56	49.65	5.37
Unlevered Free Cash Flow, 3 Yr. CAGR %	-12.76	34.78	-39.32	48.86	5.64
Dividend Per Share, 3 Yr. CAGR %	1.24	1.2	1.79	1.79	0.58
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	14.92	-3.73	1.88	1.71	7.05
Gross Profit, 5 Yr. CAGR %	17.03	-0.53	1.74	-4.03	3.36
EBITDA, 5 Yr. CAGR %	19.68	-0.82	1.64	-4.92	3.02
EBITA, 5 Yr. CAGR %	19.86	-0.84	1.62	-4.91	3.25
EBIT, 5 Yr. CAGR %	19.86	-0.84	1.62	-4.91	3.25
Earnings From Cont. Operations, 5 Yr. CAGR %	7.91	-6	-15.89	-9.36	19.25
Net Income, 5 Yr. CAGR %	7.93	-3.87	-14.81	-7.56	20.92
Diluted EPS Before Extra, 5 Yr. CAGR %	5.23	-6.4	-17.13	-9.95	17.58
Normalized Net Income, 5 Yr. CAGR %	98.23	18.45	-10.88	62.16	1.78
Net Property, Plant and Equip., 5 Yr. CAGR %	1.33	0.39	1.24	0.6	1.01
Inventory, 5 Yr. CAGR %	-3.07	-3.88	-9.5	-10.51	-13.88
Accounts Receivable, 5 Yr. CAGR %	-31.08	8.93	5.91	4.98	5.48
Total Assets, 5 Yr. CAGR %	4.01	2.94	2.49	0.04	-0.24
Common Equity, 5 Yr. CAGR %	6.48	5.87	4.34	4.04	4.55
Tangible Book Value, 5 Yr. CAGR %	6.55	5.93	4.38	4.07	4.58
Cash From Operations, 5 Yr. CAGR %	-23.97	5.79	-40.82	-39.53	-8.24
Levered Free Cash Flow, 5 Yr. CAGR %	-14.44	125.48	-13.86	24.26	1.27
Unlevered Free Cash Flow, 5 Yr. CAGR %	-13.82	97.4	-13.77	23.83	1.3
Dividend Per Share, 5 Yr. CAGR %	1.52	1.47	1.82	1.07	1.07