Summary by Futu AI
SJM Holdings announced its unaudited interim results for the six months ending June 30, 2024. The group's total net income reached HKD 13.801 billion, a 47.4% increase from the same period last year. Gambling net income also saw a significant increase, reaching HKD 12.897 billion, with a growth rate of 48.3%. Adjusted EBITDA increased significantly to HKD 1.734 billion, a year-on-year growth of 275.9%. Although the company's loss attributable to owners narrowed to HKD 0.162 billion, it improved significantly compared to the loss of HKD 1.264 billion in the same period last year. SJM integrated resort limited accounted for 12.5% of Macau's gambling gross income, with mass market table game gross income accounting for 15.2% and VIP gross income accounting for 4.4%. Grand Lisboa and The New Lisboa recorded gross income of HKD 2.956 billion and HKD 3.8 billion respectively, and achieved positive adjusted property EBITDA. The group's cash and bank balance during the reporting period was HKD 3.433 billion, while its debts amounted to HKD 26.967 billion. In addition, no interim dividend was declared during the reporting period.
