SUNEVISION: Interim Results Announcement for the six months ended 31 December 2024

SUNEVISION's financial performance for the first half of the 2024 fiscal year has been solid, with revenue growing by 14% year-on-year to 1.47 billion HKD, mainly benefiting from the trial operations of the new Datacenter MEGA IDC Phase 1 and steady growth of existing Datacenters. EBITDA rose by 17% to 1.053 billion HKD, and the profit margin increased from 70% to 72%. Profit attributable to Shareholders grew by 11% to 0.484 billion HKD, with net cash generated from Operating Business increasing by 37% to 0.982 billion HKD.Despite a sluggish overall economic recovery, the demand in the Hong Kong market for quality Datacenter infrastructure and services remains strong. In terms of electrical capacity, the largest hyperscale Datacenter in Hong Kong, MEGA IDC Phase 1, successfully commenced trial operations in the...Show More

SUNEVISION's financial performance for the first half of the 2024 fiscal year has been solid, with revenue growing by 14% year-on-year to 1.47 billion HKD, mainly benefiting from the trial operations of the new Datacenter MEGA IDC Phase 1 and steady growth of existing Datacenters. EBITDA rose by 17% to 1.053 billion HKD, and the profit margin increased from 70% to 72%. Profit attributable to Shareholders grew by 11% to 0.484 billion HKD, with net cash generated from Operating Business increasing by 37% to 0.982 billion HKD.Despite a sluggish overall economic recovery, the demand in the Hong Kong market for quality Datacenter infrastructure and services remains strong. In terms of electrical capacity, the largest hyperscale Datacenter in Hong Kong, MEGA IDC Phase 1, successfully commenced trial operations in the first half of 2024, with the first batch of customers already operational. Given the positive feedback from Phase 1, the Group has started construction on MEGA IDC Phase 2, which will add approximately 0.35 million square feet of total floor area, expected to be completed in the fiscal year 2026/2027.Looking ahead, the Group is optimistic about the potential opportunities brought about by the rapid development of AI. MEGA IDC possesses unique advantages to meet the demands of AI applications, with excellent power supply and state-of-the-art infrastructure. The Group will continue to exercise prudent control over its balance sheet, maintaining a cost-effective capital structure, with an adjusted debt-to-asset ratio sustained at a healthy level of 52%.