SUNEVISION: 2024/25 Interim Report

In the first half of the fiscal year 2024/25, SUNEVISION's revenue increased by 14% year-on-year to 1.47 billion HKD, with profit attributable to Shareholders rising by 11% to 0.484 billion HKD. The revenue growth was primarily driven by the income contributions from new Datacenters, particularly the trial operation of the first phase of MEGA IDC and the steady growth of existing Datacenters. EBITDA increased by 17% year-on-year to 1.053 billion HKD, with the profit margin rising from 70% to 72%. The net cash generated from operating Business rose by 37% compared to the same period last year to 0.982 billion HKD.During the period, the Datacenter services continued to experience strong demand. In terms of electrical capacity, the largest hyperscale Datacenter in Hong Kong, MEGA IDC...Show More

In the first half of the fiscal year 2024/25, SUNEVISION's revenue increased by 14% year-on-year to 1.47 billion HKD, with profit attributable to Shareholders rising by 11% to 0.484 billion HKD. The revenue growth was primarily driven by the income contributions from new Datacenters, particularly the trial operation of the first phase of MEGA IDC and the steady growth of existing Datacenters. EBITDA increased by 17% year-on-year to 1.053 billion HKD, with the profit margin rising from 70% to 72%. The net cash generated from operating Business rose by 37% compared to the same period last year to 0.982 billion HKD.During the period, the Datacenter services continued to experience strong demand. In terms of electrical capacity, the largest hyperscale Datacenter in Hong Kong, MEGA IDC Phase 1, was successfully put into trial operation in the first half of 2024, with initial customers already in operation. Due to the positive feedback from Phase 1, the Group has commenced construction of MEGA IDC Phase 2, which will increase the total floor area by approximately 0.35 million square feet, with completion planned for the fiscal year 2026/2027. MEGA Gateway opened in the first quarter of 2023, with 90% of the deployed capacity utilized by a strong customer mix including cloud, telecommunications, and Banks.Looking ahead, the Group is optimistic about the potential opportunities brought by the rapid development of AI. With the impending launch of MEGA IDC Phase 2, the Group will further enhance its capabilities. The Group will continue to prudently manage its balance sheet to maintain a cost-effective capital structure, gradually increasing capacity based on confirmed customer Orders. The adjusted debt-to-assets ratio remains at a healthy level of 37%, consolidating the Group's financial position.