CK Hutchison posts $20.83b profit in 2024

Total revenue for the year was $476.68b.

CK Hutchison Holdings Limited (CK Hutchison) reported an underlying profit of $20.83b for the full year ended 2024, down from $23.5b in the previous year.

The group’s total revenue for 2024 was $476.68b, up 3% from $461.56b in 2023.

The ports and related services division delivered robust performance, with revenue rising 11% year-on-year to $45.28b. The increase was driven by a 6% growth in throughput across all segments, a 13% rise in storage income, and favourable results from an associated shipping line.

Retail operations also reported total revenue of $190.19b, a 4% increase in reported currency (5% in local currencies) compared to 2023.

Likewise, the infrastructure division, which includes CK Hutchison’s 75.67% stake in CK Infrastructure Holdings Limited, also reported strong profit contributions from its operating businesses, with a 10% year-on-year increase. However, the division’s net profit was moderated by higher interest costs and lower foreign exchange gains. On a post-IFRS 16 basis, net profit was $8.12b, up 1% from the previous year.

The CK Hutchison Group Telecom recorded revenue of $88.37b, representing a 2% increase in reported currency compared to 2023.

Moreover, the finance & investments segment reported weaker results due to a $3.74b non-cash impairment on its Vietnam telecom business, lower contributions from Cenovus Energy, and the absence of treasury gains recorded in 2023.