89743, (&8- '&1&3(* &3)
(439.3:*) 89&'1* ).897.':9.438
hph trust concluded the year with a
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strong cash position of hK$7.8 billion.
Cash generated from operations was
hK$6.7 billion, and net cash from
operating activities was hK$5.4 billion,
representing a year-on-year increase of
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similar to the previous year, hph trust
has recommended a total payout
of hK$3.6 billion in distributions to
unitholders for 2014, representing a
dpu of 41 hK cents and a distribution
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GFXJI TS YMJ RFWPJY
price of us$0.69 on 31 december 2014.
under the conditions of a muted global
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and maintaining stable cash distributions
continue to remain at the forefront of the
trustee-Manager’s priorities.
'&1&3(*) (&5.9&1 897:(9:7*
hph trust has a balanced capital
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short-term debt forms only about a
quarter of total consolidated debt.
the trust’s total outstanding bank
loans amount to hK$33.8 billion, and
the majority of them are unsecured.
details of the bank loans are set out
on page 97 of the annual report.
+.3&3(.&1 4:91440 +47
looking ahead, u.s. economic outlook
for 2015 is expected to be favourable,
in line with a strengthening economy,
positive consumer spending, and lower
unemployment rates. accordingly,
outbound cargoes to the u.s. should
continue to display an upward trend.
China’s economic outlook also remains
positive for 2015, as the government
has committed to sustaining reasonable
expansion, such as cutting interest rates
to spur growth.
on the other hand, the european Central
Bank has implemented more aggressive
policy stimulus to boost the sluggish
eurozone economy, as evidenced by
continued weak outbound cargoes
to the eurozone. Cargo volume for
transshipment and the niche trade routes
of far east, africa, Central and south
america and oceania is projected to
increase moderately.
leading liners continue to form large
carrier alliances and strengthen their
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its well-built infrastructures, natural
deep-water channels and mega-vessel
handling capabilities, is well positioned
to cater to this trend.
Building on its cutting-edge
infrastructure and strong fundamentals,
hph trust will continue to drive
growth by focusing on managing cash
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arrangements, managing capital
expenditure, controlling working
capital needs and optimising capital
deployment with the objective of
providing stable annual distributions
to unitholders.
DID YOU KNOW?
if placed end-to-end,
the combined length of
the container berths at
the trust’s ports would
be 12,952m, equivalent
to more than 15 times
the height of the Burj
Khalifa, the world’s
tallest building!
FUN
FACT
29
HUTCHISON PORT HOLDINGS TRUST
ANNUAL REPORT 2014
