Melco International Development Limited ( (MDEVF) ) has released its Q4 earnings. Here is a breakdown of the information Melco International Development Limited presented to its investors.
Melco International Development Limited is a Hong Kong-based company engaged in the development, ownership, and operation of integrated resort facilities across Asia and Europe, primarily focusing on the casino and hospitality sectors. The company operates through its majority-owned subsidiary, Melco Resorts & Entertainment Limited, with significant operations in Macau, the Philippines, and Cyprus.
In its latest earnings report for the year ended December 31, 2024, Melco International reported a substantial increase in net revenues, reaching HK$36.17 billion, a 22.5% rise from the previous year. This growth was largely driven by the recovery in inbound tourism to Macau and the successful ramp-up of operations at Studio City Phase 2 and City of Dreams Mediterranean. Despite this revenue growth, the company reported a loss attributable to owners of HK$0.78 billion, an improvement from the HK$1.74 billion loss in the previous year.
Key financial highlights include an increase in Adjusted EBITDA to HK$9.03 billion from HK$7.51 billion in 2023, reflecting improved operational performance. The company’s basic loss per share improved to HK$0.52 from HK$1.16. However, the net asset value per share decreased significantly to HK$0.03 from HK$0.4. The board decided not to recommend a final dividend for the year.
Strategically, Melco International is expanding its footprint with the development of a new casino in Sri Lanka, expected to commence operations in the third quarter of 2025. The company is also navigating challenges in Cyprus due to geopolitical tensions, which may impact future business performance.
Looking ahead, Melco International remains focused on leveraging its strong cash position and available borrowing capacity to support ongoing operations and future growth initiatives. The management is cautiously optimistic about the continued recovery in its key markets and the potential for further expansion in the gaming and hospitality sectors.