Dividend History and Financial Overview
Reconciliation of Operating Earnings to ACOI
HK$M
1H2021
1H2020
Change
Operating Earnings
5,698
6,129
7.0%
(Attributable to CLP)
Exclude:
Fair value
264
397
adjustments
Net finance costs (1)
(925)
(880)
Income tax expense
(1,571)
(1,576)
Non-controlling
(449)
(434)
interests
ACOI
8,379
8,622
2.8%
(1) Included the distribution to perpetual capital securities holders
Adjusted Current Operating Income or ACOI
ACOI equals EBIT excluding items affecting
comparability and fair value adjustments, and
includes the Group's share in net earnings from joint
ventures and associates
Fair value adjustments
Predominantly favourable movement as a result of
EnergyAustralia's energy derivative contracts
impacted by lower forward electricity prices
in both periods
Net finance costs (1)
Moderate
increase in net finance cost mainly
attributable to higher average debt level partly offset
by lower average interest rates
Income tax expense
Higher tax from higher earnings from Hong Kong,
mostly offset by lower tax from lower earnings from
Australia
Non-controlling interests
CSG's 30% share of CAPCO
CLP ● 中電 120
years 同行望遠
of shared vision
CDPQ's 40% share of CLP India
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