Dividend History and Financial Overview
CLP Group - Cash Flow and Financial Structure
HK$M
Cash Flow
EBITDAF
Less: Items affecting comparability
Recurring EBITDAF
1H2021
1H2020
Cash Flow
11,423
12,628
1,530
119
12,953
12,747
Less: Movement in SoC items
(3)
(432)
Less: Movement in working capital & others
(4,501)
(3,963)
Funds from operations
8,449
Less: Tax paid
(1,902)
8,352
(1,858)
Less: Net finance costs paid
(948)
(1,003)
Less: Maintenance capex
(567)
(465)
Add: Dividends from joint ventures & an associate
1,413
1,265
Free Cash Flow
6,445
6,291
(1)
Capital Investments
(2)
•
SoC capex
Higher free cash flow mainly reflected improved SoC inflows on higher sales
and favourable working capital movements offset by higher maintenance
capex in Australia
Capital Investments
HK$4.9 billion SoC capex related to enhancement of transmission and
distribution networks and generation facilities including construction of
CCGT units and Offshore LNG Terminal
Growth capex mainly included our investments in renewable projects in
Mainland China and India, as well as commencement of construction works
for Tallawarra B and turbine upgrade at Mount Piper in Australia
Maintenance capex mainly works at Yallourn and Ecogen in Australia
Other capex mainly related to intangible additions in Australia offset by
capital repayment after divestment of two minority-owned wind projects in
China
Capital investments include fixed assets, right-of-use assets, investment property,
intangible assets, investments in and advances to joint ventures and associates,
and acquisition of business/asset
Capital expenditure on fixed assets and right-of-use assets are analysed into
•
•
SoC capex capital expenditure related to the SoC business
-
Growth capex - capital expenditure for additional generation capacity
Maintenance capex - capital expenditure other than the above
(3) Capital investments on intangibles assets and investments in and loans to joint
4,861
4,722
Maintenance capex
• Growth capex
(2)
(1)
567
465
(2)
483
248
⚫ Others
(3)
(2)
49
126
•
Acquisitions of businesses
208
Total (including Maintenance capex)
5,960
5,769
Total (excluding Maintenance capex)
5,393
5,304
Dividend paid
4,649
4,598
ventures and associates
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