ANNOUNCES 2024 INTERIM RESULTS

Aug 21, 2024

Announces 2024 Interim Results

Results Summary

¹ Adjusted EBITD represents earnings before interest, tax and depreciation charge on the self-owned flagship store, which reflects the Group’s core operating performance. The Group has fully adopted the HKFRS16, which amortisation of right-of-use assets associated with rental lease agreements were included.

(Hong Kong, 21 August 2024) Emperor Watch & Jewellery Limited (“Group” or “Emperor W&J”) (Stock code: 887), a leading retailer of European-made watches and fine jewellery, announced its interim results for the six months ended 30 June 2024 (“Period”).

The Group’s total revenue grew by 11.5%, to HK$2,597 million (2023: HK$2,330 million) during the Period. Revenues from Hong Kong and Mainland China were HK$1,465 million (2023: HK$1,153 million) and HK$665 million (2023: HK$712 million), respectively, accounting for 56.4% (2023: 49.5%) and 25.6% (2023: 30.6%) of the total revenue, respectively. In terms of revenue by product segment, the sales revenue from the watch segment was HK$1,632 million (2023: HK$1,786 million), accounting for 62.8% (2023: 76.7%) of the total revenue, and the sales revenue from the jewellery segment increased by 77.4% to HK$965 million (2023: HK$544 million), accounting for 37.2% (2023: 23.3%) of the total revenue.

Gross profit was up by 7.6% to HK$780 million (2023: HK$725 million). The Group’s net profit was broadly stable at HK$185 million (2023: HK$186 million) during the Period. Basic earnings per share was HK2.72 cents (2023: HK2.74 cents). The Board declares an interim dividend of HK0.65 cent (2023: HK0.76 cent) per share.

As at 30 June 2024, the Group had a total of 90 stores in Hong Kong, Macau, Mainland China, Singapore and Malaysia. During the Period, the Group newly opened a total of four jewellery stores in Macau and Mainland China, to expand market coverage.

Ms. Cindy Yeung, Chairperson of Emperor W&J, said, “Going forward, the Group plans to lead branding and marketing activities and strives to enhance customer relationship management in a more effective and efficient manner, to maximise the brand exposure. Leveraging its brand reputation, the Group will continue expanding in the China and Southeast Asia markets, to seize the ample opportunities. Notwithstanding the near-term uncertainties, the Group will closely monitor the market situation and promptly respond to changes as appropriate, and will be cautious in the course of footprint expansion. Meanwhile, the Group remains committed to seeking and seizing new opportunities, and is well-prepared to excel in changing times.”

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About Emperor Watch & Jewellery Limited

With long establishment history of over 80 years in Hong Kong since 1942, Emperor W&J (887.HK) is a leading retailer principally engages in the sale of European-made internationally renowned watches, and jewellery products under its own brand, “Emperor Jewellery”. Through its comprehensive watch dealership, unique marketing campaigns and extensive retail network at prime locations in Hong Kong, Macau, Mainland China, Singapore and Malaysia, Emperor W&J established a strong brand image amongst its target customers ranging from middle to high income groups worldwide. In recognition of its efforts in investor relations communications, Emperor W&J was granted with “Best IR Company” (Small Cap) and “Best Investor Presentation Material” (Small cap) in HKIRA Investor Relations Awards 2024 by the Hong Kong Investor Relations Association. For more information, please visit its website: www.EmperorWatchJewellery.com.

Investor/Media Enquiries

Anna Luk                                                                Janice Au

Group Investor Relations Director                    Group Investor Relations Manager

Tel: +852 2835 6783                                             Tel: +852 2835 6799

Email: annaluk@emperorgroup.com               Email: janiceau@emperorgroup.com