not vested
SANDS CHINA LTD 3Q Adjusted Property EBITDA Down 32.8% to US$545M
SANDS CHINA LTD(01928.HK) announced that on a US GAAP basis, its total net revenues decreased 28.8% year-on-year to US$1.66 billion as of the end September 2015.
Adjusted property EBITDA fell 32.8% year-on-year to US$545 million (Deutsche Bank forecast: US$517 million).
Net income amounted to US$343 million, down 46.8% from a year earlier.
LVS chairman and chief executive officer Sheldon G. Adelson said he has always been clear that the group's unique MICE-based integrated resort business model positively differentiates it from its competitors, in terms of both financial performance and economic contribution to host jurisdictions.
In Macau, the company's hold-normalized EBITDA rose quarter on quarter, with continued sequential improvement in operating margin.
As for the third quarter, on a hold-normalized basis, Sands China's EBITDA totaled US$537 million, up 1% over the previous quarter.
Source: AAStocks Financial News
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Sands China 1928
Re: Sands China 1928
by winston » Thu Oct 22, 2015 9:18 am
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Re: Sands China 1928
by winston » Thu Oct 22, 2015 2:36 pm
Brokers Latest Ratings & TPs for SANDS CHINA LTD (01928.HK)
SANDS CHINA LTD (01928.HK) announced that on the US GAAP basis, the adjusted property EBITDA fell 32.8% year-on-year to US$545 million as of the end of September.
The latest investment ratings and target prices given by ten brokers for Sands China are shown as follows:
Broker / Investment Rating / Target Price (HK$)
Bernstein / Outperform / 37
Citigroup / Buy / 36
CIMB / Accumulate / 34.65
Nomura / Buy / 35->34.2
JP Morgan / Overweight / 32.5
HSBC / Hold / 32.3->32
Goldman Sachs / Neutral / 28.7->28.5
UBS / Neutral / 29.9
Macquarie / Neutral / 28.5
Morgan Stanley / Equalweight / 25
Source: AAStocks Financial News
SANDS CHINA LTD (01928.HK) announced that on the US GAAP basis, the adjusted property EBITDA fell 32.8% year-on-year to US$545 million as of the end of September.
The latest investment ratings and target prices given by ten brokers for Sands China are shown as follows:
Broker / Investment Rating / Target Price (HK$)
Bernstein / Outperform / 37
Citigroup / Buy / 36
CIMB / Accumulate / 34.65
Nomura / Buy / 35->34.2
JP Morgan / Overweight / 32.5
HSBC / Hold / 32.3->32
Goldman Sachs / Neutral / 28.7->28.5
UBS / Neutral / 29.9
Macquarie / Neutral / 28.5
Morgan Stanley / Equalweight / 25
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Fri Oct 23, 2015 6:22 am
not vested
Sinking feeling at Sands amid tourism crunch
Sands China (1928), the Macau casino operator controlled by billionaire Sheldon Adelson, reported third-quarter profit fell 33 percent, missing analysts' estimates, as competition for tourists intensified in the territory's Cotai Strip area.
Adjusted earnings before interest, taxes, depreciation and amortization shrank to US$545 million (HK$4.25 billion) from US$811.6 million a year earlier, the parent company Las Vegas Sands Corp said.
That compares with the US$563 million median estimate of five analysts in a survey. Revenue shrank 29 percent to US$1.66 billion, the company said.
Sands China shares rose 0.2 percent to HK$28. Galaxy Entertainment (0027) advanced 1.9 percent, the top gainer among Macau casino stocks after it confirmed the government approved 100 additional gaming tables for its projects.
"Sands lost market share in the third quarter on some customer overlap with Galaxy Macau, which opened phase two," Karen Tang, a Deutsche Bank analyst, wrote in a note, referring to Galaxy's expansion of an existing casino-resort in the Cotai Strip.
Casino operators are building shops, tourist attractions and other non-gambling features to lure tourists as part of Macau's goal to reduce reliance on hard-core players. Sands China's Parisian Macao is targeted for a summer 2016 debut.
Adelson, who said after the results that he's seeing signs of stabilization in Macau's mass market gambling, remains apprehensive about the outlook for the world's largest gambling hub.
"It's virtually impossible for us to tell you what we how to think about Macau," he said.
Source: BLOOMBERG
Sinking feeling at Sands amid tourism crunch
Sands China (1928), the Macau casino operator controlled by billionaire Sheldon Adelson, reported third-quarter profit fell 33 percent, missing analysts' estimates, as competition for tourists intensified in the territory's Cotai Strip area.
Adjusted earnings before interest, taxes, depreciation and amortization shrank to US$545 million (HK$4.25 billion) from US$811.6 million a year earlier, the parent company Las Vegas Sands Corp said.
That compares with the US$563 million median estimate of five analysts in a survey. Revenue shrank 29 percent to US$1.66 billion, the company said.
Sands China shares rose 0.2 percent to HK$28. Galaxy Entertainment (0027) advanced 1.9 percent, the top gainer among Macau casino stocks after it confirmed the government approved 100 additional gaming tables for its projects.
"Sands lost market share in the third quarter on some customer overlap with Galaxy Macau, which opened phase two," Karen Tang, a Deutsche Bank analyst, wrote in a note, referring to Galaxy's expansion of an existing casino-resort in the Cotai Strip.
Casino operators are building shops, tourist attractions and other non-gambling features to lure tourists as part of Macau's goal to reduce reliance on hard-core players. Sands China's Parisian Macao is targeted for a summer 2016 debut.
Adelson, who said after the results that he's seeing signs of stabilization in Macau's mass market gambling, remains apprehensive about the outlook for the world's largest gambling hub.
"It's virtually impossible for us to tell you what we how to think about Macau," he said.
Source: BLOOMBERG
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Re: Sands China 1928
by winston » Tue Nov 10, 2015 10:21 am
not vested
Oct 30, 2015
<Result Ann>SANDS CHINA LTD 1Q-3Q Adjusted EBITDA Tumbles 35.58%
SANDS CHINA LTD (01928.HK) announced the third quarter results for the year ended 30 September 2015.
Net profit tumbled 46.39% over the preceding year to US$345 million.
EPS equaled US4.28 cents.
Net revenues fell 28.91% from a year earlier to US$1.649 billion.
For the first three quarters, net profit tumbled 46.1% over the previous year to US$1.079 billion, with EPS of US13.38 cents.
Net revenues dropped 30.15% year-on-year to US$5.165 billion.
Adjusted EBITDA was US$1.642 billion, representing a year-on-year decline of 35.58%.
Source: AAStocks Financial News
Oct 30, 2015
<Result Ann>SANDS CHINA LTD 1Q-3Q Adjusted EBITDA Tumbles 35.58%
SANDS CHINA LTD (01928.HK) announced the third quarter results for the year ended 30 September 2015.
Net profit tumbled 46.39% over the preceding year to US$345 million.
EPS equaled US4.28 cents.
Net revenues fell 28.91% from a year earlier to US$1.649 billion.
For the first three quarters, net profit tumbled 46.1% over the previous year to US$1.079 billion, with EPS of US13.38 cents.
Net revenues dropped 30.15% year-on-year to US$5.165 billion.
Adjusted EBITDA was US$1.642 billion, representing a year-on-year decline of 35.58%.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Tue Nov 10, 2015 10:23 am
not vested
Oct 23, 2015
<Research Report>HSBC Maintains SANDS CHINA LTD at Hold with Target Cut to $32
SANDS CHINA LTD(01928.HK) 3Q property EBITDA amounted to US$537 million, representing a quarter-on-quarter and year-on-year decrease of 4% and 34%, 5%/ 3% lower than expectation of HSBC and market estimates.
The research house pointed out that it overestimated the impact from mass reclassification and SANDS CHINA LTD's mass and non-gaming business were below forecast.
HSBC maintained SANDS CHINA LTD's rating at Neutral and cut the target price to $32 from $32.3.
Management continues to hold a neutral stance towards the political environment in Macau and believes that the focus on mass and non-gaming is in line with the government's plan.
In addition, the management believes that the new openings of casinos are beneficial for overall market growth for longer term.
It is anticipated that Parisian can be opened in the second half of 2016.
Source: AAStocks Financial News
Oct 23, 2015
<Research Report>HSBC Maintains SANDS CHINA LTD at Hold with Target Cut to $32
SANDS CHINA LTD(01928.HK) 3Q property EBITDA amounted to US$537 million, representing a quarter-on-quarter and year-on-year decrease of 4% and 34%, 5%/ 3% lower than expectation of HSBC and market estimates.
The research house pointed out that it overestimated the impact from mass reclassification and SANDS CHINA LTD's mass and non-gaming business were below forecast.
HSBC maintained SANDS CHINA LTD's rating at Neutral and cut the target price to $32 from $32.3.
Management continues to hold a neutral stance towards the political environment in Macau and believes that the focus on mass and non-gaming is in line with the government's plan.
In addition, the management believes that the new openings of casinos are beneficial for overall market growth for longer term.
It is anticipated that Parisian can be opened in the second half of 2016.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Tue Nov 10, 2015 10:24 am
not vested
Oct 22, 2015
<Research Report>G Sachs: SANDS CHINA LTD (01928.HK) Results In Line; Kept Neutral with TP of $28.5
SANDS CHINA LTD (01928.HK) 3Q15 revenue and EBITDA posted a quarter-on-quarter decline of 6% and 3% to US$1.66 billion and US$545 million respectively, in line with expectation.
The performance of Venetian and SCC was steady which partly offset by weaker results at Sands Macao and Plaza.
In an attempt to reflect the third quarter results, Goldman Sachs revised down SANDS CHINA LTD's 2015-2017 EBITDA by 1-2% and lowered the target price from $28.7 to $28.5.
The research house said that SANDS CHINA LTD offers more defensiveness with appealing dividend yield (7.1%), yet the valuation is higher than peers.
The rating was maintained at Neutral.
Source: AAStocks Financial News
Oct 22, 2015
<Research Report>G Sachs: SANDS CHINA LTD (01928.HK) Results In Line; Kept Neutral with TP of $28.5
SANDS CHINA LTD (01928.HK) 3Q15 revenue and EBITDA posted a quarter-on-quarter decline of 6% and 3% to US$1.66 billion and US$545 million respectively, in line with expectation.
The performance of Venetian and SCC was steady which partly offset by weaker results at Sands Macao and Plaza.
In an attempt to reflect the third quarter results, Goldman Sachs revised down SANDS CHINA LTD's 2015-2017 EBITDA by 1-2% and lowered the target price from $28.7 to $28.5.
The research house said that SANDS CHINA LTD offers more defensiveness with appealing dividend yield (7.1%), yet the valuation is higher than peers.
The rating was maintained at Neutral.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Tue Nov 10, 2015 10:26 am
not vested
Oct 22, 2015
<Research Report>Nomura Maintains SANDS CHINA LTD(01928.HK) at Buy with Target Cut to $34.2
Nomura, in its report, stated that SANDS CHINA LTD(01928.HK)'s net operating revenue in the third quarter was US1.66 billion, down 6% quarterly and 29% yearly.
Its property EBITDA was US$537 million, down 5% quarterly or 34% yearly, 1% below the broker's estimate of US$543 million.
The broker decided to lower the company's EBITDA in FY2015-2017 by 2%.
Its target price was trimmed from $35 to $34.2 but the investment rating was maintained at Buy.
The broker stated that SANDS CHINA LTD's base mass, retail and hotel operations have been stabilized selectively.
The industry still faces challenges while SANDS CHINA LTD is focusing on the cost control.
Source: AAStocks Financial News
Oct 22, 2015
<Research Report>Nomura Maintains SANDS CHINA LTD(01928.HK) at Buy with Target Cut to $34.2
Nomura, in its report, stated that SANDS CHINA LTD(01928.HK)'s net operating revenue in the third quarter was US1.66 billion, down 6% quarterly and 29% yearly.
Its property EBITDA was US$537 million, down 5% quarterly or 34% yearly, 1% below the broker's estimate of US$543 million.
The broker decided to lower the company's EBITDA in FY2015-2017 by 2%.
Its target price was trimmed from $35 to $34.2 but the investment rating was maintained at Buy.
The broker stated that SANDS CHINA LTD's base mass, retail and hotel operations have been stabilized selectively.
The industry still faces challenges while SANDS CHINA LTD is focusing on the cost control.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Thu Jan 28, 2016 3:26 pm
not vested
<Research Report>C Suisse Lifts Sands China Ltd's TP to $35.5; 4Q15 EBITDA Beats Estimates
Credit Suisse, in its report, said SANDS CHINA LTD (01928.HK)'s property EBITDA rose 7% quarterly to US$575 million in 4Q15, beating estimates, mainly due to effective cost control and increase in contribution from non-gaming business.
Target price was lifted from $35.1 to $35.5 to reflect the improvement in profit forecast.
Rating was maintained at Outperform due to the positive outlook of the industry and Chinese New Year demand.
The research house held positive view on the outlook of company as the group said its mass business is stable,the flowability of large junket promoters is strong and the impact of RMB devaluation on the business is limited.
As more shops of The St Regis Macao Cotai Central will be open this year, the group's quality mass business can be benefited.
With such business growth, the group will have room to raise dividend.
Source: AAStocks Financial News
<Research Report>C Suisse Lifts Sands China Ltd's TP to $35.5; 4Q15 EBITDA Beats Estimates
Credit Suisse, in its report, said SANDS CHINA LTD (01928.HK)'s property EBITDA rose 7% quarterly to US$575 million in 4Q15, beating estimates, mainly due to effective cost control and increase in contribution from non-gaming business.
Target price was lifted from $35.1 to $35.5 to reflect the improvement in profit forecast.
Rating was maintained at Outperform due to the positive outlook of the industry and Chinese New Year demand.
The research house held positive view on the outlook of company as the group said its mass business is stable,the flowability of large junket promoters is strong and the impact of RMB devaluation on the business is limited.
As more shops of The St Regis Macao Cotai Central will be open this year, the group's quality mass business can be benefited.
With such business growth, the group will have room to raise dividend.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Fri Jan 29, 2016 6:52 am
Sands bottoms out
Billionaire casino mogul Sheldon Adelson said Macau's gambling market has stabilized after Las Vegas Sands' unit in the SAR announced fourth- quarter earnings that fell less than analysts' estimates.
Sands China (1928) said adjusted earnings fell 19 percent to US$581.2 million (HK$4.53 billion).
"I thought we had either hit bottom in the mass market or were bottoming out," Adelson said.
Macau is facing headwinds as Beijing's crackdown on corruption and a slowing economy have scared away high-end gamblers from the world's largest gambling market.
While the territory's casino takings dropped 21.2 percent in December falling for the 19th straight month that represented the smallest year-on-year decline since last January. Sands China shares jumped 6.7 percent to HK$26.20.
Sands adjusted earnings in Singapore fell 35 percent to US$338.2 million.
In Las Vegas, adjusted earnings rose 25 percent to US$97.4 million.
Profit excluding some items fell to 62 cents a share.
Sales slumped to US$2.86 billion, while it raised its quarterly dividend to 72 cents a share for this year.
Source: BLOOMBERG
Billionaire casino mogul Sheldon Adelson said Macau's gambling market has stabilized after Las Vegas Sands' unit in the SAR announced fourth- quarter earnings that fell less than analysts' estimates.
Sands China (1928) said adjusted earnings fell 19 percent to US$581.2 million (HK$4.53 billion).
"I thought we had either hit bottom in the mass market or were bottoming out," Adelson said.
Macau is facing headwinds as Beijing's crackdown on corruption and a slowing economy have scared away high-end gamblers from the world's largest gambling market.
While the territory's casino takings dropped 21.2 percent in December falling for the 19th straight month that represented the smallest year-on-year decline since last January. Sands China shares jumped 6.7 percent to HK$26.20.
Sands adjusted earnings in Singapore fell 35 percent to US$338.2 million.
In Las Vegas, adjusted earnings rose 25 percent to US$97.4 million.
Profit excluding some items fell to 62 cents a share.
Sales slumped to US$2.86 billion, while it raised its quarterly dividend to 72 cents a share for this year.
Source: BLOOMBERG
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Re: Sands China 1928
by winston » Thu Feb 04, 2016 3:04 pm
SANDS CHINA LTD (01928.HK) Raises Wages by 2-6%; Pays Bonus
SANDS CHINA LTD (01928.HK) announced to pay performance bonuses to eligible full-time employees of all ranks.
Eligible full-time employees who serve for one year or above will receive a bonus of not less than one month salary.
In addition, the company will pay special bonuses in July this year to more than 25,000 full-time employees with title of manager or below, equivalent to one month salary.
The company also announced to increase salary next month.
Employees having a monthly salary of MOP12,000 or less, will have MOP500 more, representing a pay rise of 4-6%. Employees with a monthly salary more than MOP12,000 will have their salary increased by 2% on average. The salary cap for the upward adjustment is MOP45,000.
Source: AAStocks Financial News
SANDS CHINA LTD (01928.HK) announced to pay performance bonuses to eligible full-time employees of all ranks.
Eligible full-time employees who serve for one year or above will receive a bonus of not less than one month salary.
In addition, the company will pay special bonuses in July this year to more than 25,000 full-time employees with title of manager or below, equivalent to one month salary.
The company also announced to increase salary next month.
Employees having a monthly salary of MOP12,000 or less, will have MOP500 more, representing a pay rise of 4-6%. Employees with a monthly salary more than MOP12,000 will have their salary increased by 2% on average. The salary cap for the upward adjustment is MOP45,000.
Source: AAStocks Financial News
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