The board of directors (the "Directors" and the "Board" respectively) of Digital Domain Holdings Limited (the "Company") announces the unaudited consolidated interim results of the Company and its subsidiaries (the "Group") for the six months ended 30 June 2022 (the "Review Period") together with comparative figures for the corresponding period in
2021 as follows:
CONDENSED CONSOLIDATED INCOME STATEMENT - UNAUDITED
FOR THE SIX MONTHS ENDED 30 JUNE 2022
For the six months ended 30 June | |||
2022 | 2021 | ||
Notes | HK$'000 | HK$'000 | |
Revenue | 4 | 482,726 | 414,663 |
Cost of sales and services rendered | (412,125) | (350,807) | |
Gross profit | 70,601 | 63,856 | |
Other income and gains | 4,882 | 55,520 | |
Selling and distribution expenses | (1,794) | (2,719) | |
Administrative expenses and other net operating expenses | (175,782) | (182,560) | |
Finance costs | 5 | (12,196) | (12,913) |
Impairment loss on trade receivables and contract assets | (389) | (5,164) | |
Impairment loss on amounts due from associates | (4,731) | (3,949) | |
Share of losses of associates | (1) | (17,743) | |
Fair value loss on financial assets measured at fair value through profit or loss | 11 | (7,854) | (16,394) |
Loss before taxation | 6 | (127,264) | (122,066) |
Taxation | 7 | 811 | 275 |
Loss for the period | (126,453) | (121,791) | |
Loss attributable to: | |||
- Owners of the Company | (118,458) | (103,796) | |
- Non-controlling interest | (7,995) | (17,995) | |
(126,453) | (121,791) | ||
Loss per share attributable to the owners of the Company: | (Re-presented) | ||
- Basic and diluted | 8 | HK cents (2.736) | HK cents (2.563) |
DIGITAL DOMAIN HOLDINGS LIMITED INTERIM REPORT 2022
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CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - UNAUDITED
FOR THE SIX MONTHS ENDED 30 JUNE 2022
For the six months ended 30 June | |||
2022 | 2021 | ||
HK$'000 | HK$'000 | ||
Loss for the period | (126,453) | (121,791) | |
Other comprehensive income | |||
Items that may be reclassified subsequently to profit or loss: | |||
Currency translation differences | (17,576) | (3,436) | |
Share of other comprehensive income of associates | 4 | (537) | |
Share of other comprehensive income of a joint venture | (34) | 10 | |
Other comprehensive income for the period, net of tax | (17,606) | (3,963) | |
Total comprehensive income for the period | (144,059) | (125,754) | |
Total comprehensive income attributable to: | |||
- Owners of the Company | (136,169) | (108,377) | |
- Non-controlling interest | (7,890) | (17,377) | |
(144,059) | (125,754) | ||
DIGITAL DOMAIN HOLDINGS LIMITED INTERIM REPORT 2022
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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2022
Unaudited | Audited | ||
30 June | 31 December | ||
Notes | 2022 | 2021 | |
HK$'000 | HK$'000 | ||
Non-current assets | |||
Property, plant and equipment | 70,828 | 83,791 | |
Right-of-use assets | 9 | 90,819 | 56,314 |
Intangible assets | 532,458 | 533,994 | |
Interests in associates | 31,497 | 34,730 | |
Interest in a joint venture | 10 | 37 | 71 |
Financial asset measured at fair value through other comprehensive income ("FVOCI") | - | - | |
Financial assets measured at fair value through profit or loss ("FVTPL") | 11 | 57,532 | 70,151 |
Deposits | 13 | 8,832 | 7,344 |
Deferred tax assets | 647 | 681 | |
792,650 | 787,076 | ||
Current assets | 13 | ||
Trade receivables, other receivables and prepayments | 140,705 | 140,710 | |
Contract assets | 29,290 | 24,558 | |
Tax recoverable | 348 | - | |
Bank balances and cash | 160,701 | 247,755 | |
331,044 | 413,023 | ||
Current liabilities | 14 | ||
Trade payables, other payables and accruals | 198,529 | 170,845 | |
Lease liabilities | 25,885 | 26,567 | |
Contract liabilities | 103,967 | 86,707 | |
Borrowings | 71,494 | 49,646 | |
Tax payable | 5,113 | 7,604 | |
404,988 | 341,369 | ||
Net current (liabilities)/assets | (73,944) | 71,654 | |
Total assets less current liabilities | 718,706 | 858,730 | |
Non-current liabilities | 14 | ||
Other payable | 6,324 | 10,304 | |
Borrowings | 215,375 | 238,758 | |
Lease liabilities | 84,246 | 52,352 | |
Deferred tax liabilities | 45,986 | 46,530 | |
351,931 | 347,944 | ||
NET ASSETS | 366,775 | 510,786 | |
Capital and reserves | 15 | ||
Share capital | 43,290 | 43,290 | |
Reserves | 406,461 | 542,582 | |
Equity attributable to owners of the Company | 449,751 | 585,872 | |
Non-controlling interest | (82,976) | (75,086) | |
TOTAL EQUITY | 366,775 | 510,786 | |
DIGITAL DOMAIN HOLDINGS LIMITED INTERIM REPORT 2022
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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - UNAUDITED
FOR THE SIX MONTHS ENDED 30 JUNE 2022
Attributable to owners of the Company | |||||||||||
Share | Exchange | Non- | |||||||||
Share | Share | FVOCI | Contributed | options | fluctuation | Accumulated | controlling | ||||
capital | premium | reserve | surplus | reserve | reserve | Other reserve | losses | Total | interest | Total equity | |
HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | |
As at 1 January 2022 | 43,290 | 131,996 | (196,213) | 984,302 | 183,805 | (12,529) | 3,868 | (552,647) | 585,872 | (75,086) | 510,786 |
Recognition of equity-settled | |||||||||||
share-based payment expenses | - | - | - | - | 48 | - | - | - | 48 | - | 48 |
Loss for the period | - | - | - | - | - | - | - | (118,458) | (118,458) | (7,995) | (126,453) |
Currency translation differences | - | - | - | - | - | (17,681) | - | - | (17,681) | 105 | (17,576) |
Share of other comprehensive income | |||||||||||
of associates | - | - | - | - | - | 4 | - | - | 4 | - | 4 |
Share of other comprehensive income | |||||||||||
of a joint venture | - | - | - | - | - | (34) | - | - | (34) | - | (34) |
Total comprehensive income for the | |||||||||||
period | - | - | - | - | - | (17,711) | - | (118,458) | (136,169) | (7,890) | (144,059) |
As at 30 June 2022 | 43,290 | 131,996 | (196,213) | 984,302 | 183,853 | (30,240) | 3,868 | (671,105) | 449,751 | (82,976) | 366,775 |
Attributable to owners of the Company | |||||||||||
(Accumulated | Non- | ||||||||||
Share | Exchange | losses)/ | |||||||||
Share | Share | FVOCI | Contributed | options | fluctuation | retained | controlling | ||||
capital | premium | reserve | surplus | reserve | reserve | Other reserve | profits | Total | interest | Total equity | |
HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | |
As at 1 January 2021 | 340,754 | 1,984,773 | (196,213) | 594,690 | 181,949 | 4,482 | 3,868 | (2,072,872) | 841,431 | (28,560) | 812,871 |
Recognition of equity-settled | |||||||||||
share-based payment expenses | - | - | - | - | 1,235 | - | - | - | 1,235 | - | 1,235 |
Issue of shares on subscription, net of | |||||||||||
expenses | 68,148 | 272,287 | - | - | - | - | - | - | 340,435 | - | 340,435 |
Capital contribution from | |||||||||||
non-controlling interest | - | - | - | - | - | - | - | - | - | 122,757 | 122,757 |
Transfer of share premium to | |||||||||||
contributed surplus | - | (2,257,060) | - | 2,257,060 | - | - | - | - | - | - | - |
Set-off of contributed surplus against | |||||||||||
accumulated losses | - | - | - | (2,257,060) | - | - | - | 2,257,060 | - | - | - |
Loss for the period | - | - | - | - | - | - | - | (103,796) | (103,796) | (17,995) | (121,791) |
Currency translation differences | - | - | - | - | - | (4,054) | - | - | (4,054) | 618 | (3,436) |
Share of other comprehensive income | |||||||||||
of associates | - | - | - | - | - | (537) | - | - | (537) | - | (537) |
Share of other comprehensive income | |||||||||||
of a joint venture | - | - | - | - | - | 10 | - | - | 10 | - | 10 |
Total comprehensive income for the | |||||||||||
period | - | - | - | - | - | (4,581) | - | (103,796) | (108,377) | (17,377) | (125,754) |
As at 30 June 2021 | 408,902 | - | (196,213) | 594,690 | 183,184 | (99) | 3,868 | 80,392 | 1,074,724 | 76,820 | 1,151,544 |
DIGITAL DOMAIN HOLDINGS LIMITED INTERIM REPORT 2022 |
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Digital Domain Holdings Limited published this content on 16 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2022 10:44:08 UTC.