Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) Annual Report 2021



The latest annual report of Millennium & Copthorne Hotels New Zealand Limited (MCK) was published on 31 Dec 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - MCK Annual Results

Amounts in NZD

Total Revenue
164.77M
Gross Profit
86.26M
EBIT
48.54M
Net Tangible Assets
514.19M
Net Income
40.05M
Capital Expenditures
-3.98M

MCK Income Statement 2021 Annual Report

As per the latest Income Statement of MCK, the Net revenue decreased by $-7.21M (-4%) compared to the previous period. The operating income in 2021 decreased by $-4.51M (-9%). The net income as per the annual report was 40.05M which decreased by $-8.43M (-17%) compared to previous year.

Income Statement Report (2021/2020)

2021 2020
Total Revenue 164.77M 171.98M
Gross Profit 86.26M 92.17M
Operating Income 48.54M 53.05M
Income Before Tax 64.59M 54.42M
Net Income 40.05M 48.48M

Balance Sheet - MCK 2021 Annual Report

Read further: MCK Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Millennium & Copthorne Hotels New Zealand Limited showed the company increased the cash on balance sheet by $37.38M (180%). The Net tangible assets of MCK on the balance sheet were at 514.19M which is $39.52M (8%) more than previous annual report. The total stockholder equity also increased by $39.52M (8%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

2021 2020
Cash 58.14M 20.77M
Total Assets 680.8M 664.15M
Long Term Debt - 38M
Total Liabilities 63M 94.17M
Total Shareholder Equity 514.19M 474.67M
Net Tangible Assets 514.19M 474.67M

Cash Flow Statement - MCK 2021 Annual Report

The 2021 annual cash flow statement of Millennium & Copthorne Hotels New Zealand Limited showed that the net income decreased by $-8.43M (-17%) compared to previous reporting period. Also the capital expenditure of MCK increased by $1.98M (33%).

As of 2021, the total cash from investing activities was 49.73M and total cash from financing activities was -42.49M.

Cash Flow Statement Report (2021/2020)

2021 2020
Net Income 40.05M 48.48M
Capital Expenditures -3.98M -5.96M
Dividends Paid - -11.87M
Total Cash From From Investing Activities 49.73M -64.4M
Total Cash From From Financing Activities -42.49M -46.11M

Millennium & Copthorne Hotels New Zealand Limited Annual Report History

Income Statement

Income Statement history of Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Total Revenue 164.77M 171.98M 229.67M 218.84M
Cost Of Revenue 78.51M 79.81M 97.63M 89M
Gross Profit 86.26M 92.17M 132.04M 129.83M
Research Development - - - -
Selling General Administrative 19.97M 20.59M 24.56M 24.83M
Non Recurring - - - -
Other Operating Expenses 17.75M 18.53M 23.25M 21.92M
Total Operating Expenses 116.24M 118.94M 145.43M 135.76M
Operating Income 48.54M 53.05M 84.24M 83.08M
Total Other Income Expense Net 16.06M 1.37M 1.17M 2.02M
Ebit 48.54M 53.05M 84.24M 83.08M
Interest Expense -1.26M -2.01M -2.65M -1.74M
Income Before Tax 64.59M 54.42M 85.4M 85.1M
Income Tax Expense 13.87M -4.41M 23.13M 23.15M
Minority Interest 103.61M 95.31M 91.75M 83.61M
Net Income From Continuing Ops 50.72M 58.82M 62.27M 61.96M
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 40.05M 48.48M 49.66M 49.38M
Net Income Applicable To Common Shares 40.05M 48.48M 49.66M 49.38M

Balance Sheet Statement

Balance Sheet Statement history of Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Cash 58.14M 20.77M 43.18M 14.44M
Short Term Investments 121.5M 177.27M 122.05M 108.29M
Net Receivables 15.43M 12.17M 21.14M 21.52M
Inventory 28.1M 43.69M 53.5M 58.71M
Total Current Assets 223.17M 256.03M 239.87M 202.95M
Long Term Investments 2k 2k 2k 2k
Property Plant Equipment 245.78M 247.91M 591.75M 532.12M
Other Assets 211.84M 160.21M 176.58M 163.11M
Total Assets 680.8M 664.15M 1.01B 898.18M
Accounts Payable 5.23M 1.69M 2.49M 2.9M
Short Long Term Debt 1M - - -
Other Current Liab 20.87M 21.12M 23.29M 24.83M
Other Liab 9.3M 9.33M 84.97M 75.84M
Minority Interest 103.61M 95.31M 91.75M 83.61M
Total Current Liabilities 37.84M 32.83M 34.86M 34.47M
Total Liab 63M 94.17M 201.2M 174.31M
Common Stock 383.27M 383.27M 383.27M 383.27M
Retained Earnings 132.97M 93.13M 60.84M 23.04M
Treasury Stock -2.05M -1.73M 271.15M 233.95M
Other Stockholder Equity -2.02M -1.7M 271.18M 233.98M
Total Stockholder Equity 514.19M 474.67M 715.25M 640.26M
Net Tangible Assets 514.19M 474.67M 715.25M 640.26M
Long Term Debt - 38M 67M 64M

Cash Flow Statement

Cash Flow Statement history of Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Net Income 40.05M 48.48M 49.66M 49.38M
Depreciation 8.38M 9.13M 9.72M 8.19M
Change To Netincome -6.64M -13.16M 10.18M 13.94M
Change To Account Receivables -3.26M 8.97M -1.27M -3.79M
Change To Liabilities 7.2M 1.67M 2.02M 4.45M
Change To Inventory -16.19M 30.56M -8.46M -42.86M
Change To Operating Activities -513k 436k 1.69M 383k
Total Cash From Operating Activities 29.02M 86.1M 63.54M 29.69M
Capital Expenditures -3.98M -5.96M -6.92M -11.88M
Investments 55.78M -55.23M -13.76M -19.4M
Total Cashflows From Investing Activities 49.73M -64.4M -20.56M -33.73M
Net Borrowings -38.58M -30.43M 1.61M -2M
Other Cashflows From Financing Activities -3.91M -3.81M -4.3M -4.23M
Total Cash From Financing Activities -42.49M -46.11M -14.55M -15.72M
Effect Of Exchange Rate 1.12M 2M 326k 8k
Change In Cash 37.38M -22.42M 28.75M -19.76M
Dividends Paid - -11.87M -11.87M -9.49M