碧瑤綠色 (01397.HK) 核心清潔業務 1H2022 錄可觀增長、現存未到期合約創新高

碧瑤綠色(「碧瑤」)成立於 1980 年,為香港最大的綜合環境服務集團之一,提供環
衞保潔、資源回收、循環再造、綠色科技、有機肥料生產、園藝綠化工程、蟲害防
治、廢物管理等服務。公司的主營業務主要分為四大分部,包括:(1)清潔服務;
(2)廢物處理及回收業務;(3)園藝服務;以及(4)蟲害管理業務,客戶涵蓋各行
各業及不同類型機構,如政府部門、公營機構及跨國企業集團等。
核心清潔業務上半年繼續錄得可觀增長
公司截至 2022 年 6 月底止中期(1H2022),整體收入約 714.1 百萬元(港元.下
同),按年增加約 21.6%,增加主要由於本期間內清潔分部合約及訂單數量增加導致
收益增加所致。期內,股東應佔溢利為約 17.8 百萬元(1H2021:12.2 百萬元),按年
大升約 45.3%。每股基本盈利約 4.29 仙(1H2021:2.95 仙);不派中期股息。
回顧期內,整體毛利為約 57.7 百萬元,按年增加約 17.6%;儘管清潔分部表現強勁,
但被廢物及回收分部新項目的初始運營成本部分抵銷。然而,毛利率按年下滑 0.3 個
百分點至 8.1%,主要由於廢物及回收分部新項目的初始運營成本。短期內相關收入或
會與開支不成正比。此外,園藝項目的進度延遲及高水平的蟲害管理服務市埸競爭激
烈,連同高能源價格亦對毛利率造成相對負面的影響。

Baguio Green (01397.HK) Core cleaning services recorded a considerable growth in 1H2022, contracts on hand recorded historical high

Originated in 1980, Baguio Green Group (“Baguio”) has developed into a group of providing
integrated environmental services, ranging from Professional Cleaning, Recycling, Waste
Management and Collection, Horticulture and Landscaping, and Integrated Pest
Management. The company's main business is mainly divided into four segments, including:
(1) Cleaning services business; (2) Waste management and recycling business; (3)
Landscaping services business; and (4) Pest management business, customers cover all walks
of life and different Types of institutions, such as HKSAR Government, public utilities, and
private corporations.
Core cleaning services recorded a considerable growth in 1H2022
For the six months ended 30 June 2022 (1H2022), revenue amounted to HK$714.1mn,
representing an increase of 21.6% YoY. The increase was mainly due to the increase in
revenue in cleaning segment with increase in number of contracts and orders during the
Period. Net profit attributable to equity shareholders for the period amounted to
HK$17.8mn (1H2021: HK$12.2mn), representing an increase of 45.3% YoY. Basic EPS was
HK$4.29 cents (1H2021: HK$2.95 cents), with no interim dividend

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