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Jardine MathesonGroup Profile 2014
Jardine Matheson Holdings Limited
By Business US$m %
Jardine Pacific 110 7
Jardine Motors 59 4
Jardine Lloyd Thompson 76 5
Hongkong Land 385 25
Dairy Farm 307 20
Mandarin Oriental 56 4
Jardine Cycle & Carriage 35 2
Astra 508 33
1,536 100
Corporate and other interests (34)
Underlying profit 1,502
By Sector US$m %
Motor vehicles 360 23
Property 390 24
Retail & restaurants 313 20
Financial services 202 13
Engineering, construction & equipment 177 11
Agribusiness 41 3
Aviation, shipping services & others 48 3
Hotels 56 3
1,587 100
Corporate and unallocated costs (85)
Underlying profit 1,502
US$m
Revenue together with revenue of associates and joint ventures† 61,380
Underlying profit before tax# 4,600
Underlying profit attributable to shareholders# 1,502
Profit attributable to shareholders 1,566
Shareholders’ funds 18,386
2013 Financial Highlights*
Analysis of Underlying Profit in 2013
The financial statements of Jardine Matheson Holdings Limited for the year ended 31st December 2013 are available from www.jardines.com.
Includes 100% of revenue from associates and joint ventures.
The Group uses ‘underlying profit’ in its internal financial reporting to distinguish between ongoing business performance and non-trading items, as more fully described in note 1 to the 2013 financial statements. Management considers this to be a key measure which provides additional information to enhance understanding of the Group’s underlying business performance.
Excluding net debt of financial services companies.
Opposite: Dairy Farm’s Mannings health and beauty store in Hong Kong.
*†
#
^
US$m
Total equity 42,782
Net debt^ 2,601
Total Equity and Net Debt^ at 31st December 2013
By Geographical Area US$m %
Greater China 648 42
Southeast Asia 803 52
United Kingdom 60 4
Rest of the world 25 2
1,536 100
Corporate and other interests (34)
Underlying profit 1,502
Jardine Matheson was formed as a trading partnership
over 180 years ago in 1832 by William Jardine and James
Matheson. The two founders instilled an enterprising
culture into their new trading partnership, as well
as qualities such as an independent spirit, financial
prudence, commercial acumen and the understanding of
the need to build strong relationships in business. Over
the years, these qualities have helped those working for
Jardines overcome many challenges and to consolidate its
leading position in Asia.
Since Jardines’ formation, there has been a constant
evolution in the nature of its business interests as they
kept pace with the times. Today, its businesses are at the
forefront of their chosen markets. They include motor
vehicles and related activities, property investment and
development, retailing and restaurants, engineering and
construction, transport services, luxury hotels, financial
services, heavy equipment, mining and agribusiness.
Jardine Matheson holds interests in Jardine Pacific, Jardine
Motors and Jardine Lloyd Thompson, while through the
83%-held Group holding company, Jardine Strategic, it
is interested in Hongkong Land, Dairy Farm, Mandarin
Oriental and Jardine Cycle & Carriage, which in turn has
a shareholding in Astra International. It has a minority
interest in Zhongsheng Group, one of mainland China’s
leading motor dealership groups. Jardine Strategic also
has a 56% shareholding in Jardine Matheson.
The Jardine Matheson Group is active principally in the
markets of Asia, and employs 390,000 people. Through
a balance of cash producing activities, investment in new
businesses and long-term property assets, the Group aims
to produce sustained growth in shareholder value.
Jardine Matheson achieved an increased underlying profit
in 2013 of US$1,502 million. The gross revenue of the
Group in 2013, including 100% of associates and joint
ventures, was US$61.4 billion, an increase of 2%.
Jardine Matheson Holdings Limited is incorporated in
Bermuda and has its primary listing on the London Stock
Exchange, with secondary listings in Bermuda and Singapore.
Jardine Matheson Limited operates from Hong Kong and
provides management services to Group companies.
April 2014
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Jardine Lloyd Thompson is one of the world’s largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. Headquartered and listed in London, the group offers services in over 135 countries and has a significant presence in the Asia-Pacific region.(42%)
Jardine Pacific represents a number of the Group’s non-listed Asian businesses operating in a range of industry sectors such as engineering and construction, transport services, restaurants and IT services. Included within its portfolio are interests in Hong Kong Air Cargo Terminals, Gammon, Jardine Schindler, JEC and JOS, as well as certain Pizza Hut and KFC franchises.(100%)
Hongkong Land is one of Asia’s premier listed property groups. Its interests include some 800,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong and Singapore. Hongkong Land also develops premium residential projects in cities across Greater China and Southeast Asia. In Singapore, its subsidiary, MCL Land, is a well-established residential developer.(50%)
Jardine Motors is engaged in the sales and service of motor vehicles and related activities. It operates in Hong Kong, Macau and mainland China, where it primarily represents Mercedes-Benz. It is also active in the United Kingdom where it is one of the largest independent dealership groups representing a broad range of luxury marques including Aston Martin, Audi and Volkswagen, Jaguar and Land Rover, Mercedes-Benz and Porsche.(100%)
The percentages shown in brackets give the effective Group ownership at 20th March 2014.
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Jardine Cycle & Carriage is a leading Singapore-listed holding company with an interest of just over 50% in Astra in Indonesia. The group is also a premier motor vehicle distributor and retailer in Singapore, the largest Mercedes-Benz dealer in Malaysia, and has further motor interests in Indonesia, Vietnam and Myanmar. Together with Astra, Jardine Cycle & Carriage represents some of the world’s leading motoring marques including Mercedes-Benz, Toyota, Honda, Kia and Mazda.(73%)
Dairy Farm is a listed pan-Asian retail group operating over 5,800 outlets and employing some 100,000 people. It had gross sales in 2013 exceeding US$12 billion. Dairy Farm offers wholesome food and quality consumer and durable goods at competitive prices through supermarkets, hypermarkets, convenience stores, health and beauty stores, home furnishings stores and restaurants. It has brands such as Wellcome, Cold Storage, Giant, Hero, 7-Eleven, Mannings, Guardian, IKEA and its 50%-owned Maxim’s.(78%)
Astra is a listed diversified Indonesian group embracing six core businesses comprising automotive, financial services, heavy equipment and mining, oil palm plantations, infrastructure and logistics, and information technology. It is the largest independent automotive group in Southeast Asia, and manufactures, assembles, distributes and retails motor cars and motorcycles in partnership with industry leaders such as Toyota, Daihatsu and Honda. It also manufactures and distributes automotive components for the domestic and export markets. Astra employs some 197,000 people. (50%)
Mandarin Oriental is a listed hotel investment and management group operating some of the world’s most prestigious hotels and resorts. They include the acclaimed Mandarin Oriental, Hong Kong and Mandarin Oriental, Bangkok, with other deluxe hotels located in prime destinations such as London, New York and Tokyo. The group has 44 hotels and resorts worldwide, including 18 under development. The group also operates ‘The Residences at Mandarin Oriental’ connected to its properties. It regularly receives awards for outstanding service and quality management.(74%)
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Group Offices
Jardine Matheson Holdings LtdJardine HouseHamiltonBermuda
Jardine Matheson Ltd48th Floor, Jardine HouseG.P.O. Box 70Hong KongTelephone (852) 2843 8288Email [email protected] www.jardines.com
DirectorsBen Keswick, ChairmanAdam Keswick, Deputy ChairmanMark GreenbergDavid HsuY.K. PangJames RileyGiles White
Matheson & Co., Ltd3 Lombard StreetLondon EC3V 9AQUnited KingdomTelephone (44 20) 7816 8100Email [email protected] www.matheson.co.uk Lord Leach of Fairford
Jardine Pacific Ltd25th Floor, Devon HouseTaikoo Place979 King’s RoadQuarry BayHong KongTelephone (852) 2579 2888Email [email protected] Ben Birks
Jardine Motors Group Ltd25th Floor, Devon HouseTaikoo Place979 King’s RoadQuarry BayHong KongTelephone (852) 2579 2888Email [email protected] Adam Keswick
Jardine Lloyd Thompson Group plcThe St Botolph Building138 Houndsditch London EC3A 7AWUnited KingdomTelephone (44 20) 7528 4444Email [email protected] www.jltgroup.com Dominic Burke
Hongkong Land Ltd8th FloorOne Exchange SquareCentralHong KongTelephone (852) 2842 8428Email [email protected] www.hkland.com Y.K. Pang
Dairy Farm ManagementServices Ltd11th Floor, Devon HouseTaikoo Place979 King’s RoadQuarry BayHong KongTelephone (852) 2299 1888Email groupcomm@ dairy-farm.com.hkWebsite www.dairyfarmgroup.com Graham D. Allan
Mandarin Oriental Hotel GroupInternational Ltd7th Floor281 Gloucester RoadCauseway BayHong KongTelephone (852) 2895 9288Email [email protected] www.mandarinoriental.com Edouard Ettedgui
Jardine Cycle & Carriage Ltd239 Alexandra RoadSingapore 159930Telephone (65) 6473 3122Email corporate.affairs@ jcclgroup.comWebsite www.jcclgroup.com Alex Newbigging
PT Astra International TbkJl. Gaya Motor Raya No. 8Sunter II, Jakarta 14330IndonesiaTelephone (62 21) 652 2555Email [email protected] www.astra.co.id Prijono Sugiarto
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Opposite: Jardine Cycle & Carriage’s Mercedes-Benz showroom in Singapore.
www.jardines.comCopyright © Jardine Matheson Limited, 2014All rights reserved.
