Studio City Finance Reports Q1 2025 Revenue Growth and Narrowed Net Loss
Summary:
-
Revenue Increase: Studio City Finance Limited reported total operating revenues of US$172.8 million for the three months ended March 31, 2025, a significant increase from US$96.4 million in the same period of 2024.
-
Operating Income: The company achieved an operating income of US$7.8 million in Q1 2025, compared to an operating loss of US$1.2 million in Q1 2024.
-
Net Loss Narrowed: Net loss for the quarter was US$0.6 million, significantly reduced from a net loss of US$9.7 million in Q1 2024.
-
EBITDA Growth: Adjusted EBITDA rose to US$28.8 million from US$19.8 million, reflecting improved operational performance.
-
Cash Position: As of March 31, 2025, cash and bank balances stood at US$503.1 million, a decrease from US$645.6 million at the end of 2024, primarily due to debt repayments and capital expenditures.
-
Total Assets and Liabilities: Total assets were US$5.78 billion as of March 31, 2025, down from US$5.97 billion at the end of 2024. Total liabilities amounted to US$6.01 billion, resulting in a shareholder deficit of US$233.9 million.
-
Debt Transactions: In April 2025, the company issued US$750 million of 7.625% senior notes due 2032 and used the proceeds to repay HK$5.49 billion and HK$333 million under the 2020 Credit Facilities.