The following is a summary of the CLP Holdings Limited (CLPHY) Q2 2024 Earnings Call Transcript:

Financial Performance:

• CLP Holdings reported a strong financial performance with operating earnings before fair value movements increasing by 22% year-on-year to nearly HK$5.7 billion.

• Earnings per share after fair value increased to HK$2.32, and a second interim dividend of HK$0.63 per share was recommended, equal to the first dividend.

• Total earnings were up 18% to nearly HK$6 billion, representing HK$2.36 per share.

Business Progress:

• CLP Holdings has made significant progress in transitioning to a low-carbon energy portfolio. Notable achievements include the operation of the 600 megawatt D2 unit in Hong Kong, enabling the gradual retirement of coal-fired units, and the first fire at Tallawarra B in Australia.

• The company continues to make strides in its development plans in Hong Kong, renewable energy projects in China and India, and battery storage developments in Australia.

Opportunities:

• The energy transition opens substantial opportunities for CLP Holdings, especially with increasing power demand and pushes towards electrification and decarbonization in markets like China and India.

• The development of the 350 megawatt Wooreen battery in Victoria and a 50 megawatt battery system at Hallett Power Station in South Australia adds to the company's portfolio of renewable energy projects.

Risks:

• Despite a strong start, the company acknowledged operational risks such as extreme weather events and power supply incidents impacting network reliability in Hong Kong.

More details: CLP HOLDINGS LTD IR

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