Swire Pacific is a Hong Kong-based international conglomerate with a diversified portfolio of market leading businesses. The Company has a long history in Greater China where the name Swire or 太古 has been established for over 150 years.
Our aims are to deliver sustainable growth in shareholder value, achieved through sound returns on equity over the long term, and to return value to shareholders through sustainable growth in ordinary dividends.
Swire Pacific is listed on the Stock Exchange of Hong Kong (HKSE: 00019/00087). Operating with three core divisions (Property, Beverages, and Aviation), Swire Pacific undertakes a wide range of commercial activities. It is the largest shareholder in two other listed companies in Hong Kong: Swire Properties Limited (Swire Properties, HKSE: 1972) and Cathay Pacific Airways Limited (Cathay Pacific, HKSE: 293).
We are one of Hong Kong’s largest and oldest employers, where we have over 32,000 employees. In the Chinese Mainland, we also have over 35,000 employees. Globally, we employ over 78,000 people1.
The Property Division comes under Swire Properties Limited. Swire Properties is a leading developer, owner, and operator of mixed-use, principally commercial, properties in Hong Kong and the Chinese Mainland (Beijing, Chengdu, Guangzhou, Shanghai, and Xi’an), and the US (Miami). Swire Properties’ business comprises three main areas: Investment Properties, Hotel Investment, and Property Trading.
The Beverages Division comes under Swire Coca-Cola, one of the largest Coca-Cola bottlers in the world. Swire Coca-Cola has the exclusive right to manufacture, market and distribute products of The Coca-Cola Company (TCCC) in 11 provinces and the Shanghai Municipality of the Chinese Mainland and in Hong Kong SAR, Taiwan region, Vietnam and Cambodia.
The disposal of 100% equity interests in the franchise business in the USA (doing business as Swire Coca-Cola, USA (SCCU)) was completed on 7th September 2023. Swire Coca-Cola continues to provide management and administrative support services to SCCU at an agreed annual management fee under a Management Services Agreement. Information in this Report relating to SCCU represents data up to completion of the disposal.
The Aviation Division comprises the wholly owned Hong Kong Aircraft Engineering Company (HAECO) Group and an associate interest in the Cathay Pacific Group2.
Hong Kong Aircraft Engineering Company (HAECO) is a leading provider of international aircraft maintenance and repair services, operating from bases in Hong Kong, the Chinese Mainland, and the US.
Cathay Pacific, with its subsidiaries HK Express and Air Hong Kong, had 230 aircraft at the end of 2023. The airlines directly connect Hong Kong to 93 destinations worldwide. It has a 16.26% interest in Air China and interests in companies providing flight catering, laundry, and passenger and ramp handling services, and owns and operates a cargo terminal at Hong Kong International Airport.
The Trading & Industrial businesses comprise Swire Resources, Taikoo Motors, Swire Foods, and Swire Environmental Services. Swire Resources retails and distributes footwear, apparel, and related accessories in Hong Kong, Macau, and the Chinese Mainland. It operated 163 retail outlets at the end of 2023. Taikoo Motors sells passenger cars, commercial vehicles, motorcycles, and scooters, almost all of them in Taiwan. Qinyuan Bakery is a leading bakery chain in southwest China, with 363 stores at the end of 2023.
Taikoo Sugar packages and sells sugar in Hong Kong and the Chinese Mainland. Swire Waste Management Limited has waste management contracts in Hong Kong.
The Marine Services Division comprised investments in Swire Pacific Offshore and Hongkong United Dockyards (HUD) Group. Swire Pacific Offshore owned and operated a fleet of vessels supporting the offshore energy industry in every major offshore production and exploration region outside the US. With the disposal of its interest in Swire Pacific Offshore in April 2022 and the sale of its 50% interest in the HUD Group in September 2021, the Group no longer operates any marine services business. Sustainability performance data is included up until the point of sale.
For further information about our Group structure and financial performance, please refer to the Swire Pacific Annual Report 2023.
| Property | Beverages | Aviation | Trading & Industrial | |
| Total revenue3 (HK$M) | 14,625 | 51,842 | 17,787 | 10,555 |
| Recurring profit4 (HK$M) | 5,942 | 2,394 | 443 | 299 |
| Tax expense5 (HK$M) | 1,616 | 1,058 | 181 | 81 |
Overview
Property
14,625
Beverages
51,842
Aviation
17,787
Trading & Industrial
10,555
Property
5,942
Beverages
2,394
Aviation
443
Trading & Industrial
299
Property
1,616
Beverages
1,058
Aviation
181
Trading & Industrial
81
Employees
Emissions
Water withdrawal
Waste generated
1. Includes companies not covered by this sustainability report (e.g. Cathay Pacific and Hong Kong Aero Engine Services Limited (HAESL)).
2. Swire Pacific holds less than half (45%) of the voting rights of Cathay Pacific. It is accounted for as an associated company and therefore excluded from this report (except under scope 3 emissions). Cathay Pacific produces its own standalone sustainability report which is available on its corporate website.
3. Revenue and tax expense figures are on consolidated basis and exclude those of joint venture and associated companies.
4. Recurring profit figure for Aviation excludes Cathay Pacific and includes HAESL.
5. Revenue and tax expense figures are on consolidated basis and exclude those of joint venture and associated companies.
6. Total employees are those at 31st December 2023 and include staff of all employment types (permanent full time staff, permanent part time staff and, in the Chinese Mainland, fixed contract staff, fixed term and temporary contract staff). On the same date, there were 58 employees directly employed by Swire Pacific (head office). Employee figures exclude Cathay Pacific Group and HAESL.
7. Total water withdrawal refers to the sum of water drawn from municipal water and groundwater. Virtually all water withdrawal by Swire Pacific is from municipal water supplies provided by local water supply authorities.