Uni President China : PRESENTATION ON 2020 INTERIM RESULTS
08/13/2020 | 12:16am EST
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(a company incorporated in the Cayman Islands with limited liability)
(Stock Code: 220)
PRESENTATION ON 2020 INTERIM RESULTS
A presentation in relation to the results of Uni-President China Holdings Ltd. and its subsidiaries for the six months ended 30 June 2020 is appended to this announcement.
On behalf of the Board
Uni-President China Holdings Ltd.
Lo Chih-Hsien
Chairman
Hong Kong, 13 August 2020
As at the date of this announcement, the Board comprised Mr. Lo Chih-Hsien and Mr. Liu Xinhua as executive directors; Mr. Chen Kuo-Hui and Mr. Su Tsung-Ming as non-executive directors; and Mr. Chen Sun-Te, Mr. Chen Johnny, Mr. Fan Ren-Da, Anthony and Mr. Lo Peter as independent non-executive directors.
2020 Interim Results
13 August, 2020
Disclaimers
The information contained in this presentation is intended solely for your personal reference. Such information is subject to change without notice and no representation or warranty express or implied is made as to, and no reliance, should be placed on, the fairness, accuracy, completeness or correctness of the information contained in this presentation. This presentation does not intend to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects. None of the Company nor any of its respective affiliates, advisors or representatives shall have any liability (in negligence or otherwise) whatsoever for any loss or damage howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.
This presentation contains projections and forward-looking statements that may reflect the Company's current views with respect to future events and financial performance. Readers are cautioned not to place undue reliance on these forward-looking statements which are subject to various risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This presentation does not constitute an offer or invitation to purchase or subscribe for any securities or financial instruments or the provision of any investment advice, and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto, nor does this presentation constitute a recommendation regarding the securities or financial instruments of the Company.
Results Highlight
(In RMB mn unless otherwise noted)
1H20
1H19
YoY
Revenue
11,817
11,470
3.0%
Gross profit
4,226
4,195
0.7%
Gross margin
35.8%
36.6%
-0.8 ppts
Operating profit
1,389
1,305
6.4%
Operating margin
11.8%
11.4%
0.4 ppts
Pretax profit
1,495
1,392
7.4%
Pretax margin
12.6%
12.1%
0.5 ppts
Net profit
1,065
997
6.8%
Net margin
9.0%
8.7%
0.3 ppts
EPS (RMB cents)
24.66
23.09
6.8%
ROE *
7.9%
7.6%
0.3 ppts
*ROE figures are based on average equity attributable to shareholders of the company
3
Earnings drivers (1H20)
(RMB mn)
1H20 vs. 1H19
+3.0% YoY
+6.4% YoY
+7.4% YoY
+6.8% YoY
Positive
Gross Margin
OP Margin
Pretax Margin
Net Margin
Negative
35.8% -0.8 ppts
11.8% +0.4 ppts
12.6% +0.5 ppts
9.0% +0.3 ppts
* Including selling and marketing, administrative, other income/expenses and other gains/ (losses) - net
4
Financial Highlights
1H20
2019
1H19
(RMB mn)
Amount
%
Amount
%
Amount
%
Cash*
6,104
28%
6,484
30%
5,096
25%
Borrowings**
2,456
11%
1,163
5%
1,978
10%
Total Assets
22,010
100%
21,757
100%
20,527
100%
Total Equity
13,327
61%
13,633
63%
13,173
64%
(Borrowings** - Cash*)/ Equity
-27.4%
-39.0%
-23.7%
Current Ratio
79.1%
91.8%
97.0%
Trade Receivable Turnover Days
9
9
9
Inventories Turnover Days
35
41
32
Trade Payable Turnover Days
40
42
39
Including cash and bank balances, and long-term time deposits
excluding lease liabilities
5
Revenue breakdown by product
Total Revenue (RMB mn)
1H19 Revenue mix
1H20 Revenue mix
Food revenue growth of 22% YoY in 1H20. The Group delivered instant noodles to places where consumers had the most urgent needs, and we will launch
differentiated innovative products selectively. "Kai Xiao Zao" revenue grow multiple times in 1H20.
* Food segment include self-heating rice meals "Kai Xiao Zao（開小灶）"
6
Beverage rev* breakdown by type
Total Revenue (RMB mn)
1H19 Revenue mix
1H20 Revenue mix
Beverage revenue decline 7% YoY in 1H20, however, classic brands of "Uni Assam Milk Tea (統一阿薩姆 奶茶)" business marked a 3% YoY growth for the same period.
* Denotes revenue
7
Segment Performance
(RMB mn)
Food*
Beverages
Revenue
Gross margin
Operating margin**
* Food segment include self-heating rice meals "Kai Xiao Zao（開小灶）"
8
**Segment profit does not include unallocated profit/ (loss) which are mostly Headquarter expenses
Expenses breakdown
(RMB mn)
1H20 vs. 1H19
Selling and marketing
Administrative expense
Company expense*
expense ratio** to
ratio** to 3.9% (-0.3
ratio to 26.1% (-0.2
22.2% (+0.1 ppt YoY)
ppts YoY)
ppts YoY)
* Selling and marketing plus administrative expense
Uni-President China Holdings Ltd. published this content on 13 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2020 04:07:09 UTC
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