Baozun, Inc. · NASDAQ:BZUN
Baozun — FY2020 Earnings Presentation
18 slides from Baozun's earnings presentation, March 2021
Slide 1: 4Q20 & FY2020 Earnings Presentation
4Q20 & FY2020 Earnings Presentation March 2021
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer to sell or issue or solicitation of an offer to buy or acquire securities of Baozun Inc. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in
Slide 3: 4Q & FY2020 Financial Highlights
4Q & FY2020 Financial Highlights 266 Non-GAAP Brand Partners(1) GMV(2) Revenue Operating Income(3) +6 RMB 22.9 bn RMB 3.3 bn RMB 333.1 mm 4Q20 Net Add QoQ +29% YoY +20% YoY +54% YoY + 35 RMB 55.7 bn RMB 8.9 bn RMB 668.7 mm FY2020 Net Add YoY +25% YoY +22% YoY +45% YoY (1) As of December 31, 2020 (2)
Slide 4: 4Q20 Infrastructure Enhancements
4Q20 Infrastructure Enhancements Technology Upgraded technology system and capacity Delivered additional automation & one-click tools with ROSS Launched virtual intelligence dashboard system Solid Digital Marketing Effective Delivered creative and innovative engagements Offered targeted ma
Slide 5: 3-5 Year Medium-Term Strategic Plan
3-5 Year Medium-Term Strategic Plan “Customer First” to Drive Growth New Business Expansion Cost Structure Optimization Customer segmentation and Explore new channels such as Technology driven business service differentiation to mini-programs, Douyin, JD etc. process re-engineering attract new
Slide 6: Our Culture: Delivering Quality through Developing People
Our Culture: Delivering Quality through Developing People Named ‘Shanghai Best Employers Top 30’ Launched new headquarters to attract and retain the best talent 5
Slide 7: Financial Highlights
Financial Highlights
Slide 8: Solid GMV Growth
Solid GMV Growth Total GMV (1) GMV by Category RMB mn Sports 25%+ 55,688 Luxury Apparel 50%+ Electronics 44,410 c. 30% YoY Men’s c. 20% YoY growth Clothing growth Women’s Clothing 29,426 51,353 22,873 40,561 10%+ 19,112 17,772 26,524 11,265 21,227 16,492 16,323 8,731 FMCG Appliance High double digit
Slide 9: Robust Revenue Growth
Robust Revenue Growth Total net revenue Gross profit (1) RMB mn RMB mn 62% 8,852 62% 62% 62% 62% 7,278 54% 5,525 43% 50.0% 4,945 4,504 5,393 30.0% 3,856 4,149 3,358 10.0% 2,876 3,390 3,347 1,891 2,784 2,231 1,214 2,060 -10.0% 1,873 1,727 1,491 1,468 3,907 3,422 2,517 -30.0% 2,176 2,258 1,293 1,474 -
Slide 10: Optimized Cost Structure and Drove Operational Efficiency
Optimized Cost Structure and Drove Operational Efficiency Operating expenses breakdown (as % of total GMV) Operating expense analysis • Efficiency programs 12.2% 0.8% • Hourly-rates increased for labor cost Fulfillment 0.8% 10.4% 10.3% 851MM 0.6% 0.5% 9.3% 0.7% 0.9% 9.0% 0.5% 0.4% 8.3% • Effectivene
Slide 11: Healthy and Sustainable Profitability
Healthy and Sustainable Profitability Non-GAAP income from operations (1) Non-GAAP net income (2) RMB mn RMB mn 10.0% 7.6% 8.0% 7.6% 7.8% 10.0% 8.1% 6.3% 6.5% 6.4% 6.1% 10.0% 4.9% 5.9% 3.7% 3.5% 669 0.0% 536 0.0% -10.0% -10.0% 460 433 347 358 -20.0% -20.0% 333 315 268 271 217 -30.0% -30.0% 163 124 1
Slide 12: Healthy and Sustainable Profitability (Cont'd)
Healthy and Sustainable Profitability (Cont’d) Non-GAAP net income Basic and Diluted non-GAAP net income attributable to Ordinary Shareholders of Baozun (1) attributable to Ordinary Shareholders of Baozun Inc. per ADS (2) RMB mn RMB 8.1% 6.4% 6.4% 6.0% 5.8% 9 8.57 8.40 3.6% 4.9% 535 8 7 6.11 6.16 5.
Slide 13: 2020: High Quality Growth, Despite COVID
2020: High Quality Growth, Despite COVID Brand Portfolio Innovative Optimization 01 02 Business Structure 2020 Financial Highlights Cost Efficiency GMV: +25% YoY Fulfillment 03 Revenue: +22% YoY 04 Improvement Supported Growth Non-GAAP Operating Income: +45% YoY Second consecutive year of positive o
Slide 14: Appendix
Appendix
Slide 15: Consolidated Statements of Income
Consolidated Statements of Income Selected Consolidated Statements of Income For the year ended For the three months ended December 31, December 31, in RMB '000 2018 2019 2020 2019 2020 Product sales 2,516,862 3,422,151 3,906,611 1,293,079 1,474,246 Services 2,876,175 3,856,041 4,944,952 1,491,048 1
Slide 16: Selected Consolidated Balance Sheet
Selected Consolidated Balance Sheet Selected Consolidated Balance Sheet Data As of December 31, in RMB '000 2018 2019 2020 ASSETS Cash and cash equivalents 457,340 1,144,451 3,579,665 Restricted cash 125,515 382,359 151,354 Accounts receivable, net(1) 1,547,631 1,800,896 2,188,977 Inventories, net(1
Slide 17: Reconciliations of GAAP and non-GAAP Financial Measures
Reconciliations of GAAP and non-GAAP Financial Measures For the three months For the year ended December 31, ended December 31, In RMB ’000 2016 2017 2018 2019 2020 2019 2020 Income from operations 90,066 256,332 355,773 383,653 558,677 195,935 300,628 Add: Share-based compensation expenses 34,185 5
Slide 18: Thank You!
Thank You!