Tingyi (Cayman Islands) Holding Corp. · HKEX:322

Tingyi (Cayman Islands) — Q3 2015 Earnings Presentation

25 slides from Tingyi (Cayman Islands)'s earnings presentation, Nov 16, 2015

  1. Slide 1: Presentation on 2015 Third Quarterly Results

    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in re

  2. Slide 2: Tingyi Holding Corp. 3Q 2015 Results

    0322 HK • Tingyi Holding Corp. 3Q 2015 Results 16 November 2015 Hong Kong @2015 Tingyi (Cayman Islands) Holding Corp., All rights reserved.

  3. Slide 3: Disclaimer

    Disclaimer The infor matio n co ntained in this pr esentatio n is intend ed solely fo r yo ur p er so nal r efer ence. Such info r matio n is s u b j e c t t o c h a n g e wi t h o u t n o t i c e a n d n o r e p r e s e n t a t i o n o r wa r r a n t y e x p r e s s o r i m p l i e d i s m a d e a

  4. Slide 4: Contents

    Contents  3Q 2015 review  Financial highlights  Market shares  Distribution network  Production summary @2015 Tingyi (Cayman Islands) Holding Corp., All rights reserved. 3

  5. Slide 5: 3Q 2015 – Sales & Profit

    3Q 2015 – Sales & Profit US$ million 3Q2015 3Q2014 Change% Turnover 2,764 2,954 -6.45 Gross Profit 920 947 -2.87 Gross Margin 33.30% 32.07% 1.23ppt. EBITDA 408 401 1.67 Profit 188 206 -8.48 Profit attributable to owners of the Company 144 160 -9.63 EPS (US cents) 2.57 2.85 -0.28cents @2015 Tingyi (C

  6. Slide 6: 1-9/2015 – Sales & Profit

    1-9/ 2015 – Sales & Profit US$ million 1-9/2015 1-9/2014 Change% Turnover 7,634 8,458 -9.75 Gross Profit 2,522 2,658 -5.10 Gross Margin 33.04% 31.42% 1.62ppt. EBITDA 1,088 1,105 -1.55 Profit 461 543 -14.96 Profit attributable to owners of the Company 342 392 -12.67 EPS (US cents) 6.10 6.99 -0.89cent

  7. Slide 7: Turnover by Products

    Turnover by Products US$ million 3Q2015 3Q2014 Change% Instant noodles 1,062 1,132 - 6.20 Beverages 1,638 1,729 -5.26 Instant food 36 47 -23.44 Others 28 46 -40.22 Total 2,764 2,954 -6.45 3Q2014 3Q2015 Instant Instant food Others food Others 1% 1% 2% 2% Beverages Noodles Noodles Beverages 59% 39% 38

  8. Slide 8: Turnover by Products

    Turnover by Products 1-9/2015 1-9/2014 Change% US$ million Instant noodles 2,854 3,166 - 9.85 Beverages 4,600 5,061 -9.11 Instant food 103 137 -24.73 Others 77 94 -18.58 Total 7,634 8,458 -9.75 1-9/2014 1-9/2015 Instant Instant Others food food Others 1% 1% 1% 2% Noodles Beverages 37% Beverages Nood

  9. Slide 9: Instant Noodle Sales by Products

    Instant Noodle Sales by Products US$ million 3Q2015 3Q2014 Change% Bowl 502 520 -3.60 High end Packet 433 452 -4.10 Mid end Packet 106 130 -18.48 Snack Noodle & Others 21 30 -29.59 Total 1,062 1,132 -6.20 3Q2014 3Q2015 Snack Noodle & Mid end Others Mid end S n ack N oodle 3% Packet & O t hers Packet

  10. Slide 10: Instant Noodle Sales by Products

    Instant Noodle Sales by Products US$ million 1-9/2015 1-9/2014 Change% Bowl 1,376 1,511 -8.97 High end Packet 1,123 1,211 -7.20 Mid end Packet 294 356 -17.54 Snack Noodle & Others 61 88 -30.51 Total 2,854 3,166 -9.85 1-9/2014 1-9/2015 Snack Noodle & Mid end Mid end S n ack N oodle Others Packet Pack

  11. Slide 11: Beverage Sales by Products

    Beverage Sales by Products US$ million 3Q2015 3Q2014 Change% Tea 665 626 6.36 Water 327 350 -6.65 Juice 235 248 -5.13 Carbonated drinks and Others 411 505 -18.72 Total 1,638 1,729 -5.26 3Q2014 3Q2015 CSD & Others CSD & Others 29% Tea 25% 36% Tea 41% Juice Juice 14% 15% Water Water 20% 20% @2015 Ting

  12. Slide 12: Beverage Sales by Products

    Beverage Sales by Products US$ million 1-9/2015 1-9/2014 Change% Tea 1,922 2,011 -4.41 Water 855 1,000 -14.54 Juice 678 867 -21.69 Carbonated drinks and Others 1,145 1,183 -3.32 Total 4,600 5,061 -9.11 1-9/2014 1-9/2015 CSD & Others CSD & Others 23% 25% Tea Tea 40% 42% Juice Juice 17% 15% Water Wate

  13. Slide 13: Gross Margin by Products

    Gross Margin by Products 3Q2014 40 % 34.47 36.19 3Q2015 33.41 32.44 32.07 33.30 31.76 29.81 30 20 10 0 Instant Beverages Instant Overall noodles food Change (ppt.) 1.95 1.06 -3.75 1.23 @2015 Tingyi (Cayman Islands) Holding Corp., All rights reserved. 12

  14. Slide 14: Gross Margin by Products

    Gross Margin by Products 1-9/2014 40 % 1-9/2015 35.59 33.43 34.64 32.96 33.04 35 30.84 31.42 30 28.19 25 20 15 10 5 0 Instant Beverages Instant Overall noodles food Change(ppt.) 2.65 1.21 -2.63 1.62 @2015 Tingyi (Cayman Islands) Holding Corp., All rights reserved. 13

  15. Slide 15: EBIT by Products

    EBIT by Products US$’ 000 3Q2015 3Q2014 Change% Instant noodles 148,071 153,121 -3.30 Beverages 117,933 113,443 3.96 Instant food -5,683 -4,141 -37.23 Others 10,084 15,467 -34.82 EBIT 270,405 277,890 -2.69 @2015 Tingyi (Cayman Islands) Holding Corp., All rights reserved. 14

  16. Slide 16: EBIT by Products

    EBIT by Products US$’ 000 1-9/2015 1-9/2014 Change% Instant noodles 341,172 342,010 -0.24 Beverages 340,527 387,368 -12.09 Instant food -16,702 -15,488 -7.84 Others 18,177 14,043 29.42 EBIT 683,174 727,933 -6.15 @2015 Tingyi (Cayman Islands) Holding Corp., All rights reserved. 15

  17. Slide 17: Profit

    Profit US$’ 000 3Q2015 3Q2014 Change% Instant noodles 112,645 119,174 -5.48 Beverages 78,837 82,646 -4.61 Instant food -5,651 -4,125 -37.02 Others 2,263 7,837 -71.12 Profit 188,094 205,532 -8.48 @2015 Tingyi (Cayman Islands) Holding Corp., All rights reserved. 16

  18. Slide 18: Profit

    Profit US$’ 000 1-9/2015 1-9/2014 Change% Instant noodles 265,856 280,404 -5.19 Beverages 215,890 279,656 -22.80 Instant food -16,606 -14,777 -12.38 Others -3,754 -2,752 -36.41 Profit 461,386 542,531 -14.96 @2015 Tingyi (Cayman Islands) Holding Corp., All rights reserved. 17

  19. Slide 19: Financial Position

    Financial Position As at 30/09/2015 As at 31/12/2014 *ROA 9.76% 7.78% (Annualized) *ROE 14.90% 13.54% (Annualized) Current Ratio 0.77 0.64 Gearing Ratio 0.28 0.48 A/R Turnover /Days 9.81 8.89 Finished Goods Turnover/Days 9.71 11.73 At 30/09/2015, Cash and cash equivalents was US$1.666 billion *ROA：E

  20. Slide 20: Material Price

    Material Price RMB/Ton 3,800 Flour Palm Oil 10,500 3,500 3,430 9,500 8,500 3,200 7,500 2,900 6,500 2,600 5,050 5,500 2,300 4,500 3,500 2,000 PET Resin Sugar 10,000 14,000 13,000 8,000 12,000 11,000 6,000 5,570 10,000 4,000 9,000 8,000 2,000 7,000 7,250 6,000 0 @2015 Tingyi (Cayman Islands) Holding C

  21. Slide 21: Instant Noodle Market Share by Volume and Value

    Instant Noodle Market Share-by Volume Instant Noodle Market Share-by Value % % 60.0 70.0 Tingyi Holding Tingyi Holding 57.2 57.1 56.4 47.7 47.4 47.2 60.0 57.1 56.2 56.7 56.3 56.5 56.3 56.5 55.6 56.0 56.4 55.6 55.9 55.2 55.0 50.0 46.3 46.3 46.9 46.0 46.3 44.9 44.2 45.7 42.7 43.3 42.9 44.0 43.9 41.2 5

  22. Slide 22: RTD Tea Market Share by Volume and Value

    RTD Tea Market Share-by Volume RTD Tea Market Share-by Value % % Tingyi Holding 60.0 56.0 56.6 60.0 54.5 53.6 53.9 Tingyi Holding 51.5 56.4 51.6 54.2 54.1 47.4 50.0 47.2 47.6 52.5 50.0 47.8 48.9 51.2 51.3 47.0 45.2 45.7 45.8 49.4 48.3 47.8 43.9 48.5 46.3 46.8 46.0 44.0 40.0 40.0 42.4 41.8 43.4 Compa

  23. Slide 23: RTD Tea (no milk tea) Market Share by Volume and Value

    RTD Tea （no milk tea） Market Share-by Volume RTD Tea （no milk tea）Market Share-by Value % % 70.0 Tingyi Holding Tingyi Holding 60.0 56.3 56.5 56.5 55.7 62.4 55.2 53.4 53.8 54.8 61.4 60.9 61.4 61.4 53.1 52 52.2 55.9 55.9 56.1 56.1 60.0 62.3 51.1 56.8 57.1 55.1 53.3 60.8 50.0 51.9 54.5 59.4 57.1 52.5

  24. Slide 24: Juice Drinks and Bottled Water Market Share by Volume

    Bottle Water Market Share-by Volume Diluted Juice Drinks (below39% juice content) Market Share-by Volume % % 30.0 40.0 Tingyi Holding 25.9 Company A 35.0 33.8 25.0 24.1 Company A 25.3 22.7 22.5 30.0 31.0 21.9 21.2 22.6 21.8 32.4 20.6 21.5 30.0 28.4 28.9 30.5 22.7 20.1 28.3 20.0 28.2 26.1 26.2 22.1 2

  25. Slide 25: Nation-Wide Distribution Network and Production Lines

    A) Nation-Wide Distribution Network As at 30/09/2015 As at 31/12/2014 Sales Offices： 606 582 Warehouse： 73 77 Wholesaler： 30,574 36,837 Direct Retailer： 113,094 18,359 B) Production Lines Noodles 230 238 Beverage 470 444 Instant food 15 15 @2015 Tingyi (Cayman Islands) Holding Corp., All right reser

Tingyi (Cayman Islands) Holding — Q3 2015 Earnings Presentation on 6ix