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

Tingyi (Cayman Islands) — FY2016 Earnings Presentation

25 slides from Tingyi (Cayman Islands)'s earnings presentation, Mar 27, 2017

  1. Slide 1: HKEX announcement: Presentation on 2016 Annual 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. 2016 Annual Results

    单击此处编辑母版标题样式 Tingyi Holding Corp. 2 0 1 6 A n n u a l Re s u l t s 27 March 2017 1

  3. Slide 3: Disclaimer

    Disclaimer 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, completenes

  4. Slide 4: Contents

    Contents  2016 review  Financial highlights  Market shares Distribution network  Production summary ©2017 Tingyi(Cayman Islands)Holding Corp., All right reserved. 3 .

  5. Slide 5: 2016 – Sales & Profit (4Q2016)

    2016 – Sales & Profit US$ million 4Q2016 4Q2015 Change% Turnover 1,459 1,469 -0.68 Gross Profit 385 378 1.67 Gross Margin 26.34% 25.73% 0.61ppt. EBITDA 60 -49 221.45 Profit -99 -180 44.79 Profit attributable to owners of the -36 -86 58.38 Company EPS (US cents) -0.64 -1.53 -0.89 cents ©2017 Tingyi(C

  6. Slide 6: 2016 – Sales & Profit

    2016 – Sales & Profit US$ million 2016 2015 Change% Turnover 8,372 9,103 -8.03 Gross Profit 2,621 2,900 -9.64 Gross Margin 31.30% 31.86% -0.56ppt. EBITDA 996 1,039 -4.09 Profit 213 281 -24.32 Profit attributable to owners of the Company 177 256 -31.00 EPS (US cents) 3.16 4.57 -1.41 cents Dividends p

  7. Slide 7: Turnover by Products (4Q)

    Turnover by Products US$ million 4Q2016 4Q2015 Change% Instant Noodles 728 759 -4.04 Beverages 672 644 4.39 Instant Food 39 34 17.24 Others 20 32 -41.01 Total 1,459 1,469 -0.68 4Q2015 4Q2016 Instant Instant Food Others Food Others 2% 2% 1% Beverages 3% Beverages 44% 46% Noodles Noodles 52% 50% ©2017

  8. Slide 8: Turnover by Products

    Turnover by Products US$ million 2016 2015 Change% Instant Noodles 3,239 3,613 -10.34 Beverages 4,904 5,244 -6.49 Instant Food 137 137 0.21 Others 92 109 -16.05 Total 8,372 9,103 -8.03 2015 2016 Instant Instant Food Others Others Food 1% 1% 1% 2% Noodles Beverages Beverages 40% 58% Noodles 58% 39% ©

  9. Slide 9: Instant Noodle Sales by Products (4Q)

    Instant Noodle Sales by Products US$ million 4Q2016 4Q2015 Change% Bowl 353 331 6.85 High end Packet 268 268 0.04 Mid end Packet 96 140 -31.72 Snack Noodle & Others 11 20 -44.38 Total 728 759 -4.04 4Q2015 4Q2016 Mid end Snack Noodle Snack Noodle Packet & Others & Others Mid end 13% 2% Packet 3% 18%

  10. Slide 10: Instant Noodle Sales by Products

    Instant Noodle Sales by Products US$ million 2016 2015 Change% Bowl 1,574 1,707 - 7.73 High end Packet 1,069 1,391 - 23.15 Mid end Packet 537 434 23.71 Snack Noodle & Others 59 81 -27.65 Total 3,239 3,613 - 10.34 2015 2016 Snack Noodle Snack Noodle & Mid end & Others Mid end Others Packet 2% Packet

  11. Slide 11: Beverage Sales by Products (4Q)

    Beverage Sales by Products US$ million 4Q2016 4Q2015 Change% Tea 282 267 6.32 Water 91 108 -16.03 Juice 105 95 11.37 Carbonated drinks and Others 194 174 10.26 Total 672 644 4.39 4Q2015 4Q2016 CSD & Others CSD & Others 27% 29% Tea Tea 41% 42% Juice Juice 15% 16% Water Water 17% 13% ©2017 Tingyi(Caym

  12. Slide 12: Beverage Sales by Products

    Beverage Sales by Products US$ million 2016 2015 Change% Tea 2,114 2,189 -3.41 Water 854 963 -11.27 Juice 663 772 -14.12 Carbonated drinks and Others 1,273 1,320 -3.64 Total 4,904 5,244 -6.49 2016 2015 CSD & Others CSD & Others 26% 25% Tea Tea 42% 43% Juice Juice 14% 15% Water Water 17% 18% ©2017 Ti

  13. Slide 13: Gross Margin by Products (4Q)

    Gross Margin by Products % 38.33 4Q2015 40 36.51 4Q2016 35 28.55 30 27.37 26.34 25.73 22.73 23.47 25 20 15 10 5 0 Instant Beverages Instant Overall Noodles Food Change (ppt.) 1.18 0.74 1.82 0.61 ©2017 Tingyi(Cayman Islands)Holding Corp., All right reserved. 12 .

  14. Slide 14: Gross Margin by Products

    Gross Margin by Products % 36.63 2015 40 33.18 33.02 33.83 2016 35 31.86 31.30 30.12 28.78 30 25 20 15 10 5 0 Instant Beverages Instant Overall Noodles Food Change (ppt.) -1.34 -0.16 2.80 -0.56 ©2017 Tingyi(Cayman Islands)Holding Corp., All right reserved. 13 .

  15. Slide 15: EBIT by Products (4Q)

    EBIT by Products US$’000 4Q2016 4Q2015 Change% Instant Noodles 34,069 801 4,153.31 Beverages -120,047 -193,120 37.84 Instant Food -2,986 -4,721 36.75 Others 7,760 1,559 397.75 Group EBIT -81,204 -195,481 58.46 ©2017 Tingyi(Cayman Islands)Holding Corp., All right reserved. 14 .

  16. Slide 16: EBIT by Products

    EBIT by Products US$’000 2016 2015 Change% Instant Noodles 215,218 341,973 -37.07 Beverages 176,035 147,407 19.42 Instant Food -10,410 -21,423 51.41 Others 32,786 19,736 66.12 Group EBIT 413,629 487,693 -15.19 ©2017 Tingyi(Cayman Islands)Holding Corp., All right reserved. 15 .

  17. Slide 17: Profit (4Q)

    Profit US$’000 4Q2016 4Q2015 Change% Instant Noodles 30,283 8,066 275.44 Beverages -122,127 -175,035 30.23 Instant Food -3,158 -4,762 33.68 Others -4,321 -8,171 47.12 Group Profit -99,323 -179,902 44.79 ©2017 Tingyi(Cayman Islands)Holding Corp., All right reserved. 16 .

  18. Slide 18: Profit

    Profit US$’ 000 2016 2015 Change% Instant Noodles 175,397 273,922 -35.97 Beverages 63,017 40,855 54.25 Instant Food -10,769 -21,368 49.60 Others -14,618 -11,925 -22.58 Group Profit 213,027 281,484 -24.32 ©2017 Tingyi(Cayman Islands)Holding Corp., All right reserved. 17 .

  19. Slide 19: Financial Position

    Financial Position As at 31/12/2016 As at 31/12/2015 *ROA (Annualized) 4.98% 5.51% *ROE (Annualized) 6.40% 8.63% Current Ratio 0.72 0.68 Gearing Ratio 0.32 0.49 A/R Turnover /Days 10.11 9.46 Finished Goods Turnover/Days 11.43 10.87 Cash and cash equivalents US$1.473 billion US$1.024 billion *ROA：EBI

  20. Slide 20: Material Price

    Material Price RMB/Ton 4000 Flour 12000 Palm Oil 3500 10000 3000 3,420 8000 6,960 2500 6000 2000 4000 PET Resin 8000 Sugar 14000 6,760 12000 7000 10000 6000 8000 6,970 5000 6000 4000 ©2017 Tingyi(Cayman Islands)Holding Corp., All right reserved. 19 .

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

    Instant Noodle Market Share-by Volume Instant Noodle Market Share-by Value % % Tingyi Holding 60.0 60.0 56.5 57.1 56.4 56.056.4 55.2 55.0 55.6 Tingyi Holding 52.4 57.2 51.3 50.5 56.3 55.6 55.9 47.4 47.2 54.4 50.0 45.746.3 46.3 46.0 46.3 50.0 44.9 43.5 43.3 50.0 42.4 47.7 46.9 45.0 40.0 43.9 44.2 40.

  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 56.4 60.0 54.2 53.9 53.6 53.9 Tingyi Holding 51.2 52.5 56.6 52.2 51.6 51.3 56.0 54.5 54.2 50.0 53.7 49.4 50.0 47.8 46.3 45.7 46.8 47.0 46.0 48.5 44.4 44.0 43.4 47.6 48.9 43.3 45.8 45.7 40.0 Company A 40.0 36.0 44.7

  23. Slide 23: RTD Tea (no milk tea) Market Share

    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 60.9 56.1 56.5 56.1 56.5 55.7 62.3 60.8 61.4 61.4 61.4 54.8 58.0 60.4 60.1 51.952.2 53.4 53.8 53.3 52.5 58.4 55.9 56.3 60.0 57.1 62.4 56.9 50.9 49.5 59.4 59.3 50.0 53.

  24. Slide 24: Diluted Juice Drinks and Bottled Water Market Share

    Diluted Juice Drinks (below39% juice content) Bottle Water Market Share-by Volume Market Share-by Volume % % 30.0 40.0 25.9 35.0 33.8 25.0 22.7 21.5 Company A 30.8 31.0 21.2 22.6 21.8 21.9 21.9 Company A 22.6 30.0 28.4 27.6 20.2 27.1 30.5 25.1 20.0 20.0 20.9 28.3 26.1 29.9 20.3 17.6 18.6 19.7 19.1 2

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

    A）Nation-Wide Distribution Network As at 31/12/2016 As at 30/09/2016 As at 31/12/2015 Sales Office： 598 598 606 Warehouse： 69 69 73 Wholesaler： 33,653 33,552 30,095 Direct Retailer： 116,222 116,324 116,036 B） Production Lines Noodles 227 227 227 Beverage 476 476 468 Instant Food 16 16 16 ©2017 Tingy

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