Baozun, Inc. · NASDAQ:BZUN
Baozun — Q4 2023 Earnings Presentation
14 slides from Baozun's earnings presentation, Mar 21, 2024
Slide 1: 4Q 2023 Earnings Presentation
4Q 2023 Earnings Presentation March 21, 2024
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: Baozun Business Transformation and 2023 Achievements
Baozun Business Transformation and 2023 Achievements Total Revenue Operating Cash Flow (1) RMB 8.8 bn RMB 454 mm +5% YoY Annual Operating Cash Flow and Free Cash Flow both Set New Records Baozun E-Commerce Baozun Brand Management Baozun International (BEC) (BBM) (BZI) • Service quality and customer
Slide 4: 4Q23 Revenue Breakdown
4Q23 Revenue Breakdown Total Net Revenues Revenue YoY Change Breakdown by Segment RMB mn 36% 2,780 2,553 -4% -3% Product Sales Service - Store Operations Service - Value-added 4Q2022 4Q2023 Service Total net revenues Gross profit and gross margin for product sales (1) Revenue Characteristics RMB mn
Slide 5: Cash Flow Walk FY2022 vs FY2023
Cash Flow Walk FY2022 vs FY2023 Total Cash Position Operation Cash Flow RMB 3.1 bn Historical High Record Historical high record of operating cash flow RMB Mn (OCF) and free cash flow (FCF) OCF improved RMB71Mn YoY through efficient working capital management Operating Cash Flow + RMB453 million Net
Slide 6: BEC Business Transition Key Initiatives
BEC Business Transition Key Initiatives Customer Centric High Quality Business Growth Efficiency Improvement & Cost Control • Customer satisfaction enhancement • Omni-channel capability enhancement • Lean management committee • Nielsen NPS score improvement • Core categories expansion • Middle and b
Slide 7: BBM Approach: Culturally Relevant in Greater China
BBM Approach Creative Content to Commerce GOAL CULTURALLY RELEVANT in Greater China FOCUS Build Chinese Consumer Love 1 2 3 4 5 6 Break The Upgrade STRATEGIC China-For-China Local & Agile Omnichannel Uplift Brand Discount Retail Customer PRIORITIES Products Supply Chain Reimagined Impact Vicious Cyc
Slide 8: BBM Key Achievement
BBM Key Achievement Net Gross Offline Store Inventory Non-GAAP Revenues Profit Margin Same Store Growth Turnover Days Operating Loss 4Q23 458MM 53% 12% 110days 43MM FY2023 1.3BN 54% 19% 138days 188MM Supply Chain Building Premiumization Localization Fundamentals • New product segmentation • Speed to
Slide 9: Q&A
Q&A 8
Slide 10: Appendix
Appendix 9
Slide 11: Selected 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 2021 2022 2023 2022 2023 Product sales 3,873,589 2,644,214 3,357,202 772,375 1,053,022 Services 5,522,667 5,756,417 5,454,811 1,780,789 1,727,392 Total net revenues 9,396,25
Slide 12: Reconciliations of GAAP and non-GAAP Financial Measures
Reconciliations of GAAP and non-GAAP Financial Measures For the year ended For the three months December 31, ended December 31, In RMB ’000 2021 2022 2023 2022 2023 Income (loss) from operations 7,021 33,287 (206,380) 124,068 6,398 Add: Share-based compensation expenses 196,547 142,381 103,449 13,69
Slide 13: Selected Consolidated Balance Sheet Data
Selected Consolidated Balance Sheet Data For the year ended December 31, in RMB '000 2021 2022 2023 ASSETS Cash and cash equivalents 4,606,545 2,144,020 2,149,531 Restricted cash 93,219 101,704 202,764 Short-term investments - 895,425 720,522 Accounts receivable, net(1) 2,260,918 2,292,678 2,184,729
Slide 14: Thank You
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