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

Tingyi (Cayman Islands) — Q3 2014 Earnings Presentation

25 slides from Tingyi (Cayman Islands)'s earnings presentation, Nov 17, 2014

  1. Slide 1: Presentation on 2014 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 2014 Results

    0322 HK Tingyi Holding Corp. 3Q 2014 Results 17 November 2014 Hong Kong Corporate web site: www.masterkong.com.cn Email: [email protected] © 2014 Tingyi Holding Corp., All rights reserved.

  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 norepresentation or warranty express or implied is made as to, and no reliance, should be placed on, the fairness, accuracy, completeness

  4. Slide 4: Contents

    Contents  3Q 2014 review  Financial highlights  Market shares  Distribution network  Production summary 3 © 2014 Tingyi Holding Corp., All rights reserved.

  5. Slide 5: 3Q 2014 Sales & Profit

    3Q 2014 Sales & Profit US$ million 3Q 2014 3Q 2013 Change% Turnover 2,954 3,390 -12.86 Gross Profit 947 1,104 -14.22 Gross Margin 32.07% 32.58% -0.51ppt. EBITDA 401 472 -14.91 Profit 206 278 -26.19 Profit attributable to owners of the Company 160 186 -14.11 EPS (US cents) 2.85 3.32 -0.47cents 4 © 20

  6. Slide 6: 1-9/2014 Sales & Profit

    1-9/2014 Sales & Profit US$ million 1-9/2014 1-9/2013 Change% Turnover 8,458 8,813 -4.02 Gross Profit 2,658 2,724 -2.44 Gross Margin 31.42% 30.91% 0.51ppt. EBITDA 1,105 1,054 4.79 Profit 543 523 3.70 Profit attributable to owners of the Company 392 383 2.36 EPS (US cents) 6.99 6.84 0.15cents 5 © 201

  7. Slide 7: Turnover by Products

    Turnover by Products US$ million 3Q 2014 3Q 2013 Change% Instant Noodles 1,132 1,153 -1.81 Beverages 1,729 2,160 -19.95 Instant Food 47 55 -13.85 Others 46 22 106.65 Total 2,954 3,390 -12.86 3Q 2013 3Q 2014 Instant Instant Food Others Food Others 2% 1% 2% 2% Noodles 34% Beverages Beverages Noodles 5

  8. Slide 8: Turnover by Products

    Turnover by Products US$ million 1-9/2014 1-9/2013 Change% Instant Noodles 3,166 3,146 0.64 Beverages 5,061 5,410 -6.44 Instant Food 137 154 -11.06 Others 94 103 -8.40 Total 8,458 8,813 -4.02 1-9/2013 1-9/2014 Instant Instant Others Others Food Food 1% 1% 2% 2% Noodles Beverages 37% Noodles Beverage

  9. Slide 9: Instant Noodle Sales by Products

    Instant Noodle Sales by Products US$ million 3Q 2014 3Q 2013 Change% Bowl 520 536 -3.07 High end Packet 452 461 -2.00 Mid end Packet 130 127 3.19 Snack Noodle & Others 30 29 2.77 Total 1,132 1,153 -1.81 3Q 2013 3Q 2014 Snack Snack Noodle & noodle & Mid end Mid end Others Others Packet Packet 2% 3% 1

  10. Slide 10: Instant Noodle Sales by Products

    Instant Noodle Sales by Products US$ million 1-9/2014 1-9/2013 Change% Bowl 1,511 1,513 -0.12 High end Packet 1,211 1,225 -1.19 Mid end Packet 356 334 6.89 Snack noodle & Others 88 74 18.13 Total 3,166 3,146 0.64 1-9/2013 1-9/2014 Snack noodle Mid end Mid end Snack noodle & & Others Packet Others Pa

  11. Slide 11: Beverage Sales by Products

    Beverage Sales by Products US$ million 3Q 2014 3Q 2013 Change% Tea 626 752 -16.79 Water 350 473 -25.91 Juice 248 410 -39.44 Carbonated drinks and Others 505 525 -3.91 Total 1,729 2,160 -19.95 3Q 2013 3Q 2014 CSD & Others CSD & Others Tea 24% 29% Tea 35% 36% Juice Juice Water Water 19% 15% 22% 20% 10

  12. Slide 12: Beverage Sales by Products

    Beverage Sales by Products US$ million 1-9/2014 1-9/2013 Change% Tea 2,011 1,978 1.68 Water 1,000 981 1.98 Juice 867 1,176 -26.23 Carbonated drinks and Others 1,183 1,275 -7.28 Total 5,061 5,410 -6.44 1-9/2013 1-9/2014 CSD & Others CSD & Others 23% Tea Tea 23% 40% 37% Juice 17% Juice Water Water 22%

  13. Slide 13: Gross Margin by Products

    Gross Margin by Products 40 38.39 36.19 3Q2013 % 34.07 33.41 3Q2014 35 32.58 32.07 29.77 29.81 30 25 20 15 10 5 0 Instant Beverages Instant Food Overall Noodles Change (ppt.) 0.04 -0.66 -2.2 -0.51 12 © 2014 Tingyi Holding Corp., All rights reserved.

  14. Slide 14: Gross Margin by Products

    Gross Margin by Products 40 % 37.43 1-9/2013 35.59 33.43 1-9/2014 31.74 31.42 30.91 29.40 30 28.19 20 10 0 Instant Noodles Beverages Instant Food Overall Change (ppt.) -1.21 1.69 -1.84 0.51 13 © 2014 Tingyi Holding Corp., All rights reserved.

  15. Slide 15: EBIT by Products

    EBIT by Products US$’000 3Q 2014 3Q 2013 Change% Instant Noodles 153,121 138,621 10.46 Beverages 113,443 210,412 -46.09 Instant Food -4,141 -3,733 -10.92 Others 15,467 7,863 96.71 EBIT 277,890 353,163 -21.31 14 © 2014 Tingyi Holding Corp., All rights reserved.

  16. Slide 16: EBIT by Products

    EBIT by Products US$’000 1-9/2014 1-9/2013 Change% Instant Noodles 342,010 332,320 2.92 Beverages 387,368 359,141 7.86 Instant Food -15,488 -10,414 -48.72 Others 14,043 32,792 -57.17 EBIT 727,933 713,839 1.97 15 © 2014 Tingyi Holding Corp., All rights reserved.

  17. Slide 17: Profit

    Profit US$’000 3Q 2014 3Q 2013 Change% Instant Noodles 119,174 108,205 10.14 Beverages 82,646 172,004 -51.95 Instant Food -4,125 -3,366 -22.55 Others 7,837 1,610 386.73 Profit 205,532 278,453 -26.19 16 © 2014 Tingyi Holding Corp., All rights reserved.

  18. Slide 18: Profit

    Profit US$’000 1-9/2014 1-9/2013 Change% Instant Noodles 280,404 262,891 6.66 Beverages 279,656 259,491 7.77 Instant Food -14,777 -9,258 -59.61 Others -2,752 10,063 -127.36 Profit 542,531 523,187 3.70 17 © 2014 Tingyi Holding Corp., All rights reserved.

  19. Slide 19: Financial Position

    Financial Position As at 30/9/2014 As at 31/12/2013 *ROA (Annualized) 10.78% 8.92% *ROE(Annualized) 17.63% 15.06% Current Ratio 0.70 0.66 Gearing Ratio 0.24 0.15 A/R Turnover /Days 9.57 8.23 Finished Goods Turnover/Days 11.34 12.90 At 30/09/2014, cash and cash equivalents was US$1.45 billion *ROA：EB

  20. Slide 20: Material Price

    Material Price RMB/Ton 3,700 Flour Palm Oil 3,360 10,500 3,500 3,300 9,500 3,100 8,500 2,900 2,700 7,500 6,230 2,500 6,500 2,300 2,100 5,500 1,900 4,500 1,700 1,500 3,500 /08 Q /09 Q /09 Q /10 Q /10 Q /11 Q /11 Q /12 Q /12 Q /13 Q /13 Q /14 Q /14 /08 Q /09 Q /09 Q /10 Q /10 Q /11 Q /11 Q /12 Q /12 Q

  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 % 47.7 57.4 57.1 57.1 56.7 56.5 56.5 56.0 57.2 56.4 50.0 60.0 57.1 56.2 56.3 55.6 56.4 57.1 44.9 45.7 47.4 47.2 56.0 56.3 44.0 46.3 44.0 43.1 42.7 43.3 43.9 44.2 41.8 42.3 41.2 42.9 5

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

    RTD Tea Market Share-by Volume RTD Tea Market Share-by Value % 60.0 % 60.0 Tingyi Holding 56.0 54.9 54.4 Tingyi Holding 56.1 51.6 53.4 54.1 53.6 52.5 50.3 56.3 48.9 51.5 54.2 50.0 47.8 47.8 50.0 53.4 50.8 47.4 47.6 51.3 45.2 45.7 45.8 51.2 43.9 44.0 48.3 46.8 47.2 46.3 43.4 40.0 42.4 41.8 40.0 35.7

  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 % 70.0 % Tingyi Holding Tingyi Holding 61.4 59.4 60.9 58.4 60.0 57.5 56.5 60.0 58.0 56.7 57.1 60.8 55.6 55.9 55.9 56.1 55.1 53.1 53.8 56.5 56.1 51.9 57.1 53.3 57.1 55.2 51.1 57.3 56.8 54.8 54.5 50.0 53.4 50

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

    Bottle Water Market Share-by Volume Diluted Juice Drinks (below 39% juice content) Market Share-by Volume 30.0 % 40.0 % 27.7 Tingyi Holding Tingyi Holding 26.4 2 5 .7 25.9 35.0 33.6 33.5 25.3 33.2 33.8 25.1 24.1 32.4 25.0 31.9 31.7 22.7 2 2 .7 30.1 3 0 .5 31.0 2 2 .5 2 2 .6 2 2 .5 2 1 .9 30.0 2 1 .8

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

    Nation-Wide Distribution Network and Production Lines a) Nation-Wide Distribution Network As at 30/9/2014 As at 31/12/2013 Sales Office 584 566 Warehouse 77 75 Wholesaler 35,870 33,504 Direct Retailer 118,635 110,355 b) Production Lines Noodles 238 229 Beverage 452 410 Instant Food 15 15 24 © 2014 T

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