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

Tingyi (Cayman Islands) — H1 2017 Earnings Presentation

25 slides from Tingyi (Cayman Islands)'s earnings presentation, Aug 21, 2017

  1. Slide 1: Presentation on 2017 Interim 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. 2017 Interim Results

    单击此处编辑母版标题样式 Tingyi Holding Corp. 2017 Interim Results 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  1H2017 review  Financial highlights  Market shares  Distribution network  Production summary ©2017 Tingyi (Cayman Islands) Holding Corp., All right reserved. 3 .

  5. Slide 5: 2Q2017 – Sales & Profit

    2Q2017 – Sales & Profit 2Q2016 RMBmn 2Q2017 Change% (Restated) Revenue 14,370 13,728 4.68 Gross Profit 4,333 4,373 -0.92 Gross Margin 30.15% 31.85% -1.70ppt. EBITDA 1,611 1,351 19.21 Profit 405 118 243.06 Profit attributable to owners of the Company 267 77 246.17 EPS (RMB cents) 4.76 1.38 3.38 cents

  6. Slide 6: 1H2017 – Sales & Profit

    1H2017 – Sales & Profit 1H2016 RMBmn 1H2017 Change% (Restated) Revenue 28,568 27,415 4.20 Gross Profit 8,313 8,672 -4.14 Gross Margin 29.10% 31.63% -2.53ppt. EBITDA 3,343 3,183 5.04 Profit 880 592 48.65 Profit attributable to owners of the Company 700 453 54.59 EPS (RMB cents) 12.49 8.08 4.41 cents

  7. Slide 7: Revenue by Products

    Revenue by Products 2Q2016 RMBmn 2Q2017 Change% (Restated) Instant Noodles 4,461 4,601 -3.04 Beverages 9,555 8,812 8.42 Instant Food 179 179 0.07 Others 175 136 29.19 Total 14,370 13,728 4.68 2Q2016 2Q2017 Instant Instant Food Others Food Others 1% 1% 1% 1% Noodles Noodles Beverages 34% Beverages 31

  8. Slide 8: Revenue by Products

    Revenue by Products 1H2016 RMBmn 1H2017 Change% (Restated) Instant Noodles 10,272 10,095 1.75 Beverages 17,537 16,575 5.80 Instant Food 398 411 -3.23 Others 361 334 8.33 Total 28,568 27,415 4.20 1H2017 1H2016 Instant Instant Food Food Others 2% Others 1% 1% 1% Noodles Noodles Beverages Beverages 36%

  9. Slide 9: Instant Noodle Sales by Products

    Instant Noodle Sales by Products 2Q2016 RMBmn 2Q2017 Change% (Restated) Bowl 2,175 2,197 -0.99 High end Packet 1,707 1,348 26.65 Mid end Packet 523 957 -45.38 Snack Noodle & Others 56 99 -43.57 Total 4,461 4,601 -3.04 2Q2016 2Q2017 Snack Noodle Mid end Snack Noodle Packet & Others Mid end 2% Packet

  10. Slide 10: Instant Noodle Sales by Products

    Instant Noodle Sales by Products 1H2016 RMBmn 1H2017 Change% (Restated) Bowl 5,205 4,931 5.55 High end Packet 3,756 2,910 29.07 Mid end Packet 1,176 2,049 -42.64 Snack Noodle & Others 135 205 -33.80 Total 10,272 10,095 1.75 1H2016 1H2017 Snack Noodle Mid end & Others Mid end Snack Noodle Packet 2% P

  11. Slide 11: Beverage Sales by Products

    Beverage Sales by Products 2Q2016 RMBmn 2Q2017 Change% (Restated) Tea 3,990 3,615 10.39 Water 1,997 1,873 6.61 Juice 1,316 1,112 18.37 Carbonated drinks and Others 2,252 2,212 1.74 Total 9,555 8,812 8.42 2Q2016 2Q2017 CSD & Others CSD & Others 25% 23% Tea 41% Tea Juice 42% 13% Juice Water 14% 21% Wa

  12. Slide 12: Beverage Sales by Products

    Beverage Sales by Products 1H2016 RMBmn 1H2017 Change% (Restated) Tea 7,686 7,251 5.99 Water 3,070 2,787 10.17 Juice 2,472 2,180 13.42 Carbonated drinks and Others 4,309 4,357 -1.13 Total 17,537 16,575 5.80 1H2016 1H2017 CSD & Others CSD & Others 25% 26% Tea Tea 44% 44% Juice Juice 14% 13% Water Wat

  13. Slide 13: Gross Margin by Products

    Gross Margin by Products % 2Q2017 40 35.94 34.58 33.95 2Q2016 35 31.63 31.85 30.15 30 27.22 27.07 25 20 15 10 5 0 Instant Beverages Instant Overall Noodles Food Change (ppt.) 0.15 -2.95 -1.99 -1.70 ©2017 Tingyi (Cayman Islands) Holding Corp., All right reserved. 12 .

  14. Slide 14: Gross Margin by Products

    Gross Margin by Products % 1H2017 40 35.36 33.96 34.24 1H2016 35 31.63 30.05 29.10 30 27.5227.89 25 20 15 10 5 0 Instant Beverages Instant Overall Noodles Food Change (ppt.) -0.37 -3.91 -1.12 -2.53 ©2017 Tingyi (Cayman Islands) Holding Corp., All right reserved. 13 .

  15. Slide 15: EBIT by Products

    EBIT by Products 2Q2016 RMB‘000 2Q2017 Change% (Restated) Instant Noodles 160,366 61,663 160.07 Beverages 448,576 281,761 59.20 Instant Food -10,942 -21,548 49.22 Others 96,459 82,688 16.65 Group EBIT 694,459 404,564 71.66 ©2017 Tingyi (Cayman Islands) Holding Corp., All right reserved. 14 .

  16. Slide 16: EBIT by Products

    EBIT by Products 1H2016 RMB’000 1H2017 Change% (Restated) Instant Noodles 642,984 458,568 40.22 Beverages 686,864 664,248 3.40 Instant Food -15,848 -42,565 62.77 Others 184,089 138,809 32.62 Group EBIT 1,498,089 1,219,060 22.89 ©2017 Tingyi (Cayman Islands) Holding Corp., All right reserved. 15 .

  17. Slide 17: Profit

    Profit 2Q2016 RMB’000 2Q2017 Change% (Restated) Instant Noodles 139,246 80,650 72.65 Beverages 262,570 74,578 252.07 Instant Food -10,470 -21,360 50.98 Others 13,937 -15,731 188.60 Group Profit 405,283 118,137 243.06 ©2017 Tingyi (Cayman Islands) Holding Corp., All right reserved. 16 .

  18. Slide 18: Profit

    Profit 1H2016 RMB’000 1H2017 Change% (Restated) Instant Noodles 532,280 398,578 33.54 Beverages 338,365 249,707 35.50 Instant Food -14,675 -42,025 65.08 Others 24,180 -14,178 270.55 Group Profit 880,150 592,082 48.65 ©2017 Tingyi (Cayman Islands) Holding Corp., All right reserved. 17 .

  19. Slide 19: Financial Position

    Financial Position As at 31/12/2016 As at 30/06/2017 (Restated) *ROA (Annualized) 5.33% 4.86% *ROE (Annualized) 8.62% 6.31% Current Ratio 0.72 0.72 Gearing Ratio 0.15 0.32 A/R Revenue /Days 10.72 10.23 Finished Goods Revenue/Days 13.17 11.58 Cash and cash equivalents RMB 10.393 billion RMB 10.232 bi

  20. Slide 20: Material Price

    Material Price RMB/Ton 4000 Flour 10000 Palm Oil 3,560 3500 8000 3000 6000 2500 6,130 2000 4000 PET Resin 8000 Sugar 14000 7,070 12000 7000 10000 6000 7,480 8000 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 % % 57.2 57.1 Tingyi Holding 60.0 60.0 56.0 55.6 55.9 55.2 54.4 Tingyi Holding 52.4 50.6 56.4 56.4 50.0 50.5 55.6 55.0 47.7 47.4 50.0 50.0 45.7 46.3 46.9 46.0 45.0 43.5 51.3 51.2 43.7 42.5 43.3 46.3 47.2 46.3 44.2 44.6 40.0 4

  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 56.6 % 56.0 54.5 54.2 53.9 53.7 54.2 60.0 53.6 52.5 Tingyi Holding 51.3 56.4 50.7 53.9 50.0 52.2 49.4 51.2 51.6 48.9 Tingyi Holding 49.7 50.0 47.0 48.5 45.7 45.8 45.7 44.7 47.8 43.4 43.3 41.5 46.8 40.0 46.0 44.4 40.0 Company A 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 70.0 60.8 61.4 61.4 62.3 62.4 61.4 Tingyi Holding 59.4 60.1 59.3 58.4 60.0 60.0 57.1 60.9 55.8 55.2 55.9 56.1 56.5 56.3 55.7 60.4 56.1 53.4 53.8 54.8 53.3 58.0 56.9 52.5 56.5 50.9 49.5 50.

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

    Diluted Juice Drinks (below 39% juice content) Bottle Water Market Share-by Volume Market Share-by Volume % % 40.0 30.0 25.9 35.0 33.8 25.0 22.7 23.4 31.0 22.6 27.7 28.3 21.8 Company A 28.4 Company A 21.9 22.0 30.0 20.5 30.5 22.8 26.1 25.6 26.0 20.0 20.8 25.4 24.1 20.3 18.6 19.1 17.7 19.5 25.0 26.4

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

    A）Nation-Wide Distribution Network As at 30/06/2017 As at 31/03/2017 As at 31/12/2016 Sales Office： 1,439 577 598 Warehouse： 76 78 69 Wholesaler： 35,291 34,291 33,653 Direct Retailer： 124,988 118,071 116,222 B） Production Lines Noodles 216 227 227 Beverage 481 476 476 Instant Food 16 16 16 ©2017 Tin

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