Tingyi (Cayman Islands) Holding Corp. · HKEX:322
Tingyi (Cayman Islands) — FY2012 Earnings Presentation
17 slides from Tingyi (Cayman Islands)'s earnings presentation, Mar 18, 2013
Slide 1: Presentation on 2012 Annual Results
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Slide 2: Tingyi Holding Corp. 2012 Annual Results
0322 HK Tingyi Holding Corp. 2012 Annual Results 18 March 2013 Corporate web site: www.masterkong.com.cn Email: [email protected]
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
Slide 4: FY2012 – Sales & Profit Growth
FY2012 – Sales & Profit Growth US$ million FY2012 FY2011 Change% Turnover 9,212 7,867 17.10 Gross Profit 2,754 2,088 31.92 Gross Margin 29.90% 26.54% 3.36ppt. EBITDA 1,200 955 25.64 Profit 600 500 20.10 Profit Attributable to Owners of 455 420 8.49 the Company EPS (US cents) 8.14 7.51 0.63 Dividends
Slide 5: Sales by Products
Sales by Products US$ million FY2012 FY2011 Change% Instant noodles 3,960 3,592 10.23 Beverage 4,931 3,999 23.31 Instant food 234 201 16.19 Others 87 75 17.38 Total 9,212 7,867 17.10 FY2011 FY2012 Instand Instant Food Others Food Others 2% 1% 2% 1% Beverages 54% Noodles Noodles Beverages 43% 46% 51%
Slide 6: Instant Noodle Sales by Products
Instant Noodle Sales by Products US$ million FY2012 FY2011 Change% Bowl 1,780 1,661 7.17 High end Packet 1,615 1,444 11.84 Mid-Low end Packet 533 471 13.22 Others 32 16 95.51 Total 3,960 3,592 10.23 FY2011 FY2012 Mid-Low end Others Packet 1% Mid-Low end Others 13% Packet 1% Bowl 13% 46% Bowl High en
Slide 7: Beverage Sales by Products
Beverage Sales by Products US$ million FY2012 FY2011 Change% RTD Tea 1,884 2,477 -23.94 Bottled Water 897 838 7.04 Juice drinks 1,171 684 71.20 Carbonated drinks (CSD) 979 - - and others Total 4,931 3,999 23.31 FY2011 FY2012 Juice 17% Tea CSD and others 62% 20% Tea 38% Water Juice 21% 24% Water 18%
Slide 8: Gross Margin by Products
Gross Margin by Products 39.01 FY2011 40 % 36.20 FY2012 35 30.01 29.90 29.62 30 27.24 25.67 26.54 25 20 15 10 5 0 Instant Beverages Instant food Overall noodles Change(ppt.) 2.77 3.95 2.81 3.36 © 2013 Tingyi (Cayman Islands) Holding Corp. 7 All rights reserved
Slide 9: EBIT by Products
EBIT by Products US$’ 000 FY2012 FY2011 Change% Instant noodles 416,118 378,855 9.84 Beverages 379,370 215,199 76.29 Instant food 5,741 3,898 47.30 Others 10,931 35,832 -69.50 EBIT 812,160 633,784 28.14 © 2013 Tingyi (Cayman Islands) Holding Corp. 8 All rights reserved
Slide 10: Profit by Products
Profit by Products US$’ 000 FY2012 FY2011 Change% Instant noodles 320,992 303,633 5.72 Beverages 281,642 156,768 79.66 Instant food 3,408 6,069 -43.85 Others -5,913 33,234 -117.79 Profit 600,129 499,704 20.10 © 2013 Tingyi (Cayman Islands) Holding Corp. 9 All rights reserved
Slide 11: Financial Position
Financial Position FY2012 FY2011 ROA* 12.23% 11.85% ROE* 19.57% 21.40% Current Ratio 0.71 0.59 Gearing Ratio 0.25 0.31 A/R Turnover /Days 7.69 6.56 Finished Goods Turnover/Days 12.11 8.87 At 31/12/2012, Cash and cash equivalents was US$837.898 million *ROA：EBIT to average total assets *ROE：Profit at
Slide 12: Material Price
Material Price RMB/Ton 3,500 Flour 3,120 Palm Oil 11,500 3,300 10,500 3,100 2,900 9,500 7,430 2,700 8,500 2,500 7,500 2,300 6,500 2,100 5,500 1,900 1,700 4,500 1,500 3,500 /05 /06 /06 /07 /07 /08 /08 /09 /09 /10 /10 /11 /11 /12 /12 /05 /06 /06 /07 /07 /08 /08 /09 /09 /10 /10 /11 /11 /12 /12 4Q 2Q 4Q
Slide 13: Instant Noodle Market Share by Value and Volume
Instant Noodle Market Share-by Volume Instant Noodle Market Share-by Value 70 60 % % 60 Tingyi 康師傅 55.9 56.7 56.4 50 53.9 Tingyi 康師傅 42.3 42.2 43.5 41.2 50 47.7 45.8 40 33.9 34.7 39.8 38.4 40 28.4 30 27.2 30 Hualong 華龍 20 Hualong 華龍 16.8 16.4 16.2 Uni-President 統一 20 16.1 12.8 15.3 12.8 13.5 15.0 14
Slide 14: RTD Tea Market Share (Milk Tea)
RTD Tea Market Share-by Volume RTD Tea Market Share-by Value Contain milk tea Contain milk tea 60 60 % % Tingyi 康師傅 Tingyi 康師傅 53.9 53.2 51.6 52.4 51.4 52.5 50.4 50.3 48.7 50 47.4 50 46.6 47.8 45.9 44.2 43.4 42.3 40 40 30 27.7 Uni-President 統一 29.9 30 27.5 Uni-President 統一 28.3 23.4 25.1 25.1 22.8 2
Slide 15: RTD Tea Market Share (Non-Milk Tea)
RTD Tea Market Share-by Volume RTD Tea Market Share-by Value Not contain milk tea Not contain milk tea 60 60 % % Tingyi 康師傅 53.9 53.2 53.4 Tingyi 康師傅 52.4 51.9 51.4 52.5 50.4 51.6 50.3 48.7 50 47.4 50 46.6 45.9 43.4 42.3 40 40 30 27.7 Uni-President 統一 30 Uni-President 統一 23.4 27.5 25.1 25.1 22.8 23.
Slide 16: Diluted Juice Drinks and Bottled Water Market Share
Bottled Water Market Share-by Volume Diluted Juice Drinks (5-39% juice content) Market Share-by Volume 30.0 40 % % 35 Uni-President 統一 Coca Cola Tingyi 康師傅 31.9 可口可樂 25.0 23.9 32.5 31.8 22.8 24.8 22.6 T 31.5 21.7 30 30.2 30.2 Farmer's Spring 21.8 F 27.1 26.8 27.7 農夫山泉 20.0 19.4 17.8 25 Wahaha娃哈哈 Tin
Slide 17: Nation-Wide Distribution Network and Production Centre
Nation-Wide Distribution Network and Production Centre a) Distribution Network As at 31/12/2012 As at 31/12/2011 Sales Office 571 555 Warehouse 95 91 Wholesaler 32,424 6,188 Direct Retailer 107,131 86,755 b) Production Lines Noodles 215 208 Beverage 377 287 Instant Food 15 15 16 © 2013 Tingyi (Cayma
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