Baozun, Inc. · NASDAQ:BZUN
Baozun — Q3 2022 Earnings Presentation
18 slides from Baozun's earnings presentation, Nov 29, 2022
Slide 1: 3Q 2022 Earnings Presentation
3Q 2022 Earnings Presentation November 29, 2022
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: 3Q22 Financial Highlights at Glance
3Q22 Financial Highlights at Glance Non-GAAP Operating Cash GMV(1) Revenue Operating Income(2) Cash Flow Balance(4) RMB 19 bn RMB 1.7 bn RMB 17 mm RMB (113) mm RMB 2.9 bn +16% YoY -8% YoY +15 mm YoY(3) + 626 mm YoY (1) Gross merchandise volume, includes value added tax and excludes (i) shipping char
Slide 4: 3Q22 Operational Highlights
3Q22 Operational Highlights Innovation in Consumer Baozun Omni-channel Digital Baozun Brand Management Engagement Operation Platform (BOCDOP) (BBM) Short-Video Clipping Tool Packaged solution & customization capabilities Expand upstream and target to evolve into a AI-based Outbound Calling System te
Slide 5: Topline Momentum
Topline Momentum Total GMV (1) Total Net Revenues RMB mn RMB mn 58,716 6,223 45,046 5,847 3,580 56,614 3,975 42,092 18,632 16,078 1,899 1,741 18,073 2,644 1,199 15,292 1,872 1,244 2,954 2,102 700 497 786 559 9M2021 9M2022 3Q2021 3Q2022 9M2021 9M2022 3Q2021 3Q2022 Distribution GMV Non-Distribution GM
Slide 6: 3Q22 Revenue Breakdown
3Q22 Revenue Breakdown Revenue Breakdown by Service Segment Revenue YoY Growth Breakdown by Service Segment 22% Apparel and 2% Accessories 13% -7% -19% -29% Digital Marketing & IT Solutions Appliances 23% Product 13% Sales Online Store Product Sales Service Warehousing and Digital Marketing 29% Onli
Slide 7: Improved Gross Margin
Improved Gross Margin Gross Profit of Product Sales (1) Gross Profit (2) RMB mn RMB mn 76.2% 72.4% 16.6% 68.6% 15.5% 13.8% 14.8% 20.0% 64.1% 70.0% 0.0% 50.0% 4,235 411 3,990 -20.0% 30.0% 259 -40.0% 10.0% -60.0% -10.0% 1,303 1,326 104 82 -80.0% -30.0% -100.0% -50.0% 9M2021 9M2022 3Q2021 3Q2022 9M2021
Slide 8: Profitability Trend
Profitability Trend Non-GAAP income (loss) from operations (1) Non-GAAP net income (loss) (2) RMB mn RMB mn 400 10.0% 10.0% 2.5% 2.1% 1.2% 1.0% 300 0.2% 0.0% 0.0% 0.0% -4.4% -4.6% 200 -10.0% -10.0% 153 128 100 69 -20.0% -20.0% 17 10 0 0 -30.0% -30.0% -100 -84 -40.0% -40.0% -87 -200 -50.0% -50.0% 9M2
Slide 9: Revenue Walk 3Q21 vs 3Q22
Revenue Walk 3Q21 vs 3Q22 Net Revenues Bridge (1) RMB Mn Stream of Online Store Operations High quality strategy for distribution model 3Q21 Distribution Sportswear & Luxury Other Business Warehousing3 Digital 3Q22 Revenue Fashion Apparel Units and Fulfillment Marketing & IT Revenue Solutions (1) Ex
Slide 10: Profits Walk 3Q21 vs 3Q22
Profits Walk 3Q21 vs 3Q22 Non-GAAP Operating Profit Bridge (1) RMB Mn Adjusted 3Q22 non-GAAP operating profit of 2 million Breakeven line Stream of Online Store Operations High quality 86 strategy for distribution model 3Q21 3Q21 Write-down Distribution Sportswear & Luxury Other Business Warehousing
Slide 11: Cash Flow Walk 2Q22 vs 3Q22
Cash Flow Walk 2Q22 vs 3Q22 RMB Mn Year-over-year improvement of 626 million 30/06/2022 Operating Investing Short-term Financing – Financing – Foreign 30/09/2022 Cash & Cash Investment Share Others Exchange Cash & Cash Equivalent Buyback Equivalent Balance (1) Balance (1) (1) Including cash, cash eq
Slide 12: Q&A
Q&A 11
Slide 13: Appendix
Appendix
Slide 14: Operating Expenses Breakdown
Operating Expenses Breakdown Operating expenses breakdown (as % of total GMV) Operating expense analysis (for 3Q2022) • Lower freight expenses resulting from the Company’s divesture of a subsidiary of its warehouse and supply chain businesses that was acquired in 2Q2021 Fulfillment 576MM • Additiona
Slide 15: Consolidated Statements of Income
Consolidated Statements of Income Selected Consolidated Statements of Income For the year ended For the three months ended December 31, September 30, in RMB '000 2019 2020 2021 2021 2022 Product sales 3,422,151 3,906,611 3,873,589 699,645 497,098 Services 3,856,041 4,944,952 5,522,667 1,199,120 1,24
Slide 16: 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 September 30, In RMB ’000 2019 2020 2021 2021 2022 Income (loss) from operations 383,653 558,677 7,021 (156,525) (26,256) Add: Share-based compensation expenses 75,183 108,440 196,547 6
Slide 17: Consolidated Balance Sheet
Consolidated Balance Sheet Selected Consolidated Balance Sheet Data For the year ended For the three months ended December 31, September 30, in RMB '000 2019 2020 2021 2022 ASSETS Cash and cash equivalents 1,144,451 3,579,665 4,606,545 2,292,079 Restricted cash 382,359 151,354 93,219 7,254 Short-ter
Slide 18: Thank You!
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