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

Tingyi (Cayman Islands) — FY2013 Earnings Presentation

18 slides from Tingyi (Cayman Islands)'s earnings presentation, Mar 24, 2014

  1. Slide 1: Presentation on 2013 Annual 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. 2013 Annual Results

    0322 HK Tingyi Holding Corp. 2013 Annual Results 24 March 2014 Hong Kong Corporate web site: www.masterkong.com.cn Email: IR@tingyi.com © 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  2013 review  Financial highlights  Market shares  Distribution network  Production summary 3 © 2014 Tingyi Holding Corp., All rights reserved.

  5. Slide 5: 2013 – Sales & Profit Growth

    2013 – Sales & Profit Growth 2012 US$ million 2013 Change% （Restated） Turnover 10,941 9,212 18.77 Gross Profit 3,310 2,754 20.17 Gross Margin 30.25% 29.90% 0.35ppt. EBITDA 1,161 1,205 -3.60 Profit 494 605 -18.26 Profit-after excluding gain on bargain purchase 494 415 19.15 Profit attributable to own

  6. Slide 6: Turnover by Products

    Turnover by Products US$ million 2013 2012 Change% Instant Noodles 4,332 3,961 9.38 Beverages 6,268 4,932 27.09 Instant Food 203 234 -13.37 Others 138 85 62.34 Total 10,941 9,212 18.77 2012 2013 Instant Instant Food Others Food Others 2% 1% 2% 1% Noodles Beverages Beverages 40% 57% Noodles 54% 43% 5

  7. Slide 7: Instant Noodle Sales by Products

    Instant Noodle Sales by Products US$ million 2013 2012 Change% Bowl 2,066 1,881 9.83 High end Packet 1,693 1,615 4.79 Mid end Packet 469 400 17.25 Snack Noodle& Others 104 65 63.18 Total 4,332 3,961 9.38 2012 2013 Others Mid end Others Mid end 2% 2% Packet Packet Bowl Bowl 10% 11% High end 47% 48% H

  8. Slide 8: Beverage Sales by Products

    Beverage Sales by Products US$ million 2013 2012 Change% Tea 2,292 1,829 25.31 Water 1,141 899 26.93 Juice 1,340 1,187 12.87 Carbonated drinks and Others 1,495 1,017 47.03 Total 6,268 4,932 27.09 2012 2013 CSD & Others CSD & Others 24% Tea 21% Tea 37% 37% Juice Juice 21% Water Water 24% 18% 18% 7 ©

  9. Slide 9: Gross Margin by Products

    Gross Margin by Products 2012 38.99 38.09 40 % 2013 30.75 30.00 29.24 29.61 29.9 30.25 30 20 10 0 Instant Beverages Instant Food Overall Noodles Change (ppt.) -0.76 1.14 -0.90 0.35 8 © 2014 Tingyi Holding Corp., All rights reserved.

  10. Slide 10: EBIT by Products

    EBIT by Products 2012 US$’000 2013 Change% (Restated) Instant Noodles 436,990 416,118 5.02 Beverages 238,561 381,540 -37.47 Beverages-after excluding gain on bargain purchase 238,561 191,681 24.46 Instant Food -15,229 5,741 -365.25 Others 48,492 13,351 263.26 EBIT 708,814 816,750 -13.22 EBIT-after e

  11. Slide 11: Profit

    Profit 2012 US$’000 2013 Change% (Restated) Instant noodles 336,781 323,402 4.14 Beverages 154,880 286,816 -46.00 Beverages-after excluding gain 154,880 96,957 59.74 on bargain purchase Instant food -14,029 3,551 -495.19 Others 16,679 -9,050 284.30 Profit 494,311 604,719 -18.26 Profit-after excludin

  12. Slide 12: Financial Position

    Financial Position 2012 2013 (Restated) *ROA 8.92% 12.30% (Annualized) *ROE 15.06% 19.82% (Annualized) Current Ratio 0.66 0.70 Gearing Ratio 0.15 0.25 A/R Turnover /Days 8.23 7.69 Finished Goods Turnover/Days 12.90 12.11 At 31/12/2013, Cash and cash equivalents was US$1.25 billion *ROA：EBIT to avera

  13. Slide 13: Material Price Still At High Level

    Material Price Still At High Level RMB/Ton 3,700 Flour Palm Oil 3,430 11,500 3,500 3,300 10,500 3,100 9,500 2,900 8,500 2,700 7,500 2,500 5,870 2,300 6,500 2,100 5,500 1,900 4,500 1,700 3,500 1,500 /06 /07 /07 /08 /08 /09 /09 /10 /10 /11 /11 /12 /12 /13 /13 06 Q /07 Q /07 Q /08 Q /08 Q /09 Q /09 Q /

  14. Slide 14: 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 57.4 50.0 60.0 54.2 54.9 55.7 56.0 57.1 57.1 57.1 56.2 56.7 56.3 56.5 56.3 56.5 55.6 56.0 56.4 44.9 44.2 45.7 46.3 44.0 43.1 42.3 42.7 43.3 42.9 44.0 43.9 40.8 41.4 42.1 41.8 41.2 5

  15. Slide 15: RTD Tea Market Share by Value and Volume

    RTD Tea Market Share-by Volume RTD Tea Market Share-by Value 60.0 60.0 % 54.9 54.4 % 56.156.3 Tingyi Holding Tingyi Holding 53.453.454.1 53.6 52.5 50.9 51.6 52.2 51.5 51.2 50.3 50.8 49.7 47.4 47.8 47.8 47.7 48.347.6 50.0 50.0 47.2 47.4 46.0 45.2 45.7 45.8 46.3 43.9 44.0 42.4 41.8 40.0 36.7 40.0 33.4

  16. Slide 16: RTD Tea (no milk tea) Market Share

    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 59.4 58.4 60.0 57.1 57.3 56.7 57.1 56.8 57.1 58 60.0 56.5 57.5 55.1 56.155.655.9 55.2 54.8 53.6 53.3 52.5 53.5 54.5 53.0 53.1 53.4 53.8 52.0 52.051.151.9 52.2 50.7 49.

  17. Slide 17: 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 40.0 % % Tingyi Holding Tingyi Holding 25.7 25.9 33.8 25.3 35.0 33.2 33.633.5 25.1 32.4 25.0 24.1 31.732.1 31.9 31.7 31.0 30.8 30.5 22.5 22.7 22.5 22.7 22.6 29.930.1 30.0 21.7 24.1 30.0 Player

  18. Slide 18: Nation-Wide Distribution Network and Production Centre

    Nation-Wide Distribution Network and Production Centre a) Nation-Wide Distribution Network As at 31/12/2013 As at 31/12/2012 Sales Office 566 571 Warehouse 75 95 Wholesaler 33,504 32,424 Direct Retailer 110,355 107,131 b) Production Lines Noodles 229 215 Beverage 410 377 Instant Food 15 15 17 © 2014

Tingyi (Cayman Islands) Holding — FY2013 Earnings Presentation on 6ix