S.f. Holding Co., Ltd. Class A · SZSE:002352
S.f. Holding Co., Ltd. Class A — FY2024 Earnings Presentation
29 slides from S.f. Holding Co., Ltd. Class A's earnings presentation, March 2025
Slide 1: SF Holding FY2024 Investor Presentation
保密 SF Holding FY2024 Investor Presentation Stock Code: 002352.SZ/6936.HK March 2025 1
Slide 2: Disclaimer
Disclaimer This document is prepared by S.F. Holding Co., Ltd. (顺丰控股股份有限公司 ) the "Company"). By reading this document, you agree to be bound by the following limitations: • Unauthorized duplication, reproduction, transmission or redistribution of this document or information contained herein in any
Slide 3: Agenda – FY2024 Investor Presentation
Agenda – FY2024 Investor Presentation No. Section 1 Earnings Highlights 2 Business Overview 3 Operation Overview 4 Financial & ESG Performance 5 Appendix: CAS vs IFRS Financials Earnings Highlights Business Overview Operation Overview Financials & ESG Appendix 3
Slide 4: Earnings Highlights: Attributable Profit Surpassed RMB10bn, Setting a New Record
Earnings Highlights: Attributable Profit Surpassed RMB10bn, Setting a New Record Parcel Volume Revenue Supply Chain & Express & Logistics Revenue3 International Revenue 13.3bn1 RMB284.4bn RMB205.8bn RMB70.5bn +11.3% +10.1% +7.7% +17.5% +15.3% (excl. Fengwang) 2 +10.4% (excl. Fengwang) 2 +8.0% (excl.
Slide 5: Key Strategies for 2024
Key Strategies for 2024 Unite for Pioneer with Shared Goals Steadfast Drive Energize Organizational Vitality Customer-centric Provide Frontlines with Deepen Penetration Across Industry Segments More Business Authorization with Customized Solutions Further Activate Headquarter to Empower Customers’ O
Slide 6: Agenda – FY2024 Investor Presentation
Agenda – FY2024 Investor Presentation No. Section 1 Earnings Highlights 2 Business Overview 3 Operation Overview 4 Financial & ESG Performance 5 Appendix: CAS vs IFRS Financials Earnings Highlights Business Overview Operation Overview Financials & ESG Appendix 6
Slide 7: Revenue by Segment: High Quality Growth Underpinned by Global and Domestic Drivers
Revenue by Segment: High Quality Growth Underpinned by Global and Domestic Drivers 2.8% 2.9% Time-definite express Economy express 23.2% 24.8% Freight 43.0% 2023 2024 44.7% Cold chain and pharmaceutical 2.8% 3.1% Intra-city on-demand 4.0% 3.4% Supply chain and international Unit: RMB Billion 12.8% 1
Slide 8: Time-Definite Express: New Growth Momentum Driven by Superior Service and Expanded Scenarios
Time-Definite Express: New Growth Momentum Driven by Superior Service and Expanded Scenarios Revenue growth surpassed Penetrating Diverse Scenarios Leading Share in Return Parcels GDP growth Time-Definite Express revenue Driven by Consumer and Industrial Segments Benchmark-Setting Services % of Time
Slide 9: Economy Express: Differentiated Services Unlock New Demands, Marginal Capacity Drives New Increments
Economy Express: Differentiated Services Unlock New Demands, Marginal Capacity Drives New Increments Solid Growth Underpinned by Differentiated Increasing Volume by Utilizing Marginal Solid Revenue Growth Competition Strategy Capacity 1 Economy Express revenue (excl. Fengwang) Growth Driven by Diffe
Slide 10: Freight: Broadened Scenarios Drive Record-high Volume, Cost Optimization and Profit Improvement
Freight: Broadened Scenarios Drive Record-high Volume, Cost Optimization and Profit Improvement Record Volume Driven by Efficiency Improved through Strong Revenue Growth Significant Profit Improvement Scenario Broadening Model Optimization 1 1 Freight revenue Unit Cost ( kg) Deepen moat by upgrading
Slide 11: Intra-City: Robust Growth in Revenue and Profit, Quality and Efficiency Improvement Driven by Technology
Intra-City: Robust Growth in Revenue and Profit, Quality and Efficiency Improvement Driven by Technology Upgrading Technology-Powered Robust Revenue Growth Doubling Profit Scenario-Driven Growth Efficiency Improvement 1 Intra-City On-Demand Delivery revenue Gross profit2 Intra-City Logistics Network
Slide 12: Supply Chain & International: Deepening Roots in Asia with Diversified Capabilities
Supply Chain & International: Deepening Roots in Asia with Diversified Capabilities, Reshaping Supply Chain to Unlock New Potentials International Express Service Stimulates Strong Revenue Growth End-to-End Services for Customized Demand Cross-Border Consumption Supply Chain & International revenue
Slide 13: Supply Chain & International (Cont'd): New Breakthroughs across Sectors and Countries
Supply Chain & International (Cont’d): New Breakthroughs across Sectors and Countries, Empowering Clients’ Overseas Expansion Industrial / Tea / Coffee IP-themed Toy / Apparel Auto Consumer Electronics Well-known Chinese Well-known Chinese Well-known Chinese Chinese New Energy Tea Brand Trendy-toy B
Slide 14: Agenda – FY2024 Investor Presentation
Agenda – FY2024 Investor Presentation No. Section 1 Earnings Highlights 2 Business Overview 3 Operation Overview 4 Financial & ESG Performance 5 Appendix: CAS vs IFRS Financials Operation Overview Financials & ESG Earnings Highlights Business Overview Appendix 14
Slide 15: Structural Cost Optimization Leading to Lower Costs of Revenue
Structural Cost Optimization Leading to Lower Costs of Revenue Labor Costs Transportation Costs Other Operating Costs and as % of Revenue and as % of Revenue and as % of Revenue Incl. KLN Unit: Billion RMB Unit: Billion RMB Unit: Billion RMB 140.00 Excl. KLN ↑0.8ppts 48.00% 150 43.00% Excl. KLN 43.0
Slide 16: Ezhou Air Cargo Hub: A New International Gateway, Faster Speed For Global Connections
Ezhou Air Cargo Hub: A New International Gateway, Faster Speed For Global Connections Dedicated All-cargo International Airport Operated 55 >24,000 15 >3,000 by SF1 Cargo Cargo Throughput2 # of Cargo Domestic Domestic International International Throughput2 Growth Flights2 routes flights in FY24 rou
Slide 17: Integration & Transformation: Multi-network Integration Becomes New Normal
Integration & Transformation: Multi-network Integration Becomes New Normal, Operational Transformation Boosts Efficiency Improvement Multi-network Integration Enters New Stage Operational Transformation Leads Industry Innovation Transportation Sortation Last-mile Pre-sorting to Save Handling Line-ha
Slide 18: Operating Network: Increased Efficiency across the Full Process
Operating Network: Increased Efficiency across the Full Process, with Structural Initiatives to Improve Cost-efficiency Precise Investment to Cost-efficiency Driven New Tools Powered by Solidify the Capabilities by Lean Operations Tech Innovation Upgrade Services across Sectors Optimize Network Inte
Slide 19: Agenda – FY2024 Investor Presentation
Agenda – FY2024 Investor Presentation No. Section 1 Earnings Highlights 2 Business Overview 3 Operation Overview 4 Financial & ESG Performance 5 Appendix: CAS vs IFRS Financials Earnings Highlights Business Overview Operation Overview Financials & ESG Appendix 19
Slide 20: FY2024 Results: Net Profit Surpassed RMB10bn, Setting a New Record
FY2024 Results: Net Profit Surpassed RMB10bn, Setting a New Record Robust Growth of Net Profit Attributable to FY2024 4Q2024 Owners of the Company Unit: Billion RMB YoY Growth YoY Growth Volume1 13.3 11.3% YoY Growth (excl. Fengwang) 2 3.9 17.8% YoY Growth (excl. Fengwang) 2 11.0 bn parcels bn parce
Slide 21: Lean Operations Driving Gross Margin Improvement
Lean Operations Driving Gross Margin Improvement 90.00 17.0% FY Gross 80.00 Profit and Gross Margin Unit: Billion RMB16.0% External Environment 70.00 15.0% 13.9% 60.00 14.0% 12.8% Domestic: Enterprises and consumers pursue more cost-effective 50.00 13.0% services and set higher requirements for inte
Slide 22: Expenses as % of Revenue Decreased Moderately, and Net Margin Improved
Expenses as % of Revenue Decreased Moderately, and Net Margin Improved G&A Expense as % of S&M Expense as % of Profit attributable to owners of the Company Revenue ↓0.3 ppts Revenue ↓0.07 ppts Profit attributable to owners of the Company Unit: Billion RMB 14 4.20% Profit attributable to owners of th
Slide 23: CapEx Passed Peak Cycle, and FCF Improved Significantly
CapEx Passed Peak Cycle, and FCF Improved Significantly Capital Structure OCF Improved CapEx Passed Peak Cycle FCF Improved Unit: Billion RMB Unit: Billion RMB Unit: Billion RMB Unit: Billion RMB 54.7% 60.00% ↑21% CapEx as % of Revenue 00.00 53.4% 53.4% 52.1% 9.3% 5.6% 5.2% 3.5% ↑70% 50.00% 32.7 32.
Slide 24: Combining Dividend and Share Repurchase to Improve Shareholder Returns
Combining Dividend and Share Repurchase to Improve Shareholder Returns Increasing Dividend Payout Ratio Cancelling Repurchased Shares “To Steadily Increase Dividend Payout Ratio from 2024 to 2028, Buy back More Shares in due course to as compared to the level of 2023” Boost Market Sentiment Plan of
Slide 25: ESG: Building Sustainable Logistics with a Strong Commitment to ESG
ESG: Building Sustainable Logistics with a Strong Commitment to ESG Compared to Carbon Target 2 Significant Improvement in Carbon Efficiency with Continuous Reduction in Carbon Footprint1 Baseline year (2021) Carbon Efficiency Carbon Footprint per Parcel Carbon (tCO2e / million revenue) (gCO2e / par
Slide 26: ESG: Consistently Leading ESG Ratings with Multiple Awards
ESG: Consistently Leading ESG Ratings with Multiple Awards Fully Demonstrating the Commitments SF’s ESG Practices are Widely Recognized by Domestic and International Rating Agencies and Media, and Have Received Multiple Awards Brand Finance’s 2024 Top 10 Most Valuable Logistics Three years consecuti
Slide 27: Agenda – FY2024 Investor Presentation
Agenda – FY2024 Investor Presentation No. Section 1 Earnings Highlights 2 Business Overview 3 Operation Overview 4 Financial & ESG Performance 5 Appendix: CAS vs IFRS Financials Earnings Highlights Business Overview Operation Overview Financials & ESG Appendix 27
Slide 28: Appendix: Summary Financials - CAS vs. IFRS
Appendix: Summary Financials - CAS vs. IFRS Chinese Accounting Standards (CAS) International Financial Reporting Standards In RMB billion, unless otherwise specified 2023 2024 YoY 2023 2024 YoY P&L Revenue 258.4 284.4 10.1% 258.4 284.4 10.1% 1 Gross profit 33.1 39.6 19.5% 32.6 38.9 19.2% Gross margi
Slide 29: Vision
愿景 Vision 成为备受尊重全球领先的 To be the well-respected and the world’s leading 数智物流解决方案服务商 digital intelligence logistics solution provider For more information, please visit https://ir.sf-express.com/cn/ 29