Haier Smart Home Co., Ltd. Class A · SSE:600690
Haier Smart Home Co., Ltd. Class A — 1Q 2021 Earnings Presentation
25 slides from Haier Smart Home Co., Ltd. Class A's earnings presentation, 2021
Slide 1: Haier Smart Home Co., Ltd
Haier Smart Home Co., Ltd
Slide 2: Disclaimer
Disclaimer This presentation comprises certain written materials/slides prepared by Haier Smart Home Co., Ltd. (the "Company"). This presentation does not constitute or form part of any advertisement or marketing material, any offer or invitation to sell or issue, any offer or inducement or invitati
Slide 3: Shareholding Structure
Shareholding Structure Other public A-share D-share H-share Haier Group shareholders shareholders shareholders 35.15% 38.95% 2.25% 23.65% Haier Smart Home Refrigerator Air Kitchen Washing Water Water Channel Overseas Freezer conditioner appliances machine heater purifier services As of 31 Dec 2020 F
Slide 4: Table of Contents
Table of Contents Performance Review 1 Investment Highlights 15 FY20 & 1Q21 Haier Smart Home
Slide 5: Financial Review FY20
Financial Review FY20 RMB Million Revenue Net profit Net margin ➢ FY16-20 Revenue CAGR: 17.02%; 209,725 ➢ net profit CAGR 15.19%; 184,108 200,761 163,428 119,032 ➢ NPM decreased to 4.2% amid Covid 19 outbreak 4.2% 4.2% 4.1% 4.1% 4.2% 5,041 6,907 7,483 8,206 8,876 FY16 FY17 FY18 FY19 FY20 Revenue Net
Slide 6: Financial Review 1Q21
Financial Review 1Q21 RMB Million ➢ 1Q21 Revenue: 54,773 million Revenue growth ➢ Revenue growth: 27.0% ➢ Growth rate (exclude spinoff of Cosmoplat in 3Q20): 38.2% 38.2% 27.0% ➢ Growth rate (exclude spinoff of Goodaymart in 3Q19 & 24.4% Cosmoplat in 3Q20): 12.9% ➢ 12.9% Vs 1Q19 Vs 1Q19 excl spinoff
Slide 7: Global Revenue FY20
Global Revenue FY20 Revenue by segment Revenue growth by segment Air conditioner Washing Kitchen appliance, Kitchen appliance 10% machine 22.4% 1% 11% Refrigerator, Water heater Refrigerator Air conditioner, 0.5% 5% Overseas, Others 14% 7.4% 11% 8.3% Water heater, Overseas 3.3% Washing 48% Others ,
Slide 8: Global Revenue 1Q21
Global Revenue 1Q21 Revenue growth Vs 1Q19 Revenue growth Vs 1Q20 32.0% 129.0% 26.0% 13.0% 50.0% 49.7% 43.5% 39.8% 5.5% 24.6% 2.0% 0.7% Overseas Water heater Kitchen appliance Air conditioner Washing machine Refrigerator Overseas Water heater Kitchen appliance Air conditioner Washing machine Refrige
Slide 9: Cost & Expenses FY20
Cost & Expenses FY20 COGS Selling & distribution expenses RMB Million COGS Selling & Distribution % of revenue 16.8% 147,475 33,682 16.0% 140,868 33,642 2019 2020 2019 2020 R&D expenses General & administration expenses R&D % of revenue Admin % of revenue 3.3% 3.1% 5.0% 16,913 6,860 4.8% 6,267 16,38
Slide 10: Cost & Expenses 1Q21
Cost & Expenses 1Q21 COGS Selling & distribution expenses RMB Million COGS Selling & Distribution % of revenue 15.0% 14.3% 31,301 39,170 6,482 7,832 1Q20 1Q21 1Q20 1Q21 R&D expenses General & administration expenses R&D % of revenue Admin % of revenue 3.8% 4.5% 3.7% 3.9% 1,600 2,070 1,936 2,125 1Q20
Slide 11: Profitability
Profitability Quarterly gross margin Gross margin by region 1Q20 34.3 30.7 1Q21 27.4 28.4 28.1 28.5 29.3 26.3 25.7 1Q20 2Q20 3Q20 4Q20 1Q21 China GPM Overseas GPM Quarterly operating margin Operating margin by region 1Q20 5.5 5.7 1Q21 4.8 6.8 4.5 3.1 4.6 3.9 2.4 1Q20 2Q20 3Q20 4Q20 1Q21 China OPM Ov
Slide 12: Cash Flow FY20
Cash Flow FY20 Operating cash flow Investing cash flow RMB Million FY19 FY20 17,599 15,083 -5,264 -10,962 FY19 FY20 Financing cash flow Capex FY19 FY20 -1,026 7,773 6,194 -6,013 FY19 FY20 FY20 & 1Q21 Haier Smart Home 12
Slide 13: Cash Flow 1Q21
Cash Flow 1Q21 Operating cash flow Investing cash flow RMB Million 1Q20 1Q21 2,863 1Q20 1Q21 -620 -5,788 -1,223 Financing cash flow Capex 1Q20 1Q21 7,583 1,704 1,572 -4,351 1Q20 1Q21 FY20 & 1Q21 Haier Smart Home 13
Slide 14: Inventory FY20
Inventory FY20 DSO DPO Number of days 86.7 23.5 79.8 19.6 FY19 FY20 FY19 FY20 DIO CCC 8.1 71.4 5.3 65.6 FY19 FY20 FY19 FY20 FY20 & 1Q21 Haier Smart Home 14
Slide 15: Inventory 1Q21
Inventory 1Q21 DSO DPO Number of days 91 30 27 88 1Q20 1Q21 1Q20 1Q21 DIO CCC 83 19 14 72 1Q20 1Q21 1Q20 1Q21 FY20 & 1Q21 Haier Smart Home 15
Slide 16: Key Ratios
Key Ratios Cash & cash equivalent Debt/Asset RMB Million 45,635 71.3% 69.5% 34,963 66.8% 66.5% 65.3% 62.9% 2019 2020 2016 2017 2018 2019 2020 1Q21 ROE EBITDA/Interest 22.9 20.4 22.7% 18.6 17.0 17.2 13.4 16.1% 13.3% 10.5% 11.2% 9.4% 2016 2017 2018 2019 2020 1Q21 2016 2017 2018 2019 2020 1Q21 FY20 & 1
Slide 17: China Market FY20
China Market FY20 Revenue Market share Online Offline RMB Million RMB Million 2.2 36 Refrigerator 39.3 1.9 106,643 107,678 3.5 39.9 Washing machine 40.2 3.9 Revenue growth 2.411.2 Air conditioner 14.7 2.3 -1.1 5.1 Kitchen appliance 6 1.2 3.2 27.3 Water heater 23.9 3.4 Source: CMM Operating profit ma
Slide 18: China Market FY20
China Market FY20 Revenue by brand Revenue growth by brand Casarte 17% 10% Haier 83% 2.7% Haier Casarte Leader Leader 7% -5.7% Casarte revenue in categories Casarte revenue by categories 9% 13.3% Refrigerator 14.9% 3% 10.5% Washing machine 48% 10.9% FY19 FY20 13% 5.7% AC 6.8% 6.8% Kitchen appliance
Slide 19: Overseas Market FY20
Overseas Market FY20 Revenue RMB Million 101,351 93,319 76,676 2018 2019 2020 Operating profit Operating profit OPM 4.0% 3.9% 3.3% 3,077 3,155 4,000 2018 2019 2020 FY20 & 1Q21 Haier Smart Home 19
Slide 20: Table of Contents
Table of Contents Performance Review 1 Investment Highlights 15 FY20 & 1Q21 Haier Smart Home
Slide 21: Well-positioned Globally to Sustain Leadership in the Future
Well-positioned Globally to Sustain Leadership in the Future Existing Advantages Existing Strategic Advantages Global Expansion 1 China 2 Overseas Appliance Leader Market and Dominance in Market Achieving Further High-end Segment Growth via Localized Operation in Both Developed and Strategic Emergin
Slide 22: Well-recognized Brand Portfolio Serving Diversified Users
Well-recognized Brand Portfolio Serving Diversified Users Overseas strategy of proprietary brands Global brand portfolio with comprehensive coverage Self-grown Brands Integrated Brands (Outdoor kitchen appliances) • Ranked first in Australia & New Zealand’s major household appliance industry by reta
Slide 23: Resource and Experience Sharing on a Unified Platform
Resource and Experience Sharing on a Unified Platform R&D Product Development • Co-develop high-end products • Leveraging on each other’s competitive strength • R&D Collaboration in universal modules and • Regional collaboration among products technology • Share of Patents Applied to Support to resu
Slide 24: Embark upon the digital transformation
Embark upon the digital transformation Building A Digitalised Enterprise of technologies From operation control to full value chain vitalization From process automation to business intelligence Smart Home HOPE Cloud Brain System Global collaboration of AI+IoT system that facilitates innovation platf
Slide 25: Thank You
Thank You