Gome Retail Holdings Limited · HKEX:493
Gome Retail — Q1 2009 Earnings Presentation
16 slides from Gome Retail's earnings presentation, May 2009
Slide 1: 2009 Q1 Results Announcement
2009 Q1 Results Announcement May 2009
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”) which have been prepared by GOME Electrical Appliances Holding Limited (“GOME” or the “Company”) do not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or
Slide 3: Table of Contents
Table of Contents Financial Review 2009 Q1 Business Review 2009 Q1 ANNUAL RESULTS 2008 | Page 3
Slide 4: Financial Review 2009 Q1
Financial Review 2009 Q1 ANNUAL RESULTS 2008 | Page 4
Slide 5: Income Statement Summary
Income Statement Summary RMB Million 2008 Q1 2009 Q1 Change % Revenue 12,176 9,801 (19.51%) Consolidated Gross profit 1,870 1,549 (17.17%) Profit from Operating Activities 532 321 (39.66%) Profit before Tax 641 395 (38.38%) Net Profit Attributable to Shareholders 513 322 (37.23%) Consolidated Gross
Slide 6: Consolidated Gross Margin and Other Income Analysis
Consolidated Gross Margin and Other Income Analysis RMB Million 2,000 15.36% 20% 18% 15.81% 16% Sublease Others Government 14% Subsidy Income 8% 726 1% 3% 587 12% 1,000 10% Air- Conditioner 8% Installation Fee 1,145 6% 6% 962 4% 2% Management Fee from Non-listed Gome Group 0 0% 7% Suppliers 2008 Q1
Slide 7: Operating Expenses Analysis
Operating Expenses Analysis As a percentage of Revenue: 12.5％ 0.6% Other Operating 11% 1.3% Expenses 0.6％ Other Operating 1.3% Expenses 1.3％ 0.6% Administrative Expenses 1.9％ Administrative 1.1% 1.1% Expenses 1.5％ 0.8% 0.4% 0.8% 0.4% 0.4% 0.7% 0.4% 2.4% 0.8% 1.5% Selling & Distribution Selling & Dis
Slide 8: Business Review 2009 Q1
Business Review 2009 Q1 ANNUAL RESULTS 2008 | Page 8
Slide 9: Key Factors Impacting 2009 Q1 Performance
Key Factors Impacting 2009 Q1 Performance We saw consumer sentiment remaining weak throughout Q1 2009, exerting downward pressure on volume growth. ASPs continued to be under pressure during the reporting period. However, revenue and net profit recovered in Q1 2009 as compared to Q4 2008. ANNU
Slide 10: Operating Scale
Operating Scale Number of Stores Revenue 45,889 859 816 RMB million 42,479 726 572 24,729 17,959 259 12,176 9,801 2005 2006 2007 2008 1Q2009 2005 2006 2007 2008 1Q2008 1Q2009 Store Network Coverage Sales Area at Period End Number of Cities Sq.m. 3,120,000 3,002,863 205 205 182 2,640,000 160 2,220,00
Slide 11: Continued Improvement in Consolidated Gross Profit Margin
Continued Improvement in Consolidated Gross Profit Margin 20.0% 17.67% 16.77% 17.26% 17.5% 16.22% 16.41% 14.02% 15.0% 17.67% 15.78% 15.36% 14.98% 15.80% 12.5% 13.29% 12.90% 10.0% 7.5% 5.0% 2.5% 0.0% 06Q1 06Q2 06Q3 06Q4 07Q1 07Q2 07Q3 07Q4 08Q1 08Q2 08Q3 08Q4 09Q1 Strategies to stabilize and improve
Slide 12: Revenue Mix by Product
Revenue Mix by Product Audio Visual 5.47% 5.20% Refrigerators & Washing 7.23%% 7.74% Machines 34.10% Telecom 33.9% 9.56% 9.78% Small Electrical Appliances 11.84% 11.71% Air Conditioners 18.26% 18.11% Digital Products 13.89% 13.21% IT 2008Q1 2009 Q1 Total: RMB 12.18 billion Total: RMB 9.8 billion ANN
Slide 13: Continuous Improvement in Gross Profit Margin by Product
Continuous Improvement in Gross Profit Margin by Product 2008Q1 15.0% 13.43% 2009Q1 12.64% 10.52% 10.05% 8.91% 9.65% 10.05% 8.96% 10.0% 8.61% 8.52% 7.71% 7.64% 6.02% 5.70% 5.0% 0.0% AV Air Con Appliances Refrigerator Telecom & Washing IT Digital Electrical Machine Small ANNUAL RESULTS 2008 | Page 13
Slide 14: Stable Supplier Relationships
Stable Supplier Relationships Top 5 Suppliers' Contribution to GOME's Purchases for 2008 Q1 32.5% 9.1% 8.0% 6.5% 4.7% 4.2% Haier Samsung Sony Nokia Midea Total Top 5 Top 5 Suppliers' Contribution to GOME's Purchases for 2009 Q1 31.0% 9.4% 7.9% 4.8% 4.6% 4.4% Haier Samsung Sony Midea Nokia Total Top
Slide 15: More Room for Operating Efficiency Improvement
More Room for Operating Efficiency Improvement Same-Store Sales Growth (YoY) Sales per sq.meter 5.00% 3.11% RMB/sq.m. 1.63% 0.00% 6,000 2005 2006 2007 2008Q4 2009Q1 -2.50% 5,000 -5.00% 4,000 -10.00% 3,000 -15.00% 2,000 -20.00% -20.75% 1,000 -25.00% Note: There were 604 comparable stores in Q1 2009 0
Slide 16: Thank You
Thank You ANNUAL RESULTS 2008 | Page 16 The Ending Page