Labixiaoxin Snacks Group Ltd. · HKEX:1262
Labixiaoxin Snacks — H1 2013 Earnings Presentation
13 slides from Labixiaoxin Snacks's earnings presentation, Aug 28, 2013
Slide 1: Presentation on 2013 Interim Results
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Slide 2: Labixiaoxin Snacks Group Limited
(Incorporated in Bermuda with Limited Liability)
Slide 3: Disclaimer
Disclaimer The presentation is prepared by Labixiaoxin Snacks Group Limited (the “Company”) and its subsidiaries (the “Group”) and is intended solely for the purpose of corporate communication and your personal reference only. The presentation is not intended as an offer to sell, or to solicit an of
Slide 4: Overview
Overview Sales (RMB Million) Gross Profit (RMB Million) 41.0% 633.3 41.7% 40.0% 67.3 41.1% 1,546.5 36.7% 512.5 81.5 1,279.7 34.6 65.2 406.7 341.4 2.8 975.5 10.9 342.0 52.8 931.7 32.4 831.7 25.2 32.5 20.2 484.5 412.7 298.6 296.0 321.5 2010 2011 2012 1H12 1H13 2010 2011 2012 1H12 1H13 Jelly Products C
Slide 5: Overview (Continue)
Overview (Continue) Debts / Gearing Debts / EBITDA (LTM) (RMB Million) 27.5% 1.0x 14.1% 11.0% 489.1 4.5% 0.5x 0.5x 5.7% 0.2x 157.0 0.2x 92.0 75.1 87.0 87.0 0 2010 2011 2012 1H12 1H13 2010 2011 2012 1H12 1H13 Debts Gearing Net Cash / Debt Position Total Equity / ROE (LTM) (RMB Million) (RMB Million)
Slide 6: Sales
Sales Sales (by Product) Sales (by Channel) (RMB Million) (RMB Million) 1,546.5 70.9 196.2 1,279.7 252.8 209.7 95.0 106.3 166.2 975.5 210.5 931.7 831.7 9.5 28.4 49.8 458.2 123.9 71.9 142.4 106.1 359.1 42.6 79.7 83.9 54.3 125.3 245.6 1,222.8 302.4 271.7 974.2 859.8 804.7 682.4 663.8 648.1 426.0 530.2
Slide 7: Gross Profit Margin
Gross Profit Margin GP Margin (by Product) GP Margin (by Channel) 42.5% 45 42.4% 42.4% 60 41.0% 38.5% 53.2% 52.7% 53.0% 40 40.3% 52.7% 38.9% 50 39.2% 37.3& 38.6% 35 30.6% 43.0% 42.5% 34.3% 30 32.6% 31.7% 29.3% 40 38.4% 39.8% 36.6% 25 36.7% 37.5% 38.7% 38.7% 37.7% 30 20 21.9% 15 20 10 10 5 0 0 2010 2
Slide 8: Cost of Sales
Cost of Sales 2013 1H 2012 1H 11.9% 13.0% 12.8% 2.9% 17.5% 6.0% 3.1% 14.2% 15.3% 4.1% 7.0% 6.1% 4.7% 5.6% 37.3% 38.5% Other Flavoring/ Jelly Powder Sugar Other Flavoring/ Jelly Powder Sugar Fruit Package Fruit Package Labor Depreciation Labor Depreciation Manufacturing costs Cost of OEM items Manufa
Slide 9: For Comparison Purpose
For Comparison Purpose Changes 1H13 1H12 1H13 1H12 1H13 1H12 (RMB Million) (%) Reported Financials Adjustments Adjusted Financials Sales 975.5 831.7 33.4 - 1008.9 831.7 21.3 COGS (568.8) (490.3) - - (568.8) (490.3) 16.0 Gross Profit 406.7 341.4 33.4 - 440.1 341.4 28.9 GP Margin 41.7% 41.1% 43.6% 41.
Slide 10: Operating Expenses
Operating Expenses Selling and Distribution Expenses (RMB Million) Administrative Expenses (RMB Million) (RMB Million) (RMB Million) 4.8% 4.5% 14.5% 13.2% 13.2% 4.4% 203.5 169.2 36.9 13.4% 12.2% 3.9% 30.9 3.4% 134.8 52.3 21.4 111.3 118.8 41.9 70.0 16.5 26.2 35.7 1.8 56.5 44.9 29.6 114.3 32.1 33.5 96
Slide 11: Working Capital Management & CAPEX
Working Capital Management & CAPEX Working Capital Cycle (RMB Million) Capital Expenditure (RMB Million) Days 100 Payables 80 60 Receivables 361.9 40 324.4 Inventory 20 170.6 Cash conversion cycle 152.0 0 104.3 2010 2011 2012 1H12 1H13 -20 2010 2011 2012 1H12 1H13 Operating Cash Flow (RMB Million) F
Slide 12: Flavor Milk
Flavor Milk Where they are selling… 10 Where they are producing…
Slide 13: Thank You
— THANK YOU f/-
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