Tingyi (Cayman Islands) Holding Corp. · HKEX:322
Tingyi (Cayman Islands) — Q1 2013 Earnings Presentation
17 slides from Tingyi (Cayman Islands)'s earnings presentation, May 20, 2013
Slide 1: Presentation on 2013 First Quarterly 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
Slide 2: Tingyi Holding Corp. 1Q 2013 Results
0322 HK Tingyi Holding Corp. 1Q 2013 Results 20 May 2013, Hong Kong Corporate web site: www.masterkong.com.cn Email: IR@tingyi.com © 2013 Tingyi (Cayman Islands) Holding Corp. All rights reserved.
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
Slide 4: 1Q 2013 – Sales & Profit
1Q 2013 – Sales & Profit US$ million 1Q2013 1Q2012 Change% Turnover 2,648 1,927 37.39 Gross Profit 775 561 38.15 Gross Margin 29.27% 29.11% 0.16ppt. EBITDA 295 445 ‐33.67 Profit 117 304 ‐61.44 Profit after Deducting Special Gain 117 113 3.51 Profit Attributable to Owners of the 105 199 ‐47.42 Compan
Slide 5: Turnover by Products
Turnover by Products US$ million 1Q2013 1Q2012 Change% Instant Noodles 1,105 1,030 7.31 Beverage 1,462 817 78.89 Instant food 57 59 ‐3.56 Others 24 21 12.59 Total 2,648 1,927 37.39 1Q2012 1Q2013 Instant Instant Beverages Food Food 42% 3% Beverages 2% Noodle 55% 42% © 2013 Tingyi (Cayman Islands) Hol
Slide 6: Instant Noodle Sales by Products
Instant Noodle Sales by Products US$ million 1Q2013 1Q2012 Change% Bowl 524 488 7.32 High‐ended Packet 423 404 4.54 Mid‐ended Packet 138 121 14.50 Others 20 17 17.65 Total 1,105 1,030 7.31 1Q2012 20131Q Mid‐ended Mid‐ended Others 3% Packet 12% Others 2% Packet 12% © 2013 Tingyi (Cayman Islands) Hold
Slide 7: Beverage Sales by Products
Beverage Sales by Products US$ million 1Q2013 1Q2012 Change% Tea 764 477 60.17 Water 155 132 17.42 Juice 150 208 ‐27.88 Carbonated drinks and 393 ‐ ‐ Others Total 1,462 817 78.89 1Q2012 1Q2013 Juice 26% CSD & Juice Others Water 10% 27% © 2013 Tingyi (Cayman Islands) Holding Corp. All rights reserved
Slide 8: Gross Margin by Products
Gross Margin by Products 40.00% 37.34% 38.17% 35.00% 29.85% 30.16% 29.11% 29.27% 27.93% 28.42% 30.00% 25.00% Percentage 20.00% 15.00% 1Q2012 10.00% 1Q2013 5.00% 0.00% Instant Beverages Instant Overall Noodles Food © 2013 Tingyi (Cayman Islands) Holding Corp. All rights reserved. Types of Food Change
Slide 9: EBIT by Products
EBIT by Products US$’ 000 1Q2013 1Q2012 Change% Instant noodles 127,097 124,961 1.71 Beverages 57,715 231,536 ‐75.07 Beverages‐after excluding gain on 57,715 40,954 40.93 bargain purchase Instant food 1,056 271 289.03 Others 2,004 3,568 ‐43.83 © 2013 Tingyi (Cayman Islands) Holding Corp. All rights
Slide 10: Profit
Profit US$’ 000 1Q2013 1Q2012 Change% Instant noodles 97,303 93,846 3.68 Beverages 20,438 206,922 ‐90.12 Beverages‐after excluding gain on 20,438 16,340 25.08 bargain purchase Instant food 805 56 1,337.5 Others ‐1,445 2,893 ‐149.95 Profit 117,101 303,717 ‐61.44 © 2013 Tingyi (Cayman Islands) Holding
Slide 11: Financial Position
Financial Position 1Q2013 FY2012 *ROA (Annualized) 9.57% 12.30% **ROE (Annualized) 16.10% 19.81% Current Ratio 0.73 0.70 Gearing Ratio ‐0.03 0.25 A/R Turnover /Days 8.38 7.69 Finished Goods Turnover/Days 12.28 12.11 © 2013 Tingyi (Cayman Islands) Holding Corp. All rights reserved. *ROA：EBIT to avera
Slide 12: Material Prices Trends
Material Prices Trends RMB/Ton Flour 3,330 Palm Oil 3,500 11,500 3,300 10,500 3,100 9,500 2,900 2,700 8,500 6,440 2,500 7,500 2,300 6,500 2,100 5,500 1,900 1,700 4,500 1,500 3,500 06 06 07 07 08 08 09 09 10 10 11 11 12 12 13 6 / 06 Q/ 07 Q/ 07 Q/ 08 Q/ 08 Q/ 09 Q/ 09 Q/ 10 Q/ 10 Q/ 11 Q/ 11 Q/ 12 Q/
Slide 13: 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 康師傅 % % Tingyi 康師傅 60.0 57.4 57.1 57.1 56.7 56.5 50.0 54.1 54.9 56.5 44.9 52.1 44.0 43.1 42.3 42.7 43.3 42.9 44.0 43.9 57.1 56.2 56.3 56.3 41.4 42.1 41.8 41.2 55.7 56.0 41.1 40.8 54.2 39.7 40.1 50.0 53.0 40.0
Slide 14: RTD Tea Market Share by Volume and Value
RTD Tea Market Share‐by Volume RTD Tea Market Share‐by Value 60.0 60.0 % % Tingyi 康師傅控股 54.9 54.4 Tingyi 康師傅控股 5 6 .1 5 3 .4 5 4 .1 5 1 .6 5 0 .3 5 6 .3 4 9 .7 50.0 4 7 .4 4 7 .8 5 2 .2 5 3 .4 5 0 .9 50.8 50.0 5 1 .5 4 7 .2 4 8 .3 4 6 .3 4 5 .2 4 6 .7 45.6 4 4 .9 4 3 .0 4 3 .9 4 7 .7 4 7 .4 4 7 .6 4
Slide 15: RTD Tea (exclude milk tea) Market Share
RTD Tea (exclude milk tea) Market Share‐by Volume RTD Tea (exclude milk tea) Market Share‐by Value 70.0 70.0 % % Tingyi 康師傅控股 Tingyi 康師傅控股 5 7 .1 57.3 5 7 .1 60.0 5 6 .1 5 5 .9 60.0 56.5 5 5 .1 54.5 5 3 .1 58.4 5 2 .5 5 7 .5 5 1 .1 52.2 52.0 5 6 .7 56.8 50.7 5 5 .6 55.2 53.6 5 3 .5 50.0 4 6 .1 4 6 .
Slide 16: Diluted Juice Drinks and Bottled Water Market Share by Volume
Diluted Juice Drinks (5‐39% juice content) Bottle Water Market Share‐by Volume Market Share‐by Volume 40.0 30.0 % % Tingyi 康師傅控股 Player A 2 5 .7 35.0 33.6 33.5 2 5 .1 2 5 .3 33.2 32.4 2 4 .1 24.1 31.7 32.1 31.9 31.7 32.1 25.0 2 3 .6 30.7 30.8 2 2 .6 2 2 .7 29.9 30.1 30.0 2 2 .6 2 2 .5 29.5 29.4 2 1
Slide 17: Nation-Wide Distribution Network and Production Centre
Nation‐Wide Distribution Network and Production Centre a) Distribution Network As at 31/3/2013 As at 31/12/2012 Sales Office 581 571 Warehouse 89 95 Wholesaler 33,366 32,424 Direct Retailer 108,962 107,131 b) Production Lines Noodles 206 215 © 2013 Tingyi (Cayman Islands) Holding Corp. All rights re
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