Tingyi (cayman Islands) Holding Corp. · HKEX:322
Tingyi (cayman Islands) — FY2023 Earnings Presentation
17 slides from Tingyi (cayman Islands)'s earnings presentation, Mar 26, 2024
Slide 1: Presentation on 2023 Annual 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. 2023 Annual Results
Tingyi Holding Corp. 2023 Annual Results 26 March 2024
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 no representation or warranty express or implied is made as to, and no reliance, should be placed on, the fairness, accuracy, completenes
Slide 4: Financial Highlights
Business Review Financial Highlights RMB in Million 2023 2022 YOY Revenue 80,418 78,717 2.16% Gross Profit 24,467 22,899 6.85% Gross Margin 30.42% 29.09% 1.33ppt EBITDA 8,207 7,210 13.82% Net Profit 3,517 3,076 14.33% Profit Attributable to Owners of the Company 3,117 2,632 18.43% Net Margin 3.88% 3
Slide 5: Revenue by Segment
Business Review Revenue by Segment Revenue and Structure Revenue Revenue Structure RMB in Million 90,000 RMB in Million 2023 2022 YOY 2023 2022 YOY 0.86%, 686 0.95%, 747 80,000 70,000 Instant Noodles 28,793 29,634 -2.84% 35.80% 37.65% -1.85ppt 60,000 63.34%, 61.40%, 50,000 50,939 48,336 40,000 Bever
Slide 6: Instant Noodle Revenue by Product
Business Review Instant Noodle Revenue by Product RMB in Million 2023 2022 YOY Snack Noodle & Others Bowl 2% 47% Mid-priced Bowl 13,507 13,495 0.09% 2023 Packet 10% High-priced Packet 11,850 12,691 -6.63% High-priced Packet 41% Snack Noodle & Others Bowl Mid-priced Packet 2,984 3,096 -3.61% 2% 46% M
Slide 7: Beverage Revenue by Product
Business Review Beverage Revenue by Product RMB in Million 2023 2022 YOY CSD & Others 36% Tea 39% Tea 20,059 18,755* 6.96% 2023 Water 5,375 4,897 9.78% Water, 11% Juice, 14% Juice 7,150 6,843 4.47% CSD & Others Tea 37% 39% CSD & Others 18,355 17,841* 2.88% 2022 Total 50,939 48,336 5.39% Juice, 14% W
Slide 8: Gross Margin by Segment
Business Review Gross Margin by Segment Gross Margin % % 2023 2022 YOY 40 35 Instant Noodles 27.00 23.95 3.05ppt 30 Beverages 32.10 31.95 0.15ppt 25 20 Others 49.44 47.90 1.54ppt 15 21H1 21H2 22H1 22H2 23H1 23H2 Total 30.42 29.09 1.33ppt Total Instant Noodles Beverages 7 ©2024 Tingyi (Cayman Islands
Slide 9: Net Profit by Segment
Business Review Net Profit by Segment RMB in Million RMB in Million 2023 2022 YOY 3000 2500 Instant Noodles 2,008 1,375 46.10% 2000 Beverages 1,660 1,822 -8.91% 1500 1000 Others -151 -121 -25.36% 500 0 Total 3,517 3,076 14.33% 21H1 21H2 22H1 22H2 23H1 23H2 Total Instant Noodles Beverages 8 ©2024 Tin
Slide 10: Profit Attributable to Owners of the Company
Business Review Profit Attributable to Owners of the Company RMB in Million RMB in Million 2023 2022 YOY 3000 2500 Instant Noodles 2,008 1,375 46.10% 2000 Beverages 1,260 1,378 -8.57% 1500 1000 Others -151 -121 -25.36% 500 0 Total 3,117 2,632 18.43% 21H1 21H2 22H1 22H2 23H1 23H2 Total Instant Noodle
Slide 11: EBIT Margin
Business Review EBIT Margin EBIT Margin % % 2023 2022 YOY 15 Instant Noodles 8.79 5.35 3.44ppt 10 Beverages 4.10 4.56 -0.46ppt 5 Others 20.36 20.63 -0.27ppt 0 21H1 21H2 22H1 22H2 23H1 23H2 Total 5.92 5.01 0.91ppt Total Instant Noodles Beverages 10 ©2024 Tingyi (Cayman Islands) Holding Corp., All rig
Slide 12: Cash Flow and Capex
Business Review Cash Flow and Capex Net Cash from Operating Activities CapEx RMB in Million RMB in Million 9,000 9,000 25,000 8,000 8,000 7,000 20,000 7,000 6,000 5,418 5,495 6,000 15,000 5,000 4,475 5,000 4,000 4,000 3,644 3,239 10,000 2,998 3,000 3,000 2,000 2,000 5,000 1,000 1,000 - - 2021 2022 2
Slide 13: Shareholder Return
Business Review Shareholder Return Shareholder Return RMB in Million 195% 15,000 200% 166% 150% 10,000 100% 100% 100% 100% 6,302 100% 5,132 5,000 4,062 3,331 3,117 2,463 50% - 0% 2018 2019 2020 2021 2022 2023* Final Dividend Special Final Dividend Special Interim Dividend Payout Ratio * Proposed 12
Slide 14: Operation Efficiency
Business Review Operation Efficiency ROA and ROE Cash Conversion Days % Days 30% 0 22.87% -10 19.12% 20% 16.44% -20 -19.2 -19.8 8.62% 8.53% -23.3 10% 6.64% -30 0% -40 2021 2022 2023 2021 2022 2023 ROA ROE 13 ©2024 Tingyi (Cayman Islands) Holding Corp., All rights reserved.
Slide 15: Key Financial Indicators
Business Review Key Financial Indicators RMB in Million 2023 2022 YOY ROA 8.53% 6.64% 1.89ppt ROE 22.87% 16.44% 6.43ppt Current Ratio 0.70 0.76 -0.06 Gearing Ratio* -7.27% -16.97% 9.70ppt A/R Turnover Days 7.69 8.93 -1.24 Finished Goods 19.53 20.77 -1.24 Turnover Days *Long-term time deposits were a
Slide 16: Material Price Index
Business Review Material Price Index 1H/21=100 160 151 141 140 133 123 124 120 118 114 100 110 93 80 1H/21 2H/21 1H/22 2H/22 1H/23 2H/23 PET Resin Palm Oil Flour Sugar 15 ©2024 Tingyi (Cayman Islands) Holding Corp., All rights reserved.
Slide 17: Nation-wide Production and Distribution Network
Business Review Nation-wide Production and Distribution Network As at 31/12/2023 As at 31/12/2022 Production Lines Instant Noodles 166 165 Beverages 394 399 Others 11 11 Distribution Network Sales Office * 348 337 Warehouse 303 322 Wholesaler 76,875 76,528 Direct Retailer 217,087 254,975 * Sales Off
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