Wh Group Ltd. (hk) · HKEX:288
Wh Group Ltd. (hk) — Wh Group Ltd Ord — Q1 2026 Earnings Presentation
18 slides from Wh Group Ltd. (hk)'s earnings presentation, Apr 28, 2025
Slide 1: Q1 Results
NASDAQ: SFD Ne MORLINY FOODS 2026 Q1 Results
Slide 2: Disclaimer
Disclaimer • This presentation and the accompanying slides (the "Presentation") have been prepared by WH Group Limited ("WH Group" or the "Company") solely for information purposes. • This Presentation does not constitute or form part of and should not be construed as, an offer or invitation to acqu
Slide 3: Table of Contents
Table of Contents 01 2026 Q1 Financial Summary 02 Strategies and Outlook 03 Appendix 2
Slide 4: 2026 Q1 Financial Summary
2026 Q1 Financial Summary 3
Slide 5: Consolidated Financials Overview
Consolidated Financials Overview . Key Operating Data 2026 Q1 2025 Q1 Y-o-Y Change Packaged meats sold (000 metric tons) 781 714 +9.4% Pork sold (000 metric tons) 1,037 982 +5.6% Key Financial Data US$ Million 2026 Q1 (1) 2025 Q1 (1) Y-o-Y Change Revenue 6,994 6,554 +6.7% EBITDA (1) 869 786 +10.6% O
Slide 6: Segment Revenue and Operating Profit
Segment Revenue and Operating Profit 2026 Q1 Revenue by Business Segments (1) 2026 Q1 Operating Profit by Business Segments (2) US$ million US$ million % Others % 13.4% (3.3%) 9.2% 100% (21) 89.9% 86 Total Packaged Pork 6,994 Meats 578 643 39.1% 51.7% Packaged Meats Pork Others Total Operating Profi
Slide 7: Hog Supplies and Prices
Hog Supplies and Prices During Q1 2026, China hog market continued its downward driven by oversupply and weak demand; US hog price stayed relatively stable; EU hog prices declined significantly Y-o-Y due to animal disease, but showed early signs of bottoming out trend. Number of Hogs Produced Hog Pr
Slide 8: Pork Prices and Market Spread
Pork Prices and Market Spread U.S. Pork Prices U.S. Market Gross Spread US$/Kg US$/Kg 2.8 0.25 2.6 0.20 2.4 0.15 2.2 0.10 2.0 0.05 1.8 1.6 0.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 2026 2025 2026 • 2026 Q1, the average pork cutout value
Slide 9: Operating Profit – China
Operating Profit – China Operating Profit and Margin (1) Packaged Meats (2) Pork (2) US$ million US$ million US$ million 251 255 215 203 27.9% 26.7% 11.6% 16 10.7% 1.6% -0.2% -2 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 Operating Profit Operating Profit Margin Note： 1. Percentage marked in whi
Slide 10: Operating Profit – North America
Operating Profit – North America Operating Profit and Margin (1) Packaged Meats(2) Pork (2) US$ million US$ million US$ million 347 330 278 266 13.1% 12.9% 98 9.3% 93 9.0% 3.7% 4.1% 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 Operating Profit Operating Profit Margin Note： 1. Percentage marked in
Slide 11: Operating Profit – Europe
Operating Profit – Europe Operating Profit and Margin (1) Packaged Meats (2) Pork (2) US$ million US$ million US$ million 53 45 45 32 7.9% 6.7% 6.1% 22 4.1% 6.1% 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 Operating Profit -10 Operating Profit Margin -2.7% Note： 1. Percentage marked in white on
Slide 12: Business Strategies
Business Strategies 11
Slide 13: Business Strategies
Business Strategies WH Group will continue to consolidate its global resources, leverage synergies, adhere to the business philosophy of "improve mix, adjust price, and control costs" and the strategy of "industrialization, diversification, globalization and digitalization” to enhance our leading po
Slide 14: Appendix
Appendix
Slide 15: Product Innovation – China
Product Innovation – China High Temperature Products Snacking Products Frozen Products Western Premium Products Low Temperature Products 14
Slide 16: Product Innovation – North America
Product Innovation – North America Pepperoni Enrobed Marinated Loin Half Filets Bacon Hams Nathan’s Beef Hot Dogs Deli Eckrich Smoked Brats Curly’s New Line Kretschmar Prime Fresh Slow Roasted Hot Honey Ham Turkey & Rotisserie Breast Chicken 15
Slide 17: Product Innovation – Europe
Product Innovation – Europe Animex Foods Argal Mecom Contim 16
Slide 18: Investor Relations
Investor Relations Tel: (852) 2868 2828 Email: investor@wh-group.com 17