Dah Chong Hong Holdings Limited 2018 Annual Results Briefing Feb 26, 2019
FORWARD-LOOKING STATEMENTS This document has been prepared by Dah Chong Hong Holdings Limited (“the Company”) solely for general information purposes and is not, and should not be construed as, an offer or solicitation of an offer to buy or sell any securities or financial instruments or to provide any investment services or advices. This document contains statements that constitute “forward -looking statements” . While these forward-looking statements represent our judgments and future expectations concerning the development of our business, various known and unknown risks, uncertainties and other factors could lead to actual developments and results to differ from our expectations. Information and opinions contained herein have been compiled in good faith by the Company, but no representation or warranty, expressed or implied, is made as to their accuracy or correctness. All opinions and estimates contained in this document are provided in good faith but without legal responsibility and are subject to change without notice. The Company or any of its subsidiaries or affiliates, nor any of its or their officers or persons accepts any responsibilities or liability whatsoever from any actions or claims arising from any use or interpretation of information contained herein. This material may not be reproduced or redistributed or transmitted to any other person or incorporated in any way into another document or other material without the prior consent of the Company. 2
2018 Annual Results I Financial Highlights Revenue Profit attributable to Basic earnings per HK$50,878 million shareholders share HK$820 million 2017: HK$51,238 million 44.10 HK cents (-0.7%) 2017: HK$802 million 2017: 43.71 HK cents (+2.2%) (+0.9%) Revenue Profit attributable to Total dividend per (excluding HKFRS 15 & 9) shareholders share HK$53,104 million (excluding HKFRS 15 & 9) 17.43 HK cents 2017: HK$51,238 million HK$856 million 2017: 16.95 HK cents (+3.6%) 2017: HK$802 million (+2.8%) (+6.7%) 3
2018 Annual Results I Key Financial Data Financial Position (HK$’M) 31 Dec 18 31 Dec 17 Chg. Current Assets 16,208 16,225 -0.1% Non Current Assets 11,055 11,026 +0.3% Current Liabilities 12,092 11,589 +4.3% Non Current Liabilities 4,378 4,950 -11.6% Net Asset 10,793 10,712 +0.8% Net Asset Value Per Share (HK$) 5.72 5.80 -1.4% Liquidity Analysis (HK$’M) 31 Dec 18 31 Dec 17 Chg. Cash and Bank Deposits 1,093 1,138 -4.0% Total Debt 6,971 6,927 +0.6% Net Debt 5,878 5,789 +1.5% Total Capital 16,160 15,934 +1.4% Net Gearing Ratio 36.4% 36.3% +0.1 ppt 4
2018 Annual Results I Revenue Revenue by Segment Revenue by Geography 0.1% 6.9% 24.9% 0.1% 9.9% 25.8% 32.0% 67.3% 75.0% 28.5% 67.9% 61.6% 2017 2017 2018 2018 Consumer Motor Other Hong Kong Mainland Others Products Business Markets China and Macao Business 5
2018 Annual Results I Five Year Summary Revenue Profit DCH’s Five Year Performance Summary (HK$M) (HK$M) 52,000 900 800 50,000 700 48,000 600 500 46,000 400 44,000 300 200 42,000 100 40,000 0 2014 2015 2016 2017 2018 Revenue Profit attributable to shareholders 6
Consumer Products Business 7
Consumer Products Business I Overview Revenue by Geography Operating Profit Revenue by Geography (excluding HKFRS 15) By Geography (HK$’M) (HK$’M) (HK$’M) ↓22.7% ↓10.0% ↓37.2% 16,406 16,406 103 164 14,760 37 2,887 2,887 53 12,689 2,420 1,946 350 309 8,809 8,809 8,647 7,151 -198 -284 4,710 4,710 3,693 3,592 2017 2018 2017 2018 2017 2018 Mainland China HK & Macao Other Markets 8
Consumer Products Business I Food and FMCG Mainland China Mainland China Revenue -13.8% Revenue Excluding HKFRS 15 -13.8% Operating Loss +40.9% 9
Consumer Products Business I Food & FMCG Mainland China 10
Consumer Products Business I Food and FMCG Hong Kong & Macao Hong Kong & Macao Revenue -12.0% Revenue Excluding HKFRS 15 -0.9% Operating Profit +7.2% 11
Consumer Products Business I Food and FMCG Hong Kong & Macao Distribution | Food trading | Own Brands | Food Processing | Food Retail Channels Brands 12
Consumer Products Business I Food and FMCG Hong Kong & Macao Distribution | Food trading | Own Brands | Food Processing | Food Retail 13
Consumer Products Business I Food and FMCG Hong Kong & Macao Distribution | Food trading | Own Brands | Food Processing | Food Retail 14
Consumer Products Business I Food and FMCG Hong Kong & Macao Distribution | Food trading | Own Brands | Food Processing | Food Retail 15
Consumer Products Business I Food and FMCG Hong Kong & Macao Distribution | Food trading | Own Brands | Food Processing | Food Retail 16
Consumer Products Business I Electrical Products Electronics Revenue +1.5% Revenue Excluding HKFRS 15 +2.2% Operating Profit +20.0% 17
Consumer Products Business I Electrical Products 18
Consumer Products Business I Logistics Logistics Revenue -12.7% Revenue Excluding HKFRS 15 -12.7% Operating Profit +2.4% 19
Consumer Products Business I Food and FMCG Other Markets Other Markets Revenue -34.6% Revenue Excluding HKFRS 15 -31.6% Operating Loss +68.4% 20
Consumer Products Business I Healthcare Healthcare Revenue -52.1% Revenue Excluding HKFRS 15 -15.0% Operating Profit +19.6% 21
Consumer Products Business I Healthcare 22
Consumer Products Business I Healthcare 23
Motor Business Review 24
Motor Business I Overview Operating Margin Revenue by Geography Operating Profit By Geography (HK$’M) by Geography (HK$’M) ↑9.6% ↓5.4% 38,137 10.2% 1,494 1,576 34,784 1,414 9.4% 2,171 204 5,924 160 5,748 7.3% 7.2% 422 428 30,637 3.2% 26,865 2.7% 868 826 2017 2017 2018 2018 2017 2018 2017 2018 2017 2018 Mainland China HK & Macao Other Markets 25
Motor Business I Mainland China Mainland China Revenue (+14.0%) HK$ 30,637M Vehicles Sold (+8.8%) 112,226 Units Operating Profit (-4.8%) HK$ 826M Aftersales revenue +14.4% Vehicles serviced (+6.2%) 1.2 million units 26
Motor Business I Mainland China 2018 Mainland China Market - Monthly Vehicles Sales Volume ('000) 2H18 ↓10.3% 1H18 ↑5.3% 2,809 2,662 2,656 2,548 2,394 2,380 2,319 2,288 2,274 2,103 1,889 1,718 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2017 2018 Source: China Association of Automobile Manufacturers 27
Motor Business I Mainland China DCH – Monthly Vehicles Sales Volume 2H18 ↑3.8% 1H18 ↑8.3% 11,289 10,629 10,591 10,158 10,170 9,865 9,745 8,929 8,792 8,588 7,904 5,566 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2017 2018 28
Motor Business I Mainland China DCH vs Mainland China Market Overall (YoY % change in terms of number of vehicle units sold) 40.0% 30.0% Mainland China Market DCH 20.0% DCH +8.8% 10.0% 0.0% Market -2.8% -10.0% -20.0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: China Association of Automobile Manufacturers 29
Motor Business I Mainland China At Dec 31 At Dec 31 2017 Opened in Pipeline 4S Shops by Brand At Dec 31 2015 At Dec 31 2018 2016 2018 2019/2020 Audi 6 6 7 7 2 Bentley 7 7 7 7 1 Ferrari / Maserati / Alpha 3 3 3 2 5 Romeo Lexus 6 6 8 1 9 Mercedes Benz 3 4 6 6 3 Buick 4 4 5 5 Chevrolet 4 3 3 3 Honda 11 11 11 1 12 Nissan 5 5 3 3 Toyota 21 21 21 1 22 Lynk & Co 1 1 5 Isuzu / Qingling 5 5 4 2 6 Man 0 1 Haima 1 1 Others 4 3 1 1 Total 79 78 80 8 88 12 30
Motor Business I Mainland China 31
Motor Business I Mainland China 32
Motor Business I Hong Kong and Macao Hong Kong & Macao Revenue (+3.1%) HK$ 5,924M Vehicles Sold (-1.3%) 11,452 Units Operating Profit (+1.4%) HK$ 428M 33
Motor Business I Initiatives 34
Motor Business I Other Markets Other Markets Revenue (-27.4%) HK$ 1,576M Vehicles Sold (-12.5%) 3,692 Units Operating Profit (-21.6%) HK$ 160M 35
Motor Business I Current Initiatives +8 4S Shops in 15 years contract Princess Yacht Eastern and Launched C2C as sole operator expansion and Southwestern usedcarmart.hk of GSE at HKIA showroom China Expand Digitise Expand Diversify Strategic alliance Expansion of Double Decker Parts+ with Tencent for motor leasing buses on HKZM Mobile App “Smart” 4S into 33 cities Bridge Development Shops Expand Digitise Diversify Digitise 36
Recommend
More recommend
