Click here to close now.

Welcome!

News Feed Item

Huiyuan Juice Announces 2013 Annual Results

Enhanced Product Mix Drives Steady Business Growth

HONG KONG, March 18, 2014 /PRNewswire/ --

Financial Highlights:

RMB million

For the year ended
31 December

Change (%)

2013

2012

Revenue

4,503.9

3,980.8

+13.1

Gross profit

1,398.3

1,115.2

+25.4

Gross profit margin

31.0%

28.0%

+3.0% pts

Profit attributable to equity holders

228.5

16.2

+1,313.8

*Adjusted profit attributable to equity holders

330.9

101.9

+224.9

EBITDA

971.2

604.9

+60.6

Earnings per share (RMB fen)




-       Basic

13.5

1.1

+1127.3

-       Diluted

13.5

1.1

+1127.3


* Excluding interest expenses on convertible bonds, change in fair value of conversion rights of the convertible bonds, exchange gain relating to the convertible bonds and amortization of employee share option scheme.

China Huiyuan Juice Group Limited ("Huiyuan Juice" or the "Company", stock code: 1886.HK) is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively known as the "Group") for the year ended 31 December 2013 (the "Period").

During the Period, the Group achieved revenue of approximately RMB4.5 billion, up 13.1% year-on-year mainly due to higher sales volume of 100% juice and nectars, as well as an increase in average selling price of juice drinks. Gross profit increased 25.4% year-on-year to approximately RMB1.4 billion, while gross profit margin improved from 28.0% for 2012 to 31.0% for the full year of 2013. The margin improvement was attributable to greater sales contribution from 100% juices and nectars and higher margins from juice drinks resulting from the launch of new products.

Huiyuan Juice maintained a leading position in China's 100% juice and nectar markets. According to Nielsen, the Company commanded a 56.0% share in the 100% juice market and a 45.2% share in the nectar market by sales volume in 2013.

During the period, adjusted profit attributable to equity holders reached RMB331 million in the Period, up from approximately RMB102 million for the previous year. Basic earnings per share was RMB13.5 cents EBITDA for the Period climbed 60.6% year-on-year to approximately RMB971 million.

2013 was a significant year in the development of the Company. The Company announced and subsequently completed the acquisition of Huiyuan Industry, a leading producer of fruit juice concentrates and purees in China and one of our major suppliers of raw materials. The acquisition was of strategic importance for a number of reasons; 1) it transformed the group into a vertically-integrated business model and secures long term-access to key raw materials; 2) it improves quality control and food safety controls; 3) it further diversifies revenue; 4) it increases the transparency of the Group and significantly reduces connected transactions; 5) it improves the financial strength of the Group and allows it to continue to reinvest for future growth; 6) it improves the group's operational efficiency as well as generates potential synergies. As a result of this transaction, the Company is uniquely positioned in the fruit and vegetable juice industry in China with a vertically-integrated business model with operations along the value-chain from fruit-processing to sales and marketing.

In July 2013, the Company appointed Mr. Daniel Saw as CEO of the Company. He has quickly assembled a first-tier management team and has initiated changes throughout the organization in sales and marketing, and supply chain.

During the period, the Group disposed of two plants in Chengdu and Shanghai for an aggregate consideration of RMB650 million. Looking ahead, the Company will continue to identify similar opportunities to dispose of assets with low efficiency and further optimize our capital structure, in order to enhance operational efficiency, capacity utilization, and its financial structure as a whole.

Mr. Daniel Saw, Chief Executive Officer of the Group, said, "In 2013, leveraging its leading position, Huiyuan Juice transformed into a vertically-integrated business model through asset integration. The Group successfully enhanced its core competency and brand capability. In addition, the Group proactively improved its product mix and launched new products accommodating the shifting consumer trends, thereby achieving favorable sales performance and steady growth in results."

Commenting on the Group's future development, Mr. Zhu Xinli, Chairman of Huiyuan Juice, noted, "With continuing urbanization and improving living standards in China, domestic consumers have become more concerned with food safety and health and wellness. This is a very favorable trend for Huiyuan. Our reputable brand, product quality, and the healthiness of our products appeal to consumers at large. During the Period, the Group's recent efforts to improve our asset structure and achieve vertical integration began to bear fruits. Looking ahead, we are committed to the core values of "to value our customers, to embrace struggle and to reward contributors," and will continue to drive our business performance and future growth momentum to reward all of our customers, partners and shareholders."

About China Huiyuan Juice Group Limited

Huiyuan Juice, founded in 1992, is a leading modern fruit and vegetable juice producer and is the leading brand in China's juice market. According to Nielsen, Huiyuan Juice was the largest 100% juice and nectar producer in China in terms of sales volume for the year ended 31 December 2013. It commanded a 56.0% share in the 100% juice market and a 45.2% share in the nectar market. Huiyuan Juice has a nationwide distribution network and production plants in strategic locations. Its products are exported to various countries and regions, including the U.S. and Japan.

SOURCE China Huiyuan Juice Group Limited

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI In...
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users? Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult – let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and liv...
SYS-CON Media announced today that CloudBees, the Jenkins Enterprise company, has launched ad campaigns on SYS-CON's DevOps Journal. CloudBees' campaigns focus on the business value of Continuous Delivery and how it has been recognized as a game changer for IT and is now a top priority for organizations, and the best ways to optimize Jenkins to ensure your continuous integration environment is optimally configured.
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than
"In the IoT space we are helping customers, mostly enterprises and industry verticals where time-to-value is critical, and we help them with the ability to do faster insights and actions using our platform so they can transform their business operations," explained Venkat Eswara, VP of Marketing at Vitria, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
The most often asked question post-DevOps introduction is: “How do I get started?” There’s plenty of information on why DevOps is valid and important, but many managers still struggle with simple basics for how to initiate a DevOps program in their business. They struggle with issues related to current organizational inertia, the lack of experience on Continuous Integration/Delivery, understanding where DevOps will affect revenue and budget, etc. In their session at DevOps Summit, JP Morgenthal...
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
"The idea of polyglot persistence is you have to apply the right database for the job - you always have to have many different databases in play. We offer that whole system as a service," explained Raj Singh, Developer Advocate for IBM Cloud Data Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
In his session at 16th Cloud Expo, Simone Brunozzi, VP and Chief Technologist of Cloud Services at VMware, reviewed the changes that the cloud computing industry has gone through over the last five years and shared insights into what the next five will bring. He also chronicled the challenges enterprise companies are facing as they move to the public cloud. He delved into the "Hybrid Cloud" space and explained why every CIO should consider ‘hybrid cloud' as part of their future strategy to achie...