Uni-President Enterprises (1216) Q2 2024 earnings summary

Executive summary

• Consolidated revenue for H1 2024 reached NT$320.88 billion, up 19.4% year-over-year, with strong growth across convenience stores, foods, and packaging segments.

• Gross profit increased by 20.26% year-over-year to NT$106.2 billion.

• Operating profit rose 21.8% year-over-year to NT$17.83 billion.

• Net income attributable to owners for H1 2024 was NT$11.44 billion, a 2.1% increase year-over-year.

• EPS for H1 2024 was NT$2.01, up from NT$1.97 in H1 2023.

Financial highlights

• Gross margin improved to 33.10% from 32.85% year-over-year.

• Operating margin increased to 5.56% from 5.45% year-over-year.

• Pretax margin declined to 7.09% from 11.63% year-over-year.

• Total assets as of June 30, 2024, were NT$688.65 billion, with equity attributable to owners at NT$124.14 billion.

• Cash and cash equivalents at period end were NT$98.74 billion.

Segment performance

• CVS & Other Retail contributed 57% of revenue, growing 3% year-over-year.

• F&B and Feeds accounted for 28% of revenue, up 16% year-over-year.

• Container & Packing made up 4% of revenue, nearly flat year-over-year.

• 'Others' segment revenue grew 35% year-over-year.

• Segment income: F&B and Feeds up 19%, CVS & Other Retail down 3%, Container & Packing up 10%, Others up 57%.