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China. In 2015, Zhujiang Brewery slightly reduced its operating income and production volumes

In 2015, the company produced 1.1598 million tons of beer which is 0.86% less than last year. The operating income decreased by 0.19% to 3516.97 million yuan.

Despite the declining trend in the beer market and the second year of hardening competition in the industry, Zhujiang Brewery seeks to become a leader among beer producers in the premium segment.

 

2013-2015 Financial results, yuan

 

 

 

2015

 

2014

 

This year over last year

 

2013

 

Operating income

 

3,516,971,452.24

 

3,523,776,817.24

 

-0.19%

 

3,349,142,763.97

 

Net profit attributable to shareholders of listed companies

83,155,318.9560,394,478.0137.69%41,237,683.91
 

Net profit attributable to shareholders of listed companies of non-recurring gains and losses

 

47,196,078.89

 

46,619,925.00

 

1.24%

 

17,234,081.32

 

Net cash flow from operating activities

722,091,768.561,167,236,126.28-38.14%1,219,670,016.30
 

Basic earnings per share (yuan/share)

0.120.0933.33%0.06
 

Diluted earnings per share (yuan/share)

0.120.0933.33%0.06
 

Weighted average return on net assets

 

1.41%

 

1.27%

 

0.14%

 

1.27%

 

 

2015 The end2014 The end 

The decrease over the previous year end

2013 The end
 

Total Assets

6,484,938,986.166,284,537,028.653.19%5,744,543,505.25
 

Net assets attributable to shareholders of listed companies

3,391,487,232.673,323,582,244.422.04%3,273,390,192.93

 

Zhujiang Brewery increased its operating income from beer sales by 0.46%, at the same time, sales profitability increased by 0.83 percentage point to 42.02%.

The decline in incomes from leasing catering services and the costs increase in this sector also had a negative impact on the final result of the activity. Note that the policy of limiting the number of banquets is called one of the reasons of the Chinese beer market drop.

 

The main business (more than 10%) income 2015

 

 

Operating incomeOperating costGross marginOperating income over the period last yearOperating costs over the period last yearGross margin period last year
 

By product

 

Beer sales

 

3,407,066,506.46

 

2,009,456,677.13

 

41.02%

 

0.46%

 

-0.94%

 

0.83%

 

Yeast feed sales

 

24,769,712.82

 

 

 

100.00%

 

-16.08%

 

 

 

 

 

Packaging Materials

 

3,114,322.44

 

2,708,459.02

 

13.03%

 

-0.32%

 

-6.33%

 

5.58%

 

Leasing catering services

 

27,936,367.36

 

26,690,963.11

 

4.46%

 

-25.21%

 

16.62%

 

-34.27%

 

Other

 

54,084,543.16

 

34,552,438.76

 

36.11%

 

-13.07%

 

-7.20%

 

-4.04%

 

REGION

 

South China

 

3,335,448,905.13

 

1,930,380,436.47

 

42.13%

 

2.26%

 

1.14%

 

0.64%

 

Other areas

 

181,522,547.11

 

143,028,101.55

 

21.21%

 

-30.70%

 

-21.83%

 

-8.94%

 

Despite the fact that the main income of the company provides the market of southern China, the decline in sales in other regions led to a reduction in revenues.

The company declares the following the "Dual focus" strategy, focusing on market strengths and key markets. Zhujiang Brewery seeks to expand its geographical presence and increase its share on the previously developed markets, especially in rapidly developing southern China. In addition, the company actively promotes the Pearl River brand and its non-alcoholic version.

We would like to remind that 25.62% of the shares of Zhujiang Brewery are owned by AB InBev.

31 Mar. 2016

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