On April 29, Yili released its 2023 financial report and operating data for the first quarter of 2024.
Continued growth in 2023
Yili's 2023 financial report shows that the company's total operating income in 2023 will be 126.179 billion yuan, a year-on-year increase of 2.49%. The net profit attributable to the parent company was 10.429 billion yuan, a year-on-year increase of 10.58%.
Among them, the milk powder and milk products business achieved operating income of 27.598 billion yuan, an increase of 5.09% over the previous year, and a gross profit margin of 38.14%. In the case of the shrinking trend of the milk powder market, Yili's milk powder business still maintained continuous growth.
According to the third-party market research data of Nielsen and Xingtu, the market share of Yili's infant formula milk powder retail sales was 16.2% (including Ausnutria), an increase of 1.6 percentage points over the previous year, and the market share of adult milk powder retail sales was 23.3%, ranking first in the market segment.
Four major growth directions
According to the financial report, Yili summarized the main performance drivers in 2023.
1. Accelerate the layout of the "big health" industry. A number of breakthrough innovations have been made in the field of forward-looking technology. Including "Xinhuo" and "Qingmu" series of base flavored formula, "Jinlingguan" new generation of infant formula, "Yili" health science BL-99 ready-to-eat probiotic powder and Ausnutria Dairy's series of nutritional health products.
2. Relying on digital technology innovation, improve the efficiency of online and offline omni-channel operations, shorten the product delivery cycle, and reduce supply chain operating costs.
3. The company's overseas business income increased by 10.08% over the previous year. In 2023, Yili will optimize the production capacity of overseas bases, actively develop overseas markets, and further expand overseas business.
In addition, in the report, Yili highlighted that "the company continues to lead the development of the industry in breast milk research and application of research results".
Including the launch of the first HMO-containing milk powder, the first accurate determination of the amino acid composition of Chinese breast milk, etc.
Operating data for the first quarter of 2024
According to the financial report for the first quarter of 2024 and the operating data for the first quarter released by Yili, Yili's total revenue in the first quarter was 32.463 billion, a year-on-year contraction of 2.6%, a net profit of 5.923 billion, a year-on-year increase of 63.84%, and a non-net profit of 3.728 billion, a year-on-year increase of 7.97%. Among them, the revenue of milk powder and milk products business was 7.427 billion.
In the annual report, Yili said: "According to the development of the industry, in 2024, the company plans to achieve a total operating income of 130 billion yuan and a total profit of 14.7 billion yuan. ”