Vinda Announces 2020Q3 Quarterly Results
Operating profit grew significantly by 80.5% to HK$1,802 million for the first nine months
(22 October 2020 – Hong Kong)Vinda International Holdings Limited (stock code: 3331) announced today its unaudited results for the nine months ended 30 September 2020 (“9M2020”) and the three months ended 30 September 2020 (“2020Q3”).
9M2020 Results Highlights:
• Revenue up by 0.4¹ to HK$11,464 million, of which HK$9,366 million was from the Tissue segment and HK$2,098 million was from the Personal Care segment.
• Gross profit rose by 27.3% to HK$4,354 million with a corresponding gross margin of 38.0%, increased by 8.8ppts.
• Operating profit grew significantly by 80.5% to HK$1,802 million with a corresponding operating margin of 15.7%, increased by 7.2ppts.
• EBITDA increased by 45.1% to HK$2,647 million with a corresponding EBITDA margin rose by 7.5ppts to 23.1%.
2020Q3 Results Highlights:
• Revenue decreased by 0.7%¹ to HK$3,830 million, of which HK$3,124 million was from the Tissue segment and HK$706 million was from the Personal Care segment.
• Gross profit rose by 17.6% to HK$1,414 million. Gross margin increased by 5.6ppts to 36.9%.
• Operating profit grew by 48.1% to HK$545 million. Operating margin up 4.6ppts to 14.2%.
• EBITDA increased by 28.5% to HK$829 million with a corresponding EBITDA margin increased by 4.9 ppts to 21.7%.
Ms. Karen Li, Chief Executive Officer said, “The outbreak of the pandemic led to the increasing uncertainties in the business environment. Driven by the optimized portfolio mix and the low pulp price, the Group continuously delivered margin improvement despite the challenging operating landscape in the first nine months of this year. Looking ahead, the Group will continue to drive business development via ongoing product enhancement, effective investment in advertising and promotional activities and persistent building of business capabilities.”
¹Year on year growth at a constant exchange rate
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