Performanceanalysis Q2_ver 12.08.11

Performanceanalysis Q2_ver 12.08.11 tài liệu, giáo án, bài giảng , luận văn, luận án, đồ án, bài tập lớn về tất cả các l...

At a glance / Highlights

AT A GLANCE

Key figures – 2 nd quarter 2011

VND bil Q2, 2011 Q2, 2010

% total sales

Incr./Decr Q2, 2011 Q2, 2010

Financial

Financial

Current ratio 3.63 4.07

1

SG&A: Selling expenses, General and administration expenses

0 50,000 100,000 150,000 200,000 250,000

Total Revenues by quarter

2010 2011

0 10,000 20,000 30,000 40,000 50,000 60,000 70,000

Operating results by

quarter

2010 2011

HIGHLIGHTS – 2nd QUARTER 2011

• Total revenues increase 86.7% to VND 176.2 bil

• Profit-after-tax jumps 119.7% to VND36.2 bil

• Free cash flow totaled VND80.4 bil

Everpia Vietnam JSC (HSX: EVE) Continued impressive business growth and strong performance For Q 2 /2011, EVE has achieved VND176.3bil in net revenue (+ 86.7% yoy 1 )and VND36.2bil in net profit after tax (+119.7% yoy) These results were exceeding the sales plan by 37.1% and profit plan by 55.9%

SECOND QUARTER 2011

™ TOTAL SALES GROWTH

Quarter

on fiscal year (VND bil.)

Bedding sales

% total revenue

Q 2

Rev growth

Padding sales

% total revenue

Q 2

Rev growth Value Growth

Q2 2010 36.4 38.6% -20.9% 58 61.4% 71.2% 94.4 17.8%

Q2 2011 77.7 44.1% 113.5% 98.5 55.9% 69.8% 176.3 86.7%

EVE completed Q2/2011 in high note with VND 176.2bil in sales, increasing 86.7% from

VND94.6bil the same period of previous year Significant sales growth is recorded across all key segments supported by:

(i) Significant growth of bedding related to the adjustment in pricing policies in Mar and the increase in orders from customers Bedding sales accounting for 44.1% of total sales, increased 113.5% compared to Q2/2010 and exceeded the plan by 43.8%;

(ii) Notable growth of padding thanks to the increase of padding price and strong orders from new and existing customers Thus, sales of padding increased from VND58bil in

Q2/2010 to VND98.5bil in Q2/2011, exceeded the plan by 32.2%

™ OPERATING RESULTS

Despite the stiff price increase of fibers and fabrics by over 30% in 1st half 2011, the gross

profit margin was kept stable at around 38% qoq in Q2/2011 thanks to the effective pricing policies of EVE and B.O.D’s decision to import raw material in advance

Although SG&A expenses went up by 48.7% yoy due to aggressive marketing activities, expansion of the retail networks and upgrade of current shops, net profit increased at a

higher rate than sales growth and the gross margin The second-quarter net

profit-after-tax rose 119.6%

As the result, the current and quick ratios show EVE’s good capability to meet its short-term

obligation The current ratio, although in slight decline compared to Q2/2011 was still high,

at 3.63 times as of the end of Q2/2011 The quick ratio, increased from 1.36 in Q2/2010 to 1.45 in Q2/2011

1

qoq: quarter-on-quarter

™ FINANCIAL STRUCTURE

During Q2/2011, EVE borrowed VND71.4 bil from bank to finance its working capital

Long-al structure of the company is very sound with leverage

at only 0.3 times

VND80.4 bil although in reduction compared with January 2011 due to seasonal working capital needs Additionally, to expand production EVE has invested an

term financial debt is nil, the financi

In addition, EVE has a strong cash cushion as cash and cash equivalents at the end of

Q2 2011 reached

amount of VND25bil to purchase land for the new Hung Yen factory

™ EVE SHARES

The performance of EVE shares vs Consumer Goods sector and VN-Index

VNINDEX EVE

CONSUMER GOODS EVE

Source: Golden Bridge Investment Consultant JSC

™ GROWTH PERSPECTIVE

m JSC already fulfilled 47% of its annual revenue target and 57% of its NPAT target Entering the bedding season (last six months) which

tnam has decided to increase the 2011 plan EVE now believes that full-year revenue for the Group will increase by 41.1% compared with 2010

During 1st half 2011, Everpia Vietna

commonly accounts for 65%of total sales of a year, EVE expects total revenue in the last 6 months to achieve VND 463 bil

Thus, the Board of Everpia Vie

(instead of 26.8%) to VND800 bil., net profit after tax is revised to VND160bil., 56.4% increase from 2010 NPAT

Unit: VND bil Q 1 / Plan Q 1 / Actual Q 2 / Plan Q 2 / Actual Q 3 / Pl an Q 4 / Plan

™ COMING EVENT

r, EVE will list additional bonus shares issued to shareholders from

25 May, 2011 and complete the procedure for listing of 410,000 shares under the

under construction, is scheduled to start operations early next year The total estimated investment is VND61.8bil

For more information, please contact:

Ms Phan Mai Linh

Tel: 04.3 8 Email: info@everpia

- In the third quarte

th

Employee Stock Option Program (ESOP)

- The new factory in Hung Yen, which is

Planning Team Manager

27 6490 (ext: 347)

.vn / mailinh@everpia.vn