安踏体育(02020.HK)中期纯利升27.7%至24.83亿元FILA贡献营收近45%
格隆汇8月26日丨安踏体育(02020.HK)公布,截至2019年6月30日止6个月,集团实现收益148.11亿元人民币(单位下同),同比增长40.3%;毛利83.02亿元,同比增长45.0%;经营溢利42.57亿元,同比增长58.4%;股东应占溢利24.83亿元,同比增长27.7%;每股基本盈利92.50分,宣派中期股息每股31港仙。
集团的收益主要来自核心分部安踏,其占整体收益的51.2%。安踏分部收益较2018年同期增长18.3%至75.90亿元(2018年:64.17亿元)。安踏分部收益增长主要归因于(i)因安踏品牌及其产品的市场认知度提升带动安踏品牌收益稳定增长;及(ii)安踏儿童收益显著增长。
FILA分部亦贡献集团整体收益的44.1%,分部收益较2018年同期增长79.9%至65.38亿元(2018年:36.35亿元)。FILA分部收益增长主要归因于(i)FILA品牌及其产品的市场认知度不断提升;(ii)零售业务的强劲表现以及实体店增加和店效提升;及(iii)电子商贸的发展。
于期内,集团的整体毛利率与2018年同期相比上升1.8个百分点至56.1%(2018年:54.3%)。整体毛利率上升主要由于FILA分部贡献增加,而其毛利率相对地较高。安踏分部毛利率与2018年同期相比减少1.6个百分点至42.5%(2018年:44.1%)。毛利率减少主要归因于(i)集团致力于安踏品牌的极致性价比,特别是在鞋类产品上提升产品科技和创新;及(ii)策略性给予分销商更多返利,以激励分销商升级安踏品牌九代店,优化分销网络布局及推行零售层面数码化。FILA分部毛利率为71.5%,维持于相对平稳的水平(2018年:71.7%)。
于期内,集团的整体经营溢利率较2018年同期相比上升3.2个百分点至28.7%(2018年:25.5%)。安踏分部和FILA分部均对整体经营溢利率提升有所贡献。经营溢利率有所增加,主要由于(i)零售业务的贡献增加,而一般其毛利率较批发业务为高;(ii)集团提前收到政府补助金;及(iii)经营开支比率(占收益百分比)相对稳定。
虽然经营溢利率上升3.2个百分点,期内股东应占溢利率下降1.6个百分点至16.8%,乃主要由于(i)利息支出增加及(ii)分占合营公司亏损。
平均存货周转日数上升4日,乃由于零售营运的贡献增加所致。平均应收贸易账款周转日数及平均应付贸易账款周转日数分别下降1日及上升2日。该等流转比率处于相对正常的水平。
于2019年6月30十日,集团的现金和现金等价物总额为81.99亿元(主要以人民币、港币及美元计价),即较2018年12月31日现金和现金等价物92.84亿元减少10.85亿元。
截至2019年6月30日,于中国大陆的安踏店(包括安踏儿童独立店)的数目共有10,223家(2018年底:10,057家)。于中国大陆、香港、澳门和新加坡的FILA店(包括FILAKIDS及FILAFUSION独立店)数目共有1,788家(2018年底:1,652家)。
此外,于中国大陆的DESCENTE店数目共有115家(2018年底:117家)。于中国大陆的KOLONSPORT店数目共有173家(2018年底:181家)。于中国大陆的SPRANDI店数目共有110家(2018年底:104家)。于中国大陆、香港、澳门和美国的KINGKOW店数目共有70家(2018年底:77家)。
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