Haier Smart Home Co., Ltd.

  • WKN: A2JM2W
  • ISIN: CNE1000031C1
  • Land: China

Nachricht vom 30.04.2019 | 16:05

Qingdao Haier Co.,Ltd.: Financial year 2018 - Revenue up 12.2% to RMB 183 billion

DGAP-News: Qingdao Haier Co.,Ltd. / Key word(s): Annual Results

30.04.2019 / 16:05
The issuer is solely responsible for the content of this announcement.

Financial year 2018: Revenue up 12.2% to RMB 183 billion

- Revenue increase exceeding 10% in last five consecutive quarters

- Net profit attributable to owners of the parent company increased by 7.7% to RMB 7.4 billion

Qingdao / Shanghai / Frankfurt, 30 April 2019 - Qingdao Haier Co., Ltd. (600690.SS; 690D.DE, "Qingdao Haier" or "the Company") on 29 April 2019 released its results for FY18 as well as for 1Q19. In 2018, the Company recorded revenue of RMB 183.3 billion, representing an increase of 12.2% compared with the financial year 2017. Net profit attributable to owners of the parent company increased by 7.7% to RMB 7.4 billion. In the first quarter of 2019, revenue increased by 10.2%. Despite headwind in the industry the company's revenue kept an average growth of 10% in the last 5 consecutive quarters.

In the past financial year 2018, the company focused on strengthening its leadership in providing smart home solutions, delivering substantial growth through continued efforts in product innovation, retail transformation and global brand building. At the same time, the company built an open ecosystem around the Internet of Things (IoT), providing users with better life solutions, cultivating ecological income, and consolidating its status as the leading ecological brand of smart homes.

Technological capabilities support continued market share expansion

In the domestic market, according to the statistics of China Market Monitor, the retail market shares of Haier products increased unanimously. Haier refrigerators and washing machines continued to maintain the industry's first position, with respective market shares of 3.1 times and 1.9 times that of the second place competitors. The strong market position was supported by Haier's leading technological capabilities. The Company continued to roll out original technology with its proprietary R&D system on a global scale.

Domestic market: Deepened retail transformation and enhanced high-end advantages to achieve growth against headwind

With the disappearance of the demographic dividend, China's inelastic demand home appliances consumption is entering a period of saturation, which also makes China's home appliance industry fully under pressure in 2018, and the growth "sees the top." In 2018, the retail sales of China's home appliance market totaled RMB 832.7 billion, a yoy increase of 1.5%, and the growth rate was only one-seventh of that in 2017.

To achieve sustainable growth despite headwinds of an increasingly saturated home appliances market, Qingdao Haier continued building its capability in providing smart home solutions with multiple units purchases, increasing the quantity and quality of its network as wells as deepening retail transformation. The Company further enhanced the leading high-end advantages of Casarte and continuously developed its young brand Leader.

In 2018, the performance of Casarte in the high-end market still outshone competition with revenue growth of 44%. Furthermore, nearly occupying half of the market, Casarte has definitely established a leading position in the high-end market. According to the statistics of China Market Monitor, the market share of Casarte products with the price level over RMB 10,000 each increased by 7.7 percentage points to 42.7%.

Overseas market: Leadership of independent brand innovation and comprehensive growth

In 2018, with the goal of localized brand innovation and leadership, Qingdao Haier promoted the synergy of its global operation system and deepened the "three-in-one" global layout of localized R&D, localized production and localized marketing. The growth of major regions exceeded that of the industry, and all white goods divisions have achieved double-digit growth.

While the overall North American market was marked by weak demand and stale growth in the past financial year, Qingdao Haier division GEA continued to promote the implementation of the "Individual and Goal Combination model" and business transformation in 2018, and recorded USD revenue growth of 13%, making it the fastest growing appliances company in the market.

To further expand its business in the European market, Qingdao Haier was successfully listed on the Frankfurt Stock Exchange in Germany and it acquired Italy's well-known home appliance brand Candy, both in 2018. The revenue of Qingdao Haier in the European market increased by 25% in 2018, benefitting from its established structures and successful experience in terms of overseas brand operations. Qingdao Haier implemented the idea of operating localization from product, brand, production, talent to marketing. With the transfer of the management model of "Individual and Goal Combination" to its overseas brands the Company excelled against industry headwinds.

Industry-leading positioning in smart home solutions

In 2018, the Company's revenue of smart home appliance increased by 79.8% with the number of smart home users growing by 15.6%. Revenue of whole house solution packages increased by 128%. The IoT ecosystem reached RMB 2.8 billion revenue, representing an increase of 1,622%.

The Company has achieved comprehensive leadership in smart home solutions. Haier's full-scene solutions can be personalized around clothing, food, housing, entertainment of users through space, plan and scenario to realize whole sets of customized and smart one-stop solution. Meanwhile, Haier smart home has covered more than 200 main scenarios, more than 10,000 customized scenarios, and over 4,000 product models in T1, T2 and T3 markets.

COSMOPlat: Created leading advantages in customized mass production

In 2018, COSMOPlat Industrial Internet Platform connected 26 million devices, was used to build thousands of industrial apps and models and was applied by over 10,000 developers. It digitalized and productized users interaction, R&D innovation, procurement synergy, smart manufacturing, smart logistic, precise marketing and smart service, providing comprehensive solutions to clients from 15 industries.

A successful case is COSMOPlat Building Ceramics & Smart RV Sub-Platforms where efficiency has been improved and cost kept low; by promoting the participation of all stakeholders in the entire customized process, product development time has been shorted and 71% of products are now shipped directly to distributors and users without going into the warehouse.

About Qingdao Haier:
Haier is one of the world's leading manufacturers of household appliances with a focus on smart home solutions and customized mass production. Qingdao Haier develops, produces and distributes a wide range of household appliances. These include refrigerators, freezers, washing machines, air conditioners, water heaters, kitchen appliances as well as smaller household appliances and an extensive range of intelligent household appliances. The company distributes its products through leading household brands such as Haier, Casarte, Leader, Candy, GE Appliances, AQUA and Fisher & Paykel. Qingdao Haier has developed three platforms - the cloud-based platform U+ Smart Life, which offers customers integrated smart home solutions, the smart manufacturing platform COSMOPlat, which enables customized mass production, and the online platform Shunguang, which facilitates the integration of Qingdao Haier's online, offline and micro-store businesses and supports user interaction to further optimize the user experience.​

IR contact:
Yao Sun (Sophie) - Qingdao Haier Germany
T: +49 6172 9454 143
F: +49 6172 9454 42143
M: +49 160 9469 3601
Email: y.sun@haier.de

30.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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