JS Global Reports Interim Financial Results for the Six Months Ended June 30, 2022
PR97589
HONG KONG, Aug. 29, 2022 /PRNewswire=KYODO JBN/ --
-Revenue Increased on a Constant Currency Basis as a Result of Successful
Management Through Dynamic Operating Environment
-Successfully Grew Market Share in Every Major Category in Which SharkNinja
Operates in the U.S.
JS Global Lifestyle Company Limited (Stock code: 1691.HK) ("JS Global" or the
"Company"), a world-leading producer of small household appliances that
operates three major brands: Shark, Ninja and Joyoung, today reported its
interim financial results for the six months ended June 30, 2022.
"I am pleased to report that we maintained our level of revenue while
navigating challenging macroeconomic conditions and after seeing tremendous
growth in 2021 and 2020," said Wang Xuning, Chairman and Chief Executive
Officer of JS Global. "Despite global headwinds, we were able to grow market
share in every major category in which SharkNinja operates in the U.S. The
successful launch of new categories in the second half of 2021 also contributed
meaningfully to our revenue during the first half of 2022. Innovation is at the
core of who we are at JS Global. I am thrilled at what is to come as we remain
focused on our long-term objectives while adhering closely to our proven
strategy."
2022 Interim Financial Results and Commentary
-Revenue was US$2,232.2 million for the six months ended June 30, 2022, flat
compared to the same period in the prior year. On a constant currency basis,
revenue increased by 0.8%.
-SharkNinja's revenue was US$1,593.2 million for the six months ended June 30,
2022, flat compared to the same period in the prior year. On a constant
currency basis, revenue increased by 1.2%.
-Joyoung's revenue was US$639.0 million for the six months ended June 30, 2022,
a slight decrease of 0.6% versus the same period in the prior year. On a
constant currency basis, revenue decreased by 0.3%.
-Profit was US$180.9 million for the six months ended June 30, 2022, a decrease
of US$36.7 million, or 16.9% versus the same period in the prior year.
-EBITDA was US$302.2 million for the six months ended June 30, 2022, a decrease
of US$34.0 million, or 10.1% versus the same period in the prior year.
-Adjusted EBITDA was US$318.4 million for the six months ended June 30, 2022, a
decrease of US$32.1 million, or 9.2% versus the same period in the prior year.
-Adjusted net profit attributed to owners of the parent was US$188.9 million
for the six months ended June 30, 2022, a decrease of US$26.1 million, or 12.1%
versus the same period in the prior year.
-Basic EPS attributable to ordinary equity holders to the parent was US$0.048
for the six months ended June 30, 2022, a decrease of US$0.009, or 15.9 versus
the same period in the prior year.
-Diluted EPS attributable to ordinary equity holders to the parent was US$0.048
for the six months ended June 30, 2022, a decrease of US$0.009, or 15.8% versus
the same period in the prior year.
Recent Business Highlights
-JS Global's revenue has grown by 80.6% compared to the first half of 2019 led
by the continued success and expansion of the Shark and Ninja brands, as well
as gross profit growth of 86.6% compared to the first half of 2019.
-Shark brand remains the #1 vacuum brand in the U.S., while Ninja brand
continues to be the #1 brand in small kitchen appliances in the U.S.. Our
market share within cleaning appliances grew from 30.8% to 34.4%[1], cooking
appliances from 25.2% to 25.4%[2], and food preparation appliances from 32.5%
to 35.2%[3] in the U.S..
Balance Sheet and Cash Flow Highlights
-As of June 30, 2022, cash and cash equivalents were US$550.9 million,
outstanding debt (total borrowings) was US$975.2 million, and gearing ratio
(calculated as the total debt (including interest- bearing bank borrowings and
lease liabilities) divided by total equity) was 54.5%.
-Capital expenditures were US$69.4 million for the six months ended June 30,
2022 compared to US$53.9 million in the same period in the prior year.
-JS Global had 3,408,381,000 fully diluted shares outstanding as of June 30,
2022.
Conference Call and Webcast Information
-The video presentation and accompanying slide presentation have been posted to
the Events section of JS Global's Investor Relations website at
https://www.jsgl.com/en/investor/register.html.
-Interim results announcement: https://www.jsgl.com/en/investor/notice.html
-August 29, 2022 at 9:40 p.m. ET / August 30, 2022, at 9:40 a.m. HKT: JS Global
management will host a live Q&A audio webcast which will be posted to the
Events section of JS Global's Investor Relations website at
https://www.jsgl.com/en/investor/register.html. Those who would like to ask a
question during the live call can dial-in using the information below.
-The video presentation and the live Q&A will be in both English and Mandarin
and will also be archived and available for replay.
-You can watch the video presentation via webcast on August 29, 2022 at 9:00
p.m. ET / August 30, 2022, at 9:00 a.m. HKT at
https://www.jsgl.com/en/investor/register.html; please refresh the page on
August 29, 2022 at 9:40 p.m. ET / August 30, 2022, at 9:40 a.m. HKT before
entering the Q&A session. You can ask questions in the "question area" of the
page or by dialing in using the information below.
Those interested in asking a question during the live Q&A audio webcast can
dial in:
-United States dial-in: 1 866 213 0992/1 866 226 1406
-Mainland China dial-in: 4008 428 338/4006 786 766
-Hong Kong dial-in: +852 2112 1888
-Singapore dial-in: 800 492 2081
-United Kingdom dial-in: 0800 032 2849
-English Passcode: 8323130#
-Mandarin Passcode: 8027130#
After joining the conference call, participants can press *1 to raise hand to
ask a question. Both English and Mandarin questions will be accepted.
Source:
1. The NPD Group/Retail Tracking Service, U.S. dollar sales, January-June 2022
vs. January–June 2021. "Cleaning appliances" include: Bare Floor Cleaners, Hand
Vacuums, Robotic Vacuums, Stick Vacuums, Upright Vacuums
2. The NPD Group/Retail Tracking Service, U.S. dollar sales, January-June 2022
vs. January–June 2021. "Cooking appliances" include: Air Fryers, Electric
Grills, Fryers, Multi-Cookers, Toaster Oven
3. The NPD Group/Retail Tracking Service, U.S. dollar sales, January-June 2022
vs. January–June 2021. "Food preparation appliances" include: Juice Extractor,
Kitchen System, Single Serve Blending & Processing, Traditional Blending,
Traditional Food Processor
4. Global Small Home Appliance Industry Independent Market Research, Frost &
Sullivan, March 2022
About JS Global
JS Global Lifestyle Company Limited (Stock code: 1691.HK) is a world leading
producer of small household appliances. It ranks fourth globally in the small
household appliance industry and third among small household appliance-focused
companies.[4] It primarily operates three major brands: Shark, Ninja and
Joyoung. The Company's success is centered around its deep understanding of
consumer needs, and is built on its strong product innovation and design
capability powered by a global research and development platform, marketing
strengths driving high brand engagement, and an omni-channel distribution
coverage with high penetration.
About SharkNinja
SharkNinja is an innovation leader in the housewares industry and creator of
the familiar household brands Shark® and Ninja®. SharkNinja provides the latest
in easy-to-use innovative technology with a growing line of solutions that
consist of Shark cleaning and home care products and Ninja kitchen appliances.
Products are sold at major retailers and through distributors around the world.
Ninja and Shark are registered trademarks of SharkNinja Operating LLC.
SharkNinja is a subsidiary of JS Global Lifestyle Company Limited (Stock code:
1691.HK) a leader in small household appliance innovation.
About Joyoung
Joyoung (Stock code: 002242.SZ) is SharkNinja's sister brand and has become a
well-known small household electrical appliance enterprise and one of the
market share leaders in China. Joyoung invented the first soymilk maker in
China and closely connect the concept to plant-based solutions. With 28 years
of experience and over 10,000 patented technologies, Joyoung specializes in the
research and development, design, manufacturing, and sale of its innovative
product categories including small household appliances, primarily focusing on
kitchen. Joyoung is a subsidiary of JS Global Lifestyle Company Limited (Stock
code: 1691.HK) a leader in small household appliance innovation.
Media
Edmond Lococo, Managing Director, ICR Inc.
JSGlobalPR@icrinc.com
Company Contacts
Venus Zhao, Head of Investor Relations, Public Relations and Compliance, JS
Global Lifestyle
Venus.Zhao@jsgl.com
Adam Quigley, VP of Finance at SharkNinja
AQuigley@sharkninja.com
Investor Relations
ir@jsgl.com
SOURCE JS Global Lifestyle Company Limited
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