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Earnings Call Summary | MINISO(MNSO.US) Q1 2024 Earnings Conference

moomoo AI ·  May 14 20:20  · Conference Call

The following is a summary of the MINISO Group Holding Limited (MNSO) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • MINISO Group's Q1 2024 revenue increased by 26%, reaching RMB 3.72 billion due to increased store count and same-store sales.

  • Gross margin was at 43.4% and adjusted net profit at RMB 620 million, marking a YoY increase of 28%.

  • The firm's Q1 operating profit was at RMB 743 million, a 29% YoY increase, and adjusted EBITDA reported at RMB 965 million, up by 37% YoY.

  • Cash position remained healthy at RMB 7.3 billion and RMB 3.5 billion was returned to shareholders since the US IPO.

Business Progress:

  • MINISO aims to globalize its brand more in over 100 markets and is increasing investment in Europe and North America.

  • Company plans include opening 900-1100 stores in 2024, and raising the store opening targets for their TOP TOY business.

  • IP products made up 26% of total sales in Q1.

  • The company expects profits to lean more towards the second half of FY2024, continuing from FY2023 trends.

  • MINISO aims to improve its market presence in the US with an annual target of 80-100 store openings.

More details: MINISO IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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