Haier Smart Home Driven by Outstanding Premium and Overseas Performance with Strong Revenue and Profit Increase in 9M 2021
DGAP-News: Haier Smart Home Co.,Ltd.
/ Key word(s): 9 Month figures/Quarterly / Interim Statement
Haier Smart Home Driven by Outstanding Premium and Overseas Performance with Strong Revenue and Profit Increase in 9M 2021 - Group Revenue and Profit increased by 20.4% and 60.2% respectively in 9M 2021 - Cash Flow from operating activities more than doubled compared to 9M 2020 - Expense Ratio improved by 1.7 pp in 9M 2021
Adjusted for the divestment of COSMOPlat in 2020, revenue and net profit attributable to owners of the parent company increased by 9.2% and 14.6% respectively in Q3 2021 compared with the same period of the previous year. Improvement of expense ratio by 1.7 pp Haier Smart Home's overall expense ratio improved in the nine-month period by 1.7 pp over the same period of last year, with the sales expense ratio and the administrative expense ratio (adjusted for the divestment of COSMOPlat in 2020) decreasing by 1.1 pp and 0.6 pp respectively. Casarte's growth rate at 57.0% - Air-conditioning market share at record high At the same time, Haier Smart Home's high-end air-conditioning business continued to rank first with its market share of 25.0% in Q3 2021, hitting a new high. In the nine-month period 2021, Haier's overall revenue growth rate of air-conditioning reached 20.0%, while the revenue growth rate of Casarte's high-end air-conditioning increased to 68.6%. Haier's air conditioner market share has been growing for the past five consecutive years. In the kitchen appliance business, Haier Smart Home also achieved rapid growth by targeted investments in high-end markets and its transformation into a scenario ecosystem brand. Haier's kitchen appliance business revenue increased by 31.0% in the nine-month period 2021. The corresponding revenues increase from Casarte high-end kitchen appliances by 123.0% offers further growth potential. With the introduction of new products, revenue from washer-dryers grew by more than 260.0% in the nine-month period. Continued double-digit growth overseas with an increase in operating profit margin of 1.7 pp Based on market potential of around USD 24.6 billion estimated by Euromonitor, overseas markets will continue to be an important growth area for Haier Smart Home's sustainable development. Haier Smart Home is giving full play to the power of the whole industry, in order to provide users with high-quality customized smart home services. Haier Smart Home's growth momentum remains strong. This is inseparable from its long-term investment and firm implementation of high-end, smart, and global strategies. IR Contact: Contact Press:
29.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Haier Smart Home Co.,Ltd. |
Haier Industrial Park, Laoshan District | |
266101 Qingdao | |
China | |
Phone: | +49 6172 9454 143 |
Fax: | +49 6172 9454 42143 |
E-mail: | ir@haier.hk |
Internet: | smart-home.haier.com |
ISIN: | CNE1000031C1, CNE000000CG9 (A-share), |
WKN: | A2JM2W |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1244904 |
End of News | DGAP News Service |
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1244904 29.10.2021