Yum is China -S: Total revenue in the second quarter of 2022 decreased 13%year-on-year to US $ 2.13 billion

On July 29, 2022, the Hong Kong stock listed company Yum! China -S (09987.HK) announced the financial performance announcement in the second quarter of 2022.

In the second quarter of 2022, the company's total revenue was 2.13 billion US dollars, a decrease of 13%from US $ 2.45 billion in the same period last year; system sales decreased by 16%compared with the same period last year, of which KFC and Pizza Hut fell by 15%and 14%, respectively. The impact of conversion is the main reason for the decline in the decline in the same store sales and the impact of the temporary suspension of stores; the sales of the same store decreased by 16%compared with the same period last year, of which KFC and Pizza Hut fell by 16%and 15%, regardless of the impact of foreign currency conversion.

The company's net profit was US $ 83 million, a decrease of 54%compared with the US $ 181 million in the same period last year, mainly due to the decline in operating profit, and some of them were offset by the company's net income of Meituan's equity investment at a market value.

The adjustment of net profit was US $ 84 million, a decrease of 55%(or decreased by 62%in the same period last year. And net income of $ 5 million).

During the period, the profit margin of the restaurant was 12.1%, and the profit margin of the restaurant in the same period last year was 15.8%. The main reason for the main change was that the sales of the same store declined, the raw materials, wages and electricity costs increased. Increased productivity and the landlord and temporary subsidy offset.

The diluted profit per share was $ 0.20, a decrease of 52%from $ 0.42 in the same period last year.

In the second quarter of 2022, the company opened 246 stores, and 53 new stores were added, which was mainly promoted by the development of KFC and Pizza Hut. In addition, the company transformed 121 stores in the second quarter of 2022.

Regarding the performance outlook of 2022, the target of the 2022 fiscal year disclosed on February 8, 2022 was unchanged: Jingxin increased by about 1,000 to 1,200 stores; capital expenditure was between about 8 to 1 billion US dollars.

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