【6862 Results】Haidilao International Net Profit Drops 14% to RMB 4.05 Billion, Final Dividend Reduced 24% to HK 38.4 cents, Per Capita Consumption Up Marginally 0.2% to RMB 97.7

Haidi Lao International (06862)
Last year, net profit fell 14% to 4.05 billion yuan (RMB), mainly due to a decrease in table turnover rate and adjustments in product and scene innovation models. Haidi Lao paid a final dividend of 38.4 HK cents, with an annual dividend of 72.2 HK cents. Core operating profit decreased by 13.3% to 5.4 billion yuan.

Takeout Business Revenue Increased by 111.9%

Last year, Haidi Lao’s revenue increased by 1.1% to 43.23 billion yuan, while restaurant operating income decreased by 4.4% to 39.03 billion yuan. Takeout business revenue grew by 111.9% to 2.66 billion yuan, mainly due to the rapid growth of the “rice with dishes” business.

Haidi Lao Restaurant System Sales Decreased by 3.7% Last Year.
Self-operated Haidi Lao restaurants had an average table turnover rate of 3.9 times/day, expected to be 4.1 times/day in 2024. The average customer spend at self-operated Haidi Lao restaurants increased by 0.2% year-on-year to 97.7 yuan.

Self-operated Haidi Lao Restaurants Reduced to 1,304

Last year, raw materials and consumables costs increased by 8.1% to 175.3 million yuan, accounting for 40.5% of revenue, up 2.6 percentage points.

As of the end of last year, Haidi Lao brand operated a total of 1,383 restaurants; among them, self-operated Haidi Lao restaurants decreased by 51 year-on-year to 1,304; franchise restaurants increased significantly by 66 to 79. As of the end of last year, besides the Haidi Lao brand, the group operated 20 other food and beverage brands with a total of 207 restaurants.

Source: HKEX Announcement

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