HONG KONG, March 31, 2023 /PRNewswire/ — 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 financial results for the fiscal year ended December 31, 2022.
“I am pleased with all we accomplished in 2022 while navigating a challenging global macro environment,” said Wang Xuning, Chairman and Chief Executive Officer of JS Global. “We continued to grow market share in both existing and new categories across the key markets in which we operate. Major product launches in 2022 have already seen incredible success, as they were a key factor in driving a strong finish to the year and are now providing us with significant momentum in 2023. JS Global is highly differentiated by the strength of our brands and our high quality, rapid product innovation that consistently delivers extraordinary value to our consumers globally. We look forward to 2023 as we remain focused on our strategy to deliver sustainable, long-term growth by driving increased sales of our existing products as well as combining powerful technology with appealing designs to develop innovative new products.”
Fiscal Year 2022 Financial Results and Commentary
Revenue was US$5,041.2 million for the fiscal year, a decrease of 2.1% compared to the prior year period. On a constant currency basis, revenue increased by 0.7%.
Profit was US$357.5 million for the fiscal year, a decrease of 22.4% versus the prior year period.
Adjusted Net Profit was US$425.6 million for the fiscal year, a decrease of 15.3% versus the prior year period.
Profit Attributed to Owners of the Parent was US$332.3 million for the fiscal year, a decrease of 21.0% versus the prior year period.
Adjusted Net Profit Attributed to Owners of the Parent was US$393.8 million for the fiscal year, a decrease of 15.1% versus the prior year period.
EBITDA was US$624.5 million for the fiscal year, a decrease of 12.2% versus the prior year period.
Adjusted EBITDA was US$673.0 million for the fiscal year, a decrease of 8.2% versus the prior year period.
Recent Business Highlights
JS Global’s revenue has grown by 67.1 % compared to 2019 led by the continued success and expansion of the Shark and Ninja brands, as well as gross profit growth of 66.9% compared to 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 32.0% to 34.6%1, cooking appliances declined from 27.4% to 26.2%2, and food preparation appliances grew from 33.4% to 36.1%3 in the U.S.
Balance Sheet and Cash Flow Highlights
As of December 31, 2022, cash and cash equivalents were US$504.1 million, outstanding debt (total borrowings) was US$857.1 million, and gearing ratio (calculated as the total debt (including interest- bearing bank borrowings and lease liabilities) divided by total equity) was 45.6%.
Capital expenditures were US$165.3 million for the fiscal year, compared to US$ 149.6 million in the prior year period.
JS Global had 3,447,463,000 fully diluted shares outstanding as of December 31, 2022.
Conference Call and Live Streaming Details
April 3, 2023 at 7:30 a.m. ET / April 3, 2023 at 7:30 p.m. HKT: JS Global management will host an annual results presentation live stream. Investors can watch the live stream by registering on the following website: https://www.jsgl.com/en/investor/register.html. After registration, investors will receive the link to watch live stream via the registered email.
Annual results announcement: https://www.jsgl.com/en/investor/notice.html
The presentation and the Q&A section will be in both English and Mandarin and will also be archived and available for replay.
You can ask questions in the “question area” of the page or by dialing in using the information below.
Investors can also dial-in to listen the audio of the live stream and to ask questions:
United States dial-in: 1-516-226 8028/1800 3876 988
Mainland China dial-in: 4008070263/ 023-62737100
Hong Kong dial-in: 852-3018 3602/800 931018
Singapore dial-in: 65-6407 5649/65-6622 0840
United Kingdom dial-in: 44-20-3761 0113/0800 0291098
English Passcode: 898958701#
Mandarin Passcode: 032514758#
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-December 2022 vs. January–December 2021. “Cleaning appliances” include Bare Floor Cleaners, Upright Vacuums, Stick Vacuums, Robotic Vacuums, and Hand Vacuums
2. The NPD Group/Retail Tracking Service, U.S. dollar sales, January-December 2022 vs. January–December 2021. “Cooking appliances” include Air Fryers, Fryers, Electric Grills, Other Electric Grills/Griddles, Multi-Cookers, and Toaster Ovens
3. The NPD Group/Retail Tracking Service, U.S. dollar sales, January-December 2022 vs. January–December 2021. “Food preparation appliances” include Juice Extractors, Traditional Blending, Kitchen System, Single Serve Blending & Processing, and Traditional Food Processors
4. Global Small Home Appliance Industry Independent Market Research, Frost & Sullivan, March 2023
About JS Global
JS Global Lifestyle Company Limited (Stock code: 1691.HK) is a world-leading producer of small household appliances. It ranks fifth globally in the small home appliance industry and third among small home 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 appliances. 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
Mars Chen, Investor Relations Manager, JS Global Lifestyle
mars.chen@jsgl.com
Arvind Bhatia, VP of Investor Relations at SharkNinja
ABhatia@sharkninja.com
Investor Relations
ir@jsgl.com
View original content:https://www.prnewswire.com/news-releases/js-global-reports-fiscal-year-2022-financial-results-301787143.html
SOURCE JS Global Lifestyle
Related Quotes
Everyone invests with the goal of generating big returns but it’s easy to get distracted by all the short-term noise generated on Wall Street. The key to investing success, according to Raymond James CIO Larry Adam, is to follow a few simple rules. One is to realize past performance does not necessarily guarantee future success. “History has shown that no single asset class has been a consistent winner year after year,” says Adam, “just as no single asset class remains at the bottom.” Secondly,
SmartAsset compares three of the largest investment companies based on usability, trade experience, offerings and cost. Learn more here.
Oil prices surged on Monday after Saudi Arabia and other OPEC+ oil producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in U.S. price data had boosted market optimism. The change comes before a virtual meeting of an OPEC+ ministerial panel, which includes Saudi Arabia and Russia, and which had been expected to stick to 2 million bpd of cuts already in place until the end of 2023. The latest reductions could lift oil prices by $10 per barrel, the head of investment firm Pickering Energy Partners said on Sunday.
Tesla deliveries hit a new record but missed views again, How will TSLA stock react after breaking out Friday? China EV rivals also reported deliveries.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
Bank stocks have been beaten down so much this year that they're now starting to look attractive.
When Credit Suisse opened its first office in Saudi Arabia in early 2021, Bruno Daher, the cigar-smoking head of Credit Suisse’s Middle East business, declared it a “key growth market”.
Bob Michele, the chief investment officer of JPMorgan Asset Management, has warned of an economic downturn, saying that markets are headed for a rally before an inevitable slowdown. In an interview with Bloomberg on Friday, Michele says risk assets will rise in the next quarter as they did during the Great Recession. "In the next quarter, we could see risk assets rally. You could have a feel-good period, and then the reality catches up," Michele said. "If we've been taught anything this month, y
Tesla on Sunday reported first quarter delivery and production numbers that topped estimates, indicating price cuts it initiated across the globe are boosting demand.
Insiders at Peapack-Gladstone and Bankwell Financial scooped up shares in March as the banking sector tanked after SVB’s collapse.
Crude futures were surging Sunday evening after OPEC and its allies announced a surprise production cut.
Before she started cash stuffing, Jasmine Taylor said she was tired of being in financial distress. She turned that success into 'Baddies and Budgets'
Treasuries aren't the only refuge in a slowdown. Dividend names also "can provide a margin of safety," says UBS.
Many people dream of owning a chunk of land and putting their dream house on it. Maybe you fantasize about pulling out all the stops and designing a home with every feature you've ever wanted. Well, to make that dream, … Continue reading → The post How to Buy Land and Build Your Dream House appeared first on SmartAsset Blog.
Oil prices jumped about $5 a barrel on Monday's open, jolted by a surprise announcement by OPEC+ to cut production further in an effort to support market stability. The Organization of the Petroleum Exporting Countries and their allies including Russia, shook markets by announcing production cuts of about 1.16 million barrels per day on Sunday. The group known as OPEC+ had been expected to maintain its earlier decision to cut output by 2 million bpd until December at its monthly meeting on Monday.
The sum of $10 million might sound like a lot – and to the average person, it is. But what if you want to retire at just 30 years old and potentially live another 40, 50 or even 60 years … Continue reading → The post Is $10 million Enough to Retire at 30? appeared first on SmartAsset Blog.
Tesla deliveries hit a record in Q1, but fell short of views yet again. Tesla stock is up 68% in 2023, breaking out into a buy zone Friday.
Gone are the days of a sub-3% mortgage, commonplace during the housing market boom of the COVID-19 pandemic. Mortgage rates have steadily increased since the Federal Reserve started hiking interest rates in March 2022 to combat inflation. As a result, … Continue reading → The post Best Housing Markets for Growth and Stability – 2023 Edition appeared first on SmartAsset Blog.
March deliveries from the three Chinese EV makers fell within the companies' guided ranges. Combined deliveries were up month over month and year over year.
Have some extra cash you want to invest? Brokerages are rewarding new clients.
