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Nissin Foods Announces 2021 Q3 Financial Results

HONG KONG, Nov 5, 2021 - (ACN Newswire) - Nissin Foods Company Limited ("Nissin Foods", and together with its subsidiaries, the "Group"; Stock code: 1475) has today announced its financial results for the nine months ended 30 September 2021 ("the Reporting Period").

Revenue of the Group increased by 6.4% to HK$2,858.6 million, from HK$2,685.6 million for the corresponding period in 2020. Gross profit increased by 0.4% year-on-year ("YoY") to HK$899.4 million (2020: HK$895.9 million). Gross profit margin stood at 31.5% (2020: 33.4%), which was mainly impacted by the surge in the price of key raw materials and the decrease in revenue from the Hong Kong operations. Profit attributable to owners of the Company was HK$231.4 million (2020: HK$264.0 million).

Revenue generated from the PRC operations increased by 12.9% YoY to HK$1,822.1 million from HK$1,614.3 million, attributable to the rise in sales of cup-type instant noodles. With respect to the Hong Kong operations, revenue decreased by 3.2% YoY to HK$1,036.5 million because of the absence of a demand upsurge as experienced last year due to the pandemic, especially in bag-type instant noodles and frozen food.

Mr. Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "The Group maintains healthy financial metrics with stable contribution from PRC and Hong Kong operations during the Reporting Period. We consider the pursuit of quality a strategic move towards the Group's sustainable growth and success. As part of our product optimisation initiatives, a major product revamp has been made to Cup Noodles this year in celebration of its 50th anniversary. We have successfully realised robust sales in the PRC by pushing forward product optimisation initiatives and taking steps to promote our Cup Noodles brand. At Nissin Foods, we are constantly enhancing our product portfolio and improving our production efficiency. We believe that such efforts will allow us to further understand and satisfy the changing needs of consumers and that of the other stakeholders of the Group."

For details, please refer to the announcement:
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/1105/2021110500297.pdf

About Nissin Foods Company Limited
Nissin Foods Company Limited (The "Group"; Stock code: 1475) is a renowned food company in Hong Kong and the PRC with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the PRC market, the Group has introduced technology innovation through the "ECO Cup" concept into the market and primarily focuses its sales efforts in first-and second-tier cities in the PRC.

Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. For more information, please visit www.nissingroup.com.hk.




Source: Nissin Foods Company Limited

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