Osim Dec14

Topics: Balance sheet, Corporate finance, Generally Accepted Accounting Principles Pages: 24 (4631 words) Published: April 16, 2015
OSIM INTERNATIONAL LTD
(Incorporated in the Republic of Singapore) (Registration No.: 198304191N)

ANNOUNCEMENT OF UNAUDITED RESULTS
FOR THE QUARTER ENDED 31 DECEMBER 2014

HIGHLIGHTS:
($ million)

Q4 14

Q4 13

Growth

12M 14

12M 13

Growth

Sales

177.7

178.7

-1%

691.1

647.6

+7%

Operating EBITDA

38.9

39.3

-1%

151.2

140.2

+8%

Profit before tax

34.0

33.6

+1%

132.3

129.2

+2%

Profit after tax

27.4

27.6

-1%

102.2

101.6

+1%

3.5 cts

3.8 cts

13.4 cts

14.0 cts

2 cts

6 cts

6 cts

Basic earnings per share
Interim dividend per share

2 cts

• Fundamentals remain positive
• 12M Sales $691 million +7%
• 12M PBT $132 million +2%
• Final dividend of 2 cents per share
• Cash & Cash Equivalents and Fixed Income Investments as at 31 December 2014 were $462 million (net $276 million)

1

REVIEW OF PERFORMANCE OF THE GROUP
COMMENTARY ON CURRENT YEAR PROSPECTS
Our fundamentals remain positive as OSIM is the dominant brand in healthy lifestyle products in our 5 key countries. Despite a challenging year, we managed to attain 8% growth in operating EBITDA and 1% earnings growth.

We are not resting, we are

continuing to invest for future growth supported by a strong balance sheet. We are pleased to achieve record sales of $691 million and record profit before tax of $132 million for the year.
We have 561 OSIM outlets. China continues to be our No.1 market where we are in 45 cities with 254 outlets. New products like uInfinity Luxe, uDiva, uHip, uSqueez Air and uShape Music will help us to sustain our dominant position in the market and we will be introducing more innovative products this year.

Our GNC outlets are doing well. We have a total of 238 GNC/RichLife outlets in ONI Global and we are growing our sales through new products.
TWG Tea has 43 outlets. In Q4, we opened 6 new outlets. We are targeting to open 15 to 20 new outlets this year and are creating new lines of luxury tea. The directors are pleased to recommend a final dividend of 2 cents per share bringing it to a total of 6 cents per share for 2014.

2

Financial Statements
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(Amounts in Singapore dollars)

Note
Revenue
Other income
Changes in inventories of trading goods
Trading goods purchased
Employee benefits expense
Depreciation and amortisation expenses
Other operating expenses
Impairment losses on quoted and unquoted equity shares
Interest expenses
Interest income
Share of results of associates
Profit before taxation
Taxation
Profit for the period

D

Other comprehensive income:
Items that may be reclassified subsequently to profit or loss Gain on fair value changes of available-for-sale financial asset Remeasurement of defined benefit obligation
Foreign currency translation:
Net effect of exchange difference during the year
Reclassification of translation loss to profit or loss
Other comprehensive income for the period, net of tax
Total comprehensive income for the period
Profit attributable to:
Equity holders of the Company
Non-controlling interests

Total comprehensive income attributable to:
Equity holders of the Company
Non-controlling interests

Earnings per share (cents)
- Basic
- Diluted

F
F

3

Group
3 months ended 31 Dec
2014
2013
$'000
$'000

Group
12 months ended 31 Dec
2014
2013
$'000
$'000

177,658
3,536
(6,795)
(47,344)
(28,799)
(5,433)
(58,656)
(654)
(1,219)
1,758
(55)

178,566
46,459
3,089
(53,768)
(30,832)
(4,772)
(103,790)
(433)
(1,576)
1,484
(809)

691,130
14,147
(864)
(203,973)
(121,998)
(21,796)
(226,202)
(654)
(3,459)
4,997
977

647,616
56,761
18,702
(211,254)
(110,560)
(13,742)
(259,983)
(863)
(5,787)
5,344
2,919

33,997
(6,320)
27,677

33,618
(6,483)
27,135

132,305
(30,100)
102,205

129,153
(27,558)
101,595

(406)

341
(1,270)...
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