LI&FUNG LTD 2012 REPORT Confidential
2011Annual Results
2010 2011 Change t o Shareholders
%of Sales
C ash Earnings*
%of Sales 3.4%
680
4.3%
3.4%
850
4.2%
-
+25%
-
2010* 2011 Change (US Cents)
EPS Interim Dividend Final Dividend Total Dividend 7.17¢
2.44¢
3.33¢
5.77¢
2010*
8.43¢
2.44¢
4.36¢
6.79¢
2011
+18%
No change
+31%
+18%
Change
(HK Cents)
EPS Interim Dividend Final Dividend Total Dividend 56.0¢
19.0¢
26.0¢
45.0¢
65.8¢
19.0¢
34.0¢
53.0¢
+18%
No change
+31%
+18%
Core Operating Profit
G ain on Disposal of Properties
G ain on Disposal of Businesses/Subsidiaries
Amortization of Intangible Assets from Acquisitions N on-cash Interest
N et Cash Interest Expenses
P rofessional Fee for Acquisitions
S hare of Profits less Losses of Associated Companies T ax
M inority Interest
Total Non-operating Income(Expenses)
Profit Attributable to Shareholders
%of Sales
Cash Earnings* 2010
725
-
-
(28)
(19)
(66)
(18)
2
(48)
-
(177)
548
3.4%
680
2011
882
14
51
(52)
(22)
(87)
(15)
1
(91)
-
(201)
681
3.4%
850
Change
+22%
-
-
+88%
+12%
+33%
-18%
-
+91%
-
-
+24%
-
+25%
Trading Of fices: 63 Global Network
T rading Of fice Logistics Of fice DC Distribution Of fices
Logistics Of fices: 32 DCs: 155
Distribution Of fices: 56
7
Global Network
63 126 48 237 63
187
56
306
Same
61
8
69
Trading Offices
Logistics Offices&DCs
Distribution Offices
Over 300 offices and DCs in more than 40 economies with 29,000 employees and a sourcing network of over 15,000 suppliers
9
% of Sales Operating Costs
Core Operating Pro fit
% of Sales
(US$m)
Turnover *
Total Margin • 2011 was a milestone year for
Trading in our 105 years.
Trading Network had a great year
• Core sourcing business
gaining market share with
improvement in margin
2010
13,742
1,177
2011
15,881
1,410
Change
+16%
+20%
8.6%
8.9% (745)
432 (845)
565
+14%
+31%
3.1% 3.6% TRADING
* Turnover included intra-company sales of US$2,602m for 2011 (2010: US$1,815m), grew 43% and accounted for 11% of total sales
• Solid start to the Logistics Networks first year 2011
446 176 Change
+510%
+542%
37.4% 39.3% +398%
(32)
(5)
(163)
13
2.9% LOGISTICS
• Recorded solid pro fit for 2011
2010 #
73 27
• LF USA distribution business margin negatively impacted by higher costs but we see 2011 6,305
1,488 Change
+61%
+44%
26.4%
23.6% (736)
298
(1,184)
304 +61%
+2%
7.6%
4.8%
2010 # 3,912
1,034 DISTRIBUTION
•
pressure easing.
On a proforma basis, LF Asia’s pro fit grew 16% based on 2010 proforma annualized numbers
