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Jun 30, 2024
MINISO Q2 2024 Earnings Report
MINISO reported strong revenue and profit growth in Q2 FY2024, supported by expansion in overseas markets and record gross margins.
Key Takeaways
Revenue rose to $555.3 million in Q2 FY2024, with gross margin hitting a record 43.9%. Net income reached $81.4 million and adjusted EPS came in at $0.28, driven by growth across both domestic and international markets.
Revenue grew 24.1% YoY to $555.3 million in Q2 FY2024
Record gross margin of 43.9%, up from 39.8% YoY
Adjusted net income reached $86 million, with adjusted EPS of $0.28
Strong overseas growth contributed 35.5% of total revenue
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
MINISO maintains its full-year 2024 revenue and adjusted net profit targets, driven by global expansion and cost discipline.
Positive Outlook
- Record gross margin driven by improved product mix
- Strong performance in overseas markets with 35.5% revenue contribution
- Robust store expansion including 266 net new overseas stores
- Adjusted net income rose to $86 million
- Disciplined financial and capital allocation strategies
Challenges Ahead
- Adjusted EBITDA margin declined YoY
- Increase in selling and distribution expenses by over 70%
- Foreign exchange loss of $0.6 million impacted adjusted net margin
- General and administrative expenses rose 38.1% YoY
- Reduced interest income due to decreased bank deposits
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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