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Sep 30, 2024
MINISO Q3 2024 Earnings Report
MINISO posted record Q3 FY2024 revenue and gross margin, driven by strong overseas growth and higher profitability across key segments.
Key Takeaways
Q3 FY2024 revenue rose to $644.5 million, up 19.3% YoY. Net income reached $92.4 million, while adjusted EPS was $0.31. Gross margin hit a record 44.9%, driven by product mix and overseas expansion.
Revenue grew 19.3% YoY to $644.5 million in Q3 FY2024.
Gross margin reached a record 44.9%, up 3.1 pts YoY.
Net income totaled $92.4 million; adjusted net income was $97.8 million.
MINISO added 859 new stores YTD, approaching its full-year target.
MINISO
MINISO
MINISO Revenue by Segment
MINISO Revenue by Geographic Location
Revenue by Segment
MINISO Brand Revenue
CapyFin.comTOP TOY Brand Revenue
CapyFin.comRevenue by Geographic Location
Mainland China Revenue
CapyFin.comOverseas Revenue
CapyFin.com Forward Guidance
MINISO expects steady revenue and margin improvement, supported by international expansion and IP-driven product strategy.
Positive Outlook
- Strong revenue growth from overseas directly operated stores
- Record gross margin of 44.9%
- Expanding store network, nearing full-year target
- TOP TOY brand showing robust growth
- Efficient capital allocation with healthy cash position
Challenges Ahead
- Lower adjusted net margin compared to last year
- Increased logistics and operating expenses
- Foreign exchange losses affecting net profit
- Higher general and admin expenses from expansion
- Reduced interest income due to lower rates and deposits
Revenue & Expenses
Visualization of income flow from segment revenue to net income