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Jun 30, 2023
MINISO Q4 2023 Earnings Report
MINISO delivered strong Q4 2023 results with record revenue and profitability gains.
Key Takeaways
MINISO achieved significant year-over-year and sequential growth in revenue, net income, and operating profit in Q4 2023. Revenue rose by over 40% to $448.5 million, driven by strong performance both in China and overseas. Gross and EBITDA margins also expanded notably, and adjusted net income more than doubled.
Q4 revenue grew 40.3% YoY to $448.5 million.
Net income rose 162.4% YoY to $75.4 million.
Adjusted EBITDA margin expanded to 26.3%.
Strong performance in both China and overseas markets, with overseas contributing over 34% of total revenue.
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 continued year-over-year sales growth in the September quarter, with ongoing margin optimization and strong store-level performance.
Positive Outlook
- Sales expected to grow YoY in September quarter.
- Improved store-level performance projected.
- Continued margin optimization anticipated.
- New store openings in first- and second-tier Chinese cities.
- High profitability in U.S. operations driving overseas margin gains.
Challenges Ahead
- Macroeconomic uncertainties may impact spending.
- Continued pressure from IP licensing and promotion expenses.
- Global economic cycles could affect discretionary demand.
- Currency fluctuations may influence USD results.
- Costs associated with global expansion remain a factor.
Revenue & Expenses
Visualization of income flow from segment revenue to net income