永豐餘消費品實業股份有限公司 (YFY Consumer Products Co., Ltd.) 2025年上半年營運績效 (2025 H1 Operating Performance)
Company Overview
永豐餘消費品實業股份有限公司 (YFY Consumer Products Co., Ltd.) is a company engaged in consumer products, primarily focusing on tissue paper and cleaning products.
Key Milestones & History
- 1968: Created its own brand 《五月花》 (Mayflower) tissue paper.
- 1972: Produced Taiwan's first embossed tissue paper.
- 1986: Established Yong Feng Yu Consumer Products Co., Ltd.
- 1995: Entered the Shanghai market.
- 2004: Acquired P&G's Qing Shui factory, adding two brands: 《柔情》 (Tender) and 《得意》 (Sense).
- 2009: Launched 《橘子工坊》 (Orange House) for natural cleaning products.
- 2021: Listed on the stock exchange with a capital increase to NT$2.67 billion.
- 2022: Expanded its product lines and invested NT$1.01 billion to build paper machines.
- 2023: Launched innovative cleaning products with advanced purification technology.
- 2024: Released sustainable products using eco-friendly packaging.
- 2025: Introduced new practical kitchen paper and dishwasher tablets.
Financial Highlights
Regional Revenue Mix (2020-2024)
- Taiwan:
- 2020: 62%
- 2021: 65%
- 2022: 67%
- 2023: 68%
- 2024: 71%
- Mainland China:
- 2020: 38%
- 2021: 35%
- 2022: 33%
- 2023: 32%
- 2024: 29%
Product Revenue Mix (2020-2024)
- Paper Products:
- 2020: 88%
- 2021: 87%
- 2022: 87%
- 2023: 89%
- 2024: 85%
- Cleaning Products + Others:
- 2020: 12%
- 2021: 13%
- 2022: 13%
- 2023: 11%
- 2024: 15%
Profitability (2020-2024)
- Gross Profit Margin:
- 2020: 31.9%
- 2021: 27.1%
- 2022: 21.8%
- 2023: 25.6%
- 2024: 22.8%
- Operating Profit Margin:
- 2020: 15.2%
- 2021: 12.5%
- 2022: 8.9%
- 2023: 11.0%
- 2024: 8.5%
Earnings Per Share (NT$)
- 2020: 6.12 (Includes one-time gain: 4.24)
- 2021: 2.55
- 2022: 2.55
- 2023: 3.62
- 2024: 2.78
Dividend Distribution Policy
- 2022: Cash Dividend Per Share: NT$2.3; Payout Ratio: 90.20%
- 2023: Cash Dividend Per Share: NT$3.0; Payout Ratio: 82.87%
- 2024: Cash Dividend Per Share: NT$2.55; Payout Ratio: 91.73%
Recent Performance and Results
2025 H1 Consolidated Financial Summary (NT$ Thousand)
| Metric | 2024 H1 (Amount) | 2025 H1 (Amount) | YoY Change (%) |
|---|---|---|---|
| Operating Revenue | 5,321,996 | 5,423,935 | 1.9% |
| Gross Profit | 1,287,610 | 1,313,891 | 2.0% |
| Operating Expenses | 751,211 | 846,746 | 12.7% |
| Operating Income | 536,399 | 467,145 | -12.9% |
| Non-operating Net | 10,968 | 28,049 | 155.7% |
| Profit Before Tax | 547,367 | 495,194 | -9.5% |
| Net Income After Tax | 438,776 | 393,383 | -10.3% |
| EPS | 1.64 | 1.47 | -0.17 |
Explanations for 2025 H1 Performance
- Revenue growth due to high-quality product innovations.
- Decrease in net income attributable to increased product investment expenses.
Quarterly Revenue and Profit Trends
Quarterly Consolidated Revenue:
| Quarter | Total Revenue | Taiwan | Mainland China |
|---|---|---|---|
| 2024Q2 | 2,720 | 1,896 | 824 |
| 2024Q3 | 2,833 | 2,016 | 817 |
| 2024Q4 | 2,742 | 1,919 | 823 |
| 2025Q1 | 2,695 | 1,981 | 714 |
| 2025Q2 | 2,729 | 2,039 | 690 |
Quarterly EPS
- 2024Q2: 0.71
- 2024Q3: 0.54
- 2024Q4: 0.60
- 2025Q1: 0.79
- 2025Q2: 0.68
Future Outlook and Guidance
- The company will continue to implement innovative strategies and optimize cost structures to drive profit growth.
Strategic Initiatives and Plans
Focus Areas
-
Focus on Core Categories:
- Target high-growth, high-margin products.
-
Expand Cleaning Products Market:
- Develop brands that align with green business opportunities.
-
Develop New Categories:
- Introduce pet products and expand personal care lines.
-
Enhance Production Supply Chain Competitiveness:
- Focus on production automation and strategic partnerships.
Channel Advantage
- Retail and e-commerce platform integration, leveraging strong market relationships.
ESG Commitment
- Strong focus on energy transition, employee welfare, and sustainable operations.
ESG Achievements/Certifications
- Participated in CDP Climate Change Questionnaire with a "B" management level.
- TIPS A-level certification in 2024.
Key Charts, Graphs, and Data Points
(All data points from sections 2 and 3 are key data points.)
Important Product Names, Terms, and Concepts
Product Names/Brands
- Tissue Paper: 《五月花》 (Mayflower), 《得意》 (Sense), etc.
- Cleaning Products: 《橘子工坊》 (Orange House), etc.
Key Terms & Concepts
- 營運績效 (Operating Performance)
- 獲利率 (Profitability), 毛利率 (Gross Profit Margin), 等等。
Products, Services & Technology
Products
- Cleaning Products:
- Various products under brands like 《橘子工坊》 (Orange House) focusing on eco-friendliness.
Technology & R&D Capabilities
- Emphasis on unique formula development and production automation.
Certifications
- Multiple certifications for sustainability and quality assurance.