资源描述
1 Alibaba Group Announces June Quarter 2019 Results Hangzhou, China, August 15, 2019 Alibaba Group Holding Limited (NYSE: BABA) today announced its financial results for the quarter ended June 30, 2019. “Alibaba had a great quarter, expanding our user base to 674 million annual active consumers, demonstrating our superior user experience,” said Daniel Zhang, Chief Executive Officer of Alibaba Group. “We will continue to expand our customer base, increase operating efficiency and deliver robust growth. With strong cash flow from our core commerce business, we will continue to invest in technology and bring digital transformation to millions of businesses globally.” “We had a strong quarter to start our fiscal year, with revenue growing 42% and adjusted EBITDA growing 34% year-over-year,” said Maggie Wu, Chief Financial Officer of Alibaba Group. “We are pleased to see sustained user engagement and consumer spending across our platforms. We continue to invest for long- term growth while at the same time gaining cost efficiencies in our investment areas.” BUSINESS HIGHLIGHTS In the quarter ended June 30, 2019: Revenue was RMB114,924 million (US$16,741 million), an increase of 42% year-over-year. Annual active consumers on our China retail marketplaces reached 674 million, an increase of 20 million from the 12-month period ended March 31, 2019. Mobile MAUs on our China retail marketplaces reached 755 million in June 2019, an increase of 34 million over March 2019. Income from operations was RMB24,375 million (US$3,551 million), an increase of 204% year- over-year. The increase would have been 27% excluding share-based compensation expense resulting from Ant Financials awards to our employees. This expense was significantly higher in the quarter ended June 30, 2018 because during the quarter Ant Financial completed an equity financing at a higher valuation, which required us to recognize the increase in value of these awards. Adjusted EBITDA increased 34% year-over-year to RMB39,238 million (US$5,716 million). Adjusted EBITA for core commerce was RMB41,025 million (US$5,976 million), an increase of 25% year-over-year. Our marketplace-based core commerce adjusted EBITA, a non-GAAP measurement, increased 27% year-over-year to RMB46,800 million (US$6,817 million). Net income attributable to ordinary shareholders was RMB21,252 million (US$3,096 million), and net income was RMB19,122 million (US$2,785 million). Non-GAAP net income was RMB30,949 million (US$4,508 million), an increase of 54% year-over-year. Diluted earnings per ADS was RMB8.06 (US$1.17) and non-GAAP diluted earnings per ADS was RMB12.55 (US$1.83), an increase of 56% year-over-year. 2 Net cash provided by operating activities was RMB34,612 million (US$5,042 million) and non- GAAP free cash flow was RMB26,361 million (US$3,840 million). BUSINESS AND STRATEGIC UPDATES Core Commerce In June 2019, our China retail marketplaces had 755 million mobile MAUs, representing a quarterly net increase of 34 million. Annual active consumers on our China retail marketplaces was 674 million for the 12 months ended June 30, 2019, compared to 654 million for the 12 months ended March 31, 2019. Taobao fast-growing consumer community, adding users and strengthening engagement in less developed areas. The increase in annual active consumers reflects strong user acquisition programs, such as referrals through the Alipay app and another record-breaking 6.18 Mid-Year Shopping Festival, which deepened our penetration into less developed areas. During the quarter, over 70% of the increase in annual active consumers was from less developed areas, demonstrating the success of our initiatives to cater to a broader base of users, such as using simpler interfaces for first-time or less-frequent users. Tmall the leading consumer engagement and distribution platform for brands in China. Tmall continues to gain wallet share and grow faster than the sector average. Physical goods GMV, excluding unpaid orders, grew 34% year-over-year in the quarter ended June 30, 2019. The growth in physical goods GMV was driven by both increases in the number of users and average spend, reflecting strength in fast- moving consumer goods (FMCG), apparel, consumer electronics and home furnishing categories. In June 2019, our China retail marketplaces achieved our largest ever 6.18 Mid-Year Shopping Festival in scale and reach. During the promotional period from June 1 to June 18, Tmall physical goods GMV, excluding unpaid orders, was up 38% year-over-year. The successful promotional event saw robust consumption demand that supported solid sales and greater penetration into less developed areas for brands and merchants, as over 120 brands each generated more than RMB100 million in GMV. New Retail digital transformation of brick-and-mortar retailing. Through digitizing all aspects of store-based retail operations using our solutions such as consumer insight technology, on-demand delivery, inventory tracking, supply chain management and mobile payment, we enable traditional retailers to deliver an unrivaled consumer experience and improve their operating efficiencies. Our self-owned-and-operated grocery retail chain Freshippo (known as “Hema” in Chinese) continues to achieve robust same-store sales growth, expand its footprint, optimize its stores and introduce new initiatives to improve the customer experience. As of June 30, 2019, there were 150 self-operated Freshippo stores in China in 17 cities. Local consumer services Food delivery business enjoys improving operating efficiency and robust GMV growth. During the quarter, we achieved strong growth in daily on-demand GMV driven by robust order growth and increasing average order size. We will continue to focus on delivering value to restaurants and other local service merchants through digitization enabled by our technology, as well as extending the coverage of our products and services to less developed areas. Cainiao Network robust international and cross-border fulfillment and last-mile solutions. Cainiao Network has developed robust import fulfilment solutions for Tmall Global utilizing a combination of bonded warehouses in China and direct shipment from foreign countries. In June 2019, Cainiao Networks import fulfilment solutions served over 97% of Tmall Globals packages. During the 6.18 Mid-Year Shopping Festival, Cainiaos bonded warehouse facilitated the shipment of tens of millions of packages imported by Tmall Global, representing year-over-year growth of over 60%. 3 Cainiao Network continued to focus on providing consumers with comprehensive last-mile solutions, including neighborhood and campus pick-up stations and self-pickup lockers. Consumers also benefit from Cainiaos Guoguo app, which offers on-demand pick-up and delivery services that allow consumers to send packages from the comfort of their homes, thereby facilitating returns. International Strong order growth in Southeast Asia. Lazada showed solid operational improvement after strengthening its third-party marketplace business, management team and technology infrastructure. For the third consecutive quarter, Lazada achieved over 100% year-over-year order growth, reflecting our operational focus on user loyalty and purchase frequency. Lazada continues to focus on maintaining strong user growth and user engagement. During the quarter, Lazada executed effective user acquisition programs with mobile DAUs doubling year-over-year. Cloud Computing Cloud computing revenue grew 66% year-over-year to RMB7,787 million (US$1,134 million) during the June 2019 quarter, primarily driven by an increase in average revenue per customer. During the June 2019 quarter, Alibaba Cloud launched over 300 new products and features, including those related to core cloud offerings, security, data intelligence and AI applications. We are focusing on delivering high value-added services while rationalizing our offerings of commodity products and services. We will continue to execute a strategy of expanding our market leadership, increasing investments in talent and technology infrastructure and developing new value-added products and features. We are focusing on expanding SaaS offerings by working with SaaS partners to build an ecosystem to better serve our enterprise customers. During the June 2019 quarter, we announced the Alibaba Cloud SaaS Accelerator, a solution that helps SaaS partners to build, launch and commercialize their offerings at scale within the Alibaba Cloud SaaS marketplace. Alibaba Cloud offers these partners proprietary technologies such as AI applications, data analytics and software and development operations tools in order for them to deploy solutions for enterprise customers in various industries. The SaaS Accelerator enables seamless integration of SaaS offerings of different vendors on the Alibaba Cloud platform. Digital Media and Entertainment Digital media and entertainment segment revenue for the June quarter grew 6% year-over-year as the industry undergoes rationalization and tighter regulatory scrutiny on content. Youku continued to focus on delivering a superior user experience and driving increased paying subscribers. During the quarter, Youkus average daily subscribers increased 40% year-over-year. While we continue to invest in original content production capabilities, which gives us better control over content quality, format and scheduling, we are also taking systematic analytical measures to ensure content cost efficiencies and return on investment. These measures have been reflected in reduced losses year-over-year during the quarter. Cash Flow from Operating Activities and Free Cash Flow In the quarter ended June 30, 2019, net cash provided by operating activities was RMB34,612 million (US$5,042 million), a decrease of 4% compared to RMB36,117 million in the same quarter of 2018, which was mainly due to a decrease in annual payment of royalty fees and software technology service fees from Ant Financial and payment of a US$250 million cash settlement of a U.S. federal class action lawsuit that we agreed last quarter. Free cash flow, a non-GAAP measurement of liquidity, in the quarter ended June 30, 2019 was RMB26,361 million (US$3,840 million) compared to RMB26,358 million in the same quarter of 2018, which, in addition 4 to the factors affecting net cash provided by operating activities, also reflected a RMB2,359 million decrease in spending to acquire licensed copyrights and other intangible assets. A reconciliation of net cash provided by operating activities to free cash flow is included at the end of this results announcement. New Share Repurchase Program In May 2019, our board of directors authorized to refresh our share repurchase program for an amount of up to US$6.0 billion over a period of two years. Altaba Inc. Sales of our ADSs As publicly disclosed by Altaba, since commencing sales on May 20, 2019, Altaba has disposed 261 million of our ADSs. As of August 9, 2019, the latest date of publicly available information, Altaba held approximately 22 million of our ADSs. 5 KEY OPERATIONAL METRICS* June 30, 2018 March 31, 2019 June 30, 2019 Net adds YoY QoQ China Commerce Retail: Annual active consumers (1)(in millions) 576 654 674 98 20 Mobile monthly active users (MAUs) (2)(in millions) 634 721 755 121 34 * For definitions of terms used but not defined in this results announcement, please refer to our annual report on Form 20-F for the fiscal year ended March 31, 2019. (1) For the twelve months ended on the respective dates. (2) For the month ended on the respective dates. JUNE QUARTER SUMMARY FINANCIAL RESULTS Three months ended June 30, 2018 2019 RMB RMB US$ (1)YoY % Change (in millions, except percentages and per share amounts) Revenue 80,920 114,924 16,741 42% Income from operations 8,020 24,375 3,551 204% (3)Operating margin 10% 21% Adjusted EBITDA (2) 29,359 39,238 5,716 34% Adjusted EBITDA margin (2)36% 34% Adjusted EBITA (2) 26,502 34,556 5,034 30% Adjusted EBITA margin (2)33% 30% Net income 7,650 19,122 2,785 150% (3)Net income attributable to ordinary shareholders 8,685 21,252 3,096 145%(3)Non-GAAP net income (2)20,101 30,949 4,508 54% Diluted earnings per share (4)0.41 1.01 0.15 146% (3)Diluted earnings per ADS (4)3.30 8.06 1.17 144% (3)Non-GAAP diluted earnings per share (2)(4)1.01 1.57 0.23 55% Non-GAAP diluted earnings per ADS (2)(4)8.04 12.55 1.83 56% (1) This results announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) for the convenience of the reader. Unless otherwise stated, all translations of RMB into US$ were made at RMB6.8650 to US$1.00, the exchange rate on June 28, 2019 as set forth in the H.10 statistical release of the Federal Reserve Board. The percentages stated in this announcement are calculated based on the RMB amounts and there may be minor differences due to rounding. (2) See the sections entitled “Information about Segments,” “Non-GAAP Financial Measures” and “Reconciliations of Non- GAAP Measures to the Nearest Comparable GAAP Measures” for more information about the non-GAAP measures referred to within this results announcement. (3) The year-over-year increase of income from operations, net income, net income attributable to ordinary shareholders, diluted earnings per share and diluted earnings per ADS would have been 27%, 2%, 7%, 6% and 7%, respectively excluding share- based compensation expense resulting from Ant Financials awards to our employees. This expense was significantly higher in the quarter ended June 30, 2018 because during the quarter Ant Financial completed an equity financing at a higher valuation, which required us to recognize the increase in value of these awards. (4) Each ADS represents eight ordinary shares. See the section entitled “Share Subdivision and ADS Ratio Change“ for more information. 6 JUNE QUARTER INFORMATION BY SEGMENTS The table below sets forth selected financial information of our operating segments for the periods indicated: Three months ended June 30, 2019 Core commerce Cloud computing Digital media and entertainment Innovation initiatives and others Unallocated (1)Consolidated RMB RMB RMB RMB RMB RMB US$ (in millions, except percentages) Revenue 99,544 7,787 6,312 1,281 114,924 16,741 Income (loss) from operations 35,049 (1,509) (3,159) (3,000) (3,006) 24,375 3,551 Add: Share-based compensation expense 3,310 1,147 596 1,015 1,047 7,115 1,036 Add: Amortization of intangible assets 2,666 4 330 20 46 3,066 447 Adjusted EBITA 41,025(2)(358) (2,233) (1,965) (1,913) 34,556 5,034 Adjusted EBITA margin 41%(5)% (35)% (153)% 30% Three months ended June 30, 2018 Core commerce Cloud computing Digital media and
展开阅读全文