EQS-News: Haier Smart Home publishes figures for full year 2022: strong growth against industry trend. Revenue grows by 7.2%

Haier Smart Home publishes figures for full year 2022: strong growth against industry trend. Revenue grows by 7.2%

• Revenue of RMB 243.514 billion in 2022 (previous year: RMB 227.106 billion)
• Net profit attributable to the owners of the parent company amounted to RMB 14.711 billion
• Growth in profit exceeded that of revenue

Qingdao / Shanghai / Hong Kong / Frankfurt, 30 March 2023 - Haier Smart Home Co., Ltd. ("Haier Smart Home" or "the Company", D-share 690D.DE, A-share 00690.SH, H-share 06690.HK), today published its annual report for the year 2022. Due to the Company´s success in brand building strategies and the effective digital transformation domestic and overseas businesses reported strong growth against the sluggish trend of the home appliance industry. The Company achieved a year-on-year growth in revenue of 7.2%. Net profit attributable to the owners of the parent company amounted to RMB 14.711 billion, which corresponds to an increase of 12.5% compared to the previous year. Net profit attributable to the owners of the parent company after non-recurring items amounted to RMB 13.963 billion.

Company’s overseas business grew by 10.3% in the reporting year
The overseas home appliance market faced challenges such as high inflation and slowing global consumer demand in 2022. Haier Smart Home accelerated the localization of its supply chain setup in overseas markets, and fully leveraged its global collaborative advantages to effectively respond to these challenges. The company’s overseas business increased by 10.3% year-on-year in 2022. In the American market, the Company’s revenue increased by 9.0% (revenue in local currency increased by 4.6%), under the background that the industry’s major home appliance shipment growth was -6%. In the European market, the Company recorded revenue growth of 16.7% while the industry’s sale volume growth was -8.9%.

Continuous growth of domestic market share. Casarte brand continues to rank No.1
Haier´s smart home business in China achieved revenue of RMB 126.379 billion, representing an increase of 4.6% over 2021. The market share of refrigerators, washing machines, and water heaters of Haier Smart Home continued to grow. Based on the data of China Market Monitor for offline sales, the share of retail sales of refrigerators of Haier brands increased by 2.5 percentage points to 43.9%. The share of retail sales of washing machine products of Haier brands increased by 1.8 percentage points year-on-year to 46%; the share of retail sales of water heaters of Haier brands increased by 1.3 percentage points year-on-year to 29.8%.

Meanwhile, Casarte, Haier´s premium brand, has maintained its top position in the market share for high-end products. The whole market share of Casarte was 12.3%, representing an increase of 1.4 percentage points compared with 2021, among which, Casarte washing machines and refrigerators accounted respectively for 77.2% and 38.5% in the Chinese market of products priced over RMB 10,000, and air conditioners accounted for 30.6% in the Chinese market of products priced over RMB 15,000. Moreover, revenue of clothing dryers grew by over 80%.

Enhancing user value through 5 core capabilities of Three-Winged Bird
Three-Winged Bird, the exclusive scenario brand of Haier Smart Home, has continuously iterated the so-called “1+3+5+N" smart home solutions. It enhanced user value based on its 5 core capabilities including Smart Home Brain capability, scenario solution capability, store operation capability, 1+N delivery capability, and digital tools capability. During 2022, more than 900 stores of Three-Winged Bird were opened, and the retail sales of the Three-Winged Bird stores increased by 257% year-on-year.

Ongoing enhancement from digital transformation with further optimized expense rates
In 2022, Haier Smart Home accelerated its digital transformation and achieved a further optimization of the Company’s expense ratios. Haier Smart Home’s sales expense ratio was 15.9% in 2022, corresponding to a year-on-year reduction of 0.3 percentage points, while the administrative expense ratio was reduced by 0.2 percentage points at 4.5%. The continuous optimization of Haier Smart Home’s expense rates is the result of the Company’s deep digital transformation in various areas such as procurement, lean manufacturing, marketing, and R&D. Looking at digital procurement as an example, the Company has established an optimized inventory model for streamlining the number of components, improving the level of the common usage of component parts and their supply quality. In 2022, the number of material parts in use was reduced by 17.5%, and the level of the common usage of component parts was improved by 12%.

The strong growth of Haier Smart Home against the industry trend in the financial year 2022 has demonstrated its strong operating resilience and growth. Haier´s overseas market share in developed countries is expected to grow further in the future. With the continuous deepening of digital transformation, Haier Smart Home’s profitability continued to improve by increasing its resource efficiency and hence, creating room for new expansion in a more sustainable way.

The annual report 2022 as at 30 March 2023 is available online at https://smart-home.haier.com/en/.

IR Contact:
Haier Smart Home Hong Kong
T: +852 2169 0000
Email: [email protected]

Press Contact:
CROSS ALLIANCE communication GmbH
Sara Pinto
Sven Pauly
[email protected]
T: +49 (0) 89 1250903 35

About Haier Smart Home Co., Ltd.:
Haier is one of the world’s leading manufacturers of household appliances with a focus on smart home solutions and customized production. Haier Smart Home Co., Ltd. develops, produces and distributes a wide range of household appliances. These include refrigerators, freezers, washing machines, air conditioners, water heaters, kitchen appliances as well as small household appliances and an extensive range of intelligent household appliances. The Company distributes its products through leading household brands such as Haier, Casarte, Leader, Candy, GE Appliances, AQUA and Fisher & Paykel. Haier Smart Home Co., Ltd. has launched Smart Home Experiential Cloud, which connects homes, users, enterprises and ecosystem partners, and facilitates the integration of Haier’s online, offline and micro-store businesses and supports user interaction to further optimize the user experience.