- The Result meets the company's RMB 100 billion target for FY2021 with the company also delivering a strong start to FY2022 in the first quarter
- Despite ongoing issues related to COVID-19, the company continues to post strong increases in revenue and profit
HOHHOT, China, April 30, 2022 /PRNewswire/ -- Global dairy giant Yili Group has become Asia's first dairy producer to post annual revenue exceeding RMB 100 billion, consolidating the company's dominance in the region.
Total revenue for the company in 2021 was RMB 110.595 billion, up 14.15% year on year, and more than RMB 13.7 billion compared to the previous year. Net profit jumped 23% year on year to reach RMB 8.732 billion.
First-quarter results for 2022 revealed the overall revenue for Yili Group was RMB 31.047 billion, an increase of 13.47% year on year. Net profit rose by 24.08% year on year to reach RMB 3.508 billion.
Pan Gang, Chairman and President of Yili Group, noted that Yili will work at full capacity to ensure a sufficient supply of dairy products under the ongoing epidemic. The company will keep working with partners to meet customers' health needs, as well as to create value for employees, investors and society.
Core products continue to top the market
Yili's core products maintained strong momentum in 2021 due to the company's investment in product innovation, product portfolio optimization and channel expansion.
Its major liquid milk business generated revenue of RMB 84.911 billion, up 11.54% year on year, and continues to top the dairy market. Yili Pure Milk, Satine Pure Milk and the AMBPOMIAL Yoghurt Series set record annual sales of RMB 20 billion. Satine Organic Series continued to rank first in the organic milk segment in 2021. The ice cream sector generated RMB 7.161 billion for Yili in revenue, up 16.28% year on year.
New growth drivers emerge with the milk powder business leading the run
In FY2021, the company's milk powder and related businesses generated RMB 16.209 billion in revenue, an increase of 25.80% year on year, showing strong growth momentum. In the high-potential cheese sector, Yili's cheese business grew by more than 150% year on year.
Company R&D expenditure grew 23.39% to RMB 601 million, a figure significantly higher than the industry average.
Yili continues strategic expansion throughout the industrial chain
In March 2022, Yili completed the formal acquisition of Ausnutria Dairy. The company founded a cheese company in response to rapid growth in the industry. Yili's main products have now entered markets across five continents and more than 60 countries and regions, with revenue from its overseas business growing by 8% year on year. Strong examples of the company's overseas achievements include its ice cream production base in Indonesia and the upgrading of the Westland factories.