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Retail Trade

Uni-President Enterprises Corp.

Company Background

Uni-President Enterprises is a Taiwanese food and beverage company with significant operations in Taiwan and China. It sells a wide range of products, including soft drinks, instant noodles and pastries. It also operates logistics services across Taiwan.

Uni-President owns the 7-Eleven convenience store franchise -- now an independently listed company on the Taiwan Stock Exchange -- in Shanghai and Taiwan. The company also operates the Starbucks franchise in Taiwan.

The company was founded by Wu Hsiu-chi and Kao Ching-yuen in 1967 in the southern Taiwanese City of Tainan. Wu was married to Kao's cousin. Before setting up Uni-President, Wu and Kao worked together in the textile businesses. Kao was widely considered a leader of the Tainan Group, an influential gathering of Tainan-based tycoons, as was Wu before his death in 2005.

Alex Lo, Uni-President's chairman and president, is Kao's son-in-law. He has an MBA from the University of California, Los Angeles.

Business Summary

Uni-President Enterprises Corp. engages in the manufacturing, processing, and sales of the food business. It operates through the following business segments: Food Group, Instant Food Group, Dairy & Beverage Group, General Food Group, Baking Business Group, Technology Group, and Others. The Food Group segment includes bulk food, livestock feed, aquatic feed, and flour department. The Instant Food Group segment includes oil and food department. The Dairy & Beverage Group segment includes comprehensive beverage, tea, water, dairy, coffee, agency brand department. The General Food Group segment includes meat, soy sauce & condiment, ice products, and international department. The Baking Business Group segment includes bread department, and baking business development team. The Technology Group segment engages in the development, production, distribution, and operation of dairy products, beverages, ice products, cold mixes, and meat OEM products. The Others segment engages in the pharmaceutical, leisure development, and logistics business. The company was founded by Chin Yen Kao on August 25, 1967 and is headquartered in Tainan, Taiwan.

Financial Highlights

Dec 2021 TWDUSD
Revenue473,501.66M16,952.02M
Gross Profit134,948.50M4,831.34M
Operating income28,379.13M1,016.01M
Income before tax32,311.27M1,156.78M
Net income19,879.06M711.69M
EBITDA61,233.79M2,192.25M
Diluted EPS3.470.12
Dividends Per Share2.700.09
Total Assets514,039.63M18,579.52M
Total liabilities333,045.88M12,037.65M
Total equity116,586.19M4,213.90M
Operating cash flow55,711.10M1,994.53M
Currency in TWDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 399,860.95M 431,445.52M 447,977.70M 447,319.97M 473,501.66M
Gross Profit 125,590.26M 137,314.73M 140,185.77M 133,292.81M 134,948.50M
Operating income 22,643.66M 27,278.35M 29,840.57M 29,783.89M 28,379.13M
Income before tax 71,232.63M 32,449.16M 33,293.77M 34,576.04M 32,311.27M
Net income 39,844.85M 17,442.02M 19,007.25M 21,542.40M 19,879.06M
EBITDA 40,962.72M 46,173.55M 61,534.55M 62,083.02M 61,233.79M
Diluted EPS 6.98 3.05 3.32 3.76 3.47
Dividends Per Share 5.50 2.50 2.50 2.70 2.70
Total Assets 414,655.45M 407,150.08M 477,455.27M 495,338.49M 514,039.63M
Total liabilities 223,355.26M 236,849.25M 303,449.96M 314,739.89M 333,045.88M
Total equity 120,075.27M 106,354.51M 108,416.34M 114,444.01M 116,586.19M
Operating cash flow 47,035.50M 42,384.90M 59,401.80M 65,516.73M 55,711.10M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 13,143.50M 14,307.84M 14,491.69M 15,191.96M 16,952.02M
Gross Profit 4,128.17M 4,553.71M 4,534.89M 4,526.91M 4,831.34M
Operating income 744.30M 904.62M 965.31M 1,011.52M 1,016.01M
Income before tax 2,341.42M 1,076.09M 1,077.02M 1,174.27M 1,156.78M
Net income 1,309.70M 578.42M 614.86M 731.62M 711.69M
EBITDA 1,346.45M 1,531.23M 1,990.59M 2,108.47M 2,192.25M
Diluted EPS 0.22 0.10 0.10 0.12 0.12
Dividends Per Share 0.18 0.08 0.08 0.09 0.09
Total Assets 13,934.01M 13,246.25M 15,927.38M 17,628.95M 18,579.52M
Total liabilities 7,505.59M 7,705.67M 10,122.75M 11,201.50M 12,037.65M
Total equity 4,034.99M 3,460.14M 3,616.65M 4,073.03M 4,213.90M
Operating cash flow 1,546.06M 1,405.59M 1,921.59M 2,225.09M 1,994.53M

Valuation Measures

Dec 2021
PER19.60
ROA3.93%
ROE17.20%
Operating margin5.99%
Profit margin4.19%

Key executives

  • Chairman & Chief Strategy Officer: Chih Hsien Lo
  • Co-General Manager: Chao Kai Huang
  • Co-General Manager: Ching Tien Li
  • Head-Finance, Spokesman & Assistant GM: Kuo Hui Chen
  • Assistant General Manager: Tsung Yi Liu

Shareholders

  • KAO HSIU LING (6.5%)
  • The Vanguard Group, Inc. (2.6%)
  • HOU PO MING (2.6%)
  • HOU PO YU (2.2%)
  • BlackRock Fund Advisors (1.7%)
  • Norges Bank Investment Management (1.3%)
  • RBC Global Asset Management (UK) Ltd. (1.3%)
  • Cathay Securities Investment Trust Co., Ltd. (0.9%)
  • LIN CHANG SHENG (0.8%)
  • Yuanta Securities Investment Trust Co., Ltd. (0.8%)

Contact Details

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Competitors

  • Wei Chuan Foods Corp.
  • KIDO Group Corporation
  • President Chain Store Corporation
  • Hey-Song Corp.
  • Hotai Finance Co., Ltd.
  • Eastern Media International Corporation
  • Taiwan FamilyMart Co., Ltd.
  • Formosa Taffeta Co., Ltd.
  • Yuanta Futures Co., Ltd.
Last Updated on 4 Oct, 2022

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