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味千(中国):去年毛利率69%! Print E-mail
Written by Andrew Vanburen   
Friday, 29 January 2010

张加海驻厦门翻译

 

Image
秘密在调味料里:味千紧守它的汤头配方。图片:味千
 

味千(中国)控股(港交所代码:538)打算采取一些餐饮连锁店在经济困难时期的做法――提升收益率和连锁扩张。

 2009年上半年的营业额同比增加24.3%9.37亿港币。同时,来自核心业务的利润增长更快,增幅达26.3%,1.58亿港币。

 因此,这家日本拉面餐厅(www.ajisen.com.cn)能够将毛利率从68.1%平稳地提升至68.9%。在这个收益率不高的行业中,这样的毛利率是非常高的。

 据最后一次统计,公司在中国和香港已经拥有400家连锁店,遍及19个省市。

 公司的首席财务官刘家豪先生,于本周告诉NextInsightAries Consulting,公司今年底的目标是设立520家餐厅。

 “如果按照在已有店面城市的基础上,以平均每年新设三个店面计算,我们还能再开200家店左右。我们今年的目标是至少新开120家店面,114家在中国,6家在香港。我们的长期目标是在2014年底达到1000家。”他说。 

这样的扩张完全不会对公司长期在品质和舒适度方面的承诺有所危害,成本会比较低。

 去年上半年,味千(中国)设法使员工成本占总营业额的比例从一年前的17.9%降至17.5%。而且每一个新店的投资成本都下降了10% 

“我们上半年来自核心业务的利润得益于主营业务支出的削减(其在营业额的占比从14.5%减少到13.5%)。在此时期,我们控制成本,提高利润率。而我们的表现也证明了我们的承诺。”他补充说。

  

汤头:成功的秘诀

 味千(中国)相信,顾客最终对这个餐厅忠诚度的建立主要是由于公司提供的产品口味。

 这就是为什么这个香港上市公司如此重视它的汤头配方,并把它作为机密保守。 

“从母公司获得汤头配方权利的费用占我们总成本的3%。但物有所值。”刘先生说。

 他补充说,味千(中国)的固定成本相对较低。这使得公司能在食品饮料这个薄利行业中,保持着令人羡慕的高利润率。

 “我们在中国的每个店每个月要支付给母公司3500元人民币的特许使用权费用,香港地区则是7000港币。我们还要将包装拉面销售收入的一定比例作为技术支持费用支付给母公司。总的算来,我们的固定成本只占总收入的1%。这对我们取得这么高的利润率有很大的支持。

 公司享有在中国大陆、香港和澳门餐厅永久使用味千品牌的特许权。

 味千(中国)也控制来自当地产品和供应商的成本。 

“我们在中国有许多产品都是从当地采购,包括面条、汤粉和肉。我们的日本母公司在上海有一个生产基地,供应我们在中国大陆的餐厅。而在日本的工厂则供应香港餐厅。”他说。

 此外,本地的农产品经销商将一些比较容易腐烂的农产品(比如蛋)以较低的价格和保证新鲜的品质供应给餐厅。这也有助于味千(中国)保持这么高的利润率。

 刘先生对上一份业绩报告作了补充:2009年上半年,来自于餐厅的收入占总收入的95%,供应给超市和其他餐厅的包装拉面则占5% 

“我们认为在未来的五年里,这个比例不会有太多的变化。如果有变化,餐厅的销售收入所占的比例应该会提高。”

 他补充说,味千(中国)对集团的管理模式有着强烈的偏好。如果一定需要的话,也只会选择特许经营的方式。

 “我们在中国大陆近400家的餐厅中,目前只有6家是特许经营,而且它们都位于机场。这些都被要求在他们的食品柜台租借地方。”

 他说,这6个特许经营点所交纳的品牌专利使用权费用占到了味千(中国)收入的4%左右。 

“我们比较不喜欢特许经营,因为我们想要确保对品质和信誉的完全控制。”

味千(中国)2009年上半年2008年上半年增幅%
收入(港币)936.95 百万753.89百万+24.3%
毛利润645.14百万513.48百万+25.6%
毛利率68.9%68.1%+0.8 pp
 

下一个肯德基?

 总部位于美国的肯德基常常作为世界上最大的成功食品连锁店之一被人们提及。 

这家快餐店作为百胜餐饮集团的一个重要组成部分,目前在中国已有超过1500家餐厅。而且遍布于每个比较大的市场,比如上海、北京、广州和深圳。

  

“我们目前在上海有90多家餐厅。所以,在那儿我们逐渐要赶上肯德基了。但我们的客单量更好,因为到我们餐厅消费的顾客人均消费额约34元,而肯德基只有21元。”刘先生说。

 但他认为这两个连锁店都还有发展的空间,因为中国的市场将会随着经济的发展而相应增长。 

“中国的经济持续蓬勃发展,人民的收入也随之攀升。即使是在二级城市,消费者对国内越来越高的食品价格的接受度也在提高。”

 原文请点击:AJISEN: Gross margins were 69% last year! 

 

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