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FY2013/2014 Annual Results Announcement

Analyst Briefing

30th June, 2014

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Financial Review

Presented by Kitty Fung

Group Chief Financial Officer

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Disclaimer

In addition to historical information, this presentation contains forward-

looking statements with respect to the results of the operations and business

of Vitasoy. These forward-looking statements represent Vitasoy’s

expectations or beliefs concerning future events and involve known and

unknown risks and uncertainties that could cause actual results,

performance or events to differ materially from those expressed or implied

in such statements.

Vitasoy International Holdings Limited

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Year ended at 31st March

2014 (in HK$M)

2013 (in HK$M) (Restated)

Change

Turnover 4,494 4,051 11%

Gross Profit 2,175 1,925 13%

Profit Before Taxation 457 423 8%

Financial Highlights

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Year ended 31st March

2014 (in HK$M)

2013 (in HK$M) (Restated)

Change

EBITDA 653 618 6%

EBIT 467 442 6%

Profit Attributable to Shareholders 307 301 2%

Financial Highlights

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Financial Highlights

Year ended 31st March

2014 (in HK Cents)

2013 (in HK Cents)

(Restated)

Change

Basic Earnings Per Ordinary Share 29.8 29.4 1%

Final Dividend Per Share 17.0 16.6 2%

Full Year Dividend Per Share 20.2 19.8 2%

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Year ended 31st March

2014 (in HK$M)

2013 (in HK$M)

Change

Capital Expenditure 258 134 93%

Depreciation and Amortization 186 176 6%

Financial Highlights

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Balance as at

31st Mar 2014 (in HK$M)

31st Mar 2013 (in HK$M) (Restated)

Change

Cash 321 223 44%

Bank Borrowings & Finance Lease Obligations

126 252 - 50%

Net Cash / (Net Borrowings) 195 (29) -

Shareholders’ Equity 1,750 1,623 8%

Debt/Equity Ratio 7% 16% -9% pts.

Financial Highlights

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Financial Highlights

By Category

By Geography

Group Turnover: HK$4,494M

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Business Review and Outlook

Presented by Roberto Guidetti

Group Chief Executive Officer

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FY2013/2014: Another Year of Consistent Growth

Overall Topline: +11% (vs +9% in FY2012/2013)

Broad based growth across categories and geographies

Mainland China: continued its gradual acceleration

Hong Kong, Australia: strengthening core leadership

North America, Singapore: sustained growth, improved profitability

Focused investment and developed innovation in core categories

Business Highlights

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Sales : HK$1,899M ↑6% Operating Profit: HK$348M ↑9%

Consistent Revenue and Profit Growth driven by Focus on Core categories and In-store Execution

Hong Kong

Strengthened our Core

CALCI-PLUS – Accelerating

SAN SUI - #1 Fresh

Soymilk

Vitaland – Growth in Profit and Schools

Strong In-store Execution

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Strengthened Core Category Leadership

Innovations in Soy and Tea TVC

Strong Execution and Distribution Expansion

Hong Kong - Outlook

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Sales : HK$1,505M ↑28% Operating Profit: HK$145M ↑19%

Acceleration to +28% Growth – Adding Innovation to Execution and Expansion

Mainland China

VITASOY Pan – China

Restage

VITA TEA Activation

Horizontal Expansion

In Store Trial and Execution

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Mainland China - Outlook

Sustain Acceleration

Strengthen Execution, Continue Expansion, Generate Innovation

Keep Raising Operational Capabilities

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Sales : HK$492M ↓5% (↑ 7% in local currency) Operating Profit: HK$87M ↓1% (↑ 9% in local currency)

Solid Growth behind VITASOY Restage, offset by Weakened Australian Dollar

Australia and New Zealand

Core VITASOY Restage

TVC

In-store Execution

Coffee Channel

Broadening to Plant Milks

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Australia and New Zealand - Outlook

Innovation in Plant Milk

Execution in Grocery Channels

Driving Growth in Coffee Channels

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Sales : HK$513M ↑6% Operating Profit: HK$7M

Sustained Top Line Growth whilst Restoring Profitability

North America

Restaged NASOYA Tofuplus line

Improved Manufacturing Efficiency

Strengthened Leadership in Tofu

and Asian Pasta

Growth in All Channels

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North America - Outlook

Launch Value-added Products

Expand VITASOY Franchise

Increase Profitability

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Sales : HK$85M ↑2% (↑ 5% in local currency) Operating Profit: HK$8M↑ 14% (↑ 18% in local currency)

Sustained Leadership and Increased Profitability via Focused Execution and Strengthening Operations

New Premium Products

Broad Tofu Offerings

Strong Execution

Manufacturing Efficiency

Singapore

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Singapore - Outlook

Scale Up the Business

Expand VITASOY Franchise

Keep Improving Execution

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Going Forward

MARKET TAIL WINDS

ACCELERATE OUR CORE

EXPA

NSIO

N

EXEC

UTIO

N

INN

OV

ATIO

N

SECURING LONG-TERM SUCCESS

BRAND QUALITY INFRA-

STRUCTURE PEOPLE

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Thank you!