HONG KONG, Jun 29, 2022 - (ACN Newswire) - Hypebeast Limited (Stock Code: 0150.HK) is the global leading platform for contemporary culture and lifestyle, and a premier destination for editorially-driven commerce and news. The Board of Directors of Hypebeast Limited has announced the Group's annual results for the year ended 31 March 2022 ("FY2022").
-- Revenue amounted to HK$895.6 million in FY2022, up from HK$674.2 million in FY2021, representing an increase of HK$221.4 million or 32.8%.
-- Gross profit margin rose by 11.7 percentage points from 49.6% in FY2021 to 61.3% in FY2022.
-- The Group delivered net profit of HK$100.2 million for FY2022, a 41.9% increase compared to FY2021. The increase translated to an improvement of net profit margin by 0.7 percentage points, resulting in an increase from 10.5% in FY2021 to 11.2% in FY2022.
-- Total value in signed contracts for the Media Segment increased by 31.7% during FY2022 as compared to the prior year.
-- 12-month average website monthly unique visitors (number of user who requests web pages across Hypebeast, Hypebae and Popbee platforms in a month) amounted to 16.4 million, representing a 5.1% increase over FY2021, and aggregated social media following (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram, Twitter) increased from 26.1 million as at 31 March 2021 to 32.4 million as at 31 March 2022.
The Group recorded strong revenue growth in FY2022 and reported another all-time high in revenue and profitability. Revenue amounted to HK$895.6 million in FY2022, up from HK$674.2 million in FY2021, representing an increase of HK$221.4 million or 32.8%. Gross profit margin rose by 11.7 percentage points from 49.6% in FY2021 to 61.3% in FY2022. The Group delivered net profit of HK$100.2 million for FY2022, a 41.9% increase compared to FY2021. The increase translated to an improvement of net profit margin by 0.7 percentage points, resulting in an increase from 10.5% in FY2021 to 11.2% in FY2022.
Demand for the Group's media and agency services remained strong, with total value in signed contracts for the Media Segment having increased by 31.7% during FY2022 as compared to the prior year. As COVID-19 pandemic's intensity wanes and pandemic-related restrictions continue to ease, the Group's events production and offline partnerships under the Media Segment have surpassed pre-COVID-19 and FY2019 levels. The Group noted increasing demand for offline campaigns and activations as global marketing spend continues to expand.
12-month average website monthly unique visitors (number of user who requests web pages across Hypebeast, Hypebae and Popbee platforms in a month) amounted to 16.4 million, representing a 5.1% increase over FY2021, and aggregated social media following (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram, Twitter) increased from 26.1 million as at 31 March 2021 to 32.4 million as at 31 March 2022. The Group aims to attract and reach a wider user-customer base through its development of new editorial properties, such as Hypegolf that focuses on golf and lifestyle, Hypeart on art and artists, and Hypemoon on Web 3.0 projects and technologies. The Group continues to explore similar opportunities by establishing various online and offline channels and touchpoints in order to drive the Group's brand awareness and increase engagement with new and existing users and customers.
The HBX physical retail shop located in Central, Hong Kong remains a strong marketing window and attraction point for customers to participate in the Hypebeast ecosystem offline. In addition, the Group's U.S. flagship store opened in June 2022 (subsequent to the reporting financial year), spanning seven floors, housing the U.S. East Coast office, the HBX New York flagship store, a Hypebeans cafee, as well as event spaces. The New York flagship store will support execution and accelerate growth of our strong North American customer base and serve as a focused point of marketing for the E-Commerce and Retail Segment.
Kevin Ma, Executive Director, Chairman, and CEO of Hypebeast, said:
"We have recorded yet another all-time high in revenue and profitability, showing the strategic choices made both before and during the unprecedented COVID-19 context have paid off. The FY2022 result is the best demonstration of how the Group is geographically and strategically well-positioned to continue to capture further growth opportunities. Despite today's uncertainties, we are ambitious and will continue to focus on building and strengthening all facets of Hypebeast through market expansion, category diversification, and offering an omnichannel experience through our e-commerce platform and physical stores, in particular the newly opened HBX New York flagship store."
A breakdown of this year's financial highlight is as follows:
FY2022 HK$'000 FY2021 HK$'000
Revenue 895,632 674,212
Gross Profit 549,313 334,127
Gross Profit Margin 61.3% 49.6%
Selling and marketing expenses (160,391) (112,791)
Administration and operating expenses (202,650) (125,005)
Professional fees related to the Merger (30,185) -
EBITDA (Note) 174,252 122,596
Net profit 100,167 70,584
Net profit margin 11.2% 10.5%
Earnings per share
- Basic (HK cent) 4.88 3.47
- Diluted (HK cent) 4.87 3.45
Note: Earnings before interest, tax, depreciation and amortization ("EBITDA") is calculated as profit before tax + interest expense + depreciation + amortization expense.
For further details on the Annual Results performance, visit the Group's corporate website to view the full results announcement.
https://hypebeast.ltd/investors
For investor inquiries, please contact:
investors@hypebeast.com
For more information, please contact:
media@hypebeast.com
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Ivy Chan Tel: (852) 2864 4890 Email: ivy.chan@sprg.com.hk
Website: https://www.sprg.asia/
About Hypebeast Ltd. (Stock Code: 0150.HK)
Hypebeast is a leading global platform for contemporary culture and lifestyle, and a premier destination for editorially-driven commerce and content. Founded in 2005, it became a publicly listed media company in 2016 and today boasts a global readership across North America, Asia Pacific, Europe and more. The Group has expanded its publishing brands to a wider scope in recent years, encompassing Hypebeast and its multiple content distribution platforms, e-commerce and physical store HBX, and agency Hypemaker. For more information, please visit www.hypebeast.ltd.
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