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Meituan H1 reports a 10.6% rise in in-store, hotel & travel businesses GTV

09/28/2018| 1:22:28 PM| 中文

Revenues from in-store, hotel & travel businesses in the first half of 2018 increased by 44.1% to RMB 6.8 billion from RMB 4.7 billion in the same period of 2017.

Meituan Dianping (Meituan) announced its interim report for the six months ended 30 June 2018.

Operating Summary

• The total Gross Transaction Volume (GTV) grew by 55.6% in the first half of 2018 to RMB 231.9 billion from RMB 149.0 billion in the same period of 2017.

• Annual Transacting Users in the twelve months ended June 30, 2018 grew by 30.0% to 356.9 million from 274.6 million in the twelve months ended June 30, 2017. On average, the annual number of transactions each Transacting User increased to 21.4 transactions in the twelve months ended June 30, 2018 from 15.5 transactions in the twelve months ended June 30, 2017.

• Annual Active Merchants grew by 51.6% to 5.1 million in the twelve months ended June 30, 2018 from 3.4 million in the twelve months ended June 30, 2017.

Financial Summary

• Total revenues increased by 91.2% to RMB 26.3 billion in the first half of 2018 from RMB 13.8 billion in the same period of 2017. Meituan has achieved strong revenue growth across all major business segments.

• Total gross profit increased to RMB 6.1 billion in the first half of 2018 from RMB 5.4 billion in the same period of 2017. Meituan has continued to make gross margin improvement in our core businesses such as food delivery and in store, hotel & travel.

• Selling and marketing expenses as a percentage of total revenues decreased to 25.5% in the first half of 2018 from 31.7% in the same period of 2017, attributable to economies of scale and healthy operating leverage.

• Negative adjusted EBITDA increased to RMB2.7 billion and adjusted net loss increased to RMB4.2 billion in the first half of 2018, primarily due to increase in investments into the new initiatives to explore and capture future business opportunities along the value chain.

GTV of in-store, hotel & travel businesses grew by 10.6% to RMB 82.8 billion in the first half of 2018 from RMB 74.9 billion in the same period of last year. 

Revenues from in-store, hotel & travel businesses in the first half of 2018 increased by 44.1% to RMB 6.8 billion from RMB 4.7 billion in the same period of 2017. 

Gross profit increased to RMB 6.1 billion in the first half of 2018 from RMB 4.2 billion in the same period of 2017 while gross margin increased to 89.4% from 88.5%.

Domestic room nights increased by 49% to 133.5 million in the six months of 2018 from 89.4 million in the same period of 2017. In addition, the average daily rate of the domestic room nights sold on the platform continued to increase healthily.

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TAGS: Meituan | financial statement
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