阿里巴巴+2022年2季度业绩演示资料

JuneJuneQuarter2022ResultsAugust4,20222ThispresentationcontainscertainfinancialmeasuresthatarenotrecognizedundergenerallyacceptedaccountingprinciplesintheUnitedStates(“GAAP”),includingadjustedEBITDA(includingadjustedEBITDAmargin),adjustedEBITA(includingadjustedEBITAmargin),non-GAAPnetincome,non-GAAPdilutedearningspershare/ADSandfreecashflow.Forareconciliationofthesenon-GAAPfinancialmeasurestothemostdirectlycomparableGAAPmeasures,seeGAAPtoAdjusted/Non-GAAPMeasuresReconciliation,GAAPtoNon-GAAPNetIncomeAttributabletoOrdinaryShareholdersandtheslidespresentingrevenueandEBITAbysegments.Thispresentationcontainsforward-lookingstatements.Thesestatementsaremadeunderthe“safeharbor”provisionsoftheU.S.PrivateSecuritiesLitigationReformActof1995.Theseforward-lookingstatementscanbeidentifiedbyterminologysuchas“may,”“will,”“expect,”“anticipate,”“future,”“aim,”“estimate,”“intend,”“seek,”“plan,”“believe,”“potential,”“continue,”“ongoing,”“target,”“guidance,”“is/arelikelyto”andsimilarstatements.Inaddition,statementsthatarenothistoricalfacts,includingstatementsaboutAlibaba’sstrategiesandbusinessplans,Alibaba’sbeliefs,expectationsandguidanceregardingthegrowthofitsbusinessanditsrevenue,thebusinessoutlookandquotationsfrommanagementinthispresentation,aswellasAlibaba’sstrategicandoperationalplans,areorcontainforward-lookingstatements.Alibabamayalsomakeforward-lookingstatementsinitsperiodicreportstotheU.S.SecuritiesandExchangeCommission(the“SEC”),inannouncementsmadeonthewebsiteofTheStockExchangeofHongKongLimited(the“HongKongStockExchange”),inpressreleasesandotherwrittenmaterialsandinoralstatementsmadebyitsofficers,directorsoremployeestothirdparties.Forward-lookingstatementsinvolveinherentrisksanduncertainties.Anumberoffactorscouldcauseactualresultstodiffermateriallyfromthosecontainedinanyforward-lookingstatement,includingbutnotlimitedtothefollowing:Alibaba’sabilitytomaintainthetrustedstatusofitsecosystem;risksassociatedwithsustainedinvestmentsinAlibaba’sbusiness,strategicacquisitionsandinvestments;Alibaba’sabilitytomaintainorgrowitsrevenueorbusiness;Alibaba’sabilitytocontinuetocompeteeffectivelyandmaintainandimprovethenetworkeffectsofitsecosystem;companyculture;Alibaba’sabilitytocontinuetoinnovate;risksandchallengesassociatedwithoperatingacomplexandlarge-scalecompany;risksassociatedwithouracquisitions,investmentsandalliances;risksassociatedwithexpandingourinternationalandcross-borderbusinessesandoperations;uncertaintiesarisingfromcompetitionamongcountriesandgeopoliticaltensions,includingprotectionistornationalsecuritypolicies;changesinlaws,regulationsandregulatoryenvironmentthataffectAlibaba’sbusinessoperations(includingintheareasofanti-monopolyandunfaircompetition);risksassociatedwiththeperformanceandregulatoryenvironmentofourbusinesspartners,includingbutnotlimitedtoAntGroup;privacyanddataprotectionregulationsandconcerns;securitybreaches;fluctuationsingeneraleconomicandbusinessconditionsinChinaandglobally;impactsoftheCOVID-19pandemicandassumptionsunderlyingorrelatedtoanyoftheforegoing.FurtherinformationregardingtheseandotherrisksisincludedinAlibaba’sfilingswiththeSECandannouncementsonthewebsiteoftheHongKongStockExchange.Allinformationprovidedinthispresentationisasofthedateofthispresentationandarebasedonassumptionsthatwebelievetobereasonableasofthisdate,andAlibabadoesnotundertakeanyobligationtoupdateanyforward-lookingstatement,exceptasrequiredunderapplicablelaw.6)Theyear-over-yearpercentagesaspercentagesasstatedarecalculatedbasedontheexactamountandtheremaybeminordifferencesfromtheyear-over-yearpercentagescalculatedbasedontheRMBamountsafterrounding.3 ThreemonthsendedJune30,%Total(inRMBmillions,exceptpersharedataandpercentages)20212022YoY%RevenueTotalTotalrevenue205,740205,555(0%)100%ommerce(1%)InternationalcommercevicesCainiaoCloudDigitalmediaandentertainment(10%)%InnovationinitiativesandothersIncomefromoperations(19%)(2)Share-basedcompensationexpense(14%)Amortizationofintangibleassets(10%)Dilutedearningspershare(5)DilutedearningsperADS5)(48%)(3)(6)(48%)(3)(6)NonGAAPMeasures)(2)(29%)(4)(6))(2)(29%)(4)(6)(29%)(4)(6)312.081.47Non-GAAPdilutedearningspershare(1)(5)Non-GAAPdilutedearningsperADS(1)(5)Notes:(1)Seethesectionentitled“GAAPtoAdjusted/Non-GAAPMeasuresReconciliation”formoreinformationaboutthenon-GAAPmeasuresreferredtoonPage16and17.(2)Theyear-over-yeardecreaseswereprimarilyduetothedecreaseinChinacommerceadjustedEBITA,whichwasprimarilyduetoadecreaseincustomermanagementrevenue.Customermanagementrevenuedecreasedyear-over-year,primarilyasaresultofamid-single-digitdeclineyear-over-yearinonlinephysicalgoodsGMVofTaobaoandTmall,excludingunpaidorders,aswellasincreasedordercancellationduetotheimpactsfromCOVID-19resurgenceandrestrictionsthatresultedinsupplychainandlogisticsdisruptionsinAprilandmostofMay.ThedecreaseinChinacommerceadjustedEBITAwaspartlyoffsetbythenarrowedadjustedEBITAlossofLocalconsumerservicesdrivenbyEle.me’simproveduniteconomicsperorder.Ele.me’suniteconomicsperorderwaspositiveduringtheJunequarterduetoincreasedaverageordervalueyear-over-yearaswellasitsongoingfocusonoptimizinguseracquisitionspendingandreducingdeliverycostperorder.(3)Theyear-over-yeardecreaseswereprimarilyattributabletothedecreaseinincomefromoperations,thedecreaseinshareofresultsofequitymethodinvestee,aswellasthedecreaseinnetgainsarisingfromchangeinmarketpricesofourequityinvestmentsinpublicly-tradedcompanies.(4)Theyear-over-yeardecreaseswereprimarilyattributabletothedecreaseinadjustedEBITA,andthedecreaseinshareofresultsofequitymethodinvestees.(5)EachADSrepresentseightordinaryshares.62%59%13%12%5%5%62%59%13%12%5%5%4%3%ProductDevelopmentExpenses(excludingSBC)andOperatingExpensesCostCostofRevenue(excludingSBC)Threemonthsended%ofRevenueJune30,2021June30,2022Sales&MarketingExpenses(excludingSBC)Threemonthsended%ofRevenueJune30,2021June30,2022Threemonthsended%ofRevenueJune30,2021June30,2022General&AdministrativeExpenses(excludingSBC)Threemonthsended%ofRevenueJune30,2021June30,20224Note:(1)Taxeffectsprimarilycomprisestaxeffectsrelatingtoshare-basedcompensationexpense,amortizationofintangibleassetsandcertaingainsandlossesfrominvestments,andothers.5tedFinancials(inRMBMn,exceptpercentages)IncomefromoperationsInterestandinvestmentincome,netInterestexpenseOtherincome,netIncomebeforeincometaxandshareofresultsofequitymethodinvesteesIncometaxexpensesShareofresultsofequitymethodinvesteesNetincomeNetincomeattributabletoordinaryshareholdersAdjustmentstoreconcilenetincometonon-GAAPnetincome:Share-basedcompensationexpenseAmortizationofintangibleassetsImpairmentofinvestmentsGainondeemeddisposals/disposals/revaluationofinvestmentsandothersTaxeffects(1)Non-GAAPnetincomeNon-GAAPnetincomeattributabletoordinaryshareholdersThreemonthsendedJune30,20212022YoY%ChangeYoY30,84714,101(1,267)2,15745,838(9,096)6,09342,83545,1417,8113,073397(10,624)(51)43,44145,74724,9435,369(1,244)29,177(5,399)(3,480)20,29822,7396,7252,7513,114(1,712)(924)30,25231,355(19%)(62%) (2%)(95%)(36%)(41%)NA(53%)(50%)(14%)(10%)684%(84%)1,712%(30%)(31%)(5,904)(8,732) (2,048)(16,661)3,697(9,573)(22,537)(22,402)(1,086)(322)2,7178,912(873)(13,189)(14,392)6CashCashFlow&BalanceSheet:SelectedFinancialsThreemonthsendedJune30,20212022CashFlowRMBMnRMBMnUSDMnNetcashprovidedbyoperatingactivitiesess33,60333,8695,057Purchaseofpropertyandequipment(excludinglanduserightsandconstructioninprogressrelatingtoofficecampuses)AcquisitionofintangibleassetsChangesintheconsumerprotectionfunddeposits(10,897) (2,022)(11,110)(22)(564)(1,659)(4)(84)Freecashflow20,683222,1733,310CapitalExpenditureShareRepurchase12,5187,134AsofMarch31,202211,84323,880AsofJune30,1,7683,5652022USDMnRMBMnUSDMnRMBMnRMBMn227,353256,514(47,085)(94,259)215,919276,461(52,622)(227,353256,514(47,085)(94,259)215,919276,461(52,622)(99,389)32,23641,275(7,856)(14,838)Short-terminvestmentsessCurrentandnon-currentbankborrowingsCurrentandnon-currentunsecuredseniornotesNetNetcash340,369342,52350,817(2)ForamoreltsNotes:intuitivepresentation,wideningoflossinYoY%isshownintermsofnegativegrowthrate,andnarrowingoflossinYoYintuitivepresentation,wideningoflossinYoY%isshownintermsofnegativegrowthrate,andnarrowingoflossinYoY%isshownintermsofpositivegrowthrate.78RetailrevenueTaocaicaiTaobaoDeals•RevenuefromourChinacommerceretailbusinessinthequarterendedJune30,2022wasRMB136,977million(US$20,450million),adecreaseof2%comparedtoRMB140,105millioninthesamequarterof2021.Customermanagementrevenuedecreasedby10%year-over-year,primarilybecauseonlinephysicalgoodsGMVgeneratedonTaobaoandTmall,excludingunpaidorders,declinedmid-single-digityear-over-year,andincreasedordercancellationduetotheimpactsfromCOVID-19resurgenceandrestrictionsthatresultedinsupplychainandlogisticsdisruptionsinAprilandmostofMay.•DirectsalesandothersrevenueunderChinacommerceretailbusinessinthequarterendedJune30,2022wasRMB64,714million(US$9,661million),anincreaseof8%comparedtoRMB59,708millioninthesamequarterof2021,primarilyduetotherevenuegrowthcontributedbyourFreshippoandAlibabaHealth’sdirectsalesbusinesses.eWholesalerevenue•RevenuefromourChinacommercewholesalebusinessinthequarterendedJune30,2022wasRMB4,958million(US$740million),anincreaseof26%comparedtoRMB3,924millioninthesamequarterof2021,primarilyduetoanincreaseinrevenuefromnewduty-freewholesalebusinessandvalue-addedservicestopayingmembers.adjustedEBITA•AdjustedEBITAdecreasedby14%toRMB43,574million(US$6,505million)inthequarterendedJune30,2022,comparedtoRMB50,822millioninthesamequarterof2021.Thedecreasewasprimarilyduetothedecreaseincustomermanagementrevenue,whichalsoledtoadecreaseinadjustedEBITAmarginfrom35%inthequarterendedJune30,2021to31%inthequarterendedJune30,2022.DuringthequarterendedJune30,2022,TaobaoDealssignificantlynarrowedlossesyear-over-yearaswellasquarter-over-quarterdrivenbyoptimizingspendinginuseracquisitionaswellasimprovingaveragespendingofactiveconsumers.Taocaicaisignificantlyreducedlossesquarter-over-quarter,drivenbyoptimizedpricingstrategy,bettersourcingcapabilityandloweredoperatingcosts. ThreemonthsendedJune30,nagementersnagementersChinacommercewholesale8(1%)5%5%AdjEBITAAdj.EBITAMargin1%eeRetailrevenueceWholesalerevenueAdj.EBITA•RevenuefromourInternationalcommerceretailbusinessinthequarterendedJune30,2022wasRMB10,524million(US$1,571million),adecreaseof3%comparedtoRMB10,800millioninthesamequarterof2021.ThedecreasewasprimarilyduetothedecliningordersofAliExpressduetochangeintheEuropeanUnion’sVATrules,depreciationofEuroagainstU.SdollaraswellasongoingsupplychainandlogisticsdisruptionsduetotheRussia-Ukraineconflict,partlyoffsetbytheincreaseinrevenuecontributedbyLazadaasaresultofGMVgrowthandactiveincreaseinmonetarizationinitiativesthatresultedinhighermonetarizationrate.•RevenuefromourInternationalcommercewholesalebusinessinthequarterendedJune30,2022wasRMB4,927million(US$736million),anincreaseof12%comparedtoRMB4,402millioninthesamequarterof2021.Theincreasewasprimarilyduetoanincreaseinrevenuegeneratedbycross-borderrelatedvalue-addedservices.adjustedEBITA•AdjustedEBITAwasalossofRMB1,567million(US$234million)inthequarterendedJune30,2022,comparedtoalossofRMB1,030millioninthesamequarterof2021.Theincreaseinlossyear-over-yearwasprimarilyduetoincreaseinlossofTrendyolresultingfromitsinvestmentsinnewbusinesses,suchasinternationalbusinessandlocalconsumerservicesinTürkiye,offsetbythereducedlossfromLazadaasaresultofrevenuegrowthandenhancedoperationefficiency. ThreemonthsendedJune0,(inRMBMn,exceptpercentages)20212022YoY%etailInternationalcommercewholesale,402,927Adj.EBITAMargin30)67)9erServicesrevenuesTaoxiandalemeAmap•RevenuefromLocalconsumerservices,whichincludes“To-Home”and“To-Destination”businessessuchasEle.me,AmapandFliggy,wasRMB10,632million(US$1,587million)inthequarterendedJune30,2022,anincreaseof5%comparedtoRMB10,099millioninthesamequarterof2021,primarilyduetomoreefficientuseofsubsidiesthatwerecontrarevenueofEle.me.adjustedEBITA•AdjustedEBITAwasalossofRMB3,044million(US$454million)inthequarterendedJune30,2022,comparedtoalossofRMB4,770millioninthesamequarterof2021,primarilyduetothecontinuednarrowingoflossesfromour“To-Home”businesses,drivenbyEle.me’simproveduniteconomicsperorder.Ele.me’suniteconomicsperorderwaspositiveduringtheJunequarterduetoincreasedaverageordervalueyear-over-yearaswellasitsongoingfocusonoptimizinguseracquisitionspendingandreducingdeliverycostperorder. ThreemonthsendedJune0,(inRMBMn,exceptpercentages)20212022YoY%Adj.EBITA70)44)Adj.EBITAMargin(47%)(29%)mentmentRevenue•RevenuefromCainiao,whichrepresentsrevenuefromitsdomesticandinternationalone-stop-shoplogisticsservicesandsupplychainmanagementsolutions,afterinter-segmentelimination,wasRMB12,142million(US$1,813million)inthequarterendedJune30,2022,anincreaseof5%comparedtoRMB11,601millioninthesamequarterof2021,primarilycontributedbytheincreaseinrevenuefromconsumerlogisticsservicesasaresultofserviceupgradetoenhanceconsumerexperience,partlyoffsetbythedecreaseininternationalordersfromAliExpress.•TotalrevenuegeneratedbyCainiao,beforeinter-segmentelimination,whichincludesrevenuefromservicesprovidedtootherAlibababusinesses,wasRMB17,292million(US$2,582million),anincreaseof7%comparedtoRMB16,198millioninthesamequarterof2021.Thisincreasealsoreflectedthegrowthoffulfillmentsolutionsandvalue-addedservicesprovidedtoourChinacommerceretailbusinesses,suchasTmall,TaobaoandTaobaoDeals.SegmentadjustedEBITA•AdjustedEBITAwasalossofRMB185million(US$28million)inthequarterendedJune30,2022,comparedtoalossofRMB146millioninthesamequarterof2021..Theyear-over-yearincreaseinlosswasprimarilyduetoourinvestmentinexpandingourglobalsmartlogisticsinfrastructure,aswellasreducedprofitfromAliExpressfulfilments. ThreemonthsendedJune0,(inRMBMn,exceptpercentages)20212022YoY%Adj.EBITAAdj.EBITAMargin(1%)(2%)mentmentRevenue•RevenuefromourCloudsegment,afterinter-segmentelimination,wasRMB17,685million(US$2,640million)inthequarterendedJune30,2022,anincreaseof10%comparedtoRMB16,051millioninthesamequarterof2021.Year-over-yearrevenuegrowthofourCloudsegmentreflectedrecoveringgrowthofoverallnon-Internetindustries,drivenbyfinancialservices,publicservices,andtelecommunicationindustries;partlyoffsetbydeclineinrevenuefromthetopInternetcustomerthathasgraduallystoppedusingouroverseascloudservicesforitsinternationalbusinessduetonon-productrelatedrequirements,onlineeducationcustomersaswellassofteningdemandfromothercustomersinChina’sInternetindustry.•TotalrevenuefromourCloudsegment,beforeinter-segmentelimination,whichincludesrevenuefromservicesprovidedtootherAlibababusinesses,wasRMB23,938million(US$3,574million),anincreaseof8%comparedtoRMB22,186millioninthesamequarterof2021.adjustedEBITA•AdjustedEBITAofCloudsegment,whichcomprisesAlibabaCloudandDingTalk,wasRMB247million(US$37million)inthequarterendedJune30,2022,comparedtoRMB340millioninthesamequarterof2021.Theyear-over-yeardecreasewasprimarilyduetoourinvestmentsintechnologyandincreaseincolocationandbandwidthcostsasaresultofincreasedusageofDingTalk’sproductsandservicesfromenterprises,schoolsandorganizationsduetogreaterhybrid-workadoptiondrivenbyCOVID-19resurgencesinceMarch2022inChina. ThreemonthsendedJune30,(inRMBMn,exceptpercentages)20212022YoY%Adj.EBITAAdj.EBITAMargin2%DigitalDigitalMediaandEntertainmentSegmentRevenueSegmentAdjustedEBITA•RevenuefromourDigitalmediaandentertainmentsegmentinthe•AdjustedEBITAinthequarterendedJune30,2022wasalossofRMB630quarterendedJune30,2022wasRMB7,231million(US$1,080million),million(US$94million),comparedtoalossofRMB419millioninthesameadecreaseof10%,comparedtoRMB8,073millioninthesamequarterquarterof2021.Youkunarrowedlossesyear-over-year,whichwasoffsetbyof2021,primarilyduetothedecreaseinrevenuefromAlibabaPictures,theincreasedlossofotherentertainmentbusinessesduetotheimpactsofYoukuandotherentertainmentbusinesses.COVID-19.ThreemonthsendedJune30,(inRMBMn,(inRMBMn,exceptpercentages)20212022Revenue8,0737,231(10%)Adj.EBITA(419)(630)(50%)Adj.EBITAMargin(5%)(9%)InnovationInitiativesandOthersSegmentRevenueSegmentAdjustedEBITA•RevenuefromInnovationinitiativesandotherswasRMB479million•AdjustedEBITAinthequarterendedJune30,2022wasalossofRMB1,896(US$72million)inthequarterendedJune30,2022,adecreaseof30%million(US$283million),comparedtoalossofRMB1,433millioninthecomparedtoRMB685millioninthesamequarterof2021.samequarterof2021,primarilyduetoourinvestmentsintechnologyandinnovation. ThreemonthsendedJune30,(inRMBMn,(inRMBMn,exceptpercentages)20212022685(1,433)(209%)4685(1,433)(209%)479(1,896)(396%)RevenueAdj.EBITA(32%)Adj.EBITAMargin ThreemonthsendedJune30,%Total(inRMBMn,exceptpercentages)20212022%YoYRevenueTotalChinaCommerce(1%)Chinacommerceretail-Customermanagement-Directsalesandothers(1)Chinacommercewholesale8Totalinternationalcommerce2%InternationalcommerceretailInternationalcommercewholesale27(3%)12%Localconsumerservices5%Cainiao5%CloudDigitalmediaandentertainment(10%)Innovationinitiativesandothers(30%)Total05(0%)Note:(1)DirectsalesandothersrevenueunderChinacommerceretailprimarilyrepresentsourdirectsalesbusinesses,comprisingmainlySunArt,TmallSupermarketandFreshippo,whererevenueandthecostofinventoryare15recordedonagrossbasis.Note:(1)Taxeffectsprimarilycomprisestaxeffectsrelatingtoshare-basedcompensationexpense,amortizationofintangibleassetsandcertaingainsandlossesfrominvestments,andothers.31281435(10,624)(1,712)(255)(51)(924)(138)417GAAPtoAdjusted/Non-GAAPMeasuresReconciliationAdjustedEBITAandAdjustedEBITDAIncomefromoperationsShare-basedcompensationexpenseAmortizationofintangibleassetsAdjustedEBITADepreciationandimpairmentofpropertyandequipment,andoperatingleasecostrelatingtolanduserightsAdjustedEBITDANon-GAAPnetincomeNetincomeAdjustmentstoreconcilenetincometonon-GAAPnetincome:Share-basedcompensationexpenseAmortizationofintangibleassetsImpairmentofinvestmentsGainondeemeddisposals/disposals/revaluationofinvestmentsandothersTaxeffects(1)Non-GAAPnetincomeFreeFreecashflowNetcashprovidedbyoperatingactivitiesPurchaseofpropertyandequipment(excludinglanduserightsandconstructioninprogressrelatingtooffice