Exhibit 99.1

Yum China Reports Full Year Operating Profit of US$640 million, up 31% year-over-year

Led by Margin Expansion and New Unit Openings;

Board Authorizes Share Repurchase Program

Shanghai, China (February 8, 2017) – Yum China Holdings, Inc. (the “Company” or “Yum China”) (NYSE: YUMC) today reported unaudited results for the full year and fourth quarter ended December 31, 2016. Reported GAAP results include Special Items, which are excluded from non-GAAP measures.  Special Items are not allocated to any segment and therefore only impact reported results of Yum China.  See Reconciliation of Reported Results to Non-GAAP Measures within this release. 

The Board of Directors authorized Yum China to repurchase up to $300 million of shares of common stock.

Full-Year Highlights

 

Total system sales grew 5%, including growth of 6% at KFC and 3% at Pizza Hut Casual Dining, excluding foreign currency translation (“F/X”).

 

Opened 575 new restaurants for the full year, or 5% net growth, surpassing 7,500 restaurants in China.

 

Same-store sales were flat, with an increase of 3% at KFC, offset by a decline of 7% at Pizza Hut Casual Dining.

 

Total restaurant margin increased 2.7 percentage points to 15.3%, primarily aided by the impact of retail tax structure reform implemented on May 1, 2016.

 

Reported operating profit grew 31%, primarily aided by the impact of retail tax structure reform. Foreign currency translation negatively impacted operating profit by $36 million. Excluding F/X and Special Items, operating profit grew 37%.

Fourth-Quarter Highlights

 

Total system sales grew 4%, including growth of 4% at KFC and 6% at Pizza Hut Casual Dining, excluding F/X.

 

Opened 302 new restaurants during the quarter.

 

Same-store sales were flat, with an increase of 1% at KFC, offset by a decline of 3% at Pizza Hut Casual Dining.

 

Foreign currency translation negatively impacted operating profit by $5 million.

Key Financial Results

 

 

 

 

Fourth Quarter

 

 

 

Full Year

 

 

 

(in US$ million, except

 

 

 

 

 

 

 

 

 

% Change

 

 

 

 

 

 

 

 

 

 

 

% Change

 

 

 

for per share data and percentages)

 

2016

 

 

2015

 

 

Reported

 

 

Ex F/X

 

 

 

2016

 

 

2015

 

 

Reported

 

 

Ex F/X

 

 

 

Reported Operating Profit

 

$

58

 

 

$

5

 

 

 

922

%

 

 

1,010

%

 

 

$

640

 

 

$

488

 

 

 

31

%

 

 

38

%

 

 

Operating Profit Before Special Items1

 

$

75

 

 

$

20

 

 

 

265

%

 

 

288

%

 

 

$

655

 

 

$

503

 

 

 

30

%

 

 

37

%

 

 

Diluted EPS

 

$

0.23

 

 

$

(0.08

)

 

NM

 

 

NM

 

 

 

$

1.36

 

 

$

0.89

 

 

 

53

%

 

 

62

%

 

 

Diluted EPS Before Special Items1

 

$

0.17

 

 

$

(0.05

)

 

NM

 

 

NM

 

 

 

$

1.28

 

 

$

0.92

 

 

 

39

%

 

 

48

%

 

 

1 See Reconciliation of Reported Results to Non-GAAP Measures included in the accompanying tables of this release for further details.

Note:  All comparisons are versus the same period a year ago.  

Consistent with prior years, Yum China’s fiscal fourth quarter includes September, October, November and December results.

Yum China Holdings, Inc.. •  Shanghai, China •  Website http://ir.yumchina.com


The following information was filed by Yum China Holdings, Inc. (YUMC) on Tuesday, February 7, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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