Exhibit 99.1

 

Yum China Reports Second Quarter 2018 Results

Shanghai, China (August 2, 2018) – Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE: YUMC) today reported unaudited results for the second quarter ended June 30, 2018. Reported GAAP results include Special Items, which are excluded from adjusted measures.  Special Items are not allocated to any segment and therefore only impact reported GAAP results of Yum China.  See “Reconciliation of Reported GAAP Results to Adjusted Measures” within this release.

Second Quarter Highlights

 

Total revenues increased 12% year over year to $2.1 billion from $1.8 billion (5% year over year increase excluding foreign currency translation (“F/X”)).

 

Total system sales grew 3% year over year, with 5% growth at KFC partially offset by 1% decline at Pizza Hut, excluding F/X.

 

Same-store sales declined 1% year over year, with flat same-store sales at KFC and a 4% decrease at Pizza Hut, excluding F/X.

 

Restaurant margin was 15.1%, as compared with 16.6% in the prior year period.

 

Operating Profit increased 13% year over year to $193 million from $171 million (5% year over year increase excluding F/X).

 

Net Income increased 14% to $143 million from $125 million in the prior year period (6% year over year increase excluding F/X).

 

Effective tax rate was 26.0%.

 

Diluted EPS was $0.36, as compared with $0.31 in the prior year period.

 

Repurchased approximately 1.9 million shares for $73.4 million at an average price of $38.41 per share.

 

Opened 164 new restaurants during the quarter, bringing total store count to 8,198 across more than 1,200 cities.

Digital and Delivery

 

As of June 30, 2018, the KFC loyalty program had more than 135 million members and the Pizza Hut loyalty program had over 45 million members, an increase of 50 million and 20 million, respectively, year over year.

 

Mobile payments accounted for approximately 63% of Company sales in the quarter, an increase of 21 percentage points year over year.

 

Delivery contributed to 16% of Company sales in the second quarter of 2018, an increase of 3 percentage points year over year. Delivery services now available in over 1,000 cities, up from 800 cities in the prior year period.


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


The following information was filed by Yum China Holdings, Inc. (YUMC) on Wednesday, August 1, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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