Meituan's Q4 revenue up 35% year-on-year to $5.8 billion

March 26, 2021 CV TECH INC

Meituan, a Chinese shopping platform for locally found consumer products, reported revenue of 37.92 billion yuan ($5.8 billion) in the fourth quarter of last year, up 34.7 percent from a year earlier, according to the company’s earnings report released Friday.


The company reported an adjusted loss of 1.44 billion yuan in the fourth quarter of 2020, compared with a profit of 2.27 billion yuan in the same period of 2019.


Meituan’s food and beverage takeaway business transacted RMB 156.3 billion in the fourth quarter of 2020, up 39.4 percent year-on-year.


The average daily number of food and beverage takeaway transactions was 36.2 million, an increase of 33% year-on-year. The average value of each food and beverage takeaway order was RMB 46.9, up 4.8% year-on-year.


In the fourth quarter of 2020, Meituan’s hotel and travel business generated revenue of RMB7.1 billion, an increase of 12.2% year-on-year.


Operating profit from the hotel and travel business increased to RMB2.8 billion from RMB2.3 billion in the fourth quarter of 2019, and the operating margin increased to 39.5% from 36.7%.


For the full year of 2020, Meituan’s food and beverage takeaway business transacted RMB 488.9 billion, an increase of 24.5% year-on-year.


The average daily transaction of food and beverage takeaway was 27.7 million, up 16.0% year-on-year. The average value of each catering takeaway order is RMB48.2, an increase of 7.0% year-on-year.


For the full year of 2020, revenue from Meituan’s hotel and travel business were RMB21.3 billion, a decrease of 4.6% year-on-year.


Operating profit from the hotel and travel business decreased from RMB8.4 billion in 2019 to RMB8.2 billion in 2020, and the operating margin increased from 37.7% to 38.5%.


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Meituan's Q4 revenue up 35% year-on-year to $5.8 billion-CnTechPost


Meituan's Q4 revenue up 35% year-on-year to $5.8 billion-CnTechPost