Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — Q2 2022 Earnings Presentation
26 slides from Robinsons Retail's earnings presentation, Aug 4, 2022
Slide 1: Second Quarter 2022 Unaudited Earnings Results
Second Quarter 2022 Unaudited Earnings Results August 4, 2022
Slide 2: Agenda
01 Performance Highlights 02 Omnichannel Presence Agenda 03 Consolidated Results 04 Business Segments 05 Recent Developments
Slide 3: Second Quarter 2022 Performance Highlights
Second Quarter 2022 Performance Highlights Consolidated E-commerce Net sales Blended SSSG Sales share to ₱42.9bn 15.5% To t a l S a l e s 19.8% 3.1% Gross margin E B I T DA ma rg i n Net income att. to parent 2,235 stores plus 23.8% 8.9% ₱1.6bn 2,082 TGP branches 110bps 90bps 115.1% nationwide 3
Slide 4: Omnichannel Presence
Omnichannel Presence Total of 2,235 stores plus 2,082 TGP Branches GoCart serves as an Metro Luzon Visayas Mindanao Total online store for 14 of Manila our banners. Supermarkets 129 119 36 16 300 Drugstores1 124 385 287 142 938 South Star Drug, Rose DIY Stores Pharmacy, Robinsons 66 90 43 24 223 App
Slide 5: RRHI Consolidated Results
RRHI Consolidated Results Net sales surpassed 2Q21 2Q22 1H21 1H22 2Q∆ 1H∆ pre-pandemic levels Supermarkets 21.1 24.3 42.2 46.7 15.2% 10.8% 7.7% 6.7% Drugstores 6.3 6.9 12.2 14.0 9.4% 14.2% 2Q22 vs 2Q19 1H22 vs 1H19 DIY stores 2.7 3.1 5.6 6.0 14.5% 7.2% 8.2% Department 3.4% 1.7 3.5 3.6 6.1 108.8% 68.
Slide 6: RRHI Consolidated Results
RRHI Consolidated Results In ₱ mn 2Q21 2Q22 1H21 1H22 2Q∆ 1H∆ Net Income to parent above Net Sales 35,832 42, 944 71,448 82,367 19.8% 15.3% pre-pandemic levels SSSG (3.4%) 15.5% (10.2) 10.2% Gross Profit 8,155 10,233 16,319 19,318 25.5% 18.4% 44.7 % 59.8 % Gross Margin 22.8% 23.8% 22.8% 23.5% EBITDA
Slide 7: Supermarket Segment
Supermarket Segment Has a total of 300 stores Net sales (₱ mm) Same Store Sales Growth Robinsons ∆+10.8% 145 Supermarket 46,711 Robinsons 42,167 9.4% 91 ∆+15.2% 4.5% Easymart 21,057 24,264 16 Shopwise The 35 Marketplace (14.4%) (14.5%) 2Q2021 2Q2022 1H2021 1H2022 13 No Brand 2Q2021 2Q2022 1H2021 1H2
Slide 8: Drugstore Segment
Drugstore Segment Has a total of 938 Net sales (₱ mm) Same Store Sales Growth (1) owned & 2,082 franchised stores ∆+14.2% 9.0% Southstar 13,994 ∆+9.4% 12,250 3.7% 592 Drug 1.4% 6,905 Rose 6,312 346 Pharmacy (9.5%) 2,082 TGP 2Q2021 2Q2022 1H2021 1H2022 2Q2021 2Q2022 1H2021 1H2022 E-commerce Gross Pro
Slide 9: DIY Segment
DIY Segment Net sales (₱ mm) Same Store Sales Growth Has a total of ∆+7.2% 223 stores 5,633 6,037 43.8% ∆+14.5% 181 Handyman 2,714 3,109 15.5% 15.5% 31 True Value 7.4% Robinsons 11 Builders 2Q2021 2Q2022 1H2021 1H2022 2Q2021 2Q2022 1H2021 1H2022 E-commerce Gross Profit (₱ mm) EBITDA(₱ mm) as % of To
Slide 10: Department Store Segment
Department Store Segment Net sales (₱ mm) Same Store Sales Growth ∆+68.9% 6,065 94.5% Has a total of 77.1% ∆+108.8% 55.9% 50 stores 3,508 3,591 1,680 E-commerce (2.0%) as % of Total Sales 2Q2021 2Q2022 1H2021 1H2022 2Q2021 2Q2022 1H2021 1H2022 Gross Profit (₱ mm) EBITDA(₱ mm) ∆+73.1% 1,849 ∆+831.4%
Slide 11: Convenience Store Segment
Convenience Store Segment Net sales (₱ mm) Same Store Sales Growth Has a total of ∆+16.5% 443 stores 2,835 34.6% ∆+27.3% 2,434 93 Franchised 19.3% 1,561 1.7% 1,226 350 Direct (19.9%) 2Q2021 2Q2022 1H2021 1H2022 2Q2021 2Q2022 1H2021 1H2022 E-commerce as % of System-wide Sales Gross Profit (₱ mm) EBIT
Slide 12: Specialty Segment
Specialty Segment Net sales (₱ mm) Same Store Sales Growth Has a total of ∆+25.2% 281 stores 6,724 22.5% 24.1% 22.7% 118 Appliances & Electronics ∆+26.5% 5,373 40 Toys 3,596 2,842 107 Mass Merchandise 2.4% 11 Beauty 5 Pet Retail 2Q2021 2Q2022 1H2021 1H2022 2Q2021 2Q2022 1H2021 1H2022 E-commerce Gros
Slide 13: Working Capital
Working Capital Cash Conversion 1H21 1H22 Cycle 5.8 5.9 23.2 Receivable Days 14.2 75.2 Inventory Days 74.2 Payable 65.8 Days 57.8 1H21 1H22 13
Slide 14: Balance Sheet Accounts
Balance Sheet Accounts Jun 30, 2021 Jun 30, 2022 In ₱ mn (Unaudited) (Unaudited) Cash & Cash Equivalents 15,403 13,146 Investment in Debt & Equity Securities 10,416 9,461 Total Assets 130,126 131,423 Total Debt 5,309 7,704 Total Equity 74,763 73,941 Return on Assets (rolling 12-months) 2.5% 4.3% Ret
Slide 15: Capital Expenditures
Capital Expenditures 1H21 1H22 Supermarkets 55% 72% Drugstores 15% 10% DIY stores 8% 4% Department stores 12% 7% Convenience stores 4% 1% Specialty stores 6% 5% TOTAL CAPEX (₱ mn) 898 1,743 15
Slide 16: Shopwise Reinvention
Shopwise Reinvention + 38% ADS growth 16
Slide 17: Southstar Drug First Drive-Thru Store Opening
Southstar Drug First Drive-Thru Store Opening 40% of Store Sales 17
Slide 18: Entry into Quick Commerce
Entry into Quick Commerce • Dart is a Quick Commerce business with the promise of delivery of groceries within 15 minutes of ordering by using dark stores. It currently serves the cities of Makati and Mandaluyong. • Robinsons Supermarket is its primary supplier. • It follows the business model of Go
Slide 19: Southstar Drug Health Fair
Southstar Drug Health Fair 19
Slide 20: World Hunger Day Campaign
World Hunger Day Campaign 66 schoolchildren guaranteed meals for a year 20
Slide 21: Election of Mr. Cesar G. Romero as Independent Director
Election of Mr. Cesar G. Romero as Independent Director • President and Chief Executive Officer: Pilipinas Shell Petroleum Corporation from November 2016 to November 2021. • Various Roles in Shell Group of Companies: VP- Global Retail Network from 2013-2018; VP of Retail Sales & Operations East Sing
Slide 22: Plans and Prospects for 2022
Net store Organic CAPEX additions of of SSSG target 100-150 P4.0-6.0bn of 5%-10% Plans and Prospects for 2022 20bps-50bps 2%-4% gain in gross ecommerce margins contribution 22
Slide 23: Thank you.
Thank you.
Slide 24: Income Statement
Income Statement Three Months Ended Six Months Ended June 30 June 30 2022 2021 2022 2021 PHP mm (Unaudited) (Unaudited) (Unaudited) (Unaudited) Sales - net of sales discounts and returns 42,944 35,832 82,367 71,448 Cost of merchandise sold 32,711 27,677 63,049 55,129 Gross Profit 10,233 8,155 19,318
Slide 25: Balance Sheet
Balance Sheet PHP mm June 30, 2022 December 31, 2021 (Unaudited) (Audited) Current Assets Cash and cash equivalents 13,146 16,170 Trade and other receivables 2,676 2,667 Merchandise inventories 26,199 25,090 Other current assets 2,648 2,989 Total Current Assets 44,669 46,916 Noncurrent assets Debt a
Slide 26: Cash Flow
Cash Flow December 31 June 30 (Unaudited) (Audited) PHP mm 2021 2021 2022 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 5,269 1,817 3,589 Depreciation and amortization 7,088 3,391 3,565 Retirement expense 284 126 100 Others 121 526 258 Operating income before working capital changes
Robinsons Retail Holdings — Q2 2022 Earnings Presentation on 6ix