Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — Q4 2020 Earnings Presentation
28 slides from Robinsons Retail's earnings presentation, Feb 26, 2021
Slide 1: Robinsons Retail Holdings 2020 Audited Earnings Results
ROBINSONS IA RETAIL HOLDINGS, INC. 2020 AUDITED EARNINGS RESULTS April 2021 SOBTeOOBA
Slide 2: Agenda
AGENDA Financial Highlights Consolidated Results Store Network Business Segments Recent Developments Plans & Prospects
Slide 3: Financial Highlights
FINANCIAL HIGHLIGHTS -7.3% shortfall in consolidated 2,157 net sales stores plus GP margin 2,025 TGP at 21.8% branches of sales nationwide EBITDA Blended margin SSSG of at 8.5% -8.9% Net of sales Online income sales grew attributable 3x YoY to parent co at ₱3.2bn
Slide 4: Omnichannel Presence
OMNICHANNEL PRESENCE Total of 2,157 stores Own E-commerce sites plus 2,025 TGP branches with gross floor area of 1.48 million sqm1 Metro Luzon Visayas Mindanao Manila Supermarkets 111 101 36 16 Department Stores 11 19 10 9 DIY Stores 69 88 44 24 Convenience 298 152 22 - Third party platforms Stores
Slide 5: 2020 Consolidated Results
2020 CONSOLIDATED RESULTS 4Q19 4Q20 2019 2020 Supermarkets 24.8 23.6 88.5 94.1 62.3% 5.6% Department Net Sales 7.5% 6.1 3.4 18.0 8.5 stores Breakdown 3.2% DIY stores 4.0 3.7 14.4 11.4 12.6% Convenience 1.8 1.4 6.7 4.8 8.8% stores Drugstores 4.7 5.4 17.7 19.1 Same Store Sales Growth Specialty 5.9 4.1
Slide 6: E-commerce to Total Sales
E-COMMERCE TO TOTAL SALES RRHI E-commerce sales grew 3x year-on-year, including the sale of third party platform in 2020. 1.5% 1.4% 1.1% 1.2% 0.4% 0.2% 1Q2020 2Q2020 3Q2020 4Q2020 2019 2020 Note: Includes sales from call & collect/delivery service 6
Slide 7: Consolidated Results
CONSOLIDATED RESULTS in ₱ mm 4Q20191 4Q2020 2019 2020 4Q ∆ FY ∆ Net Sales 46,757 41,494 162,916 151,070 (11.3%) (7.3%) Same Store Sales Growth 3.5% (15.6%) 3.4% (8.9%) - - Gross Profit 10,491 9,300 37,181 32,898 (11.4%) (11.5%) Gross Margin (%) 22.4% 22.4% 22.8% 21.8% - - EBITDA2 4,226 3,423 14,678
Slide 8: Supermarket Segment
SUPERMARKET SEGMENT in ₱ mm 4Q20191 4Q2020 2019 2020 4Q ∆ FY ∆ Net Sales 24,794 23,627 88,515 94,121 (4.7%) 6.3% Same Store Sales Growth 4.0% (2.3%) 3.6% 7.7% - - Gross Profit 5,239 5,244 18,612 19,625 0.1% 5.4% Gross Margin (%) 21.1% 22.2% 21.0% 20.9% - - EBITDA2 2,144 1,957 6,897 7,820 (8.7%) 13.4
Slide 9: Department Store Segment
DEPARTMENT STORE SEGMENT in ₱ mm 4Q20191 4Q2020 2019 2020 4Q ∆ FY ∆ Net Sales 6,122 3,354 18,040 8,451 (45.2%) (53.2%) Same Store Sales Growth 4.7% (45.6%) 1.0% (52.0%) - - Gross Profit 1,702 916 4,989 2,499 (46.2%) (49.9%) Gross Margin (%) 27.8% 27.3% 27.7% 29.6% - - EBITDA2 519 178 1,330 282 (65.7
Slide 10: DIY Segment
DIY SEGMENT in ₱ mm 4Q20191 4Q2020 2019 2020 4Q ∆ FY ∆ Net Sales 4,010 3,651 14,383 11,358 (8.9%) (21.0%) Same Store Sales Growth 2.3% (11.7%) 2.5% (23.4%) - - Gross Profit 1,233 1,063 4,675 3,689 (13.8%) (21.1%) Gross Margin (%) 30.8% 29.1% 32.5% 32.5% - - EBITDA2 613 532 2,339 1,772 (13.1%) (24.2%
Slide 11: Convenience Store Segment
CONVENIENCE STORE SEGMENT in ₱ mm 4Q20191 4Q2020 2019 2020 4Q ∆ FY ∆ Systemwide Sales 2,617 1,430 9,794 6,361 (45.4%) (35.1%) Net Sales 1,836 1,400 6,744 4,811 (23.7%) (28.7%) Same Store Sales Growth 5.0% (38.9%) 3.2% (31.8%) - - Gross Profit + Royalty Income 557 340 2,367 1,645 (38.9%) (30.5%) GP +
Slide 12: Drugstore Segment
DRUGSTORE SEGMENT in ₱ mm 4Q20191 4Q2020 2019 2020 4Q ∆ FY ∆ Net Sales 4,696 5,389 17,685 19,059 14.8% 7.8% Same Store Sales Growth 7.4% (10.4%) 9.9% (0.1%) - - Gross Profit 869 907 3,419 3,629 4.4% 6.2% Gross Margin (%) 18.5% 16.8% 19.3% 19.0% - - EBITDA2 386 383 1,657 1,770 (0.7%) 6.8% EBITDA marg
Slide 13: Specialty Store Segment
SPECIALTY STORE SEGMENT in ₱ mm 4Q20191 4Q2020 2019 2020 4Q ∆ FY ∆ Net Sales 5,897 4,073 19,283 13,271 (30.9%) (31.2%) Same Store Sales Growth (1.5%) (27.6%) 1.4% (28.0%) - - Gross Profit 1,413 807 4,966 2,734 (42.9%) (45.0%) Gross Margin (%) 24.0% 19.8% 25.8% 20.6% - - EBITDA2 500 261 1,925 852 (47
Slide 14: Working Capital
WORKING CAPITAL 2018 2019 2020 8.7 8.7 Receivable days 7.6 66.1 68.9 Inventory days 57.5 87.2 72.9 72.4 Payable days 4.1 Cash Conversion Cycle -12.4 -6.7 14
Slide 15: Capital Expenditures
CAPITAL EXPENDITURES In Php M 2018 2019 2020 Supermarkets 52% 44% 61% Department stores 14% 10% 9% DIY stores 10% 14% 7% Convenience stores 5% 14% 9% Drugstores 3% 4% 10% Specialty stores 16% 14% 4% TOTAL (₱ M) 4,419 3,346 1,868 % of net sales 3.3% 2.1% 1.2% 15
Slide 16: GrowSari: B2B Delivery
GROWSARI:B2B DELIVERY Gross Merchandise Value (GMV) 2021 Target GMV to increase 2x-3x (₱4bn to ₱6bn) 2016 2017 2018 2019 2020 Average monthly store count Number of sari- sari stores to increase 2x 2016 2017 2018 2019 2020 16
Slide 17: Data Analytics Ventures (DAVI)
DATA ANALYTICS VENTURES (DAVI) Effective acquisition programs : Rustan’s migration Robinsons Rewards Members Expanding to growth spaces : 3.35M Ecommerce and Essentials Total Member Data driven programs : Spend Precision Marketing ₱5.7B 17
Slide 18: First Virtual Townhall on Supply Chain and Sustainability
On November 11, 2020, we conducted our First Virtual Townhall on the Supply Chain and Sustainability. 18
Slide 19: Handyman and Herco typhoon rebuilding partnership
On December 11 and 12, 2020, Handyman partnered with Herco to help rebuild communities devastated by Typhoons Rolly and Ulysses. 19
Slide 20: Southstar Drug Outreach Programs
From November 11, 2020 to February 4, 2021, Southstar Drug’s Outreach Programs aided over 1,300 beneficiaries and 449 employees. 20
Slide 21: Donation to World Vision
Last February 5, 2021, Robinsons Supermarket and Shopwise handed over a combined donation of around ₱2.9 million to World Vision. 21
Slide 22: Plans and Prospects for 2021
PLANS AND PROSPECTS FOR 2021 Organic New store SSSG CAPEX of additions of target of Php3.0bn 80 to 120 flat to +3% to Php5.0bn flat to 20 bps Embedding gain in gross Sustainability margin 22
Slide 23: E-commerce Key Priorities
E-COMMERCE KEY PRIORITIES Onboard more business 2021 01 units in GoRobinsons E-COMMERCE SALES TARGET 2.0%-3.0% Activate more stores in 02 GoRobinsons and other of total sales third-party platforms Leverage Robinsons 03 Rewards Loyalty Base 23
Slide 24: Robinsons Retail
y ROBINSONS RETAIL
Slide 25: Income Statement
INCOME STATEMENT Three Months Ended Twelve Months Ended December 31 December 31 2020 2019 2020 2019 PHP mm (Audited) (Audited) (Audited) (Audited) Sales - net of sales discounts and returns 41,494 46,757 151,070 162,916 Cost of merchandise sold 32,194 36,266 118,172 125,735 Gross Profit 9,300 10,491
Slide 26: Balance Sheet
BALANCE SHEET December 31 December 31 (Audited) (Audited) PHP mm 2020 2019 Current Assets Cash and cash equivalents 21,338 20,293 Trade and other receivables 3,144 3,865 Merchandise inventories 22,234 19,810 Other current assets 2,656 2,951 Total Current Assets 49,373 46,920 Noncurrent assets Debt a
Slide 27: Cash Flow Statement
CASH FLOW STATEMENT December 31 December 31 (Audited) (Audited) PHP mm 2020 2019 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 4,419 6,110 Depreciation and amortization 6,987 6,880 Retirement expense 185 192 Others 411 1,475 Operating income before working capital changes 12,002 14,6
Slide 28: Disclaimer
DISCLAIMER This presentation contains certain forward looking statements with respect to the financial condition, results of operations and businesses of Robinsons Retail Holdings, Inc. (RRHI). Such forward looking statements involve known and unknown risks, uncertainties and other factors which may
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