Dfi Retail Group Holdings Limited · SGX:D01
Dfi Retail — FY2024 Earnings Presentation
28 slides from Dfi Retail's earnings presentation, Mar 11, 2025
Slide 1: DFI Retail Group 2024 Full Year Results Presentation
DFI Retail Group 2024 Full Year Results Presentation 11 March 2025
Slide 2: Disclaimer
Disclaimer This Document (the “Document”) is for information purposes only. This Document is not intended to form the basis of any investment decision nor does it constitute any recommendation or advice as to how the reader should, or should not, act on any matter. The information in this Document i
Slide 3: Agenda
Agenda 1. Key Highlights 2. Financial Results 3. Strategy & Business Updates 4. Business Outlook 3
Slide 4: Key Business Highlights
Key Business Highlights Macro backdrop • Northbound consumption sets a new level of playing field • Intensifying competition from Chinese digital players Steps taken to improve profitability in 2024 • Cost savings across formats and digital • Improving Own Brand margin and sales productivity Opportu
Slide 5: Agenda
Agenda 1. Key Highlights 2. Financial Results 3. Strategy & Business Updates 4. Business Outlook 5
Slide 6: Key Financial Highlights
Key Financial Highlights • Underlying profit of US$201m, up 30% year-on-year; reported profit impacted by one-offs • Subsidiaries sales -0.6% vs. 2023 excluding divestment and cigarette sales • Strong Health & Beauty performance despite challenging market conditions • Convenience delivered double-di
Slide 7: Revenue and Underlying Profit
Revenue and Underlying Profit FY 2024 (US$’ m) FY 2024 FY 2023 Change Change2 (restated)1 Total Revenue Including Associates & JVs 24,938 26,471 -6% 15,408 -2% Subsidiaries 8,869 9,170 -3% 8,847 -2% Subsidiaries Underlying Operating Profit (pre-IFRS16) 248 212 +17% 248 +15% Subsidiaries Underlying P
Slide 8: Non-trading items
Non-trading items (US$’ m) FY 2024 FY 2023 Impairment charge on interest in Robinsons Retail (231) - Impairment of goodwill in San Miu and Cambodia Food businesses (133) (110) Loss relating to divestment of Yonghui (114) - Change in fair value of equity and debt investments (33) (15) Business restru
Slide 9: Revenue Summary
Revenue Summary LFL (US$’ m) FY 2024 FY 2023 Change (restated)1 Health and Beauty 2,457 2,445 +1% 0% Convenience 2,379 2,441 -3% +2%1 Food 3,131 3,285 -5% -2% Home Furnishings 701 794 -12% -11% Total revenue2 8,869 9,170 -3% -1% Key Associates3 Maxim's 3,070 3,109 -1% Robinsons Retail 3,425 3,424 +0
Slide 10: Subsidiaries Operating Profit
Subsidiaries Operating Profit FY 20231 (US$’ m) FY 2024 FY 2023 Change2 Change %2 (restated) Health and Beauty 211 213 208 +3 +2% Convenience 102 88 88 +14 +17% Food 58 45 31 +27 +88% Home Furnishings 16 19 19 -3 -13% SG&A (139) (152) (134) -5 +5% Operating Profit (pre-IFRS16) 248 212 212 +36 +17% I
Slide 11: Cash Flow Statement
Cash Flow Statement (US$’ m) FY 2024 FY 2023 EBITDAR 1,181 1,121 Principal Elements of Lease Payments (642) (625) Interest Elements of Lease Payments (114) (96) ∆Working Capital (79) 45 Net Financing Costs (36) (49) Dividends Received 52 46 Other Operating Cash Flow (31) (23) Operating Cash Flow 331
Slide 12: Agenda
Agenda 1. Key Highlights 2. Financial Results 3. Strategy & Business Updates 4. Business Outlook 12
Slide 13: DFI Purpose Statement
DFI Purpose Statement A clear focus on the Committed to being a well-being of our people, steadfast pillar of each communities and community we serve, with environment care and quality of service Sustainably serve Asia for generations with everyday moments To be a lasting influence for the industry
Slide 14: DFI Strategic Framework
DFI Strategic Framework Customer First ✓ Competitive assortment & price Customer ✓ Local relevance First ✓ Strong digital proposition People Led ✓ Embedded values across Group People Led ✓ Empowering decisions close to customer ✓ Servant leadership Shareholder Shareholder Driven Driven ✓ Improving s
Slide 15: Customer First – Key Milestones in 2024
Customer First – Key Milestones in 2024 Leveraging data to drive Food margin improvement Own Brand reset driving improved margin Ramping data monetization programme to drive better promotion Launched Retail Media platform to drive incremental ad revenue Expanding yuu partnership; recognised as #1 br
Slide 16: People Led – Key Milestones in 2024
People Led – Key Milestones in 2024 Implemented organisational restructure to reduce overhead Decision making moved closer to customers through localisation Local leadership succession planning Reset training and development Relaunched incentive structure fully aligned to shareholder interests 16 16
Slide 17: Shareholder Driven – Key Milestones in 2024
Shareholder Driven – Key Milestones in 2024 Disciplined capex investment to support organic growth Improving capital efficiency with property monetisation Net debt of US$468m at Dec 2024; Net cash position at end Feb 2025 Total dividend declared of US¢10.5 per share in 2024, 31% growth Yonghui and H
Slide 18: Health and Beauty Update
Health and Beauty Update • Stable LFL despite significant reduction in tourist traffic and China stores closure • Profit remained stable on disciplined cost control • Guardian (SEA) LFL sales +4% driven by increased basket size and market share gain • Strong Indonesia performance driven by double-di
Slide 19: Convenience Update
Convenience Update • LFL sales growth of 2% excluding cigarettes • Profit up 17% year-over-year supported by close to 10% growth in Ready-to-Eat (‘RTE’) • RTE sales penetration reached 23% • Fragmented QSR market supports significant opportunity for RTE • New 7-Eleven app in Hong Kong with 30,000 da
Slide 20: Food Update
Food Update • Strong profit growth driven by improved sales mix and disciplined cost control • Total food retail sales in Hong Kong returned to growth in 4Q24 • Continued market share gain in Hong Kong with stable LFL sales • Singapore Food achieved profitability turnaround • Double-digit e-commerce
Slide 21: Home Furnishings Update
Home Furnishings Update • HK: Flight to value & competition from Chinese mainland digital platforms poses challenges • Taiwan: Continued resilience with over 10% PBIT margin • Indonesia: Focused on driving sales through increasing local sourcing • Good growth in e-commerce penetration to 14% of reve
Slide 22: Expanding Omnichannel Presence
Expanding Omnichannel Presence Direct distribution channels yuu Platform Third-party platforms Website Marketplace 1 App/ Mini Program Quick Commerce2 New launches in 2H24 New launches in 2H24 Total eCommerce daily order volume of c.58,000, up 31% YoY 1. Including new banners launched on the platfor
Slide 23: yuu Rewards and Monetisation
yuu Rewards and Monetisation yuu Rewards Retail Media Retail Analytics • 5.3m members and 3m monthly • Launched in 1Q24 with unique • Improving gross profit leveraging active users in Hong Kong online and offline advertising data analytics proposition • >1.8m members in Singapore • Completed 14 cate
Slide 24: DFI Retail Media – a Data Analytic Driven Solution
DFI Retail Media – a Data Analytic Driven Solution Empowering brands with scale, reach and proprietary data 5.3m yuu members and Precise targeting with Wide range of ad Improve return on ad 2K+ outlets1 in HK with first-party data inventories spending, highly active and Drive incremental sales engag
Slide 25: Agenda
Agenda 1. Key Highlights 2. Financial Results 3. Strategy & Business Updates 4. Business Outlook 25
Slide 26: Full-Year 2025 Outlook
Full-Year 2025 Outlook Subsidiaries Revenue Organic growth ~2% Underlying Profit US$230-270m1 Attributable to Shareholders Capex US$200-220m Ordinary dividend ~60% payout 1. On an organic basis 26 26
Slide 27: Q&A
Q&A 2024 Full Year Results Presentation
Slide 28: Thank you
Thank you If you have any queries, please email DFIinvestor@DFIretailgroup.com