Cosco Capital, Inc. · PSE:COSCO
Cosco Capital — FY2020 Earnings Presentation
17 slides from Cosco Capital's earnings presentation, May 2021
Slide 1: Cosco Capital, Inc. FY 2020 Financial Results
Cosco Capital, Inc. FY 2020 Financial Results Investor Presentation 1
Slide 2: Disclaimer
Disclaimer These presentations and/or other documents have been written and presented by COSCO CAPITAL, INC. (COSCO). COSCO is solely responsible for the accuracy and completeness of the contents of such presentations and/or other documents. Third parties, other than COSCO, do not have any responsib
Slide 3: Company Overview
Company Overview Lucio Co Family Public 76% 24% 49% 100% 100% 100% Commercial Real Grocery Retailing Liquor Distribution Specialty Retailing Estate • Ellimac Prime Holdings, Inc., • Fertuna Holdings Corp., • Patagonia Holdings Corp., • Nation Realty, Inc. • NE Pacific Shopping Centers Corporation •
Slide 4: Revenue & Net Income Contribution FY 2020
Revenue & Net Income Contribution FY 2020 Revenues CORE PATMI Specialty Retail 0.9% Liquor Grocery Real Estate 13% Distribution Retailing 66% 3.4% Real Estate 0.6% Liquor Distribution 20% Grocery Retailing 95.1% Specialty Retail 1% PHP 177.32 billion PHP 5.90 billion 4
Slide 5: FY 2020 Consolidated Financial Performance
FY 2020 CONSOLIDATED FINANCIAL PERFORMANCE INCREASE (In Thousands) FY2020 % FY2019 %0 (DECREASE) %2 REVENUES 177,316,299 100.00% 166,066,712 100.00% 11,249,586 6.77% COST OF SALES/SERVICES 145,021,136 81.79% 136,177,666 82.00% 8,843,470 6.49% GROSS PROFIT 32,295,163 18.21% 29,889,046 18.00% 2,406,11
Slide 6: Grocery Retail Segment: FY 2020 Financial Highlights
Grocery Retail Segment: FY 2020 Financial Highlights (In PHP millions) Revenues Gross Profit and Margin +9.2% +12.4% 168,632 29,156 23,929 25,951 17.3% 154,490 141,140 17.0% 16.8% FY2018 FY2019 FY2020 FY2018 FY2019 FY2020 GP GP Margin EBITDA and Margin Net Profit and Margin +16.3% +19.1% 17,680 8,06
Slide 7: Grocery Retailing: Operational Highlights
Grocery Retailing: Operational Highlights • Puregold opened 30 new stores out of targeted 25 new stores; closed 7 stores • S&R opened 2 new S&R warehouse and 8 new S&R QSR • As of FY 2020, the Grocery Retailing segment is operating a total of 469 stores • SSSG PGOLD only is at 2.4% while S&R is at 8
Slide 8: Liquor Distribution: Products
Liquor Distribution: Products Brandy Brandy Tequila Alfonso Fundador Jose Cuervo Alfonso Light Fundador Light Whiskey Excelente Bushmills Whiskey Chivas Regal Tequila Jim Beam Patron Glenfiddich Cognac Martel Whiskey Vodka Johnnie Walker Absolut Jack Daniels Liqueurs Jagermeister Various Wines Speci
Slide 9: Liquor Distribution: FY 2020 Financial Highlights
Liquor Distribution: FY 2020 Financial Highlights (In PHP millions) Revenues Gross Profit and Margin -23.8% -9.1% 10,717 2,458 2,235 8,747 8,167 1,874 27.4% 21.4% 22.9% FY2018 FY2019 FY2020 FY2018 FY2019 FY2020 GP GP Margin EBITDA and Margin Net Profit and Margin -1.2% -2.7% 1,712 1,691 1,212 1,800
Slide 10: Liquor Distribution: Total Volume Sales
Liquor Distribution: Total Volume Sales • 17% decline in total volume of cases sold in FY 2020 • Decline driven by the government imposed Liquor Ban during COVID-19 Quarantine CATEGORY 2018 2019 2020 Inc/Dec Growth Brandy 1,928,918 2,997,940 2,488,760 (509,180) -17% Other Spirits 472,098 626,231 554
Slide 11: Group Operational Highlights
Group Operational Highlights REAL ESTATE 53% of tenants portfolio are essential industries allowed to continue business operations during the community quarantines and lockdowns 47% of tenants portfolio – directly affected by the mall closures and community quarantines Rental reliefs extended
Slide 12: Real Estate Segment: FY2020 Financial Highlights
Real Estate Segment: FY2020 Financial Highlights (In PHP millions) Revenues Gross Profit and Margin 2,147 -21.0% -27.0% 2,031 1,403 1,486 1,696 1,085 69.1% 69.2% 64.0% FY2018 FY2019 FY2020 FY2018 FY2019 FY2020 GP GP Margin EBITDA and Margin Net Profit and Margin -26.3% -42.9% 1,225 1,527 1,576 1,086
Slide 13: Office Warehouse: FY 2020 Financial Highlights
Office Warehouse: FY 2020 Financial Highlights (In PHP millions) Revenues Gross Profit and Margin 2,451 -31.8% -30.1% 2,089 642 567 1,672 449 27.1% 26.2% 26.8% FY2018 FY2019 FY2020 FY2018 FY2019 FY2020 GP GP Margin EBITDA and Margin Net Profit and Margin -22.4% 97 -42.5% 251 199 195 66 56 11.7% 3.3%
Slide 14: Office Warehouse: Operational Highlights
Office Warehouse: Operational Highlights OFFICE WAREHOUSE, INC. • Opened 3 stores and closed down 3 store in FY 2020 • SSSG of -32.19% in 2020 vs +12.2% in 2019 due to government lockdown and community quarantine starting March 16, 2020 2016 2017 2018 2019 2020 No. Stores 71 82 88 89 89 Net selling
Slide 15: CAPEX Guidance for 2020
CAPEX Guidance for 2020 • CAPEX Budget of Php 3.6 billion in 2020 - Php 3.4 billion for Puregold Group - Php 150 million for Real Estate Group - Php 50 million for Office Warehouse • To be funded by internally generated cash and short term untapped bank credit lines if necessary 15
Slide 16: Summary
SUMMARY Macro-economic fundamentals and economic stimulus in place conducive to economic recovery Resilient diversified structure and financial performance Grocery retail segment driving the group’s top-line and bottom-line growths cushioning the declines experienced by the other business segm
Slide 17: Thank you.
Thank you. www.coscocapital.com