Parkson Retail Asia Limited · SGX:O9E
Parkson Retail Asia — Q3 FY2013 Earnings Presentation
22 slides from Parkson Retail Asia's earnings presentation, May 9, 2013
Slide 1: Financial Results Presentation 9 Months Ended 31 March 2013 (Q3 FY2013)
Financial Results Presentation 9 Months Ended 31 March 2013 (Q3 FY2013) 9 May 2013
Slide 2: Contents
Contents 1. Overview 2. Financial Statements i) Consolidated income statement ii) Consolidated statement of financial position iii) Consolidated statement of cash flows iv) Segment results 3. Operational Highlights i) Floor area ii) Gross sales proceeds, revenue and SSS growth iii) Merchandise sales
Slide 3: Overview
Overview 3
Slide 4: Overview
Overview Group Reported Reported Adjusted Like for Like Com parable* Quarter ended 9 m onths ended 9 m onths ended 31.03.2013 31.03.2012 +/(-) 31.03.2013 31.03.2012 +/(-) 31.03.2013 31.03.2012 +/(-) S$'000 S$'000 % S$'000 S$'000 % S$'000 S$'000 % Gross Sales Proceeds 280,342 260,430 7.6 860,285 811,
Slide 5: Lunar new year shift benefitted Group sales for Q3 FY2013
The shift in the lunar new year calendar has benefitted Group sales for Q3 FY2013, especially for the Malaysia and Vietnam markets. Group reported PBT increased by 4.6% YoY to S$14.0 million for Q3 FY2013. Group reported PBT for YTD 9 months FY2013, however, declined by (5.3)% to S$49.3 millio
Slide 6: PBT for Malaysia increased by 0.9% for Q3 FY2013 contributed by higher SSS
Group Quarter ended 9 months ended 31.03.2013 31.03.2012 +/(-) 31.03.2013 31.03.2012 +/(-) PBT Summary S$'000 S$'000 % S$'000 S$'000 % Malaysia 13,067 12,947 0.9 45,497 46,339 (1.8) Indonesia 1,243 970 28.1 5,217 4,413 18.2 Vietnam 1,415 1,046 35.3 3,510 5,452 (35.6) Share of profit of an associate
Slide 7: Financial Statements
Financial Statements 7
Slide 8: Unaudited consolidated Income Statement
Unaudited consolidated Income Statement For the nine months ended 31 March Group Reported Reported (S$'000) Quarter ended YTD 9 months ended 31.03.2013 31.03.2012 +/(-) 31.03.2013 31.03.2012 +/(-) S$'000 S$'000 % S$'000 S$'000 % Gross Sales Proceeds 280,342 260,430 7.6 860,285 811,315 6.0 - Direct s
Slide 9: Unaudited consolidated Statement of Financial Position
Unaudited consolidated Statement of Financial Position (S$’000) As at As at % As at % 31 Mar 2013 30 Jun 2012 Change 31 Mar 2012 Change (a) (b) (a)-(b) / (b) (c) (a)-(c) / (c) Total Assets 439,956 416,624 +5.6% 409,660 +7.4% - Non-current assets 163,258 135,020 +20.9% 128,831 +26.7% - Current assets
Slide 10: Unaudited consolidated Statement of Cash Flows
Unaudited consolidated Statement of Cash Flows For nine months ended 31 March (S$’000) YTD YTD Q3 Q3 +/(-) 9 months 9 months +/(-) FY2013 FY2012 % FY2013 FY2012 % Net cash generated from/(used in) operating (26,906) (27,010) -0.4% 51,340 46,695 +9.9% activities Net cash used in investing activities
Slide 11: Segment results
Segment results For nine months ended 31 March Group Malaysia Vietnam Indonesia Unallocated Total S$'000 S$'000 S$'000 S$'000 S$'000 9 months ended 31.03.2013 Gross Sales Proceeds 633,680 124,176 102,429 - 860,285 Revenue 269,959 36,521 38,500 - 344,980 Profit before tax 45,497 3,510 5,217 - 54,224
Slide 12: Operational Highlights
Operational Highlights 12
Slide 13: Floor Area
Floor Area No. of Approx. GFA Approx. selling area stores (sq.m) (sq.m) Malaysia - Leased properties 39 423K 359K Vietnam - Leased properties 4 83K 76K - Owned properties 1 23K 23K - Managed properties 3 51K 51K ----- ------- ------- 8 157K 150K ----- ------- ------- Indonesia - Leased properties 9
Slide 14: Gross Sales Proceeds, Revenue and SSS Growth
Gross Sales Proceeds, Revenue and SSS Growth Continuous overall top line growth S$’000 SSS Growth Q3 FY2013 YTD 9 months FY2013 Malaysia 8.6% 5.6% Vietnam 9.9% (1.3)% 1,063,713 Indonesia 1.2% 4.9% 868,910 860,285 811,315 781,641 672,230 442,276 367,314 332,959 332,061 344,980 301,229 FY2009 FY2010 F
Slide 15: Merchandise Sales Mix
Merchandise Sales Mix YTD Q3 FY2013 ended 31 Mar 2013 YTD Q3 FY2012 20.1% ended 31 Mar 2012 79.9% 20.7% 79.3% Direct sales Concessionaire Sales Direct sales Concessionaire Sales 15
Slide 16: Merchandise sales mostly from fashion and cosmetics segments
Merchandise sales mostly from fashion and cosmetics segments YTD Q3 FY2013 Household, Groceries and electrical goods perishables and others 3.5% 14.3% YTD Q3 FY2012 Household, Groceries and electrical goods perishables and others 2.9% 14.1% Cosmetics and Fashion and accessories apparel 27.1% 55.1% 8
Slide 17: Blended gross margins
Blended gross margins Merchandise gross margin (including both direct sales and concessionaire sales) 23.6% 24.1% 23.9% 23.2% 23.3% 23.4% 252 198 200 192 178 156 FY2009 FY2010 FY2011 FY2012 YTD Q3 FY2012 YTD Q3 FY2013 Merchandise gross profit (S$m) Merchandise gross margin (%) 17
Slide 18: Profit margins
Profit margins EBITDA(1) Net profit attributable to Owners of the Company 22.00% 14.00% S$m S$m 18.7% 20.00% 12.00% 17.0% 17.3% 17.3% 18.00% 11.0% 10.3% 10.0% 76 16.00% 9.5% 10.00% 13.4% 45 14.00% 62 62 60 8.00% 12.00% 37 9.7% 6.4% 35 35 10.00% 6.00% 45 8.00% 3.8% 6.00% 21 4.00% 29 4.00% 11 2.00% 2.
Slide 19: Going Forward
Going Forward 19
Slide 20: Strategies
Strategies • Improving productivity and enhancing market share. • Target a healthy SSS growth through more targeted promotional activities and improving productivity of the floor space. • Continue to increase operating area by opening new stores, with 15 new stores confirmed for FY2013 and FY2014. •
Slide 21: Expansion Plan (confirmed sites)
Expansion Plan (confirmed sites) Location FY2013 FY2014 Approx. GFA Approx. GFA (sq.m) (sq.m) Malaysia 1. Plaza Merdeka, Kuching (opened Nov 2012) 12,554 1. Nu Sentral, Kuala Lumpur 12,833 2. Paya Bungah, Kuala Terengganu 9,796 2. Aman Central, Alor Setar 12,720 22,350 25,553 Vietnam 3. Parkson Cant
Slide 22: THANK YOU
THANK YOU Disclaimer This presentation is to provide general background information of Parkson Retail Asia Limited (the “Company”). The information provided is in summary form and no representation or warranty, express or implied is made and no reliance should be placed on the fairness and complet
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