Parkson Retail Asia Limited · SGX:O9E

Parkson Retail Asia — Q3 FY2016 Earnings Presentation

24 slides from Parkson Retail Asia's earnings presentation, May 12, 2016

  1. Slide 1: Financial Results Presentation Q3 FY2016

    Parkson Retail Asia Limited Financial Results Presentation Q3 FY2016 12 May 2016

  2. 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) Geographic footprint ii) Gross sales proceeds, revenue and SSS growth iii) Merchan

  3. Slide 3: Overview

    Overview 3

  4. Slide 4: Overview: Business Environment

    Overview Business Environment  Same Store Sales Growth, by countries: Quarter ended 9 months ended SSSG 31.03.2016 31.03.2015 31.03.2016 31.03.2015 Malaysia -17.4% +8.0% -13.5% -1.2% Vietnam -8.2% -2.1% -2.6% -4.5% Indonesia +0.1% +6.9% +3.8% +7.1% Myanmar -7.6% +12.7% -2.6% +24.2%  SSSG for Malay

  5. Slide 5: SSSG for Myanmar

     SSSG for Myanmar : - decline in SSSG at -7.6% for the reported quarter. - there are plans to close FMI Centre for re-development, however, the landlord has not confirm on the timing. 5

  6. Slide 6: Financial Summary

    Financial Summary Group Quarter ended 9 months ended 31.03.2016 31.03.2015 +/(-) 31.03.2016 31.03.2015 +/(-) S$'000 S$'000 % S$'000 S$'000 % Gross Sales Proceeds 245,323 295,924 (17.1) 735,599 866,180 (15.1) Revenue 98,415 116,578 (15.6) 294,557 344,088 (14.4) Profit / (Loss) Before Tax (7,470) 12,1

  7. Slide 7: Segmental Profit Before Tax

    Segmental Profit Before Tax Group 9 months ended PBT Summary 31.03.2016 31.03.2015 +/(-) S$'000 S$'000 % Like-for-like, on same store basis Malaysia 19,222 33,635 (42.9) Vietnam (4,855) 4,347 >(100.0) Indonesia (3,155) (2,364) (33.5) Myanmar (916) (416) >(100.0) Share of profits of an associate (Sri

  8. Slide 8: Prospect Statement

    Prospect Statement The Group’s performance for the next reporting quarter Q4 FY2016 will continue to face challenges, especially for the Malaysia operations. Results for the Malaysia operations in the final quarter are expected to remain lackluster due to drag from the performance of new stores and

  9. Slide 9: Financial Statements

    Financial Statements — ren 3 “a oe = a i , 2a J eae & drome :

  10. Slide 10: Unaudited Consolidated Income Statement

    Unaudited consolidated Income Statement For the nine months ended 31 March Group (S$'000) Quarter ended 9 months ended 31.03.2016 31.03.2015 +/(-) 31.03.2016 31.03.2015 +/(-) S$'000 S$'000 % S$'000 S$'000 % Gross Sales Proceeds 245,323 295,924 (17.1) 735,599 866,180 (15.1) - Direct sales 47,528 55,7

  11. Slide 11: Unaudited Consolidated Statement of Financial Position

    Unaudited consolidated Statement of Financial Position (S$’000) As at As at % Change As at % Change 31 Mar 2016 30 Jun 2015 (a)-(b) / (b) 31 Mar 2015 (a)-(c) / (c) (a) (b) (c) Total Assets 378,673 374,407 +1.1% 416,933 -9.2% - Non-current assets 191,583 148,393 +29.1% 161,167 +18.9% - Current assets

  12. Slide 12: 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 +/(-) FY2016 FY2015 % FY2016 FY2015 % Net cash generated from / (used in) operating activities (16,525) 11,946 >(100.0) 19,791 70,242 (71.8) Net cash used in investing activit

  13. Slide 13: Segment results

    Segment results For nine months ended 31 March Group Malaysia Vietnam Indonesia Myanmar Unallocated Total S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 9 months ended 31.03.2016 Gross Sales Proceeds 502,022 102,106 127,844 3,627 - 735,599 Revenue 221,348 26,112 45,723 1,374 - 294,557 Profit / (Loss) bef

  14. Slide 14: Operational Highlights

    Operational Highlights 14

  15. Slide 15: Geographic footprint

    Geographic footprint (department stores) Vietnam Malaysia  Number of stores: 9  Number of stores: 45  Approx. GFA (leased): 80,000 sqm  Approx. GFA (leased): 524,000 sqm  Approx. GFA (owned): 23,000 sqm Indonesia  Approx. GFA (managed): 51,000 sqm  Number of stores: 16  Approx. GFA (leased):

  16. Slide 16: Gross Sales Proceeds, Revenue and SSS Growth

    SSSG Q3 YTD Q3 Gross Sales Proceeds, Revenue and SSS Growth FY2016 FY2015 Malaysia -17.4% -13.5% Overall top line growth (S$ million) Vietnam -8.2% -2.6% Indonesia +0.1% +3.8% Myanmar -7.6% -2.6% 1,200 1,109 1,055 1,078 1,077 1,000 869 866 800 736 600 433 447 432 429 400 367 344 295 200 - FY2011 FY2

  17. Slide 17: Merchandise Sales Mix

    Merchandise Sales Mix YTD Q3 FY2016 19.5% YTD Q3 FY2015 80.5% 19.1% Direct sales Concessionaire sales 80.9% Direct sales Concessionaire sales 17

  18. Slide 18: Merchandise sales mostly from fashion and cosmetics segments

    Merchandise sales mostly from fashion and cosmetics segments YTD Q3 FY2016 3.6% Fashion and apparel 14.1% Cosmetic and YTD Q3 FY2015 53.7% accessories 28.6% 3.4% Household, electrical goods and 15.1% others Groceries and 53.0% 82.3% perishables 28.5% 81.5% 18

  19. Slide 19: Blended gross margins

    Blended gross margins Merchandise gross margin (including both direct sales and concessionaire sales) 23.4% 23.4% 23.8% 23.6% 23.7% 23.3% 22.7% 248 253 243 247 198 201 172 FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q3 FY2015 YTD Q3 FY2016 Merchandise gross profit (S$m) Merchandise gross margin (%) 19

  20. Slide 20: Profit margins: EBITDA

    Profit margins EBITDA(1) 100 25.0% 21.2% 80 75 20.0% 66 17.4% 16.8% 62 60 62 14.7% 60 15.0% 13.8% 14.0% 48 40 10.0% 20 5.0% - 0.0% FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q3 YTD Q3 FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q3 YTD Q3 FY2015 FY2016 FY2015 FY2016 (20) -5.0% -6.0% (26) (40) -10.0% EBITDA EB

  21. Slide 21: Profit margins: Net profit

    Profit margins Net profit attributable to Owners of the Company 50 20.0% 45 45 39 40 34 34 15.3% 15.0% 30 25 10.3% 20 10.0% 9.3% 8.6% 8.0% 7.3% 10 5.0% - FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q3 YTD Q3 FY2015 FY2016 (10) 0.0% FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q3 YTD Q3 (20) FY2015 FY2016 -5.0%

  22. Slide 22: Going Forward

    Going Forward 22

  23. Slide 23: Expansion Plan (confirmed sites for department stores)

    Expansion Plan (confirmed sites for department stores) Location FY2016 FY2017 Approx. GFA Approx. GFA (sq.m) (sq.m) Malaysia Malaysia 1. Maju Junction, Kuala Lumpur (opened July 2015) 35,954 1. MyTown, Kuala Lumpur (Q2FY2017)^ 13,952 2. Aman Central, Alor Setar (opened October 2015) 12,546 2. Sunway

  24. Slide 24: Thank You / Disclaimer

    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 compl

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