Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — H1 2021 Earnings Presentation
21 slides from Robinsons Retail's earnings presentation, Aug 4, 2021
Slide 1: First Half 2021 Unaudited Earnings Results
First Half 2021 Unaudited Earnings Results August 4, 2021 Footnote
Slide 2: Agenda
Agenda 1 Performance Highlights 2 Omnichannel Presence 3 Consolidated Results 4 Business Segments 5 Recent Developments Footnote
Slide 3: Performance Highlights
Performance Highlights (10.2%) ₱71.4bn 22.8% Blended SSSG GP Margin 2,153 Net Sales Stores Nationwide 8.0% ₱1.7bn Plus 1,935 TGP Branches EBITDA Margin Net Income att. to the parent 4x Total E-commerce company Growth Footnote 3
Slide 4: Omnichannel Presence
Omnichannel Presence Total of 2,153 stores plus 1,935 TGP Branches Metro GoRobinsons serves Luzon Visayas Mindanao Manila as an online store for Supermarkets 115 103 36 16 8 of our banners. Department Stores 11 19 10 9 DIY Stores 67 91 44 24 South Star Drug, Rose Convenience Stores 287 153 22 0 Phar
Slide 5: RRHI Consolidated Results
RRHI Consolidated Results 2Q20 2Q21 1H20 1H21 Supermarkets 24.2 21.1 48.6 42.2 Department stores 0.9 1.7 3.7 3.6 7.6% DIY stores 1.9 2.7 4.8 5.6 17.1% Convenience stores 0.9 1.2 2.5 2.4 Net Sales Drugstores 4.3 6.3 9.3 12.2 3.4% Breakdown Specialty stores 2.6 2.8 6.0 5.4 59.0% 7.9% TOTAL (₱ bn) 34.9
Slide 6: RRHI Consolidated Results
RRHI Consolidated Results In ₱ mn 2Q20 2Q21 1H20 1H21 2Q∆ 1H∆ E-commerce Net Sales 34,900 35,832 74,963 71,448 2.7% (4.7%) as % of Total Sales SSSG (13.9%) (3.4%) (3.8%) (10.2%) Gross Profit 6,923 8,155 15,659 16,319 17.8% 4.2% Gross Margin 19.8% 22.8% 20.9% 22.8% 2.8% EBITDA 2,845 2,891 6,183 5,723
Slide 7: Supermarket Segment
Supermarket Segment In ₱ mn 2Q20 2Q21 1H20 1H21 2Q∆ 1H∆ E-commerce Net Sales 24,201 21,057 48,606 42,167 (13.0%) (13.2%) as % of Total Sales SSSG 14.2% (14.4%) 16.4% (14.5%) Gross Profit 4,666 4,520 9,616 8,871 (3.1%) (7.7%) Gross Margin 19.3% 21.5% 19.8% 21.0% EBITDA 1,928 1,769 3,927 3,481 (8.2%)
Slide 8: Department Store Segment
Department Store Segment In ₱ mn 2Q20 2Q21 1H20 1H21 2Q∆ 1H∆ E-commerce Net Sales 923 1,680 3,664 3,591 82.1% (2.0%) as % of Total Sales SSSG (79.6%) 82.1% (53.8%) (2.0%) Gross Profit 257 492 1,095 1,068 91.1% (2.4%) Gross Margin 27.9% 29.3% 29.9% 29.7% EBITDA (29) 32 82 19 210.6% (76.6%) EBITDA Mar
Slide 9: DIY Segment
DIY Segment In ₱ mn 2Q20 2Q21 1H20 1H21 2Q∆ 1H∆ E-commerce Net Sales 1,890 2,714 4,849 5,633 43.6% 16.2% as % of Total Sales SSSG (49.8%) 43.8% (32.3%) 15.5% Gross Profit 636 852 1,609 1,838 34.0% 14.3% Gross Margin 33.7% 31.4% 33.2% 32.6% EBITDA 296 299 698 735 1.1% 5.2% EBITDA Margin 15.6% 11.0% 1
Slide 10: Convenience Store Segment
Convenience Store Segment In ₱ mn 2Q20 2Q21 1H20 1H21 2Q∆ 1H∆ E-commerce Systemwide Sales 1,367 1,335 3,645 2,718 (2.4%) (25.4%) as % of Total Sales Net Sales 946 1,226 2,482 2,434 29.7% (1.9%) SSSG (45.7%) 1.7% (23.2%) (19.9%) GP + Royalty Income 317 402 943 859 27.0% (8.9%) % of sales 33.5% 32.8%
Slide 11: Drugstore Segment
Drugstore Segment In ₱ mn 2Q20 2Q21 1H20 1H21 2Q∆ 1H∆ E-commerce Net Sales 4,350 6,312 9,345 12,250 45.1% 31.1% as % of Total Sales SSSG (1) (0.2%) 1.4% 6.9% (9.5%) Gross Profit 870 1,255 1,864 2,410 44.2% 29.3% Gross Margin 20.0% 19.9% 19.9% 19.7% EBITDA 427 536 947 974 25.5% 2.9% EBITDA Margin 9.8
Slide 12: Specialty Stores Segment
Specialty Stores Segment In ₱ mn 2Q20 2Q21 1H20 1H21 2Q∆ 1H∆ E-commerce Net Sales 2,591 2,842 6,017 5,373 9.7% (10.7%) as % of Total Sales SSSG (44.7%) 22.5% (30.9%) 2.4% Gross Profit 449 681 1,261 1,376 51.8% 9.1% Gross Margin 17.3% 24.0% 21.0% 25.6% EBITDA 158 221 364 415 40.0% 13.9% EBITDA Margin
Slide 13: Working Capital
Working Capital Cash Conversion 1H20 1H21 Cycle 7.9 5.8 Receivable 14.2 Days 59.8 74.2 Inventory Days 69.3 -1.6 Payable 65.8 Days 1H20 1H21 Footnote 13
Slide 14: Capital Expenditures
Capital Expenditures 1H20 1H21 Supermarkets 47% 55% Department stores 12% 12% DIY stores 14% 8% Convenience stores 11% 4% Drugstores 9% 15% Specialty stores 7% 6% TOTAL CAPEX (₱ mn) 636 898 % of sales 0.8% 1.3% Footnote 14
Slide 15: Digital Investments: G2M Solutions
Digital Investments: G2M Solutions Footnote 14.16% 15
Slide 16: Digital Investments: Edamama
Digital Investments: Edamama 13.3% Footnote 16
Slide 17: Robinsons Supermarket Partners with Woolworths
Robinsons Supermarket Partners with Woolworths Footnote 17
Slide 18: Thank You
THANK YOU. Footnote
Slide 19: Income Statement (Unaudited)
Income Statement (Unaudited) Three Months Ended Six Months Ended June 30 June 30 PHP mm 2021 2020 2021 2020 Sales - net of sales discounts and returns 35,832 34,900 71,448 74,963 Cost of merchandise sold 27,677 27,977 55,129 59,303 Gross Profit 8,155 6,923 16,319 15,659 Royalty, rent and other reven
Slide 20: Balance Sheet (Unaudited)
Balance Sheet (Unaudited) June 30 December 31 (Unaudited) (Audited) PHP mm 2021 2020 Current Assets Cash and cash equivalents 15,403 21,338 Trade and other receivables 2,308 3,144 Merchandise inventories 22,585 22,234 Other current assets 2,900 2,656 Total Current Assets 43,196 49,373 Noncurrent ass
Slide 21: Cash Flow Statement (Unaudited)
Cash Flow Statement (Unaudited) June 30 (Unaudited) December 30 (Audited) PHP mm 2021 2020 2020 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 1,817 2,237 4,419 Depreciation and amortization 3,391 3,373 6,987 Retirement expense 126 93 185 Others 526 573 411 Operating income before wor
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