Parkson Retail Asia Limited · SGX:O9E

Parkson Retail Asia — Q2 FY2015 Earnings Presentation

23 slides from Parkson Retail Asia's earnings presentation, Feb 9, 2015

  1. Slide 1: Financial Results Presentation Q2 FY2015

    Parkson Retail Asia Limited Financial Results Presentation Q2 FY2015 9 February 2015 1

  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 and SSSG by country

    Overview Business Environment  Same Store Sales Growth (“SSSG”), by countries: Quarter ended 6 months ended SSSG 31.12.2014 31.12.2013 31.12.2014 31.12.2013 Malaysia -6.7% +0.2% -5.6% +0.1% Vietnam -5.8% -2.7% -5.7% -2.0% Indonesia +8.8% +7.3% +7.3% +5.8% Myanmar +28.9% n.a. +30.8% n.a. n.a. – not

  5. Slide 5: SSSG for Myanmar and Financial Summary

     SSSG for Myanmar : - SSSG at +28.9% for the reported quarter. - store at FMI Centre recorded strong ramp-up in sales after the 1st year of operations. Financial Summary Group Reported Reported Like-for-Like Comparable* Quarter ended 6 months ended 6 months ended 31.12.2014 31.12.2013 +/(-) 31.12.2

  6. Slide 6: Reported topline increased for the quarter and YTD

     Reported topline figures (GSP and revenue) increased for the quarter and Year-to-Date (“YTD”) periods due to sales contribution from the 8 new stores and 3 renovated stores operating in the FY2015 period.  On same store basis, GSP and revenue for YTD period declined by (4.8)% and (4.3)% respectiv

  7. Slide 7: Segmental Profit Before Tax

    Segmental Profit Before Tax Group 6 months ended PBT Summary 31.12.2014 31.12.2013 +/(-) S$'000 S$'000 % Like-for-like, on same store basis Malaysia 27,889 29,827 (6.5) Vietnam (560) 15 >(100.0) Indonesia 4,537 2,677 69.5 Myanmar (304) (345) 11.9 Share of profits of an associate (Sri Lanka) 37 680 (

  8. Slide 8: PBT Variance and share of associate profits

    • The share of profits of an associate, Odel PLC, declined by (94.6)% due to higher operating costs and decline in interest income. The Company has completed the disposal of its investment in Odel PLC on 4 November 2014. • Investment holding / Others recorded a profit of S$0.81 million due to recogn

  9. Slide 9: Financial Statements

    Financial Statements 9

  10. Slide 10: Unaudited consolidated Income Statement

    Unaudited consolidated Income Statement For the six months ended 31 December Group Reported Reported (S$'000) Quarter ended 6 months ended 31.12.2014 31.12.2013 +/(-) 31.12.2014 31.12.2013 +/(-) S$'000 S$'000 % S$'000 S$'000 % Gross Sales Proceeds 289,555 286,042 1.2 570,256 562,179 1.4 - Direct sal

  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 Dec 2014 30 Jun 2014 (a)-(b) / (b) 31 Dec 2013 (a)-(c) / (c) (a) (b) (c) Total Assets 451,126 418,743 +7.7% 461,709 -2.3% - Non-current assets 152,528 172,079 -11.4% 166,848 -8.6% - Current assets

  12. Slide 12: Unaudited consolidated Statement of Cash Flows

    Unaudited consolidated Statement of Cash Flows For six months ended 31 December (S$’000) YTD YTD Q2 Q2 +/(-) 6 months 6 months +/(-) FY2015 FY2014 % FY2015 FY2014 % Net cash generated from operating activities 39,871 40,573 -1.7% 57,737 66,757 -13.5% Net cash generated from / (used in) investing act

  13. Slide 13: Segment results

    Segment results For six months ended 31 December Group Malaysia Vietnam Indonesia Myanmar Unallocated Total S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 6 months ended 31.12.2014 Gross Sales Proceeds 401,280 79,683 86,438 2,855 - 570,256 Revenue 172,738 22,552 31,290 930 - 227,510 Profit / (Loss) befor

  14. Slide 14: Operational Highlights

    Operational Highlights 14

  15. Slide 15: Geographic footprint

    Geographic footprint Vietnam Malaysia  Number of stores: 9  Number of stores: 40  Approx. GFA (leased): 98,000 sqm  Approx. GFA (leased): 436,000 sqm  Approx. GFA (owned): 23,000 sqm Indonesia  Approx. GFA (managed): 51,000 sqm  Number of stores: 14  Approx. GFA (leased): 136,000 sqm Myanmar

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

    Gross Sales Proceeds, Revenue and SSS Growth Overall top line growth SSSG Q2 YTD Q2 1,109,387 FY2015 FY2015 1,077,891 1,054,913 Malaysia -6.7% -5.6% Vietnam -5.8% -5.7% Indonesia +8.8% +7.3% 868,910 Myanmar +28.9% +30.8% 781,641 562,179 570,256 433,475 446,728 432,037 367,314 332,959 226,144 227,510

  17. Slide 17: Merchandise Sales Mix

    Merchandise Sales Mix YTD Q2 FY2015 YTD Q2 FY2014 19.1% 80.9% 20.0% 80.0% Direct sales Concessionaire Sales 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 Q2 FY2015 Household, Groceries and electrical goods perishables and others 3.5% 15.3% YTD Q2 FY2014 Household, Groceries and electrical goods perishables and others 3.4% 14.9% Fashion and Cosmetics and apparel accessories 53.1% 28.1% 8

  19. Slide 19: Blended gross margins

    Blended gross margins Merchandise gross margin (including both direct sales and concessionaire sales) 24.0% 23.2% 23.3% 23.4% 23.4% 23.4% 22.7% 243 247 248 198 178 130 135 FY2010 FY2011 FY2012 FY2013 FY2014 YTD Q2 FY2014 YTD Q2 FY2015 Merchandise gross profit (S$m) Merchandise gross margin (%) 19

  20. Slide 20: Profit margins

    Profit margins EBITDA(1) Net profit attributable to Owners of the Company 22.0% 12.0% 10.5% 10.5% 20.0% 17.6% 17.7% 9.5% 10.0% 17.0% 18.0% 8.7% 76 16.0% 8.1% 14.9% 14.2% 45 7.5% 8.0% 14.0% 13.4% 14.0% 67 62 6.4% 39 60 12.0% 35 35 6.0% 10.0% 45 40 8.0% 24 4.0% 21 32 6.0% 17 4.0% 2.0% 2.0% 0.0% 0.0% F

  21. Slide 21: Going Forward

    Going Forward 21

  22. Slide 22: Expansion Plan (confirmed sites)

    Expansion Plan (confirmed sites) Location FY2015 FY2016 Approx. GFA Approx. GFA (sq.m) (sq.m) Malaysia Malaysia 1. Imago, Kota Kinabalu (Q3FY2015)^ 12,875 1. Aman Central, Alor Setar (Q1FY2016)^ 12,546 2. IOI City Mall, Putrajaya (opened Nov 2014) 20,665 2. Viva City, Kuching (Q2FY2016)^ 12,795 3. P

  23. Slide 23: 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 compl

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