Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — Q1 2023 Earnings Presentation
30 slides from Robinsons Retail's earnings presentation, Apr 27, 2023
Slide 1: First Quarter 2023 Unaudited Earnings Results
First Quarter 2023 Unaudited Earnings Results 27 April 2023
Slide 2: Agenda
01 Performance Highlights 02 Omnichannel Presence Agenda 03 Consolidated Results 04 Business Segments 05 Recent Developments
Slide 3: 1Q2023 Performance Highlights
1Q2023 Performance Highlights Consolidated Blended SSSG Capital Net sales Expenditures ₱44.6bn 9.2% ₱685mn 13.1% EBIT Gross margin Core Net 2,327 ₱1.8bn Earnings stores plus 23.6% 14.8% ₱1.1bn 2,149 TGP branches 60bps EBIT margin: 4.1% 20.5% +10bps nationwide 3
Slide 4: Omnichannel Presence
Omnichannel Presence Total of 2,327 stores plus 2,149 TGP Branches Metro Luzon Visayas Mindanao Total Manila Supermarkets 140 132 40 17 329 Drugstores1 136 409 310 150 1,005 Sustaining the growth of our Department 10 20 12 9 51 offline store network is Stores complementary to our DIY Stores 66 95 38
Slide 5: RRHI Consolidated Results – Net Sales
RRHI Consolidated Results – Net Sales Blended Same Store Sales Growth 11.8% 9.2% 1Q22 1Q23 1Q∆ 4.9% Supermarkets 22.4 25.6 14.1% -4.9% Drugstores 7.1 8.0 12.5% FY2021 FY2022 1Q2022 1Q2023 Department stores 2.6 3.2 27.0% 7.4% 3.5% DIY stores 2.9 2.9 -0.9% 6.5% Convenience stores 1.3 1.5 20.8% 7.3% Ne
Slide 6: RRHI Consolidated Results – P&L
RRHI Consolidated Results – P&L In ₱ mn 1Q22 1Q23 1Q∆ Net Sales 39,423 44,593 13.1% SSSG 4.9% 9.2% 6.6% 4.3% Gross Profit 9,085 10,529 15.9% Gross Margin 23.0% 23.6% 8.6% EBITDA 3,363 3,641 8.3% 3.8% EBITDA EBITDA Margin 8.5% 8.2% Breakdown EBIT 1,589 1,824 14.8% (1Q2023) 58.0% EBIT Margin 4.0% 4.1%
Slide 7: Supermarket Segment
Supermarket Segment Has a total of 329 stores (+5 YTD) Net sales (₱ mm) Same Store Sales Growth Robinsons 148 Supermarket ∆+14.1% 7.3% 8.7% Robinsons 101,120 110 Easymart 88,630 16 Shopwise ∆+14.1% (0.3%) The 22,447 25,607 37 Marketplace (8.7%) FY2021 FY2022 1Q2022 1Q2023 FY2021 FY2022 1Q2022 1Q2023
Slide 8: Drugstore Segment
Drugstore Segment Has a total of 1,005 Net sales (₱ mm) Same Store Sales Growth (1) owned (+12 YTD) & 2,149 franchised stores (-2 YTD) ∆+10.6% 14.6% Southstar 26,668 29,486 628 Drug ∆+12.5% 5.3% 5.9% Rose 377 Pharmacy 7,089 7,976 (0.7%) 2,149 TGP FY2021 FY2022 1Q2022 1Q2023 FY2021 FY2022 1Q2022 1Q20
Slide 9: Department Store Segment
Department Store Segment Net sales (₱ mm) Same Store Sales Growth ∆+61.2% 15,031 53.4% Has a total of 51 stores 9,326 (unchanged YTD) ∆+27.0% 22.4% 26.4% 2,557 3,247 8.7% 1Q2023 Highlights: FY2021 FY2022 1Q2022 1Q2023 FY2021 FY2022 1Q2022 1Q2023 • Continued reopening momentum is helping sustain SSSG
Slide 10: DIY Segment
DIY Segment Net sales (₱ mm) Same Store Sales Growth Has a total of 225 stores (+2 YTD) ∆+7.8% 11,501 12,403 10.1% 192 Handyman ∆-0.9% 2.9% 33 True Value 2,928 2,902 1.3% (0.1%) FY2021 FY2022 1Q2022 1Q2023 FY2021 FY2022 1Q2022 1Q2023 1Q2023 Highlights: • Exit from Robinsons Gross Profit (₱ mm) EBITD
Slide 11: Convenience Store Segment
Convenience Store Segment Net sales (₱ mm) Same Store Sales Growth ∆+23.5% Has a total of 418 6,072 26.0% 4,915 21.7% stores (-6 YTD) ∆+20.8% 4.4% 1Q2023 Highlights: 1,274 1,539 • Strong performance of (9.6%) BPO and Commercial FY2021 FY2022 1Q2022 1Q2023 FY2021 FY2022 1Q2022 1Q2023 clusters drove t
Slide 12: Specialty Segment
Specialty Segment Net sales (₱ mm) Same Store Sales Growth Has a total of 299 ∆+19.7% stores (+4 YTD) 14,709 21.2% 119 Appliances & Electronics 12,287 18.2% 41 Toys ∆+6.2% 117 Mass Merchandise 6.0% 5.0% 3,128 3,322 12 Beauty 10 Pet Retail FY2021 FY2022 1Q2022 1Q2023 FY2021 FY2022 1Q2022 1Q2023 Gross
Slide 13: Working Capital
Working Capital 1Q 2022 1Q 2023 Cash Conversion Cycle 6.3 Receivable 5.8 24.8 Days 75.6 76.8 Inventory 22.0 Days 60.6 Payable 57.0 Days 1Q 2022 1Q 2023 13
Slide 14: Balance Sheet
Balance Sheet Mar 31, 2022 Mar 31, 2023 In ₱ mn (Unaudited) (Unaudited) Cash & Cash Equivalents 12,391 11,389 Investment in Debt & Equity Securities (ex-BPI shares) 9,816 6,332 Total Assets 128,496 155,076 Total Debt 5,379 23,109 Total Equity 75,627 79,621 Return on Assets (trailing 12-months) 3.6%
Slide 15: Capital Expenditures
Capital Expenditures 1Q 2022 1Q 2023 Supermarkets 613 287 Drugstores 74 91 Department stores 69 90 DIY stores 39 102 Convenience stores 10 57 Specialty stores 29 57 TOTAL CAPEX (₱ mn) 835 685 15
Slide 16: Trade Partners Night 2022
Trade Partners Night 2022 WINNE 8 $ my?
Slide 17: Store Managers assemblies bolster team spirit
Store Managers assemblies bolster team spirit 17
Slide 18: Supermarket and Department Store segments recognized by Globe and GCash
Supermarket and Department Store segments recognized by Globe and GCash 18
Slide 19: Robinsons Supermarket, URC, RLC partner with Xavier School against plastic pollution
Robinsons Supermarket, URC, RLC partner with Xavier School to help in fight to curb plastic pollution 19
Slide 20: No Brand teamed with SOS to fight food waste
No Brand teamed with SOS to fight food waste 20
Slide 21: TGP’s 2023 Pharmacists Summit
TGP’s 2023 Pharmacists Summit 21
Slide 22: TGP’s 2023 Franchisees Summit
TGP’s 2023 Franchisees Summit 22
Slide 23: Southstar Drugs strengthens Health Fair initiatives
Southstar Drugs strengthens Health Fair initiatives 23
Slide 24: Rose Pharmacy joined Cebu LGU for Indigent medical welfare
Rose Pharmacy joined Cebu LGU for Indigent medical welfare 24
Slide 25: Rose Pharmacy runs for Cancer Awareness
Rose Pharmacy runs for Cancer Awareness 25
Slide 26: Guidance for 2023
Net store additions of SSSG target 180-200 of 4%-6% Guidance for 2023 +20-40bps Organic CAPEX gain in gross of margins P5.0-7.0bn 26
Slide 27: Thank you.
Thank you.
Slide 28: Income Statement
Income Statement Three Months Ended March 31 2023 (Unaudited) 2022 (Unaudited) Sales - net of sales discounts and returns 44,593 39,423 Cost of merchandise sold 34,064 30,338 Gross Profit 10,529 9,085 Royalty, rent and other revenues 335 290 Gross profit including other revenue 10,865 9,375 Operatin
Slide 29: Balance Sheet
Balance Sheet March 31 December 31 (Unaudited) (Audited) 2023 2022 Current Assets Cash and cash equivalents 11,389 17,767 Trade and other receivables 2,878 3,528 Merchandise inventories 29,082 27,470 Other current assets 2,743 2,434 Total Current Assets 46,092 51,198 Noncurrent assets Held For Sale
Slide 30: Cash Flow
Cash Flow March 31 March 31 December 31 (Unaudited) (Unaudited) (Audited) 2023 2022 2022 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 993 1516 7,987 Depreciation and amortization including ROU amortization- PFRS 16 1818 1774 7,180 Retirement expense 42 SL 201 Others including intere
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