Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — Q4 2021 Earnings Presentation
28 slides from Robinsons Retail's earnings presentation, Mar 31, 2022
Slide 1: 2021 Unaudited Earnings Results
2021 Unaudited Earnings Results March 1, 2022 Footnote
Slide 2: Agenda
Agenda 1 Performance Highlights 2 Omnichannel Presence 3 Consolidated Results 4 Business Segments 5 Recent Developments Footnote
Slide 3: FY2021 Performance Highlights
FY2021 Performance Highlights 1.5% Y o Y Blended 3.5x lift in SSSG of Growth on consolidated net sales -4.9% E-commerce Sales 2,208 10bps 3 9. 2% Y o Y stores plus 120bps increase in net EBITDA 2,030 TGP lift in Gross income margin branches margin attributable to expansion parent nationwide Footnote
Slide 4: 4Q2021 Performance Highlights
4Q2021 Performance Highlights 7.0% Y o Y Blended 2.9x lift in SSSG of Growth on consolidated net sales 2.3% E-commerce Sales 90bps l i f t 100bps 2x i n c r e a s e in Gross EBITDA in net income margin attributable to margin parent Footnote expansion 4
Slide 5: Omnichannel Presence
Omnichannel Presence Total of 2,208 stores plus 2,030 TGP Branches GoRobinsons Metro Luzon Visayas Mindanao serves as an online Manila Supermarkets store for 11 of our 124 110 36 16 banners. Drugstores1 119 378 266 136 DIY Stores 66 92 45 24 South Star Drug, Rose Department Stores 11 20 12 9 Pharmac
Slide 6: RRHI Consolidated Results
RRHI Consolidated Results 4Q20 4Q21 2020 2021 Supermarkets 23.6 24.7 94.1 88.6 3.2% 8.0% 6.1% Drugstores 5.4 6.9 19.1 26.7 7.5% DIY stores 3.7 3.2 11.4 11.5 Net Sales Breakdown Department stores 3.4 4.2 8.5 9.3 57.8% 17.4% Convenience stores 1.4 1.3 4.8 4.9 Specialty stores 4.1 4.2 13.3 12.3 TOTAL (
Slide 7: RRHI Consolidated Results
RRHI Consolidated Results In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce Net Sales 41,494 44,400 151,070 153,327 7.0% 1.5% as % of Total Sales SSSG (15.6%) 2.3% (8.9%) (4.9%) Gross Profit 9,300 10,347 32,898 35,225 11.3% 7.1% Gross Margin 22.4% 23.3% 21.8% 23.0% 0.9% 1.2% EBITDA EBITDA Margin 3,423
Slide 8: Supermarket Segment
Supermarket Segment In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce as % of Total Sales Net Sales 23,627 24,660 94,121 88,630 4.4% (5.8%) SSSG (2.3%) (1.2%) 7.7% (8.7%) Gross Profit 5,244 5,458 19,625 19,030 4.1% (3.0%) Gross Margin 22.2% 22.1% 20.9% 21.5% 3.7% EBITDA 1,957 2,044 7,820 7,460 4.4% (4.
Slide 9: Drugstore Segment
Drugstore Segment In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce as % of Total Sales Net Sales 5,389 6,873 19,059 26,668 27.5% 39.9% SSSG (1) (10.4%) 4.0% (0.1%) (0.7%) Gross Profit 907 1,321 3,629 5,213 45.6% 43.6% Gross Margin 16.8% 19.2% 19.0% 19.5% 4.4% EBITDA 383 692 1,770 2,382 80.4% 34.6% EBI
Slide 10: DIY Segment
DIY Segment In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce as % of Total Sales Net Sales 3,651 3,196 11,358 11,501 (12.5%) 1.3% SSSG (11.7%) (8.1%) (23.4%) 1.3% Gross Profit 1,063 940 3,689 3,633 (11.5%) (1.5%) Gross Margin 29.1% 29.4% 32.5% 31.6% 3.7% EBITDA 532 373 1,772 1,420 (29.8%) (19.9%) EBIT
Slide 11: Department Store Segment
Department Store Segment In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce as % of Total Sales Net Sales 3,354 4,169 8,451 9,326 24.3% 10.4% SSSG (45.6%) 21.3% (52.0%) 8.7% Gross Profit 916 1,220 2,499 2,792 33.2% 11.7% Gross Margin 27.3% 29.3% 29.6% 29.9% 1.4% EBITDA 178 591 282 605 232.2% 114.6% EBIT
Slide 12: Convenience Store Segment
Convenience Store Segment In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce as % of Total Sales Net Sales 1,400 1,340 4,811 4,915 (4.3%) 2.2% SSSG (38.9%) 4.6% (31.8%) (9.6%) GP + Royalty Income 340 480 1,645 1,739 41.0% 5.7% % of sales 24.3% 35.8% 34.2% 35.4% 2.7% EBITDA 116 124 318 292 6.8% (8.1%) EB
Slide 13: Specialty Stores Segment
Specialty Stores Segment In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce as % of Total Sales Net Sales 4,073 4,163 13,271 12,287 2.2% (7.4%) SSSG (27.6%) 15.6% (28.0%) 6.0% Gross Profit 807 985 2,734 3,028 22.0% 10.8% Gross Margin 19.8% 23.7% 20.6% 24.6% 3.0% EBITDA 261 288 852 954 10.4% 12.0% EBITDA
Slide 14: Working Capital
Working Capital Cash Conversion 2020 2021 Cycle 7.6 Receivable 6.6 16.5 Days 77.5 Inventory 68.9 Days 4.1 72.4 Payable 67.6 Days 2020 2021 Footnote 14
Slide 15: Capital Expenditures
Capital Expenditures 2020 2021 Supermarkets 61% 60% Drugstores 10% 13% DIY stores 7% 5% Department stores 9% 15% Convenience stores 9% 3% Specialty stores 4% 4% TOTAL CAPEX (₱ mn) 1,868 2,440 Footnote 15
Slide 16: Share Buyback Update
Share Buyback Update On February 11, 2022, the Board of Directors approved the additional ₱1.0bn share buyback. As of February 28, 2022 Total Amount Allotted for Share Buyback ₱ 5,000,000,000 Total Amount of Shares Repurchased (excluding taxes and fees) ₱ 4,411,998,114 Remaining amount ₱ 588,001,886
Slide 17: Acquisition of the 40% stake in Ministop
Acquisition of the 40% stake in Ministop Footnote 17
Slide 18: Ultramart Acquisition
Ultramart Acquisition Ultramart is a 10-chain minimart-pharmacy format Footnote located in Cebu 18
Slide 19: Bloomberg GEI Score: 64.87
Bloomberg GEI Score: 64.87 RRHI is now part of the 2022 Bloomberg Gender Equality Index Footnote 19
Slide 20: Ateneo Center for Educational Development partnership
Strengthening the Ateneo Center for Educational Development (ACED) - Robinsons Supermarket Corporation partnership • 231 beneficiaries in 5 communities in Quezon City. • Total Donation* in 2021 : ₱1.54M * Fit for consumption but not fit for sale food items, and gift certificates Footnote 20
Slide 21: Robinsons Supermarket wins in two major categories
Robinsons Supermarket wins in two major categories during the Golden Grab Awards 2021 held on November 19, 2021 Footnote 21
Slide 22: Supermarket Segment ends 2021 with DTI Gold Bagwis Awards
Supermarket Segment ends 2021 with 105 DTI Gold Bagwis Awards Footnote 22
Slide 23: Growsari Series C Funding
Growsari Growsari has recently announced the first tranche of its Series C fundraising, Series C with KKR leading the round with a US$45mn investment. RRHI will Funding participate in the subsequent tranche. Investors Footnote 23
Slide 24: Plans and Prospects for 2022
Plans and Prospects for 2022 Net store Organic SSSG additions CAPEX of target of of 140-150 ₱4.0-6.0bn 5%-10% 5%-7% 20-30bps ecommerce gain in gross Footnote contribution margins 24
Slide 25: Thank You
THANK YOU. Footnote
Slide 26: Income Statement
Income Statement Three Months Ended December 31 Twelve Months Ended December 31 2020 2021 2020 2021 PHP mm (Audited) (Unaudited) (Audited) (Unaudited) Sales - net of sales discounts and returns 41,494 44,400 151,070 153,327 Cost of merchandise sold 32,194 34,053 118,172 118,102 Gross Profit 9,300 10
Slide 27: Balance Sheet
Balance Sheet December 31 December 31 (Audited) (Unaudited) PHP mm 2020 2021 Current Assets Cash and cash equivalents 21,338 16,634 Trade and other receivables 3,144 2,770 Merchandise inventories 22,234 25,089 Other current assets 2,656 3,003 Total Current Assets 49,373 47,497 Noncurrent assets Debt
Slide 28: Cash Flow
Cash Flow December 31 (Audited) December 31 (Unaudited) PHP mm 2020 2021 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 4,419 5,272 Depreciation and amortization 6,987 6,997 Retirement expense 185 261 Others 411 885 Operating income before working capital changes 12,002 13,415 Working
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