Wilcon Depot, Inc. · PSE:WLCON
Wilcon Depot — Q1 2022 Earnings Presentation
20 slides from Wilcon Depot's earnings presentation, Apr 27, 2022
Slide 1: Earnings Conference Call
EARNINGS CONFERENCE CALL APRIL 27, 2022 | 4:00 PM
Slide 2: Discussion Agenda
DISCUSSION AGENDA Results Highlights Operating and Financial Statistics 2022 Outlook
Slide 3: First Quarter 2022 Results
FIRST QUARTER 2022 RESULTS Bn wacon EE
Slide 4: 1Q2022 Results Highlights
1Q2022 Results Highlights Financial Highlights Comparable Sales Summary Opened 1 new store ✓ Php 7.652B Net Sales 8.6% SSSG • Mayamot, Antipolo ✓ 14.6% y-o-y Net Sales -3.6% Transaction Count growth 12.7% Ticket Size ✓ Php 851 Million NIAT Total Sales Mix ✓ 40.7% y-o-y NIAT growth 51.2% In-house & e
Slide 5: First Quarter 2022
First Quarter 2022 (In Php MM) 1Q2022 % Sales 1Q2021 % Sales % Growth Net Sales 7,652 100.0 6,676 100.0 14.6 Cost of Sales -4,720 -61.7 -4,254 -63.7 10.9 GPM rate increased Gross Income 2,932 38.3 2,421 36.3 21.1 to 38.3% Operating Expenses -1,766 -23.1 -1,552 -23.2 13.8 Lease-related Interest Exp (
Slide 6: Total Net Sales Breakdown – 1Q2022
Total Net Sales Breakdown – 1Q2022 Home 1Q2022 Projects, Home 1Q2021 Projects, Php Millions Essentials, 53, 0.7% Essentials, 48, 0.7% 138, 1.8% 14.6% 140, 2.1% Depots, Depots, 7,460, 97.5% 6,488, 97.2% Sales Growth per Store Format Product Category Performance 1Q2022 VS 1Q2021 1Q2022 VS 1Q2021 Bette
Slide 7: Comparable Sales Summary
Comparable Sales Summary SSSG Excluding Inst’l/ Projects Sales Quarterly Trend • 1Q22 = 8.6% • 1Q21 = 10.5% FY21 = 12.1% 9.8% 12.1% • 1Q20 = -8.3% FY20 = -13.1% 8.6% 7.9% • 1Q19 = 7.9% FY19 = 4.9% 5.2% 1Q2022 1Q2021 1Q2020 1Q2019 1Y2021 1Y2020 1Y2019 -8.0% -13.6% 7
Slide 8: Balance Sheet
Balance Sheet Unaudited Mar 31, 2022 Audited Dec 31, 2021 Current Assets 17,110 17,189 Noncurrent Assets 15,654 15,149 Total Assets 32,764 32,337 Current Liabilities 9,102 8,880 Noncurrent Liabilities 6,194 5,979 Total Liabilities 15,296 14,859 Capital Stock 4,100 4,100 Additional Paid-in Capital 5,
Slide 9: 1Q2022 CAPEX Investment
1Q2022 CAPEX Investment 1Q2022 Capex Breakdown Actual Spent Expansion-related 731 (new stores, renovations, eqpt, warehouses, etc) Solar Panel Project 5 IT Infrastructure and Projects 5 Total CAPEX (in millions Php) 741 9
Slide 10: Margins
Margins GPM 37.3 38.3 33.4 34.4 31.4 29.7 PFRS 16 EBITDAM PAS 17 18.2 15.8 13.1 EBITM 11.9 11.9 14.8 10.4 12.3 11.2 11.4 NPM 9.8 8.8 11.1 8.7 8.7 9.3 7.8 6.4 FY2017 FY2018 FY2019 FY2020 FY2021 1Q2022 Note: ROU depreciation and interest expense charged on lease liability were considered as rent expen
Slide 11: Returning Value to Shareholders
Returning Value to Shareholders Cash Dividend per share over time: (Php/share) 11
Slide 12: 2022 Outlook
2022 OUTLOOK Bn wacon EE
Slide 13: 2022 Planned New Branches
2022 Planned New Branches 5 2022 4 Beg. Balance 73 8 Mayamot, Antipolo - opened Mar, 2022 Gapan, Nueva Ecija 1st Half 1 Lemery, Batangas 0 Bantay, Ilocos Sur Calapan, Oriental Mindoro 9 Abucay, Bataan 2nd Half Total Planned New Bauang, La Union Depot Stores - 8 Total number of San Jose, Nueva Ecija
Slide 14: FY2022 CAPEX Budget
FY2022 CAPEX Budget FY2022 % Increase Capex Breakdown Budget y-o-y Expansion-related 3,534 76% (new stores, renovations, eqpt, warehouses, etc) Solar Panel Project 236 123% IT Infrastructure and Projects 176 274% Total CAPEX (in millions Php) 3,946 83% 14
Slide 15: Continue to Increase Margins Thru In-house & Exclusive brands expansion
Continue to Increase Margins Thru In-house & Exclusive brands expansion • Improve supply chain management • Enhance marketing efforts • Expand product lines/ ✓ Enhance the Company’s ability to provide its customers with value for money products product offerings ✓ Rationalize product offerings 15
Slide 16: Store Lay-out, Features and Customer Experience Enhancements
Store Lay-out, Features and Customer Experience Enhancements • Constant innovations in store layout, features and customer experience that add value to our relationship with our customers and consistently differentiate us from competition 16
Slide 17: Omnichannel Initiatives
Omnichannel Initiatives Live Chat Feature Exclusive Online New Wilcon Shop promotions Lalamove Partnership Loyalty Program design LazMall Shops Kohler E-shop Live Selling in the Shopee Mall Online Shop 17
Slide 18: Thank you!
YEARS WILCON Thank you!
Slide 19: Q&A
Q&A
Slide 20: Disclaimer
Disclaimer The above contains statements about future events and expectations that constitute “forward-looking statements.” These forward-looking statements include words or phrases such as the Company or its management “believes”, “expects”, “anticipates”, “intends”, “may”, “plans”, “foresees”, “ta