Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — Q1 2022 Earnings Presentation
25 slides from Robinsons Retail's earnings presentation, May 6, 2022
Slide 1: First Quarter 2022 Unaudited Earnings Results
First Quarter 2022 Unaudited Earnings Results May 6, 2022 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 10.7% Blended E-commerce YoY lift in SSSG of Sales 10bps consolidated Gross margin net sales 4.9% doubled improvement 60bps 2 4. 8 % Y o Y 2,203 increase in net 29.2% stores plus EBITDA YoY gain in margin income 2,057 TGP attributable to earnings per branches expansion parent
Slide 4: Omnichannel Presence
Omnichannel Presence Total of 2,203 stores plus 2,057 TGP Branches GoRobinsons Metro Luzon Visayas Mindanao serves as an online Manila Supermarkets store for 14 of our 125 114 36 16 banners. Drugstores1 121 377 272 140 DIY Stores 66 90 43 24 South Star Drug, Rose Department Stores 11 20 12 9 Pharmac
Slide 5: RRHI Consolidated Results
RRHI Consolidated Results 1Q2021 1Q2022 ASSG SSSG Supermarkets 21.1 22.4 6.3% (0.3%) 8.0% 3.2% Drugstores 5.9 7.1 19.4% 14.6% 6.5% DIY stores 2.9 2.9 0.3% (0.1%) 7.4% Net Sales Breakdown Department stores 1.9 2.6 33.8% 22.4% 56.9% 18.0% Convenience stores 1.2 1.3 5.5% 4.4% Specialty stores 2.5 3.1 2
Slide 6: RRHI Consolidated Results
RRHI Consolidated Results In ₱ mn 1Q2021 1Q2022 1Q∆ E-commerce Net Sales 35,616 39,423 10.7% as % of Total Sales SSSG (16.1%) 4.9% Gross Profit 8,164 9,085 11.3% Gross Margin 22.9% 23.0% 4.1% EBITDA 2,833 3,363 18.7% EBITDA Margin 8.0% 8.5% EBIT 1,163 1,589 36.6% EBIT Margin 3.3% 4.0% Net Income to
Slide 7: Supermarket Segment
Supermarket Segment In ₱ mn 1Q2021 1Q2022 1Q∆ E-commerce as % of Total Sales Net Sales 21,110 22,447 6.3% SSSG (14.6%) (0.3%) Gross Profit 4,352 4,702 8.1% Gross Margin 20.6% 20.9% 4.2% EBITDA 1,711 1,839 7.5% EBITDA Margin 8.1% 8.2% vs 2.0% 1Q2021 Has a total of 146 Robinsons 84 Robinsons 11 No Sup
Slide 8: Drugstore Segment
Drugstore Segment In ₱ mn 1Q2021 1Q2022 1Q∆ E-commerce as % of Total Sales Net Sales 5,938 7,089 19.4% SSSG (1) (18.7%) 14.6% Gross Profit 1,156 1,413 22.3% Gross Margin 19.5% 19.9% 5.5% EBITDA 439 651 48.4% EBITDA Margin 7.4% 9.2% vs 2.2% 1Q2021 Has a total of 910 Southstar Rose owned & 2,057 franc
Slide 9: DIY Segment
DIY Segment In ₱ mn 1Q2021 1Q2022 1Q∆ E-commerce as % of Total Sales Net Sales 2,919 2,928 0.3% SSSG (2.3%) (0.1%) Gross Profit 986 935 (5.2%) Gross Margin 33.8% 31.9% 4.0% EBITDA 436 420 (3.6%) EBITDA Margin 14.9% 14.3% vs 2.2% 1Q2021 Has a total of True Robinsons 223 stores 181 Handyman 31 Value 1
Slide 10: Department Store Segment
Department Store Segment In ₱ mn 1Q2021 1Q2022 1Q∆ E-commerce as % of Total Sales Net Sales 1,911 2,557 33.8% SSSG (30.6%) 22.4% Gross Profit 576 785 36.2% Gross Margin 30.2% 30.7% 1.3% EBITDA (12) 86 791.5% EBITDA Margin (0.7%) 3.4% vs 0.8% 1Q2021 Has a total of 52 stores Footnote 10
Slide 11: Convenience Store Segment
Convenience Store Segment In ₱ mn 1Q2021 1Q2022 1Q∆ E-commerce as % of Total System- System-wide Sales 1,383 1,404 1.5% wide Sales Net Sales 1,207 1,274 5.5% SSSG (33.4%) 4.4% GP + Royalty Income 457 492 7.6% 3.4% GP + R.I. Margin 37.9% 38.6% EBITDA 72 124 72.0% vs 1.9% 1Q2021 EBITDA Margin 6.0% 9.8
Slide 12: Specialty Stores Segment
Specialty Stores Segment In ₱ mn 1Q2021 1Q2022 1Q∆ E-commerce as % of Total Sales Net Sales 2,531 3,128 23.6% SSSG (13.2%) 21.2% Gross Profit 694 816 17.6% Gross Margin 27.4% 26.1% 2.6% EBITDA 193 249 28.6% EBITDA Margin 7.6% 7.9% vs 2.6% 1Q2021 Has a total of Appliances & 120 Electronics 40 Toys 11
Slide 13: Working Capital
Working Capital Cash Conversion 1Q2021 1Q2022 Cycle 6.0 6.3 Receivable Days 24.8 75.6 73.4 Inventory Days 8.4 71.1 Payable Days 57.0 1Q2021 1Q2022 Footnote 13
Slide 14: Capital Expenditures
Capital Expenditures 1Q2021 1Q2022 Supermarkets 61% 73% Drugstores 10% 9% DIY stores 10% 5% Department stores 4% 8% Convenience stores 5% 1% Specialty stores 10% 3% TOTAL CAPEX (₱ mn) 370 835 Footnote 14
Slide 15: Increasing Shareholder's Value
Increasing Shareholder’s Value Additional Total May 17, 2022 Share Share Cash Ex-Date Buyback Buyback Dividend May 20, 2022 ₱1.0 ₱6.0 ₱2.00 Record Date billion per share billion June 10, 2022 Payment Date Footnote 15
Slide 16: RRHI included in the PSE MidCap and DivY Indeces
RRHI included in the PSE MidCap and DivY Indeces Footnote 16
Slide 17: Investment valuation in Series A, B and C
Pre-money Investment Valuation 3.3x Series A Series B Series C 3.6x 5.9 2.1 9.5 US$ million US$ million US$ million Series C Series B Total RRHI RRHI Series A Investment Stake 17.6 14.07 Footnote US$ million Percent 17
Slide 18: Resbakuna sa Botika
Resbakuna sa Botika Footnote 18
Slide 19: GCash Digital Excellence Awards
GCash Digital Excellence Awards 2022 • RRHI Industry Pioneer Awardee • Robinsons Supermarket Innovation & Growth Award (Supermarkets) • Ministop Innovation & Growth Footnote Award (CVS) 19
Slide 20: Election of Mr. Enrico S. Cruz as Independent Director
Election of Mr. Enrico S. Cruz as Independent Director • Independent Director: Security Bank Corporation, AREIT Inc., The Keepers Holdings Inc., Maxicare Healthcare Corporation, DITO CME Holdings Inc., SB Capital Investment Corporation and CIBI Information Inc. • Chief Country Officer and Head of Co
Slide 21: Thank You
THANK YOU. Footnote
Slide 22: Income Statement
Income Statement Three Months Ended March 31 2021 2022 PHP mm (Unaudited) (Unaudited) Sales - net of sales discounts and returns 35,616 39,423 Cost of merchandise sold 27,452 30,338 Gross Profit 8,164 9,085 Royalty, rent and other revenues 206 290 Gross profit including other revenue 8,370 9,375 Ope
Slide 23: Balance Sheet
Balance Sheet December 31 March 31 (Audited) (Unaudited) PHP mm 2021 2022 Current Assets Cash and cash equivalents 16,170 12,391 Trade and other receivables 2,667 2,758 Merchandise inventories 25,090 25,472 Other current assets 2,989 3,023 Total Current Assets 46,916 43,644 Noncurrent assets Debt an
Slide 24: Cash Flow
Cash Flow December 31 (Audited) March 31 (Unaudited) PHP mm 2021 2021 2022 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 5,269 886 1,516 Depreciation and amortization 7,088 1,670 1,774 Retirement expense 284 62 51 Others 121 278 251 Operating income before working capital changes 12,
Slide 25: Disclaimer
DISCLAIMER This presentation contains certain forward looking statements with respect to the financial condition, results of operations and businesses of Robinsons Retail Holdings, Inc. (RRHI). Such forward looking statements involve known and unknown risks, uncertainties and other factors which may
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