Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — 9M2018 Earnings Presentation
22 slides from Robinsons Retail's earnings presentation, Oct 29, 2018
Slide 1: 9M2018 Unaudited Earnings Results
southsti drug a 2 ae SHISEIDO ROBINSONS ais A RETAIL HOLDINGS, INC. 9M2018 UNAUDITED fl EARNINGS RESULTS OCTOBER 29, 2018 Cr Elizabeth Arden U capo TRUE HOME 20181113 Pero, RIN
Slide 2: Agenda
Financial Highlights Store Network Consolidated Results Business Segments Working Capital Capital Expenditure Recent Developments 2
Slide 3: Financial Highlights
13.1% yoy lift in consolidated 1,778 net sales stores plus Gross 1,914 TGP margin at branches 22.4% Strong nationwide EBITDA blended margin at SSSG of 7.0% 6.6% 9.0% yoy 12.7% yoy increase in increase in gross floor Core Net area (excl. TGP) income 3
Slide 4: Store Network
1,778 stores plus 1,914 TGP branches 40.6% 34.7% 36.1% 42.8% 11.2%18.0% with gross floor area of 1.2 million sqm 1 5.5% 11.1% Metro Luzon Visayas Mindanao Manila Supermarkets 53 67 25 13 Department Stores 14 18 11 8 DIY Stores 60 85 40 21 Convenience Stores 323 148 25 - Drugstores1 114 316 42 27 Spe
Slide 5: Net Sales and Same Store Sales Growth
Net Sales1 (₱ bn) Same Store Sales Growth ∆+13.1% 6.4% 6.6% 91.8 3.2% 2.8% 81.2 11.3 9.7 11.6 3Q2017 3Q2018 9M2017 9M2018 ∆+13.2% 10.7 4.5 4.2 9.9 31.4 8.8 12.7% 27.7 3.9 11.7 3.3 4.0 10.6 10.8% 3.7 1.5 46.5% Net Sales 1.4 3.4 Breakdown 4.9% 3.0 3.7 3.3 42.7 37.2 12.7% 13.0 14.9 12.3% 3Q2017 3Q2018
Slide 6: Gross Profit, EBITDA, EBIT and Net Income
Gross Profit (₱ mm) EBITDA (₱ mm) ∆+13.0% ∆+11.2% 20,577 18,215 6,384 5,740 ∆+11.2% ∆+10.3% 9M18 Highlights: 6,270 6,971 2,036 2,245 Gross profit 22.6% 22.2% 22.4% 22.4% 7.4% 7.2% 7.1% 7.0% margin 3Q2017 3Q2018 9M2017 9M2018 3Q2017 3Q2018 9M2017 9M2018 sustained at 22.4%; EBIT (₱ mm) Net Income (₱ m
Slide 7: Supermarkets Segment Results
Net Sales (₱ mm) Gross Profit (₱ mm) Store ∆+14.7% 42,715 ∆+14.4% Count 37,247 8,274 7,233 9M2018 158 ∆+14.6% ∆+13.2% 12,962 14,852 2017 154 2,587 2,929 20.0% 19.7% 19.4% 19.4% 2016 140 3Q2017 3Q2018 9M2017 9M2018 3Q2017 3Q2018 9M2017 9M2018 9M18 Highlights: Same Store Sales Growth EBITDA (₱ mm) Inc
Slide 8: Department Stores Segment Results
Net Sales (₱ mm) Gross Profit (₱ mm) Store ∆+10.4% Count ∆+12.8% 10,591 11,690 2,830 3,192 9M2018 51 ∆+11.9% ∆+9.7% 2017 49 3,287 3,678 903 991 27.5% 27.0% 26.7% 27.3% 2016 43 3Q2017 3Q2018 9M2017 9M2018 3Q2017 3Q2018 9M2017 9M2018 9M18 Highlights: Same Store Sales Growth EBITDA (₱ mm) Increase in n
Slide 9: DIY Stores Segment Results
Net Sales (₱ mm) Gross Profit (₱ mm) Store ∆+12.3% ∆+12.1% Count 9,910 3,227 8,843 2,874 9M2018 206 ∆+13.7% ∆+13.7% 981 1,116 2017 193 3,018 3,432 32.5% 32.5% 32.5% 32.6% 2016 178 3Q2017 3Q2018 9M2017 9M2018 3Q2017 3Q2018 9M2017 9M2018 9M18 Highlights: Same Store Sales Growth EBITDA (₱ mm) Double–di
Slide 10: Convenience Stores Segment Results
Systemwide Sales & Net Sales Gross Profit + Royalty Income (₱ mm) ∆+4.3% 40.6% 39.3% (₱ mm) 40.6% 39.3% Store 6,385 6,658 Count ∆+6.1% System-wide sales ∆+6.8% 1,683 1,785 9M2018 496 ∆+4.1% 415 403 2,117 2,203 566 605 2017 496 Net Sales 4,151 4,545 1,280 1,371 135 126 1,394 1,540 431 479 2016 499 3Q
Slide 11: Drugstores Segment Results
Net Sales (₱ mm) Gross Profit (₱ mm) Store ∆+9.0% Count ∆+7.5% 10,658 11,620 2,000 2,150 9M2018 499 1,914 ∆+7.7% ∆+1.7% 2017 484 2,015 3,693 3,979 688 700 18.6% 17.6% 18.8% 18.5% 2016 412 1,912 3Q2017 3Q2018 9M2017 9M2018 3Q2017 3Q2018 9M2017 9M2018 9M18 Highlights: Same Store Sales Growth EBITDA (₱
Slide 12: Specialty Stores Segment Results
Net Sales (₱ mm) Gross Profit (₱ mm) Store ∆+16.8% ∆+15.4% Count 12,297 10,525 3,319 2,875 9M2018 368 ∆+17.3% ∆+13.8% 1,109 2017 342 3,613 4,237 975 27.0% 26.2% 27.3% 27.0% 2016 306 3Q2017 3Q2018 9M2017 9M2018 3Q2017 3Q2018 9M2017 9M2018 9M18 Highlights: Same Store Sales Growth EBITDA (₱ mm) Expansi
Slide 13: Working Capital: Receivable, Inventory, Payable Days
2016 2017 9M2018 7.1 Receivable days 6.9 6.8 Inventory days 60.6 62.1 59.4 Payable days 74.7 72.5 55.0 13.9 Cash Conversion Cycle -8.5 -4.8 13
Slide 14: Capital Expenditure
2016 2017 9M2018 Supermarkets 26% 41% 51% Department stores 10% 24% 16% DIY Stores 7% 11% 12% Convenience Stores 4% 4% 5% Drugstores 43% 8% 3% Specialty Stores 10% 12% 13% Total CAPEX (in ₱ mm) 5,620 3,105 2,865 % of net sales 5.3% 2.7% 3.1% 14
Slide 15: Online Platform Launches
Launch Brand Platform Sep 2018 honestbee Jun 2018 Zalora May 2018 Shopee Apr 2018 honestbee Apr 2018 Lazada Jan 2018 Lazada Dec 2017 (invested 20% stake) BeautyMNL Oct 2017 Lazada May 2017 honestbee Apr 2017 Zalora Mar 2015 Lazada 15
Slide 16: Recent Developments: App release
released in last October 18 Available soon on 16
Slide 17: New Look of Daiso Japan
NEW LOOK OF DAISO JAPAN (gj ROBINSONS RETAIL HOLDINGS, INC.
Slide 18: Opening of Pet Lovers Centre
OPENING OF PET LOVERS CENTRE
Slide 19: Thank You
SUIEIDO: 72] ROBINSON | mi = RETAIL HOLDINGS, INC. THANK YOU!
Slide 20: Income Statement
Three Months Ended Sept 30 Nine Months Ended Sept 30 PHP mm 2018 2017 2018 2017 Sales - net of sales discounts and returns 31,358 27,695 91,817 81,180 Cost of merchandise sold 24,387 21,424 71,240 62,965 Gross Profit 6,971 6,270 20,577 18,215 Royalty, rent and other revenues 706 576 1,880 1,689 Gros
Slide 21: Balance Sheet
September 30 December 31 PHP mm 2018 2017 ASSETS Current Assets Cash and cash equivalents 7,523 14,565 Trade and other receivables 2,296 2,235 Merchandise inventories 16,211 14,847 Other current assets 2,446 2,424 Total Current Assets 28,475 34,070 Noncurrent assets Available-for-sale (AFS) financia
Slide 22: Cash Flow Statement
Nine Months Ended Sept 30 Years Ended December 31 PHP mm 2018 2017 2017 2016 Income before income tax 5,585 5,057 7,303 6,667 Adjustments for: Depreciation and amortization 1,729 1,517 2,073 2,038 Retirement expense 115 95 171 117 Interest expense 92 100 127 87 Equity in net earnings in associates (
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