Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — FY2024 Earnings Presentation
24 slides from Robinsons Retail's earnings presentation, Feb 6, 2025
Slide 1: Full Year 2024 Unaudited Earnings Results
Full Year 2024 Unaudited Earnings Results 6 February 2025
Slide 2: Agenda
Agenda 1 Performance Highlights 2 Store Network 3 Business Segments 4 Updates on Minority Investments 5 2025 Guidance AT THE HEART OF MEANINGFUL RETAIL
Slide 3: 4Q2024 Performance Highlights
4Q2024 Performance Highlights Net Sales Same Store Gross Profit 56.8bn Sales Growth ₱ 13.8bn ₱ ▲ 5.3% 3.4% ▲ 8.7% Gross Margin: 24.3% +80bps EBIT Core Earnings Net Income ₱ 3.4bn 2.3bn to Parent ▲ 20.9% EBIT Margin: ₱ ▲ 21.9% ₱ 2.5bn ▲ 62.4% 6.0%, +80bps
Slide 4: FY2024 Performance Highlights
FY2024 Performance Highlights Net Sales Same Store Gross Profit 199.2bn Sales Growth ₱ 48.1bn ₱ ▲ 3.7% 1.5% ▲ 5.5% Gross Margin: 24.2% +40bps EBIT Core Earnings Net Income ₱ 9.8bn 6.3bn to Parent ▲ 9.1% EBIT Margin: ₱ ▲ 12.3% ₱ 10.3bn ▲ 2.5x 4.9%, +20bps
Slide 5: Revenue Trends
Revenue Trends 4Q23 4Q24 FY23 FY24 4Q∆ FY∆ Blended Same Store Sales Food 31.6 33.5 114.9 120.3 6.1% 4.6% Growth (SSSG) Drugstores 9.0 9.5 33.4 35.8 5.9% 7.3% 3.9% 3.4% Department 5.5 5.9 16.3 16.6 6.6% 2.1% stores DIY stores 3.3 3.3 12.3 11.8 -1.8% -4.2% 1.5% 1.1% Specialty 4.5 4.6 15.2 14.7 1.6% -3
Slide 6: Consolidated Results – P&L
Consolidated Results – P&L In ₱ mn 4Q23 4Q24 FY23 FY24 4Q∆ FY∆ Net Sales 53,926 56,758 192,126 199,167 5.3% 3.7% SSSG 1.1% 3.4% 3.9% 1.5% Gross Profit 12,707 13,817 45,600 48,121 8.7% 5.5% Gross Margin 23.6% 24.3% 23.7% 24.2% EBITDA 4,791 5,299 16,442 17,027 10.6% 3.6% EBITDA Margin 8.9% 9.3% 8.6% 8
Slide 7: Net Sales and EBITDA Breakdown
Net Sales and EBITDA Breakdown Specialty stores, Specialty stores, 7.4% 4.9% Food, 60.4% DIY stores, 7.9% DIY stores, 5.9% Food, 62.1% Department Department stores, 8.3% stores, 7.0% Net Sales EBITDA (FY2024) (FY2024) Drugstores, 18.0% Drugstores, 18.1% 7
Slide 8: Store Network
Store Network Total of 2,453 stores plus 2,115 TGP Branches Metro Manila Luzon Visayas Mindanao Total Food 399 292 52 18 761 Luzon Drugstores1 147 466 351 169 1,133 Department Stores 9 20 12 9 50 Metro Manila DIY Stores 62 100 38 27 227 Visayas Specialty Stores 91 122 43 26 282 Total 708 1000 496 24
Slide 9: Food Segment
Food Segment Net Sales (₱ mm) Same Store Sales Growth ∆+4.6% 4.1% 114,931 120,274 3.4% ∆+6.1% 2.3% 33,545 31,621 0.3% 761 stores Robinsons 4Q2023 4Q2024 FY2023 FY2024 4Q2023 4Q2024 FY2023 FY2024 150 Supermarket Robinsons 141 Easymart Gross Profit (₱ mm) EBITDA (₱ mm) ∆+5.8% ∆+6.1% 15 Shopwise 25,756
Slide 10: Drugstore Segment
Drugstore Segment Net Sales (₱ mm) Same Store Sales Growth (1) ∆+7.3% 33,388 35,826 8.6% 7.1% ∆+5.9% 3.2% 8,952 9,483 1.6% 1,133 owned stores 4Q2023 4Q2024 FY2023 FY2024 4Q2023 4Q2024 FY2023 FY2024 2,115 franchised stores Gross Profit (₱ mm) EBITDA (₱ mm) ∆+9.7% ∆+2.1% 699 Southstar Drug 7,707 3,015
Slide 11: Department Store Segment
Department Store Segment Net Sales (₱ mm) Same Store Sales Growth ∆+2.1% 7.0% 6.6% 16,270 16,612 ∆+6.6% 2.0% 2.4% 5,499 5,861 4Q2023 4Q2024 FY2023 FY2024 4Q2023 4Q2024 FY2023 FY2024 Gross Profit (₱ mm) EBITDA (₱ mm) 50 stores ∆+3.1% ∆-7.7% 4,972 5,126 1,288 1,188 ∆+4.9% 49 ∆+8.2% 570 598 1,780 1 1,6
Slide 12: DIY Segment
DIY Segment Net Sales (₱ mm) Same Store Sales Growth ∆-4.2% 12,306 11,783 (0.5%) ∆-1.8% (2.0%) 3,321 3,262 (3.0%) (4.3%) 4Q2023 4Q2024 FY2023 FY2024 4Q2023 4Q2024 FY2023 FY2024 227 stores Gross Profit (₱ mm) EBITDA (₱ mm) ∆+0.9% ∆+8.0% 199 Handyman 3,820 1,337 3,787 1,238 28 True Value ∆+3.6% ∆-18.6
Slide 13: Specialty Segment
Specialty Segment Net Sales (₱ mm) Same Store Sales Growth ∆-3.7% 15,231 2.4% 14,671 1.7% ∆+1.6% 4,533 4,607 (2.2%) (3.9%) 4Q2023 4Q2024 FY2023 FY2024 4Q2023 4Q2024 FY2023 FY2024 282 stores Gross Profit (₱ mm) EBITDA (₱ mm) Appliances & ∆-12.8% 110 Electronics ∆+3.6% 994 4,060 4,207 866 42 Toys ∆+65
Slide 14: Working Capital
Working Capital FY2023 FY2024 8.2 Cash Conversion Cycle 6.8 Receivable Days 76.7 Inventory 73.9 14.6 Days 13.7 70.4 Payable 67.0 Days FY2023 FY2024 14
Slide 15: Balance Sheet
Balance Sheet December 31, 2023 December 31, 2024 in ₱ mn (Audited) (Unaudited) Cash & Cash Equivalents 13,173 14,157 Investment in Liquid Debt & Equity Securities 3,388 2,017 Total Assets 155,023 170,259 Total Debt 21,369 22,976 Total Equity 79,378 92,307 Return on Assets (trailing 12-months) 1 2.8
Slide 16: Capital Expenditures
Capital Expenditures Drugstores 12.9% Food 58.6% Department stores 6.2% DIY stores 13.0% Specialty stores 9.3% FY 2024 Organic Capex: ₱5.2 billion 16
Slide 17: Updates on O!Save (FY2024)
Updates on O!Save (FY2024) O!Save is a hard discount supermarket chain founded in 2021. It is operated by HD Retail Holding Pte Ltd, which RRHI has a 23% stake in. 401 280 sqm Number of Stores Average store size vs. 207 LY US$237mn 4 Distribution Centers Net Sales Pampanga, Rizal, vs. US$104mn LY Bu
Slide 18: Updates on G2M (FY2024)
Updates on G2M (FY2024) G2M Solutions Inc is a solutions provider that effectively owns 100% of Growsari, a tech-enabled platform that helps the Philippines’ over one million sari-sari stores. Launched in 2016, Growsari's business encompasses FMCG Commerce, Digital services, Financial services, and
Slide 19: Updates on GoTyme (FY2024)
Updates on GoTyme (FY2024) GoTyme is one of six digital banks in the Philippines and was publicly launched in October 2022. RRHI has a 19% stake in GoTyme 5.3mn 570 Total no. of customers Total no. bank kiosks vs. 2.1mn LY 402 located in RRHI stores 124.6mn ₱119bn Total no. of transactions* Total tr
Slide 20: Guidance for 2025
Guidance for 2025 Net store additions SSSG target of of 130-170 2%-4% 20-30bps gain on Organic CAPEX of gross margins ₱5.0-7.0bn 20
Slide 21: Thank you!
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Slide 22: Income Statement
Income For the Quarter Ended Twelve Months Ended December 31 December 31 2023 2024 2023 2024 PHP mm (Audited) (Unaudited) (Audited) (Unaudited) Statement Sales - net of sales discounts and returns 53,926 56,758 192,126 199,167 Cost of merchandise sold 41,219 42,941 146,526 151,046 Gross Profit 12,70
Slide 23: Balance Sheet
December 31 December 31 Balance (Audited) (Unaudited) PHP mm 2023 2024 Current Assets Cash and cash equivalents 13,173 14,157 Sheet Trade and other receivables 3,948 4,458 Merchandise inventories 29,668 31,672 Other current assets 1,682 1,542 Total Current Assets 48,471 51,829 Noncurrent assets Held
Slide 24: Cash Flow
Cash Flow December 31 December 31 (Audited) (Unaudited) 2023 2024 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 6,173 12,419 Depreciation and amortization including ROU amortization - PFRS 16 7,500 7,274 Retirement expense 317 339 Others including interest on Lease Liability-PFRS 16
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