Wilcon Depot, Inc. · PSE:WLCON
Wilcon Depot — Q1 2023 Earnings Presentation
19 slides from Wilcon Depot's earnings presentation, Apr 28, 2023
Slide 1: Earnings Conference Call
EARNINGS CONFERENCE CALL APRIL 28, 2023 | 4:00 PM
Slide 2: First Quarter 2023 Results
® | ‘ rt | FIRST QUARTER 2023 RESULTS
Slide 3: 1Q 2023 Results Highlights
1Q 2023 RESULTS HIGHLIGHTS Financial Highlights Comparable Sales Summary 1st QUARTER 2023 ✓ Php 8.527B Net Sales 3.3% SSSG GUIGUINTO, BULACAN ✓ 11.4% y-o-y Net Sales -1.0% Transaction Count growth 4.4% Ticket Size ✓ Php 962M NIAT Total Sales Mix ✓ 13.1% y-o-y NIAT growth 50.4% In-house & exclusive ✓
Slide 4: Total Net Sales Breakdown – 1Q 2023
Total Net Sales Breakdown – 1Q 2023 Home 1Q2023 Projects, Home 1Q2022 Projects, Essentials, 50, 0.6% Essentials, 53, 0.7% Php Millions 169, 2.0% 138, 1.8% 11.4% Depots, Depots, 8,307, 97.4% 7,460, 97.5% Sales Growth per Store Format Product Category Performance 1Q2023 VS 1Q2022 1Q2023 VS 1Q2022 22.6
Slide 5: Comparable Sales Summary
Comparable Sales Summary Quarterly Trend Comparable Sales per Format 1Q2023 vs 1Q2022 11.3% 8.8% 6.0% 3.3% -2.3% DEPOT Home Essentials Projects -5.0% 5 1Q2023 1Q2022
Slide 6: First Quarter 2023
FIRST QUARTER 2023 (In Php MM) 1Q2023 % Sales 1Q2022 % Sales % Growth Net Sales 8,527 100.0 7,652 100.0 11.4 Cost of Sales -5,164 -60.6 -4,720 -61.7 9.4 GPM rate increased to 39.4% Gross Income 3,363 39.4 2,932 38.3 14.7 Operating Expenses -2,160 -25.3 -1,766 -23.1 22.3 Lease-related expense Interes
Slide 7: Balance Sheet
Balance Sheet Unaudited Mar 31, 2023 Audited Dec 31, 2022 Current Assets 18,201 17,385 Noncurrent Assets 18,544 18,258 Total Assets 36,745 35,643 Current Liabilities 9,281 7,659 Noncurrent Liabilities 7,476 7,441 Total Liabilities 16,757 15,100 Capital Stock 4,100 4,100 Additional Paid-in Capital 5,
Slide 8: 1Q2023 CAPEX Investment
1Q2023 CAPEX Investment 1Q2023 Capex Breakdown Actual Spent Expansion-related 582 (new stores, renovations, eqpt, warehouses, etc) Solar Panel Project 28 IT Infrastructure and Projects 13 Total CAPEX (in millions Php) 623 8
Slide 9: Improving Margins
Improving Margins 39.1 39.4 GPM 37.3 33.4 34.4 31.4 29.7 EBITDAM 18.6 18.5 15.8 13.1 11.9 11.9 15.2 EBITM 10.4 14.9 11.2 11.4 8.8 12.3 9.8 11.5 11.3 NPM 8.7 8.7 9.3 7.8 6.4 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 1Q2023 Note: ROU depreciation and interest expense charged on lease liability were co
Slide 10: Returning Value to Shareholders
Returning Value to Shareholders Cash Dividend per share over time: (Php/share) 10
Slide 11: Store network expansion
Store network expansion Continue to build and develop in- house products and carry exclusive brands Physical and online store layout, features and customer experience enhancements Further strengthen and increase brand awareness and visibility 11
Slide 12: 2023 Planned New Branches
2023 Planned New Branches 2023 Beg. Balance 83 Guiginto, Bulacan Jan, 2023 Rosario, Batangas 64 Mar, 2023 1st Half 7 HE - Uptown, CDO Apr, 2023 San Fernando 2, Pampanga Sta. Maria, Bulacan 10 Naic, Cavite 2nd Half Iligan City, Lanao del Norte 1 9 Tuy, Batangas Total, end 91 Total Planned New Other P
Slide 13: FY2023 CAPEX Budget
FY2023 CAPEX Budget 1Q2023 FY2023 Remaining Capex Breakdown Budget Actual Balance Spent Expansion-related (new stores, renovations, eqpt, warehouses, etc) 3,438 582 2,856 Solar Panel Project 194 28 166 IT Infrastructure and Projects 214 13 201 Total CAPEX (in millions Php) 3,846 623 3,223 13
Slide 14: 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 ✓ Enhance the Company’s ability to provide its • Expand product lines/ customers with value for money products product offerings ✓ Rationalize product offerings 14
Slide 15: Physical and online store layout, features and customer experience enhancements
Physical and online store layout, 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 15
Slide 16: Further Strengthen and Increase Brand Awareness and Visibility
Further Strengthen and Increase Brand Awareness and Visibility ✓ Tap various media outlets especially social media to enhance customer’s awareness ✓ Localization of advertising and promotions ✓ Use brand ambassadors to represent the Company’s products and brands ✓ Actively participate in industry as
Slide 17: Thank You!
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Slide 18: Q&A
Slide 19: 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