Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — 9M2020 Earnings Presentation
27 slides from Robinsons Retail's earnings presentation, Oct 29, 2020
Slide 1: 9M2020 Unaudited Earnings Results
ROBINSONS IA RETAIL HOLDINGS, INC. 9M2020 UNAUDITED EARNINGS RESULTS October 29, 2020 SOBTeOOBA
Slide 2: Agenda
AGENDA Financial Highlights Consolidated Results Store Network Business Segments Recent Developments Plans & Prospects
Slide 3: Financial Highlights
FINANCIAL HIGHLIGHTS -5.7% shortfall in consolidated 1,853 net sales stores plus GP margin 2,033 TGP at 21.5% branches of sales Weak nationwide EBITDA blended margin SSSG of at 8.5% -6.4% 1.45M of sales Net sqm in income gross floor attributable area to parent co (excl. TGP) at ₱2.4bn
Slide 4: 9M2020 Consolidated Results
9M2020 CONSOLIDATED RESULTS 3Q19 3Q20 9M19 9M20 64.3% Supermarkets 21.8 21.9 63.7 70.5 4.7% Department Net Sales 3.7 1.4 11.9 5.1 7.0% stores Breakdown 3.1% DIY stores 3.5 2.9 10.4 7.7 12.5% Convenience 1.6 0.9 4.9 3.4 8.4% stores Drugstores 4.4 4.3 13.0 13.7 Same Store Sales Growth Specialty 4.3 3.
Slide 5: Store Network: 9M2020
STORE NETWORK: 9M2020 1,853 stores plus 2,033 TGP branches 38.6% 34.7% 45.0% 37.1% 11.0% with gross floor area of 17.2% 1.45 million sqm1 5.6% 10.8% Metro Luzon Visayas Mindanao Manila Supermarkets 111 100 36 16 Department Stores 11 19 10 9 DIY Stores 68 87 44 24 Convenience Stores 305 153 23 - Drug
Slide 6: Consolidated Results
CONSOLIDATED RESULTS in ₱ mm 3Q20191 3Q2020 9M20191 9M2020 3Q ∆ 9M ∆ Net Sales 38,948 34,614 116,159 109,576 (11.1%) (5.7%) Same Store Sales Growth 1.9% (11.7%) 3.2% (6.4%) - - Gross Profit 9,029 7,939 26,690 23,598 (12.1%) (11.6%) Gross Margin (%) 23.2% 22.9% 23.0% 21.5% - - EBITDA2 3,670 3,161 10,
Slide 7: Supermarket Segment
SUPERMARKET SEGMENT in ₱ mm 3Q20191 3Q2020 9M20191 9M2020 3Q ∆ 9M ∆ Net Sales 21,769 21,888 63,720 70,495 0.5% 10.6% Same Store Sales Growth 2.2% 2.1% 3.6% 11.5% - - Gross Profit 4,678 4,765 13,373 14,381 1.9% 7.5% Gross Margin (%) 21.5% 21.8% 21.0% 20.4% - - EBITDA2 1,802 1,935 4,753 5,862 7.4% 23.
Slide 8: Department Store Segment
DEPARTMENT STORE SEGMENT in ₱ mm 3Q20191 3Q2020 9M20191 9M2020 3Q ∆ 9M ∆ Net Sales 3,694 1,432 11,918 5,097 (61.2%) (57.2%) Same Store Sales Growth 0.2% (59.0%) (0.6%) (55.4%) - - Gross Profit 996 488 3,286 1,583 (51.0%) (51.8%) Gross Margin (%) 27.0% 34.1% 27.6% 31.1% - - EBITDA2 201 22 811 104 (89
Slide 9: DIY Segment
DIY SEGMENT in ₱ mm 3Q20191 3Q2020 9M20191 9M2020 3Q ∆ 9M ∆ Net Sales 3,487 2,858 10,373 7,707 (18.0%) (25.7%) Same Store Sales Growth 0.5% (18.6%) 2.6% (27.7%) - - Gross Profit 1,171 1,018 3,442 2,627 (13.1%) (23.7%) Gross Margin (%) 33.6% 35.6% 33.2% 34.1% - - EBITDA2 594 542 1,727 1,240 (8.7%) (2
Slide 10: Convenience Store Segment
CONVENIENCE STORE SEGMENT in ₱ mm 3Q20191 3Q2020 9M20191 9M2020 3Q ∆ 9M ∆ Systemwide Sales 2,427 1,285 7,177 4,931 (47.0%) (31.3%) Net Sales 1,647 929 4,909 3,411 (43.6%) (30.5%) Same Store Sales Growth 3.5% (44.3%) 2.7% (29.6%) - - Gross Profit 162 144 486 360 (10.6%) (26.0%) Royalty Income 477 217
Slide 11: Drugstore Segment
DRUGSTORE SEGMENT in ₱ mm 3Q20191 3Q2020 9M20191 9M2020 3Q ∆ 9M ∆ Net Sales 4,407 4,325 12,989 13,669 (1.9%) 5.2% Same Store Sales Growth 9.8% (3.0%) 10.7% 3.5% - - Gross Profit 875 858 2,550 2,722 (1.9%) 6.8% Gross Margin (%) 19.9% 19.8% 19.6% 19.9% - - EBITDA2 461 439 1,271 1,386 (4.7%) 9.1% EBITD
Slide 12: Specialty Store Segment
SPECIALTY STORE SEGMENT in ₱ mm 3Q20191 3Q2020 9M20191 9M2020 3Q ∆ 9M ∆ Net Sales 4,299 3,181 13,387 9,198 (26.0%) (31.3%) Same Store Sales Growth (2.6%) (22.1%) 1.3% (28.1%) - - Gross Profit 1,147 666 3,553 1,926 (42.0%) (45.8%) Gross Margin (%) 26.7% 20.9% 26.5% 20.9% - - EBITDA2 452 226 1,425 590
Slide 13: Working Capital
WORKING CAPITAL 2018 2019 9M2020 8.7 8.7 Receivable days 8.5 66.1 64.3 Inventory days 57.5 87.2 72.9 61.7 Payable days 11.2 Cash Conversion Cycle -12.4 -6.7 13
Slide 14: Capital Expenditures
CAPITAL EXPENDITURES In Php M 2018 2019 9M2020 Supermarkets 52% 44% 60% Department stores 14% 10% 10% DIY stores 10% 14% 9% Convenience stores 5% 14% 9% Drugstores 3% 4% 8% Specialty stores 16% 14% 4% TOTAL (Php M) 4,419 3,346 1,303 % of net sales 3.3% 2.1% 1.2% 14
Slide 15: E-commerce to Total Sales
E-COMMERCE TO TOTAL SALES 1.0% 0.7% 0.2% 3M20 6M20 9M20 Notes: Includes sales from call & collect/delivery service 15
Slide 16: Acquisition of Rose Pharmacy
ACQUISITION OF ROSE PHARMACY 16
Slide 17: Acquisition of Rose Pharmacy
ACQUISITION OF ROSE PHARMACY 17
Slide 18: RRHI in Forbes Best Employers List
RRHI IN FORBES BEST EMPLOYERS LIST 18
Slide 19: New Independent Director appointed
On August 12, 2020, Mr. Cirilo Noel was appointed as RRHI’s newest Independent Director 19
Slide 20: Embedding Sustainability
EMBEDDING SUSTAINABILITY Breakfast Festival: The Marketplace donated food packs during to hospitals from July 15, 25 and August 1, 2020 as way to show solidarity with medical frontliners. 20
Slide 21: Embedding Sustainability
EMBEDDING SUSTAINABILITY 21
Slide 22: Plans and Prospects for 2020
PLANS AND PROSPECTS FOR 2020 New store Organic additions of SSSG CAPEX of 280 to 310 target of Php1.0bn (including -5% to 0% M&As) to Php2.0bn 50 to 100 bps compression Embedding E-commerce in gross Sustainability margin 22
Slide 23: Robinsons Retail
y ROBINSONS RETAIL
Slide 24: Income Statement (Unaudited)
INCOME STATEMENT (UNAUDITED) Three Months Ended September 30 Nine Months Ended September 30 PHP mm 2020 2019 2020 2019 Sales - net of sales discounts and returns 34,614 38,948 109,576 116,159 Cost of merchandise sold 26,675 29,919 85,978 89,469 Gross Profit 7,939 9,029 23,598 26,690 Royalty, rent an
Slide 25: Balance Sheet (Unaudited)
BALANCE SHEET (UNAUDITED) September 30 December 31 (Unaudited) (Audited) PHP mm 2020 2019 Current Assets Cash and cash equivalents 15,604 20,293 Trade and other receivables 3,419 3,865 Merchandise inventories 20,183 19,810 Other current assets 2,902 2,951 Total Current Assets 42,109 46,920 Noncurren
Slide 26: Cash Flow Statement (Unaudited)
CASH FLOW STATEMENT (UNAUDITED) Nine Months Ended September 30 December 30 (Audited) PHP mm 2020 2019 2019 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 3,223 4,336 6,110 Depreciation and amortization 5,077 5,090 6,880 Retirement expense 120 107 192 Interest expense 1,684 1,973 2,578
Slide 27: 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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