Wilcon Depot, Inc. · PSE:WLCON
Wilcon Depot — FY2022 Earnings Presentation
21 slides from Wilcon Depot's earnings presentation, Mar 3, 2023
Slide 1: Earnings Conference Call
EARNINGS CONFERENCE CALL MARCH 03, 2023 | 4:00 PM
Slide 2: Fourth Quarter 2022 Results
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Slide 3: 4Q 2022 Results Highlights
4Q 2022 RESULTS HIGHLIGHTS Financial Highlights Comparable Sales Summary 4th QUARTER 2022 ✓ Php 8.848B Net Sales 10.4% SSSG BAUANG, LA UNION ✓ 18.5% y-o-y Net Sales 1.1% Transaction Count growth 9.2% Ticket Size SAN JOSE, NUEVA ECIJA ✓ Php 888M NIAT Total Sales Mix ✓ 28.3% y-o-y NIAT growth 51.3% In
Slide 4: Total Net Sales Breakdown – 4Q 2022
Total Net Sales Breakdown – 4Q 2022 Home 4Q2022 Projects, Home 4Q2021 Projects, Essentials, 106, 1.2% Essentials, 70, 0.9% Php Millions 180, 2.0% 139, 1.9% 18.5% Depots, Depots, 8,563, 96.8% 7,256, 97.2% Product Category Performance 4Q2022 VS 4Q2021 Better than Average • Paints & Sundries • Building
Slide 5: Comparable Sales Summary: Quarterly Trend
Comparable Sales Summary Quarterly Trend 5
Slide 6: Fourth Quarter 2022
FOURTH QUARTER 2022 (In Php MM) 4Q2022 % Sales 4Q2021 % Sales % Growth Net Sales 8,848 100.0 7,465 100.0 18.5 Cost of Sales -5,339 -60.3 -4,621 -61.9 15.5 GPM rate increased to 39.7% Gross Income 3,509 39.7 2,844 38.1 23.4 Operating Expenses -2,291 -25.9 -1,914 -25.6 19.7 Lease-related expense Inter
Slide 7: Twelve Months 2022 Results
TWELVE MONTHS 2022 RESULTS
Slide 8: FY2022 Results Highlights
FY2022 Results Highlights Financial Highlights Comparable Sales Summary Php 2.643B CAPEX ✓ Php 33.571B Net Sales 14.2% SSSG Opened 10 ✓ 22.0% y-o-y Net Sales 2.7% Transaction Count new stores growth 11.3% Ticket Size 1ST HALF 2022 ✓ Php 3.848B NIAT • Mayamot, Antipolo Total Sales Mix • Gapan, Nueva
Slide 9: Total Net Sales Breakdown – FY2022
Total Net Sales Breakdown – FY2022 FY2022 Home FY2021 Projects, Home Projects, Essentials, 192, 0.7% Essentials, 316, 0.9% Php Millions 530, 1.9% 641, 1.9% 22.0% Depots, Depots, 32,615, 97.2% 26,792, 97.4% Product Category Performance FY2022 VS FY2021 Better than Average • Building Materials • Paint
Slide 10: Comparable Sales Summary: Trend
Comparable Sales Summary Trend 10
Slide 11: For Year 2022
For Year 2022 (In Php MM) FY2022 % Sales FY2021 % Sales % Growth Net Sales 33,571 100.0 27,513 100.0 22.0 Cost of Sales -20,445 -60.9 -17,238 -62.7 18.6 GPM rate increased to 39.1% Gross Income 13,126 39.1 10,276 37.3 27.7 Operating Expenses -7,879 -23.5 -6,732 -24.5 17.1 Lease-related expense Inter
Slide 12: Balance Sheet
Balance Sheet Audited Dec 31, 2022 Audited Dec 31, 2021 Current Assets 17,385 17,189 Noncurrent Assets 18,258 15,149 Total Assets 35,643 32,337 Current Liabilities 7,659 8,880 Noncurrent Liabilities 7,441 5,979 Total Liabilities 15,100 14,859 Capital Stock 4,100 4,100 Additional Paid-in Capital 5,37
Slide 13: FY2022 CAPEX Investment
FY2022 CAPEX Investment 12M2022 Capex Breakdown Actual Spent Expansion-related 2,436 (new stores, renovations, eqpt, warehouses, etc) Solar Panel Project 98 IT Infrastructure and Projects 109 Total CAPEX (in millions Php) 2,643 13
Slide 14: Improving Margins
Improving Margins Note: ROU depreciation and interest expense charged on lease liability were considered as rent expense for 2019, 2020, 2021 and 2022. 14
Slide 15: Returning Value to Shareholders
Returning Value to Shareholders Cash Dividend per share over time: (Php/share) 15
Slide 16: Store network expansion and in-house products
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 16
Slide 17: 2023 Planned New Branches
2023 Planned New Branches 2023 64 Beg. Balance 83 6 Guiginto, Bulacan 1st Half Rosario, Batangas Lumbia, CDO 10 Parqal, Aseana San Fernando, Pampanga 2 2nd Half Sta. Maria, Bulacan 9 Total Planned New Naic, Cavite Depot/Home Essentials Stores - 8 Iligan City, Lanao del Norte Total number of stores i
Slide 18: FY2023 CAPEX Budget
FY2022 CAPEX Budget FY2023 Capex Breakdown Budget Expansion-related 3,438 (new stores, renovations, eqpt, warehouses, etc) Solar Panel Project 194 IT Infrastructure and Projects 214 Total CAPEX (in millions Php) 3,846 18
Slide 19: Thank You!
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Slide 20: Q&A
Slide 21: 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