Robinsons Retail Holdings, Inc. · PSE:RRHI

Robinsons Retail — Q1 2024 Earnings Presentation

28 slides from Robinsons Retail's earnings presentation, Apr 26, 2024

  1. Slide 1: First Quarter 2024 Unaudited Earnings Results

    First Quarter 2024 Unaudited Earnings Results 26 April 2024 1

  2. Slide 2: Agenda

    Agenda 1 Performance Highlights 2 Store Network 3 Business Segments 4 Recent Developments 2

  3. Slide 3: 1Q2024 Performance Highlights

    1Q2024 Performance Gross Profit Highlights Consolidated Blended net sales SSSG ₱10.9bn ₱45.9bn 0.9% 3.6% Gross Margin: 2.9% 23.8%, +20bps EBIT Core Net Earnings Per Net Income Att. ₱1.9bn Earnings* to Parent Share^ 3.4% ₱1.2bn ₱5.1bn ₱3.49 EBIT Margin: 9.5x 9.6x 4.1%, flat 8.5% *Core Net Earnings: N

  4. Slide 4: Revenue Trends

    Revenue Trends 1Q23 1Q24 1Q∆ Blended Same Store Sales Food 27.1 28.1 3.4% Growth (SSSG) 11.8% Drugstores 8.0 8.8 10.4% 9.2% Department stores 3.2 3.2 -2.2% 3.9% DIY stores 2.9 2.7 -6.2% 0.9% Specialty stores 3.3 3.1 -6.4% FY2022 FY2023 1Q2023 1Q2024 TOTAL (₱ bn) 44.6 45.9 2.9% 4

  5. Slide 5: Consolidated Results – P&L

    Consolidated Results – P&L In ₱ mn 1Q2023 1Q2024 1Q∆ Net Sales 44,593 45,887 2.9% SSSG 9.2% 0.9% Gross Profit 10,529 10,911 3.6% Gross Margin 23.6% 23.8% EBITDA 3,641 3,673 0.9% EBITDA Margin 8.2% 8.0% EBIT 1,824 1,885 3.4% EBIT Margin 4.1% 4.1% Other Income - net (831) 3,587 Income Before Tax 993 5

  6. Slide 6: Net Sales and EBITDA Breakdown

    Net Sales and EBITDA Breakdown Specialty stores, 6.8% DIY stores, 5.9% Specialty stores, Food, 63.4% Food, 61.2% 4.0% Department stores, 6.9% DIY stores, 8.3% Net Sales Department EBITDA stores, 3.8% (1Q2024) (1Q2024) Drugstores, 19.2% Drugstores, 20.5% 6

  7. Slide 7: Store Network

    Store Network Total of 2,399 stores plus 2,120 TGP Branches Metro Manila Luzon Visayas Mindanao Total Food 400 287 52 17 756 Luzon Drugstores1 142 434 336 160 1,072 Department Metro Manila 9 20 12 9 50 Stores DIY Stores 61 98 38 27 224 Visayas Specialty Stores 89 138 38 32 297 Total 701 977 476 245

  8. Slide 8: Food Segment

    Food Segment Net sales (₱ mm) Same Store Sales Growth ∆+7.2% 107,192 114,931 9.5% 8.4% ∆+3.4% 3.4% 27,146 28,080 1.7% 756 stores FY2022 FY2023 1Q2023 1Q2024 FY2022 FY2023 1Q2023 1Q2024 Robinsons 151 Supermarket Robinsons Gross Profit (₱ mm) EBITDA(₱ mm) 130 Easymart ∆+9.5% ∆+7.2% 16 Shopwise 24,017

  9. Slide 9: Drugstore Segment

    Drugstore Segment Net sales (₱ mm) Same Store Sales Growth (1) ∆+13.2% 33,388 7.1% 6.5% 29,486 5.3% 5.9% ∆+10.4% 7,976 8,803 1,072 owned stores FY2022 FY2023 1Q2023 1Q2024 FY2022 FY2023 1Q2023 1Q2024 2,120 franchised stores Gross Profit (₱ mm) EBITDA(₱ mm) ∆+17.5% ∆+13.7% 658 Southstar Drug 7,026 ∆+

  10. Slide 10: Department Store Segment

    Department Store Segment Net sales (₱ mm) Same Store Sales Growth ∆+8.2% 15,031 16,270 53.4% 26.4% ∆-2.2% 7.0% 3,247 3,175 (2.1%) FY2022 FY2023 1Q2023 1Q2024 FY2022 FY2023 1Q2023 1Q2024 Gross Profit (₱ mm) EBITDA(₱ mm) ∆+9.4% ∆+0.6% 50 stores 1,279 1,288 4,546 4,972 ∆-1.4% ∆+0.2% 30.6% 31.1% 31.4% 8

  11. Slide 11: DIY Segment

    DIY Segment Net sales (₱ mm) Same Store Sales Growth ∆-0.8% 12,403 12,306 10.1% 2.9% ∆-6.2% 2,902 2,720 (0.5%) (6.5%) FY2022 FY2023 1Q2023 1Q2024 FY2022 FY2023 1Q2023 1Q2024 224 stores Gross Profit (₱ mm) EBITDA(₱ mm) ∆-1.7% ∆-19.9% 196 Handyman 3,852 3,787 1,546 ∆-5.0% ∆-3.7% 1,238 28 True Value 32

  12. Slide 12: Specialty Segment

    Specialty Segment Net sales (₱ mm) Same Store Sales Growth ∆+3.5% 18.2% 14,709 15,231 5.0% ∆-6.4% 2.4% 3,322 3,109 (7.1%) FY2022 FY2023 1Q2023 1Q2024 FY2022 FY2023 1Q2023 1Q2024 Gross Profit (₱ mm) EBITDA(₱ mm) 297 stores ∆+4.4% ∆-24.4% 120 Appliances & Electronics 4,060 1,315 3,890 ∆-3.0% 42 Toys 9

  13. Slide 13: Working Capital

    Working Capital 1Q23 1Q24 Cash Conversion Cycle 5.8 6.0 25.6 Receivable Days 79.6 Inventory 76.8 22.0 Days 60.6 Payable 60.0 Days 1Q23 1Q24 13

  14. Slide 14: Balance Sheet

    Balance Sheet Mar 31, 2023 Mar 31, 2024 in ₱ mn (Unaudited) (Unaudited) Cash & Cash Equivalents 11,389 9,835 Investment in Liquid Debt & Equity Securities (ex-BPI shares) 6,037 3,247 Total Assets 155,076 161,111 Total Debt 23,109 21,294 Total Equity 79,621 89,501 Return on Assets (trailing 12-months

  15. Slide 15: Capital Expenditures

    Capital Expenditures Drugstores 22% Department stores 13% DIY stores 8% Food 37% Specialty stores 20% 1Q2024 Capex: ₱846 million 15

  16. Slide 16: Updates on Minority Investments

    Updates on Minority Investments 16

  17. Slide 17: Updates on O!Save (1Q24)

    Updates on O!Save (1Q24) 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. 238 64k sqm Number of Stores Total Store Area vs 90 last year (270 sqm avg store size) US$47mn Net Sales vs $17mn last year 3 Pampanga, Ri

  18. Slide 18: Updates on Growsari/G2M

    Updates on Growsari/G2M G2M Solutions Philippines Pte Ltd is the Parent Company of Growsari, a tech-enabled platform launched in 2016. Growsari helps the broader Philippine population gain access to products and services through the network of 2 million MSMEs nationwide. FMCG Financial Digital B2B E

  19. Slide 19: Corporate Developments

    Corporate Developments 19

  20. Slide 20: Formation of Food Segment

    Formation of Food Segment President and CEO COO Food Segment Big Formats Small Formats 20

  21. Slide 21: Food Segment BU Head Appointments

    Food Segment BU Head Appointments Donna Rhia M. Leoncio Erneliza L. De Jesus Christine O. Tueres General Manager Group General Manager Managing Director Uncle John’s Robinsons Easymart, Robinsons Supermarket, Uncle John’s, No Brand The Marketplace, Shopwise Myleene A. Magleo Kerwin L. Legarde Genera

  22. Slide 22: Food, Drugstore Segments honor partners at Trade Partners Nights

    Food, Drugstore Segments honor partners at Trade Partners Nights Sanitary Care Products Asia, Inc. Oleo-Fats, Inc. Haleon Philippines, Inc. Ambica International Corporation 22

  23. Slide 23: TGP Annual Franchisees Summit

    TGP Annual Franchisees Summit 23

  24. Slide 24: Guidance for 2024

    Guidance for 2024 Net store SSSG additions of target of 100-120 3%-5% +10-20bps Organic gain in gross CAPEX of margins ₱4.0-6.0bn 24

  25. Slide 25: Thank You

    No Brand: 22< | a va — Bi aipobinsonsAPpliances

  26. Slide 26: Income Statement

    Income Statement Three Months Ended March 31 2023 (Unaudited) 2024 (Unaudited) Sales - net of sales discounts and returns 44,593 45,887 Cost of merchandise sold 34,064 34,976 Gross Profit 10,529 10,911 Royalty, rent and other revenues 335 364 Gross profit including other revenue 10,865 11,275 [Opera

  27. Slide 27: Balance Sheet

    December 31 March 31 Ba la nce Sheet (Audited) (Unaudited) 2023 2024 Current Assets. Cash and cash equivalents 13,173 9.835 Trade and other receivables 3,948 3,003 Merchandise inventories 29,668 30,584 Other current assets 1,682 1697 Total Current Assets 48,471 45,120 Noncurrent assets Held For Sale

  28. Slide 28: Cash Flow

    December 31 March 31 March 31 Cash Flow (Audited) (Unaudited) (Unaudited) 2023 2023 2024 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 6,173 993 5,472 ition including ROU amortization - PFRS 16 7,500 1818 1,788 Retirement expense 317 42 66 Others including interest on Lease Liability

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