Robinsons Retail Holdings, Inc. · PSE:RRHI
Robinsons Retail — Q1 2018 Earnings Presentation
23 slides from Robinsons Retail's earnings presentation, May 15, 2018
Slide 1: 1Q2018 Unaudited Earnings Results
1Q2018 Unaudited Earnings Results May 2018 20180515
Slide 2: Agenda
Agenda Financial Highlights Store Network Consolidated Results Business Segments Working Capital Capital Expenditure Recent Developments 2
Slide 3: 1Q2018 Financial Highlights
1Q2018 Financial Highlights 12.6% yoy lift in consolidated 1,715 net sales 20bps stores plus expansion 2,031 TGP in GP branches Strong EBITDA margin nationwide blended margin SSSG of kept at 6.4% 8.7% yoy 6.4% 13.7% yoy increase in increase in gross floor Core Net area (excl. TGP) income 3
Slide 4: Store Network: 1Q2018
Store Network: 1Q2018 1,715 stores plus 2,031 TGP branches 40.7% 35.0% 37.1% 43.3% 11.4%16.5% with gross floor area of 1.15 million sqm 1 5.5% 10.5% Metro Luzon Visayas Mindanao Manila Supermarkets 52 67 22 13 Department Stores 14 18 9 8 DIY Stores 55 82 38 20 Convenience Stores 316 148 25 - Drugsto
Slide 5: Store Network: 1Q2018 GFA Contribution
Store Network: 1Q2018 Gross Floor Area (GFA) RLC Outside RLC ∆+10.0% ∆+8.7% (in ‘000 sqm) 1,149 1,151 Store Count 1,578 1,718 1,588 1,715 1,045 1,060 300 332 301 329 1,278 1,386 1,287 1,386 2016 2017 1Q2017 1Q2018 2016 2017 1Q2017 1Q2018 GFA Contribution GFA Contribution by Segment (%) by Lessor (%)
Slide 6: 1Q2018 Consolidated Results
1Q2018 Consolidated Results Net Sales1 (₱ bn) Same Store Sales Growth ∆+9.4% 6.7% 6.4% 2.7% 3.2% 115.2 105.3 14.2 2016 2017 1Q2017 1Q2018 12.3 14.5 11.9 5.7 ∆+12.6% 5.7 12.3% 12.3 29.0 11.1 25.7 16.1 3.4 10.7% 15.8 2.9 3.8 46.8% 3.5 1.5 Net Sales 1.4 3.1 Breakdown 5.3% 2.8 3.6 3.3 48.5 52.4 13.2% 11
Slide 7: 1Q2018 Consolidated Results
1Q2018 Consolidated Results Gross Profit (₱ mm) EBITDA (₱ mm) ∆+12.0% ∆+11.3% 25,792 8,378 23,026 7,531 ∆+13.4% ∆+11.9% 1Q18 Highlights: 5,719 6,484 1,651 1,847 Gross profit 21.9% 22.4% 22.2% 22.4% 7.2% 7.3% 6.4% 6.4% margin 2016 2017 1Q2017 1Q2018 2016 2017 1Q2017 1Q2018 expanded by 20bps; EBIT (₱
Slide 8: Supermarket Business Segment
Supermarket Business Segment Net Sales (₱ mm) Gross Profit (₱ mm) ∆+8.0% Store ∆+9.2% Count 48,465 52,363 9,295 10,154 1Q2018 154 ∆+13.8% ∆+14.8% 2017 154 11,897 13,540 2,239 2,571 19.2% 19.4% 18.8% 19.0% 2016 140 2016 2017 1Q2017 1Q2018 2016 2017 1Q2017 1Q2018 1Q18 Highlights: Same Store Sales Grow
Slide 9: Department Store Business Segment
Department Store Business Segment Net Sales (₱ mm) Gross Profit (₱ mm) ∆+1.8% Store ∆+3.0% 15,828 16,116 Count 4,114 4,236 1Q2018 49 ∆+8.5% ∆+15.2% 2017 49 3,278 3,558 868 999 26.0% 26.3% 26.5% 28.1% 2016 43 2016 2017 1Q2017 1Q2018 2016 2017 1Q2017 1Q2018 1Q18 Highlights: Same Store Sales Growth EBI
Slide 10: DIY Store Business Segment
DIY Store Business Segment Net Sales (₱ mm) Gross Profit (₱ mm) ∆+10.7% Store ∆+12.6% 12,323 Count 11,129 3,946 3,504 1Q2018 195 ∆+10.3 ∆+11.1% 2017 193 2,813 3,103 912 1,014 31.5% 32.0% 32.4% 32.7% 2016 178 2016 2017 1Q2017 1Q2018 2016 2017 1Q2017 1Q2018 1Q18 Highlights: Same Store Sales Growth EBI
Slide 11: Convenience Store Business Segment
Convenience Store Business Segment Systemwide Sales & Net Sales Gross Profit + Royalty Income (₱ mm) 40.4% 39.8% (₱ mm) 39.6% Store 37.1% ∆+1.5% Count ∆-0.9% 8,514 8,640 System-wide sales 2,291 2,271 1Q2018 489 570 545 ∆+5.8% ∆+4.5% 2017 496 2,071 2,190 542 566 Net Sales 5,666 5,710 1,721 1,726 1,52
Slide 12: Drugstore Business Segment
Drugstore Business Segment Net Sales (₱ mm) Gross Profit (₱ mm) Store ∆+21.7% ∆+31.1% 14,518 Count 11,934 2,712 2,068 1Q2018 487 2,031 ∆+9.2% ∆+7.7% 2017 484 2,015 3,494 3,814 679 731 17.3% 18.7% 19.4% 19.2% 2016 412 1,912 2016 2017 1Q2017 1Q2018 2016 2017 1Q2017 1Q2018 1Q18 Highlights: Same Store S
Slide 13: Specialty Store Business Segment
Specialty Store Business Segment Net Sales (₱ mm) Gross Profit (₱ mm) ∆+15.9% ∆+20.8% Store 15,550 4,200 Count 13,416 3,476 1Q2018 341 ∆+17.5% ∆+14.7% 2017 342 3,147 3,698 895 1,027 25.9% 27.0% 28.4% 27.8% 2016 306 2016 2017 1Q2017 1Q2018 2016 2017 1Q2017 1Q2018 1Q18 Highlights: Same Store Sales Gro
Slide 14: Working Capital
Working Capital 2016 2017 1Q2018 Trade receivable days 6.9 7.1 6.7 Inventory days 60.6 60.7 59.4 74.7 72.5 Trade payable days 62.3 5.1 Cash Conversion Cycle -8.5 -4.8 14
Slide 15: Capital Expenditure
Capital Expenditure 2016 2017 1Q2018 Supermarkets 26% 41% 38% Department stores 10% 24% 24% DIY Stores 7% 11% 14% Convenience Stores 4% 4% 7% Drugstores 43% 8% 5% Specialty Stores 10% 12% 12% Total CAPEX (in ₱ mm) 5,620 3,105 683 % of net sales 5.3% 2.7% 2.4% 1 Includes acquisitions, expenses on lea
Slide 16: Robinsons Place Ormoc Opening
Robinsons Place Ormoc Opening 16
Slide 17: Robinsons Department Store, Toys 'R' Us and South Star Drug are now online
Robinsons Department Store, Toys ‘R’ Us and South Star Drug are now online 17
Slide 18: Acquisition of Rustan Supercenters, Inc.
Acquisition of Rustan Supercenters, Inc. 18
Slide 19: Thank you!
ROBINSONS RETAIL HOLDINGS, INC.
Slide 20: Income Statement (Unaudited)
Income Statement (Unaudited) Three Months Ended March 31 Years Ended December 31 PHP mm 2018 2017 2017 2016 Sales - net of sales discounts and returns 28,961 25,723 115,238 105,293 Cost of merchandise sold 22,477 20,004 89,446 82,267 Gross Profit 6,484 5,719 25,792 23,026 Royalty, rent and other rev
Slide 21: Balance Sheet (Unaudited)
Balance Sheet (Unaudited) March 31 December 31 PHP mm 2018 2017 ASSETS Current Assets Cash and cash equivalents 10,823 14,565 Trade and other receivables 2,143 2,235 Merchandise inventories 15,168 14,847 Other current assets 2,463 2,424 Total Current Assets 30,597 34,070 Noncurrent assets Available-
Slide 22: Cash Flow Statement (Unaudited)
Cash Flow Statement (Unaudited) Three Months Ended March 31 Years Ended December 31 PHP mm 2018 2017 2017 2016 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 1,713 1,429 7,303 6,667 Adjustments for: Depreciation and amortization 572 492 2,073 2,038 Retirement expense 38 31 171 117 Int
Slide 23: 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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