MACQUARIE ASEAN CONSUMER & LIFESTYLE CONFERENCE - March 9, 2022
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MACQUARIE ASEAN
CONSUMER & LIFESTYLE CONFERENCE
March 9, 2022
Footnote
Company Profile
Established in 1980 and currently one of
the largest multi-format retailers in the
Philippines
• 2021 Consolidated net sales of
PHP153bn (US$3.0bn) with 5Y
CAGR of 8%
• Total of 2,208 stores plus 2,030 TGP
branches
• Operates e-commerce platform
GoRobinsons and four other format-
specific platforms
• Digital Investments in BeautyMnl,
Growsari and Edamama
• Network of over 5M users under the
Footnote
GoRewards Loyalty Program
2
Company Milestones
1980 1985 1994 2000 2006
We opened the 1st Our entry into The 1st Handyman • We entered electronics & We became
Robinsons Department food retail was store opened in appliances retailing with the exclusive
Store in Robinsons marked by the 1st Robinsons Galleria, Robinsons Appliances.
Robinsons licensee of
Place Manila. our 1st Do-it- • We brought Japan’s
Supermarket Toys “R” Us
Yourself format. Ministop to the Asia.
in Robinsons Place
Cebu. Philippines.
2007 2009 2012 2013
Our 1st major acquisition, We brought Daiso Japan We acquired 90% stake in • We launched our Loyalty Card
Southstar Drug, one of the Program to engage our
we acquired 66.7% of to the Philippines as the customers better.
True Value from Amon exclusive franchisee of country's biggest drugstore
chains. Founded by the Dy • We were listed in the Philippine
Trading Corporation. This the brand. Stock Exchange on Nov. 11,
family, it began to serve the
was our 2nd DIY format. 2013.
market in the Bicol region in
1937.
Footnote
3
Company Milestones
2014 2015 2016 2017
• We launched Robinsons Easymart, a minimart We acquired 90% of Savers We acquired 51% of TGP, We invested in 30%
format catering to urban residential areas. Appliances, an appliance the largest generics in Beauty MNL, the
• We entered the cosmetics landscape with the chain concentrated in drugstore chain in the biggest e-commerce
acquisition of Beauty Skinnovations Retail. Inc., Central Luzon and Cagayan country with close to 2000 site in the
licensed resellers of int’l cosmetics brands Valley. This was our 2nd Philippines.
Benefit and Shiseido. franchised stores.
appliances format
2018 2019 2020 2021
• Our biggest acquisition to date was Rustan Supercenters, • We were appointed • We launched our own e- We invested 13.3% in
Inc., which was structured as a share swap with Dairy Farm exclusive franchisee of commerce platforms: Edamama, an e-commerce
Intl. Ltd. Valued at around P18B. No Brand of Emart gorobinsons.ph, site selling baby products.
Korea. southstardrug.com.ph and
• We were appointed exclusive franchisee of Pet Lovers robinsonsappliances.com.ph
Centre Singapore, the biggest pet chain in SG. • We opened our first
.
• We invested in a convertible note issued by B2B platform Super50 store. • We acquired Rose Pharmacy
Growsari Inc., equivalent to 28.6%. from Dairy Farm Int’l Ltd.
Footnote
4
10 Formats with Market-leading Brands
SUPERMARKET
Supermarket: Minimart: Hypermarket: Specialty Grocery:
Mainstream Premium
DEPARTMENT STORE DIY CONVENIENCE STORE DRUGSTORE
Owned: Franchised:
APPLIANCES TOYS MASS MERCHANDISE BEAUTY PETS
Footnote
5
Extensive Store Network
With gross floor area of
Metro
1.51 million sqm1
Manila Luzon Visayas Mindanao
Supermarkets 124 110 36 16
Drugstores1 119 378 266 136
9%
DIY Stores 66 92 45 24 2%
Department Stores 11 20 12 9
Convenience Stores 282 154 20 0 45%
27%
Specialty Stores 88 132 39 29
Total 690 886 418 214
TGP 433 1,099 303 195
13% 5%
Total of 2,208 stores Gross Floor area per segment as % of total
plus 2,030 TGP Branches
Footnote 1 Excluding TGP
6
Robust Supply Chain Capabilities Support
23 Distribution Centers nationwide
with total area of 256,800 sqm
SUPERMARKET CONVENIENCE STORE
2 Distribution Centers
5 Distribution Centers
11,500 sqm
151,000 sqm
APPLIANCES
DRUGSTORE 5 Distribution Centers
7 Distribution Centers 25,000 sqm
24,600 sqm MASS MERCHANDISE
1 Distribution Centers
DIY CROSS DOCKING SYSTEM
8,500 sqm
2 Distribution Centers
All goods are sorted, consolidated and dispatched within a short period of
time
27,000 sqm DEPT STORE, TOYS & BEAUTY
LOW INVENTORY CARRYING COSTS
Footnote
1 Distribution Centers Via a stock operation system
9,200 sqm 7
• DAVI safeguards consumer data privacy and banks on
solutions for precision marketing and omnichannel
RRHI has 40% campaigns through unique consumer insights.
stake in Data
Analytics Ventures,
Inc. (DAVI), which
manages the • RRHI established Robinsons Rewards in 2013 as its first
GoRewards loyalty program, which was relaunched in May 2021 as
GoRewards.
Program. • GoRewards is a group-wide loyalty reward program with
over 5M members
• It allows users to earn and burn points when they purchase
Footnote
from RRHI’s banners and GoRobinsons
8
E-commerce Initiatives
& Digital Investments
Footnote
Online platforms
RRHI operates its own e-commerce site and is in
partnership with third party online marketplaces to serve
a wider range of customers.
BU e-commerce
GoRobinsons sites
Third-Party Partners
Group-wide online store
southstardrug.com.ph
launched in June 2020
rosepharmacy.com
robinsonsappliances.com.ph
saversappliances.com.ph
Footnote
10GoRobinsons is RRHI’s own e-commerce platform
dedicated to our formats
VIRTUAL MALL ASSET-LIGHT MODEL
Serves as the virtual GoRobinsons runs on an asset-
mall that houses our light model, leveraging on our
brands. extensive store network based
on customers’ location.
WEBSITE AND REWARDS PROGRAM
MOBILE APP
Customers can shop Customer loyalty program
via web thru the url GoRewards is integrated with
gorobinsons.ph or by GoRobinsons so customers
downloading the earn points when they shop.
app.
Footnote
11GoRobinsons has onboarded 12 banners
Most recent addition was Robinsons Appliances in Feb 2022
Footnote
12GoRobinsons runs on an asset-light business model
GoRobinsons Process Flow Supplier Store
DC
1 3
Customers go to GoRobinsons (GoR) Customer will choose the
App or browser. 2 delivery time and input their
Customers will input their location. orders.
GoR will display products available in
the serving store nearest the customer’s
address.
7
Rider delivers to 4 Order details will be
customers. reflected in the back-end
system, which will generate
6 5 the pick list.
Picker will get items
Picker brings cart to cashier. from shelf.
Footnote
13Drugstore and Appliances segments support RRHI’s e-
commerce strategy thru their own websites
southstardrug.com.ph robinsonsappliances.com.ph
rosepharmacy.com saversappliances.com.ph
Footnote
14RRHI Banners also offer
Call & Collect and Call to Deliver services
Footnote
15Investments in three online platforms
1. Growsari: B2B Delivery
• Growsari is the Philippines’ first tech start-up which provides B2B grocery delivery
services to sari-sari store owners through a mobile app. Merchandise is sourced from
Robinsons Supermarket branches.
• Growsari sources its goods from Robinsons Supermarket.
• Growsari has recently announced the first tranche of its Series C fundraising, with KKR
leading the round with a US$45mn investment. RRHI will participate in the subsequent
tranche.
Footnote
16Investments in three online platforms
2. BEAUTYMNL: No. 1 Filipino Online Site for Beauty
• BeautyMNL is the
biggest pure Filipino
online beauty site.
• It is one of the largest e-
commerce sites in the
Philippines.
• BeautyMNL offers
beauty, health &
wellness, cosmetics and
personal care products
and services.
• It launched its first
“Shop-in-Shop” concepts
at The Marketplace in
Shangri-La Plaza and
Robinsons Department
Store in Robinsons Place
Ermita last May.
• RRHI has a 30% stake in
BeautyMNL.
Footnote
17Investments in three online platforms
3. Edamama: Online access to baby products
Edamama is a B2C e-commerce platform for mothers in the Philippines to
shop for the most trusted childcare products and services, while
discovering authentic parenting content and advice.
There are many features within the platform which includes:
Gift Registry Users can create gift wish lists for special occasions
Subscribe and Save Online diaper subscription service launched in partnership
with Pampers
Explore One-stop destination to book online events and activities for
children
RRHI made the investment with 13.3% equity ownership upon
conversion
Potential collaborations with Robinsons Department Store and Toys 'R’ Us in terms of joint buying,
private labels, and click and collect programs.
Footnote
182021 Results and Highlights Footnote
FY2021 Performance Highlights
1.5% YoY Blended 3.5x
lift in SSSG of Growth on
consolidated
net sales -4.9% E-commerce
Sales
2,208 10bps 3 9. 2% YoY
stores plus 120bps increase in net
EBITDA
2,030 TGP lift in Gross income
margin
branches margin attributable to
expansion parent
nationwide
Footnote
20RRHI Consolidated Results
4Q20 4Q21 2020 2021
Supermarkets 23.6 24.7 94.1 88.6 3.2% 8.0%
6.1%
Drugstores 5.4 6.9 19.1 26.7
7.5%
DIY stores 3.7 3.2 11.4 11.5 Net Sales
Breakdown
Department stores 3.4 4.2 8.5 9.3 57.8%
17.4%
Convenience stores 1.4 1.3 4.8 4.9
Specialty stores 4.1 4.2 13.3 12.3
TOTAL (₱ bn)
Footnote 41.5 44.4 151.1 153.3
21RRHI Consolidated Results
In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆
E-commerce
Net Sales 41,494 44,400 151,070 153,327 7.0% 1.5% as % of Total Sales
SSSG (15.6%) 2.3% (8.9%) (4.9%)
Gross Profit 9,300 10,347 32,898 35,225 11.3% 7.1%
Gross Margin 22.4% 23.3% 21.8% 23.0% 0.9% 1.2%
EBITDA
EBITDA Margin
3,423
8.2%
4,103
9.2%
12,767 13,070 19.9%
8.5% 8.5% 1.0%
2.4%
0.1% 3.6%
EBIT 1,513 2,251 5,779 6,073 48.8% 5.1%
EBIT Margin 3.6% 5.1% 3.8% 4.0% 1.4% 0.1%
Net Income to Parent 825 1,768 3,217 4,477 114.4% 39.2% vs 1.1% FY2020
N.I. to Parent Margin 2.0% 4.0% 2.1% 2.9% 2.0% 0.8%
2021 Target: 2-3%
Core Net Income 558 1,697 2,711 3,774 204.0% 39.2%
Footnote
EPS 0.53 1.17 2.05 2.92 121.5% 42.4%
22Supermarket Segment
In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce
as % of Total Sales
Net Sales 23,627 24,660 94,121 88,630 4.4% (5.8%)
SSSG (2.3%) (1.2%) 7.7% (8.7%)
Gross Profit 5,244 5,458 19,625 19,030 4.1% (3.0%)
Gross Margin 22.2% 22.1% 20.9% 21.5% 3.7%
EBITDA 1,957 2,044 7,820 7,460 4.4% (4.6%)
EBITDA Margin 8.3% 8.3% 8.3% 8.4%
vs 1.1% FY2020
Has a total of 145
Robinsons
80
Robinsons
11
No
Supermarket Easymart Brand
286 stores
The
Footnote
34 Marketplace 16 Shopwise
23Drugstore Segment
In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce
as % of Total Sales
Net Sales 5,389 6,873 19,059 26,668 27.5% 39.9%
SSSG (1) (10.4%) 4.0% (0.1%) (0.7%)
Gross Profit 907 1,321 3,629 5,213 45.6% 43.6%
Gross Margin 16.8% 19.2% 19.0% 19.5% 4.4%
EBITDA 383 692 1,770 2,382 80.4% 34.6%
EBITDA Margin 7.1% 10.1% 9.3% 8.9%
vs 0.4% FY2020
Has a total of 899
Southstar Rose
owned & 2,030
franchised stores
582 Drug 317 Pharmacy 2,030 TGP
Footnote
(1) SSSG excludes TGP and Rose Pharmacy. TGP does not report systemwide sales and Rose Pharmacy was acquired end of October 2020 24DIY Segment
In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce
as % of Total Sales
Net Sales 3,651 3,196 11,358 11,501 (12.5%) 1.3%
SSSG (11.7%) (8.1%) (23.4%) 1.3%
Gross Profit 1,063 940 3,689 3,633 (11.5%) (1.5%)
Gross Margin 29.1% 29.4% 32.5% 31.6% 3.7%
EBITDA 532 373 1,772 1,420 (29.8%) (19.9%)
EBITDA Margin 14.6% 11.7% 15.6% 12.3%
vs 1.5% FY2020
Has a total of True Robinsons
227 stores
180 Handyman 31 Value 16 Builders
Footnote
25Department Store Segment
In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce
as % of Total Sales
Net Sales 3,354 4,169 8,451 9,326 24.3% 10.4%
SSSG (45.6%) 21.3% (52.0%) 8.7%
Gross Profit 916 1,220 2,499 2,792 33.2% 11.7%
Gross Margin 27.3% 29.3% 29.6% 29.9% 1.4%
EBITDA 178 591 282 605 232.2% 114.6%
EBITDA Margin 5.3% 14.2% 3.3% 6.5%
vs 0.7% FY2020
Has a total of
52 stores
Footnote
26Convenience Store Segment
In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce
as % of Total Sales
Net Sales 1,400 1,340 4,811 4,915 (4.3%) 2.2%
SSSG (38.9%) 4.6% (31.8%) (9.6%)
GP + Royalty Income 340 480 1,645 1,739 41.0% 5.7%
% of sales 24.3% 35.8% 34.2% 35.4% 2.7%
EBITDA 116 124 318 292 6.8% (8.1%)
EBITDA Margin 8.3% 9.2% 6.6% 5.9%
vs 0.9% FY2020
Has a total of
456 stores
105 Franchised 351 Direct
Footnote
27Specialty Stores Segment
In ₱ mn 4Q20 4Q21 2020 2021 4Q∆ FY∆ E-commerce
as % of Total Sales
Net Sales 4,073 4,163 13,271 12,287 2.2% (7.4%)
SSSG (27.6%) 15.6% (28.0%) 6.0%
Gross Profit 807 985 2,734 3,028 22.0% 10.8%
Gross Margin 19.8% 23.7% 20.6% 24.6% 3.0%
EBITDA 261 288 852 954 10.4% 12.0%
EBITDA Margin 6.4% 6.9% 6.4% 7.8%
vs 1.7% FY2020
Has a total of Appliances &
121 Electronics 41 Toys 14 Beauty
288 stores
Footnote Mass
108 Merchandise 4 Pet Retail
28Working Capital Cash Conversion
2020 2021 Cycle
7.6
Receivable 6.6 16.5
Days
77.5
Inventory 68.9
Days
4.1
72.4
Payable 67.6
Days
2020 2021
Footnote
29Capital Expenditures
2020 2021
Supermarkets 61% 60%
Drugstores 10% 13%
DIY stores 7% 5%
Department stores 9% 15%
Convenience stores 9% 3%
Specialty stores 4% 4%
TOTAL CAPEX (₱ mn) 1,868 2,440
Footnote
30Share Buyback Update
On February 11, 2022, the Board of Directors approved the
additional ₱1.0bn share buyback.
As of February 28, 2022
Total Amount Allotted for Share Buyback ₱ 5,000,000,000
Total Amount of Shares Repurchased
(excluding taxes and fees)
₱ 4,411,998,114
Remaining amount ₱ 588,001,886
Before Share Buyback As of February 28, 2022
Cumulative Number of Shares
Purchased to Date
- 78,354,250
Outstanding shares 1,576,489,360 1,498,135,110
Footnote
31Acquisition of the 40% stake in Ministop
Footnote
32Ultramart Acquisition
Ultramart is a 10-chain minimart-pharmacy format
Footnote
located in Cebu
33Bloomberg GEI Score: 64.87
RRHI is now part of the 2022 Bloomberg Gender Equality Index
Footnote
34Strengthening the
Ateneo Center for
Educational
Development (ACED) -
Robinsons Supermarket
Corporation partnership
• 231 beneficiaries in 5
communities in Quezon
City.
• Total Donation* in 2021 :
₱1.54M
* Fit for consumption but not fit
for sale food items, and gift
certificates
Footnote
35Robinsons
Supermarket wins in
two major categories
during the Golden
Grab Awards 2021
held
on November 19,
2021
Footnote
36Supermarket Segment ends 2021 with 105 DTI Gold Bagwis Awards
Footnote
37Protecting our
People
COVID-19 Vaccination
for employees and
dependents, and daily
monitoring of active
and suspected COVID-
19 cases
96% of our employees
are vaccinated
Footnote
381. Accelerate e-commerce and call to
collect/deliver presence;
2. Maximize and monetize data analytics;
3. Sustain offline expansion in underserved
BUSINESS territories;
ST R AT E G I E S 4. Continue to be on the look out for earnings
accretive M&As, both online and offline;
5. Embed and strengthen Sustainability within
RRHI, improve ESG scores over time, and focus
on the development of people across the
organization
Footnote
39Our Steps towards Sustainability
1. Helping SME’s
❖Provide growth opportunities for SMEs thru franchising. TGP has 476 franchisees operating 2,000
stores.
❖Strengthen Supermarket’s Farm-to-Table (FTT) Program by promoting sustainably-sourced
produce. There are currently close to 600 farmers involved in the program.
2. Scholarship Programs
❖Strengthen SSD’s scholarship program which currently has 125 scholars and 43 graduates now
employed in SSD.
3. Community Engagement
❖Continue to provide community support focused on vulnerable sectors by assisting NGOs such as
Footnote
World Vision and Make A Wish Philippines
40Plans and Prospects for 2022
Net store Organic SSSG
additions CAPEX of target of
of 140-150 ₱4.0-6.0bn 5%-10%
5%-7% 20-30bps
ecommerce gain in gross
contribution margins
Footnote
41Thank you. Footnote
Income Statement
Three Months Ended December 31 Twelve Months Ended December 31
2020 2021 2020 2021
PHP mm
(Audited) (Unaudited) (Audited) (Unaudited)
Sales - net of sales discounts and returns 41,494 44,400 151,070 153,327
Cost of merchandise sold 32,194 34,053 118,172 118,102
Gross Profit 9,300 10,347 32,898 35,225
Royalty, rent and other revenues 194 268 1,618 868
Gross profit including other revenue 9,494 10,616 34,516 36,094
Operating expenses (7,981) (8,364) (28,737) (30,021)
EBIT 1,513 2,251 5,779 6,073
EBITDA 3,423 4,103 12,767 13,070
OTHER INCOME (CHARGES) (316) (191) (1,361) (800)
INCOME BEFORE INCOME TAX 1,196 2,060 4,419 5,272
Provision for income tax 310 156 933 471
NET INCOME 886 1,904 3,486 4,802
Net income attributable to:
Equity holders of the Parent Company 825 1,768 3,217 4,477
Non-controlling interest in consolidated subs 62 136 269 324
886 1,904 3,486 4,802
Earnings Per Share
Basic 0.53 1.17 2.06 2.96
Weighted 0.53 1.17 2.05 2.92
Shares Outstanding
Footnote
End of Period 1,563 1,512 1,563 1,512
Weighted 1,565 1,514 1,571 1,535 43Balance Sheet
December 31 December 31
(Audited) (Unaudited)
PHP mm 2020 2021
Current Assets
Cash and cash equivalents 21,338 16,634
Trade and other receivables 3,144 2,770
Merchandise inventories 22,234 25,089
Other current assets 2,656 3,003
Total Current Assets 49,373 47,497
Noncurrent assets
Debt and equity instrument financial assets 13,932 11,805
Property and equipment 18,174 17,620
Right-of-use asset 25,038 22,066
Investment in shares of stocks 8,585 8,735
Intangible assets 22,673 22,672
Other noncurrent assets 3,822 4,029
Total Noncurrent Assets 92,224 86,927
Total Assets 141,596 134,424
LIABILITIES AND EQUITY
Current Liabilities
Trade and other payables 23,363 21,878
Short-term loans payable 9,584 7,734
Other current liabilities 3,322 3,645
Total Current Liabilities 36,269 33,257
Total Noncurrent Liabilities 27,737 24,882
Total Liabilities 64,006 58,139
Equity
Capital stock 1,576 1,576
Additional paid-in capital 40,768 40,768
Treasury stocks (810) (3,616)
Equity reserve (995) (995)
Retained earnings 32,079 33,743
Other comprehensive income 434 282
Total equity attributable to equity holders of Parent Company 73,052 71,758
Non-controlling interest in consolidated subsidiaries 4,538 4,527
Footnote
Total Equity 77,590 76,285
Total Liabilities and Equity 141,596 134,424
44Cash Flow
December 31 (Audited) December 31 (Unaudited)
PHP mm 2020 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Income before income tax 4,419 5,272
Depreciation and amortization 6,987 6,997
Retirement expense 185 261
Others 411 885
Operating income before working capital changes 12,002 13,415
Working capital changes (2,892) (4,289)
Interest received 667 441
Retirement contributions and benefits paid (395) (198)
Income tax paid (1,767) (942)
Net cash flows generated from (used in) operations 7,614 8,426
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in associate (412) (275)
Debt and equity instrument financial assets 872 2,582
Property and equipment (1,868) (2,440)
Acquisition of a subidiary (4,081) 0
Others 552 (199)
Net cash flows generated from (used in) investing activities (4,937) (332)
CASH FLOWS FROM FINANCING ACTIVITIES
Availment of loans, net of loan payment 4,950 (1,850)
Dividends paid (1,921) (3,147)
Payment of lease liabilities (3,935) (4,842)
Others (739) (2,965)
Net cash flows used in financing activities (1,645) (12,804)
Effect of forex on cash and cash equivalents 13 6
Footnote Net increase (decrease) in cash and cash equivalents 1,046 (4,704)
Cash and cash equivalents at beginning of year 20,293 21,338
CASH AND CASH EQUIVALENTS AT END OF PERIOD 21,338 16,634 45DISCLAIMER
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 cause the actual results or performance of RRHI to be materially
different from any future results or performance expressed or implied by
such forward looking statements. Such forward looking statements were
based on numerous assumptions regarding RRHI’s present and future
business strategies and the political and economic environment in which
RRHI will operate in the future.
Footnote
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