20180807 Market Capitalization: 122.5bn (US$2.3 bn 1 ) as of Aug 6, - - PowerPoint PPT Presentation

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20180807 Market Capitalization: 122.5bn (US$2.3 bn 1 ) as of Aug 6, - - PowerPoint PPT Presentation

Dec 06, 2023 145 likes •511 views

20180807 Market Capitalization: 122.5bn (US$2.3 bn 1 ) as of Aug 6, 2018 We are one of the largest multi-format retailers in the Philippines 1 Forex Rate: 1USD= 53.146 PHP 2 Supermarkets Department Stores DIY Stores Convenience Stores

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20180807

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SLIDE 2

2 Market Capitalization: ₱122.5bn

(US$2.3 bn1) as of Aug 6, 2018

We are one of the largest multi-format retailers in the Philippines

1 Forex Rate: 1USD= 53.146 PHP

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3

100% 100% 80% 51% 90% 67% 100% 65% 100% 100% 100% 67% 100% 100% 59.4% 100% 20%

Supermarkets Department Stores DIY Stores Convenience Stores Drugstores Specialty Stores Parent Company

Robinson’s Supermarket Corporation

[Robinsons Supermarket]

Robinson’s Incorporated

[Robinsons Department Store]

Robinson's Handyman, Inc.

[Handyman Do it Best]

Robinsons Convenience Stores, Inc.

[Ministop]

South Star Drug, Inc.

[South Star Drug]

Robinsons Appliances Corp.

[Robinsons Appliances]

RHMI Management and Consulting, Inc. Angeles Supercenter,

  • Inc. [Robinsons

Supermarket]

Robinsons Ventures Corporation [Robinsons

Department Store]

Robinsons True Serve Hardware Philippines,

  • Inc. [True Value]

TGP Pharma Inc.

[The Generics Pharmacy]

Savers Electronic World, Inc.

[Savers Appliances]

RRHI Management and Consulting, Inc. Handyman Express Mart, Inc.

[Handyman Do it Best]

TheGenerics Pharmacy Franchising Corporation Robinsons Toys, Inc.

[Toys “R” Us]

RRG Trademarks and Private Labels, Inc. Waltermart- Handyman, Inc.

[Handyman Do it Best]

TheGenerics Pharmacy, Inc. Robinsons Specialty Stores, Inc. [Fashion

and Beauty]

RRHI Trademarks Management, Inc. RHI Builders and Contractors Depot

  • Corp. [Robinsons Builders]

Chic Centre Corporation

[Beauty]

New Day Ventures Limited Home Plus Trading Depot, Inc. [Home Plus] Robinsons Daiso Diversified Corp.

[Daiso Japan]

Robinsons Bank Corporation RHD Daiso-Saizen,

  • Inc. [Daiso Japan]

Robinsons Gourmet Food and Beverage,

  • Inc. [Costa Coffee]

75% 90% 40% 65% 100% 100% 100% 67% 65% 66.67% 51% 90% 100%

E-commerce

Taste Central Curators

  • Inc. [BeautyMNL]
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4

1 Net sales after intersegment eliminating adjustments; 2 Plus 2,015 franchised stores of The Generics Pharmacy by end 2017

48.3 57.4 67.3 80.4 90.9 105.3 115.2

2011 2012 2013 2014 2015 2016 2017

Net Sales1 (₱ bn)

631 912 1,064 1,327 1,506 1,578 1,718

2011 2012 2013 2014 2015 2016 2017

Store re Count2

1.9 3.0 5.1 5.8 6.4 7.5 8.4

2011 2012 2013 2014 2015 2016 2017

EBITD ITDA

(₱ bn; % of net sales)

4.0 .0% 5.3 .3% 7.5 .5% 7.2 .2% 7.0 .0% 7.2 .2%

2.8% 4.6% 2.6% 3.6% 4.1% 6.7% 2.7%

2011 2012 2013 2014 2015 2016 2017

Same Store Sales s Growth th

7.3 .3%

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SLIDE 5

5

Proven n track k recor

  • rd

d of format and brand nd extens nsio ion Diversif ifie ied d formats with marke ket-lead leading ing brands nds Strateg rategic c relat ationshi hip with th Robinsons Land Corporat ation Strong ng natio ionw nwid ide presenc nce and d scala lable ble expans nsio ion Strong ng infrastructure with specia iali lized d informatio ion n systems Highl hly experi rience ced lead adershi hip and manag agement

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6

Superm rmark rket

Mainstream Minimart Premium Cash & Carry

130 19 3 3

Note: Store Count as of June 30, 2018

Consum umer r electro ectroni nics & applianc nces es Toys One price e point nt Fashion Beauty uty Coffee ee shop

E-commer erce

124 85 75 40 15 16

DIY Mall-based Builders’ Depot

181 18

Drugs gstore re Owned Franchised

495 2,031

Conveni enienc nce store re

488

Departm rtment ent store re

50

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7

1980 1985 1994 2000 2004 2006 2007 2009 2011 2012 2013 2014 2015 2016 2017

2018 18

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8

es Metro Manila Luzon Visayas Mindanao Supermarkets

52 66 24 13

Department Stores

14 17 11 8

DIY Stores

59 81 39 20

Convenience Stores

316 147 25

  • Drugstores1

115 312 42 26

Specialty Stores

151 123 53 28

Total

707 746 194 95 95

TGP

494 1,040 293 204

stores

1,742

plus 2,031 TGP branches with gross floor area of

1.18 million sqm1

1 Excluding The Generics Pharmacy

40.6% 42.8% 11.1% 5.5% 34.7% 36.1% 18.0% 11.2%

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9

1,045 1,149 1,066 1,176

2016 2017 1H2017 1H2018

1,278 1,386 1,316 1,399 300 332 303 343

1,578 1,718 1,619 1,742

2016 2017 1H2017 1H2018

35% 31% 15% 4% 4% 11% 50% 50%

RLC Outside RLC

Store Count

Supermarkets Dept Stores DIY Stores Convenience stores Drugstores Specialty Stores

GFA Contr tribu buti tion

  • n

by Lessor

  • r (%)

GFA Contr tribu buti tion

  • n

by Segme ment t (%) Gross Floor

  • r Area (GFA)

(in ‘000 sqm)

RLC Outside RLC

∆+10.3% ∆+10.0%

Note: Excluding The Generics Pharmacy

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10

RRHI is developing community ty malls branded as Robinsons Townville where Robinsons Supermarket serves as the main anchor tenant

Cabanatuan GLA: 14,300 sqm Pulilan GLA: 7,800 sqm Buhay na Tubig GLA: 5,200 sqm Dasmariñas GLA: 4,100 sqm Parañaque GLA: 3,300 sqm Davao GLA: 12,600 sqm Dumaguete GLA: 3,900 sqm Nuvali GLA: 3,600 sqm Meycauayan GLA: 5,100 sqm Regalado GLA: 4,900 sqm

2008 2008 2015 2014 2013 2011 2013 2016 2009 2011

Note: Figures as of June 30, 2018

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11

Anchor tenant nt in Robinsons Malls and Robinsons Office Buildings Presence in prime locations ns Secure a strong pipeline of future re locations ns First opport rtun unity to assess the commercial feasibility

  • f a new site

49 49 18 18 109 17 17

Residential buildings and housing subdivisions

We have 343 stores occupying over 584,00 ,000 sqm of prime space in Robinsons Malls

Note: Figures as of June 30, 2018

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12

We are one of the most sought-after retailers by leading mall developers in the country, including regional malls

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13

Optimization across the supply chain

Wareho housi sing

Merchandi ndising ng

Business ss Analytics Customer er Analytics POS & Loyalty System ems Financial System em Supplier er Portal al & Analytics

Online real-time access to data

High service levels

Targeted marketing activities

Financial system, procurement, equipment maintenance and HR management

Accurate and timely financial data and facilitates analysis

Strong CRM functionality

Business intelligence solution for loyalty system that can analyze consumer behavior and segmentation

Ensure just in-time replenishments and delivery

Optimize inventory levels

Merchandise management systems

Analyze and optimize merchandise performance

Allow for proactive decisions

Business intelligence solution for merchandise, finance and HR

Enable to quickly identify changes in inventory and consumer preferences

Fully-integrated point-

  • f-sale solution

Smooth customer interaction with the use of intuitive cashier interface

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14

  • Cross-docking

ng system tem – all goods are sorted, consolidated and dispatched within a short rt period

  • f time
  • Low invento

entory ry carry rying ng costs ts via a stock operation system

  • Third

rd-pa party rty service e providers ers provide trucking / shipping services to ensure ure timel ely delivery ery

Distribution centers: 2

11,0 ,000 sqm

Distribution centers: 1

4,100 sqm

Distribution centers: 1

800 sqm

Distribution centers: 1

5,80 800 sqm

Distribution centers: 1

45 45,8 ,800 sqm

25 Distribution centers nationwide with total area of 136,300 sqm

Distribution centers: 1

2,300 sqm

Distribution centers: 1

700 sqm

Distribution centers: 4

34,000 sqm

Distribution centers: 9

16,1 ,100 sqm

Distribution centers: 4

15,7 ,700 sqm

Note: Figures as of June 30, 2018

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  • Group-wide loyal

alty ty card that was launched in May 2013;

  • Allows users to collect points through purchases

and redeem these points for shopping credits;

  • Currently accepted in all Robinsons Retail stores

(except in drugstores and convenience stores);

  • Approx. 1.2

2 millio ion members as of Jul 2018;

  • Supported by a business inte

telligence ce tool that can analyze customer profile and purchase habits

Robinson

  • ns Rewards

ds Card

  • Robinsons Retail’s credit

t card powered by Metrobank ank Card Corporat ation;

  • Incorporates retail rewards, special perks and

bundled promotions;

  • Cardholders enjoy

y 10% rebate ate for purchases made at Robinsons Retail stores on pre- determined payday weekends;

  • Around 74,500 cardholders as of Jun 2018

Robinson

  • ns Maste

terCa Card

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16

Antonio L. Go

Independent Director

Board of Direct ctors rs

John hn L. Gokongwei, Jr.

Chairman Emeritus and Director

James L. Go

Vice Chairman

Robina Y. Gokongwei-Pe Pe

Chief Executive Officer

Lisa Y. Gokongwei-Che heng

Director

Faith th Y. Gokongwei-Lim

Director

Hope Y. Gokongwei-Ta Tang

Director

Roberto to R. Romulo

Independent Director

Lance ce Y. Gokongwei

Chairman

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17

Robina Y. Gokongwei-Pe Pe

President and Chief Executive Officer

Bach ch Johan hann M. Sebasti tian

Senior Vice President and Chief Strategy Officer

Graci ciela a A. Banata tao

Treasurer

Rolly N. Salvador

Corporate Controller

  • Atty. Rosal

alinda a

  • F. Rivera

Corporate Secretary

  • Atty. Gilbert

t S. Millado Jr.

Assistant Corporate Secretary and General Counsel

Justi tinian ano S. Gadia

Managing Director – Supermarket Segment

Wilfred T. Co

Vice Chairman – Handyman Do it Best, True Value & Robinsons Builders

Celina a N. Chu hua

Group General Manager – Robinsons Department Store and Toys “R” Us

Gina a Roa- Dipal aling

Vice President – Corporate Planning and Investor Relations Officer

Mark O. Tansiongkun

Vice President – Procurement and Administration

Stephe hen M. Yap ap

Chief Information Officer

Faith th Y. Gokongwei-Lim

Group General Manager – Costa Coffee & Chic Centre

Agnes G. Rafiñan an

General Manager – The Generics Pharmacy

Stanley C. Co

Group General Manager – DIY, Pets and Mass Merchandise Segment

Thelma a Teresa a Roxas as-Jac acob

General Manager – Ministop

Patrici cia a Ann C. Famad ador

Digital Transformation Lead and AVP – Loyalty and Financial Products

Kathe therine Miche chelle Q. Yu

General Manager – Daiso Japan

Dahl hlia a T. Dy

Managing Director – South Star Drug & The Generics Pharmacy

Hope Y. Gokongwei- Tang

Group General Manager – Appliances Segment

Jose Paulo R. Lazar aro

General Manager – Robinsons Builders

Maria Carmina Pia a G. Quizo zon

General Manager – RSSI Fashion & Beauty Divisions

Manuel T. Dy

Senior Vice President – Business Development for Drugstore Segment

Jaime J. Uy

Managing Director – Savers Appliances

Gabriel D. Tagala III

Vice President – Human Resources

Christi tine O. Tueres

General Manager – South Star Drug

Paz Regina A. Salgado

Vice President – RDS Business Center

Mylene A. Kasiban

Chief Financial Officer

Lance ce Y. Gokongwei

Chairman

Benjam amin I. Liuson

Vice Chairman – The Generics Pharmacy

Senior r Management nt

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2.2% 6.6% 2.7% 6.5%

2Q2017 2Q2018 1H2017 1H2018

Same Store Sales Growth th 24.3 27.9 7.3 8.0

5.8 6.5 2.8 3.0 7.0 7.6 6.3 7.5

1H2017 1H2018

12.4 14.3 4.0 4.5

3.0 3.4 1.4 1.5 3.5 3.8 3.5 4.0

2Q2017 2Q2018 18

Supermarkets Department Stores DIY Stores Convenience stores Drugstores Specialty Stores

∆+13.5%

Net Sales1 (₱ bn)

∆+13.0%

Net Sales Breakdo down

27.8 31.5 53.5 60.5

1 Net sales after intersegment eliminating adjustments

46.1% 13.3% 10.7% 5.0% 12.6% 12.3%

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SLIDE 19

6,226 7,123 11,945 13,606

2Q2017 2Q2018 1H2017 1H2018

Gross Profi fit t (₱ mm)

1,149 1,329 1,992 2,287

2Q2017 2Q2018 1H2017 1H2018

Net t Income (₱ mm)

2,053 2,291 3,704 4,139

2Q2017 2Q2018 1H2017 1H2018

EBITDA DA (₱ mm)

1,557 1,752 2,715 3,027

2Q2017 2Q2018 1H2017 1H2018

EBIT (₱ mm)

22.4% 22.6% 22.3% 22.5% 5.6% 5.6% 5.1% 5.0% 7.4% 7.3% 6.9% 6.8% 4.1% 4.2% 3.7% 3.8%

19

∆+14.4%

2,282 2,622 1,286 1,410

Core Net Income1 Net Income attributable to parent company

∆+13.9% ∆+11.6% ∆+11.7% ∆+12.6% ∆+11.5%

  • ♦- Core net income as a % of net sales

1 Core net income = Net income – Equity in net earnings of an associate – Interest income – Foreign currency exchange gain (loss)

1H18 Highlights: Gross profit margin expanded by 20bps; EBITDA margin at 6.8% level; Net income attributable to parent up by 14.9%.

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2,407 2,775 4,646 5,346

2Q2017 2Q2018 1H2017 1H2018

Gross Profi fit t (₱ mm)

909 951 1,648 1,741

2Q2017 2Q2018 1H2017 1H2018

EBITDA (₱ mm)

19.4% 19.4% 19.1% 19.2% 12,389 14,324 24,286 27,864

2Q2017 2Q2018 1H2017 1H2018

Net t Sales (₱ mm)

1.2% 9.3% 2.0% 8.6%

2Q2017 2Q2018 1H2017 1H2018

Sam ame Store re Sales Growth th

140 154 155

2016 2017 1H2018

7.3% 6.6% 6.8% 6.2%

20

∆+15.6% ∆+14.7% ∆+15.3% ∆+15.1% ∆+4.6% ∆+5.6% 1H18 Highlights: Increase in net sales driven by new store additions (6.1%) and strong SSSG (8.6%); SSSG was robust due to higher consumption among salaried employees.

Store Count

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1,059 1,202 1,927 2,201

2Q2017 2Q2018 1H2017 1H2018

Gross Profit t (₱ mm)

258 271 416 432

2Q2017 2Q2018 1H2017 1H2018

EBITDA (₱ mm)

26.3% 27.0% 26.4% 27.5%

4,026 4,454 7,304 8,012

2Q2017 2Q2018 1H2017 1H2018

Net t Sales (₱ mm)

  • 2.6%

1.2%

  • 1.4%

1.1%

2Q2017 2Q2018 1H2017 1H2018

Sam ame Store re Sales Growth th

43 49 50 50

2016 2017 1H2018

6.4% 6.1% 5.7% 5.4%

21

∆+10.6% ∆+9.7% ∆+13.5% ∆+14.2% ∆+5.0% ∆+4.0% 1H18 Highlights: Increase in net sales driven by new store additions (8.6%) and strong SSSG (1.1%); Opened 2 new stores in Robinsons Place Ormoc and Robinsons Place Pavia Iloilo.

Store Count

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980 1,097 1,892 2,111

2Q2017 2Q2018 1H2017 1H2018

Gross Profit t (₱ mm)

306 352 561 645

2Q2017 2Q2018 1H2017 1H2018

EBITDA (₱ mm)

32.5% 32.5% 32.5% 32.6% 3,012 3,375 5,825 6,478

2Q2017 2Q2018 1H2017 1H2018

Net t Sales (₱ mm)

5.9% 6.2% 7.1% 5.6%

2Q2017 2Q2018 1H2017 1H2018

Sam ame Store re Sales Growth th

178 193 199

2016 2017 1H2018

10.2% 10.4% 9.6% 10.0%

22

∆+12.1% ∆+11.2% ∆+12.0% ∆+11.6% ∆+15.1% ∆+15.0%

Store Count

1H18 Highlights: Double–digit sales growth equally due to healthy SSSG and sustained expansion; Continued to benefit from the growing residential market.

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434 468 849 892 142 147 268 289

2Q2017 2Q2018 1H2017 1H2018

Gross Profi fit + Royalty y Income (₱ mm)

95 106 119 174

2Q2017 2Q2018 1H2017 1H2018

EBITDA (₱ mm)

41.4% 41.6% 40.5% 39.3% 1,390 1,480 2,757 3,005

2Q2017 2Q2018 1H2017 1H2018

Systemwide Sales & Net Sales (₱ mm)

2.2% 3.2% 1.3% 4.3%

2Q2017 2Q2018 1H2017 1H2018

Sam ame Store re Sales Growth th

499 496 488

2016 2017 1H2018

6.9% 7.2% 4.3% 5.8%

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∆+3.1% ∆+4.4% ∆+6.9% ∆+5.7% ∆+11.6% ∆+46.1%

Store Count

Net Sales System-wide sales

4,268 4,455 2,198 2,266 1,117 1,181 575 615

1H18 Highlights: Increased in purchasing power drives growth; Ratio of franchised to company- managed stores is now at 45:55.

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412 484 495 1,912 2,015 2,031

2016 2017 1H2018

633 719 1,312 1,450

2Q2017 2Q2018 1H2017 1H2018

Gross Profit t (₱ mm)

223 279 508 610

2Q2017 2Q2018 1H2017 1H2018

EBITDA (₱ mm)

18.2% 18.8% 18.8% 19.0% 3,471 3,827 6,965 7,641

2Q2017 2Q2018 1H2017 1H2018

Net t Sales (₱ mm)

2.9% 3.5% 3.4% 3.0%

2Q2017 2Q2018 1H2017 1H2018

Sam ame Store re Sales Growth th

6.4% 7.3% 7.3% 8.0%

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∆+10.2% ∆+9.7% ∆+13.6% ∆+10.5% ∆+25.4% ∆+20.1%

Store Count

1H18 Highlights: Increase in net sales propelled by new store openings and addition of The Generics Pharmacy; SSSG improved due to continuous efforts to address stock availability.

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SLIDE 25

1,005 1,182 1,900 2,209

2Q2017 2Q2018 1H2017 1H2018

Gross Profit t (₱ mm)

287 356 490 606

2Q2017 2Q2018 1H2017 1H2018

EBITDA (₱ mm)

26.7% 27.1% 27.5% 27.4% 3,764 4,363 6,912 8,060

2Q2017 2Q2018 1H2017 1H2018

Net t Sales (₱ mm)

7.5% 7.5% 7.0% 9.0%

2Q2017 2Q2018 1H2017 1H2018

Sam ame Store re Sales Growth th

306 342 355

2016 2017 1H2018

7.6% 8.2% 7.1% 7.5%

25

∆+15.9% ∆+16.6% ∆+17.6% ∆+16.3% ∆+23.9% ∆+23.7%

Store Count

1H18 Highlights: Expansion in net sales driven by the strong sales performance of most formats; Strong SSSG driven by appliances, Daiso Japan, beauty and Costa Coffee.

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26

Receivabl ble days Invento tory days Payable days Cash Conversion Cycle

2016 2017 1H2018 6.9 7.1 6.4 59.4 60.6 60.2 74.7 72.5 68.0

  • 8.5
  • 4.8
  • 1.4
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27

2016 2017 1H2018 18

Supermarkets

26% 41% 57%

Department stores

10% 24% 16%

DIY Stores

7% 11% 11% 11%

Convenience Stores

4% 4% 2% 2%

Drugstores

43% 8% 4% 4%

Specialty Stores

10% 12% 10%

Total CAPEX (in ₱ mm)

5,620 3,105 1,874

% of net sales

5.3% 2.7% 3.1%

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Chic Centre Corporation BeautyMNL Chavez Pharmacy (7 stores) Savers Appliances (24 stores) The Generics Pharmacy (1,800 stores) De Oro Pacific Home Plus (3 stores) EZ Supermarket/EZ Mart (6 stores) Jaynith’s Supermart (3 stores) Shiseido & Benefit (10 stores) A.M. Builders’ Depot (18 stores)

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29

On March 23, 2018, we signed an agreement with Dairy Farm for the acquisition of 100% shares of Rustan Supercenters, Inc.

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30

We are venturing into pet care retail through a franchise agreement with Pet Lovers Centre of Singapore

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31

Launch Brand Platf tform

June 2018 Zalora May 2018 Shopee Apr 2018 honestbee Apr 2018 Lazada Jan 2018 Lazada Dec 2017

(invested 20% stake)

BeautyM yMNL NL Oct 2017 Lazada May 2017 honestbee Apr 2017 Zalora Mar 2015 Lazada

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Launc nch of new retail l forma mats ts Organi nic expansion n of 100-120 new stores Higher er SSSG G target et

  • f 3%-5%

5% Expand nd e- commer merce e into

  • other

er forma mats ts GP margin expansion

  • f 10

10-20bp bps Opening of a bigger er distr tribu bution center ter

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SLIDE 33

Three Months Ended June 30 Six Months Ended June 30 PHP mm 2018 2017 2018 2017 Sales - net of sales discounts and returns 31,498 27,763 60,459 53,486 Cost of merchandise sold 24,376 21,537 46,852 41,541 Gross Profit 7,122 6,226 13,606 11,945 Royalty, rent and other revenues 605 602 1,175 1,114 Gross profit including other revenue 7,727 6,828 14,781 13,059 Operating expenses (5,975) (5,271) (11,754) (10,343) Earnings before interest and taxes 1,752 1,557 3,027 2,715 OTHER INCOME (CHARGES) Interest income 238 221 475 449 Foreign currency exchange gain - net 85 34 246 67 Dividend income 28 28 56 56 Equity in net earnings of an associate 42 40 81 65 Interest expense (29) (29) (55) (72) Others (53) − (53) − 312 294 749 564 INCOME BEFORE INCOME TAX 2,064 1,851 3,777 3,279 Provision for income tax 469 410 829 738 NET INCOME 1,595 1,441 2,948 2,542 Net income attributable to: Equity holders of the Parent Company 1,410 1,286 2,622 2,282 Non-controlling interest in consolidated subsidiaries 185 155 326 260 1,595 1,441 2,948 2,542 Earnings Per Share Basic 1.02 0.93 1.89 1.65 Weighted 1.02 0.93 1.89 1.65 Shares Outstanding End of Period 1,385 1,385 1,385 1,385 Weighted 1,385 1,385 1,385 1,385

33

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SLIDE 34

June 30 December 31 PHP mm 2018 2017 ASSETS Current Assets Cash and cash equivalents

10,897 14,565

Trade and other receivables

2,127 2,235

Merchandise inventories

15,592 14,847

Other current assets

2,468 2,424

Total Current Assets

31,084 34,070

Noncurrent assets Available-for-sale (AFS) financial assets

20,274 20,667

Property and equipment

14,404 13,601

Investment in associates

5,451 5,272

Other noncurrent assets

8,612 8,571

Total Noncurrent Assets

48,740 48,111

Total Assets

79,824 82,181

LIABILITIES AND EQUITY Current Liabilities Trade and other payables

17,598 17,774

Short-term loans payable

3,255 6,378

Other current liabilities

696 1,204

Total Current Liabilities

21,549 25,356

Total Noncurrent Liabilities

1,659 1,558

Total Liabilities

23,208 26,914

Equity Capital stock

1,385 1,385

Additional paid-in capital

27,227 27,227

Equity reserve

(1,022) (1,022)

Retained earnings

25,278 23,653

Others

(210) 290

Total equity attributable to equity holders

52,658 51,533

Non-controlling interest in consolidated

3,958 3,733

Total Equity

56,616 55,267

Total Liabilities and Equity

79,824 82,181

34

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SLIDE 35

PHP mm 2018 2017 2017 2016 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 3,777 3,279 7,303 6,667 Adjustments for: Depreciation and amortization 1,111 989 2,073 2,038 Retirement expense 77 62 171 117 Interest expense 55 72 127 87 Equity in net earnings in associates (81) (65) (124) (103) Dividend income (56) (56) (112) (112) Interest income (475) (449) (873) (827) Others (191) (67) 10 (160) Operating income before working capital changes 4,218 3,766 8,575 7,707 Working capital changes (2,066) (4,085) (740) (1,098) Interest received 792 450 864 962 Retirement – – (239) (9) Income tax paid (1,375) (1,043) (1,657) (1,393) Net cash flows generated from (used in) operations 1,569 (911) 6,804 6,169 Investment in associate AFS investments (63) (37) (267) (531) Property and equipment (1,874) (1,352) (3,105) (3,244) Acquisition through business combination – –

–

(2,180) Others (6) (36) (141) 30 Net cash flows used in investing activities (1,943) (1,425) (3,512) (5,924) CASH FLOWS FROM FINANCING ACTIVITIES Availment of loans 738 250 3,725 4,398 Payment of loans (3,861) (3,085) (3,923) (667) Dividends paid (116) – (1,624) (936) Others (55) 418 363 (87) Net cash flows used in financing activities (3,294) (2,417) (1,459) 2,709 Effect of forex on cash and cash equivalents 14 8 Net increase (decrease) in cash and cash equivalents (3,668) (4,754) 1,847 2,961 Cash and cash equivalents at beginning of year 14,565 12,718 12,718 9,757 CASH AND CASH EQUIVALENTS AT END OF PERIOD 10,897 7,964 14,565 12,718 Six Months Ended June 30 Years Ended December 31

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SLIDE 36

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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

  • r 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.