Cosco Capital, In Inc. 1Q 2018 Fina inancia ial l Resu sult lts In Investor r Presentatio ion 1
Disc iscla laim imer These presentations and/or other documents have been written and presented by COSCO CAPITAL, INC. (COSCO). COSCO is solely responsible for the accuracy and completeness of the contents of such presentations and/or other documents. Third parties, other than COSCO, do not have any responsibility for or control over the contents of such presentations and/or other documents. No endorsement is intended or implied notwithstanding the distribution of this presentation and/or other documents during the analysts and investors calls and meetings of COSCO. The materials and information in the presentations and other documents are for informational purposes only, and are not an offer or solicitation for the purchase or sale of any securities or financial instruments or to provide any investment service or investment advice. Head Of Hea Offic fice Add Address 2nd floor, Tabacalera Building, 900 Romualdez Street, Paco, Manila, 1007 Philippines 2
Company Overvie Co iew Pub ubli lic Luc Lucio io Co Co Fam amil ily 73% 73% 27% 27% 51% 51% 100 100% 100% 100 Commercia Com ial Real l Grocery Gr ry Retaili ling Li Liquor Di Distrib ibution Specia Spe ialt lty Retail ilin ing Es Estate 90% • Ellimac Prime Holdings, Inc., • Fertuna Holdings Corp., • Patagonia Holdings 100% Corp., • Nation Realty, Inc. • NE Pacific Shopping Centers Corporation • Pure Petroleum Corp., 3
Revenue & Net t In Income Co Contrib ibutio ion Revenues PATMI Liquor Distribution Real Estate Oil and Gas Specialty 3% 1% -3% retail 8% Specialty Retail 12% Liquor distribution 14% Grocery Grocery Retailing retailing 84% Real estate 58% 23% PHP 1.2 1.25 bill illion ion PHP 36 36.8 .8 bill illion ion 4
FY 2017 Consoli lidated Fin inancia ial l Hig ighli lights (In PHP millions) +13.9% +12.7% Revenues Gross Profit 40,000 38.0% 145,750 35,000 129,186 33.0% 116,752 30,000 24,322 21,912 25,000 28.0% 19,964 6,122 5,431 20,000 23.0% 17.1% 15,000 17.0% 16.8% 16.7% 16.6% 36,825 18.0% 32,325 10,000 13.0% 5,000 8.0% 2015 2016 2017 1Q 17 1Q 18 2015 2016 2017 1Q 17 1Q 18 GP GP Margin EBITDA +13.1% Net Income +9.4% 10,000 25.0% 16,000 30.0% 13,876 12,926 7,833 7,469 12,094 14,000 25.0% 6,987 8,000 20.0% 12,000 20.0% 10,000 6,000 15.0% 3,466 3,063 1,957 8,000 15.0% 1,789 10.0% 10.0% 9.5% 4,000 10.0% 9.5% 9.4% 6,000 5.8% 10.0% 6.0% 5.4% 4,000 5.5% 2,000 5.0% 5.3% 5.0% 2,000 0.0% 0.0% 2015 2016 2017 1Q 17 1Q 18 2015 2016 2017 1Q 17 1Q 18 NIAT NIAT Margin EBITDA EBITDA Margin 5
Grocery ry Retail ilin ing: 1Q 2018 Fin inancia ial l Hig ighli lights (In PHP millions) Revenues Gross Profit and Margin +12.2% +11.7% 124,491 25,000 20,655 24.0% 112,589 18,538 97,172 22.0% 20,000 16,489 20.0% 15,000 18.0% 16.0% 16.7% 16.6% 16.8% 17.0% 16.5% 10,000 30,884 14.0% 27,534 5,162 4,623 12.0% 5,000 10.0% 8.0% 2015 2016 2017 1Q 17 1Q 18 2015 2016 2017 1Q 17 1Q 18 GP GP Margin EBITDA and Margin Net Profit and Margin +13.4% +11.7% 10,644 ,000 20.0% 9,921 7,000 5,840 8,847 ,000 5,526 9.0 6,000 5,002 15.0% 8,000 7.0 5,000 2,616 2,308 6,000 10.0% 4,000 5.0 5.1% 9.1% 4.9% 8.8% 8.5% 4.7% 4.6% 8.4% 4.6% 8.5% 3,000 4,000 3.0 5.0% 1,425 1,275 2,000 2,000 1.0 1,000 0.0% - 2015 2016 2017 1Q 17 1Q 18 2015 2016 2017 1Q 17 1Q 18 EBITDA EBITDA Margin 6 NIAT NIAT Margin
Grocery ry Retail ilin ing: Operatio ional l High ighli lights • Puregold opened 10 10 new stores in 1Q 2018 • S&R opened 1 new S&R QSR • As of 1Q 2018, the Grocery Retailing segment is operating a tot otal of of 383 stores es • SSSG PGOLD only is at 5.1% while S&R is at 11.1% • Merger and conversion of NE Bodega and Budgetlane supermarket stores effective Ja January 1, , 2018 PUREGOLD S&R S&R QSR Metro Manila 118 6 22 Luzon 187 4 8 Visayas 22 2 1 Mindanao 9 2 1 Total 336 14 33 7
Liq Liquor Dis istrib ibutio ion: Products Teq equila la Brandy Br Brandy Br Jose Cuervo Alfonso Fundador Alfonso Light Fundador Light Whi hiskey Excelente Bushmills Whi hiskey Chivas Regal Teq equila la Jim Beam Cogn Co gnac Patron Glenfiddich Martel Whi hiskey Vod odka Johnnie Walker Absolut Jack Daniels Li Liqu queurs Jagermeister Var ario ious Wines nes Sp Specia ialt lty Be Beverages Red Bull Var ario ious Wines nes 8
Liquor Dis Liq istrib ibutio ion: 1Q 2018 Fin inancia ial l Hig ighli lights (In PHP millions) Revenues Gross Profit and Margin +46.4% +38.1% 2,500 48.0% 43.0% 2,000 6,663 38.0% 1,491 5,904 5,677 1,344 1,299 381 1,500 276 33.0% 28.0% 22.3% 1,000 23.0% 23.6% 22.8% 22.4% 1,712 22.9% 18.0% 1,169 500 13.0% 8.0% 2015 2016 2017 1Q 17 1Q 18 2015 2016 2017 1Q 17 1Q 18 GP GP Margin EBITDA and Margin Net Profit and Margin 950 30.0% 1,500 40.0% +33.6% +31.4% 850 1,300 35.0% 25.0% 660 750 1,006 628 1,100 30.0% 919 581 898 650 20.0% 900 25.0% 550 179 450 15.0% 700 20.0% 136 14.8% 350 16.2% 500 15.0% 17.0% 11.7% 10.0% 16.2% 253 11.6% 250 9.4% 10.5% 189 9.8% 13.5% 300 10.0% 150 5.0% 100 5.0% 50 -100 0.0% -50 0.0% 2015 2016 2017 1Q 17 1Q 18 2015 2016 2017 1Q 17 1Q 18 NIAT NIAT Margin EBITDA EBITDA Margin 9
Liquor Dis Liq istrib ibutio ion: Total l Volu lume Sa Sale les • 28% 28% gr growth th in to total volu olume of of cas ases sold sold in 1Q 1Q 2018 2018 • Growth driven by the increase in the brandy segment. Category 1Q 2018 Mix % 1Q 2017 Mix % Increase % Brandy 348,258 65% 268,219 65% 80,039 30% Other spirits 83,373 16% 67,658 16% 15,715 23% Wines 51,742 10% 38,986 9% 12,756 33% Specialty beverages 48,524 9% 40,907 10% 7,617 19% 531,898 100% 415,770 100% 116,128 28% Category Volume Sold (in cases) 1,556,417 1,829,472 2,170,058 2,500,000 415,770 531,898 199,534 2,000,000 263,627 147,036 217,210 113,628 325,180 1,500,000 185,260 48,524 318,061 40,907 306,487 1,000,000 51,742 38,986 1,380,717 83,373 1,147,165 67,658 951,042 500,000 348,258 268,219 - 2015 2016 2017 1Q 17 1Q 18 Brandy Other Spirits Wines Specialty beverages 10 10
Liquig Liq igaz: 1Q 2018 Fin inancia ial l High ighli lights (In PHP millions) Revenues Gross Profit and Margin +24% +2.6% 1,200 30.0% 999 932 1,000 25.0% 13,128 742 11,854 800 20.0% 8,927 230 600 224 15.0% 9.8% 8.3% 7.5% 400 10.0% 3,730 7.6% 3,008 6.2% 200 5.0% 0.0% FY 2015 FY 2016 FY2017 1Q 17 1Q 18 FY 2015 FY 2016 FY2017 1Q 17 1Q 18 GP GP Margin EBITDA and Margin Net Profit and Margin +8.1% +0.2% 469 843 500 20.0% 900 30.0% 733 399 450 18.0% 800 25.0% 400 16.0% 700 560 350 14.0% 273 600 20.0% 300 12.0% 500 250 10.0% 15.0% 400 101 101 199 200 8.0% 184 300 6.3% 10.0% 3.1% 6.2% 6.4% 150 6.0% 3.6% 3.4% 6.1% 3.4% 2.7% 5.3% 200 100 4.0% 5.0% 100 50 2.0% 0.0% 0.0% FY 2015 FY 2016 FY2017 1Q 17 1Q 18 FY 2015 FY 2016 FY2017 1Q 17 1Q 18 EBITDA EBITDA Margin NIAT NIAT Margin 11 11
Liq Liquig igaz: Operatio ional l Hig ighli lights LIQU IQUIGAZ PHILI ILIPPINES CORP RPORATION • 16.8% increase in total sales volume due to higher sales from wholesale and major clients in 1Q 2018 • New terminal facility in Sairaya, Quezon to start full commercial operations in 2H 2018 Total Volume (mT) 423,151 393,989 448,406 500,000 450,000 75,863 400,000 74,692 70,676 98,978 115,589 350,000 300,000 250,000 200,000 372,543 348,459 323,313 150,000 19,042 18,661 100,000 96,928 79,936 50,000 - 2015 2016 2017 1Q 17 1Q 18 Upstream Downstream 12 12
Offic fice Warehouse: 1Q 2018 Fin inancia ial l Hig ighli lights (In PHP millions) Revenues Gross Profit and Margin +13.4% +6.8% 600 80.0% 482 70.0% 500 417 1,825 60.0% 354 1,535 400 50.0% 123 115 1,302 300 40.0% 26.4% 27.2% 27.2% 26.1% 24.6% 30.0% 200 499 440 20.0% 100 10.0% 0.0% FY 2015 FY 2016 FY2017 1Q 17 1Q 18 FY 2015 FY 2016 FY2017 1Q 17 1Q 18 GP GP Margin EBITDA and Margin Net Profit and Margin -20.4% -35% 140 30.0% 70 10.0% 120 59 57 108 54 120 60 25.0% 97 8.0% 100 50 20.0% 16 6.0% 80 40 15.0% 31 3.6% 60 30 3.2% 10 4.0% 24 4.1% 7.1% 10.0% 6.9% 7.5% 6.6% 3.7% 40 20 4.9% 2.1% 2.0% 5.0% 20 10 0.0% 0.0% FY 2015 FY 2016 FY2017 1Q 17 1Q 18 FY 2015 FY 2016 FY2017 1Q 17 1Q 18 EBITDA EBITDA Margin NIAT NIAT Margin 13 13
Offic fice Warehouse: Operatio ional l Hig ighli lights OF OFFIC ICE WAREHOUSE, IN INC. C. • Strong growth driven by store expansion and enhanced product offerings • Office Warehouse opened 2 new store during 1Q 2018; closed down 1 store Y2015 Y2016 Y2017 Q12017 Q12018 83 No. Stores 59 71 82 72 Net selling area 11,036 sqm 14,014 sqm 15,945 sqm 14,445 sqm 16,382 sqm 14 14
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