Robinson Department Store Public Company Limited

Transcription

1 Robinson Department Store Public Company Limited

2 TODAY Agenda Agenda 1 Agenda 2 Agenda 3 Agenda 4 Agenda 5 Highlight Results 1Q13 Key Achievements Financial Highlights Investment Plan Q&A ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 2

3 Agenda 1 Agenda 2 Agenda 3 Highlight Results Agenda 4 Agenda 5 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 3

4 Highlight Results As of 31 March 2013, ROBINSON operates 30 stores; 10 stores in greater Bangkok and 20 stores in upcountry Ratchadapisek branch closed down on 26 March (Million Baht) 1Q13 1Q12 %Change Total sales 6,305 5, % Gross margin 23.7% 24.8% -112bps EBITDA % Core net profit % EBITDA = EBIT + Depreciation and Amortization + non cash items (exclude share of net profit from associates) Core net profit = net profit - share of profit of associates non recurring items ROBINSON W W W. DEPARTMENT R O B I N S STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 4

5 Market Situation Thai economy expanding at slower pace CCI increased consecutively because consumers remained their confidence in overall economy PCI growth decelerated throughout the quarter. Farm price and Farm income continued to decline. Exports were affected by Baht appreciation Only number of foreign tourist arrivals continued to generate a good growth. Consumer Confident Index (CCI) ,000 2,500 2,000 1,500 1, Priavte Consumption Index (PCI) No. of Foreign Tourists (' 000 Persons) Source : BOT, NESDB and The Center for Economic and Business Forecasting, UTCC ROBINSON W W W. DEPARTMENT R O B I N S STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 5

6 Agenda 1 Agenda 2 Agenda 3 1st Quarter 2013 Key Achievements Agenda 4 Agenda 5 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 6

7 Offering New Brands ROBINSON W W W. DEPARTMENT R O B I N S STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 7

8 Promoting Private Brands ROBINSON W W W. DEPARTMENT R O B I N S STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 8

9 Marketing Events ROBINSON W W W. DEPARTMENT R O B I N S STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 9

10 Strengthening Customer Loyalty ROBINSON W W W. DEPARTMENT R O B I N S STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 10

11 Ratchadapisek Branch Closing Down Promotion ROBINSON W W W. DEPARTMENT R O B I N S STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 11

12 Agenda 1 Agenda 2 Agenda 3 Financial Highlights Agenda 4 Agenda 5 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 12

13 Revenue Breakdown Net Sales 92% Revenue Breakdown in 1Q13 Other Income 8% Amount (Million Baht) 1Q13 1Q12 % Change Net sales 6,305 5, % Investment income % Share of profit from associates % Others* % *1Q12 included gain on disposal of investments in subsidiary amounting to Baht 46 million ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 13

14 Sales Growth Net Sales 15.2% 19.2% 22.6% (%Growth) 3.4% g = 24.3% SSSG* TSG 12,842 14,794 17,630 21, % 7.9% 12.0% 10.3% 3.4% 15.2% 19.2% 22.6% 5,071 6,305 1Q12 1Q12 1Q13 1Q % 5.1% 23.6% 24.3% Calculation base on number of stores fully operated throughout the previous year i.e. in 1Q13 SSSG excluding Suphanburi, Bangna, Surathtani, Bangkae, Lumpang, Kanchanaburi, and Ratchadapisek Ratchadapisek branch closed down on 26 March 2013 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 14

15 Gross Profit Margin 23.4% 23.8% 24.4% 24.6% 24.8% 23.7% g = 18.7% 3,001 3,520 4,304 5,309 1,258 1, Q12 1Q13 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 15

16 SG&A to Sales 23.5% 22.3% 21.3% 22.1% 17.2% 20.5% 15.8% 6% 4% Personnel D&A Utilities Rent 2% Marketing 3,016 3,298 3,752 4,782 1, Q13 SG&A %SG&A to sales %Operating cost to sales 0% Q13 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 16

17 EBIT and Operating Profit Operating profit* (%margin) 9.0% 9.6% 11.3% 10.4% 11.9% 10.7% g = 11.9% 1,156 1,419 1,997 2, (%margin) 10.5% 11.3% 12.5% 13.0% 15.4% 12.0% EBIT g = -2.9% 1,349 1,671 2,202 2, * Operating profit = EBIT - share of profit of associates *2010 and 2012 excluded non-recurring items ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Q12* 1Q13 Page 17

18 Net Profit and Core Net Profit Core net profit* (%margin) 6.4% 6.5% 7.1% 7.0% 7.9% 7.5% g = 18.2% ,248 1, (%margin) 7.9% 8.2% 8.2% 9.5% 11.1% 8.7% Net profit g = -2.0% 1,013 1,214 1,453 2, * Core net profit = net profit - share of profit of associates *2010 and 2012 excluded non-recurring items ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Q12* 1Q13 Page 18

19 EBITDA & EBITDA Margin EBITDA = EBIT + Depreciation and Amortization + / non cash items (exclude share of net profit from associates) 14.0% 14.4% 15.8% 15.3% 16.4% 15.4% g = 17.0% 1,798 2,137 2,782 3, * * Q12* 1Q13 *2010 and 2012 excluded non-recurring item ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 19

20 Strong Financial Position Consolidated Financial Statements as of 31 Mar 2013 (Million Baht) Cash + current investments 3,841 PP&E + leasehold rights 9,897 Total assets 17,565 Liabilities 6,082 Share capital 3,943 Legal reserve 394 Retained earnings 6,436 Total equity 11,483 Operating on no-debt balance sheet Net DE(x) ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 20

21 Agenda 1 Agenda 2 Agenda 3 Investment Plan Agenda 4 Agenda 5 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 21

22 New Store in 2013 The investment cost of a new store is approximately 500-1,000 MB/store. Location Opening Date Kanchanaburi 28 Feb 2013 Ubonratchathani 5 April 2013 Sakonnakorn 3Q13 Surin 4Q13 Saraburi 4Q13 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 22

23 New Store in 2013 Grand Opening Date: 28 February 2013 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 23

24 New Store in 2013 Robinson Kanchanaburi Interior Decoration ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 24

25 New Store in 2013 Grand Opening Date: 6 April 2013 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 25

26 New Store in 2013 Robinson Ubon Ratchathani Interior Decoration ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 26

27 Grand Opening Ceremonies Robinson Kanchanaburi Robinson Udon Ratchathani ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 27

28 Agenda 1 Agenda 2 Agenda 3 Q&A Agenda 4 Agenda 5 ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 28

29 Appendix ROBINSON DEPARTMENT STORE PUBLIC COMPANY LIMITED Page 29

30 Statements of Income (Unit : Million Baht) 1Q13 1Q12 Revenue from sale of goods 6,305 5,071 Investment income Other income Total income 6,779 5,475 Cost of sale of goods 4,812 3,813 Selling and administrative expenses 1,291 1,012 Total expenses 6,102 4,825 Share of profit of associates Profit before income tax expense Income tax expense Net Profit ROBINSON DEPARTMENT STORE PUBLIC COMPANY LIMITED Page 30

31 Balance Sheet (Unit : Million Baht) 31-Mar Dec-12 Cash and cash equivalents 2,593 3,023 Current investments 1,249 1,040 Trade accounts receivable Inventories 1,309 1,325 Other current assets Non-current assets 11,474 10,759 Total assets 17,565 17,170 Trade accounts payable 4,145 4,347 Other current liabilities 1,760 1,800 Non-current liabilities Total liabilities 6,082 6,315 Total equity 11,483 10,856 Total liabilities and equity 17,565 17,170 ROBINSON DEPARTMENT STORE PUBLIC COMPANY LIMITED Page 31

32 Thank you Investor Relations Robinson Department Store Plc. TEL: EXT ROBINSON W W W. DEPARTMENT R O B I N STORE O N PUBLIC. C O. COMPANY T H LIMITED Page 32