Parkson Retail Asia Limited · SGX:O9E
Parkson Retail Asia — Q2 FY2017 Earnings Presentation
22 slides from Parkson Retail Asia's earnings presentation, Feb 14, 2017
Slide 1: Parkson Retail Asia Limited Financial Results for Q2 FY2017
Parkson Retail Asia Limited Financial Results for Q2 FY2017 14 February 2017
Slide 2: Contents
1. Overview 2. Financial Statements i) Consolidated income statement ii) Consolidated statement of financial position iii) Consolidated statement of cash flows iv) Segment results 3. Operational Highlights i) Geographic footprint ii) Gross sales proceeds, revenue and SSS growth iii) Merchandise sale
Slide 3: Overview
2 s a o 2 2 O eo ¢£ O « SHOOPEN 2)
Slide 4: Business Environment – Same Store Sales Growth
Business Environment – Same Store Sales Growth Quarter ended 6 months ended SSSG 31.12.2016 31.12.2015 31.12.2016 31.12.2015 Malaysia +4.2% -7.3% -0.8% -11.2% Vietnam -11.3% -0.4% -10.9% -2.0% Indonesia -2.2% +1.4% -7.7% +5.5% Myanmar -29.5% -5.2% -28.9% -0.1% SSSG for Malaysia : - increase in SSS
Slide 5: Financial Summary
Financial Summary Group Quarter ended 6 months ended 31.12.2016 31.12.2015 +/(-) 31.12.2016 31.12.2015 +/(-) S$'000 S$'000 % S$'000 S$'000 % Gross Sales Proceeds 263,356 253,559 3.9 484,108 490,276 (1.3) Revenue 111,139 103,452 7.4 204,476 196,142 4.2 Profit / (Loss) Before Tax (590) 4,659 >(100.0)
Slide 6: Segmental Profit Before Tax
Segmental Profit Before Tax Group 6 months ended PBT Summary 31.12.2016 31.12.2015 +/(-) S$'000 S$'000 % Department stores On same store basis Malaysia 4,953 12,528 (60.5) Vietnam (1,682) (214) >(100.0) Indonesia (3,031) (879) >(100.0) Myanmar (241) (533) 54.8 Investment holding / Others (226) 311 >
Slide 7: Financial Statements
Financial Statements 7
Slide 8: Unaudited Consolidated Income Statement
Unaudited Consolidated Income Statement For the six months ended 31 December Group (S$'000) Quarter ended 6 months ended 31.12.2016 31.12.2015 +/(-) 31.12.2016 31.12.2015 +/(-) S$'000 S$'000 % S$'000 S$'000 % Gross Sales Proceeds 263,356 253,559 3.9 484,108 490,276 (1.3) - Direct sales 59,035 50,993
Slide 9: Unaudited Balance Sheet
Unaudited Balance Sheet (S$’000) As at As at 31 Dec 2016 30 Jun 2016 % Change Total Assets 390,302 374,077 +4.3% - Non-current assets 217,012 197,829 +9.7% - Current assets 173,290 176,248 -1.7% Total Liabilities 243,966 216,751 +12.6% - Current liabilities 214,639 187,611 +14.4% - Non-current liabi
Slide 10: Unaudited Consolidated Statement of Cash Flows
Unaudited Consolidated Statement of Cash Flows For the six months ended 31 December (S$’000) YTD YTD Q2 Q2 +/(-) 6 months 6 months +/(-) FY2017 FY2016 % FY2017 FY2016 % Net cash generated from operating activities 49,274 26,648 84.9% 20,682 36,829 (43.8)% Net cash used in investing activities (13,73
Slide 11: Segment Results
Segment Results For the six months ended 31 December Group Malaysia Vietnam Indonesia Myanmar Unallocated * Total S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 Period ended 31.12.2016 Gross Sales Proceeds 335,062 57,111 89,895 1,750 290 484,108 Revenue 155,676 15,626 32,164 720 290 204,476 Profit/(Loss)
Slide 12: Operational Highlights
Operational Highlights 12 £3 PARKSON Fi
Slide 13: Geographic Footprint
Geographic Footprint Malaysia Department stores(1): 47 LOL-branded stores: 11 Vietnam Approx. GFA (leased): 537,000 Department stores: 7 sqm Approx. GFA (leased): 67,000 sqm Approx. GFA (owned): 23,000 sqm Approx. GFA (managed): 38,000 sqm Indonesia Department stores(1): 17 Approx.
Slide 14: Gross Sales Proceeds, Revenue and SSS Growth
Gross Sales Proceeds, Revenue and SSS Growth SSSG Q2 YTD Q2 FY2017 FY2017 Overall top line growth (S$ million) Malaysia +4.2% -0.8% Vietnam -11.3% -10.9% 1,200 1,109 1,055 1,078 1,077 Indonesia -2.2% -7.7% Myanmar -29.5% -28.9% 1,000 968 800 600 490 484 433 447 432 429 388 400 196 204 200 - FY2012 F
Slide 15: Merchandise Sales Mix
Merchandise Sales Mix YTD Q2 FY2017 22.5% YTD Q2 FY2016 77.5% 19.4% 80.6% Direct sales Concessionaire sales Direct sales Concessionaire sales 15
Slide 16: Merchandise sales mostly from fashion and cosmetics segments
Merchandise sales mostly from fashion and cosmetics segments YTD Q2 FY2017 Fashion and 3.5% apparel 14.1% Cosmetic and YTD Q2 FY2016 52.4% accessories 30.0% Household, 3.5% electrical goods 14.3% and others Groceries and 53.4% 82.4% perishables 28.8% 82.2% 16
Slide 17: Blended Gross Margin
Blended Gross Margin Merchandise gross margin (including both direct sales and concessionaire sales) 23.8% 24.0% 23.8% 23.9% 23.4% 22.7% 22.6% 248 253 243 247 228 115 114 FY2012 FY2013 FY2014 FY2015 FY2016 YTD Q2 YTD Q2 FY2016 FY2017 Merchandise gross profit (S$m) Merchandise gross margin (%) 17
Slide 18: Profit Margins (EBITDA)
Profit Margins Earnings before interest, tax, depreciation and amortisation (EBITDA) 100 35.0% 32.8% 30.0% 80 75 66 64 25.0% 60 60 54 20.0% 16.8% 40 14.8% 15.0% 14.7% 13.8% 20 10.0% 5 (26) 5.0% - 2.7% FY2012 FY2013 FY2014 FY2015 FY2016 YTD Q2 YTD Q2 -6.0% 0.0% FY2016 FY2017 FY2012 FY2013 FY2014 FY20
Slide 19: Profit Margins (Net Profit)
Profit Margins Net profit / (loss) attributable to Owners of the Company 60 30.0% 52 26.7% 50 45 25.0% 39 40 34 30 20.0% 30 15.0% 20 10.3% 10 10.0% 8.6% 8.0% 7.8% (35) (7) - FY2012 FY2013 FY2014 FY2015 FY2016 YTD Q2 YTD Q2 5.0% (10) FY2016 FY2017 -8.1% -3.6% 0.0% (20) FY2012 FY2013 FY2014 FY2015 FY2
Slide 20: Going Forward
Going Forward V3 PARKSON Fi 2
Slide 21: Expansion Plan (confirmed sites for department stores)
Expansion Plan (confirmed sites for department stores) Location FY2017 FY2018 Approx. GFA Approx. GFA (sq.m) (sq.m) Malaysia Malaysia 1. MyTown, Kuala Lumpur (Q3FY2017)^ 13,952 1. Evo Shopping Mall, Bangi (Q2FY2018)^ 7,726 2. Sunway Velocity, Kuala Lumpur (opened Dec 2016) 12,441 3. M Square, Puchon
Slide 22: Thank You
THANK YOU Disclaimer This presentation is to provide general background information of Parkson Retail Asia Limited (the “Company”). The information provided is in summary form and no representation or warranty, express or implied is made and no reliance should be placed on the fairness and compl
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