Cosco Capital, Inc. · PSE:COSCO
Cosco Capital — H1 2019 Earnings Presentation
16 slides from Cosco Capital's earnings presentation, August 2019
Slide 1: Cosco Capital, Inc. 1H 2019 Financial Results
Cosco Capital, Inc. 1H 2019 Financial Results Investor Presentation 1
Slide 2: Disclaimer
Disclaimer 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 responsib
Slide 3: Company Overview
Company Overview Lucio Co Family Public 73% 27% 49% 100% 100% 100% Commercial Real Grocery Retailing Liquor Distribution Specialty Retailing Estate • Ellimac Prime Holdings, Inc., • Fertuna Holdings Corp., • Patagonia Holdings Corp., • Nation Realty, Inc. • NE Pacific Shopping Centers Corporation •
Slide 4: Revenue & Net Income Contribution 1H 2019
Revenue & Net Income Contribution 1H 2019 Revenues PATMI Specialty Real Retail 2% Estate 23% Liquor Distribution Grocery 4% Retailing Grocery 54% Liquor Real Retailing, Distribution Estate 1% 93% 17% Specialty Retail 2% PHP 76.72 billion *PHP 2.67 billion *Net Income excludes one-time gain on sale o
Slide 5: 1H 2019 Consolidated Financial Highlights
1H 2019 Consolidated Financial Highlights (In PHP millions) +0.6% +4.4% Revenues Gross Profit 168,388 40,000 38.0 145,750 35,000 129,186 30,000 28,260 33.0 24,322 25,000 21,912 28.0 76,231 76,724 20,000 12,926 13,488 23.0 15,000 17.0% 17.0% 17.6% 16.7% 16.8% 18.0 10,000 5,000 13.0 8.0% 2016 2017 201
Slide 6: Grocery Retailing: 1H 2019 Financial Highlights
Grocery Retailing: 1H 2019 Financial Highlights (In PHP millions) Revenues Gross Profit and Margin +11.3% +7.5% 140,918 30,000 24 124,491 23,840 22 112,589 25,000 20,655 19,376 20 20,000 11,816 71,136 10,992 18 63,923 15,000 16.9% 17.2% 16 17.2% 16.6% 16.6% 14 10,000 12 5,000 10 8.0 2016 2017 2018 1
Slide 7: Grocery Retailing: Operational Highlights
Grocery Retailing: Operational Highlights • Puregold opened 12 new stores in 1H 2019; closed 1 store • S&R opened 1 new S&R warehouse; closed 1 QSR • As of 1H 2019, the Grocery Retailing segment is operating a total of 419 stores • SSSG PGOLD only is at 6.2% while S&R is at 9.3% • Merger and convers
Slide 8: Liquor Distribution: Products
Liquor Distribution: Products Brandy Brandy Tequila Alfonso Fundador Jose Cuervo Alfonso Light Fundador Light Whiskey Excelente Bushmills Whiskey Chivas Regal Tequila Jim Beam Patron Glenfiddich Cognac Martel Whiskey Vodka Johnnie Walker Absolut Jack Daniels Liqueurs Jagermeister Various Wines Speci
Slide 9: Liquor Distribution: 1H 2019 Financial Highlights
Liquor Distribution: 1H 2019 Financial Highlights (In PHP millions) Revenues Gross Profit and Margin 8,747 +21% 2,500 +16.5% 4 6,663 2,000 1,874 4 5,904 1,491 3 1,500 1,344 3 4,514 836 973 3,732 2 1,000 2 22.8% 22.4% 21.4% 22.4% 21.6% 1 500 1 8 2016 2017 2018 1H 18 1H 19 2016 2017 2018 1H 18 1H 19 G
Slide 10: Liquor Distribution: Total Volume Sales
Liquor Distribution: Total Volume Sales • 31% growth in total volume of cases sold in 1H 2019 • Growth driven by the continued strong sales of Alfonso Light and Alfonso Brandy . CATEGORY 1H 18 Mix % 1H 19 Mix % Inc/Dec Growth Brandy 858,597 71% 1,165,175 73% 306,579 36% Other Spirits 168,680 14% 232
Slide 11: Real Estate: 1H 2019 Financial Highlights
Real Estate: 1H 2019 Financial Highlights (In PHP millions) Revenues Gross Profit and Margin +4.6% 1,600 +3.5% 80 1,404 1,350 1,400 1,228 75 2,326 2,429 740 2,197 1,200 715 70 1,000 800 65 1,216 1,272 60.4% 600 58.8% 58.2% 60 400 55.9% 55.6% 55 200 50 2016 2017 2018 1H 18 1H 19 2016 2017 2018 1H 18
Slide 12: Real Estate Group: Operational Highlights
Real Estate Group: Operational Highlights • Total of 55 commercial properties with 98% average occupancy rate • Pure Petroleum operating at 100% capacity in 2018 and 2017 (9 storage tanks with 88.5M liters capacity) 1H 2019 FY2018 Category 1H2019 FY2018 GLA/sqm GLA/sqm Land under lease 11 10 160,921
Slide 13: Office Warehouse: 1H 2019 Financial Highlights
Office Warehouse: 1H 2019 Financial Highlights (In PHP millions) Revenues Gross Profit and Margin +20.9% 800 +18.4% 80.0 2,089 700 70.0 1,825 600 567 60.0 1,535 482 1,223 500 417 50.0 1,012 400 265 314 40.0 300 27.2% 26.4% 27.1% 26.2% 25.7% 30.0 200 20.0 100 10.0 0.0% 2016 2017 2018 1H 18 1H 19 2016
Slide 14: Office Warehouse: Operational Highlights
Office Warehouse: Operational Highlights OFFICE WAREHOUSE, INC. • Strong growth driven by store expansion and enhanced product offerings • Opened 6 new store outlets in the first half of 2019 • Strong SSSG of 15% in 1H 2019 2016 2017 2018 1H 19 No. Stores 71 82 88 91 Net selling area 14,014 sqm 15,9
Slide 15: CAPEX Guidance for FY 2019
CAPEX Guidance for FY 2019 • CAPEX Budget of Php 5.8 billion in 2019 - Php 5.2 billion for Puregold Group - Php 500 million for Real Estate Group - Php 75 million for Office Warehouse • To be funded by internally generated cash and short term untapped bank credit lines if necessary 15
Slide 16: Thank you.
Thank you. www.coscocapital.com