Parkson Retail Asia Limited · SGX:O9E

Parkson Retail Asia — Q2 FY2016 Earnings Presentation

23 slides from Parkson Retail Asia's earnings presentation, Feb 3, 2016

  1. Slide 1: Financial Results Presentation Q2 FY2016

    Parkson Retail Asia Limited Financial Results Presentation Q2 FY2016 3 February 2016

  2. Slide 2: Contents

    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) Merchan

  3. Slide 3: Overview

    Overview 3

  4. Slide 4: Overview: Business Environment

    Overview Business Environment  Same Store Sales Growth, by countries: Quarter ended 6 months ended SSSG 31.12.2015 31.12.2014 31.12.2015 31.12.2014 Malaysia -7.3% -6.7% -11.2% -5.6% Vietnam -0.4% -5.8% -2.0% -5.7% Indonesia +1.4% +8.8% +5.5% +7.3% Myanmar -5.2% +28.9% -0.1% +30.8%  SSSG for Malays

  5. Slide 5: Financial Summary

     SSSG for Myanmar : - decline in SSSG at -5.2% for the reported quarter. - subdued consumer sentiment arising from uncertainty surrounding the country’s general election in November 2015. - there are plans to close FMI Centre for re-development, however, no firm timing has been agreed with landlord

  6. Slide 6: Reported topline figures declined for the quarter and 6 months

     Reported topline figures (GSP and revenue) declined for the quarter and 6 months period. Reported topline figures declined, despite sales contribution from new stores, due significantly to (i) negative SSSG recorded by the Malaysia and Vietnam operations and (ii) local currency weakness of the Mal

  7. Slide 7: Segmental Profit Before Tax

    Segmental Profit Before Tax Group 6 months ended PBT Summary 31.12.2015 31.12.2014 +/(-) S$'000 S$'000 % Like-for-like, on same store basis Malaysia 14,807 20,661 (28.3) Vietnam (164) 2,297 >(100.0) Indonesia (870) (373) >(100.0) Myanmar (533) (304) (75.3) Share of profits of an associate (Sri Lanka

  8. Slide 8: Financial Statements

    Financial Statements — ren 3 “a oe = a i , 2a J eae & drome :

  9. Slide 9: Unaudited consolidated Income Statement

    Unaudited consolidated Income Statement For the six months ended 31 December Group Reported Reported (S$'000) Quarter ended 6 months ended 31.12.2015 31.12.2014 +/(-) 31.12.2015 31.12.2014 +/(-) S$'000 S$'000 % S$'000 S$'000 % Gross Sales Proceeds 253,559 289,555 (12.4) 490,276 570,256 (14.0) - Dire

  10. Slide 10: Unaudited consolidated Statement of Financial Position

    Unaudited consolidated Statement of Financial Position (S$’000) As at As at % Change As at % Change 31 Dec 2015 30 Jun 2015 (a)-(b) / (b) 31 Dec 2014 (a)-(c) / (c) (a) (b) (c) Total Assets 409,446 374,407 +9.4% 451,126 -9.2% - Non-current assets 179,503 148,393 +21.0% 152,528 +17.7% - Current assets

  11. Slide 11: Unaudited consolidated Statement of Cash Flows

    Unaudited consolidated Statement of Cash Flows For six months ended 31 December (S$’000) YTD YTD Q2 Q2 +/(-) 6 months 6 months +/(-) FY2016 FY2015 % FY2016 FY2015 % Net cash generated from operating activities 26,648 40,430 (34.1)% 36,316 58,296 (37.7)% Net cash generated from / (used in) investing

  12. Slide 12: Segment results

    Segment results For six months ended 31 December Group Malaysia Vietnam Indonesia Myanmar Unallocated Total S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 6 months ended 31.12.2015 Gross Sales Proceeds 331,932 67,062 88,815 2,467 - 490,276 Revenue 146,693 17,128 31,384 937 - 196,142 Profit / (Loss) befor

  13. Slide 13: Operational Highlights

    Operational Highlights 13

  14. Slide 14: Geographic footprint

    Geographic footprint Vietnam Malaysia  Number of stores: 9  Number of stores: 45  Approx. GFA (leased): 80,000 sqm  Approx. GFA (leased): 524,000 sqm  Approx. GFA (owned): 23,000 sqm Indonesia  Approx. GFA (managed): 51,000 sqm  Number of stores: 16  Approx. GFA (leased): 158,000 sqm Myanmar

  15. Slide 15: Gross Sales Proceeds, Revenue and SSS Growth

    Gross Sales Proceeds, Revenue and SSS Growth Overall top line growth (S$ million) SSSG Q2 YTD Q2 FY2016 FY2015 Malaysia -7.3% -11.2% 1,200 1,109 1,055 1,078 1,077 Vietnam -0.4% -2.0% Indonesia +1.4% +5.5% 1,000 869 Myanmar -5.2% -0.1% 800 600 570 490 433 447 432 429 400 367 228 196 200 - FY2011 FY20

  16. Slide 16: Merchandise Sales Mix

    Merchandise Sales Mix YTD Q2 FY2016 19.4% YTD Q2 FY2015 80.6% 19.1% Direct sales Concessionaire sales 80.9% Direct sales Concessionaire sales 16

  17. Slide 17: Merchandise sales mostly from fashion and cosmetics segments

    Merchandise sales mostly from fashion and cosmetics segments YTD Q2 FY2016 3.5% Fashion and apparel 14.3% Cosmetic and YTD Q2 FY2015 53.4% accessories 28.8% 3.6% Household, electrical goods and 15.3% others Groceries and 53.7% 82.2% perishables 27.4% 81.1% 17

  18. Slide 18: Blended gross margins

    Blended gross margins Merchandise gross margin (including both direct sales and concessionaire sales) 23.8% 24.0% 23.8% 23.3% 23.4% 23.4% 22.7% 248 253 243 247 198 135 115 FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q2 FY2015 YTD Q2 FY2016 Merchandise gross profit (S$m) Merchandise gross margin (%) 18

  19. Slide 19: Profit margins: EBITDA

    Profit margins EBITDA(1) 100 35.0% 32.8% 30.0% 80 75 66 64 62 25.0% 60 60 20.0% 16.8% 17.4% 40 14.7% 14.2% 32 15.0% 13.8% 20 10.0% 5.0% - FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q2 YTD Q2 FY2015 FY2016 0.0% FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q2 YTD Q2 (20) FY2015 FY2016 -5.0% (26) -6.0% (40) -10.

  20. Slide 20: Profit margins: Net profit

    Profit margins Net profit attributable to Owners of the Company 60 30.0% 52 26.7% 50 45 25.0% 39 40 34 34 20.0% 30 20 17 15.0% 10.3% 10 10.0% 9.3% 8.6% 8.0% 7.5% - FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q2 YTD Q2 5.0% (10) FY2015 FY2016 0.0% (20) FY2011 FY2012 FY2013 FY2014 FY2015 YTD Q2 YTD Q2 FY20

  21. Slide 21: Going Forward

    Going Forward 21

  22. Slide 22: Expansion Plan (confirmed sites)

    Expansion Plan (confirmed sites) Location FY2016 FY2017 Approx. GFA Approx. GFA (sq.m) (sq.m) Malaysia Malaysia 1. Maju Junction, Kuala Lumpur (opened July 2015) 35,954 1. MyTown, Kuala Lumpur (Q2FY2017)^ 13,952 2. Aman Central, Alor Setar (opened October 2015) 12,546 2. The Spring, Bintulu (Q4FY201

  23. Slide 23: 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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