Robinsons Retail Doubles Net Income To Parent In Q42021

Robinsons Retail Holdings, Inc. doubled its net income attributable to equity holders of the parent company to ₱1.8 billion in the fourth quarter of 2021 from ₱825 million in the same period last year.

Photo Insert: “The positive performance in the last quarter of 2021 shows how we came together as a company with unwavering dedication, amid the continued challenges of COVID-19 throughout the year." - Robina Gokongwei Pe, President & CEO of Robinsons Retail Holdings, Inc.

Net sales continued to be on the uptrend posting 7.0% growth to ₱44.4 billion for the last quarter of 2021, propelled by increased spending during the holiday season.

The positive sales performance was also aided by the easing of restrictions to Alert level 2 in the National Capital Region (NCR) starting November, which provided greater mobility to the public, including children and senior citizens.

Same-Store Sales Growth (SSSG) was at 2.3%, coming from the strong performance of the drugstore, department store, convenience store, and specialty store segments. E-commerce grew 3x compared to 4Q2020 and accounted for 3.9% of total sales.

Gross profit improved by 11.3% to ₱10.3 billion, benefitting from increased vendor support and better product mix across most segments. Coupled with efforts to reduce costs and yield more savings, this translated to EBITDA uplift by 19.9% to ₱4.1 billion.

The strong fourth quarter boosted FY2021 results. Net income attributable to the parent company ended at ₱4.5 billion, 39.2% ahead of 2020, coming from net sales of ₱153.3 billion, which grew 1.5%. EBITDA improved by 2.4% to ₱13.1 billion.

“The positive performance in the last quarter of 2021 shows how we came together as a company with unwavering dedication, amid the continued challenges of COVID-19 throughout the year,” said Robina Gokongwei Pe, the President & CEO of Robinsons Retail Holdings, Inc.

“We entered 2022 driven by our constant goal to remain focused on our customers' needs. We look forward to reinvigorated business activity as alert levels fall due to better responses to the pandemic, while the nation forges ahead with a clearer path towards a more open economy.”

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