Robinsons Retail nets P1.6 billion in Q2

MANILA, Philippines — Robinsons Retail Holdings Inc., the Gokongwei-owned retail company, reported a net income attributable to equity holders of the parent company (NIAT) of P1.6 billion in the second quarter.

This is more than double the P724 million in the same period last year and higher than pre-pandemic level in 2019 by 44.7 percent.

Robina Gokongwei Pe, president & CEO of Robinsons Retail said the cost-efficiency efforts have also continued to yield positive results.

“ Thus, we are in a position of renewed fervor and strength to further widen our already expansive offline and online reach and broaden our ecosystem of products & services in order to gain more valuable customer relationships,” Gokongwei-Pe said.

RRHI attributed the good operating performance and full quarter impact to austerity measures implemented last year.

Net sales reached P42.9 billion in the second quarter, growing by 19.8 percent versus last year and surpassing pre-pandemic level by 7.7 percent.

Improved overall sales were driven by the 15.5 percent same store sales growth (SSSG), due to higher transaction count across segments, given improvements in mobility and easing of border restrictions.

Gross profit climbed  by 25.5 percent to P10.2 billion mainly due to better product mix, with margin rising  by 100 basis points year-on-year. EBITDA advanced by 32.7 percent to P3.8 billion.

Robust gains from the second quarter enhanced performance for the first half.

Net sales jumped  by 15.3 percent to P82.4 billion in the first half. E-commerce sales accounted for 3.6 percent of sales, an increase from 2.8 percent last year.

Likewise, EBITDA improved by 25.8 percent to P7.2 billion, resulting in net income attributable to the parent company amounting to P2.7 billion, up by 64 percent versus last year.