VILLAR-LED listed companies AllHome Corp. and AllDay Marts, Inc. recorded income growth as of September this year, the two firms said in separate e-mailed statements.
Without disclosing specific numbers, home improvement and construction firm AllHome said its net income increased by 12% from its second-quarter income and its earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 13%.
Sales improved by 9% to P3.402 billion from P3.132 billion. The company said it remained open, albeit on shortened hours, even as the government reimplemented stringent lockdown restrictions during the period.
“AllHome’s inherent innovative nature fueled its ability to quickly adapt to the COVID-19 (coronavirus disease 2019) pandemic. Our team continuously evaluates our strategies and implement operational efficiency initiatives to maximize earning potential and minimize costs,” Manuel B. Villar, Jr., chairman of AllHome and AllDay, said in the AllHome statement.
For the January-September period, AllHome posted a net income growth of 65% to P973 million year on year after its EBITDA grew 32% to P2.36 billion.
Sales of AllHome for the period grew by 22% to P10.13 billion from P8.33 billion in the same three quarters last year. Its gross profit also posted a 33% growth, with the company’s gross profit margin increasing by 290 basis points to 34.2% from 31.3%.
Benjamarie Therese N. Serrano, president and chief executive officer of AllHome, said the company’s results as of September already surpassed its performance logged in the same period in 2019 with net income after tax rising by 30%, EBITDA by 27%, and sales by 24%.
“We remain optimistic with the industry as more Filipinos become vaccinated, the economy opening up, and the pandemic situation eases,” Ms. Serrano said.
“Given these, in terms of our expansion program, we have already opened five stores as of end of September and we are looking at opening a number of new stores in the [fourth] quarter, which will bring us close to our at least 100 store target by 2026,” she added.
AllHome said it implemented strategic pricing and also increased in-brand house sales contribution to improve margins.
Meanwhile, AllHome also optimized its store capacity and repurposed its branches. Some were used as additional store warehousing and fulfillment areas that serve its e-commerce platform. The repurposed sores are said to be “the basis” of the “new generation AllHome stores.”
“These new stores now carry a smaller footprint of 7,000 to 8,000 square meters (sq.m.) net selling area and requires lesser CAPEX (capital expenditure) fit-out requirement,” AllHome and AllDay Vice-Chairman Camille A. Villar said in the AllHome statement.
ALLDAY RECORDS 61% NET INCOME GROWTH
Meanwhile, newly listed AllDay said it booked a net income after tax of P265 million as of end-September, up by 61% from the P165 million logged in the same period last year.
Nine-month sales improved by 22% to P6.9 billion from last year’s P5.6 billion. The company said this is also a 121% improvement from its sales performance in the same period in 2019.
AllDay said 3.8% of its revenues were generated via its digital platforms, while it accounted for 5.7% of its third quarter revenues. Meanwhile, same store sales growth (SSSG) for the period went up by 3%.
“We are firm in our belief that this will be sustained through our clearly differentiated supermarket concept,” AllDay President and Chief Executive Frances Rosalie T. Coloma said in the AllDay statement.
The company made its debut at the local bourse earlier this month, raising P4.53 billion from its initial public offering (IPO).
“Thanks to our successful IPO, we look to use the fresh funds made available to us to enable an aggressive expansion strategy that will see us posting even better performance results moving forward,” Ms. Coloma said.
The company currently has a store network of 33 branches. It aims to have 45 supermarkets by the end of next year and reach 100 by the end of 2026.
Shares of AllHome at the stock market declined 1.98% or 20 centavos to close at P9.90 on Friday, while AllDay stocks rose 10.81% or eight centavos to end at 82 centavos apiece. — Keren Concepcion G. Valmonte
