SUPERMARKET operator AllDay Marts, Inc. reported unaudited net income growth of 80% to P394.9 million in 2021 on higher sales productivity and lower operating expense ratios.
“AllDay’s remarkable performance for 2021 is a continued validation of our value proposition, and bodes well for the company’s long-term prospects. AllDay’s distinct in-store experience, coupled with an increasingly efficient e-commerce model, has proved to truly resonate with our growing customer base of Filipinos who show an increasing preference for differentiated and experience-driven retail,” AllDay Chairman Manuel B. Villar, Jr. said in a statement on Wednesday.
In 2021, AllDay reported that sales were up by 19% to P 9.46 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) also improved by 9.1% in 2021 from 7.9% in 2020.
“As the country is well on its way to recovery from the pandemic, we will continue to focus on growing the business towards our 100-store milestone by 2026,” Mr. Villar said.
As of January, AllDay has a network of 35 stores in the country.
Last year, the company had its P6.03-billion initial public offering, which was about four times oversubscribed, raising a combined P4.52 billion by selling 7.52 billion shares at 60 centavos each.
“AllDay’s remarkable growth in 2021 befits our first year on the PSE (Philippine Stock Exchange). We believe that this puts us on strong footing to continue implementing our blueprint for AllDay: an in-store experience comparable to the best that the world has to offer, featuring even smarter customer facing technology, comprehensive product offerings, curated international selections, as well as better-tuned e-commerce capabilities. On the strength of these, we remain confident in our ability to deliver even better value to our stakeholders,” AllDay Vice-Chairman Camille A. Villar said.
AllDay Chief Executive Officer Frances Rosalie T. Coloma said the company’s performance in 2021 “confirms the Filipino market’s affinity for upgraded experiences — both in-store and online.”
“With fresh funds available to us by way of our successful IPO, we are put in a much stronger financial position as we can move forward with minimal debt load. This, in turn, allows us to fully focus our capacities towards our store network expansion. As we ride the tail end of the pandemic on this high note, we are increasingly confident as we continue to bring AllDay to even more locations across the country.”
At the stock exchange on Wednesday, AllDay shares were up 4.44% or P0.02 to close at P0.47 apiece. — Luisa Maria Jacinta C. Jocson
