its momentum off of the continuous reopening of the Philippine economy from the
pandemic, closing FY 2021 with double-digit growth in revenue.
For FY 2021, AllHome posted 15% growth in net revenue, up to Php 14.325 billion
in FY 2021 from Php 12.414 billion in FY 2020.
AllHome’s gross profit also saw about 28% improvement versus FY 2020, with FY
2021 gross profit at Php 5.019 billion versus a performance of Php 3.928 billion in
FY 2020.
AllHome Chairman Manuel B. Villar, Jr. reiterated AllHome’s commitment to
weathering challenges to deliver value to its stakeholders.
“AllHome’s performance in FY 2021 is a full display of our core advantages as we
navigated through the many challenges of the pandemic. As this global challenge
draws to a close, we view 2022 with optimism. All signs point to an increased pace
of economic recovery throughout the country, and this bodes well for AllHome”,
said Villar.
The company also recorded a 27% growth in EBITDA and notable 46% increase
in net income after tax, with FY 2021 NIAT at Php 1.444 billion, up from Php 988
million for the same period last year.
FY 2021 saw AllHome employing a number of initiatives to improve gross profit
margins, which increased to 35% of revenue in FY 2021 from only 31.6% in FY
Strategic pricing, conversion of select concess merchandise to outright, and
increasing in-house brands sales contribution all served to contribute to the
marked improvement.
To capitalize on changing customer behavior skewed towards an increasing
adoption of e-commerce as a sales channel, AllHome deployed operational efficiency programs to optimize store formats, allowing for additional store
warehousing and dedicated fulfillment and logistics areas for e-commerce
fulfillment.
As of December 2021, e-commerce revenue for AllHome is at 11% of total
revenue.
“2021 saw the creation of our new generation AllHome stores, which carry a
smaller footprint and require less CAPEX to fit out,” said AllHome Vice Chairman
Camille Villar. “With the increasing adoption of online shopping across all
consumer channels, AllHome will continue to leverage innovative customer-facing
measures and automated digital marketing campaigns to strengthen our omnichannel presence and grow our consumer base. Aside from AllHome’s strong
performance in a time of pandemic, we are notably gaining ground in the ecommerce space, with 11% of our revenue now coming from online channels.”
AllHome’s operational performance in FY 2021 reflects the country’s steady march
towards recovery. Marked improvements were observed in the company’s same
store sales growth (SSSG), which rose from 3.5% in FY 2020 to 8.1% in FY 2021.
Transaction count for AllHome also rose—from 3.891 million compared to 2020’s
of 3.6 million, an increase of 8%, year on year.
Benjamarie Therese Serrano, President of AllHome added: “Despite the
operational challenges that the pandemic presented, AllHome’s growth in revenue,
EBITDA and NIAT all point to the company’s inherent adaptability and agility to
weather extraordinary circumstances. The results are clear: AllHome’s double digit
growth in revenue and net income, compared to both FY 2020 and pre-pandemic
FY 2019 are indicators of our strength and our continued commitment to both
improve and build on the AllHome value proposition as well as deliver value to our
stakeholders. With the government’s steady pace of downgrading restrictions
towards a more normal scenario, we are starting to see our operations returning
to full strength. Our FY 2021 SSSG and increasing transaction counts for the same
period are reflective of customers returning to stores, and we are confident in the
strategies we have in place to push towards our 100-store milestone in 2026.”
AllHome’s commitment to make home shopping convenient is evidenced in its
vast and comprehensive assortment of merchandise—from furniture, appliances
to construction and hardware—all housed under one roof provides unparalleled
convenience. Coupled with its very own online shopping platform
www.allhome.com.ph, customers can enjoy an elevated and complete home
retail experience, both in-store and online. www.allhome.com.ph to shop safely
from the comfort of home.
AllHome made its debut in the Philippine Stock Exchange via Initial Public
Offering (IPO) on 10 October 2019.
