AllHome posts Php 6.3 billion in revenues for 1H 2022; EBITDA up 8.8% vs 1H 2021
AllHome, the country’s pioneering one-stop full line home center, reported Php 6.265 billion in revenue for the first half 2022. The chain also noted improvements in its gross profit margins, with 1H 2022 performance indicating 35.9% of revenue versus 33.1% in 1H 2021, and 29.5% in 2019.
AllHome 1H 2022 reported net core profit of Php 525 million tracks 21% better than pre-pandemic performance, 1H 2019.
“The country at large has successfully demonstrated and sustained its optimism in the post-pandemic scenario. The return to normalcy—as can be seen in the consistent pandemic alert levels and the brisk increases in footfall to malls and centers of commerce. While AllHome still continues to feel the effects of prevailing circumstances in the country, our current performance still shows marked improvement over pre-pandemic levels of 2019, and is an increasingly tangible and welcome sign that things are only going to improve for AllHome,”
– AllHome Chairman Manny B. Villar Jr.
“People are returning to stores and spending more, and we fully intend to capitalize on this sustained optimism,” he adds.
1H 2022 also saw AllHome posting an 8.8% increase in EBITDA—Php 1.66 billion in 1H 2022 from Php 1.53 billion in 1H 2021.
Bringing improved customer experiences closer to customers
A notable trend observed by regional thinktank Euromonitor during the pandemic was the migration from urban city centers to the countryside, with consumers—including the upper class—seeking space further from identified centers of activity, shifting their sights on rest houses and holiday homes away from the city.
“The shift of home building and making away from the city, a trend identified by Euromonitor International in its February 2022 report on consumer trends—especially in the home improvement and home and garden industries—is something we have paid close attention to in our expansion strategy,” says Camille Villar, AllHome Vice Chairman.
“Part of the AllHome experience of elevated customer journeys is making it accessible where our customers are—or want to be. This trend has informed our strategy of locating not only in the country’s historically urbanized centers, but in the emerging ones as well that still give the flavor of the more relaxed Philippine countryside. This can be seen in our latest location in Davao, and soon, in Cebu. We believe this is a great opportunity for AllHome, and definitely a better home-shopping experience for our future customers in these areas,” she adds.
AllHome also continues to improve on its digital experience, bringing in aesthetic and user experience improvements to its e-commerce platform www.allhome.com.ph. The platform recently added “shop by look” functionalities, allowing users and customers to browse and purchase products based on design inspirations featured on both the desktop and mobile versions.
AllHome adds five locations towards 100-store milestone by 2026
AllHome President and Chief Executive Officer Benjamin Therese Serrano, meanwhile, expressed the chain’s continued determination in implementing its operational strategies towards its 100-store milestone by 2026.
“Despite prevailing circumstances, our confidence in our capability to implement AllHome’s expansion strategy remains undeterred. To date, AllHome has already added five new locations in the first half of 2022 alone, with the highlight being our newest large format store in Davao,” she said.
“We believe that the current optimism of consumers with regards to the pandemic scenario is well-founded and has reflected in our operating performance. Basket sizes in AllHome stores are up 5% versus the same period last year—an indicator that our customers continue to be confident in their spending. In addition to a general mood shift that can only bode well for AllHome, this puts us in a position where we can best use our synergies with the Villar Group’s retail and real estate affiliates to continue to provide our trademark comprehensive and elevated experiences to even more customers. In this spirit, we are optimistic as we vigorously pursue our 2026 milestone of 100 stores,” she adds.
AllHome made its debut in the Philippine Stock Exchange via Initial Public Offering (IPO) on 10 October 2019.