Robinsons Retail says 2022 net income, net sales eclipse pre-pandemic level


Posted at Feb 02 2023 08:53 AM

MANILA - Robinsons Retail Holdings said on Thursday it posted a record P5.7 billion net income attributable to equity holders of the parent company in 2022.

Last year's earnings is 26.7 percent higher compared to 2021 and also "eclipsing the pre-pandemic level" in 2019 by 41.2 percent, the Gokongwei-led firm told the stock exchange. 

Core income, excluding FX, interest income from bonds, equitized earning from Robinsons Bank and others, rose by 39.1 percent to P5.3 billion, another record high, it added.

"The surge in profitability is underpinned by positive contributions from all business segments coming from category mix improvements and operating efficiencies," RRHI said. 

Meanwhile, consolidated net sales reached P178.8 billion in 2022, higher by 16.6 percent than the previous year and also higher than the pre-pandemic level, the company said. This was driven by same store sales growth as well as new store openings, it added.

"We are pleased with our operating performance in 2022. Building on the momentum last year, our company will continue to take advantage of the economy’s return to normal," said Robina Gokongwei Pe, President and CEO of Robinsons Retail Holdings.

"We will focus on improving store efficiency and increasing market coverage with more stores in the pipeline for 2023,” she added.


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