AllHome Corporation, the country’s pioneering one-stop full line home center, posted a 46 percent jump in net income to P1.44 billion last year from the P988 million earned in 2020, sustaining its momentum on continuous reopening of the economy.
In a disclosure to the Philippine Stock Exchange, the firm said it registered a 15 percent growth in net revenue to P14.33 billion in 2021 from P12.41 billion in 2020.
“AllHome’s performance in 2021 is a full display of our core advantages as we navigated through the many challenges of the pandemic,” said AllHome Chairman Manuel B. Villar, Jr. who reiterated their commitment to weathering challenges to deliver value to its stakeholders.
He noted that, “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.”
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 percent of total revenue.
AllHome Vice Chairman Camille Villar said “2021 saw the creation of our new generation AllHome stores, which carry a smaller footprint and require less CAPEX to fit out.”
“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 omni- channel presence and grow our consumer base,” she added.
AllHome’s operational performance in 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 percent in 2020 to 8.1 percent in 2021.
Transaction count for AllHome also rose to 3.89 million compared to 2020’s of 3.6 million, an increase of 8 percent, year-on-year.
“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,” AllHome President Benjamarie Therese Serrano.
She added that, “The results are clear: AllHome’s double digit growth in revenue and net income, compared to both 2020 and pre-pandemic 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,” Serrano noted.
She said that, “Our 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.”