AllHome boosts EBITDA in Q1 despite Covid surge

AllHome, the country’s pioneering one-stop full line home center, reported a 7.7 percent increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) to P856.2 million in the first quarter of 2022.

In a disclosure to the Philippine Stock Exchange, the firm said it generated P3.24 billion in revenue for the first quarter of the year.

These figures showed remarkable growths of 36 percent for revenues and 67 percent for EBITDA versus same period of 2019, pre-pandemic.

“While AllHome was affected by prevailing circumstances in the country—the worldwide pandemic and the recent surge of the Omicron variant in particular—we were able to again demonstrate our capability to adapt and capitalize on opportunities presented,” said AllHome Chairman Manny B. Villar Jr. He added that, “At present, Metro Manila is already under much more relaxed restrictions. Footfall in malls and other retail establishments are continuously returning to levels that compare favorably to pre- pandemic conditions, a welcome indicator of the country’s continuing return to normalcy.”

With the rise of “revenge retail” as a customer behavior trend, AllHome Vice Chairman Camille Villar maintained confidence in the chain’s ability to capitalize on market shifts and emerging customer preferences.

“The shift to a muchimproved post-pandemic retail landscape is clearly on the horizon—if not here already—and we are confident in AllHome’s ability to respond favorably to the new challenges ahead,” she said.

Ms. Villar noted that, “The AllHome experience is built on the foundation of elevated customer journeys and touchpoints, ably highlighting the country’s only one-stop full line home retail offering.

“The combination of both is a potent formula in attracting customers who are now hungry for better tailored customer experiences after almost two years of restricted movement.” she added.

Ms. Villar also emphasized AllHome’s elevated home shopping experience and its continuing integration with e-commerce.

“Our omni-channel strategy continues to build on providing our customers with a seamless experience between and across the digital channel and physical stores,” she said.

Meanwhile, AllHome President and Chief Executive Officer Benjamin Therese Serrano said that the chain is leaning into its strategies towards hitting 100 stores by 2026.

“In addition to embracing an omnichannel strategy to bring the the AllHome experience closer and closer to our market, we are highly confident that current market conditions will enable us to go full speed with all our strategies to reach 100 stores by 2026,” she said.

Serrano said “We continue to make headway in terms of operational efficiencies across total chain. We continue to optimize our store format, with our ‘right-sized’ new generation stores the key execution as we continue to open stores throughout 2022.”