AllHome profit rises by 46% to P1.4 billion in 2021

MANILA, Philippines — AllHome Corp., the listed full line home center of the Villar Group, posted a net income of P1.4 billion last year, up 46 percent from P988 million a year ago.

Gross profit rose by 28 percent to P5.019 billion.

Net revenue likewise increased by 15 percent to P14.325 billion.

AllHome chairman Manuel B. Villar, Jr. reiterated AllHome’s commitment to weathering challenges to deliver value to its stakeholders.

“AllHome’s performance in 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 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 accounted for 11 percent of AllHome’s 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 omni-channel presence and grow our consumer base. Aside from AllHome’s strong performance in a time of pandemic, we are notably gaining ground in the e-commerce space, with 11 percent of our revenue now coming from online channels,” she said.

Benjamarie Therese Serrano, president of AllHome said that despite the operational challenges that the pandemic presented, AllHome’s performance in 2021 reflected the company’s inherent adaptability and agility to weather extraordinary circumstances.

“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 said.

The company is on track to hitting 100 stores by 2026.