AllHome poses double-digit net income growth in 2021

The company recorded a 46% year-on-year increase to P1.44b.

One-stop full line home center AllHome Corp. reported its net income after tax grew 46% year-on-year to P1.44b in 2021 from P988m in 2020 as the Philippines continues to reopen its economy.

The company’s revenue also climbed 15% in net revenue to P14.32b in 2021 from P12.41b in 2020; whilst its gross profit also went up by 28% to P5.019b against P3.92b in the previous year.

“AllHome’s performance in FY 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,” AllHome Chairman Manuel Villar, Jr. said.  

“All signs point to an increased pace of economic recovery throughout the country, and this bodes well for AllHome.”

Over the past year, the company launched initiatives to adapt to the changing consumer behavior and their increasing reliance on e-commerce as a sales channel. As of December 2021, AllHome’s e-commerce revenue accounted for 11%  of the company’s total revenue.

“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[1]channel presence and grow our consumer base,” AllHome Vice Chairman Camille Villar said.

According to AllHome, improvements were particularly observed in the company’s same-store sales growth after it rose to 8.1% in 2021 from 3.5% in 2020.