PChome Online Report NT$8.2 billion Revenue for The First Quarter of 2018
PChomeStore Demonstrates Growth Beyond Expectation, Preparing for Overseas IPO
PChome Online (8044-TW) today (May 15th) announced consolidated financial report for the first quarter of 2018. Consolidated revenue for the first quarter of 2018 is NT$8.2 billion, yoy 18.4%. Online shopping revenue also grows by 22.4%. Due to with the investments in fulfillment service and the stronger-than-expected growth of Personal Store, operating expense increased by NT$1 billion compared with the same period last year, loss attributable to owners of parent is NT$472 million and net loss is NT$843 million.
“PChome online shopping business is growing rapidly. B2C online shopping business grows by 22.4% yoy. Investments in logistics and warehouses are noticeable. After launching Taichung warehouse, PChome will provide 6-hr delivery service in Taichung, making it the second city in Taiwan to enjoy 6-hr delivery.” Chairman of PChome Online—Hung-Tze Jan said. “We always see ‘everyday reliable’ as our responsibility and aim to provide 6-hr online shopping to the six major cities in Taiwan. Meanwhile, Personal Store continues the growth momentum from last year, GMV for this quarter grows by 600% compared with the same period last year. Personal Store has brought tremendous users and transactions to the group; its rapid growth is far beyond our expectation and thus laid out a decent foundation for Personal Store to monetize. Personal Store is cultivating a promising future, which includes the preparation of overseas IPO.”
2018 first quarter operating highlights:
• PChome24h Shopping revenue is triggered by winter home appliances and new year gifts purchases. PChome24h is the only licensed Xiaomi online channel, besides from its official website, in Taiwan. Xiaomi flagship store on the website demonstrate a wide variety of hot items and enjoy high popularity in the market.
• PChomeStore B2B2C shopping mall has more than 200 million listings and more than 90,000 vendors. Personal Store has integrated with PChomePay and raised the free shipping requirement to NT$99/per order in March. With NT$12 billion quarterly GMV and 11 million monthly CVS delivery, Personal Store wins the leading position of mobile eCommerce in Taiwan.
2018 first quarter financial highlights:
• 2018 Q1 consolidated revenue is NT$8.2 billion, yoy 18.4%. Net loss is NT$843 million. The decrease of Q1 operating income is mainly due to the stronger-thanexpected growth of marketplace business with the marketing expense of NT$898 million.
• 2018 Q1 unconsolidated revenue is NT$7.6 billion, yoy 22.4%. Net loss is NT$472 million. The decrease of gross profit margin is because of 3c-n3c product mix. The decrease of net non-operating income is resulted from the NT$564 million net loss recognition of PChomeStore (4965-TW).
