AllHome Corp., the country’s pioneering one-stop-shop for home improvement needs, is boosting its renewable energy use in store operations as part of the group’s push for sustainability.
AllHome said in a disclosure to the stock exchange it pipelined renewable-energy initiatives for all 59 stores in response to calls for more concerted efforts to ensure a sustainable future.
“AllHome will always push to remain on the cutting edge of industry trends, especially in retail. There has been a strong clamor all over the world for business entities to be cognizant on their responsibilities as members of larger communities. Renewable energy not only slows the harmful effect of industry to our planet, but offers us efficiencies in operations,” said AllHome vice chairman Camille Villar.
It recently kicked-off its renewable energy efforts with the installation of solar panels at its Bacolod branch and was followed by solar panel deployment in AllHome branches in Sto. Tomas, Silang, Vibal, Santiago, Antipolo, Sta. Maria and Imus.
Nine AllHome outlets, including six large format stores, have been installed with solar panels.
AllHome said the conversion to renewable energy sources provided an estimated 8-percent to 10-percent energy savings to the stores’ consumption. These solar panels also require little to no maintenance for the company.
AllHome also said its board of directors approved the declaration of P288.8 million in cash dividends to stockholders as of Nov. 29. This is equivalent to 20 percent of AllHome’s 2021 net income.
The cash dividend is payable on Dec. 29.
“In spite of a shift in focus of the ‘revenge spending’ from retail to leisure, we have stayed the course, sustaining our improvement over pre-pandemic performance in 2019 and even improved on our gross and EBITDA margins,” AllHome chairman Manuel Villar Jr. said.
“We remain resolute in our constant pursuit of improvement in our operational efficiencies and are pleased to deliver value to our shareholders as we continue our focus on maximizing 4Q 2022,” he said.