Your SlideShare is downloading. ×
0
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
1 q10 results presentation
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

1 q10 results presentation

164

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
164
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. CSU CARDSYSTEM S.A. investidorescsu@csu.com.br
  • 2. Disclaimer This presentation may include forward-looking statements about future events or results according to the regulations of Brazilian and international securities and exchange commissions. These statements are based on certain assumptions and analyses by the Company that reflect its experience, the economic environment, future market conditions and events expected by it, many of which are beyond its control. Important factors that may lead to significant differences between actual results and the statements of expectations about future events or results include the company’s business strategy, economic conditions in Brazil and abroad, technology, financial strategy, client business development, financial market conditions, uncertainty regarding the results of its future operations, plans, objectives, expectations and intentions, among others. As a result of these factors, the actual results of the Company may significantly differ from those mentioned or implicit in the statement of expectations about future events or results. The information and opinions contained in this presentation should not be understood as a recommendation to potential investors and no investment decision should be based on the veracity, currency or completeness of this information or these opinions. No advisors to the company or parties related to them or their representatives will be responsible for any losses that may result from the use or the contents of this presentation. 2
  • 3. Cards Markets and CardSystem Growth of the Cards Market (million - source: ABECS) 12.4% Private Label + Credit Market CardSystem 345 307 262 Average Annual Growth (3 years) 19.2% 26.5% 211 141 172 128 109 87 Growth (12 months) 12.4% 18.4% 70 179 204 124 153 102 1Q06 1Q07 1Q08 1Q09 1Q10 Private Label Credit Crédito Base growth continues quicker than Cards in CSU's Base (million) 18.4% market growth ; 24.6 20.8 Trend of replacing private label cards 17.6 with hybrid cards. 13.0 10.4 8.6 Opportunities from the opening of the Acquirer market. 1Q05 1Q06 1Q07 1Q08 1Q09 1Q10 3
  • 4. CardSystem – Operational Data Issue of Cards in CSU's Base (million) 2.4 1.7 1.6 1.4 1.4 1.5 1.3 1.1 1.1 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 Flex Cards Flex Cards Issue of more than 6.4 Mar-2009 Mar-2010 million new cards in the last 10% 16% 12 months; Flex Cards with increasing 90% 84% share of total card issues; Room still exists for growth Flex Cards No Flex Cards in the coming months. 4
  • 5. MarketSystem – Operational Data MarketSystem - Processed Accounts (million) 3.1 2.8 2.7 2.4 2.4 1Q09 2Q09 3Q09 4Q09 1Q10 100% organic growth in the period; 4.9% growth compared to 4Q09; Capture of three new clients for provision of Business Intelligence and Loyalty services. 5
  • 6. CSU.Contact Conclusion of the migration of operations to the Alphaview site in February; The goal of Alphaview is to raise the quality of services provided and reduce operating costs; In addition to transferring part of the operations, administrative areas such as purchasing, Human Resources and treasury were also transferred. Work Stations in Operation (Source: CSU) 4.539 4.520 4.506 4.225 4.002 3.972 3.934 3.494 3.268 1Q08 2QT08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 6
  • 7. CardSystem Gross Revenue Gross Profit and Gross EBITDA e EBITDA Margin (million) 2.9% Margin (million, %) 64.2 (million, %) 21.3% 20.8 25.3 12.8% 20.9 62.4 18.4 42.6% 35.0% 36.3% 32.1% 1Q09 1Q10 1Q09 1Q10 1Q09 1Q10 Revenue increase through organic growth of the card base; Gross profit and margin growth by reducing the company’s costs; Gains from economy of scale at card processing operations also helped improve margins. 7
  • 8. CSU.Contact Gross Revenue Gross Profit and Gross EBITDA and EBITDA (million) Margin Margin (million, %) (million, %) -9.3% 3.1 2.0 44.9 40.7 8.9% -77.0% 2.9 8.2% 0.5 4.9% 6.8% 1.2% 1Q09 1Q10 1Q09 1Q10 1Q09 1Q10 Contraction in revenue due to the lower volume of services in customer service centers; Reduction of 10.8% in unit costs, due to lower services volume, renegotiation of agreements with suppliers and the consolidation of the call center sites; Gross Profit and Margin Growth; The higher operating expenses led to a decline in EBITDA. 8
  • 9. Performance of Financial Indicators Gross Revenue CSU (million) 104.9 107.3 108.6 106.2 105.0 101.2 104.3 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 Ebitda CSU (million) 16.7 16.9 20.5 20.5 21.3 16.6 21.2 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 Ebitda Margin CSU (%) 17.7% 17.4% 20.6% 20.4% 21.6% 17.2% 21.8% 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 9
  • 10. Results - Units Gross Revenue CSU (million) 62.4 62.3 64.9 64.2 64.2 61.3 55.6 45.6 43.6 44.9 46.3 41.4 40.1 40.7 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 CardSystem CSU.Contact EBITDA CSU (million) 18.4 18.7 20.6 20.8 16.9 16.7 17.8 0.2 2.0 1.8 0.8 0.5 -0.2 -1.2 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 CardSystem CSU.Contact 10
  • 11. CSU (Consolidated) Gross Revenue Gross Profit and Gross Services Rendered (million) Margin (million) -2.2% (million, %) 28.4 -8.9% 107.3 19.8% 75.6 105.0 68.9 23.7 29.2% 23.9% 1Q09 1Q10 1Q09 1Q10 1Q09 1Q10 Higher share of electronic payment methods in revenue; Gross Profit and Margin Growth; The group’s operating margins improved thanks to: (i) result-oriented management, (ii) new controls, (iii) new policies, (iv) scale gains. 11
  • 12. CSU (Consolidated) Operational Expenses EBITDA and EBITDA Net Financial Result (million) (million) Margin (million, %) 15.1% 3.8% 34.7% 19.1 6.2 20.5 21.2 16.6 4.6 21.8% 20.6% 1Q09 1Q10 1Q09 1Q10 1Q09 1Q10 EBITDA grew by 3.8% which was limited by increased expenses; Significant 34.7% growth in Net Income versus 2009; EPS: R$ 0.13* in the quarter (excluding reserves); 12
  • 13. Debt and Capex Debit - R$ thousand 1Q10 1Q09 Chg. % 4Q09 Chg. % Short Term Debit 20.7 58.1 -64.4% 29.9 -30.8% Financing and Debt loan 10.5 47.4 -77.8% 19.3 -45.6% Leasing 10.2 10.7 -4.7% 10.6 -3.8% Longo prazo 41.9 29.7 41.1% 36.6 14.5% Financing and Debt loan 24.3 17.9 35.8% 19.9 22.1% Leasing 17.6 11.8 49.2% 16.7 5.4% Gross Debt 62.6 87.7 -28.6% 66.5 -5.9% (-) Cash 13.4 1.5 793.3% 11 21.8% Net Cash (Debt) 49.2 86.2 -42.9% 55.5 -11.4% Debt: Period cash flow enabled a reduction in net debt from R$ 86.3 million to R$ 49.2 million; CSU has no dollar-indexed debt nor does it make use of derivatives contracts. All debt is in Brazilian reais and indexed to the interbank (CDI) rate. The decline in money market rates (CDI) combined with the lower debt balance led to lower financial expenses; 13
  • 14. Debt and Capex Capex - R$ million 4Q09 4Q08 Chg. % 3Q09 % Chg. Systems (SW and HW) 4.4 7.9 -44.6% 5.6 -21.1% Hardware 1.2 4.5 -73.2% 0.6 112.2% Alphaview 0.9 - N/A 2.7 -66.9% Other 1.0 0.5 99.0% 0.3 268.9% Capex 7.5 12.9 -41.9% 9.2 -18.6% CAPEX: Investments 41.9% higher in the period. Customization of the payment means platform (Vision Plus); Development of the Acquirer processing module; Maintenance of Investments in the Alphaview project. 14
  • 15. Main Strategies for next quarter Maintenance of investments to ensure growth in all the Company’s units; Entry into Acquire segment; Consolidation of the recent changes in the commercial and relationship areas at CSU; Resumption of growth in CSU.Contact; Maintenance of the new levels of costs and quality. 15
  • 16. Questions & Answers Décio Burd Phones: (55 11) 3030-3821 E-mail: investidorescsu@csu.com.br Site: www.csu.com.br/ri

×