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Presentation of 2 q06 results

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  • 1. Presentation of 2Q06 Results August 16, 2006
  • 2. BUSINESS ENVIRONMENTAugust 16, 2006• Card Base Expansion in 2006 • CAIXA Project 21% - Base Migration (Oct./06) CAGR Cards - Million - Implementation of the NOSSA CAIXA 358 Multi-purpose Card 308 244 • Growth in Consumer Credit Personal Credit Finance 177.1 185 158.1 165 2004 2005 2006 145 122.6 R$ billion Jun 125 98.5 105 98.1 85 • Market 65 • Losango Visa Card 45 • Credit Card Light Santander 2002 2003 2004 2005 2006* * Balance in December, except Jun. 2006 2 this presentation is subject to copyright and may not be copied or used without CSU’s express consent
  • 3. SEASONALITYAugust 16, 2006 Gross Revenue (R$ million) 98 87 90 90 83 76 68 64 56 57 48 49 46 40 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q06 2003 2004 2005 3 this presentation is subject to copyright and may not be copied or used without CSU’s express consent
  • 4. HIGHLIGHTSAugust 16, 2006 Gross Revenue x EBITDA (R$ million) 90 83 14.1 13.8* Operating Income x Net Income 2Q05 2Q06 6.2 Gross Revenue 3.7 0,6* EBITDA 0.3* 2Q05 2Q06 Operating Income (R$ million) Net Income (R$ million) * Excludig IPO expenses 4 this presentation is subject to copyright and may not be copied or used without CSU’s express consent
  • 5. GROSS REVENUEAugust 16, 2006 Gross Revenue Breakdown (R$ million) 83 90 151 180 100% 13.5 8.7 16.4 10.2 21.1 20.5 80% 60% 43.0 42.5 78.4 78.2 40% 20% 26.6 28.8 51.6 64.8 0% 2Q05 2Q06 1H05 1H06 CardSystem teleSystem Credit & Risk MarketSystem 5 this presentation is subject to copyright and may not be copied or used without CSU’s express consent
  • 6. COST OF SERVICESAugust 16, 2006 Revenue x Cost (R$ million) 8.5% 13.9% 90 Cost of Services Chg. % Business Units 83 72 13.7% CardSystem 63 teleSystem 7.6% Credit&Risk -16.6% MarketSystem Total 13.9% 2Q05 2Q06 Gross Revenue Cost of Services 6 this presentation is subject to copyright and may not be copied or used without CSU’s express consent
  • 7. GROSS INCOME Gross Income (R$ million)August 16, 2006 8.9% 25.3 18.2% 23.2 14.3 11.7 2Q05 2Q06 1H05 1H06 Main Factors Gross Income 2Q06 • Restructuring in TeleSystem and Credit&Risk Business Units R$ million Services Rendered CardSystem 9.2 •Implementation of new services teleSystem 1.1 •Trend Margins Profitability Recoup at Credit&Risk (0.8) Telesystem and Credi&rRisk Units 2.2 MarketSystem Total 11.7 7 this presentation is subject to copyright and may not be copied or used without CSU’s express consent
  • 8. OPERATING MARGINAugust 16, 2006 Gross Margin 18.5% 14.0% Adjusted Operating Margin 8.0% Net Financial Deferred 0.7% G&A Expenses Expenses Amortization -0.8% 0% -1.1% -1.4% -9.1% -11.5% 2Q05 2Q06 8 this presentation is subject to copyright and may not be copied or used without CSU’s express consent
  • 9. EBITDAAugust 16, 2006 40 42.4% 23.0% 32.1* -2.0% 30 22.6 21.0% 14.1 13.8* 20 19.2%* 19.0% 16.0% 18.2% 10 16.5%* 17.0% 0 15.0% 2Q05 2Q06 1H05 1H06 EBITDA EBITDA Margin EBITDA Trend * Excluding IPO expenses 9 this presentation is subject to copyright and may not be copied or used without CSU’s express consent
  • 10. CSU MAIN STRATEGIES (2006)August 16, 2006• Expansion of CardSystem and MarketSystem units marketshare • Implementation of Caixa Project • Capturing Clients from Competition • Focus on transforming private-label into branded cards• Boosting the Profits of TeleSystem and Credit&Risk Units •Various actions aiming at improving earnings in both units, laying the foundation for a period of more accentuated growth 10 this presentation is subject to copyright and may not be copied or used without CSU’s express consent