Brph apresentação call 1 t13 (eng) v5

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  • 1. 1Q13 Conference Call PresentationMay 15, 2013
  • 2. • Gross revenues of R$814.7 million, an increase of 16.5% over 1Q12.• Total SSS (same-store sales) of 10.8%, with 4.3% for mature stores• Adjusted EBITDA of R$34.8 million, with adjusted EBITDA margin of 4.3%• Adjusted net income of R$2.6 million, with adjusted net margin of 0.3%• Reinforcement of regional presence on a country-wide scale: With the opening of 9 new ownedstores and 19 franchisees, we ended 1Q13 with a base of 1.115 stores.• Conclusion of Big Ben & Guararapes corporate integration
  • 3. 243 Owned stores¹122 Owned stores133 Owned stores406 Franchises211 Owned storesSource: Brasil Pharma709 Owned stores406 Franchises1,115 storesREGIONSOwned storesNorth 118Northeast 249Midwest 131SoutheastSouth 211121114201525132017721221105 Distribution centers932National Footprint
  • 4.  9 openings in 1Q13 (+ 8 closings) 39.9% not yet at mature stage1- Includes 12 stores of the Guararapes drugstore chain.112.0%17.8%10.2%60.1%Stores with less than 12 monthsStores with 12 to 24 monthsStores with 24 to 36 monthsStores with more than 36 months
  • 5. Hering Grupo Pãode AçucarLojasAmericasMagazineLuizaRaiaDrogasil IMC Renner BRPH Marisa1Q12 1Q13699.3814.71Q12 1Q131Q12 1Q13
  • 6. 1Q12 1Q13Generic penetration in medicine sales37.5% 36.5% 37.1% 38.4% 37.9%16.4% 17.1% 17.0% 16.4% 16.5%46.1% 46.4% 45.9% 45.2% 45.6%1Q12 2Q12 3Q12 4Q12 1Q13Non-medicinesGeneric MedicineBranded medicine
  • 7.  Lower demand barred price adjustments1Q12 1Q13 Higher competition in some of the regions we operate
  • 8. 1Q12 1Q13Sales expenses SG&A total1Q12 1Q13G&A % Sales expenses % SG&A total %1Q12 2012 1Q13Proforma ProformaGross Revenues 699,349 3,094,293 814,653General and administrative expenses (G&A) (51,464) (206,540) (46,501)% Gross Revenues 7.4% 6.7% 5.7%G&A Dilution (R$000)
  • 9. -50.0%-40.0%-30.0%-20.0%-10.0%0.0%10.0%1Q12 1Q13-50%-40%-30%-20%-10%00%10%20%30%1Q12 1Q13
  • 10. 1Q12 1Q13ProformaNon recurring SG&A 16,726 (5,410)IPO /Debenture issuance expenses (108)Stock Option Plan (SOP) (1,508) (2,816)M&A/Branding (1,807) (684)Income related to Santana insurance 21,653Platforms Integration/Downsizing (1,504) (1,763)Other (147)Non recurring expenses (R$000)
  • 11. Cash position and indebtedness (R$000) 1Q12 4Q12 1Q13(+) Loans and financing 344,487 177,049 169,079Short term 241,251 83,229 44,864Long term 103,236 93,820 124,215(+) Debentures - 253,642 258,937Short term - 5,237 10,427Long term - 248,405 248,510(+) Accounts payable for investment acquisition 347,212 345,333 264,430Short term 34,833 99,711 82,833Long term 312,379 245,622 181,597(=) Total Indebtedness 691,699 776,024 692,446Short term (%) 39.9% 24.2% 19.9%Long term (%) 60.1% 75.8% 80.1%(-) Cash and cash equivalents (122,901) (368,751) (183,870)(=) Net Debt 568,798 407,273 508,576Net debt/Adjusted EBITDA (LTM) 3.4 X 2.1 X 2.7 XWorking capial 4Q11 1Q12 4Q12 1Q13Accounts receivable 21 22 23 24Inventories 114 86 95 106Suppliers 62 63 58 55Working capital in days 72 45 60 75
  • 12. Cash flow Statement (R$000) 1Q12 1Q13EBT 10,226 (7,553)(+) Depreciation and amortization 16,092 16,462(+) Others 13,142 24,389-Operating cash generation 39,460 33,298(+) Change in working capital (57,533) (83,142)(+) Change in other non current assets and liabilities (13,918) (13,781)Cash consumption (71,451) (96,923)Net cash generated by operating activities (31,991) (63,624)(-) Capex from operations (19,547) (24,922)(-) Acquisitions (286,332) (80,903)Net Cash from investing activities (305,879) (105,825)(+/-) Loans and financing 196,275 (15,431)(+) Equity funding 941 -Net Cash from financing activities 197,216 (15,431)Change in cash and cash equivalents (140,654) (184,881)Cash and cash equivalents - opening balance 263,555 368,751Cash and cash equivalents - closing balance 122,901 183,870
  • 13. • One more step into the process of cultural integration: dissemination of a unique and national cultureto our more than 17 thousand employees;• Endorsement: the storefront of the totality of our owned stores now carries Brasil Pharma’sendorsement;• Our regional brands remains, but now have beside them the name of a strong Comapany that Brazilalready knows and trusts
  • 14. 12CSC – Back-office of Stores & CorporateCommercial – Procurement & LogisticsPDV – Front store3SAP – Worldwide presence(1.000 largest companies) Retail 79% Wholesale 69% Pharma Industry 100%Implementation Phases:Phase 1 - 2013: Financing and AccountingPhase 2 - 2014: Procurement Department – Purchase and Logistics (under analysis)
  • 15. Jun-11Jul-11Aug-11Sep-11Oct-11Nov-11Dec-11Jan-12Feb-12Mar-12Apr-12May-12Jun-12Jul-12Aug-12Oct-12Nov-12Dec-12Jan-13Feb-13Mar-13Brasil Pharma IBOVSource: Bloomberg, as of March 31st, 2013.Company’s IPO on June 24, 2011.