20121009 apresentação webcast 3 t12 eng 1
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20121009 apresentação webcast 3 t12 eng 1 20121009 apresentação webcast 3 t12 eng 1 Presentation Transcript

  • 3Q12 EARNINGS PRESENTATIONOctober 24, 2012
  • DISCLAIMERThe Company makes forward looking statements that are subject to risks anduncertainties. These statements are based on the beliefs and assumptions of our management as wellas on information currently available to us. Forward-looking statements include information regarding ourcurrent intent, beliefs or expectations, in addition to those of the members of the Board of Directors andExecutive Officers of the Company.Forward-looking statements also include information regarding our possible or assumed future operatingresults, as well as statements preceded or followed by, or that include, the words believes”, may”,will”, continues”, expects”, anticipates”, intends”, plans”, estimates”, or similarexpressions.Forward-looking statements are not guarantees of performance. They involve risks, uncertainties andassumptions, for they relate to future events, thus depending on circumstances that may or may notoccur. Our future results and the creation of value to shareholder s may differ significantly from thoseexpressed in or suggested by these forward-looking statements. Many factors determining theseresults and values are beyond Cielo’s ability to control or predict. 2
  • CIELO | HIGHLIGHTS 3Q12 x 3Q11Net Income totaled R$ 588.9 million ,+28.7% and Net Margin of 38%;EBITDA totaled R$ 782.5 million,+32.1% and EBITDA Margin of 58.5%;Transaction financial volume , according to market criterion totaled, R$ 96.3 billion,+19.5% and Transaction financial volume, according to accounting criterion, totaled R$ 95.8billion, +20% Credit R$ 61.1 billion, +21.4% Debit R$ 34.6 billion, +17.7%Net Operating Revenue + prepayment of receivables totaled R$ 1.6 billion, +28.1% OthersCielo concluded the acquisition of 100% of the capital stock of U.S. company Merchant e- Solutions (MeS)Cielo wins the “Best and Biggest” award from Exame magazine for the sixth consecutive year as the bestservice industry company. The Company was also chosen for the twelfth consecutive year as one of the“Best Companies To Work For” by the guide in Você S/A magazine, and was also awarded best financialservices company in the Época Negócios 360º Annual Report from Época Negócios magazine. Cielo wasalso recognized as the best financial services company in the “ As 1000 melhores da Dinheiro 2012”ranking from Istoé Dinheiro magazine. Additionally, Cielo achieved the top spot in the InstitutionalInvestor Magazine general ranking in: Best IR Team, Best CEO, Bet CFO and Best IR Professional in the 3Financials ex-Banks sector according to both the buy-side and the sell-side in Latin America.
  • CIELO | FINANCIAL INDICATORS 3Q12 X Financial Indicators 3Q12 3Q11 2Q12 3Q12 X 2Q12 3Q11 Financial Volume (R$ million) 95,754.4 79,775.2 91,720.8 20.0% 4.4% Transaction (million) 1,334.2 1,166.9 1,282.0 14.3% 4.1% Net Revenue * (R$ million) 1,551.6 1,210.9 1,470.1 28.1% 5.5% Cost of Services (R$ million) (435.5) (365.6) (407.7) 19.1% 6.8% Operating Expenses (R$ million) (194.5) (160) (223.9) 21.6% -13.1% Unit Costs + Expenses ex subsidiaries (0.43) (0.41) (0.44) 3.8% -4.4% Adjusted EBITDA (R$ million) 782.5 592.3 705.1 32.1% 11.0% Net Income (R$ million) 588.9 457.5 548.9 28.7% 7.3% Blended Net MDR (bps) 103 103 103 0 0 Credit Net MDR (bps) 116 118 116 -2 0 Debit Net MDR (bps) 80 77 79 3 1 4* Including prepayment of receivables present value adjusted
  • CIELO | OPERATING PERFORMANCE Number of Transactions (million) Transaction Financial Volume (R$ million) 14.3% 20% 95,754 1,302 1,282 1,334 91,253 91,721 1,269 88,082 1,167 79,775 4.1% 560 35,219 33,150 4.4% 34,621 572 531 531 31,296 489 29,407 56,786 58,571 61,134 774 50,368 56,034 678 730 739 751 3Q11 4Q11 1Q12 2Q12 3Q12 3Q11 4Q11 1Q12 2Q12 3Q12 Debit cards Debit cards Credit Debit Number of Active Merchants (thousand) - 1 transaction in the last 60 days 11.9% 1,291 1,264 1,212 2.1% 1,199 1,153 3Q11 4Q11 1Q12 2Q12 3Q12 5
  • CIELO | REVENUES Commissions Revenue(R$ million) Equipment Rental (R$ million) 19.9% 388.2 986.8 42.5% 941.2 955.4 927.8 355.8 823.1 4.9% 275.6 342.9 286.4 254.1 261.4 9.1% 226.5 296.1 272.3 669.0 673.7 679.7 711.2 596.6 3Q11 4Q11 1Q12 2Q12 3Q12 3Q11 4Q11 1Q12 2Q12 3Q12 Credit DebitMDR 3Q11 4Q11 1Q12 2Q12 3Q12 POS 3Q11 4Q11 1Q12 2Q12 3Q12Net MDR Installed POS 77 81 81 79 80 (thousand) 1,402 1,484 1,524 1,586 1,657Debit % GPRS POSNet MDR 118 119 119 116 116 total base 31% 36% 39% 42% 44%Credit (thousand) 6
  • CIELO | PREPAYMENT OF RECEIVABLES Revenue of Prepayment of Receivables ex Adjustments (R$ million) 30.0% 212.4 207.9 193.2 190.1 -2.1% 159.9 3Q11 4Q11 1Q12 2Q12 3Q121 0 ,0 0 0.0 3 0 .0 % 2 9 .0 % 2 8 .0 % Volume of Prepayment (R$ million) Average Term (days) 9 ,0 0 0 .0 2 7 .0 % 2 6 .0 % 2 5 .0 % 8 ,0 0 0 .0 2 4 .0 % 2 3 .0 % 57.7 58.5 2 2 .0 % 56.0 55.8 55.7 7 ,0 0 0 .0 6,162.2 6,414.2 2 1 .0 % 2 0 .0 % 1 9 .0 % 6 ,0 0 0 .0 5,289.9 1 8 .0 % 4,899.2 1 7 .0 % 1 6 .0 % 5 ,0 0 0 .0 1 5 .0 % 3,894.6 1 4 .0 % 10.5% 10.5% 1 3 .0 % 4 ,0 0 0 .0 1 2 .0 % 9.3% 1 1 .0 % 1 0 .0 % 3 ,0 0 0 .0 9 .0 % 8.7% 8 .0 % 7.7% 7 .0 % 2 ,0 0 0 .0 6 .0 % 5 .0 % 4 .0 % 1 ,0 0 0 .0 3 .0 % 2 .0 % 1 .0 % - 0 .0 % 3Q11 4Q11 1Q12 2Q12 3Q12 Financial prepayment volume 3Q11 4Q11 1Q12 2Q12 3Q12 % Prepayment over Credit Financial Volume 7
  • CIELO | COSTS Costs of services rendered Depreciation and amortization Unit per transaction Costs Comparison 3Q12 X 3Q11 (R$ million) 435.5 18.5%  Increase of 3.7% of the unit 72.7 52.3 383.2 cost excluding the subsidiaries 72.7 323.4 60.4 362.8  If the impact of depreciation is 310.5 310.5 eliminated in the same 262.9 analysis, the increase would have been 3.3% 3Q12 Reported Costs related to 3Q12 Adjusted 3Q11 Adjusted subsidiaries 0.326 0.039 0.287 0.277 3.7% Costs Comparison 3Q12 X 2Q12 (R$ million) 435.5  Increase of 3.2% of the unit 383.2 7.3% 72.7 52.3 357 cost excluding the subsidiaries 72.7 73.8 362.8  If the impact of depreciation is 310.7 283.2 eliminated in the same analysis, the increase would 3Q12 Reported Costs related to 3Q12 Adjusted 2Q12 Adjusted have been 5.4% subsidiaries 0.326 0.039 0.287 0.278 3.2% 8
  • CIELO | EXPENSES Operating Expenses 3Q12 x 3Q11 (R$ million)  Reduction mostly 4.1 (1.0) (5.1) (12.5) (15.9) due to a decline in sales and marketing223.9 194.5 expenses 2Q12 Personnel General and Other Expenses Depreciation Sales and 3Q12 Administratives and Marketing Amortization Expenses Operating Expenses 3Q12 X 3Q11 (R$ million)  Increase mostly due 6.7 16.4 to the increased in 0.5 5.2 5.8 sales and marketing expenses 194.5 160.0 3Q11 Depreciation and Other Expenses General and Personnel Sales and 3Q12 Amortization Administratives Marketing Expenses 9
  • CIELO | FINANCIAL PERFORMANCE EBITDA (R$ million) Net Income (R$ million) 7 0 0 .0 6 0 .0 0 % 28.7% 32.1% 588.99 0 0 .0 7 5 .0 0 % 6 0 0 .0 566.6 548.9 5 5 .0 0 % 769.1 705.1 782.58 0 0 .0 504.5 654.5 7.3% 457.5 7 0 .0 0 % 5 0 0 .0 5 0 .0 0 %7 0 0 .0 592.3 11.0%6 0 0 .0 6 5 .0 0 % 4 0 0 .0 4 5 .0 0 %5 0 0 .0 63% 6 0 .0 0 % 3 0 0 .0 4 0 .0 0 %4 0 0 .03 0 0 .0 59% 59% 5 5 .0 0 % 41% 56% 2 0 0 .0 38% 37% 38% 3 5 .0 0 %2 0 0 .0 56% 37% 5 0 .0 0 %1 0 0 .0 1 0 0 .0 3 0 .0 0 % - 4 5 .0 0 % 3Q11 4Q11 1Q12 2Q12 3Q12 0 .0 2 5 .0 0 % 3Q11 4Q11 1Q12 2Q12 3Q12 EBITDA EBITDA Margin Net Income Adjusted Net Margin 10
  • ri@cielo.com.br+ 55 11 2596 1701