Presentation 3Q 2011 (english)
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Presentation 3Q 2011 (english) Presentation 3Q 2011 (english) Presentation Transcript

  • RESULTS 3Q11
  • EBITDA and Net Revenues Growth • Officer and Padtec report exceptional results for the quarter, with EBITDA growth of 131.3% and 89.1%, respectively, relative to 3Q10 • Bolsa de Mulher announces its merger with e-Mídia, creating GrupoMulher.com, a leading company in the female digital media segment in Brazil • Beginning in September, CiaShop, a company that provides e-commerce solutions, will be included in the portfolio’s results • Ideiasnet finalized its divestment from TrinnPhone, through a management buyout, booking a R$ 2.4 million write-off • Combined proportional net revenues totaled R$ 362.3 million, up 21.7% relative to the previous quarter and 29.9% higher than in the same period last year • Combined proportional EBITDA came to R$ 17.8 million, an increase of 57.1% over the previous quarter and 351.4% higher than in the same period last year • EBITDA margin increased to 4.9% from 3.8% in 2Q11 and 1.4% in 3Q10. • Combined proportional net result before divestments totaled R$ 1.4 million, up 388.6% over 2Q11, reversing the R$ 4.4 million loss from 3Q10. Proportional Combination 3Q10 3Q11 ∆ 2Q11 3Q11 ∆ 9M10 9M11 ∆ Net Revenues 362.344 29,9% 297.825 362.344 21,7% 823.100 945.304 14,8% 278.896 EBITDA 3.934 17.756 351,4% 11.303 17.756 57,1% 24.745 36.921 49,2% % EBITDA margin 1,4% 4,9% 3,8% 4,9% 3,0% 3,9% Net Income before Disinvestments (4.358) 1.414 n.a. 289 1.414 388,6% (3.766) 75,5% (922) Disinvestments n.a. 526 (2.350) n.a. 9.388 5.935 -36,8% - (2.350) Net Income after Disinvestments (4.358) (936) 78,5% 816 (936) n.a. 5.621 5.013 -10,8% 2
  • Automatos: operations restructuring effects • Attained a 94% customer satisfaction rate following efforts by its operations team to implement necessary adjustments to its platforms and services; closed 3Q11 with a managed unit base of 4,555 • In final phase of the process of restructuring and redesigning the company’s operations to capitalize on synergies with Disec and Relativa • Signed 40 project contract and added 23 clients in 3Q11 • Hired new CFO: Alfredo Bertolini (R$ thousands) 3Q2010 3Q2011 Δ% 2Q2011 3Q2011 Δ% 9M2010 9M2011 Δ% GROSS REVENUES 3.651 5.176 41,8% 5.433 5.176 -4,7% 10.650 16.739 57,2% (-) Taxes and deductions (415) (43) -89,6% (345) (43) -87,5% (825) (1.229) 49,0% NET REVENUES 3.235 5.133 58,7% 5.087 5.133 0,9% 9.826 15.510 57,9% (-) Cost of goods sold (1.713) (3.153) 84,1% (1.963) (3.153) 60,6% (4.759) (6.791) 42,7% GROSS MARGIN 1.523 1.980 30,1% 3.125 1.980 -36,6% 5.066 8.719 72,1% % gross margin 47,1% 38,6% 0,0% 61,4% 38,6% 0,0% 51,6% 56,2% 0,0% (-) Operational expenses (3.128) (2.033) -35,0% (3.724) (2.033) -45,4% (6.215) (10.277) 65,4% EBITDA (1.605) (52) 96,7% (599) (52) 91,2% (1.148) (1.558) -35,7% % EBITDA margin -49,6% -1,0% 0,0% -11,8% -1,0% 0,0% -11,7% -10,0% 0,0% (-) Depreciation 94,1% 0,4% 108,0% (329) (639) (637) (639) (884) (1.838) (-) Net financial expenses (876) (437) -50,1% (1.368) (437) -68,1% (1.789) (2.895) 61,8% (-) Taxes and social contributions 126 - - - (179) - (-) Minority interests - (0) 0 (0) - (161) NET INCOME (2.685) (1.129) 57,9% (2.604) (1.129) 56,6% (4.000) (6.453) -61,3% 3
  • Bolsa de Mulher: restructuring • The company tallied 14.3 million unique visitors in September and 9.9 million subscriptions in 3Q11. • Hired new CFO: Alexandre Steinhauser, and new Commercial officer: André Chaves • Revenues were down compared to 3Q10 due to the elimination of exchanges in 2011 and were also down relative to 2Q11 due to the restructuring of the ad server which delayed the delivery of certain services in the quarter, which will be recouped in 4Q11 (R$ thousands) 3Q2010 3Q2011 Δ% 2Q2011 3Q2011 Δ% 9M2010 9M2011 Δ% GROSS REVENUES 4.829 2.664 -44,8% 3.690 2.664 -27,8% 13.712 8.948 -34,7% (-) Taxes and deductions 4,4% 18,2% (1.389) (1.200) -13,5% (480) (500) (424) (500) NET REVENUES 4.350 2.163 -50,3% 3.266 2.163 -33,8% 12.323 7.748 -37,1% (-) Cost of goods sold -24,1% -22,1% -39,2% (76) (58) (74) (58) (408) (248) GROSS MARGIN 4.274 2.105 -50,7% 3.192 2.105 -34,0% 11.915 7.500 -37,1% % gross margin 98,3% 97,3% 0,0% 97,7% 97,3% 0,0% 96,7% 96,8% 0,0% (-) Operational expenses (5.003) (3.051) -39,0% (3.764) (3.051) -18,9% (13.778) (10.068) -26,9% EBITDA -29,8% -65,5% (1.862) (2.568) -37,9% (729) (946) (571) (946) % EBITDA margin -16,8% -43,7% 0,0% -17,5% -43,7% 0,0% -15,1% -33,1% 0,0% (-) Depreciation 41,6% -1,9% 45,4% (20) (28) (29) (28) (58) (85) (-) Net financial expenses 16 -52,1% 126,2% (77) (161) (77) (136) (307) (-) Taxes and social contributions 13 - - - - - (-) Minority interests - 10 4 10 129,2% - 17 NET INCOME (1.041) -44,6% (1.041) -37,5% (2.056) (2.942) -43,1% (720) (757) 4
  • MoIP: impressive growth Transaction volume increased by 78.5% in 3Q11 relative to 2Q11, totaling 178 thousand transactions in the • quarter The company reviewed its contracts in 3Q11, removing clients who had trouble delivering merchandise • The Company’s sales contracted in September as a result of market exchange variation • Several modifications were made to the payment system in order to handle the higher sales conversion • expected in 4Q11 (R$ thousands) 3Q2010 3Q2011 Δ% 2Q2011 3Q2011 Δ% 9M2010 9M2011 Δ% GROSS REVENUES 4.353 5.069 16,4% 4.109 5.069 23,4% 10.931 13.941 27,5% (-) Taxes and deductions (377) (324) -13,9% (279) (324) 16,1% (945) (944) -0,2% NET REVENUES 3.977 4.745 19,3% 3.830 4.745 23,9% 9.985 12.997 30,2% (-) Cost of goods sold (2.472) (2.352) -4,8% (2.014) (2.352) 16,8% (6.712) (6.751) 0,6% GROSS MARGIN 1.505 2.393 59,0% 1.816 2.393 31,8% 3.273 6.246 90,8% % gross margin 37,8% 50,4% 0,0% 47,4% 50,4% 0,0% 32,8% 48,1% 0,0% (-) Operational expenses (1.911) (1.321) -30,9% (1.225) (1.321) 7,8% (2.933) (3.634) 23,9% EBITDA (406) 1.072   591 1.072 81,4% 340 2.613 667,8% % EBITDA margin -10,2% 22,6% 0,0% 15,4% 22,6% 0,0% 3,4% 20,1% 0,0% (-) Depreciation (6) (12) 111,1% (8) (12) 37,7% (12) (26) 124,4% (-) Net financial expenses (107) (27) -74,6% (23) (27) 20,1% -21,6% (121) (95) (-) Taxes and social contributions (485) (132) -72,7% (306) (132) -56,8% (1.189) (880) -26,0% (-) Minority interests - - - - - - NET INCOME (1.003) 901   254 901 255,1% (981) 1.611   5
  • Officer – enhancing margins Increased demand for X-Box and iPads, products with higher-than-average margins • • Microsoft began producing X-Boxes in Brazil, adjusting the product’s price to the local market, increasing the importance of the games segment for Officer Increase in sales prior to Children’s Day with prospects of exceptionally healthy Christmas sales • EBITDA margin widened from 2.5% in 3Q10 to 4.3% in 3Q11 • (R$ thousands) 3Q2010 3Q2011 Δ% 2Q2011 3Q2011 Δ% 9M2010 9M2011 Δ% GROSS REVENUES 271.780 370.150 36,2% 296.154 370.150 25,0% 741.694 958.222 29,2% (-) Taxes and deductions (45.857) (63.933) 39,4% (50.185) (63.933) 27,4% (122.657) (169.062) 37,8% NET REVENUES 225.923 306.217 35,5% 245.969 306.217 24,5% 619.037 789.160 27,5% (-) Cost of goods sold (197.711) (265.625) 34,4% (211.252) (265.625) 25,7% (539.841) (681.644) 26,3% GROSS MARGIN 28.212 40.592 43,9% 34.717 40.592 16,9% 79.196 107.516 35,8% % gross margin 12,5% 13,3% 0,0% 14,1% 13,3% 0,0% 12,8% 13,6% 0,0% (-) Operational expenses (22.545) (27.485) 21,9% (25.053) (27.485) 9,7% (64.513) (76.305) 18,3% EBITDA 5.667 13.107 131,3% 9.664 13.107 35,6% 14.683 31.211 112,6% % EBITDA margin 2,5% 4,3% 0,0% 3,9% 4,3% 0,0% 2,4% 4,0% 0,0% (-) Depreciation (1.089) 117,0% (1.089) 37,2% (1.400) (2.408) 72,1% (502) (794) (-) Net financial expenses (2.482) (8.541) 244,1% (5.741) (8.541) 48,8% (7.888) (18.822) 138,6% (-) Taxes and social contributions (1.869) 93,0% (1.221) (1.869) 53,1% (1.505) (4.279) 184,2% (968) (-) Minority interests - - - - - - NET INCOME 1.715 1.608 -6,2% 1.908 1.608 -15,7% 3.890 5.702 46,6% 6
  • Padtec: growth and margins increase • Signature of a new contract to supply a fiber-op0tic cable linking Panama and Mexico • Launch of a new generation of G-PON products and a new Ethernet switch • CIVCOM made its first component deliveries to Fujitsu • Improvement in the product mix, with a higher share of 40 Gigabyte switches, whose margins are higher (R$ thousands) 3Q2010 3Q2011 Δ% 2Q2011 3Q2011 Δ% 9M2010 9M2011 Δ% GROSS REVENUES 58.180 79.195 36,1% 55.986 79.195 41,5% 138.301 203.906 47,4% (-) Taxes and deductions (11.284) (15.696) 39,1% (11.566) (15.696) 35,7% (27.620) (41.223) 49,3% NET REVENUES 46.896 63.499 35,4% 44.420 63.499 43,0% 110.682 162.683 47,0% (-) Cost of goods sold (26.710) (31.597) 18,3% (26.252) (31.597) 20,4% (61.717) (86.741) 40,5% GROSS MARGIN 20.186 31.902 58,0% 18.168 31.902 75,6% 48.965 75.942 55,1% % gross margin 43,0% 50,2% 0,0% 40,9% 50,2% 0,0% 44,2% 46,7% 0,0% (-) Operational expenses (11.540) (15.555) 34,8% (13.368) (15.555) 16,4% (31.943) (45.583) 42,7% EBITDA 8.646 16.347 89,1% 4.800 16.347 240,6% 17.022 30.359 78,3% % EBITDA margin 18,4% 25,7% 0,0% 10,8% 25,7% 0,0% 15,4% 18,7% 0,0% (-) Depreciation (938) (699) -25,5% (748) (699) -6,6% (1.317) (2.135) 62,1% (-) Net financial expenses (2.087) (3.784) 81,3% (1.748) (3.784) 116,5% (3.472) (6.631) 91,0% (-) Taxes and social contributions 24 (1.375) 248 (1.375) 548 (2.084) (-) Minority interests - 841 (684) - 157 (684) NET INCOME 5.645 9.805 73,7% 3.393 9.805 189,0% 12.782 19.666 53,9% 7
  • TecTotal: company reports growth • The company entered into two new contracts with telephony operators and continued to increase its sales to retailers, which should have a positive impact on 4Q11 results • The company’s expenses increase in 3Q11 due to the restructuring of its sales structure to prepare for the fourth quarter, whose results are expected to be higher due to end-of-year sales Launched a new GPS support and maintenance service in 3Q11 • (R$ thousands) 3Q2010 3Q2011 Δ% 2Q2011 3Q2011 Δ% 9M2010 9M2011 Δ% GROSS REVENUES 5.815 7.024 20,8% 6.171 7.024 13,8% 13.578 18.154 33,7% (-) Taxes and deductions (393) (580) 47,6% (440) (580) 31,8% (915) (1.357) 48,3% NET REVENUES 5.422 6.444 18,8% 5.731 6.444 12,4% 12.662 16.797 32,7% (-) Cost of goods sold (4.857) (4.155) -14,5% (3.855) (4.155) 7,8% (7.752) (11.185) 44,3% GROSS MARGIN 565 2.289 304,9% 1.876 2.289 22,0% 4.910 5.612 14,3% % gross margin 10,4% 35,5% 0,0% 32,7% 35,5% 0,0% 38,8% 33,4% 0,0% (-) Operational expenses (808) (2.029) 151,1% (1.576) (2.029) 28,8% (4.090) (5.137) 25,6% EBITDA (243) 260   300 260 -13,5% 820 475 -42,1% % EBITDA margin -4,5% 4,0% 0,0% 5,2% 4,0% 0,0% 6,5% 2,8% 0,0% (-) Depreciation (118) (140) 18,3% (124) (140) 12,6% (350) (380) 8,5% (-) Net financial expenses (399) (16) -96,1% 10 (16) (586) (23) -96,2% (-) Taxes and social contributions - (23) (36) (23) -35,5% - (59) (-) Minority interests - - - - - - NET INCOME (760) 81   151 81 -46,2% (115) 14   8
  • 3Q11 ResultsThis presentation may contain forward-looking statements concerning future trends and results.These projections are subject to risks and uncertainties and future results may differ materially from such forward-lookingstatements. Many of these risks refer to factors that are beyond Ideiasnet’scontrol or ability to anticipate. including marketconditions. currency fluctuations. the behavior of competitors. the regulatory environment. the company’s ability to continueraising funds and changes in the social and political context in which Ideiasnet operates or in economic trends or conditions.including inflation and changes in consumer confidence levels. on a global. national or regional scale.Readers are hereby advised not to rely only on these trends and projections. nor is Ideiasnet obliged to publish any changesto these trends or projections to reflect subsequent events or circumstancesFor more information. contact the Investor Relations team:Sami HaddadRicardo Rosanova GarciaRenata Vencatori@ideiasnet.com.br
  • Ideiasnet S.A. Rua Visconde de Pirajá, 572 - 4º andarIpanema | Rio de Janeiro | Brasil | 22410-002 Tel: (21) 3206-9200 | Fax: (21) 3206-9201