Your SlideShare is downloading. ×
0
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
Profarma 1 q13
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

Profarma 1 q13

158

Published on

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
158
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
2
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. 1Q13 Earnings ReleaseMay 15, 2013
  • 2. Highlights in the Period• The Company entered the pharmaceutical retail market. It acquired on January 17 100% of the Drogasmil and Farmalifechains, with 85 drugstores in Rio de Janeiro, for R$ 87.0 million, to be paid net of the Companys debt balance. OnJanuary 30, it acquired 50% of Drogarias Tamoio chain, with 57 drugstores in Rio de Janeiro. The transaction was madeby means of a primary subscription of R$ 62.3 million and a secondary subscription of R$ 43.1 million, with a multipleEV/EBITDA (2013E) of 7.5x;• On February 21, Profarma entered into a joint venture agreement with Nutrilatina to create Supernova. As a result,Profarma became the exclusive distributor and supplier of Nutrilatinas products for the pharmaceutical retail market andentered a new sales channel: body shops;• In March, the Company announced its first issue of debentures, totaling up to R$ 200.0 million. The proceeds from thisissue will be mainly used to pay for the acquisitions;• A drop of 3.5 days in the Companys cash cycle when compared with 1Q12, to 51.1 days. This decrease resulted in a fallof about R$ 19.1 million in working capital;• It is worth noting the generics category, whose sales rose significantly by 31.3% YoY and for the third straight quarter;• The annual price increase on March 31 came to 4.5% on average, the second highest in four years and twice as high aslast years.
  • 3. Gross Revenues Evolution(R$ million)4Q12 1Q131Q12971.0986.3954.5
  • 4. Gross Revenues Breakdown(R$ Million)BrandedGenericOTCHealth and Beauty ProductsHospitals, Vaccines and SpecialtyTotal1Q13518.5123.1133.979.4131.5986.31Q12552.793.7126.369.1112.7954.5Chg. %-6.2%31.3%6.0%14.8%16.7%3.3%4Q12544.1110.3127.277.2112.3971.0Chg. %-4.7%11.6%5.3%2.9%17.1%1.6%
  • 5. (R$ million and % Net Revenues)Gross Profit and Revenues from Services to SuppliersGross Profit Revenues from Services to Suppliers Gross Profit Margin (%)1Q1237.845.010.2%11.2%10.7%4Q1239.750.71Q1337.358.5
  • 6. 7.9%7.5%8.6%1Q1374.01Q1261.14Q1267.1(R$ million and % Net Revenues)Operating Expenses - SGA
  • 7. 4Q1218.81Q1318.81Q1220.22.2% 2.2%2.5%(R$ million and % Net Revenues)Ebitda and Ebitda Margin
  • 8. 1Q1310.91Q127.24Q126.3(R$ million and % Net Revenues)Net Financial Expenses0.9% 0.7%1.3
  • 9. 1Q136.91Q129.54Q127.8(R$ million and % Net Revenues)Net Profit0.8%1.2% 0.9%
  • 10. (R$ Million)Cash Flow Generated / (Used) in Operating ActivitiesInternal Cash GenerationOperating Assets VariationTrade Accounts ReceivableInventoriesSuppliersOther ItemsCash Flow (Used) in Investing ActivitiesCash Flow Generated / (Used) by Financing ActivitiesNet Increase / (Decrease) in CashSummary of Cash Flow1Q13(61.9)14.0(75.8)(102.6)5.033.7(11.9)(1.1)132.369.41Q12(72.2)20.0(92.3)(64.5)(13.0)(11.1)(3.7)(1.7)61.6(12.3)Chg. %14.3 %- 30.3%17.8%-59.2%--- 222.4%33.3%114.7%-4Q1256.918.238.7(18.9)(66.9)174.5(50.1)(3.0)(18.6)35.2Chg. %--23.3%----80.7%76.3%63.3%-96.9%
  • 11. * Average(1) Average of Gross Revenues in the Quarter(2) Average of COGS in the Quarter(3) Average of COGS in the QuarterCash Cycle - Days *Accounts Receivable (1)Inventories (2)Accounts Payable (3)59.547.455.81Q1351.151.048.252.94Q1246.350.749.745.81Q1254.6
  • 12. (R$ milllion)Indebtedness: Net Debt and Net Debt / Ebitda1Q13236.51Q12197.24Q12169.72.4x1.8x2.7x
  • 13. 1Q130.81Q121.74Q122.2(R$ million and % Net Revenues)Capex0.3%0.2% 0.1%
  • 14. Service Level(Units served / Units Requested)Logistics E.P.M.(Errors per Million)1Q12114.04Q1265.01Q13115.01Q1285.9%4Q1288.3%1Q1387.4%
  • 15. PFRM3 IBOV Index51.7Profarma vs Ibovespa - % 1Q13-7.5
  • 16. Analyst CoverageCredit Suisse Marcel Moraes (55 11) 3841-6302 marcel.moraes@credit-suisse.comBanco Fator Daniel Utsch (55 11) 3049-9483 dutsch@bancofator.com.brBTG Pactual João Carlos dos Santos (55 11) 3383-2384 joaocarlos.santos@btgpactual.comJuliana Rozenbaum (55 11) 3073-3040 juliana.rozenbaum@itausecurities.comItaú BBAJavier Martinez de Olcoz (55 11) 3048-6088 javier.martinez.olcoz@morganstanley.comMorgan StanleyAndre Parize (55 11) 5171-5870 andre.parize@votorantimcorretora.com.brVotorantimMerrill Lynch Mauricio Fernandes (55 11) 2188-4236 mauricio.fernandes@baml.comCompany Analyst Phone number Email address
  • 17. Contatos RIMax Fischer | Diretor Financeiro e de RIBeatriz Diez | Gerente de RITelefone.: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/riIR contactsMax Fischer | Chief Financial and IR OfficerBeatriz Diez | IR ManagerPhone number: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ir

×