Profarma 2Q13

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Profarma 2Q13

  1. 1. 2Q13 Earnings Release August 15, 2013
  2. 2. Highlights in the Period • Consolidated gross revenues amounted to R$ 1.0 billion, up 10.6% year-over-year and EBITDA rose by 6.3% to R$ 33.1 million in the same period; • The Pharmaceutical Distribution division grew sharply by 10.3% year-over-year; • The Hospital & Specialties division expanded by 12.2% year-over-year and by 17.3% quarter-over-quarter; • After approval by the regulatory bodies (CADE), Profarma posts the results for the month of June of its retail operation Tamoio. In this period, it grew by 10.8% year-over-year, with a 4.4% EBITDA margin; • SAP was introduced as an Integrated System in the Tamoio chain’s financial and accounting divisions in June 2013, whereas at Arpmed, the development of the SAP System was initiated in April and came to completion in August; • The consolidated cash cycle was decreased by 2.8 days to 56.3 days. This decrease resulted in a fall of about R$ 24.8 million in working capital.
  3. 3. Gross Revenues Evolution (R$ million) 919.5 2Q12 774.3 145.2 1,016.9 2Q13 854.0 162.9 1Q13 847.4 138.9 986.3 Pharmaceutical Distribution Hospital & Specialties
  4. 4. Gross Profit Revenues from Services to Suppliers Gross Profit Margin (%) (R$ million and % Net Revenues) Gross Profit and Revenues from Services to Suppliers 2Q12 42.0 52.8 1Q13 37.3 58.5 2Q13 31.3 82.5 12.9% 12.4% 11.2%
  5. 5. 2Q132Q12 64.5 1Q13 74.0 8.6% 8.4% 9.0% (R$ million and % Net Revenues) Operating Expenses - SGA 79.0
  6. 6. 2Q12 31.2 1Q13 18.8 2Q13 33.12.2% 3.8% 4.1% (R$ million and % Net Revenues) Ebitda and Ebitda Margin
  7. 7. 2Q13 11.5 2Q12 10.5 1Q13 10.9 (R$ million and % Net Revenues) Net Financial Expenses 1.4% 1.3% 1.3%
  8. 8. (R$ million and % Net Revenues) Net Profit 1.4% 1.6% 0.8% 2Q13 6.9 2Q12 12.4 1Q13 12.6
  9. 9. 2Q12 18.2 30.5 (12.3) 52.7 34.2 (93.5) (5.7) (2.7) (4.2) 11.3 (R$ Million) Cash Flow Generated / (Used) in Operating Activities Internal Cash Generation Operating Assets Variation Trade Accounts Receivable Inventories Suppliers Other Items Cash Flow (Used) in Investing Activities Cash Flow Generated / (Used) by Financing Activities Net Increase / (Decrease) in Cash Summary of Cash Flow 2Q13 (31.6) 23.6 (55.2) 28.0 (14.4) (88.2) 19.4 (78.8) 72.4 (38.0) Chg. % - -22.7% -349.8% -46.9% - 5.7% - - - - 1Q13 (61.9) 14.0 (75.8) (102.6) 5.0 33.7 (11.9) (1.1) 132.3 69.4 Chg. % 48.9% 68.5% 27.3% - - - - - -45.3% -
  10. 10. * Average (1) Average of Gross Revenues in the Quarter (2) Average of COGS in the Quarter (3) Average of COGS in the Quarter Cash Cycle - Days * Accounts Receivable (1) Inventories (2) Accounts Payable (3) 55.1 49.1 47.9 2Q13 56.3 59.5 47.4 55.8 1Q13 51.1 47.4 48.9 37.1 2Q12 59.1
  11. 11. (R$ milllion) Indebtedness: Net Debt and Net Debt / Ebitda 2Q13 359.4 2Q12 202.0 1Q13 236.5 2.2x 2.6x 3.3x
  12. 12. 2Q13 1.7 2Q12 2.9 1Q13 1.0 (R$ million and % Net Revenues) Capex 0.1% 0.4% 0.2%
  13. 13. Nível de Serviço (Unidades atendidas / Unidades pedidas) Logistics E.P.M. (Errors per Million) 2Q12 87.9% 2Q13 88.9% 1Q13 87.4% 2Q12 107.0 118.0 2Q131Q13 115.0
  14. 14. Gross Revenues R$ million 28.7 Op. Exp. Total Gross Margin Ebitda Margin Net Margin 24.0% 28.6% Financial DataTamoio – jun/13 (R$ million e % Gross Revenues) 57 7 8.7% 25.35 503.1 21.2 # of stores Store Openings 1 SSS Mature Stores (more than 36 months) Average Ticket (in reais) Average Store's Sales Revenues per Employee 1- Same Store Sales 8.1%1SSS Operational Data Tamoio – jun/13 (R$ thousands) 4.4% 3.7%
  15. 15. Turnover - PFRM3 PFRM3 IBOV Index IGCX Index Stock Performance 100 8.3 -8.7 -22.1 100
  16. 16. Analyst Coverage Company Analyst Phone number Email address Credit Suisse Marcel Moraes (55 11) 3841-6302 marcel.moraes@credit-suisse.com BTG Pactual João Carlos dos Santos (55 11) 3383-2384 joaocarlos.santos@btgpactual.com Juliana Rozenbaum (55 11) 3073-3040 juliana.rozenbaum@itausecurities.comItaú BBA Javier Martinez de Olcoz (55 11) 3048-6088 javier.martinez.olcoz@morganstanley.comMorgan Stanley Andre Parize (55 11) 5171-5870 andre.parize@votorantimcorretora.com.brVotorantim Merrill Lynch Mauricio Fernandes (55 11) 2188-4236 mauricio.fernandes@baml.com Banco Fator Pedro Ivo Barreto Zabeu (55 11) 3049-9478 pzabeu@bancofator.com.br Guilherme Assis (55 11) 3206-8285 guilherme.assis@brasilplural.com.brBrasil Plural
  17. 17. Contatos RI Max Fischer | Diretor Financeiro e de RI Beatriz Diez | Gerente de RI Telefone.: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ri IR contacts Max Fischer | Chief Financial and IR Officer Beatriz Diez | IR Manager Phone number: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ir

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