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3Q12 Earnings Release       November, 8th, 2012                             2
3Q12 Results | Highlights in the Period•   Entry into the special and high value-added medication market on July 23, throu...
3Q12 Results                       Gross Revenues Evolution                              (R$ million)                     ...
3Q12 Results                                            Gross Revenues Breakdown               (R$ Million)               ...
3Q12 Results               Gross Profit and Revenues from Services to Suppliers                                    (R$ mil...
3Q12 Results                      Operating Expenses - SGA                      (R$ million and % Net Revenues)           ...
3Q12 Results                       Ebitda and Ebitda Margin                      (R$ million and % Net Revenues)          ...
3Q12 Results                        Net Financial Expenses                      (R$ million and % Net Revenues)           ...
3Q12 Results                                Net Profit                      (R$ million and % Net Revenues)               ...
3Q12 Results                                                Summary of Cash Flow   (R$ Million)                           ...
3Q12 Results                                                       3Q11    2Q12   3Q12                    Cash Cycle - Day...
3Q12 Results               Indebtedness: Net Debt and Net Debt / Ebitda                                (R$ milllion)      ...
3Q12 Results                                  Capex                      (R$ million and % Net Revenues)                  ...
3Q12 Results                         Service Level                         Logistics E.P.M.                 (Units served ...
3Q12 Results                                               Stock Performance               160,00                         ...
3Q12 Results | Analyst Coverage   Company          Analyst                  Telephone           E-mail   Morgan Stanley   ...
Contatos RI                                  IR Contacts                     Max Fischer | Diretor Financeiro e de RI     ...
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Profarma 3Q12

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Profarma 3Q12

  1. 1. 1
  2. 2. 3Q12 Earnings Release November, 8th, 2012 2
  3. 3. 3Q12 Results | Highlights in the Period• Entry into the special and high value-added medication market on July 23, through the acquisition of an 80% stake in Arp Med S.A.’s capital stock, subject to prior approval by the Brazilian Anti-trust Committee (CADE), at an EV/EBITDA (2012E) multiple of 5.3x;• Consolidated gross revenues totaled R$ 957.7 million, representing a year-over-year growth of 15.3%;• The Company’s consolidated net income rose by 27.4% over 3Q11, and amounted to R$ 10.8 million, with net margin of 1.3%;• Consolidated EBITDA grew by 14.7% year-over-year, to R$ 22.1 million, with an EBITDA margin of 2.7%;• Sales of generic medications showed a 54.7% increase year-over-year. 3
  4. 4. 3Q12 Results Gross Revenues Evolution (R$ million) 957.7 919.5 830.3 3Q11 2Q12 3Q12 4
  5. 5. 3Q12 Results Gross Revenues Breakdown (R$ Million) 3Q12 3Q11 Chg. % 2Q12 Chg. % Branded 544.1 545.9 -0.3% 517.2 5.2% Generic 91.6 59.2 54.7% 66.3 38.2% OTC 133.5 134.7 -0.9% 132.5 0.8% Health and Beauty Products 71.1 63.0 12.9% 67.9 4.7% Hospitals and Vaccines 117.4 27.6 325.8% 135.6 -13.4% Total 957.7 830.3 15.3% 919.5 4.2% 5
  6. 6. 3Q12 Results Gross Profit and Revenues from Services to Suppliers (R$ million and % Net Revenues) 12.4% 10.7% 10.0% 42.0 31.1 27.5 52.8 56.2 43.1 3Q11 2Q12 3Q12 Gross Profit Revenues from Services to Suppliers Gross Profit Margin (%) 6
  7. 7. 3Q12 Results Operating Expenses - SGA (R$ million and % Net Revenues) 8.4% 7.9% 6.9% 64.5 64.0 48.5 3Q11 2Q12 3Q12 7
  8. 8. 3Q12 Results Ebitda and Ebitda Margin (R$ million and % Net Revenues) 4.1% 2.7% 2.7% 31.2 22.1 19.2 3Q11 2Q12 3Q12 8
  9. 9. 3Q12 Results Net Financial Expenses (R$ million and % Net Revenues) 1.0% 1.4% 0.6% 10.5 6.8 4.7 3Q11 2Q12 3Q12 9
  10. 10. 3Q12 Results Net Profit (R$ million and % Net Revenues) 1.6% 1.3% 1.2% 12.4 10.8 8.5 3Q11 2Q12 3Q12 10
  11. 11. 3Q12 Results Summary of Cash Flow (R$ Million) 3Q12 3Q11 Chg. % 2Q12 Chg. % Cash Flow Generated / (Used) in Operating Activities 6.1 45.0 -86.5% 18.2 -66,7% Internal Cash Generation 20.7 18.5 12.0% 30.5 -32.1% Operating Assets Variation (14.6) 26.5 - (12.3) -19.3% Trade Accounts Receivable (36.2) (29.5) -22.7% 52.7 - Inventories 36.0 24.1 49.8% 34.2 5.2% Suppliers (7.4) (4.0) -84.8% (93.5) 92.1% Other Items (7.1) 36.0 - (5.7) -24.7% Cash Flow (Used) in Investing Activities (3.9) (2.5) -57.5% (2.7) -43.1% Cash Flow Generated / (Used) by Financing Activities (10.0) (30.3) 67.0% (4.2) -138.6 Net Increase / (Decrease) in Cash (7.8) 12.2 - 11.3 - 11
  12. 12. 3Q12 Results 3Q11 2Q12 3Q12 Cash Cycle - Days * 56.3 59.1 56.1 Accounts Receivable (1) 39.9 47.4 48.8 Inventories (2) 46.1 48.9 41.9 Accounts Payable (3) 29.7 37.1 34.5 * Average (1) Average of Gross Revenues in the Quarter (2) Average of COGS in the Quarter (3) Average of COGS in the Quarter 12
  13. 13. 3Q12 Results Indebtedness: Net Debt and Net Debt / Ebitda (R$ milllion) 2.1x 2.1x 1.7x 203.1 202.0 119.8 3Q11 2Q12 3Q12 13
  14. 14. 3Q12 Results Capex (R$ million and % Net Revenues) 0.5% 0.4% 0.4% 3.9 2.9 2.5 3Q11 2Q12 3Q12 14
  15. 15. 3Q12 Results Service Level Logistics E.P.M. (Units served / Units Requested) (Errors per Million) 89.8% 157.0 89.2% 87.7% 107.0 90.0 3Q11 2Q12 3Q12 3Q11 2Q12 3Q12 15
  16. 16. 3Q12 Results Stock Performance 160,00 9,00 140,00 145 8,00 120,00 7,00 108 6,00 106 100,00 100 5,00 80,00 4,00 60,00 3,00 40,00 2,00 20,00 1,00 - - Turnover - PFRM3 (R$ Million) PFRM3 IBOV IGCX 16 16
  17. 17. 3Q12 Results | Analyst Coverage Company Analyst Telephone E-mail Morgan Stanley Fernando Amaral (55 11) 3048-6088 fernando.amaral@morganstanley.com Merrill Lynch Mauricio Fernandes (55 11) 2188-4236 mauricio.fernandes@baml.com Credit Suisse Marcel Moraes (55 11) 3841-6302 marcel.moraes@credit-suisse.com Itaú BBA Juliana Rozenbaum (55 11) 3073-3040 juliana.rozenbaum@itausecurities.com Banco Fator Gabriel Gaetano (55 11) 3049-9480 ggaetano@bancofator.com.br Guilherme Assis (55 11) 3513-8706 guilherme.assis@raymondjames.com Raymond James Joseph Giordano (55 11) 3513-8704 joseph.giordano@raymondjames.com BTG Pactual João Carlos dos Santos (55 11) 3383-2384 joaocarlos.santos@btgpactual.com Andre Parize (55 11) 5171-5870 andre.parize@votorantimcorretora.com.br Votorantim Marco Richieri (55 11) 5171-5873 marco.richieri@votorantimcorretora.com.br 17
  18. 18. Contatos RI IR Contacts Max Fischer | Diretor Financeiro e de RI Max Fischer | CFO and IRO Beatriz Diez | | IR Manager Beatriz Diez Gerente de RI 18Telefone.: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ri Phone.: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ri
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