Profarma 3q13
Upcoming SlideShare
Loading in...5
×
 

Like this? Share it with your network

Share

Profarma 3q13

on

  • 240 views

 

Statistics

Views

Total Views
240
Views on SlideShare
217
Embed Views
23

Actions

Likes
0
Downloads
0
Comments
0

1 Embed 23

http://ir.profarma.com.br 23

Accessibility

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Profarma 3q13 Presentation Transcript

  • 1. 3Q13 Earnings Release November 14, 2013
  • 2. Highlights in the Period • Consolidated EBITDA amounted to R$29.1 million, rising considerably by 32.0% in relation to 3Q12, with EBITDA margin of 3.3%, the highest in the last 4 years; • Consolidated gross revenues amounted to R$1.0 billion in 3Q13, up 5.4% year-over-year; • The Hospital & Specialties division’s gross revenues shot up by 28.9% year-over-year; • The Retail division, which comprised only Tamoio Drugstore Chain in 3Q13, recorded gross revenues of R$92.9 million, up 16.8% from 3Q12, with EBITDA margin of 5.7%; • On September 26, 2013, Profarma acquired the remaining 40% portion of Prodiet Farmacêutica S.A., in addition to the 60% stake acquired in 2011. The total acquisition amount corresponds to an EV/EBITDA multiple (2014E) of 5.6x; • On September 25, 2013, Profarma concluded the acquisition of Drogasmil/Farmalife Chain (CSB Drogarias). Only the assets and liabilities amounts were consolidated in 3Q13 due to the date on which the transaction was concluded. Income statement figures will be consolidated with Profarma’s as of 4Q13.
  • 3. Gross Revenues Evolution (R$ million) 1,016.9 1,009.1 957.7 127.1 162.9 163.9 830.6 854.0 845.2 3Q12 2Q13 3Q13 Pharmaceutical Distribution Hospital & Specialties Retail
  • 4. Gross Profit and Revenues from Services to Suppliers (R$ million and % Net Revenues) 12.9% 12.0% 10.7% 31.3 30.4 31.1 82.5 56.2 3Q12 Gross Profit 2Q13 Revenues from Services to Suppliers 74.2 3Q13 Gross Profit Margin (%)
  • 5. Operating Expenses - SGA (R$ million and % Net Revenues) 9.0% 8.6% 7.9% 79.0 74.5 64.0 3Q12 2Q13 3Q13
  • 6. Ebitda and Ebitda Margin (R$ million and % Net Revenues) 3.8% 3.3% 2.7% 33.1 29.1 22.1 3Q12 2Q13 3Q13
  • 7. Net Financial Expenses (R$ million and % Net Revenues) 2.1% 1.3% 0.6% 17.9 11.5 4.7 3Q12 2Q13 3Q13
  • 8. Net Profit (R$ million and % Net Revenues) 1.3% 1.4% 0.6% 12.6 10.8 5.4 3Q12 2Q13 3Q13
  • 9. Summary of Cash Flow (R$ Million) 3Q13 Cash Flow Generated / (Used) in Operating Activities Chg. % 3Q12 Chg. % 2Q13 (4,5) 6,1 - (31,6) 85,7% 20,7 20,7 - 23,6 -12,0% (25,2) (14,6) -72,4% (55,2) 54,3% Trade Accounts Receivable 87,1 (36,2) - 28,0 211,0% Inventories 36,8 36,0 2,1% (14,4) - Suppliers (119,2) (7,4) - (88,2) -35,1% Other Items (29,8) (7,1) -322,4% 19,4 - Cash Flow (Used) in Investing Activities (9,1) (3,9) -134,4% (78,8) 88,4% Cash Flow Generated / (Used) by Financing Activities (9,5) (10,0) 4,9% 72,4 - Net Increase / (Decrease) in Cash (23,1) (7,8) -195,3% (38,0) 39,0% Internal Cash Generation Operating Assets Variation
  • 10. 3Q12 2Q13 3Q13 56.1 56.3 54.5 Accounts Receivable (1) 48.8 55.1 48.7 Inventories (2) 41.9 49.1 48.5 Accounts Payable (3) 34.5 47.9 42.7 Cash Cycle - Days * * Average (1) Average of Gross Revenues in the Quarter (2) Average of COGS in the Quarter (3) Average of COGS in the Quarter
  • 11. Indebtedness: Net Debt and Net Debt / Ebitda (R$ milllion) 3.3x 2.1x 3.9x 432.8 359.4 203.1 3Q12 2Q13 3Q13
  • 12. Capex (R$ million and % Net Revenues) 0,5% 0,2% 0,1% 3,9 1,7 0,5 3Q12 2Q13 3Q13
  • 13. Service Level Logistics E.P.M. (Units served / Units Requested) (Errors per Million) 118.0 91.4% 103.9 89.2% 3Q12 2Q13 90.0 88.9% 3Q13 3Q12 2Q13 3Q13
  • 14. Financial DataTamoio – 3Q13 Operational Data Tamoio – 3Q13 (R$ million e % Gross Revenues) (R$ thousands) 92.9 # of stores Store Openings 29.8% 23.9% 59 8 SSS1 1 10.0% SSS Mature Stores (more than 36 months) Average Ticket (in reais) Gross Revenues Gross R$ million Margin Op. Exp. Total Ebitda Margin 4.1% Net Margin 25.52 Monthly Average Store's Sales 5.7% 8.9% 525.1 Revenues per Employee 60.7 1- Same Store Sales
  • 15. Stock Performance 100 12.7 10.3 6.9 100 Turnover - PFRM3 PFRM3 IBOV Index IGCX Index
  • 16. Analyst Coverage Company Analyst Phone number Email address Morgan Stanley Javier Martinez de Olcoz (55 11) 3048-6088 javier.martinez.olcoz@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 Pedro Ivo Barreto Zabeu (55 11) 3049-9478 pzabeu@bancofator.com.br BTG Pactual João Carlos dos Santos (55 11) 3383-2384 joaocarlos.santos@btgpactual.com Votorantim Andre Parize (55 11) 5171-5870 andre.parize@votorantimcorretora.com.br Brasil Plural Guilherme Assis (55 11) 3206-8285 guilherme.assis@brasilplural.com.br
  • 17. IR contacts Contatos RI Max Fischer | Chief Financial and IR de RI Max Fischer | Diretor Financeiro e Officer Beatriz Diez IR Manager Beatriz Diez || Gerente de RI Phone number: 55 (21) 4009-0276E-mail: ri@profarma.com.br | www.profarma.com.br/ri Telefone.: 55 (21) 4009-0276 | | E-mail: ri@profarma.com.br | www.profarma.com.br/ir