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Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
Profarma apresentação 2 q10 final
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Profarma apresentação 2 q10 final

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  • 1. 2Q10 Earnings Release August, 11th, 2010.
  • 2. 2Q10 Earnings Release Highlights For The Period • The company’s net profit increased 47.1% in relation to the previous quarter, reaching R$ 11.4 million representing a net margin of 1.9%; • A reduction of the inventory level in 11.2 days when compared to the 1Q10, reaching R$ 278.9 million or 45 days; • A positive cash operating generation of R$ 47.4 million or 7.8% of the net operating revenue; • A reduction of the relation, net debt / ebitda of the company in 6.7%, reaching 1.4x, leaving behind a position of 1.5x in the previous quarter; • A reduction of 42.4% of the EPM (errors per million of delivered units) dropping from 210.0 registered in the 1Q10 to 121.0 in the 2Q10; • The sales volume through electronic orders beats the record and reaches 63,5% of the total of the sales in this quarter. 2
  • 3. 2Q10 Earnings Release Gross Revenues Evolution (R$ million) 764.3 766.0 724.7 2Q09 1Q10 2Q10 3
  • 4. 2Q10 Earnings Release Gross Revenues Breakdown (R$ Million) 2Q10 2Q09 Chg. % 1Q10 Chg. % Branded 477.5 514.0 -7.1% 511.7 -6.7% Generic 50.3 41.2 21.9% 51.6 -2.5% OTC 143.8 153.3 -6.2% 148.4 -3.1% Health and Beauty Products 28.8 27.0 6.6% 26.8 7.5% Hospitals and Vaccines 24.3 28.9 -15.7% 27.6 -11.9% Total 724.7 764.3 -5.2% 766.0 -5.4% 4
  • 5. 2Q10 Earnings Release Market Share Evolution (%) 11.7 11.5 10.9* 10.9* 10.0 9.6 9.6 9.5* 2005 2006 2007 2008 2009 2Q09 1Q10 2Q10 *Excluding the similar’s effect Source: IMS 5
  • 6. 2Q10 Earnings Release Gross Profit and Revenues from Services to Suppliers (R$ million and as % Net Revenues) 13.4% 12.3% 10.4% 3.7 25.1 20.0 82.9 49.7 46.5 2Q09 1Q10 2Q10 Gross Profit Revenues from Services to Suppliers Gross Profit Margin (%) 6
  • 7. 2Q10 Earnings Release Operating Expenses (R$ million and as % Net Revenues ) 8.9% 7.7% 7.5% 53.8 49.9 48.1 2Q09 1Q10 2Q10 7
  • 8. 2Q10 Earnings Release Net Financial Expenses (R$ million and as % Net Revenues) 1.9% 1.3% 0.8% 11.8 8.5 5.4 2Q09 1Q10 2Q10 8
  • 9. 2Q10 Earnings Release Net Profit (R$ million and as % Net Revenues) 2.8% 1.9% 1.2% 17.9 11.4 7.8 2Q09 1Q10 2Q10 9
  • 10. 2Q10 Earnings Release Ebitda and Ebitda Margin (R$ million and as % Net Revenues) 5.8% 3.6% 2.8% 37.8 21.8 17.9 2Q09 1Q10 2Q10 10
  • 11. 2Q10 Earnings Release CASH FLOW (R$ Million) 2Q10 2Q09 Chg. % 1Q10 Chg. % Cash Flow Generated / (Used) in Operating Activities 47.4 26.3 80.1% (43.9) - Internal Cash Generation 17.9 24.8 -27.8% 14.5 23.7% Operating Assets Variation 29.5 1.5 1829.3% (58.4) - Trade Accounts Receivable 28.3 (33.2) - (1.8) - Inventories 91.5 11.5 697.4% (24.2) - Suppliers (99.3) 18.4 - (36.4) -172.6% Other Items 9.0 4.8 86.1% 4.0 122.1% Cash Flow (Used) in Investing Activities (1.9) (2.7) 30.1% (1.5) -27.3% Cash Flow Generated / (Used) by Financing Activities (54.4) (61.1) 11.0% 69.8 - Net Increase / (Decrease) in Cash (8.8) (37.4) 76.5% 24.5 - 11
  • 12. 2Q10 Earnings Release 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 Cash Cycle – Days * 49.3 53.4 62.5 69.6 67.8 64.3 68.8 67.2 61.8 65.8 67.9 58.7 51.6 52.7 64.9 66.2 Accounts Receivable (1) 45.2 50.0 54.6 53.1 50.9 51.7 50.7 49.2 47.0 45.9 42.4 40.5 38.4 41.1 43.4 42.2 Inventories (2) 33.1 44.7 43.4 47.2 41.3 48.6 47.9 45.7 42.5 49.9 54.0 46.5 38.5 49.6 56.2 45.0 Accounts Payable (3) 29.0 41.3 35.6 30.7 24.5 36.0 29.8 27.7 27.7 29.9 28.5 28.4 25.3 38.0 34.7 21.0 * 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. 2Q10 Earnings Release Indebtedness: Net Debt and Net Debt / Ebitda* (R$ million) 1.5x 1.4x 1.2x 167.3 132.5 112.0 2Q09 1Q10 2Q10 * Ebitda = Accumulated last 12 months 13
  • 14. 2Q10 Earnings Release Capex (R$ million and as % Net Revenues) 0.4% 0.2% 0.3% 2.8 1.9 1.5 2Q09 1Q10 2Q10 14
  • 15. 2Q10 Earnings Release Operating Indicators Service Level Logistics E.P.M. (units served / units requested) (Errors per Million) 92.3% 210.0 92.0% 89.6% 121.0 112.0 2Q09 1Q10 2Q10 2Q09 1Q10 2Q10 15
  • 16. 2Q10 Earnings Release Profarma vs Ibovespa - % 1 year 190 160 157 130 118 100 70 40 30-jun-09 30-jul-09 29-aug-09 28-sep-09 28-oct-09 27-nov-09 27-dec-09 26-jan-09 25-feb-09 27-mar-09 26-apr-09 26-may-09 25-jun-09 Ibovespa Profarma 16
  • 17. 2Q10 Earnings Release Analyst Coverage Firm Analyst Javier Martinez de Olcoz Cerdan Morgan Stanley Phone: (1 212) 761-4542 E-mail: javier.martinez.olcoz@morganstanley.com Alexandre Pizano Merrill Lynch Phone: (55 11) 2188-4024 E-mail: alexandre_pizano@ml.com Marcel Moraes Credit Suisse Phone: (55 11) 3841-6302 E-mail: marcel.moraes@credit-suisse.com Juliana Rozenbaum - Marcio Osako Phone: (55 11) 3073-3035 / (55 11) 3073-3040 Itaú BBA E-mail: juliana.rozenbaum@itausecurities.com E-mail: marcio.osako@itausecurities.com Iago Whately Banco Fator Phone: (55 11) 3049-9480 E-mail: iwhately@bancofator.com.br Guilherme Assis Raymond James Phone: (55 11) 3513-8706 E-mail: guilherme.assis@raymondjames.com João Carlos dos Santos BTG Pactual Phone: (55 11) 3383-2384 E-mail: joaocarlos.santos@btgpactual.com 17
  • 18. IR Contacts Max Fischer CFO and IR Director Beatriz Diez IR Manager Telephone.: 55 (21) 4009 0276 E-mail: ri@profarma.com.br www.profarma.com.br/ir

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