Earnings Release 3Q09 Presentation

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  • It seems to me that we do not show projections in our presentation of the 2nd quarter release. After we finish the whole presentation review this text.
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  • 1. Earnings Release 3Q09
  • 2. Disclaimer
    • This presentation contains forward-looking statements relating to the business outlook, operating and financial projections, and the growth prospects of Tempo Participações S.A..
    • These statements merely represent projections and as such are based exclusively on Management’s expectations about the future of the business.
    • Such forward-looking statements depend substantially on changes in market conditions, the performance of the Brazilian economy, the industry and international markets, and therefore are subject to change without prior notice.
  • 3. Segments Overview Dental Health Assistance Assistance Services Ranking: #1 17 millions of items Market: B2B e B2B2C Healthcare Administration Ranking: #1 1,34 million of lives Market: B2B Dental HMO Ranking: #3 851K of lives Market: B2B and B2B2C
  • 4. Tempo – Results by Segments (*) EBITDA excludes non-recurring expenses. Note 1: Conciliation of results found on page 16 of the 3Q09 Earnings Release.
    • Closing of a Memorandum of Understanding with Unibanco Saúde Seguradora S.A. transferring the totality of its capital stock to Tempo. The acquisition is going to bring approximately 70 thousand lives in corporate health plans and distribution channel contracts through Itaú-UBB brokerage channel;
    • Health Segment: growth in the Homecare division and health plan management;
    • Assistance Segment: improvement in EBITDA margin in the last nine months ;
    • Dental Segment: expansion of the Affinity channels ;
    • Progress in the SAP implementation ;
    • Buyback Program: repurchase of 7.16 million of shares representing an investment of R$ 20.4 million;
    • The average daily volume traded in October was of R$5.9 million .
    Highlights
  • 5. 3Q08 3Q09 Tempo – EBITDA Mix Tempo EBITDA’s Breakdown shows an evolution of Tempo’s mix EBITDA (R$ Millions) and EBITDA Margin %
  • 6.
    • Net Revenues: growth of 6.3% vs 3Q08 and 2.5% vs 2Q09
    • EBITDA: R$ 8.2MM, growth of 36.1% vs 3Q08, 61.7% vs 2Q09
    • EBITDA Margin : increase of 2.6pp and 1.5pp vs 2Q09 and 3Q08 respectively
    Tempo – Health Segment Highlights (*) EBITDA excludes non-recurring expenses. Note 1: Conciliation of results found on page 16 of the 3Q09 Earnings Release.
  • 7.
    • Commercial highlight: sales through the Affinity channels;
    • Improvements in brand unification and development of the proprietary software for the Dental Segment.
    Tempo – Dental Segment Highlights (*) EBITDA excludes non-recurring expenses. Note 1: Conciliation of results found on page 16 of the 3Q09 Earnings Release.
  • 8.
    • The third quarter ended with 851 thousand lives covered, posting a 14.2% growth vs 3Q08, acquisitions and affinity channels being responsible for the growth
    • In the third quarter of 2009 the Dental Segment presented costs of R$ 11.6Mn, posting a reduction of 6.5% vs 2Q09
    Tempo – Dental Segment Loss Ratio: **Pro forma results, includes acquisition. Highlights
  • 9.
    • Management of loss ratio and gains of operational efficiency;
    • The segment highlights a new sales structure to explore the distribution of assistance services in affinity channels (retail, credit cards, services, among others);
    • 13.4% increase in items covered vs the second quarter of 2009, due to new items of contracts closed in the second quarter, namely HDI.
    Tempo – Assistance Segment Highlights (*) EBITDA excludes non-recurring expenses. Adjustments reflect new accounting practices. Refer to the reconciliation page of the Earnings Release Note 1: Conciliation of results found on page 16 of the 3Q09 Earnings Release.
  • 10.
    • Costs of Rendered Services of the Assistance Segment reached R$ 35.2MM in the third quarter of 2009, presenting a 14.4% reduction compared to the same period of last year;
    • Heavy rains that took place in the 3Q09 and the change in clients portfolio were responsible for the loss ratio increase in the period.
    Tempo – Assistance Segment Highlights Loss Ratio Curve*: * Loss Ratio Calculation includes adjusted cost (refer to table on press release)
  • 11. Acquisition of Unibanco Saúde Acquisition Overview
    • Health Plans for corporations (SME)
    • Approximately 70 thousand lives with strong presence in São Paulo, Rio de Janeiro, BH and Salvador.
    • Distribuition through the brokerage channel
    Advantages to Tempo Comercial Operational
    • Administration of the brokerage channel/over-the-counter Itaú-UBB
    • Development of its own brand
    • Development of direct distribution channels.
    • Ability to develop insurance products /actuarial knowledge
    • Risk management
    • Administration of customer relationship , including sales processing
  • 12. Tempo – Capex Highlight In the third quarter of 2009, Tempo invested R$ 2.4Mn in capital expenditures, which accounts for 12% of EBITDA in the same period. The major expenditures were software due to the implementation of the SAP and the Dental platform.
  • 13. Tempo Participações Investor Relations +55 -11 - 3336 – 8587 [email_address]