2. OPERATING AND FINANCIAL HIGHLIGHTS 2Q12
Opening of 30 stores and 8 stores closed during the quarter
Gross revenue of R$746.9 million, a 21.9% growth over 2Q11
Total SSS of 13.8% and mature SSS of 9.1%
Gross margin of 30.1%, in line with 1Q12
Adjusted EBITDA of R$46.3 million and adjusted EBITDA margin of 6.2%
Adjusted net profit of R$24.3 million and adjusted net margin of 3.3%
Follow-on Offering with total raise of R$476.2 million in net proceeds
2
3. OUR OWN STORE PLATFORMS AND FRANCHISES
1
232 Owned stores¹
103 20 1 10
15 75 114 Owned stores²
7
114
10
89 118 Owned stores
REGIONS 19
Owned stores Footprint
North 104 201 Owned stores
Northest 242
Midwest 118
8 352 franchises
Southeast
193
South 201 1.017 stores
665 owned stores
352 Franchises
05 Distribution centers
1) Includes 69 stores of the Guararapes platform.
2) Includes 11 stores acquired from Estrela Galdino on April 2012 and added to the Sant’Ana stores chain in June 30, 2012. Therefore they generated no
revenues in 2Q12.
3
4. STORE OPENING AND MATURATION PROFILE
Growth of owned stores base Owned stores by stage of maturity
643 30 665
4 8
1
232
2
114
201
118
sing 1Q12 Organic growth Closing 2Q12
Opening of 30 stores and 8 stores closed
1- Includes 69 stores of the Guararapes platform.
2- Includes 11 stores acquired from Estrela Galdino on April 2012, added to Sant’Ana’s store count. The stores were acquired but not yet incorporated and
therefore generated no revenues in 2Q12.
4
5. ANALYSIS OF RESULTS
Gross revenue
(R$ million)
+24.1%
1,446
+21.9%
1,166
747
613
2Q11 2Q12 1H11 1H12
Total and mature stores SSS
(%)
14.9%
13.8%
12.4%
11.3%
10.4%
8.9% 9.1%
7.4%
2Q11 2Q12 1H11 1H12
SSS total SSS mature stores (36 months or above)
5
6. Sales Mix and Average Ticket
Sales Mix
(%)
47.5% 46.1% 46.4%
21.0% 16.4% 17.1%
31.6% 37.5% 36.5%
2011 1Q12 2Q12
Non medicines Generic medicine Branded medicine
Average Ticket
(R$)
+5.0%
31.4 +3.4%
29.9 30.1
29.1
2Q11 2Q12 1H11 1H12
6
9. CASH FLOW, CASH CYCLE AND DEBT
Cash Flow Debt
(R$mm) (R$mm)
Cash flow Statement (R$'000) 1Q12 2Q12 Cash position and indebtedness (R$'000) 1Q12 2Q12
EBT 10,2
- 7,8
- Cash and cash equivalents 122,9 480,9
(+) Depreciation and amortization 16,1 12,3 Total debt 691,7 763,0
(+) Others 13,1
- 12,9
- Short term (%) 39,9% 19,6%
Operating cash generation 39,5
- 33,0
- Long term (%) 60,1% 80,4%
(-) Change in working capital (57,5) (93,6) Loans and financing 344,5 414,8
(-) Change in other assets and liabilities (13,9)
- (41,6)
- Short term 241,3 54,8
Net cash generated by operating activities (32,0) (102,2)
- - Long term 103,2 360,0
(-) Capex from operations (19,5) (28,2) Accounts payable for acquisitions 347,2 348,2
(-) Acquisitions (286,3) (41,6) Short term 34,8 95,0
Net Cash from investing activities (305,9)
- (69,7)
- Long term 312,4 253,3
(+/-) Loans and financing 196,3 62,5 Net debt 568,8 282,2
(+) Equity funding 0,9 397,9 Net debt/Adjusted EBITDA (LTM) 3,4 X 1,7 X
Net Cash from financing activities 197,2
- 460,3
-
Cash Cycle
Days of Working capital 1Q12 2Q12
Accounts receivable 22 25
Inventories 86 92
Suppliers 63 54
Cash cycle 45 63
9
10. BRAZIL PHARMA: OUR HISTORY
From regional leaders into a great national Company
186 years of
History IPO
1945 1965 1975 1994 1994 1995 2009 2011 2012 2013E 2014E 2015E 2016E
10
11. BRAZIL PHARMA: YOUR FIRST OPTION
From regional leaders into a great national Company
Distinct Companies
Holding
Corporate
One single Company
Administrative
Commercial Operations
(SSC)
#1 for our suppliers #1 for our clients #1 for our talent
11
12. COMMERCIAL INTEGRATION
Longterm partnerships and new structure
Procurement Director
Diretor Comercial
Carlos Dutra
Logistics Procurement Trade Marketing
Medicine HPC
Commercial / Sell Out
Sell Out Team/
Corporate Trade Execution
Procurement /
• Orders; Trade Marketing
• Trade;
• Negotiation; Corporate • Stores visit;
• Support to our Sell Out Sell In Sell Out • Local demand;
suppliers; • Campaigns.
• Controls.
Sell Out
12
13. CAPITAL MARKETS
Capital Markets
Markets closed on August 14th 2012
BPHA3 – R$/share: R$12.41
Total shares outstanding: 238.0 million
Market cap: R$2.95 billion
160 151
150 BPHA3
140 IBOV
130
120
110
100 94
90
80
70
60
Source: Bloomberg, as of August 14th, 2012.
13
14. IMPORTANT NOTE
This document may contain forward-looking statements in relation to the Company and its subsidiaries which reflect the current outlook and/or
expectations of the Company and its management for its performance and its business and in relation to future events. These forward-looking
statements are subject to risk and uncertainty in respect of factors which cannot be controlled or precisely estimated by the Company, such as market
conditions, competitive environment, currency fluctuations and changes in the inflation rate, alterations in regulatory and governmental bodies and
other factors affecting the Company's operations. As a result, the Company's future results may show material differences from these projections.
The reader is warned not to take any investment decision exclusively on the basis of these forward-looking statements. The forward-looking statements
do not represent and should not be interpreted as a guarantee of future performance. The Company does not undertake to publish any revision of
these forward-looking statements, or to update them in the face of events or circumstances which may arise after the date of this document.
This document contains operational information and other proforma management information which is internal to the Company and not derived
directly from the financial statements. This information has not been specially reviewed by the Company’s independent auditors and may involve
assumptions and estimates adopted by the management. This information should not be considered as sufficient in isolation for any investment
decision and should be read in conjunction with the Company’s financial information that has been subject to limited review or audit and which is filed
with the Securities Commission (CVM).
No responsibility will be accepted by the Company and its subsidiaries, or by their board members, officers, agents, employees, advisers or
representatives, for any loss or prejudice arising from the use of the information presented or contained in this document, or for any damage resulting,
corresponding or specific thereto. Data included in this document was obtained by means of internal research, market surveys, information in the
public domain and business publications; the Company has not confirmed the reliability of this data with the respective sources.
INVESTOR RELATIONS CONTACT - IR
Renato Lobo
IR Director
Otavio Lyra
IR Manager
Marina Sousa
IR Team
Telephone: +55 (11) 2117- 5212
E-mail: ri@brph.com.br
IR Website: www.brph.com.br
14
