Earnings Release 1Q13


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Earnings Release 1Q13

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Earnings Release 1Q13

  1. 1. 1Q13Earnings ReleaseMay 10, 2013
  2. 2. 2DisclaimerThis notice may contain estimates for future events. These estimates merely reflect the expectationsof the Company’s management, and involve risks and uncertainties. The Company is not responsiblefor investment operations or decisions taken based on information contained in this communication.These estimates are subject to changes without prior notice.This material has been prepared by Multiplus S.A. (“Multiplus“ or the “Company”) includes certainforward-looking statements that are based principally on Multiplus’ current expectations and onprojections of future events and financial trends that currently affect or might affect Multiplus’business, and are not guarantees of future performance. They are based on management’sexpectations that involve a number of business risks and uncertainties, any of each could causeactual financial condition and results of operations to differ materially from those set out in Multiplus’forward-looking statements. Multiplus undertakes no obligation to publicly update or revise anyforward looking statements.This material is published solely for informational purposes and is not to be construed as a solicitationor an offer to buy or sell any securities or related financial instruments. Likewise it does not give andshould not be treated as giving investment advice. It has no regard to the specific investmentobjectives, financial situation or particular needs of any recipient. No representation or warranty, eitherexpress or implied, is provided in relation to the accuracy, completeness or reliability of theinformation contained herein. It should not be regarded by recipients as a substitute for the exercise oftheir own judgment.2
  3. 3. 3R$growth in non-air redemptionsvs 1Q12growth in Gross Billingsvs 1Q1214.3%R$ 100 million in cash generetionin 1Q13million members15% growth vs 1Q1211.31Q13 Highlights338.2%More than
  4. 4. 4We reached 383 partners(coalition, accrual and redemption)More than 11.3 million members200207230369 3830501001502002503003504004501Q12 2Q12 3Q12 4Q12 1Q13SMEsMain partnersTotal9,8 10,110,510,9 11,31Q12 2Q12 3Q12 4Q12 1Q13Number of partnersMembers, in mlnNetwork growth4NOTE: SMEs refers to small and medium sized enterprises
  5. 5. 5Recognition as a valuable brand518th place in the MostValueable Brands RankingMultiplus’ figures in the ranking for three consecutive yearsand rose three positions this yearBrandAnalytics Survey released in Apr/2013
  6. 6. 6New campaign: ask, collect, redeem!6
  7. 7. 7347,1319,5378,4430,9373,415,214,516,719,415,91Q12 2Q12 3Q12 4Q12 1Q13Net Revenue Points RedeemedR$ 373.4 mln in Net RevenueR$ 492.1 mln in Gross Billings430,4457,1491,4 492,0 492,11Q12 2Q12 3Q12 4Q12 1Q13R$ mln & bln pointsR$ mlnSolid Gross Billings growth7
  8. 8. 8Breakage rate:gradual decline as expected12 months average, in %23,4%22,5% 22,0%21,0%19,9%1Q12 2Q12 3Q12 4Q12 1Q13Non-air redemptions kept itsgood level in 1Q130,6%1,5%2,6%2,9%4,0%4,3%6,3% 6,4%5,3%1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13Non-air redemptions, in %Gradual breakage decline besides non-air redemptions increase8Seasonalpromotionsin 3/4Q12
  9. 9. 9R$ 100.8 mln in FCF* R$ 46.8 mln in Net Income156,1129,8124,579,0100,81Q12 2Q12 3Q12 4Q12 1Q1361,643,366,652,946,81Q12 2Q12 3Q12 4Q12 1Q13RS mln R$ mln*Excluding Dividends, Interest on Capital and variations ofPrepaid Expenses and Capital (4Q12 and 1Q13 areadjusted with R$ 71.3 of anticipated settlement in AccountsPayable)Delivering Results9
  10. 10. 1061,640,87,34,13,120,20,72,415,611,4 9,346,91Q12 NetIncomePoints sold BreakagerevenueHedge Taxes RedemptioncostsSG&A JV FinancialrevenueHedgeMTMIR & CSLL 1Q13 NetIncomeNet income analysis10+4,3% in points redeemed+8,1% in unit revenue+4,3% in points redeemed+4,3% in unit costChange in revenuesChange in Costs &ExpensesChange in Financial Results
  11. 11. 11DividendsPre-purchase of air ticketsMaximizing Shareholders Return11112,3861,3222,444,52010 2011 2012 1Q13*2011 includes a R$ 600 million capital reductionR$ 416,4 millionBalance in Mar/2013Multiplus’ board of directors approveda R$ 500 million fixed limit forpre-purchase of air ticketsuntil 2013
  12. 12. Thank you!Contact IR Team+55 11 5105 1847invest@multiplusfidelidade.com.brwww.multiplusfidelidade.com.br/ir