2. Highlights | Corporate
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The only Brazil’s mixed market player that features exposure and expansion capacity in the segments of Retail, Hospital & Specialties and Distribution;
Strategic partnership with AmerisourceBergen, the world’s largest player in the pharmaceutical specialties, resulting in the creation of the company Profarma Specialty;
The Company carried out four acquisitions over the last three years, including its entry into the Retail pharmaceutical segment, and the attainment of a market position as one of the major players within this segment in the state of Rio de Janeiro;
Proven capacity to integrate acquisitions, combining all group companies in the SAP plataform.
3. Highlights | 3Q14
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CONSOLIDATED
• Consolidated gross revenues up 7.2% from 3Q13;
• 0.9 fall in operating expenses in relation to 3Q13;
• Retail Division EBITDA up R$ 6.7 million, with 4.2% EBITDA margin.
Retail
• 7.5% rise in Drogasmil / Farmalife’s sales and 12.9% rise in Tamoio’s sales when compared with 3Q13;
• Rise of 83.3% in Drogasmil / Farmalife’s EBITDA and of 51.1% rise in Tamoio’s 3Q13;
• Average monthly sales per store up 25.5% at Drogasmil /Farmalife against 3Q13;
• 4 new stores opened in 3Q14, totaling 10 new stores in 2014.
SPECIALTIES
• Specialty retail sales up 16.8% vs. 3Q13;
• Oncologicals sales up 38.0% in relation to 3Q13.
PHARMACEUTICAL DISTRIBUTION
• Sales up 7.8% against 3Q13;
• 0.4 p.p. fall in operating expenses, from 8.3% to 7.9% compared with 3Q13;
• Branded category sales up 11.5% vs. 3Q13;
• 1.0-day shorter cash in comparison to 3Q13.
6. Consolidated Performance
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Gross Revenues Evolution (R$ million)
3Q13
3Q14
1,009.1
987.4
7.7%
7.2%
Pharmaceutical Distribution
Specialties
Retail
Sales growth of 10.0% compared to 2Q14.
Sales growth of 9.7% from 2Q14, with 11.9% in the retail and 9.1% in the wholesale markets.
Sales growth of 8.9% at Drogasmil / Farmalife and 6.4% at Tamoio compared to 2Q14.
71.5
170.6
1,080.6
1,158.0
Accounting Consolidated Gross Revenues
Pro-forma Consolidated Gross Revenues: 100% of revenues from Tamoio, Drogasmil / Farmalife and Profarma Specialty
2Q14
1,009.2
66.1
1,075.3
15. Pharmaceutical Distribution
Financial Data
(R$ million and % Net Revenues)
EBITDA Margin (%)
2.2
3Q13
3Q14
3.1
Op. Exp. SG&A
(%)
7.9
3Q13
3Q14
8.3
Gross Margin
(%)
10.2
3Q13
3Q14
11.7
Gross Revenues
(R$ million)
911.3
3Q13
3Q14
845.2
Operating expenses down 0.4 p.p., from 8.3% in 3Q13 and 2Q14 to 7.9% in 3Q14.
Branded category up 11.5% and 12.8% vs. 3Q13 and 2Q14 respectively;
Sales up 7.8% and 10.0% vs 3Q13 and 2Q14 respectively;
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19. Financial Data
(R$ million and % Net Revenues)
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Ebitda Margin
(%)
7.6
2Q13
2Q14
5.7
Op. Exp. SGA
(%)
23.4
2Q13
2Q14
24.1
Gross Margin
(%)
31.1
3Q13
3Q14
30.0
Gross Revenues
(R$ million)
105.0
3QT13
3Q14
92.9
Retail | Tamoio
Gross revenue up 12.9% and 6.4% from 3Q13 and 2Q14 respectively;
Average monthly sales per store, totaling R$ 582.0 thousand, up 10.8% and 6.2% vs. 3Q13 and 2Q14 respectively;
Highest EBITDA margin in the last 12 months, 7.6%, up 1.9 p.p. and 2.1 p.p. from 3Q13 and 2Q14 respectively.
21. 3Q13
25.5
3Q14
28.0
2Q14
27.3
9.7%
2.5%
Retail | Tamoio
# of Stores
(units)
3Q13
59
2Q14
60
3Q14
60
Average Ticket
(in reais)
21
0 Opening
0 Close-downs
0 Reformulating
48 Mature
2Q14 vs. 3Q14
1.7%
0.0%
22. Financial Data
(R$ million and % Net Revenues)
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Ebitda Margin (%)
-0.8
3Q13
3Q14
-4.8
Op. Exp. SGA (%)
30.9
3Q13
3Q14
40.9
Gross Margin
(%)
32.3
3Q13
3Q14
33.6
Gross Revenues
(R$ million)
67.8
3Q13
3Q14
63.1
Retail | Drogasmil/Farmalife
Gross revenue up 7.5% and 8.9% from 3Q13 and 2Q14 respectively;
Average monthly sales per store up 25.5% vs. 3Q13;
Operating expenses down 18.9% in absolute amounts vs. 3Q13.
EBITDA up 83.3% and 74.0% from 3Q13 and 2Q14 respectively;
