Earnings Release 4 Q07

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Earnings Release 4 Q07

  1. 1. 4Q07 and 2007 Earnings Release 1
  2. 2. Highlights For The Period • Profarma’s market share breaks the record and reaches 12.8% or 0.8 percentage points above the share reached in the 3Q07 and 3.2 percentage points above the 9.6% reached in 2006. • Growth of 40.1% of the consolidated Gross Revenue when compared to the same period in 2006, reaching R$ 740,4 million. • The adjusted EBITDA was R$ 26,2 million presenting a 35.3% growth when compared to the R$ 19,4 million registered in the 4Q06. • Cash Flow reduced in approximately 4 days, in the second consecutive quarterly. • New regions, Pernambuco, Ceará and Rio Grande do Sul, continue to show a strong growth when compared to the 3Q07, reaching a Gross Revenue of R$ 75.0 million, corresponding to 34.6% growth. • Reduction of 34.5% on the errors per million of the units shipped, dropping from 145.0 recorded in the 3Q07 to 95.0 in the 4Q07. 2
  3. 3. Gross Revenues Evolution In R$ MM 2.603,6 1.967,7 698.2 740.4 528.6 4Q06 3Q07 4Q07 2006 2007 3
  4. 4. Gross Revenues Breakdown In R$ MM (R$ Million) 4Q07 4Q06 Chg. % 3Q07 Chg. % 2007 2006 Chg. % Branded 517.9 347.8 48.9% 475.2 9.0% 1,771.8 1,332.4 33.0% Generics 46.8 36.5 28.2% 50.4 -7.3% 165.8 112.6 47.2% OTC 128.5 96.1 33.7% 125.5 2.4% 473.2 349.5 35.4% Health and Beauty Products 31.2 36.4 -14.2% 32.6 -4.2% 137.9 132.1 4.5% Other 15.9 11.6 37.5% 14.3 11.4% 54.1 39.8 36.1% Services Rendered 0.1 0.3 -57.2% 0.1 45.0% 0.8 1.3 -40.0% Total 740.4 528.6 40.1% 698.2 6.1% 2,603.6 1,967.7 32.3% 4
  5. 5. Market Share (%) 12.8 12.0 10.7 10.7 9.6 4Q06 1Q07 2Q07 3Q07 4Q07 Source: IMS 5
  6. 6. Gross Profit and Revenues from Services to Suppliers In R$ MM and as % Net Revenues 10.8% 10.4% 10.2% 32.8 9.7% 9.6% 203.3 8.0 159.3 9.2 11.2 3.2 59.8 50.7 41.1 4Q06 3Q07 4Q07 2006 2007 Gross Profit Revenues from services to Suppliers Adjusted GP Margin (%) 6
  7. 7. Operating Expenses In R$ MM and as 8.4% % Net Revenues 8.0% 7.9% 7.8% 7.1% 180.9 123.6 53.7 48.0 35.8 4Q06 3Q07 4Q07 2006 2007 EXPENSES: General and Administrative + Selling and Marketing + Logistics and Distribution 7
  8. 8. Net Financial Expenses In R$ MM and as % Net Revenues 1.7% 1.4% 1.0% 0.9% 0.9% 29.6 20.3 9.2 4.6 5.2 4Q06 3Q07 4Q07 2006 2007 8
  9. 9. Net Income 2.8% In R$ MM and as % Net Revenues 2.0% 1.5% 1.3% 1.3% 34.2 21.6 12.7 12.7 8.2 4Q06 3Q07 4Q07 2006 2007 9
  10. 10. Adjusted EBITDA and EBITDA Margin In R$ MM and as 4.1% % Net Revenues 4.2% 3.9% 3.6% 3.6% 82.5 68.1 26.2 19.4 21.6 4Q06 3Q07 4Q07 2006 2007 10
  11. 11. Cash Flow (R$ Million) 4Q07 4Q06 Chg. % 3Q07 Chg. % 2007 2006 Chg. % Cash Flow Used in Operating Activities (6.2) (14.8) 58.2% (31.6) 80.4% (162.9) (98.5) -65.4% Internal Cash Generation 14.3 18.5 -22.9% 14.7 -2.8% 56.5 37.7 49.7% Operating Assets Variation (20.4) (33.3) 38.6% (46.2) 55.7% (219.4) (136.2) -61.1% Trade Note Receivable (30.5) (27.8) -9.5% (35.5) 14.1% (131.9) (78.1) -68.8% Inventories (59.1) (53.5) -10.4% (1.9) -3010.0% (105.7) (58.8) -79.9% Suppliers 81.6 56.7 43.8% (13.4) n.a. 40.1 7.2 454.9% Other Items (12.5) (8.7) -44.0% 4.6 n.a. (21.9) (6.6) -234.1% Cash Flow Used in Investing Activities (2.7) (2.2) -23.5% (11.6) 76.5% (16.5) (4.4) -277.7% Cash Flow Generated by Financing Activities 52.8 201.6 -73.8% (6.1) n.a. 47.1 292.4 -83.9% Net Increase (Decrease) in Cash 43.9 184.6 -76.2% (49.3) n.a. (132.3) 189.5 n.a. 11
  12. 12. Cash Cycle 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 Cash Cycle - Days* 49,3 53,4 62,5 69,6 67,8 64,3 Accounts Receivable (1) 45,2 50,0 54,6 53,1 50,9 51,7 Inventories (2) 33,1 44,7 43,4 47,2 41,3 48,6 Accounts Payable (3) 29,0 41,3 35,6 30,7 24,5 36,0 *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. 13. Indebtedness In R$ MM Net Debt (R$ MM) and Net Debt / Ebitda 1.5 1.5 -0.9 114.0 124.0 -64.7 4Q06 3Q07 4Q07 * Ebitda = Accumulated last 12 months 13
  14. 14. Capex 1.9% In R$ MM and as % Net Revenues 0.7% 0.5% 0.4% 0.3% 16.7 11.7 4.7 2.3 2.8 4Q06 3Q07 4Q07 2006 2007 14
  15. 15. Operating Indicators Service Level Logistics E.P.M (units served / units requested) (Errors per Million) 93.7% 202.2 91.7% 91.2% 90.9% 145.0 145.0 128.3 95.0 87.7% 4Q06 3Q07 4Q07 2006 2007 4Q06 3Q07 4Q07 2006 2007 15
  16. 16. Share Performance 181 * 100 pts basis on 25/oct/2006 176 171 166 161 161 159 156 151 149 146 141 136 131 126 121 116 111 106 101 96 oct nov nov dec dec jan jan feb mar mar apr apr may may jun jun jul jul aug aug sep sep oct oct nov nov dec dec 25 10 26 12 28 13 29 14 2 18 3 19 5 21 6 22 8 24 9 25 10 26 12 28 13 29 15 31 Ibovespa IGC Profarma 16
  17. 17. RI Contact: Max Fischer CFO and IRO Beatriz Diez IR Coordenator tel.: 55 (21) 4009 0276 E-mail: ri@profarma.com.br www.profarma.com.br/ir 17

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