1
1Q12 Earnings Release           May, 4th, 2012                            2
Highlights in the Period• Gross revenues totaled R$ 954.5 million, a year-over-year rise of 22.6%;• The Company’s net inco...
Gross Revenues Evolution               (R$ million)                                   954,5                  928,5778,81Q1...
Gross Revenues Breakdown(R$ Million)                      1Q12    1Q11    Chg. %   4Q11    Chg. %Branded                  ...
Gross Profit and Revenues from Services to Suppliers                  (R$ million and % Net Revenues)                     ...
Operating Expenses - SGA        (R$ million and % Net Revenues) 7.7%                                     7.5%             ...
Ebitda and Ebitda Margin        (R$ million and % Net Revenues)                     3.2%                                  ...
Net Financial Expenses       (R$ million and % Net Revenues)1.1%                 1.1%                                     ...
Net Profit       (R$ million and % Net Revenues)                                         1.2%                   1.1%0.3%  ...
Summary of Cash Flow(R$ Milhões)                                                 1T12     1T11      Chg. %     4T11       ...
1Q11    4Q11   1Q12     Cash Cycle - Days *                 64.5   48.0   54.6 Accounts Receivable (1)                 43....
Indebtedness: Net Debt and Net Debt / Ebitda                (R$ milllion)  2.7x                    1.6x               2.3x...
Capex       (R$ million and % Net Revenues)                    0,5%0,2%                                     0,2%          ...
Service Level                          Logistics E.P.M.        (Units served / Units Requested)               (Errors per ...
Profarma vs Ibovespa - % 1Q12130125120115                                                             1141101051009590    ...
Analyst CoverageCompany          Analyst                                Telephone           E-mailMorgan Stanley   Javier ...
Contatos RI                                  IR Contacts                     Max Fischer | Diretor Financeiro e de RI     ...
Upcoming SlideShare
Loading in …5
×

Profarma 1Q12

507 views

Published on

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
507
On SlideShare
0
From Embeds
0
Number of Embeds
54
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Profarma 1Q12

  1. 1. 1
  2. 2. 1Q12 Earnings Release May, 4th, 2012 2
  3. 3. Highlights in the Period• Gross revenues totaled R$ 954.5 million, a year-over-year rise of 22.6%;• The Company’s net income rose by 336.3% in relation to 1Q11 and stood at R$ 9.5 million, with a 1.2% net margin;• In the second quarter after the acquisition, Prodiet recorded gross operating revenues of R$ 83.1 million and Ebitda margin of3.3%, which helped Profarma improve its profitability and fuel its long-term sustainable growth;• Ebitda climbed by 84.8% year-over-year, totaling R$ 20.2 million with 2.5% Ebitda margin;• The Companys cash cycle dropped by 9.9 days to 54.6 days. This decrease resulted in a fall of about R$ 69.8 million in workingcapital;• Concerning the Company’s organic growth, it is worth noting the generics category, whose sales rose for the third straightquarter. Year-over-year, there was an increase of 72.1%;• It is also worth noting the health and beauty category, whose sales grew by 45.2% year-over-year;• Sales through electronic orders reached an all-time high and accounted for 73.7% of total sales in the year. 3
  4. 4. Gross Revenues Evolution (R$ million) 954,5 928,5778,81Q11 4Q11 1Q12 4
  5. 5. Gross Revenues Breakdown(R$ Million) 1Q12 1Q11 Chg. % 4Q11 Chg. %Branded 552.7 507.1 9.0% 536.6 3.0%Generic 93.7 54.5 72.1% 82.1 14.2%OTC 126.3 148.7 -15.1% 129.1 -2.2%Health and Beauty Products 69.1 47.6 45.2% 66.4 4.2%Hospitals and Vaccines 112.7 21.0 437.7% 114.3 -1.4%Total 954.5 778.8 22.6% 928.5 2.8% 5
  6. 6. Gross Profit and Revenues from Services to Suppliers (R$ million and % Net Revenues) 10.6% 10.2% 9.6% 37.8 45.0 24.0 45.0 39.1 38.6 1Q11 4Q11 1Q12Gross Profit Revenues from Services to Suppliers Gross Profit Margin(%) 6
  7. 7. Operating Expenses - SGA (R$ million and % Net Revenues) 7.7% 7.5% 7.0% 61.1 55.750.71Q11 4Q11 1Q12 7
  8. 8. Ebitda and Ebitda Margin (R$ million and % Net Revenues) 3.2% 2.5% 1.7% 25.1 25.1 20.2 20.210.91Q11 4Q11 1Q12 8
  9. 9. Net Financial Expenses (R$ million and % Net Revenues)1.1% 1.1% 0.9% 8.47.2 7.21Q11 4Q11 1Q12 9
  10. 10. Net Profit (R$ million and % Net Revenues) 1.2% 1.1%0.3% 9.5 8.7 2.21Q11 4Q11 1Q12 10
  11. 11. Summary of Cash Flow(R$ Milhões) 1T12 1T11 Chg. % 4T11 Chg. %Cash Flow Generated / (Used) in Operating Activities (72.2) (80.2) 10.0% 15.1 - Internal Cash Generation 20.0 10.4 92.6% 17.7 13.5% Operating Assets Variation (92.3) (90.6) (1.8)% (2.6) (3447.1)% Trade Accounts Receivable (64.5) 22.9 - (106.1) 39.2% Inventories (13.0) (30.8) 57.8% (71.2) 81.8% Suppliers (11.1) (74.7) 85.1% 194.7 - Other Items (3.7) (8.1) 54.3% (20.0) 81.6%Cash Flow (Used) in Investing Activities (1.7) (1.3) (32.4)% (10.4) 88.4%Cash Flow Generated / (Used) by Financing Activities 61.6 81.1 (24.0)% (2.5) -Net Increase / (Decrease) in Cash (12.3) (0.4) (3256.2)% 2.2 - 11
  12. 12. 1Q11 4Q11 1Q12 Cash Cycle - Days * 64.5 48.0 54.6 Accounts Receivable (1) 43.9 46.0 50.7 Inventories (2) 59.3 48.9 49.7 Accounts Payable (3) 38.7 46.8 45.8 * 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: Net Debt and Net Debt / Ebitda (R$ milllion) 2.7x 1.6x 2.3x 197.2194.8 118.91Q11 4Q11 1Q12 13
  14. 14. Capex (R$ million and % Net Revenues) 0,5%0,2% 0,2% 3.7 1.71.31Q11 4Q11 1Q12 14
  15. 15. Service Level Logistics E.P.M. (Units served / Units Requested) (Errors per Million)89.5% 89.3% 144.0 114.0 114.0 85.9%1Q11 4Q11 1Q12 1Q11 4Q11 1Q12 15
  16. 16. Profarma vs Ibovespa - % 1Q12130125120115 1141101051009590 9085 Dec-11 Jan-12 Feb-12 Mar-12 Ibovespa Profarma 16
  17. 17. Analyst CoverageCompany Analyst Telephone E-mailMorgan Stanley Javier Martinez de Olcoz Cerdan (1 212) 761-4542 javier.martinez.olcoz@morganstanley.comMerrill Lynch Mauricio Fernandes (55 11) 2188-4236 mauricio.fernandes@baml.comCredit Suisse Marcel Moraes (55 11) 3841-6302 marcel.moraes@credit-suisse.comItaú BBA Marcio Osako (55 11) 3073-3040 marcio.osako@itausecurities.comBanco Fator Iago Whately (55 11) 3049-9480 iwhately@bancofator.com.brRaymond James Guilherme Assis (55 11) 3513-8706 guilherme.assis@raymondjames.comBTG Pactual João Carlos dos Santos (55 11) 3383-2384 joaocarlos.santos@btgpactual.com Andre Parize (55 11) 5171-5870 andre.parize@votorantimcorretora.com.brVotorantim Marco Richieri (55 11) 5171-5873 marco.richieri@votorantimcorretora.com.br 17
  18. 18. Contatos RI IR Contacts Max Fischer | Diretor Financeiro e de RI Max Fischer | CFO and IRO Beatriz Diez | | IR Manager Beatriz Diez Gerente de RI 18Telefone.: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ri Phone.: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ri

×