1Q10 Earnings Release
          May, 13th, 2010.
1Q10 Earnings Release



Highlights For The Period

• Gross revenue reached R$ 766.0 million, showing a 15.8% growth when ...
1Q10 Earnings Release




                            Gross Revenues Evolution
                                    (R$ mil...
1Q10 Earnings Release




                                    Gross Revenues Breakdown

                (R$ Million)      ...
1Q10 Earnings Release




                                             Market Share Evolution (%)



                     ...
1Q10 Earnings Release




                  Gross Profit and Revenues from Services to Suppliers
                         ...
1Q10 Earnings Release




                              Operating Expenses
                           (R$ million and as %...
1Q10 Earnings Release




                               Net Financial Expenses
                               (R$ million...
1Q10 Earnings Release




                                     Net Profit
                           (R$ million and as % ...
1Q10 Earnings Release




                           Ebitda and Ebitda Margin
                           (R$ million and a...
1Q10 Earnings Release




                                                    CASH FLOW
       (R$ Million)               ...
1Q10 Earnings Release




                                    3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 ...
1Q10 Earnings Release




                            Indebtedness: Net Debt and Net Debt / Ebitda*
                      ...
1Q10 Earnings Release




                                        Capex
                           (R$ million and as % Ne...
1Q10 Earnings Release



                                                   Operating Indicators

                     Ser...
1Q10 Earnings Release


                                             Profarma vs Ibovespa 1Q10


       140




       120...
1Q10 Earnings Release


                               Analyst Coverage

              Firm                 Analyst

     ...
IR Contacts

               Max Fischer
         CFO and IR Director

                Beatriz Diez
                 IR Man...
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Profarma apresentação 1 q10 final

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Profarma apresentação 1 q10 final

  1. 1. 1Q10 Earnings Release May, 13th, 2010.
  2. 2. 1Q10 Earnings Release Highlights For The Period • Gross revenue reached R$ 766.0 million, showing a 15.8% growth when comparing with the same period of the previous year; • Net profit of the Company increased 15.1% in relation to the same period of the previous year, reaching R$ 7.8 million, representing a net margin of 1.2%; • A 7.8% reduction of the operating expenses, reaching 7.5% of the net operating revenue, representing a reduction of 0.7 percentage point in relation with the same period of the previous year; • Improvement of the service level, reaching 92.3%, an increase of 1.6 percentage point in relation to the same period of the previous year when we reached 90.7%; • Increase of the annual price occurred on March 31st, 2010 was of 4.5% in line with inflation accumulated in the past 12 months, being the second largest increase in the last four years.
  3. 3. 1Q10 Earnings Release Gross Revenues Evolution (R$ million) 807.4 766.0 661.8 1Q09 4Q09 1Q10 3
  4. 4. 1Q10 Earnings Release Gross Revenues Breakdown (R$ Million) 1Q10 1Q09 Chg. % 4Q09 Chg. % Branded 511.7 453.9 12.7% 546.3 -6.3% Generic 51.6 29.5 74.6% 50.8 1.6% OTC 148.4 129.3 14.7% 157.1 -5.5% Health and Beauty Products 26.8 23.2 15.4% 26.2 2.0% Hospitals and Vaccines 27.6 25.8 7.0% 27.1 1.9% Total 766.0 661.8 15.8% 807.4 -5.1% 4
  5. 5. 1Q10 Earnings Release Market Share Evolution (%) 11.7 11.6* 11.5 10.9* 10.9* 9.6 9.6 9.9 2005 2006 2007 2008 2009 1Q09 4Q09 1Q10 *Excluding the similar’s effect Source: IMS 5
  6. 6. 1Q10 Earnings Release Gross Profit and Revenues from Services to Suppliers (R$ million and as % Net Revenues) 11.2% 11.0% 10.4% 18.6 5.3 20.0 57.8 57.1 46.5 1Q09 4Q09 1Q10 Gross Profit Revenues from Services to Suppliers Gross Profit Margin (%) 6
  7. 7. 1Q10 Earnings Release Operating Expenses (R$ million and as % Net Revenues ) 8.2% 7.4% 7.5% 50.6 48.1 45.9 1Q09 4Q09 1Q10 7
  8. 8. 1Q10 Earnings Release Net Financial Expenses (R$ million and as % Net Revenues) 1.4% 0.8% 0.8% 7.8 5.3 5.4 1Q09 4Q09 1Q10 8
  9. 9. 1Q10 Earnings Release Net Profit (R$ million and as % Net Revenues) 2.2% 1.2% 1.2% 15.4 7.8 6.7 1Q09 4Q09 1Q10 9
  10. 10. 1Q10 Earnings Release Ebitda and Ebitda Margin (R$ million and as % Net Revenues) 4.1% 3.0% 2,8% 28.0 17.9 17.1 1Q09 4Q09 1Q10 10
  11. 11. 1Q10 Earnings Release CASH FLOW (R$ Million) 1Q10 1Q09 Chg. % 4Q09 Chg. % Cash Flow Generated / (Used) in Operating Activities (43.9) 36.6 - (19.2) -128.6% Internal Cash Generation 14.5 11.4 27.0% 17.9 -19.1% Operating Assets Variation (58.4) 25.2 - (37.1) -57.3% Trade Accounts Receivable (1.8) 51.5 - (25.1) 92.9% Inventories (24.2) 8.3 - (81.8) 70.5% Suppliers (36.4) (25.3) -44.2% 91.3 - Other Items 4.0 (9.4) - (21.6) - Cash Flow (Used) in Investing Activities (1.5) (3.3) 55.7% (3.6) 59.0% Cash Flow Generated / (Used) by Financing Activities 69.8 (6.2) - (9.9) - Net Increase / (Decrease) in Cash 24.5 27.1 -9.6% (32.6) - 11
  12. 12. 1Q10 Earnings Release 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 Cash Cycle – Days * 49.3 53.4 62.5 69.6 67.8 64.3 68.8 67.2 61.8 65.8 67.9 58.7 51.6 52.7 64.9 Accounts Receivable (1) 45.2 50.0 54.6 53.1 50.9 51.7 50.7 49.2 47.0 45.9 42.4 40.5 38.4 41.1 43.4 Inventories (2) 33.1 44.7 43.4 47.2 41.3 48.6 47.9 45.7 42.5 49.9 54.0 46.5 38.5 49.6 56.2 Accounts Payable (3) 29.0 41.3 35.6 30.7 24.5 36.0 29.8 27.7 27.7 29.9 28.5 28.4 25.3 38.0 34.7 * 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. 1Q10 Earnings Release Indebtedness: Net Debt and Net Debt / Ebitda* (R$ million) 1.6x 1.5x 1.1x 167.3 128.0 118.1 1Q09 4Q09 1Q10 * Ebitda = Accumulated last 12 months 13
  14. 14. 1Q10 Earnings Release Capex (R$ million and as % Net Revenues) 0.6% 0.5% 0.2% 3.7 3.3 1.5 1Q09 4Q09 1Q10 14
  15. 15. 1Q10 Earnings Release Operating Indicators Service Level Logistics E.P.M. (units served / units requested) (Errors per Million) 210.0 93.0% 92.3% 130.0 95.0 90.7% 1Q09 4Q09 1Q10 1Q09 4Q09 1Q10 15
  16. 16. 1Q10 Earnings Release Profarma vs Ibovespa 1Q10 140 120 112 103 100 80 60 12/30/09 01/09/10 01/19/10 01/29/10 02/08/10 02/18/10 02/28/10 03/10/10 03/20/10 03/30/10 Ibovespa Profarma 16
  17. 17. 1Q10 Earnings Release Analyst Coverage Firm Analyst Javier Martinez de Olcoz Cerdan Morgan Stanley Phone: (1 212) 761-4542 E-mail: javier.martinez.olcoz@morganstanley.com Alexandre Pizano Merrill Lynch Phone: (55 11) 2188-4024 E-mail: alexandre_pizano@ml.com Marcel Moraes Credit Suisse Phone: (55 11) 3841-6302 E-mail: marcel.moraes@credit-suisse.com Juliana Rozenbaum - Marcio Osako Itaú BBA Phone: (55 11) 3073-3035 / (55 11) 3073-3040 E-mail: juliana.rozenbaum@itausecurities.com E-mail: marcio.osako@itau.com.br Iago Whately Banco Fator Phone: (55 11) 3049-9480 E-mail: iwhately@bancofator.com.br 17
  18. 18. IR Contacts Max Fischer CFO and IR Director Beatriz Diez IR Manager Telephone,: 55 (21) 4009 0276 E-mail: ri@profarma.com.br www.profarma.com.br/ir

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