Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Earnings Release 4Q08 - Presentation


Published on

Published in: Business, Technology
  • Be the first to comment

  • Be the first to like this

Earnings Release 4Q08 - Presentation

  1. 1. Earnings Release 4Q08 1
  2. 2. Disclosure Due to the Company´s IPO in 2007, the 4Q07 presented better than usual results. This incremental EBITDA pertain to other 2007 quarters as per accrual accounting rules. Hence, 4Q07x4Q08 comparison is negatively impacted. For a better view of the business a YoY comparison should be considered. 2
  3. 3. Highlights CEO Change: As of 04/01/2009, Carlos Formigari will be the new CEO for Tempo Participações. José Bonchristiano leaves his current position to become Co-President of the Board of Directors along with Dimas Maia, who is the current president of the Board. Mr. Formigari comes from a 9-year career at Unibanco as General Director of Unicard, Unibanco´s credit card company. Stock Buyback Program: Tempo concluded its first stock buyback program in the 4Q08. The total amount of shares purchased were 8.168.500, which totals a R$ 22.2Million investment. Following the conclusion of the first buyback program, Tempo initiated its second buyback program on November 27, 2008, allowing it to buy up to 10% of the current Free Float during the preceding 365 days. As of March 31, 2009, Tempo purchased 2.2 Million shares. SAP: In December of 2008, Tempo decided to implement SAP software. The implementation is currently taking place and should be concluded by 3Q09. 3
  4. 4. Tempo Consolidated Net Revenues (R$MM) EBITDA (R$MM) 4
  5. 5. Health Segment Beneficiaries (in Millions) Growth of 6,2% growth in number of lives covered. New clients have fueled this growth as well as a modest growth in existing client base. 5
  6. 6. Health Segment Net Revenues (in R$Million) Net Revenues presented a strong growth of 33,7% YoY and a 19,3% growth QoQ. 6
  7. 7. Health Segment Costs of Services Rendered (in R$Million) Tempo´s HomeCare unit was only acquired and running jointly with the business segment starting October 2007. 12,8% Selling, General & Administrative Expenses (in R$Million) Due to a different business model, the HomeCare division contributed with a higher SG&A ratio than Gama Saúde. 7
  8. 8. Health Segment Adjusted EBITDA (in R$Million) The adjusted EBITDA for the fiscal year of 2008 had a strong growth of 19,1% YoY. However, on a QoQ analysis the Health segment showed a significant decline, mostly due to 4Q07 results that accumulate results from other 2007 quarters (as per accrual accounting rules). 8
  9. 9. Dental Segment Beneficiaries (in Millions) Strong growth of 75,4% YoY, surpassing 833 thousand lives. In the midst of acquisitions and integration, the Dental Segment had a solid organic growth of 32% in 2008. 9
  10. 10. Dental Segment Net Revenues (in R$Million) Growth was influenced by strong M&A activity and solid organic growth in its beneficiaries base. 10
  11. 11. Dental Segment Costs of Rendered Services (in R$Million) 51,2% A strong contributor to this impact has been the Affinity channels. Selling, General and Administrative Expenses (in R$Million) M&A and organic growth in Dental during 2008 were fueled by SME and Affinity accounts, which carry significantly lower broker´s commissions. 11
  12. 12. Dental Segment Adjusted EBITDA (in R$Million) EBITDA for the Dental Segment showed strong growth. On a QoQ comparison, EBITDA grew by 85,7%. When comparing YoY, the company achieved an Adjusted EBITDA of R$15,6 Million, a 174,4% growth 12
  13. 13. Assistance Segment Items (in Millions) Tempo had a relevant contract renewal with Tokio Marine for additional seven years. Moreover, two new clients joined our base: Marítima and Confiança 13
  14. 14. Assistance Segment Net Revenues (in R$Million) Part of the growth is attributed to new clients such as Marítima and Confiança. 14
  15. 15. Assistance Segment Costs of Rendered Services (in R$Million) Selling, General and Administrative Expenses (in R$Million) In 4Q08, USS continued to show significant decrease in SG&A of 20% and the YoY also showed a strong reduction of 22.6% reduction, proving that USS is benefiting from economies of scale and synergies in shared structure. 15
  16. 16. Assistance Segment Adjusted EBITDA (in R$Million) Adjusted EBITDA for the Assistance Segment for the 4Q08 was R$5.0 Million. For the year, however, Adjusted EBITDA grew by 5.8% YoY reaching a total of R$28.4 Million. 16
  17. 17. CAPEX CAPEX 17
  18. 18. Tempo Participações Investors Relations +55 -11 - 4208 – 8025 18