- CSU is the largest independent processor of electronic payments in Brazil and has experienced rapid growth.
- The opening of Brazil's acquirer industry in 2010 created an opportunity for CSU to offer processing services to acquirers.
- CSU's contact center was restructured and is well positioned for profitable growth, while its operational platform supports its long term strategy.
The document is a presentation by CSU about its business and the Brazilian payment processing industry. It provides the following key points:
1) CSU is the largest independent payment processor in Brazil and has experienced rapid growth in processing credit and debit card transactions.
2) The Brazilian card market has grown significantly in recent years and is expected to continue growing due to increasing card penetration and usage.
3) CSU provides a full suite of processing services to issuers and is well positioned to expand into acquirer processing following regulatory changes opening up that market.
4) CSU has multiple revenue streams, high client loyalty, and economies of scale that support its profitable business model. The presentation outlines CSU's
The Philippine economy grew at 3.7% last year, slower than other ASEAN countries but still managing growth despite global economic challenges. Strong consumer spending and growth in the services sector compensated for sluggish government infrastructure spending and declines in fishing. Inflation contracted to 2.7% while lending rates are at their lowest. Most institutions forecast 3.5-4.0% growth for the Philippines this year, supported by rising OFW remittances which exceeded $20 billion in 2011.
While Philippine GDP grew at a modest 3.7% last year, lower than neighboring ASEAN countries, strong consumer spending and the resilient services sector helped compensate. Office space options in Metro Manila are currently limited due to high demand from business process outsourcing firms. In the residential property market, over 33,000 new condominium units were completed last year with vacancy rates remaining below 6%. Major mall operators are improving shopping experiences through new technologies and attractions to increase foot traffic.
Tim Participacoes reported its 3Q08 results. Key highlights included growing the subscriber base 20.7% YoY to 35.2 million users, stabilizing ARPU at R$29.7, and increasing EBITDA 47.5% YoY to R$799.8 million through tight expense control and lower bad debt. The company launched new convergent offers like TIM Fixo wireline telephony and expanded its 3G broadband portfolio. Operational improvements and financial discipline helped deliver on commitments to improve profitability.
The Korea Fund underperformed its benchmark, the MSCI Korea Index, in the fourth quarter of 2012 by 39 basis points. Within sectors, stock picks in consumer discretionary hurt performance while selections in industrials and an underweight in financials helped. Growth stocks strongly outperformed value stocks last quarter, contrasting the third quarter. The Fund initiated positions in selected IT and consumer names and exited a credit card company due to regulatory changes.
TBC Bank had strong financial performance in H1 2011. Total assets grew to $1.66 billion as of June 2011, with net loans at $1.03 billion and customer deposits at $972 million. ROE for H1 2011 was a healthy 24.3% and the bank had strong capital ratios with a Tier 1 capital adequacy ratio of 19.5%. TBC Bank is the largest bank in Georgia by retail deposits with a 33.1% market share as of June 2011 and has a long history of growth and expansion since 1993.
- The WIOF Global Listed Utilities Fund increased 1.8% in the past month and 6.6% over the past year, underperforming its benchmark index which rose 1.3% and 1.2% respectively.
- The underperformance was due to not holding shares in three North American gas companies that were takeover targets and rose significantly.
- Top performing holdings were US electricity utilities, while worst were a global satellite operator and Hong Kong electricity utility.
- The portfolio was adjusted by adding four North American utilities and exiting four European utilities.
- Regulated utilities are expected to perform well in 2012 as growth remains challenging in Europe and the US outperforms.
Tim Presentation On Jp Morgans Asia Pacific And Emerging Markets Equity Confe...TIM RI
This document summarizes Mr. Francesco Locati's presentation at JP Morgan's Asia Pacific and Emerging Markets Equity Conference in September 2007. The presentation provided an overview of TIM Participações S.A., including its strategic objectives to consolidate leadership in mobile services and capture fixed-line revenues through convergence. It also reviewed TIM's 2Q07 results, which showed solid net service revenue growth and lower acquisition costs despite higher postpaid customer and handset mix. Finally, it discussed TIM's net financial position and positive net cash flow in 2Q07 excluding seasonal dividends paid.
The document is a presentation by CSU about its business and the Brazilian payment processing industry. It provides the following key points:
1) CSU is the largest independent payment processor in Brazil and has experienced rapid growth in processing credit and debit card transactions.
2) The Brazilian card market has grown significantly in recent years and is expected to continue growing due to increasing card penetration and usage.
3) CSU provides a full suite of processing services to issuers and is well positioned to expand into acquirer processing following regulatory changes opening up that market.
4) CSU has multiple revenue streams, high client loyalty, and economies of scale that support its profitable business model. The presentation outlines CSU's
The Philippine economy grew at 3.7% last year, slower than other ASEAN countries but still managing growth despite global economic challenges. Strong consumer spending and growth in the services sector compensated for sluggish government infrastructure spending and declines in fishing. Inflation contracted to 2.7% while lending rates are at their lowest. Most institutions forecast 3.5-4.0% growth for the Philippines this year, supported by rising OFW remittances which exceeded $20 billion in 2011.
While Philippine GDP grew at a modest 3.7% last year, lower than neighboring ASEAN countries, strong consumer spending and the resilient services sector helped compensate. Office space options in Metro Manila are currently limited due to high demand from business process outsourcing firms. In the residential property market, over 33,000 new condominium units were completed last year with vacancy rates remaining below 6%. Major mall operators are improving shopping experiences through new technologies and attractions to increase foot traffic.
Tim Participacoes reported its 3Q08 results. Key highlights included growing the subscriber base 20.7% YoY to 35.2 million users, stabilizing ARPU at R$29.7, and increasing EBITDA 47.5% YoY to R$799.8 million through tight expense control and lower bad debt. The company launched new convergent offers like TIM Fixo wireline telephony and expanded its 3G broadband portfolio. Operational improvements and financial discipline helped deliver on commitments to improve profitability.
The Korea Fund underperformed its benchmark, the MSCI Korea Index, in the fourth quarter of 2012 by 39 basis points. Within sectors, stock picks in consumer discretionary hurt performance while selections in industrials and an underweight in financials helped. Growth stocks strongly outperformed value stocks last quarter, contrasting the third quarter. The Fund initiated positions in selected IT and consumer names and exited a credit card company due to regulatory changes.
TBC Bank had strong financial performance in H1 2011. Total assets grew to $1.66 billion as of June 2011, with net loans at $1.03 billion and customer deposits at $972 million. ROE for H1 2011 was a healthy 24.3% and the bank had strong capital ratios with a Tier 1 capital adequacy ratio of 19.5%. TBC Bank is the largest bank in Georgia by retail deposits with a 33.1% market share as of June 2011 and has a long history of growth and expansion since 1993.
- The WIOF Global Listed Utilities Fund increased 1.8% in the past month and 6.6% over the past year, underperforming its benchmark index which rose 1.3% and 1.2% respectively.
- The underperformance was due to not holding shares in three North American gas companies that were takeover targets and rose significantly.
- Top performing holdings were US electricity utilities, while worst were a global satellite operator and Hong Kong electricity utility.
- The portfolio was adjusted by adding four North American utilities and exiting four European utilities.
- Regulated utilities are expected to perform well in 2012 as growth remains challenging in Europe and the US outperforms.
Tim Presentation On Jp Morgans Asia Pacific And Emerging Markets Equity Confe...TIM RI
This document summarizes Mr. Francesco Locati's presentation at JP Morgan's Asia Pacific and Emerging Markets Equity Conference in September 2007. The presentation provided an overview of TIM Participações S.A., including its strategic objectives to consolidate leadership in mobile services and capture fixed-line revenues through convergence. It also reviewed TIM's 2Q07 results, which showed solid net service revenue growth and lower acquisition costs despite higher postpaid customer and handset mix. Finally, it discussed TIM's net financial position and positive net cash flow in 2Q07 excluding seasonal dividends paid.
Estacio Participacoes is a Brazilian education company that operates universities and colleges. It has a national footprint in Brazil with over 113,000 students. The company focuses on organic growth through new programs and campus expansions, acquisitions of complementary education institutions, and distance learning opportunities. It aims to increase market share while focusing on returns through an asset-light business model with low capital expenditures. Estacio Participacoes has grown revenue and margins in recent years and seeks to continue expanding its business and market position in the large and growing Brazilian post-secondary education sector.
Profarma's market share reached a record high of 12.8% in 4Q07, up from 9.6% in 2006. Consolidated gross revenue grew 40.1% compared to 4Q06, reaching R$740.4 million. Adjusted EBITDA was R$26.2 million, a 35.3% increase over 4Q06. New regions showed strong growth, with revenues of R$75 million, up 34.6% over 3Q07. The company reduced errors per million units shipped by 34.5% between 3Q07 and 4Q07.
The document discusses trends in the global filmed entertainment industry from 1960-2015. It finds that while consumer spending on media is growing, time spent watching media is shifting to new platforms. Total global box office revenue is expected to grow 6% through 2015 to $49 billion, with most growth coming from Asia and Latin America. However, the number of films released in North America has declined in recent years despite an overall increase in independent films.
Hyundai Capital provides a mid-year investor presentation highlighting its strong fundamentals and performance in the first half of 2012. Key points include:
- Good profitability with an operating income of KRW 330 billion and ROA of 2.5%, despite slower new car sales.
- Excellent asset quality shown by a low 30+ day delinquency rate of 2.1% and sound capital structure with leverage of 5.8x.
- Committed shareholder support from Hyundai Motor Company and an extended credit line from GE Capital.
- Continuous improvement in credit ratings from rating agencies despite challenges from weaker new car sales.
The document discusses Arezzo&Co's financial results for the third quarter of 2011, highlighting an 18.9% increase in net revenue, 47.5% growth in EBITDA, and a 63.3% rise in net income. It also outlines the company's expansion plans, including opening new owned stores and franchises to strengthen its multi-channel distribution strategy and national presence.
capital onePrinter Friendly Version of the Conference Call Presentationfinance13
- Fourth quarter 2008 results showed a loss due to higher provision expense and a goodwill write-down. The losses were driven by deterioration in credit performance as economic conditions worsened.
- Credit losses and delinquency rates increased across all lending segments as unemployment rose. The allowance for loan losses was increased substantially.
- Deposits grew significantly while margins declined due to credit costs and mix shift to lower-yielding assets. Expenses declined due to cost management efforts.
- An impairment charge was taken for goodwill in the Auto Finance segment. The balance sheet and liquidity remain strong despite the difficult environment.
This presentation from Braskem contains forward-looking statements that are valid only as of a certain date and Braskem does not undertake to update them. It is not responsible for investment decisions based on this information. Braskem is the largest thermoplastic resin producer in Latin America with a capacity of 3.44 million tons and leadership in Brazil's fast-growing domestic market, achieving 8-10% annual growth. Through organic growth and acquisitions, it aims to become one of the top 10 largest petrochemical companies globally measured by enterprise value. Its ownership structure includes a controlling group and free float shares.
The document provides an overview of Banco Santander's 2009 IFRS results on a pro forma basis. It discusses the macroeconomic environment in Brazil and the country's financial system. It then summarizes Santander's strategy, business performance, and financial results in 2009. Key highlights include net profit growth of 41% year-over-year to R$5.5 billion driven by revenue growth and cost control. Performance ratios like efficiency and ROE improved significantly. The balance sheet also strengthened with higher capital ratios.
The Korea Fund underperformed the MSCI Korea benchmark in the second quarter of 2012, with the MSCI Korea dropping sharply by 8.6% in USD terms. Foreign investors sold a net $5 trillion worth of Korean equities, though the Korean won depreciated only moderately against the USD. During the quarter, the Fund outperformed its benchmark by 42 basis points due to strong stock picks in consumer discretionary, while IT and materials detracted. Quality stocks outperformed in the volatile market conditions, with low debt, low volatility stocks performing well.
Banco Santander reported its 1Q09 results on April 29th, 2009. The presentation provided an overview of Brazil's macroeconomic scenario, noting that while GDP growth slowed in 2009 due to the global crisis, Brazil's fundamentals remain strong. It discussed how Brazil's financial system is well-capitalized and more resilient compared to previous crises. Finally, it summarized Santander's strategy and franchise in Brazil, highlighting the progress of its integration and how the combined network provides better service and access for its over 9 million customers.
Banco ABC - 3rd Quarter 2008 Results PresentationBanco ABC Brasil
This 3 sentence summary provides the key highlights from the 3Q08 Earnings Presentation:
The presentation discusses Banco ABC Brasil's 3Q08 financial results, noting that net income grew 11.5% over 2Q08 to R$48.4 million, the efficiency ratio was 35.8%, and the credit portfolio reached R$6,879.1 million, growing 5.9% over 2Q08. Return on equity was a strong 16.9% for the quarter.
- The company reported a 3.7 day reduction in its cash cycle compared to 2009, lowering costs by R$22.9 million. Operating cash flow was positive for the third straight year at R$44.4 million.
- Gross revenues increased 3.0% to R$3.1 billion in 2010, with strong 37.8% growth in health and beauty products. Sales through electronic orders reached a record 65.3% of total sales.
- Net debt declined R$9.4 million to R$108.7 million in 2010 due to positive operating cash generation of R$44.4 million.
1) The document is a presentation to investors about the company's overview, businesses, and industry fundamentals.
2) The company is a leading technology services provider in Brazil, being the largest independent administrator of credit cards with 56% market share and one of the largest independent call center services providers.
3) The company's credit card administration business fostered other leading business units such as customer support, collections, fraud prevention, and loyalty programs due to economies of scale and high switching costs for clients.
CSU's consolidated revenue grew 11% in 2Q08 compared to 2Q07. Gross profit increased 84% and EBITDA jumped 182% over the same period due to revenue growth outpacing cost increases. The cards market maintained 18.7% annual growth while CardSystem outperformed with 21.4% growth. CSU aims to continue growing its payments processing unit while improving profitability across all business units through cost controls and productivity gains.
Ubs pactual 2007 brazil ceo conference somente em inglêsCSURIWEB
The document is a presentation by UBS Pactual discussing UBS Pactual's position in the Brazilian market. Some key points:
1) UBS Pactual is Brazil's largest independent administrator of credit cards, with a 44% market share, and the leading independent call center in Brazil.
2) In 2005, UBS Pactual's card processing services generated R$357 million in revenue and R$71 million in gross profit.
3) UBS Pactual has leveraged its expertise in credit card administration to develop other leading business units such as collections, fraud prevention, and loyalty programs.
A empresa de tecnologia anunciou um novo smartphone com câmera aprimorada, maior tela e melhor desempenho. O dispositivo também possui recursos adicionais de inteligência artificial e segurança de dados aprimorados. O lançamento do novo smartphone está programado para o final deste ano.
1) The company reported gross revenue of R$103.6 million in 3Q10, a 2.5% reduction from 3Q09. Gross profit increased 1.8% to R$28.3 million.
2) Net income grew 36.8% to R$7.2 million compared to the same period in 2009.
3) Key metrics for the CardSystem business showed a reduction in revenue and costs due to a contraction in the client base, while gross margin increased. The CSU.Contact business saw revenue growth of 5.4% but higher costs led to a decline in EBITDA.
This presentation provides an overview of CSU, a leading technology services provider in Brazil. Some key points:
- CSU is the largest independent administrator of credit cards in Brazil, with a 44% market share, and is also a leader in call center services.
- The company has experienced strong growth historically through diversifying its business units and pursuing cross-selling opportunities.
- Growth opportunities exist in expanding existing businesses, entering new markets, acquiring new clients, and pursuing organic market growth.
- Main strategic actions for 2007 focus on completing commercial strategies, expanding volumes, increasing profitability, and strengthening business units.
- CSU emphasizes high levels of corporate governance and a focus on human resources to
- CSU is the largest independent electronic payment processor in Latin America with over 20 million cards and 55% market share in Brazil.
- The company provides full business process outsourcing services for issuers and acquirers of electronic payment transactions in Brazil through its proprietary CardSystem platform.
- CSU has experienced consistent growth and profitability through ongoing investments in technology and expansion of its service offerings to new market segments beyond financial institutions.
Estacio Participacoes is a Brazilian education company that operates universities and colleges. It has a national footprint in Brazil with over 113,000 students. The company focuses on organic growth through new programs and campus expansions, acquisitions of complementary education institutions, and distance learning opportunities. It aims to increase market share while focusing on returns through an asset-light business model with low capital expenditures. Estacio Participacoes has grown revenue and margins in recent years and seeks to continue expanding its business and market position in the large and growing Brazilian post-secondary education sector.
Profarma's market share reached a record high of 12.8% in 4Q07, up from 9.6% in 2006. Consolidated gross revenue grew 40.1% compared to 4Q06, reaching R$740.4 million. Adjusted EBITDA was R$26.2 million, a 35.3% increase over 4Q06. New regions showed strong growth, with revenues of R$75 million, up 34.6% over 3Q07. The company reduced errors per million units shipped by 34.5% between 3Q07 and 4Q07.
The document discusses trends in the global filmed entertainment industry from 1960-2015. It finds that while consumer spending on media is growing, time spent watching media is shifting to new platforms. Total global box office revenue is expected to grow 6% through 2015 to $49 billion, with most growth coming from Asia and Latin America. However, the number of films released in North America has declined in recent years despite an overall increase in independent films.
Hyundai Capital provides a mid-year investor presentation highlighting its strong fundamentals and performance in the first half of 2012. Key points include:
- Good profitability with an operating income of KRW 330 billion and ROA of 2.5%, despite slower new car sales.
- Excellent asset quality shown by a low 30+ day delinquency rate of 2.1% and sound capital structure with leverage of 5.8x.
- Committed shareholder support from Hyundai Motor Company and an extended credit line from GE Capital.
- Continuous improvement in credit ratings from rating agencies despite challenges from weaker new car sales.
The document discusses Arezzo&Co's financial results for the third quarter of 2011, highlighting an 18.9% increase in net revenue, 47.5% growth in EBITDA, and a 63.3% rise in net income. It also outlines the company's expansion plans, including opening new owned stores and franchises to strengthen its multi-channel distribution strategy and national presence.
capital onePrinter Friendly Version of the Conference Call Presentationfinance13
- Fourth quarter 2008 results showed a loss due to higher provision expense and a goodwill write-down. The losses were driven by deterioration in credit performance as economic conditions worsened.
- Credit losses and delinquency rates increased across all lending segments as unemployment rose. The allowance for loan losses was increased substantially.
- Deposits grew significantly while margins declined due to credit costs and mix shift to lower-yielding assets. Expenses declined due to cost management efforts.
- An impairment charge was taken for goodwill in the Auto Finance segment. The balance sheet and liquidity remain strong despite the difficult environment.
This presentation from Braskem contains forward-looking statements that are valid only as of a certain date and Braskem does not undertake to update them. It is not responsible for investment decisions based on this information. Braskem is the largest thermoplastic resin producer in Latin America with a capacity of 3.44 million tons and leadership in Brazil's fast-growing domestic market, achieving 8-10% annual growth. Through organic growth and acquisitions, it aims to become one of the top 10 largest petrochemical companies globally measured by enterprise value. Its ownership structure includes a controlling group and free float shares.
The document provides an overview of Banco Santander's 2009 IFRS results on a pro forma basis. It discusses the macroeconomic environment in Brazil and the country's financial system. It then summarizes Santander's strategy, business performance, and financial results in 2009. Key highlights include net profit growth of 41% year-over-year to R$5.5 billion driven by revenue growth and cost control. Performance ratios like efficiency and ROE improved significantly. The balance sheet also strengthened with higher capital ratios.
The Korea Fund underperformed the MSCI Korea benchmark in the second quarter of 2012, with the MSCI Korea dropping sharply by 8.6% in USD terms. Foreign investors sold a net $5 trillion worth of Korean equities, though the Korean won depreciated only moderately against the USD. During the quarter, the Fund outperformed its benchmark by 42 basis points due to strong stock picks in consumer discretionary, while IT and materials detracted. Quality stocks outperformed in the volatile market conditions, with low debt, low volatility stocks performing well.
Banco Santander reported its 1Q09 results on April 29th, 2009. The presentation provided an overview of Brazil's macroeconomic scenario, noting that while GDP growth slowed in 2009 due to the global crisis, Brazil's fundamentals remain strong. It discussed how Brazil's financial system is well-capitalized and more resilient compared to previous crises. Finally, it summarized Santander's strategy and franchise in Brazil, highlighting the progress of its integration and how the combined network provides better service and access for its over 9 million customers.
Banco ABC - 3rd Quarter 2008 Results PresentationBanco ABC Brasil
This 3 sentence summary provides the key highlights from the 3Q08 Earnings Presentation:
The presentation discusses Banco ABC Brasil's 3Q08 financial results, noting that net income grew 11.5% over 2Q08 to R$48.4 million, the efficiency ratio was 35.8%, and the credit portfolio reached R$6,879.1 million, growing 5.9% over 2Q08. Return on equity was a strong 16.9% for the quarter.
- The company reported a 3.7 day reduction in its cash cycle compared to 2009, lowering costs by R$22.9 million. Operating cash flow was positive for the third straight year at R$44.4 million.
- Gross revenues increased 3.0% to R$3.1 billion in 2010, with strong 37.8% growth in health and beauty products. Sales through electronic orders reached a record 65.3% of total sales.
- Net debt declined R$9.4 million to R$108.7 million in 2010 due to positive operating cash generation of R$44.4 million.
1) The document is a presentation to investors about the company's overview, businesses, and industry fundamentals.
2) The company is a leading technology services provider in Brazil, being the largest independent administrator of credit cards with 56% market share and one of the largest independent call center services providers.
3) The company's credit card administration business fostered other leading business units such as customer support, collections, fraud prevention, and loyalty programs due to economies of scale and high switching costs for clients.
CSU's consolidated revenue grew 11% in 2Q08 compared to 2Q07. Gross profit increased 84% and EBITDA jumped 182% over the same period due to revenue growth outpacing cost increases. The cards market maintained 18.7% annual growth while CardSystem outperformed with 21.4% growth. CSU aims to continue growing its payments processing unit while improving profitability across all business units through cost controls and productivity gains.
Ubs pactual 2007 brazil ceo conference somente em inglêsCSURIWEB
The document is a presentation by UBS Pactual discussing UBS Pactual's position in the Brazilian market. Some key points:
1) UBS Pactual is Brazil's largest independent administrator of credit cards, with a 44% market share, and the leading independent call center in Brazil.
2) In 2005, UBS Pactual's card processing services generated R$357 million in revenue and R$71 million in gross profit.
3) UBS Pactual has leveraged its expertise in credit card administration to develop other leading business units such as collections, fraud prevention, and loyalty programs.
A empresa de tecnologia anunciou um novo smartphone com câmera aprimorada, maior tela e melhor desempenho. O dispositivo também possui recursos adicionais de inteligência artificial e segurança de dados aprimorados. O lançamento do novo smartphone está programado para o final deste ano.
1) The company reported gross revenue of R$103.6 million in 3Q10, a 2.5% reduction from 3Q09. Gross profit increased 1.8% to R$28.3 million.
2) Net income grew 36.8% to R$7.2 million compared to the same period in 2009.
3) Key metrics for the CardSystem business showed a reduction in revenue and costs due to a contraction in the client base, while gross margin increased. The CSU.Contact business saw revenue growth of 5.4% but higher costs led to a decline in EBITDA.
This presentation provides an overview of CSU, a leading technology services provider in Brazil. Some key points:
- CSU is the largest independent administrator of credit cards in Brazil, with a 44% market share, and is also a leader in call center services.
- The company has experienced strong growth historically through diversifying its business units and pursuing cross-selling opportunities.
- Growth opportunities exist in expanding existing businesses, entering new markets, acquiring new clients, and pursuing organic market growth.
- Main strategic actions for 2007 focus on completing commercial strategies, expanding volumes, increasing profitability, and strengthening business units.
- CSU emphasizes high levels of corporate governance and a focus on human resources to
- CSU is the largest independent electronic payment processor in Latin America with over 20 million cards and 55% market share in Brazil.
- The company provides full business process outsourcing services for issuers and acquirers of electronic payment transactions in Brazil through its proprietary CardSystem platform.
- CSU has experienced consistent growth and profitability through ongoing investments in technology and expansion of its service offerings to new market segments beyond financial institutions.
- CSU's card business achieved record growth in 1Q08, with its card base reaching 17.6 million cards compared to the market growth of 19.3%.
- Revenues increased 12.5% to R$88.3 million in 1Q08 due to strategic agreements signed in late 2007 and early 2008, while costs grew only 2.4%, improving profits.
- Gross profits rose 101.3% to R$15.3 million in 1Q08 with gross margins increasing to 18.1% from 9.7% in 1Q07 as a result of lower costs.
This presentation provides an overview of CSU, a leading technology services provider in Brazil. Some key points:
- CSU is the largest independent administrator of credit cards in Brazil, with a 44% market share, and is also a leader in call center services.
- The company has experienced strong growth due to its leadership in credit card processing and diversification into other business units like customer support and collections.
- Industry fundamentals for credit cards and call centers in Brazil remain attractive, with continued growth expected.
- CSU's strategic focus is on organic growth, cross-selling opportunities, acquiring new clients, and entering new business segments and markets.
Twenty years ago, CSU Group was founded in Brazil to support banks and retailers in issuing credit cards. Since then, CSU Group has grown to become a leading provider of payment processing and customer engagement solutions. It now has operations across multiple Brazilian cities and has trained over 18,000 students through its social programs. CSU Group aims to provide innovative, high-quality solutions through its four divisions: payment processing, business process management, marketing solutions, and contact center management.
- CSU improved profitability in 3Q12 with net margin of 6.0% and EBITDA margin of 17.8%
- CSU is focusing on commercial expansion to leverage existing assets and enter new markets and segments
- CSU aims to launch new high-technology products with profitability by the end of 2012 to drive growth
This document summarizes a conference call about a company's 4th quarter 2006 results. It includes the following key points:
1) The Brazilian credit card market grew 12.1% in 2006, while the company's card base (CSU) grew 23.1%. CSU also increased its market share leadership.
2) CSU is set to start generating monthly revenues in May 2007 from its largest ever contract to process over 4 million credit cards for Caixa, Brazil's largest bank.
3) CSU's gross revenues grew 5.6% in 2006. Its CardSystem unit grew revenues 7.2% but had lower profit margins due to non-recurring revenues in 4Q2005.
CSU CardSystem is Brazil's largest independent processor of electronic payment means. It offers a full range of services to card issuers in Brazil, including authorization, financial information, interchange, and electronic transaction processing. CSU plays a central role in Brazil's rapidly growing electronic payment industry, which is driven by stronger consumption and increased financial services usage. The opening of the acquirer industry in 2010 created an opportunity for CSU to expand.
This presentation provides an overview of CSU CardSystem S/A's financial performance in the second quarter of 2009. Some key points:
- Revenue grew 12.1% year-over-year driven by organic growth of existing business units. Gross margins and EBITDA margins improved due to economies of scale.
- Net debt was reduced from R$98 million to R$77.5 million due to positive cash flow. Financial expenses decreased as interest rates fell.
- CSU maintained investments in technology and projects like Alphaview to support future growth while controlling costs.
- Strategies for the second half include continuing investments in growth, consolidating recent sales changes, and maintaining cost
The document summarizes the history and operations of CSU Group, an independent company providing outsourced management and processing services for electronic payments. It discusses the company's four business divisions: payment processing and management, business process management for credit card acquirers, marketing solutions, and contact center/BPO management. It then provides details on CSU's focus on excellence in customer care through recruiting, training, management, and talent retention practices as well as its technological infrastructure and contact center operations.
CSU CardSystem SA is a Brazilian company that provides payment solutions and call center services. The document summarizes CSU's financial performance in 2008 and outlines strategies for 2009. Key points include:
1) CSU grew revenues by 22% in 2008 driven by increased card issuance and new call center contracts. Gross margins also improved due to economies of scale.
2) CSU reduced debt from R$95.2 million to R$94.9 million in the last quarter through cash generation and working capital management.
3) Strategies for 2009 focus on maintaining investment in growth units, finalizing a new structure for call centers, and increasing overall profitability and margins.
The presentation provides an overview of CSU and the Brazilian payment processing industry. It notes that the industry is growing rapidly as card usage increases along with rising consumption levels in Brazil. CSU is positioned for continued growth as the largest independent payment processor in Brazil. The opportunity for acquirer processing will expand significantly for CSU in July 2010. The presentation also outlines CSU's full suite of services for card issuers and the overall electronic payment value chain.
The document is a presentation by Banco Santander (Brasil) S.A. for fixed income investors in February 2011. It discusses Brazil's solid macroeconomic fundamentals including large foreign reserves, declining debt levels, and stable interest and inflation rates. It also notes Brazil's favorable social dynamics including a demographic bonus from a growing workforce and increasing social mobility. The presentation aims to provide investors an overview of the Brazilian economy, Santander Group, and Santander Brasil.
Apresentacao renda fixa_final.v2.11.02.11risantander
The document is a presentation by Banco Santander (Brasil) S.A. for fixed income investors in February 2011. It discusses Brazil's solid macroeconomic fundamentals including large foreign reserves, declining debt levels, and stable interest and inflation rates. It also notes Brazil's favorable social dynamics including a demographic bonus from a growing workforce and increasing social mobility. The presentation aims to provide investors an overview of the Brazilian economy, Santander Group, and Santander Brasil.
Gafisa reported its third quarter 2008 results with increases in launches, pre-sales, revenues and net income compared to the third quarter of 2007. Key highlights included a 79% increase in launches to R$762 million and a 37% rise in pre-sales to R$504 million. Net operating revenues grew 19% to R$373 million while net income increased 5% to R$38 million. Gafisa also completed its acquisition of Tenda, strengthening its position in the low income real estate segment. Looking ahead, Gafisa expects to benefit from the Tenda consolidation in the fourth quarter and maintained its full year 2008 guidance.
This document summarizes Gafisa's second quarter 2008 results. Some key highlights include:
1) Launches increased 102% and pre-sales increased 62% compared to the second quarter of 2007. Net operating revenues rose 63%.
2) EBITDA reached R$74 million, a 106% increase, and net income increased 67% compared to the second quarter of 2007.
3) Gafisa has expanded its operations to 20 Brazilian states with 143 developments nationwide, diversifying its product offerings and presence in new markets.
Banco Sabadell reported results for fiscal year 2010. Net interest income declined 8.8% due to a higher cost of funding, though capital ratios improved. Commercial activity generated an important GAP and liquidity remained comfortable without reliance on ECB funding. Loan growth continued alongside sustained increases in customers and deposits. Cost management was good and Banco Guipuzcoano was efficiently integrated.
The Brasilian Ict Market 9 10 Nov. 2005 Milangdonnini
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2005 - 5th Us Analyst And Investor Meeting FinancialsEmbraer RI
This presentation provides financial results and performance summaries for Embraer from 1998-2004. It includes forward-looking statements about future events and circumstances. The document discusses net revenues, gross margin, income from operations, net income, balance sheet items including suppliers, inventories, receivables, cash position, and indebtedness. It also summarizes return on assets, return on equity, investments in property, plant and equipment and research and development, contributions from risk-sharing partners, and future investment forecasts. Contact information is provided for investor relations.
The document provides an overview of Banco Santander's 2009 results. Key points include:
- Net profit grew 41% year-over-year to R$5.5 billion in 2009, driven by revenue growth and cost control.
- Performance ratios improved in 2009, with the efficiency ratio dropping to 35.0% and ROE increasing to 19.3%.
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Gafisa reported strong financial and operational results for 2007 and 4Q07. Key highlights included:
- 122% increase in consolidated launches and 63% increase in pre-sales for 2007. Net operating revenues rose 77% for the year.
- 4Q07 results showed 176% increase in launches and 75% increase in pre-sales over 4Q06. Net operating revenues rose 56% quarter-over-quarter.
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The document contains CCR's 2Q07 earnings presentation. It summarizes that CCR saw an 8.4% increase in net revenue and 56.1% increase in net income in 2Q07. Traffic increased 6.3% in 2Q07 and operating costs decreased 7.2%, contributing to improved margins. CCR also provided details on its results by concession and an outlook for continued growth through investments in its existing concessions and pursuing new opportunities.
The document summarizes Ideiasnet's 3Q08 financial results. Key highlights include:
- Net revenue grew 17.7% to R$231.4 million in 3Q08 compared to 3Q07.
- EBITDA grew 64% to R$7.4 million in 3Q08 compared to 3Q07.
- The company invested R$10.1 million in its portfolio companies in 3Q08, including Bolsa de Mulher, Spring Wireless, and Automatos.
- At the end of 3Q08, Ideiasnet had a net credit position of R$2.6 million after being in a net debt position previously.
Gafisa reported strong financial results for the first quarter of 2008, with consolidated launches increasing 91% year-over-year, pre-sales up 97% quarter-over-quarter, and net operating revenues rising 42% quarter-over-quarter. Net income increased to R$42 million in 1Q08 compared to the adjusted net income of R$21 million in 1Q07. Gafisa also expanded into two new markets, upgraded its credit rating, and saw continued growth in the mortgage lending market in Brazil. Looking ahead, Gafisa is well positioned for further growth and has a diversified land bank to support its expansion plans.
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3) On a consolidated basis, total revenue increased 1.6% to Rs. 814.2 crores while profit before tax decreased 55.2% to Rs. 34.7 crores.
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April 2011 - GlobalCollect has kicked off a series of webinars to take a closer look at the ins and outs of emerging markets by zooming in on the BRIC countries, as those boast double digit growth numbers and thus offer tremendous potential for e-commerce opportunities. Both the presentation and video will give you the necessary background to devise a winning payment strategy in each BRIC country. Throughout the rest of the year, we will follow up with further webinars on emerging markets that will take an in-depth look at individual countries and specific verticals – so stay tuned via http://www.globalcollect.com/payment-service-provider/Knowledge-center/
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O documento resume os resultados financeiros da CSU CardSystem no 2T13, destacando:
1) Lucro líquido de R$0,5 milhões, revertendo prejuízo do trimestre anterior;
2) Aumento de 6,3% na margem EBITDA em relação ao 1T13;
3) Maior emissão mensal de cartões dos últimos 2 anos.
- CSU CardSystem reported a net income of R$0.5 million in 2Q13, reversing the loss in 1Q13, with an increase in EBITDA margin of 6.3 percentage points.
- Gross revenue grew 9.0% over 1Q13, with 900,000 new cards issued in May 2013, the largest monthly issuance in two years.
- New clients were acquired for the Opte+ platform and CSU Contact, while costs were reduced through an implementation program.
CSU completed 20 years of operations in 2012 and evolved into a full service provider of electronic transaction processing and administration. The company expanded into new fast-growing markets with profitable products and services. CSU achieved similar financial results in 2012 as in 2011, with margin expansion, generating R$64.8 million in EBITDA and R$22.2 million in net income for the year. Key business units grew customer bases, transactions and service offerings despite losing a large contract. The company maintained investments in innovative solutions and infrastructure while reducing expenses.
- A CSU apresentou resultados financeiros estáveis em 2012 com EBITDA de R$ 64,8 milhões e lucro líquido de R$ 22,2 milhões. No 4T12 a receita bruta foi de R$ 93,6 milhões com lucro líquido de R$ 3,2 milhões.
- Em 2012 a média de cartões cadastrados na CSU CardSystem foi de 19,9 milhões. A CSU Contact expandiu sua margem bruta para 12,4% no 4T12 operando 3,9 mil posições de atendimento.
-
O documento resume os resultados financeiros do 3T12, destacando a melhoria nas margens de lucro, o crescimento consistente da margem bruta da unidade de negócios CSU Contact e o aumento de 28,8% no lucro líquido em relação ao ano anterior.
1) O documento resume os resultados do 3T12, com melhoria nas margens de lucro e expansão consistente na margem bruta da unidade de negócios CSU Contact.
2) A estratégia da empresa foca na expansão e diversificação de receitas, consolidando o posicionamento da CSU como provedora de soluções completas de transações eletrônicas.
3) A empresa direciona seus esforços para a expansão comercial, retomada do crescimento, e lançamento de novos produtos inovadores ainda em 2012.
O documento descreve a história de 20 anos do Grupo CSU no mercado brasileiro de pagamentos eletrônicos, estabelecendo quatro divisões de negócios e consolidando uma base sólida de clientes. O mercado de cartões no Brasil experimentou forte crescimento nos últimos anos e o Grupo CSU se posiciona para aproveitar novas oportunidades com a abertura do mercado de adquirência a mais concorrentes.
1) CSU is a leading provider of technology and business process outsourcing services in Brazil, with a 20 year track record and 20 million card accounts processed.
2) It operates the largest independent electronic payments processing platform in Brazil with a 44% market share among independent processors.
3) CSU offers a full range of services to card issuers and acquirers, including authorization, processing, customer service, and data analytics.
O documento apresenta a agenda do evento CSU Day 2012. A agenda inclui uma seção sobre a CSU, suas unidades de negócios de meios eletrônicos de pagamento, marketing services e contact center. Também inclui seções sobre a CSU por dentro, perspectivas para os mercados e slides adicionais.
- CSU reported strong growth in 2Q12, with EBITDA expanding 19.7% and the EBITDA margin rising to 20.2%
- Gross revenues totaled R$103.5 million and the gross margin increased to 25.7%
- New contracts were signed to issue cards with Banco do Nordeste and Banpará that will generate over R$70 million in revenues
1) A empresa teve expansão de 19,7% no EBITDA e aumento da margem EBITDA para 20,2% no trimestre.
2) A receita bruta totalizou R$103,5 milhões e a margem bruta elevou-se para 25,7%.
3) Novos contratos foram assinados para emissão de cartões com Banco do Nordeste e Banpará.
O documento descreve a história e as operações do Grupo CSU, uma empresa pioneira em soluções de terceirização de processos de negócios no Brasil. O Grupo CSU possui quatro divisões de negócio e oferece serviços como processamento de pagamentos, gestão de processos, marketing digital e soluções de contact center. A empresa é reconhecida por sua excelência no atendimento, focando no desenvolvimento e retenção de talentos por meio de treinamentos, benefícios e oportunidades de carreira.
O documento descreve a história de 20 anos do Grupo CSU no Brasil. Ele foi pioneiro em fornecer soluções de terceirização e processamento de pagamentos para bancos e varejistas. Ao longo dos anos, o Grupo CSU expandiu suas operações e serviços, estabelecendo unidades em todo o país e conquistando reconhecimento no mercado por meio de prêmios e certificações. Atualmente, o Grupo CSU opera em quatro divisões de negócios relacionadas a pagamentos, fidelidade, contact center e ter
This document provides an overview of CSU CardSystem S/A, a Brazilian company with four business divisions: payment processing, business process management, solutions provider, and contact center management. It summarizes CSU's achievements in 2011, including resumed growth, successful migrations, alliances with banks/issuers, and the launch of new products. It outlines CSU's priorities for 2012, including expanding partnerships and product offerings, and increasing the use of new technologies. The document also discusses CSU's continuous investments in technology and healthy capital structure.
O documento descreve a história de 20 anos do Grupo CSU no mercado brasileiro de pagamentos eletrônicos, estabelecendo quatro divisões de negócios e consolidando uma base sólida de clientes. Ele também discute o crescimento do uso de cartões no Brasil e a nova regulamentação do mercado de adquirência, criando novas oportunidades competitivas.
- Gross revenue for the quarter totaled R$109.8 million, a 6% increase over the previous year's quarter. Key growth indicators like revenue, net profit, and EBITDA increased.
- The number of cards processed reached 25.3 million, up 26.5% year-over-year. APs at CSU Contact increased 21.3% annually.
- For the first nine months of 2011, gross revenues totaled R$319.3 million, up 1.4% over the same period in 2010, demonstrating the company's resiliency with increasing growth and profitability.
O documento resume os resultados financeiros da CSU CardSystem no 3T11. A receita bruta atingiu R$ 109,8 milhões, um recorde, 6% maior do que no 3T10. A CSU Contact teve aumento de 40,4% no lucro bruto. Foram processados 25,3 milhões de cartões, um crescimento de 26,5% em 12 meses.
2. Disclaimer
This presentation may include forward-looking statements involving expectations about
future events or results in accordance with Brazilian and international securities
regulations. These statements are based on certain assumptions and analyses made by
the Company based on its experience and the economic scenario, as well as on industry
conditions and expected future events, over many of which the Company has no
control. Important factors that could lead to significant differences between actual
results and these forward-looking statements involving expectations about future
events or results include the Company’s business strategy, the Brazilian and
international economic conditions, technology, financial strategy, client developments,
financial market conditions, uncertainty regarding the results from its future activities,
plans, goals, expectations, among others. In view of these factors, the Company’s
actual results may differ significantly from the results stated or implied by these
forward-looking statements.
The information and opinions contained in this presentation should not be construed as
a recommendation to potential investors and no investment decision should be based
on the veracity, timeliness or comprehensiveness of this information or these opinions.
None of the Company’s advisors or related parties or their representatives will be
liable for any losses resulting from the use of or content of this presentation.
2
3. CSU is an important investment opportunity in Brazil's electronic
payment means processing industry
• Rapid industry growth driven by stronger consumption and increased use
of financial services;
• Largest independent processor of electronic payment means in Brazil;
• The opening up of the Acquirer industry in July 2010 created an important
opportunity for CSU;
• Our Contact Center is well positioned to grow and increase profitability;
• Our strategy is supported by an operational platform developed over 20
years and adapted to the needs of the Brazilian market.
3
4. Brazil's card industry has experienced
explosive growth in recent years
Number of Cards Number of Transactions
(million) (million/month)
CAGR 04-10E CAGR 04-10E
628
15% 565 19% 594
514 509
453 444
388 369
336 309
277 263
210
2004 2005 2006 2007 2008 2009 2010E 2004 2005 2006 2007 2008 2009 2010E
Private Label Debit Credit Private Label Debit Credit
Brazil's GDP registered a CAGR of 3.6% from 2004 to 2009,
while GDP growth of 7.55% and 4.5% is expected for 2010 and 2011, respectively
Source: ABECS, Central Bank 4
5. Card growth is supported by
strong macroeconomic trends
• The penetration of cards in spending by Brazilian households rose from 8% in 1999 to 21%
in 2008;
• Increased access to banking services in Brazil has been driven by the intense migration
from the "D" and "E" income classes to the "A", "B" and "C" income classes;
• Brazil's higher income levels and increased access to banking services represent a
powerful driver of growth in card use and transaction volume.
Card use in household consumption Population by consumption level
(% of total)
42% 65.0%
38%
59.6%
56.6%
54.3%
52.6%
21% 50.1%
45.7%
43.4%
47.4% 40.4%
8%
35.0%
1999 2008 2017E* 2008 2004 2005 2006 2007 2008 2009
ABC DE
Brazil USA
Source: ABECS, CPS/FGV based on PNAD/IBGE data * ABECS forecast
5
6. CSU is an important investment opportunity
in Brazil's electronic payment means processing industry
• Rapid industry growth driven by stronger consumption and increased use
of financial services;
• Largest independent processor of electronic payment means in Brazil;
• The opening up of the Acquirer industry in July 2010 created an important
opportunity for CSU;
• Our Contact Center is well positioned to grow and increase profitability;
• Our strategy is supported by an operational platform developed over 20
years and adapted to the needs of the Brazilian market.
6
7. Electronic payment chain
Money Money
Brands
(Visa, MasterCard, Amex)
Request for
Approval Request for
Approval
Approval Approval
Issuers
(Banks and Retailers) Acquirers
Capture of
Money Card / Billing Electronic Money
Transactions
Commercial Transactions
Card Holders Merchants
7
8. CSU offers a full range of services
to card issuers in Brazil
• Financial Information
• Authorization • Interchange
• MIS • Electronic Transaction Processing
• Contact Center
Brands
• Accounting
• Processing (Visa, MasterCard, Amex)
• Fraud Prevention
• Operational Control
Issuers
(CSU Clients) Acquirers
CSU CardSystem
• Billing
• Invoicing
• Conflict Resolution CSU plays a central role
• Customer Support
in Brazil’s electronic
Card Holders transaction industry Merchants
8
9. Our Business Model: multiple revenue sources,
high client loyalty and economies of scale
Total Revenue and EBITDA Margin • We generate the same amount of revenue per card
3,014.9 (US$ million/2009)
as the United States, despite the lower transaction
1,741.9 1,688.1 volume;
36.2%
34.8% 29.5% 182.2
• Gross margin of First Data is the highest due to the
32.3%
royalties from Vision Plus, which represent the bulk
First Data Fidelity Tsys CSU of its revenue;
Client Turnover
(unit)
19 • Low client turnover
16 16 17
• High-quality services and attractive prices;
• High transition cost;
2 1 1 0
• Long contracts and high penalties for
terminating contracts.
2006 2007 2008 2009
Number of Clients Clients Turnover
Gross Income and Gross Margin
• CSU's high fixed processing costs give it competitive
(R$/million) costs as market leader;
94.3 • We share our competitive costs with our clients to
71.2 74.9 increase loyalty and limit competition.
54.4 50.9
43.4%
40.4%
37.7% 36.0%
34.4%
2006 2007 2008 2009 9M10 Source: CSU and websites of companies cited. 9
10. CSU is an important investment opportunity
in Brazil's electronic payment means processing industry
• Rapid industry growth driven by stronger consumption and increased use
of financial services;
• Largest independent processor of electronic payment means in Brazil;
• The opening up of the Acquirer industry in July 2010 created an important
opportunity for CSU;
• Our Contact Center is well positioned to grow and increase profitability;
• Our strategy is supported by an operational platform developed over 20
years and adapted to the needs of the Brazilian market.
10
11. Acquirer business is undergoing significant changes in Brazil
driven by new regulatory framework
Previous Situation With the New Regulations
• Two acquirers dominated the • Market open to competition
Brazilian market
• Several acquirers
• Exclusivity agreements with Antitrust authorities
Visa and MasterCard limited forced the end
competitiveness of the exclusivity
agreement
• Acquirers generated
in June 2010 New operators in Brazil's acquirer
extraordinary profits market
Net Income and Number of POS Transactions
Net Margin in 2009 and Number of Acquirers
(US$ million/%) 58.116
771
700 7.701
5.322
103 0.801
45.4% 2 10 12
42.4%
215
101 12.7% USA Brasil Reino Unido México
2.7%
Número de Transações (bilhões/2008)
Cielo Redecard Fidelity Tsys Número de Adquirentes
Source: Companies’ Annual Reports Source: BIS, Central Banks and ABECS 11
12. CSU is ready to offer a complete package of processing services
to Acquirers and Merchants
New Services
• Operations management
• Authorization
Brands • Billing
(Visa, MasterCard, Amex) • Network
• Accounting
• Processing
• Back Office
• MIS
Issuers Acquirers
(CSU Clients) (CSU Clients)
• Network Capture (POS)
CSU CardSystem • Contact Center
• Conflict
Resolution
• Billing
Card Holders Merchants
12
13. CSU is an important investment opportunity
in Brazil's electronic payment means processing industry
• Rapid industry growth driven by stronger consumption and increased use
of financial services;
• Largest independent processor of electronic payment means in Brazil;
• The opening up of the Acquirer industry in July 2010 created an important
opportunity for CSU;
• Our Contact Center is well positioned to grow and increase profitability;
• Our strategy is supported by an operational platform developed over 20
years and adapted to the needs of the Brazilian market.
13
14. Our Contact Center underwent major changes
and is positioned for profitable growth
• 9th Largest Contact Center in Brazil;
• Changes concluded in February 2010
• 5 sites closed;
• 1 site opened with lower Gross Income and Gross Margin
(R$ million)
operational costs; CAGR 06-09 -16.3%
135%
11.6
• More than 10 contracts 9.7
8.1
2.4
terminated due to poor financial 0.9 7.7% 7.8%
6.7%
0.5% 1.5%
performance. -3.2%
-5.4
2006 2007 2008 2009 9M09 9M10
• Financial results improved and
continue improving as a result of the
higher capacity utilization – current
focus is on sales efforts.
14
15. CSU is an important investment opportunity
in Brazil's electronic payment means processing industry
• Rapid industry growth driven by stronger consumption and increased use
of financial services;
• Largest independent processor of electronic payment means in Brazil;
• The opening up of the Acquirer industry in July 2010 created an important
opportunity for CSU;
• Our Contact Center is well positioned to grow and increase profitability;
• Our strategy is supported by an operational platform developed over 20
years and adapted to the needs of the Brazilian market.
15
16. Our strategy is supported by an operational platform developed
over 20 years and adapted to the needs of the Brazilian market
Belo Horizonte Back-up site (São Paulo) Alphaview site
• Our new Vision Plus software was developed over 20 years and has been extensively
customized for the Brazilian market and is the only platform in Brazil that is fully
prepared to handle multiple clients;
• Highly qualified development team and technicians;
• Alphaview Contact Center is state of the art in terms of facilities and its low operating
costs.
16
17. Our strategy seeks growth with strong profitability
Continue expanding Consolidate our entry
in the card into the card
processing segment processing segment
for issuers for acquirers
Continue investing in Expand the Contact
technology and Center segment while
software increasing
development profitability
17
19. Payment transaction services: strong operational performance
CSU Card Base
CAGR 06-09 (million)
24.9
• Rapid industry growth and new clients support
26%
expansion in the company's card base;
Banco
4.9 Nossa Caixa
19.0
23.2
20.0 CSU Base
• Growth above industry average in past 4 years;
15.6
11.3
3T06 3T07 3T08 3T09 3T10
Gross Revenue • Our complete range of financial services assures
CAGR 06-09
(R$ million)
17% -1.5% higher profitability per card;
253.7
213.9
156.7 159.2
189.5 186.6 • Negative variation in 12 months is due to loss of
Banco Nossa Caixa after its acquisition by Banco do
Brasil, which processes internally;
2006 2007 2008 2009 9M09 9M10
Gross Income and Gross Margin • Competitive costs due to constant investment in
(R$ million)
CAGR 06-09 11.2% technology and the large card base;
20% 94.3
74.9
71.2 67.3 • Scale gains shared with clients to increase loyalty
54.4 50.9
43.4%
40.4%
and discourage competition.
37.7% 36.0% 38.6%
34.4%
2006 2007 2008 2009 9M09 9M10 Source: CSU 19
20. Contact Center: positioned for profitable growth
Number of Workstations
(thousands)
4,796
• Changes concluded in February 2010;
4,283 4,225
3,494 3,468
• Number of workstations begins to grow once
again;
2006 2007 2008 2009 3T10
• Higher revenue per workstation keeps the unit's
Gross Revenue
(R$ million)
revenue stable, despite the lower number of
-3.2%
197.6
174.3 177.2 172.7
workstations;
132.6 128.4
• Expectations of revenue growth due to focus on
sales efforts;
2006 2007 2008 2009 9M09 9M10
Gross Income and Gross Margin
(R$ million) -16.3%
• Management focused on margin expansion;
11.6
9.7 8.1 • Profitability should increase as capacity
0.9 2.4 7.8%
7.7% 6.7% utilization recovers.
0.5% 1.5%
-3.2%
-5.4
2006 2007 2008 2009 9M09 9M10 Source: CSU 20
21. Continuous investment in our software and
substantial improvement in net debt
CAPEX
(R$ million)
43.7 46,9
40.6
28.9 21.0 11.4
25.4
21.0
24.4
13.9 4.3 2.2
• Strong cash generation:
19.3 15.0 25.9 21.1 29.2 18.8 CSU generates sufficient
2005 2006 2007 2008 2009 9M10
cash to support its
Software Outros
investment plan (CAPEX),
Net Debt and Net Debt/EBITDA reduce net debt and make
(R$ million)
shareholder payments.
109.1
95.0
59.5 55.5
21.6 3.2x
16.0
1.5x 1.5x
0.5x 0.7x 0.2x
2005 2006 2007 2008 2009 9M10
Source: CSU 21
23. High level of Corporate Governance
100% common shares and 44% free float
Novo Mercado (100% tag-along rights)
6 independent board members
Fiscal Council
3 members, with 1 appointed by minority shareholders
Solid investor relations culture
Investment by private equity funds since 1997
Well structured internal controls
Stock option plan for executives
Alignment of management's and shareholders' interests
No poison pills
23