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$75 million, up 34.6% over 3Q07. The company reduced errors per million units shipped by 34.5% between 3Q07 and 4Q07.
2. Highlights For The Period
• Profarma’s market share breaks the record and reaches 12.8% or 0.8 percentage points above
the share reached in the 3Q07 and 3.2 percentage points above the 9.6% reached in 2006.
• Growth of 40.1% of the consolidated Gross Revenue when compared to the same period in
2006, reaching R$ 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
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. 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
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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. 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. 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
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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
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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
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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. 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. 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
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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
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