- The company opened a new distribution center in Pernambuco, Brazil which will serve markets in Pernambuco and Paraíba. - Gross revenues increased 17.3% compared to the same period last year, reaching R$528.6 million. - Adjusted EBITDA increased 3.2% compared to the same period last year, reaching R$19.4 million. - Net income increased 52.5% compared to the same period last year, reaching R$12.7 million.

2. 4Q06 Earnings Results

3. HIGHLIGHTS FOR THE PERIOD
– Opening of the new Distribution Center in Pernambuco
– R$ 570.0 million market in Pernambuco (PE) and R$ 212.0 million in
Paraíba(PB) will be supported by Profarma
– R$528.6 million Gross Revenues, up 17.3% in comparison with 4Q05
– Adjusted EBITDA registered 3.2% increase related to 4Q05, reaching
R$ 19.4 million on 4Q06
_ R$ 12.7 million Net Income on 4Q06, 52.5% increase in comparison with
with 4Q05
3

4. Gross Revenue Evolution
Em R$ MM
36.4%
1,967.7
17.3%
1,725.2
1,442.9
529.4 528.6
450.8 471.8
437.9
4Q05 1Q06 2Q06 3Q06 4Q06 2004 2005 2006
4

5. Gross Revenue Breakdown
R$ thousands 4Q05 4Q06 Variation % 2005 2006 Variation %
Branded 312.0 347.8 11.4% 1,183.9 1,332.4 12.5%
Generics 28.0 36.5 30.7% 103.1 112.6 9.2%
OTC 77.2 96.1 24.5% 306.6 349.5 14.0%
Health and Beauty Products 27.2 36.4 33.8% 98.7 132.1 33.8%
Others 6.2 11.6 87.1% 31.8 39.8 25.1%
Services Rendered 0.3 0.3 3.4% 1.1 1.3 25.0%
Total 450.8 528.6 17.2% 1,725.2 1,967.7 14.1%
5

6. Market Share (%)
9.6 9.6
9.3
8.4
2003 2004 2005 2006
Source: IMS
6

7. Adjusted EBITDA
and Adjusted EBITDA Margin
In R$ MM and as a % Net Revenues
68.1
18.8 19.1 19.4 61.6
16.8
47.1
12.7
4.7% 35.7
4.0% 4.1% 4.2% 4.1% 3.9%
3.6% 3.7%
3.3%
4Q05 1Q06 2Q06 3Q06 4Q06 2003 2004 2005 2006
7

8. Net Income
In R$ MM
2,1%
53.0%
32.5%
21.6
16.3
12.7
8.3
(3.6)
(12.5)
4Q05 4Q06 2005 2006
Net Income
Adjusted Net Income
8

9. ROE – Return on Equity
38.4%
38.2%
36.5%
2004 2005 2006*
ROE = (Net Income + Tax Incentives) / Shareholders Equity (period beginning)
* IPO Expenses Ajusted
9

10. Operating Expenses
TOTAL OPERATING EXPENSES
5.86% 6.38% 5.86% 7.11% 6.16%
4Q05 3Q06 4Q06 2005 2006
10

11. Cash Flow
Cash Flows
R$ Thousands 4Q05 4Q06 2005 2006
Cash Flow (used in)/provided by Operating Activities 13.4 (14.8) (15.6) (98.5)
Internal Cash Generation 12.4 18.5 31.1 37.7
Operating Assets Variation 1.0 (33.3) (46.7) (136.2)
Cash Flow (used in)/provided by Investing Activities 0.3 (2.2) (2.0) (4.4)
Cash Flow (used in)/provided by Financing Activities (19.5) 201.6 19.3 292.4
Increase (Decrease) in Cash (5.8) 184.6 1.7 189.5
11

12. Indebtedness
Net Debt (R$MM) and Net Debt / Ebitda
1.8 1.7
1.4
104.1
82.8
50.1
2003 2004 2005 2006
-1.0
-64.7
12

13. Indebtedness Position
Em R$ MM
104.2
79%
72.7
59.0 60.9
66%
100% 69% 38.1
26.9 27.4
34%
31% 21%
0.0
2003 2004 2005 2006
Short Term Long Term
13

14. Capex
4,7 0.3%
0.2% 0.7
0.2% 0.2%
1.0
2,5
1,9 2,0 0.1
0.1 0.2 1.0
0.5 0.9 3.1
1.2 1.4
0.9
2003 2004 2005 2006
Inst, Maq and Equip IT Others % Net Revenue
14

15. Operanting Indicators
Service Level
(units served / units requested)
92.9%
90.8%
89.9%
88.7%
87.7%
86.6%
2003 2004 2005 2006 9M06 4Q06
15

16. Operanting Indicators
Logistics E.P.M. Logístics – Productivity
(Errors per Million) (units shipped / worked hours)
89.8 89.6
89.4
250
231
202
2004 2005 2006 2004 2005 2006
16

17. Operanting Indicators
Sale per Square Meter Average Sale per DC
245,9
47.9 215.7
42.1
35.2
180.4
157.4
28.8
2003 2004 2005 2006 2003 2004 2005 2006
. In R$ m (Gross Revenue) .In R$ MM (Gross Revenue)
17

18. Operanting Indicators
Average Invoice Sale Through eletronic Orders
857.2 43,8%
802.9 782.3 40.0%
35.0%
2004 2005 2006 2004 2005 2006
. R$ % on total sale
18

19. Operanting Indicators
Gross Revenue per Employee Ebitda per Employee
1419,7 49,1
44,5
1246,6
980,9 32,0
889,1 28,8
2003 2004 2005 2006 2003 2004 2005 2006
In R$ MM In R$ MM
19

20. Capital Markets
179
175
171
167
163
159
155
151
147 150,8
143
139
135
131
127
123 114,6
119
115
111
107 110,9
103
99
95
25-out 1-nov 9-nov 17-nov 27-nov 4-dez 11-dez 18-dez 26-dez 4-jan 11-jan 18-jan 26-jan 2-fev 9-fev 16-fev 27-fev
Ibovespa IGC Profarma
20

21. IR Contact:
Max Fischer
CFO and IRO
Ana Paula Ribeiro
IR Coordinator
phone.: 55 (21) 4009 0276
E-mail: ri@profarma.com.br
www.profarma.com.br/ri