Multiplus apres 3_t13_eng
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Multiplus reported its 3Q13 results, highlighting 9.1% growth in gross billings and 11.9 million members, a 13% increase over 3Q12. The company achieved over R$135 million in cash generation for the quarter. Non-air redemptions grew 13.9% over 2Q13. Multiplus continued expanding its network of partners and offering exclusive deals with banks. The results demonstrated the company's solid financial performance and its focus on maximizing shareholder returns.
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Multiplus apres 3_t13_eng
- 2. Disclaimer This notice may contain estimates for future events. These estimates merely reflect the expectations of the Company’s management, and involve risks and uncertainties. The Company is not responsible for investment operations or decisions taken based on information contained in this communication. These estimates are subject to changes without prior notice. This material has been prepared by Multiplus S.A. (“Multiplus“ or the “Company”) includes certain forwardlooking statements that are based principally on Multiplus’ current expectations and on projections of future events and financial trends that currently affect or might affect Multiplus’ business, and are not guarantees of future performance. They are based on management’s expectations that involve a number of business risks and uncertainties, any of each could cause actual financial condition and results of operations to differ materially from those set out in Multiplus’ forward-looking statements. Multiplus undertakes no obligation to publicly update or revise any forward looking statements. This material is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise it does not give and should not be treated as giving investment advice. It has no regard to the specific investment objectives, financial situation or particular needs of any recipient. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. 2
- 3. 3Q13 Highlights 9.1% growth in Gross Billings vs 3Q12 More than R$ 135 million in cash generetion in 3Q13 13.9% growth in non-air redemptions vs 2Q13 11.9 million members 13% growth vs 3Q12 3
- 4. Network growth More than 11.9 million members We reached 466 partners (coalition, accrual and redemption) Members, in mln 10.5 10.9 11.3 11.6 SMEs 11.9 500 450 450 Main partners 446 Total 400 369 466 400 383 350 350 300 300 250 250 230 200 200 150 150 100 100 50 0 50 3Q12 4Q12 1Q13 2Q13 3Q13 3Q12 4Q12 1Q13 NOTE: SMEs refers to small and medium sized enterprises 4 2Q13 3Q13
- 5. Solid relationship with banks: exclusive offers Exclusive offer promoted by Bank A Volume of points redeemed 575% Exclusive offer by Bank A BB Outros Itaú Others Santander Bank A Bradesco 4-Sep 5-Sep 6-Sep 7-Sep 8-Sep 9-Sep D+0 5 10-Sep 11-Sep D+4 12-Sep 13-Sep 14-Sep 15-Sep
- 6. Restaurant Week and Children's Day: marketing as an experimentation tool 1,000 LUNCH Multiplus points 1,600 Multiplus points 6 DINNER
- 7. Marketing communication presents some redemption offers to members 7
- 8. A new relationship tool between Multiplus and members 8
- 9. Solid Gross Billings growth R$ 536.1 mln in Gross Billings R$ 470.9 mln in Net Revenue R$ mln R$ mln & bln points 536.1 491.4 492.0 492.1 470.9 500.9 430.9 378.4 373.4 398.6 20.5 19.4 16.7 3Q12 4Q12 1Q13 2Q13 3Q13 3Q12 15.9 4Q12 Net Revenue 9 16.4 1Q13 2Q13 Points Redeemed 3Q13
- 10. Gradual breakage decline besides non-air redemptions increase Non-air redemptions reached Breakage rate: a record level in 3Q13 gradual decline as expected 12 months average, in % Non-air redemptions, in % 13.9% 22.0% 21.0% 19.9% 19.6% 19.1% 1Q13 2Q13 3Q13 7.0% 6.3% 6.4% 5.3% 4.0% 4.3% 2.6% 2.9% 1.5% 0.6% 1Q11 3Q11 10 1Q12 3Q12 1Q13 3Q13 3Q12 4Q12
- 11. Delivering Results R$ 135.9 mln in FCF* R$ 62.2 mln in Net Income RS mln RS mln 135.9 66.6 62.2 124.5 57.4 52.9 79.0 3Q12 4Q12 84.0 1Q13 46.8 88.9 2Q13 3Q13 *Excluding Dividends, Interest on Capital and variations of Prepaid Expenses and Capital (4Q12 and 1Q13 are adjusted with R$ 71.3 of anticipated settlement in Accounts Payable) 11 3Q12 4Q12 1Q13 2Q13 3Q13
- 12. Maximizing Shareholders Return Pre-purchase of air tickets Dividends 861.3 Balance in Sep/2013 R$ 282.2 million Multiplus’ board of directors approved R$ 500 million fixed limit for prepurchase of air tickets until 2013 222.4 158,0 112.3 2010 2011 2012 *2011 includes a R$ 600 million capital reduction 12 2013 YTD
- 13. High corporate governance standards 1 2 Novo Mercado (New Market) Related Parties Subjects Special Committee 100% tag along rights Independent members 3 Ordinary share only 4 30% of independent board members If rejected The proposal needs majority Board approval 5 If approved The proposal needs unanimity Board approval Special Committee Special Committee: Audit, Finance, Governance and Related Parties Committee 13
- 14. Thank you! Contact IR Team +55 11 5105-1847 invest@pontosmultiplus.com.br www.pontosmultiplus.com.br/ir Ronald Domingues Ivan Bonfanti Filipe Scalco Fernanda Camiña