1) Hering reported strong financial results in 2009 with total gross revenue increasing 39.4% and EBITDA growing 71.9% to R$154 million.
2) The company expanded its store network opening 46 Hering Stores and 15 PUC Stores in 2009.
3) Same-store sales increased 27.2% in 2009 and 32.6% in the fourth quarter driven by increased store traffic.
4) Gross margins improved with the gross margin excluding depreciation reaching 53.1% in the fourth quarter.
5) The company outlined plans to further expand the Hering Store network to 405 stores by 2012 focused on
In 3 sentences:
1) Hering reported strong 3Q11 results with 34.6% revenue growth and EBITDA margin expansion of 3.2 percentage points to 27.7%.
2) Same-store sales growth for Hering Stores slowed to 9.0% due to higher average sales ticket, while the store count increased by 89 stores year-over-year.
3) Management expects continued growth for the Hering brand and children's lines, along with margin expansion in 4Q11 from lower costs and operating leverage.
This document summarizes a conference call discussing the financial results of Cia. Hering for the fourth quarter and full year of 2010. Some key highlights include:
- Gross sales grew 41.6% in 4Q10 and 40.8% for the full year. All brands experienced double-digit sales growth.
- EBITDA was R$276.5 million for 2010 with a margin of 27.3%, up from 21.4% the previous year.
- Net profit grew 101.6% in 4Q10 and 54.2% for the year due to improved operations and lower taxes.
- The Hering store chain opened 10 more stores than planned, ending 2010
The document summarizes the company's 2Q11 conference call. It reported strong revenue growth of 37.9% compared to 2Q10, with double-digit sales increases across all brands. EBITDA grew 41.2% with margins expanding 0.8 percentage points. Net profit increased 80.8% compared to 2Q10. The company opened 83 new stores since 2Q10. Same-store sales grew 16.3% driven by increased traffic and higher average sales prices. Capex increased significantly due to investments in stores, IT and industrial projects. Cash flow was positively impacted by EBITDA growth despite higher working capital needs.
The document summarizes Cia. Hering's 2Q10 conference call. Some key highlights include gross revenue growing 46.5% to R$306.7 million and EBITDA margin reaching 27.4% at R$69.3 million. The company plans to expand its Hering store chain to 325 stores by end of 2010. Cia. Hering also revised its 2010 capex forecast upwards to R$86.7 million to meet market demands. The outlook projects further growth in total sales and same-store sales for Hering stores, as well as expanding into the children's market.
Hering reported its 3Q12 results. Key highlights included:
- Gross revenue increased 0.5% to R$388.4 million.
- EBITDA was R$74.4 million with a margin of 23.0%, down from 27.6% in 3Q11.
- Net income was R$54.6 million, down from R$63.7 million in 3Q11.
- The Hering store chain grew by 16 stores and sales increased 17.8% to R$303 million.
- Capex was R$19.9 million as the company opened new
Recticel reported financial results for fiscal year 2011. Net sales increased 2.2% to €1.378 billion due to growth in insulation sales, though raw material costs rose significantly. Earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 14.8% to €88.6 million due to higher raw material prices. However, the net result increased 20.6% to €17.4 million. Overall, Recticel remained on track with its plans despite economic challenges, with stable debt levels and improved return on capital employed.
- New home listings in Coon Rapids, Minnesota decreased 38.3% in April 2012 compared to April 2011, while closed home sales increased 18.8%. The median home sales price rose 18.5% to $129,000.
- For the year to date period of January through April, new listings decreased 21.4% from 2011, while closed sales rose 22.5%. However, the median sales price fell 3.6% to $110,000.
- Inventory of homes for sale dropped 42.3% in April 2012 compared to April 2011, lowering the months supply of inventory to 3.2 months from 7.5 months the prior year.
The document discusses Cia. Hering's 4Q08 and full year 2008 operating performance. Some key highlights include gross revenue increasing 53.0% in the domestic market in 4Q08, with Hering brand sales rising 63.7%. For the full year, domestic market revenue grew 52.5% led by a 64.3% increase in Hering brand sales. The number of Hering stores increased by 27.1% in 2008, with same store sales growth of 32.4%. Adjusted EBITDA margin expanded to 31.6% in 4Q08 from 19.6% in 4Q07.
In 3 sentences:
1) Hering reported strong 3Q11 results with 34.6% revenue growth and EBITDA margin expansion of 3.2 percentage points to 27.7%.
2) Same-store sales growth for Hering Stores slowed to 9.0% due to higher average sales ticket, while the store count increased by 89 stores year-over-year.
3) Management expects continued growth for the Hering brand and children's lines, along with margin expansion in 4Q11 from lower costs and operating leverage.
This document summarizes a conference call discussing the financial results of Cia. Hering for the fourth quarter and full year of 2010. Some key highlights include:
- Gross sales grew 41.6% in 4Q10 and 40.8% for the full year. All brands experienced double-digit sales growth.
- EBITDA was R$276.5 million for 2010 with a margin of 27.3%, up from 21.4% the previous year.
- Net profit grew 101.6% in 4Q10 and 54.2% for the year due to improved operations and lower taxes.
- The Hering store chain opened 10 more stores than planned, ending 2010
The document summarizes the company's 2Q11 conference call. It reported strong revenue growth of 37.9% compared to 2Q10, with double-digit sales increases across all brands. EBITDA grew 41.2% with margins expanding 0.8 percentage points. Net profit increased 80.8% compared to 2Q10. The company opened 83 new stores since 2Q10. Same-store sales grew 16.3% driven by increased traffic and higher average sales prices. Capex increased significantly due to investments in stores, IT and industrial projects. Cash flow was positively impacted by EBITDA growth despite higher working capital needs.
The document summarizes Cia. Hering's 2Q10 conference call. Some key highlights include gross revenue growing 46.5% to R$306.7 million and EBITDA margin reaching 27.4% at R$69.3 million. The company plans to expand its Hering store chain to 325 stores by end of 2010. Cia. Hering also revised its 2010 capex forecast upwards to R$86.7 million to meet market demands. The outlook projects further growth in total sales and same-store sales for Hering stores, as well as expanding into the children's market.
Hering reported its 3Q12 results. Key highlights included:
- Gross revenue increased 0.5% to R$388.4 million.
- EBITDA was R$74.4 million with a margin of 23.0%, down from 27.6% in 3Q11.
- Net income was R$54.6 million, down from R$63.7 million in 3Q11.
- The Hering store chain grew by 16 stores and sales increased 17.8% to R$303 million.
- Capex was R$19.9 million as the company opened new
Recticel reported financial results for fiscal year 2011. Net sales increased 2.2% to €1.378 billion due to growth in insulation sales, though raw material costs rose significantly. Earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 14.8% to €88.6 million due to higher raw material prices. However, the net result increased 20.6% to €17.4 million. Overall, Recticel remained on track with its plans despite economic challenges, with stable debt levels and improved return on capital employed.
- New home listings in Coon Rapids, Minnesota decreased 38.3% in April 2012 compared to April 2011, while closed home sales increased 18.8%. The median home sales price rose 18.5% to $129,000.
- For the year to date period of January through April, new listings decreased 21.4% from 2011, while closed sales rose 22.5%. However, the median sales price fell 3.6% to $110,000.
- Inventory of homes for sale dropped 42.3% in April 2012 compared to April 2011, lowering the months supply of inventory to 3.2 months from 7.5 months the prior year.
The document discusses Cia. Hering's 4Q08 and full year 2008 operating performance. Some key highlights include gross revenue increasing 53.0% in the domestic market in 4Q08, with Hering brand sales rising 63.7%. For the full year, domestic market revenue grew 52.5% led by a 64.3% increase in Hering brand sales. The number of Hering stores increased by 27.1% in 2008, with same store sales growth of 32.4%. Adjusted EBITDA margin expanded to 31.6% in 4Q08 from 19.6% in 4Q07.
This document contains a summary of Cia. Hering's 2Q09 performance and business outlook:
- Gross revenue grew 48.9% in the domestic market and Hering brand sales increased 57.7%. Same-store sales grew 29.3% and EBITDA margin increased 4.1 percentage points.
- 14 new Hering stores and 2 new PUC stores were opened in 2Q09. The expansion plan aims to open 81 new stores by the end of 2010.
- Capex was invested in store openings, remodels, and industrial equipment upgrades. Financial results improved due to exchange rate variations and derivative reversals.
- Shareholders were paid dividends and interest on
- Hering reported strong financial results for 1Q12, with gross revenue up 15.7% and net profit increasing 37.6% year-over-year.
- Double-digit sales growth was achieved for the Hering, Hering Kids and PUC brands.
- The number of Hering stores increased to 437, with 87 new openings since 1Q11.
- EBITDA was R$90.0 million, with an EBITDA margin of 27.5%.
- Management expects continued challenges in the market but
Moe Nozari, Executive Vice President of 3M's Consumer & Office Business, discusses growth opportunities in this business segment. The division has a broad portfolio of well-known brands and has experienced long-term sales and profit growth. Nozari outlines key growth drivers including new product platforms, expanding core product lines, partnering with key accounts, and increasing international penetration. Examples of new product lines with growth potential highlighted are Filtrete air filters and purifiers, Command hooks, and Scotch cutting tools.
Best Buy executives Brad Anderson and Darren Jackson presented at a Lehman Brothers retail seminar on May 2, 2006 about Best Buy's focus on customer centricity and growth strategies. Best Buy aims to transform its core business through an integrated customer-centric operating model while enhancing the customer experience through services like Geek Squad and expanding into new markets like China and small businesses. The company's priorities are transforming its core business, enhancing the customer experience, and extending its business into new markets to drive top-line and bottom-line growth.
The summary is:
[1] Hering reported strong growth in the third quarter of 2009 with total gross revenue increasing 34.7% and domestic market revenue growing 40.3%.
[2] EBITDA margin expanded 5.5 percentage points to 21.9% due to increased sales and fixed cost leverage.
[3] The company continues expanding
wyeth Cowen and Company Annual Health Care Conferencefinance12
Geno Germano, President of U.S. and General Manager of Wyeth Pharmaceuticals, presented at the Cowen Health Care Conference on March 13, 2007. He discussed Wyeth's strong financial growth in 2006, new commercial models being implemented, and upcoming FDA submissions including Pristiq for depression and menopausal symptoms. Germano emphasized building a diverse and stronger company through top line growth, cost management, and outpacing revenue growth with bottom line growth.
Localiza reported strong financial results for the first quarter of 2007, with net income increasing 53.4% compared to the first quarter of 2006. EBITDA from car rentals increased 14.9 million or 30% due to growth in revenue and margins. Overall market share increased to 20.5% as Localiza grew revenues at a rate 2.9 times faster than the overall car rental market between 2004-2006. Cash generation was robust at R$228.5 million after adjusting for a reduction in debt from automakers. Fleet size continued to grow significantly with a net investment of R$242 million and over 10,000 additional cars.
Balrampur Chini Mills' 2QSY2010 results were below expectations due to higher cane costs and increased contribution from mandatory levy sugar quotas. Total sales grew 32% to Rs421 crore driven by strong sugar prices, though margins declined significantly due to raw material costs and levy quotas. The analyst maintains a Neutral rating due to fair valuations and expects sugar prices and industry profitability to stabilize in the coming year.
ITC posted strong quarterly results with top-line growth of 28% above estimates, driven by growth in cigarettes, agriculture, and non-cigarette FMCG. However, earnings growth was below estimates at 27% due to margin contraction from lower margins in agriculture. Cigarette volumes grew around 8-9% while margins expanded. The analyst maintains an accumulate rating and revises estimates upward to reflect stronger non-cigarette revenue and lower losses, while maintaining cigarette growth outlook.
ArvinMeritor had a challenging fiscal year 2001 due to economic downturn and declining automotive sales. However, the company has taken steps to strengthen its position such as aggressively cutting costs, improving quality, and focusing on core competencies. While sales and profits decreased from the prior year, the company generated strong operating cash flow through emphasis on working capital reductions and debt paydown. Looking forward, ArvinMeritor is well positioned in key markets and believes systems integration will be an area of growth opportunity.
This presentation includes forward-looking statements about the company's future performance that are subject to risks and uncertainties. It summarizes the company's financial and operational highlights for 2007. Net income increased 11.6% over 2006. Consolidated EBITDA reached R$1,123 million, growing 4.6% over 2006. Generation segment EBITDA grew significantly due to increased capacity from new plants coming online. Distributed energy volumes grew 4.5% while manageable costs grew less than inflation.
Teleconferência de resultados 3 t03 (versão inglês)Braskem_RI
Braskem reported strong financial results for the first nine months of 2003, with net revenues increasing 36% and EBITDA growing 43% compared to the same period in 2002. Operating margins improved as average capacity utilization rates rose and sales volumes increased for most products. Braskem also reduced debt through refinancing and expects synergies from recent acquisitions to further boost profitability going forward. The company is well positioned to benefit from anticipated growth in the petrochemical sector and domestic Brazilian market starting in 2004.
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.
Profarma is a Brazilian pharmaceutical wholesale distributor that had its IPO in 3Q06. Some key highlights from the document:
1) In 3Q06, Profarma reported gross revenues growth of 16.4% over 3Q05 and net income growth of 20.8%. Adjusted EBITDA grew 11.4% year-over-year.
2) Operating expenses as a percentage of net revenues declined across all categories compared to the prior year periods.
3) Since its IPO, Profarma's stock price has generally tracked the broader Brazilian market, with some volatility.
Eagle Materials Inc. reported financial results for the fourth quarter and fiscal year 2009. Revenues declined 25% to $108.9 million for the quarter and 20% to $602.2 million for the fiscal year. However, operating earnings increased 11% to $20.4 million for the quarter due to lower costs, despite a 41% decline to $108 million for the fiscal year. Earnings per share increased 129% to $0.16 for the quarter but declined 55% to $0.95 for the fiscal year. Wallboard and cement revenues and operating earnings declined for both periods compared to the prior year. Cash flow from operations declined 47% for the fiscal year.
Stora Enso is a forest products company that produces paper, board, and wood products. It has approximately 29,000 employees across 35+ countries. In 2008, Stora Enso generated €11 billion in sales. It has production plants throughout Europe and Asia. The company's business areas include publication paper, fine paper, packaging, and wood products. Stora Enso aims to be an innovative renewable materials company and reports key financial and operational data to stakeholders.
Asian Paints reported strong quarterly results that beat estimates. Revenue grew 25% year-over-year to Rs. 1,830 crore, driven by 18-20% volume growth and 2-3% price-led growth. Earnings grew 26% to Rs. 222 crore due to operating leverage, although gross margins contracted due to rising input costs. The analyst maintains an Accumulate rating and revised target price of Rs. 2,773, expecting sustained 15.5% volume growth, price hikes of 8%, and operating margins around 18%.
This document provides a summary of aviation activity at Ben Gurion International Airport in 2015. Some key details include:
- Over 16 million total passengers passed through the airport in 2015, a 9.2% increase from 2014. International passenger traffic increased 9.86% while domestic passenger traffic decreased 5.08%.
- Total aircraft traffic in 2015 was over 118,000 flights, a 5.47% increase from the previous year. International aircraft traffic rose 6.49% while domestic aircraft traffic fell 9%.
- Cargo handling totaled over 287,000 tons in 2015, up 2.53% from 2014.
- The busiest routes were to/from Paris and the busiest country was
This document summarizes healthcare utilization and cost trends for GE employees between 2007-2014. It shows that while GE's costs have grown only modestly, employee costs and utilization of healthcare services have declined significantly. Specifically, hospital admissions, outpatient radiology procedures, and ER visits have all declined substantially for both salaried and hourly employees during this period. However, employee pharmacy costs and the number meeting deductibles and out-of-pocket maximums have increased greatly, indicating a large shift in costs from GE to employees. The document also critiques GE's HRA program for leaving significant funds unused each year and failing to adequately explain the system to employees.
This document is the 2013 statistical pocketbook of Russia published by Rosstat, the Russian federal state statistics service. It provides concise information and data on Russia's social, demographic and economic development in 2012 compared to 2011. Key indicators covered include population statistics, labor market trends, living standards, housing, economic activity by sector and region. All data is from Rosstat and other Russian government agencies and some 2012 figures are preliminary.
Magnit presented operational results for 1Q2015. It operates over 10,000 stores across Russia as the largest food retailer by revenue and number of stores. Key metrics included 28-32% sales growth in rubles and EBITDA margin of 9.5-11% for 2015. The presentation reviewed each store format including convenience stores, hypermarkets, Magnit Family stores, and drogerie stores. Financial results for 2014 showed over 30% revenue and net income growth with gross and EBITDA margins of 28.9% and 11.3%, respectively.
This document contains a summary of Cia. Hering's 2Q09 performance and business outlook:
- Gross revenue grew 48.9% in the domestic market and Hering brand sales increased 57.7%. Same-store sales grew 29.3% and EBITDA margin increased 4.1 percentage points.
- 14 new Hering stores and 2 new PUC stores were opened in 2Q09. The expansion plan aims to open 81 new stores by the end of 2010.
- Capex was invested in store openings, remodels, and industrial equipment upgrades. Financial results improved due to exchange rate variations and derivative reversals.
- Shareholders were paid dividends and interest on
- Hering reported strong financial results for 1Q12, with gross revenue up 15.7% and net profit increasing 37.6% year-over-year.
- Double-digit sales growth was achieved for the Hering, Hering Kids and PUC brands.
- The number of Hering stores increased to 437, with 87 new openings since 1Q11.
- EBITDA was R$90.0 million, with an EBITDA margin of 27.5%.
- Management expects continued challenges in the market but
Moe Nozari, Executive Vice President of 3M's Consumer & Office Business, discusses growth opportunities in this business segment. The division has a broad portfolio of well-known brands and has experienced long-term sales and profit growth. Nozari outlines key growth drivers including new product platforms, expanding core product lines, partnering with key accounts, and increasing international penetration. Examples of new product lines with growth potential highlighted are Filtrete air filters and purifiers, Command hooks, and Scotch cutting tools.
Best Buy executives Brad Anderson and Darren Jackson presented at a Lehman Brothers retail seminar on May 2, 2006 about Best Buy's focus on customer centricity and growth strategies. Best Buy aims to transform its core business through an integrated customer-centric operating model while enhancing the customer experience through services like Geek Squad and expanding into new markets like China and small businesses. The company's priorities are transforming its core business, enhancing the customer experience, and extending its business into new markets to drive top-line and bottom-line growth.
The summary is:
[1] Hering reported strong growth in the third quarter of 2009 with total gross revenue increasing 34.7% and domestic market revenue growing 40.3%.
[2] EBITDA margin expanded 5.5 percentage points to 21.9% due to increased sales and fixed cost leverage.
[3] The company continues expanding
wyeth Cowen and Company Annual Health Care Conferencefinance12
Geno Germano, President of U.S. and General Manager of Wyeth Pharmaceuticals, presented at the Cowen Health Care Conference on March 13, 2007. He discussed Wyeth's strong financial growth in 2006, new commercial models being implemented, and upcoming FDA submissions including Pristiq for depression and menopausal symptoms. Germano emphasized building a diverse and stronger company through top line growth, cost management, and outpacing revenue growth with bottom line growth.
Localiza reported strong financial results for the first quarter of 2007, with net income increasing 53.4% compared to the first quarter of 2006. EBITDA from car rentals increased 14.9 million or 30% due to growth in revenue and margins. Overall market share increased to 20.5% as Localiza grew revenues at a rate 2.9 times faster than the overall car rental market between 2004-2006. Cash generation was robust at R$228.5 million after adjusting for a reduction in debt from automakers. Fleet size continued to grow significantly with a net investment of R$242 million and over 10,000 additional cars.
Balrampur Chini Mills' 2QSY2010 results were below expectations due to higher cane costs and increased contribution from mandatory levy sugar quotas. Total sales grew 32% to Rs421 crore driven by strong sugar prices, though margins declined significantly due to raw material costs and levy quotas. The analyst maintains a Neutral rating due to fair valuations and expects sugar prices and industry profitability to stabilize in the coming year.
ITC posted strong quarterly results with top-line growth of 28% above estimates, driven by growth in cigarettes, agriculture, and non-cigarette FMCG. However, earnings growth was below estimates at 27% due to margin contraction from lower margins in agriculture. Cigarette volumes grew around 8-9% while margins expanded. The analyst maintains an accumulate rating and revises estimates upward to reflect stronger non-cigarette revenue and lower losses, while maintaining cigarette growth outlook.
ArvinMeritor had a challenging fiscal year 2001 due to economic downturn and declining automotive sales. However, the company has taken steps to strengthen its position such as aggressively cutting costs, improving quality, and focusing on core competencies. While sales and profits decreased from the prior year, the company generated strong operating cash flow through emphasis on working capital reductions and debt paydown. Looking forward, ArvinMeritor is well positioned in key markets and believes systems integration will be an area of growth opportunity.
This presentation includes forward-looking statements about the company's future performance that are subject to risks and uncertainties. It summarizes the company's financial and operational highlights for 2007. Net income increased 11.6% over 2006. Consolidated EBITDA reached R$1,123 million, growing 4.6% over 2006. Generation segment EBITDA grew significantly due to increased capacity from new plants coming online. Distributed energy volumes grew 4.5% while manageable costs grew less than inflation.
Teleconferência de resultados 3 t03 (versão inglês)Braskem_RI
Braskem reported strong financial results for the first nine months of 2003, with net revenues increasing 36% and EBITDA growing 43% compared to the same period in 2002. Operating margins improved as average capacity utilization rates rose and sales volumes increased for most products. Braskem also reduced debt through refinancing and expects synergies from recent acquisitions to further boost profitability going forward. The company is well positioned to benefit from anticipated growth in the petrochemical sector and domestic Brazilian market starting in 2004.
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.
Profarma is a Brazilian pharmaceutical wholesale distributor that had its IPO in 3Q06. Some key highlights from the document:
1) In 3Q06, Profarma reported gross revenues growth of 16.4% over 3Q05 and net income growth of 20.8%. Adjusted EBITDA grew 11.4% year-over-year.
2) Operating expenses as a percentage of net revenues declined across all categories compared to the prior year periods.
3) Since its IPO, Profarma's stock price has generally tracked the broader Brazilian market, with some volatility.
Eagle Materials Inc. reported financial results for the fourth quarter and fiscal year 2009. Revenues declined 25% to $108.9 million for the quarter and 20% to $602.2 million for the fiscal year. However, operating earnings increased 11% to $20.4 million for the quarter due to lower costs, despite a 41% decline to $108 million for the fiscal year. Earnings per share increased 129% to $0.16 for the quarter but declined 55% to $0.95 for the fiscal year. Wallboard and cement revenues and operating earnings declined for both periods compared to the prior year. Cash flow from operations declined 47% for the fiscal year.
Stora Enso is a forest products company that produces paper, board, and wood products. It has approximately 29,000 employees across 35+ countries. In 2008, Stora Enso generated €11 billion in sales. It has production plants throughout Europe and Asia. The company's business areas include publication paper, fine paper, packaging, and wood products. Stora Enso aims to be an innovative renewable materials company and reports key financial and operational data to stakeholders.
Asian Paints reported strong quarterly results that beat estimates. Revenue grew 25% year-over-year to Rs. 1,830 crore, driven by 18-20% volume growth and 2-3% price-led growth. Earnings grew 26% to Rs. 222 crore due to operating leverage, although gross margins contracted due to rising input costs. The analyst maintains an Accumulate rating and revised target price of Rs. 2,773, expecting sustained 15.5% volume growth, price hikes of 8%, and operating margins around 18%.
This document provides a summary of aviation activity at Ben Gurion International Airport in 2015. Some key details include:
- Over 16 million total passengers passed through the airport in 2015, a 9.2% increase from 2014. International passenger traffic increased 9.86% while domestic passenger traffic decreased 5.08%.
- Total aircraft traffic in 2015 was over 118,000 flights, a 5.47% increase from the previous year. International aircraft traffic rose 6.49% while domestic aircraft traffic fell 9%.
- Cargo handling totaled over 287,000 tons in 2015, up 2.53% from 2014.
- The busiest routes were to/from Paris and the busiest country was
This document summarizes healthcare utilization and cost trends for GE employees between 2007-2014. It shows that while GE's costs have grown only modestly, employee costs and utilization of healthcare services have declined significantly. Specifically, hospital admissions, outpatient radiology procedures, and ER visits have all declined substantially for both salaried and hourly employees during this period. However, employee pharmacy costs and the number meeting deductibles and out-of-pocket maximums have increased greatly, indicating a large shift in costs from GE to employees. The document also critiques GE's HRA program for leaving significant funds unused each year and failing to adequately explain the system to employees.
This document is the 2013 statistical pocketbook of Russia published by Rosstat, the Russian federal state statistics service. It provides concise information and data on Russia's social, demographic and economic development in 2012 compared to 2011. Key indicators covered include population statistics, labor market trends, living standards, housing, economic activity by sector and region. All data is from Rosstat and other Russian government agencies and some 2012 figures are preliminary.
Magnit presented operational results for 1Q2015. It operates over 10,000 stores across Russia as the largest food retailer by revenue and number of stores. Key metrics included 28-32% sales growth in rubles and EBITDA margin of 9.5-11% for 2015. The presentation reviewed each store format including convenience stores, hypermarkets, Magnit Family stores, and drogerie stores. Financial results for 2014 showed over 30% revenue and net income growth with gross and EBITDA margins of 28.9% and 11.3%, respectively.
Foreign direct investment in India's retail sector has grown significantly in recent years. Major global retailers like Walmart, Carrefour and Tesco have established operations in India through cash-and-carry stores or joint ventures. FDI policy now allows 100% FDI in single-brand retail and 51% in multi-brand retail. Retail giants like Reliance, Future Group and Tata have expanded rapidly across India in response to growing consumer demand and opportunities from foreign investment. The retail sector is divided into organized and unorganized segments, and is undergoing rapid changes with large-scale modern retail transforming consumer shopping habits.
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Cisco held a Q3 Fiscal Year 2015 conference call to discuss financial results and business trends. Key highlights included:
- Revenues increased 5% year-over-year to $12.1 billion, and non-GAAP EPS grew 6% to $0.54.
- Switching revenue grew 6% driven by strong demand for the Application Centric Infrastructure portfolio. Data center revenue increased 21%.
- Geographically, Americas and EMEA product orders increased 2% each while APJC returned to 1% growth. Enterprise orders grew 7% and public sector orders grew 7%.
- For Q3, Cisco generated $3 billion in operating cash flow and returned $2.1
This document provides an introduction to green buildings, defining sustainability and green buildings. It discusses the environmental impacts of construction and building operations, including energy and water usage. Key issues and benefits of green buildings are outlined such as improved air quality, energy conservation, and financial benefits from reduced operating costs. The US Green Building Council and LEED certification are introduced as leading standards for green building design and certification.
The document outlines 6 steps business owners can take to improve their business, including properly planning goals and actions, monitoring financial metrics, managing cash flow, organizing operations, managing growth, and planning for transition. It then discusses each of these steps in more detail, providing advice on tasks like establishing a vision and measurable goals, regularly reviewing financial statements and key ratios, using cash flow forecasts to manage cash needs, and periodically evaluating the business for improvement opportunities. The overall message is that business owners should follow a structured process to effectively operate and grow their company over time.
1) The document discusses techniques for mining data from the World Wide Web, including identifying authoritative web pages through link analysis algorithms like HITS and PageRank, mining multimedia data and web images through associated text and links, automatically classifying web documents, and analyzing web server logs to discover user access patterns through web usage mining.
2) It describes how web pages can be partitioned into semantic blocks and how block-level link analysis can be used to identify related images and organize them, as well as reduce noise in automatic web document classification.
3) Methods of web usage mining discussed include cleaning, condensing, and transforming log data to generate multidimensional views of user access patterns that can help discover customers, markets
El documento presenta los resultados electorales de tres representantes: Francis obtuvo el 29,17% de los votos, Rosemberg el 33,33% y Carlos el 37,50%.
The San Mateo Union High School District technology plan covers 2012-2015. It aims to enhance the use of technology to improve teaching, learning, assessment, and communication. A committee with representatives from teachers, administrators, parents, and staff developed the plan based on feedback from stakeholders. The plan supports the district's goals of student mastery of standards and achievement for all students.
Un estudio encontró una ligera disminución en el número de personas por hogar que fueron víctimas de robos y asaltos en el último semestre en Chile. Aunque las cifras han bajado de 41.7% a 38.3%, más de la mitad de las víctimas reportaron haber sido victimizadas más de una vez. Las comunas de El Bosque, Conchalí y Recoleta en la Región Metropolitana tienen las tasas más altas de robos.
Brasil es la quinta economía más grande del mundo, con un crecimiento económico fuerte en los últimos años que lo ha posicionado como una de las principales economías emergentes. La economía brasileña se basa en la agricultura, la minería, la manufactura y los servicios. Tras una fuerte recesión durante la crisis financiera global, Brasil se recuperó rápidamente y experimentó altas tasas de crecimiento hasta 2011, aunque el crecimiento se ha desacelerado recientemente. El desempleo se encuentra en mínimos históricos
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This document outlines the program for an international workshop on female immigrants and migrants held in Taipei, Taiwan in 2005. The workshop included panels on issues facing foreign brides and female migrant workers in Asia, as well as actions to prevent violence against these groups. Participants included NGOs from several Asian countries working on issues related to female immigrants and migrants.
The document outlines a training program for Kurban Travel that focuses on improving customer service and sales. It discusses the importance of customer retention, categories of customers, marketing strategies, and developing specialist knowledge in key destinations and lifestyle areas like spas. Specific topics covered include service surveys, the costs of losing customers, needs assessments, communication skills, and destination profiles for Thailand that highlight attractions, transportation and spa opportunities. The overall aim is to help travel agents better understand customer behaviors and needs and how to tailor their marketing and sales approaches accordingly.
1. Cia. Hering reported strong growth in 1Q11, with gross sales up 44.8% and net profit increasing 73.7%.
2. Same store sales in the Hering store chain grew 23.4% due to increases in average sales price and store traffic.
3. Despite pressure from rising raw material costs, EBITDA margin expanded 2.6 percentage points to 26.8% through operational leverage and expense management.
This document summarizes the financial performance of Cia. Hering in the first quarter of 2010. Some key highlights include total gross revenue increasing 38.2% to R$233.8 million, same-store sales growth of 26.6% in Hering stores, EBITDA up 126.5% to R$47.2 million with margins expanding to 24.3%, and free cash flow of R$77 million for the quarter. Forward-looking projections are based on management assumptions and depend on market conditions and economic performance.
Hering reported strong financial results for 4Q11 and FY2011, with gross revenue growth of 22.6% and 33.4% respectively. EBITDA margin expanded 1.9 percentage points to 29.1% for the full year due to operating leverage and cost controls. The company sees positive prospects for 2012 despite a more challenging short-term scenario, and will focus on organic brand growth, cost reductions, and expanding its Hering Kids and store networks.
- Sales growth and same store sales growth exceeded market averages in 3Q11
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- Lojas Maia and integration of acquired stores like Baú showed strong results
- Store count and credit card base continued to expand organically and through M&A
- Adjusted EBITDA margin was 5.7%, with solid financial performance overall
CCR's 2Q06 results showed an 8.8% increase in net operating income compared to 2Q05, reaching R$512.8 million, with the number of electronic toll collection users increasing 25.3% to 599 thousand. Total costs increased 17.5% compared to 2Q05. EBIT decreased 4.8% to R$174.7 million due to factors including traffic, operating costs and financial results. CCR's entrance to the IBOVESPA stock index in March 2006 and prepayment of foreign currency debt were highlighted as subsequent positive events.
The document provides financial results for CCR for 4Q08 and full year 2008. Some key highlights include:
- Net revenue increased 15.9% in 4Q08 and 16.2% for the full year. EBITDA grew 29.2% in 4Q08 and 20.1% for the full year.
- Traffic increased 7.3% in 4Q08 and 8.4% for the full year. The number of tag users grew 43.5% compared to the end of 2007.
- Management proposes an additional dividend payment of R$0.35 per share for 2008, subject to shareholder approval.
Vivo Participações S/A reported financial results for 2006-2007. Revenue grew 14.2% to R$12.5 billion in 2007. EBITDA increased 20.7% to R$3.1 billion and EBIT grew 219.7% to R$600 million. The company achieved market leadership in its operational area and nationwide commercial campaigns. Key initiatives included strengthening the brand, acquiring additional spectrum, and improving customer and employee satisfaction.
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.
This document contains an analysis of Activision Blizzard using a discounted cash flow valuation model. It projects revenue, costs, earnings, and cash flows for Activision Blizzard through 2013 and estimates a terminal value and enterprise value of $18.1 billion. This results in a projected share price of $13.87, higher than the current price of $10.87. The analysis assumes long-term revenue growth rates of 10% for product sales and subscriptions. A terminal growth rate of 5% and discount rate of 8.18% are used to calculate the terminal and net present values.
CCR's 3Q06 results showed a 5.9% increase in net revenues compared to 3Q05. Total costs grew 8.6% due to higher operating costs returning to long-term trends, while EBIT increased 2.5% and EBITDA grew 3.9%. The financial result was negatively impacted by currency fluctuations. Traffic across most concessions recovered compared to recent quarters. CCR maintained a sound capital structure and liquidity. New business opportunities may come from additional Brazilian concessions and expanding into other markets like Mexico, Chile, U.S. and Canada.
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.
The document provides an 11-year financial summary of Wal-Mart Stores, Inc. from 1995 to 2005, showing key metrics such as net sales, operating expenses, net income, and earnings per share grew at a compound annual growth rate of around 15%. It also includes projections for financial statements such as the income statement and balance sheet from 2006 to 2010, with assumptions around revenue, expense, and capital expenditure growth rates.
This document provides highlights and results from CCR's 4Q07 earnings.
Key highlights include a 6.9% increase in traffic in 4Q07 and 6.2% for 2007. Net revenue increased 11.7% in 4Q07 and 9.7% for 2007. EBITDA grew 16.7% in 4Q07.
Results reflect higher traffic and lower operating costs. Net income decreased 41.6% in 4Q07 due to higher financial expenses. CCR is proposing additional dividends of R$0.50 per share for 2007. Upcoming events include an acquisition of a stake in Renovias.
1) Contracted sales were R$76.7 million in 1Q10, up 220% from 1Q09. Revenues to be recognized are R$186.3 million with results of R$55.4 million and a margin of 29.8%.
2) Deliveries totaled R$87 million in 1Q10 with another R$105 million scheduled for 2Q10. The company intends to deliver R$782.8 million in PSV by the end of 2010, representing 77% of total launches.
3) The balance sheet shows improved liquidity with cash of R$187.6 million and a stronger debt profile, with net debt to equity excluding SFH loans at 3
The document is a slide presentation for an analyst conference call summarizing Piaggio Group's full year 2009 financial results. It shows that while net sales decreased 5.3% year-over-year, EBITDA increased 6.2% due to cost cutting measures. Net income also increased 9.4% despite the sales decline. The net financial position improved slightly from €359.7 million to €352 million due to positive operating cash flow and reductions in working capital and equity.
This document summarizes the financial performance of Technos S.A. and its subsidiaries for 3Q11 and 9M11. Key highlights include:
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- Adjusted net income increased 69.8% to R$14.8 million in 3Q11, while adjusted earnings per share increased 43.3%.
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The document summarizes Estácio's 2Q09 earnings release. Some key points:
- Student enrollment reached 202 thousand, a 4.7% increase over 1H08.
- Revenue grew 4.4% in 2Q09 and 7.9% in 1H09. EBITDA margin expanded due to cost controls and efficiency gains.
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- Capex totaled R$21.6 million in 1H09, primarily for organic growth. Net cash decreased to R$215.6 million as of June 30, 2009.
1) This document is the 2007 Annual Report, Notice of Annual Meeting, and Proxy Statement for Bed Bath & Beyond.
2) In fiscal 2007, Bed Bath & Beyond saw net sales increase 6.5% to $7.049 billion and net earnings of $2.10 per diluted share, compared to $2.09 per share the previous year.
3) The company continued its expansion, opening 66 new Bed Bath & Beyond stores and its first international store in Canada. It also operated 41 Christmas Tree Shops stores and 9 buybuy BABY stores.
Hering reported its 3Q17 results with the following highlights:
- Gross revenues increased 5.1% to R$433.7 million, influenced by own stores, webstores, and foreign market performance.
- EBITDA was R$63.8 million with 310 basis point margin expansion due to sales growth and gross margin increase.
- Net income decreased 9.8% to R$51.9 million due to a financial income gain in 3Q16 impacting comparisons.
- ROIC increased 130 basis points to 16.7% mainly due to recovery in operating results.
O documento apresenta os resultados financeiros da empresa no 3T17, com destaque para:
1) Receita bruta total de R$433,7 milhões, influenciada pelo desempenho de lojas próprias, webstores e mercado internacional.
2) Lucro líquido de R$51,9 milhões, impactado por menor receita financeira versus 3T16.
3) Geração de fluxo de caixa de R$27,9 milhões, similar ao 3T16, compensando maior investimento em capital de giro.
O documento apresenta os resultados financeiros da empresa no 2T17. Destaca o crescimento da receita bruta total de 8,3% em relação ao ano anterior, impulsionado pelo desempenho de multimarcas, lojas próprias e webstores. Apresenta também a melhora no EBITDA e lucro líquido, com expansão das margens, apesar da queda nas vendas nas lojas próprias. Por fim, discute as perspectivas conservadoras para o segundo semestre de 2017.
The document summarizes Cia. Hering's 2Q17 financial results. It reported gross revenues of R$481.4 million for the quarter, up 8.3% year-over-year. EBITDA was R$73.4 million, with a 190 basis point margin expansion. Net income increased 42.8% to R$88.0 million. The outlook notes that multibrand and franchisees orders for 3Q17 are more conservative, posing a challenge for revenue growth, but product and store initiatives remain priorities to support recovery over the year.
O documento apresenta os resultados financeiros da empresa no primeiro trimestre de 2017, com destaque para: crescimento de 3,4% na receita bruta total impulsionada pela recuperação das vendas nos canais multimarcas, lojas próprias e e-commerce; lucro líquido 29,2% maior devido à melhoria operacional e menor alíquota de imposto de renda; e geração de caixa de R$72,7 milhões.
This document summarizes Cia. Hering's 1Q17 earnings conference call. It reports that gross revenues were R$389 million, a 3.4% increase year-over-year. EBITDA was R$42.2 million, with a 130 basis point expansion in margin. Net income increased 29.2% to R$37.8 million. The company expects signs of economic recovery and improvements in products and stores to drive brand growth throughout 2017. The strategy focuses on evolving products and stores, including launching a new clothing line and updating store supply processes.
Cia Hering reported financial results for 4Q16 and full year 2016. Gross revenues declined 15.2% in 4Q16 and 8.1% for the full year. EBITDA declined 21% for the full year due to operational deleveraging and reversal of lawsuit gains. Net income declined 29.1% for the full year due to non-recurring tax effects recognized in 2015. The company expects a gradual economic recovery in 2017 but not yet materialized, and will focus on improving products, stores, e-commerce, and multibrand segments.
O documento apresenta os resultados financeiros da empresa no 4T16 e 2016. A receita bruta total foi de R$1,7 bilhão em 2016, influenciada negativamente pelo cenário macroeconômico. O lucro líquido foi de R$199,4 milhões em 2016, impactado por efeitos não recorrentes. A empresa gerou R$209,4 milhões de caixa livre no ano.
O documento descreve as atividades e estratégias da Cia. Hering ao longo de 2016, com foco nas marcas infantis PUC e Hering Kids, e na marca DZARM. As prioridades incluíram melhorias de produto, lojas e canais de venda, além de estudos sobre consumidores e segmentação do canal multimarcas.
1. In 2016, Cia. Hering executed key activities to navigate one of Brazil's biggest recessions, focusing on product and store strategic fronts.
2. Product improvements were made from High Summer onward in product lifecycle management and store refurbishment plans were implemented.
3. Looking ahead, Product and Store remain priorities, with initiatives to continue in 2017 related to both.
O documento apresenta os resultados financeiros da empresa no 3T16. A receita bruta total foi de R$412,8 milhões, influenciada negativamente pelo desempenho do canal multimarcas. O EBITDA foi de R$48,8 milhões, em queda de 11,1%, e o lucro líquido foi de R$57,5 milhões, redução de 41,2%. As vendas nas lojas próprias tiveram queda de 10,7% e a empresa segue com seu plano de reforma de lojas.
The document summarizes Hering's 3Q16 financial results. Gross revenues were R$412.8 million, impacted by lower multibrand performance but partially offset by owned stores and webstore. EBITDA was R$48.8 million, down 11.1% due to operational deleveraging and expenses. Net income was R$57.5 million, down 41.2% due to non-recurring effects. For Q4, uncertainties in consumption could impact sales volatility but inventory normalization should help reduce markdowns. The company's priorities remain improving products, stores, supply chain management and inventories to boost profitability.
O documento apresenta os resultados financeiros da empresa no 2T16, com queda na receita bruta de 2,8% em relação ao ano anterior. Apresenta também as perspectivas para o ano, com foco nas frentes de produto e lojas para melhorar a experiência do cliente, apesar do cenário econômico desafiador.
The document summarizes the company's 2Q16 financial results. Gross revenue declined 2.8% to R$430.6 million due to weaker franchise and multibrand performance. EBITDA fell 7.8% to R$61.4 million due to lower sales and operational deleveraging. Net income was positively impacted by higher financial income and tax benefits. Cash flow increased significantly to R$85 million due to working capital reductions. For the outlook, challenges in revenue growth are expected in a recessionary economy, but economic recovery may help later in the year. Product and store initiatives aim to improve the shopping experience.
No primeiro trimestre de 2016, a empresa teve uma queda de 9,5% na receita bruta total em comparação com o mesmo período do ano anterior. O EBITDA caiu 22,6% devido ao aumento de despesas operacionais, principalmente indenizações trabalhistas. A geração de caixa livre foi de R$101,6 milhões, R$34,2 milhões a mais do que no primeiro trimestre de 2015, graças à menor necessidade de capital de giro.
The document summarizes 1Q16 financial results for Cia. Hering. Gross revenues were R$367 million, down 9.5% year-over-year. EBITDA was R$36.5 million, down 22.6%, impacted by severance payments. Net income declined due to lower operating income, partially offset by a lower tax rate. Cash flow was strong at R$101.6 million, up from the prior year. SAP implementation was completed on schedule. Outlook commentary discussed economic uncertainty, strategic initiatives, and protecting the balance sheet and earnings through cost controls and cash flow improvement.
O documento apresenta os resultados financeiros da empresa no 4T15 e no ano de 2015. A receita bruta total caiu 1,4% no 4T15 e 6% em 2015, influenciada pelo cenário macroeconômico desafiador. O lucro líquido caiu 42,5% em 2015, compensado parcialmente por melhor resultado financeiro e menor taxa de imposto de renda. A empresa também detalha seu plano de implementação do sistema SAP e perspectivas para 2016, com foco em retomada de crescimento de vendas.
Cia Hering reported financial results for 4Q15 and full year 2015. Revenues declined 1.4% in 4Q15 and 6% for the full year due to challenging economic conditions in Brazil. EBITDA fell 33.6% for the full year due to sales declines and higher promotional activity. The company will focus on revamping sales growth and refurbishing stores in 2016 while controlling expenses to protect margins and earnings in the difficult market environment.
The document outlines the agenda for Cia. Hering's Day 2015 event. It discusses progress made since 2013, including organizational model evolution focused on brands, relaunching of collection basics, and new fronts. The agenda includes sessions on channels, products and brands, PHSAP2 project, and financial management. It provides details on initiatives for the store network, multibrand, e-commerce, and individual brand strategies for Hering, Children's Fashion, and Hering For You. The goal is to drive sales growth through improved product, store management, supply, and multichannel distribution.
O documento resume os resultados financeiros da empresa no 3T15, destacando uma queda na receita bruta devido ao ambiente macroeconômico desfavorável. Apresenta também as perspectivas da empresa para focar no crescimento de vendas e recuperação de margens através de melhorias no sortimento, abastecimento e controle de custos, sem perder o foco em novas frentes de crescimento.
2. Disclaimer
This presentation contains forward-looking statements regarding the prospects of
the business, estimates for operating and financial results, and those regarding
Cia. Hering's growth prospects. These are merely projections and, as such, are
based exclusively on the expectations of Cia. Hering management concerning
the future of the business and its continued access to capital to fund the
Company’s business plan. Such forward-looking statements depend,
substantially, on changes in market conditions, government regulations,
competitive pressures, the performance of the Brazilian economy and the
industry, among other factors and risks disclosed in Cia. Hering’s filed disclosure
documents and are, therefore, subject to change without prior notice.
4. Highlights
MAIN INDICATORS
• 2009 total gross revenue: +39.4%, of which +44.5% in the domestic
market;
• EBITDA of R$ 154 MM and EBITDA Margin of 21.4% in 2009 (+4.0 p.p.);
• Hering Store Same-store sales: + 27.2% in 2009 and +32.6% in the 4Q09;
• Hering brand sales +50.6%, PUC +18.1% and dzarm. +34.9% in the 4Q09.
OTHER HIGHLIGHTS
• Opening of 46 Hering Stores in 2009, 3 over the forecasted;
• Opening of15 PUC Stores, 10 in the 4Q09 (4 over the forecasted);
• Dzarm. repositiong plan execution shows its results with a 34.9% sales
growth in the 4Q09;
• The hybrid production model assured to attend production volumes over
4
the forecasted.
6. Sales Performance
Gross Revenue (R$ million)
39.4%
877.0
15.4
53.3%
629.2
33.0
44.5%
861.6
43.4%
287.7
200.6 42.6%
3.0 596.2
5.2
284.7
195.5
45.7%
4Q08 4Q09 2008 2009
Foreign Market Domestic Market Total
With na expressive 43.4% growth in the 4Q09, the gross revenue
reached R$ 877.0 million in 2009 (+39.4%).
6
7. Sales Performance (cont.)
Domestic Market (R$ million)
2008 2009
+50.1%
R$ 473.8 R$ 711.0
+26.5% 83% 9%
R$ 61.9 R$ 78.4
6%
+14.0%
R$ 47.6 R$ 54.2
Highlight for the double digit growth of the three brands, specially
for Hering which represented 83% of the sales.
8. Distribution network- Hering Store and PUC
Evolution of the Distribution Network
416
Goal: 70
365 (+ 4 stores) 15
Goal: 57
311 (+ 2 stores)
15 76
248 22 74
209 59 Goal: 273
23 Goal: 224 (+ 3 stores)
19 Goal: 172 (+ 6 stores)
44 (+ 9 stores)
39 325
276
230
181
151
2006 2007 2008 2009 2010*
Abroad PUC Hering Store Total
* estimated
In 2009, we opened 46 Hering Stores and 15 PUC Stores, reaching
350 stores in Brasil; 7 over the forecasted (+3 HS and +4 PUC).
8
9. Hering Store Network Performance
Hering Store Performance 4Q08 4Q09 Chg. 2008 2009 Chg.
Number of Stores 230 276 20.0% 230 276 20.0%
Franchise 193 236 22.3% 193 236 22.3%
Own 37 40 8.1% 37 40 8.1%
Sales (R$ thousand) (1) 169,028 257,956 52.6% 438,844 645,999 47.2%
Franchise 133,983 204,088 52.3% 352,371 512,777 45.5%
Own 35,045 53,868 53.7% 86,473 133,222 54.1%
Same Store Sales growth (2) 29.1% 32.6% 3.5 p.p. 32.4% 27.2% -5.2 p.p.
Sales Area (m²) 29,791 35,415 18.9% 29,791 35,415 18.9%
Sales (R$ per m²) 5,776 7,368 27.6% 16,256 19,864 22.2%
Check-Outs 2,040,928 3,001,915 47.1% 5,225,865 7,391,080 41.4%
Units 4,760,440 6,925,219 45.5% 12,222,332 16,851,285 37.9%
Average Sales Ticket (R$) 82.82 85.93 3.8% 83.98 87.40 4.1%
(1)
The amounts reffered to the sales to final costumers. (sell out concept)
(2)
Compared to the same period of the previous year
Highlight fot the SSS, +32.6% in the 4T09 and +27.2 in 2009, boosted
mainly by the traffic increase in the stores.
9
11. Gross Profit and Gross Margin
Gross Profit (R$ million) and Gross Margin (%)
48.6% +0.6 p.p.
48.0% 47.3% +1.1 p.p.
53.1% +2.8 p.p.
46.3%
52.1% +1.1 p.p.
51.0%
50.3%
340.9
238.5
123.8
83.2
4T08
4Q08 4T09
4Q09 2008 2009
Gross Profit Gross Margin Gross Margin Cash
Highlight for the Gross Margin Cash, excluding depreciation, which
reached 53.1% in the 4Q09 and 48.6% in 2009.
11
12. EBITDA and EBITDA Margin
EBITDA (R$ million) and EBITDA Margin (%) – Comparable Basis
+4.0 p.p. 21.4%
17.4%
+4.3 p.p. 26.2%
21.9%
154.0
89.6
62.2
35.8
4Q08 4Q09 2008 2009
Comparable EBITDA Comparable EBITDA Margin
EBITDA reached R$ 154 million in 2009, with +71.9% growth in
comparable basis, and EBITDA Margin of 21.4% (+4.0 p.p.).
12
13. EBITDA and EBITDA Margin (cont.)
EBITDA (R$ million) and EBITDA Margin (%) – Annual Variation
3.3%
23.5 3.1%
14.6 20.2 2.7%
2.0%
35.3 21.4%
154.0 20.5%
15.8
17.4%
105.4
89.6
EBITDA Non EBITDA Sales Deduction - Incentives CPV Dilution EBITDA EBITDA Non Margem Deduction - Incentives CPV Dilution EBITDA
2008 Recurring 2008 - Base Growth Taxes and and and 2009 Margin 2008 Recurring EBITDA 2008 Taxes and and and Margin 2009
Result 2008 Comparavel AVP Subventions Operating Result 2008 - Base AVP Subventions Operating
Exp. Comparavel Exp.
Expansion of EBITDA and EBITDA Margin are explained mainly by (i)
sales growth and (ii) dilution of cost of goods sold and expenses.
13
14. Net Profit
Net Profit (R$ million) and Net Margin (%)
+8.6 p.p. 15.9%
140.0
20.4%
120.0
7.3%
100.0
+14.7 p.p.
80.0
60.0
5.7% 114.6
203.7%
40.0
417.9%
48.4
20.0
37.7
9.3
0.0
4Q08 4Q09 2008 2009
Net Profit Net Margin
Besides the EBITDA growth, the net profit was affected by the non
recurring gain of R$ 24.8 million (Derivatives rev) and R$ 6.6 million
(REFIS). 14
15. CapEx
By activity (R$ million)
35.8 12.8%
31.2
6.1
1.2 4.8
2.7
15.5
10.5 26.7% 14.4
7.7
1.2
0.4 1.4
6.6 1.9 13.0
9.3
3.8 0.5
2.2
4Q08 4Q09 2008 2009
Stores Industry IT Other
In 2009, we invested R$ 31.2 million, mainly on production, logistics
and store openings (3 HS and 1 PUC).
15
16. Cash Flow
Free Cash Flow (R$ million)
Cash Flow - Consolidated 4Q08 4Q09 Chg. 2008 2009 Chg.
EBITDA 51,534 62,209 10,675 105,358 154,013 48,655
No cash items 3,940 24,813 20,873 4,594 26,757 22,163
Current IR&CS -10,971 -8,690 2,281 -22,798 -22,584 214
Cash Flow Capex -67,627 -54,394 13,233 -110,014 -45,213 64,801
Increase in trade accounts receivable -34,341 -42,751 -8,410 -52,241 -45,710 6,531
Increase in inventories 8,871 15,820 6,949 -19,337 -14,010 5,327
(Decrease) in deffered taxes - REFIS - 31,773 31,773 0 31,773 31,773
Increase (decrease) in accounts payable to suppliers -16,102 -3,295 12,807 -12,477 36,372 48,849
Increase (decrease) in taxes payable -7,373 -34,434 -27,061 -13,437 -67,856 -54,419
Others -18,682 -21,507 -2,825 -12,522 14,218 26,740
CapEx -10,463 -7,670 2,793 -35,773 -31,189 4,584
Free Cash Flow -33,587 16,268 49,855 -58,633 81,784 140,417
In this year, the Free Cash Flow reached R$ 81.8 million, due to the
EBITDA growth and the better working capital management.
16
17. Indebteness
Indebteness Evolution Short Term x Long Term
Long
201.3 Term
184.6
52%
4,6x Short
3,5x
Term
0,1x 48%
-0,2x
-0,7x
11.0 -25.1
-33.4
2005 2006 2007 2008 2009
Total Debt = R$ 77.6 million
Net Debt (R$ million) Net Debt/Ebitda*
* Last 12 months EBITDA
The management is focused on low leverage and new financing with
lower interest rate and longer terms.
17
19. New Expansion Plan - Hering Store Network
Expansion Plan – 2011 and 2012
Location selection premises:
• Cities with > 100 thousand inhabitants
• Total and Retail Consumption Potential - IPC
+38 (Target) and POF (IBGE)
+42 • Actual and forecasted Shopping centers
analysis;
• Benchmark with other franchise networks
405 • Evaluation of the Operational Potential
367
325
276
230
151 181
2006 2007 2008 2009 2010* 2011* 2012* 80 locations were selected which
* estimated presented greater potential
The new expansion plan, consistenly elaborated, renew the
perspectives for the Hering Store network growth.
19
20. Outlooks
Hering
• Hering Store Network: New expansion plan- 405 stores by 2012;
• Products with High Perceived Value and the concept “Retail is detail”;
• Continuity of the marketing campaign “eu uso Hering desde sempre”;
• Actions with the Hering Store Card and the Hering Webstore .
Research in the children market to evaluate the opportunities to better explore
the potential of the PUC and Hering Kids brands;
Continuity of the reposition plan for dzarm.: casual jeans concept, marketing
campaign and distribution channel qualification.
20
21. Investor Relation Team
Fabio Hering – CEO and IR Director
Frederico de Aguiar Oldani – Finance Director
Karina Koerich – IR Manager
Gracila Camargo Lopes – IR Analyst
Tel. +55 (47) 3321-3469
E-mail: ri@heringnet.com.br
Website: www.ciahering.com.br/ir
FIRB – Financial Investor Relations Brasil
Tel. +55 (11) 3897-6857
E-mail: ligia.montagnani@firb.com