Santander Conference Acapulco JAN 08

Transcription

1 Santander Conference Acapulco JAN 08

2 Consolidated Summary

3 FALABELLA SNAPSHOT Chile based integrated retailer involved in the department store business, home improvement, supermarket and financial services. Key information and indicators (Dec-07) Operations in Chile, Perú, Argentina and Colombia 63 Department Sores, 84 Homecenters, 29 Super/Hypermarkets 1,208,824 m2 Selling space 4.7 million active credit card accounts CMR 53,000 employees Falabella Financials LTM Sep07 USD MM$ (1) Falabella G Y Y Revenues ,0% EBITDA ,1% Net Income ,6% Market Cap.(2) (1) Real Sep30, 2007, year-end exhange rate Ch$/US$ (2) Stock Price 31/Dec/2007: Falabella Ch$ 2,420, D&S Ch$

4 HISTORY OF FALABELLA -Falabella initiates US$MM 2,500 investment plan Salvatore Falabella opens the first large tailor shop in Chile -Mall Plaza initiates Peru operations 1889 Alberto Solari joins the Company Incorporation of home products. Falabella becomes a department store Falabella initiates development of shopping centers with the opening of Mall Plaza Vespucio Falabella creates CMR, its own credit card D&S merger agreement Falabella acquires supermarket chain San Francisco in Chile Falabella enters the Colombian market: -Increases stake in Sodimac. -Launches CMR credit card Entrance to the Hypermarket industry in Peru with its first Tottus Falabella merger with Sodimac Alliances with ENTEL and Copec are created for the use of CMR card First opening in Argentina, city of Mendoza Announcement of Falabella -Sodimac announces entrance to Argentina Creation of Travel Agency and Insurance brokerage Joint venture agreement with The Home Depot 1999 First department store in Buenos 1997 Falabella enters Perú by acquiring department store Saga 100% of The Home Depot Chile is purchased 1996 Falabella IPO in the Chilean stock exchange 1998 Aires is opened. 20% of FASA drugstore is purchased Falabella Bank is created.

5 CORPORATE STRUCTURE AS OF DECEMBER 2007 Real Estate Chile Falabella Stores 39 Sales Area 206,710 M 2 Argentina Falabella Stores 7 Sales Area 42,295 M 2 Perú Saga Falabella Stores 14 Sales Area M 2 Colombia Falabella Stores 3 Sales Area 29,268 M 2 Chile Sodimac + Imperial Stores 55+7 Sales Area 489,414 M 2 Perú Sodimac Stores 7 Sales Area 54,073 M 2 Colombia Sodimac Stores 15 Sales Area 159,446 M 2 (49% ownership) Chile San Fco - Tottus Stores 21 Sales Area 85,810 M 2 Perú Tottus Stores 8 Sales Area 61,619 M 2 CMR Credit Card N of Active Accounts Chile 2.7 mm Argentina 565 m Perú > 1 mm Colombia 308 m Travel Agency Branches +34 N Pass /year Insurance Brokerage N Accounts +4MM Bank ROE ,6% Market Share Cons.Credit 5,2% N Sav.Acc Mall Plaza Chile: 8 malls Lease Ar. +590,093 M 2 Perú: 1 mall Lease Ar. 78,255 M 2 Sociedad de Rentas 54 stores Lease Ar M 2 Other Industrial Mavesa 100% own. Italmod 50% own. FASA 20% own.

6 MAIN EVENTS 2007 ANNOUNCEMENT OF FALABELLA D&S MERGER AGREEMENT OPENING OF 32 STORES DURING (16 IN 4Q07) ACQUISITION OF CONTROLLING STAKE IN MALL PLAZA MALL PLAZA BEGINS INTERNATIONAL EXPANSION THROUGH THE CONSTRUCTION OF FIRST MALL IN PERU ACQUISITION OF 60% OF INVERSIONES IMPERIAL (7 STORES) BANCO FALABELLA INAUGURATED IN PERU CAPITAL INCREASE FOR STOCK OPTIONS NYSE LISTING PROCESS OTHER RECENT EVENTS MMUS$ INVESMENT PLAN FOR (+ MMUS$ 900 IN MALL PLAZA)

7 CONSOLIDATED INCOME STATEMENT 9M 2007 (MMUS$) 9M 2007 % Revenues 9M 2006 % Revenues Var. 07/06 Revenues ,1% COGS (less) (2.821) -70,5% (2.439) -71,4% 15,7% GROSS MARGIN ,5% ,6% 20,8% SG&A (less) (760) -19,0% (651) -19,1% 16,8% OPERATING INCOME ,5% 325 9,5% 29,0% Depreciation + Amortization (less) (90) -2,2% (73) -2,1% 22,6% EBITDA ,7% ,7% 27,8% NON - OPERATING INCOME (66) -1,6% (19) -0,6% 246,4% PROFIT BEFORE TAX & EXT. ITEMS 353 8,8% 306 9,0% 15,6% INCOME TAX (63) (45) 39,3% MINORITY INTEREST (22) (4) 481,8% PROFIT (LOSS) bef amort of NG ,4% NET PROFIT (LOSS) 268 6,7% 257 7,5% 4,4% Adjusted EBITDA ,8% ,6% 19,3%

8 REVENUES (MMUS$) CAGR = 23% Var07/06= 17% M06 9M07 (*) Real Sep 30, 2007, exchange rate Ch$/US$

9 NET INCOME MMUS$ & % REVENUES 8,2% 9,3% 7,8% 8,2% 8,7% 7,5% 6,7% M06 9M07 (*) Real Sep 30, 2007, exchange rate Ch$/US$

10 OPERATING INCOME 9M M 07 Chile; 83,1% Peru; 15,9% Argentina; 1,0% Total 9M 07= MMUS$419

11 CONSOLIDATED INDICATORS Ebitda (MMUS$)* & % Revenues 14,7% 13,6% 12,1% 12,8% 11,6% 11,7% 12,7% M06 9M07 Liabilities /Equity ROE: Net Inc./Equity (%) 14,1% 13,0% 11,3% 14,7% 15,8% 13,9% 13,4% 1,05 1,06 1,31 0,91 0,98 1, M06 9M M07

12 FALABELLA STOCK EVOLUTION Market Cap. Stock Price (Ch$) US$MM 4,214 1,048 US$MM 5,783 US$MM 6,574 1,350 1,410 US$MM 11,642 2,420 US$MM 8,393 1,870 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 CAGR: 23.3% *Converted at each period s year-end exchange rate

13 BUSINESS UNITS

14 FALABELLA Department Stores Revenues (MMUS$) Chile 1,412 1,321 Var: 6.9% Perú Var: 21.4% Argentina Var: 20.5% Colombia 0 47 LTM Sep06 LTM Sep07

15 FALABELLA Department Stores* Chile New stores 2007: 4 Total stores: 39 (206,710 M 2 ) Openings 2008: 3 Openings : 14 International New stores 2007: 6 Total stores: 24 (151,752 M 2 ) 14 Peru, 7 Argentina, 3 Colombia Openings 2008: 5 Openings : 23 (*) Projected information subject to changes

16 SODIMAC Home Improvement Revenues (MMUS$) Chile 1,527 1,776 Var: 16.3% Colombia Var: 43.3% Perú Var: 58.7% LTM Sep06 LTM Sep07

17 SODIMAC Home Improvement* Chile New stores 2007: 4 Addition of 7 Imperial Stores Total stores: 62 (489,414 M2) Openings 2008: 4 Openings : 31 (*) Projected information subject to changes International New stores 2007: 9 Total stores: 22(213,519 M2) 7 Peru, 15 Colombia Openings 2008: 16 Openings : 55

18 TOTTUS SN FCO Supermarkets Revenues (MMUS$) Chile Var: 35.4% Perú Var: 19.0% LTM Sep06 LTM Sep07

19 TOTTUS SAN FRANCISCO Supermarkets* Chile New stores 2007: 5 Total stores: 21 (85,810 M 2 ) Peru New stores 2007: 4 Total stores : 8 (61,619 M 2 ) Openings 2008: 9 Openings : 31 (*) Projected information subject to changes

20 OTHER RETAIL OPERATING INDICATORS Same Store Sales (Real %) 9M 2007 Department Stores - Chile 3,1% Home Improvement - Chile 6,4% Supermarkets - Chile -0,1% Department Stores - Perú 10,4% Hypermarkets - Peru 1,1% Home Improvement - Peru 10,0% Department Stores - Argentina 9,8% Sales Area Growth (%) Sep-07 Sales Area (m2) Sep-06 Sales Area (m2) Growth % Department Stores - Chile ,3% Home Improvement - Chile ,2% Hypermarkets - Chile ,5% Department Stores - Perú ,2% Hypermarkets - Perú % Home Improvement - Peru ,7% Department Stores - Argentina % Department Stores - Colombia Home Improvement - Colombia ,4%

21 Financial Retail Indicators Total Gross Loans (MMUS$) Total Gross Loans Composition (Sep07) 877 1,177 1,542 2,046 2,454 2,742 CMR Chile 47% Banco Falabella Chile 36% M 07 CMR Colombia CMR Perú 3% CMR Argentina 2% 12% Total Active Accounts per Country (MM) M 07 Chile Peru Argentina Colombia

22 Financial Retail Efficiency 60% 50% 40% 30% 20% Operating Ratio as of September 2007 (Expenses/Gross Margin) 49,0% 30,7% 34,3% 19,3% 10% 0% Financial System Chile Falabella Bank Peru Falabella Bank Chile CMR Chile Provision as of September 2007 (%) 6,4% 4,6% 4,2% 4,5% Financial System Chile Falabella Bank Perú Falabella Bank Chile CMR Chile

23 MALL PLAZA* Chile Existing Malls 2007: 8 Total Leasing Space: 560,093 M 2 Openings 2008: 2 Projects : 7 Peru New Malls 2007 Mall Plaza Trujillo Total Leasing Space: 78,255 M 2 Openings 2008: 1 Projects : 5 (*) Projected information subject to changes

24 Growth Plan Growth Plan

25 INVESTMENT PLAN (US$ MM)* Malls Stores NEXT 4 YEARS: OVER US$MM 1,600 IN STORES PLUS US$MM 900 IN MALLS (*) Information subject to changes. Includes Sodimac Colombia Also, during 2007, US$MM 140 was invested in the acquisition of additional shares of Mall Plaza and a 60% equity stake in Imperial.

26 INVESTMENT IN STORES (US$ MM)* OVER US$MM 1,600 IN NEXT 4 YEARS (*) Information subject to changes. Includes Sodimac Colombia

27 STORE OPENINGS * Total N Stores NET STORE OPENINGS IN NEXT 4 YEARS (1) Includes 7 Imperial Stores acquired in May (*) Information subject to changes. Includes Sodimac Colombia

28 SELLING SPACE* 1,006,000 [M 2 ] ,324,000 [M 2 ] SELLING SPACE X 2 IN NEXT 4 YEARS (*) Information subject to changes. Includes Sodimac Colombia

29 STORE SUMMARY ** N of Stores 2007 TOTAL Falabella 63 Sodimac 84 Tottus 29 TOTAL 176 N of Stores 2011 TOTAL Falabella 100 Sodimac 178 *** Tottus 45 * TOTAL 323 (*) N of stores 2011 = N of stores Openings Closing of stores (**) Information subject to changes. Includes Sodimac Colombia. (***) Does not include investment plan to be developed with D&S.

30 LEADING REGIONAL EXPANSION COLOMBIA Falabella Sodimac Financial Retail PERU Falabella Sodimac Tottus Financial Retail Inmobiliario CHILE Falabella Sodimac Tottus Financial Retail Real State ARGENTINA Falabella Financial Retail Sodimac

31 CONTACT INFORMATION Juan Guillermo Espinosa Tomás Gazmuri Phone: Fax:

32 DISCLAIMER This presentation contains forward-looking statements, including statements regarding the intent, belief or current expectations of the Company and its management. Investors are cautioned that any such forward-looking statements are not guarantee of future performance and involve a number of risks and uncertainties including, but not limited to, the risks detailed in the company s financial statements, and the fact that actual results could differ materially from those indicated by such forward-looking statements.