LATIN AMERICA EXECUTIVE CONFERENCE

Transcription

1 LATIN AMERICA EXECUTIVE CONFERENCE January 2013

2 FALABELLA CONSOLIDATED STATEMENTS BUSINESS UNITS INVESTMENT PLAN

3 MORE THAN 120 YEARS OF HISTORY 1889 Salvatore Falabella opens the first large tailor shop in Chile 1958 Introduction of home products. Falabella becomes a department store 1990 Falabella develops its first shopping center 1995 Falabella enters Peru with the acquisition of Saga 1997 JV with The Home Depot in Chile Creation of Travel Agency and Insurance brokerage 2002 First Tottus in Peru 2004 Sodimac enters Peru Falabella acquires San Francisco supermarkets in Chile 2007 Mall Plaza enters Peru 2012 Mall Plaza starts operations in Colombia MAIN MILESTONES IN OUR HISTORY 1937 Alberto Solari joins the company 1993 Falabella and CMR enters Argentina 1998 Banco Falabella is launched in Chile 2005 Falabella and CMR enter Colombia 2010 Banco Falabella starts operations in Peru 1980 Falabella launches CMR, its own credit card Sodimac enters Colombia 1996 Falabella IPO in the Chilean Stock Exchange 2003 Falabella-Sodimac merger 2008 Sodimac enters Argentina 3

4 DIVERSIFIED SOURCES OF REVENUES DEPARTMENT STORES HOME IMPROVEMENT SUPERMARKETS FINANCIAL RETAIL REAL ESTATE Revenues US$ 4,341m Revenues US$ 5,258m Revenues US$ 1,783m Gross Loans US$ 5,978m GLA 1,6m sqm Stores 84 Stores 125 Stores 69 CMR Accounts 4.2+ million Malls / Power & Shopping Centers 16 / 14 Note: Financial data and outlets information as of September 2012 (LTM). FX rates as of 9/30/2012. Includes Sodimac Colombia revenues, which are not consolidated 4

5 A REGIONAL PLAYER 39 stores 13 Department Stores 26 Home Improvement 68 stores 19 Department Stores 18 Home Improvement 31 Supermarkets 4 Malls 7 Power Centers 4.2m CMR ACCOUNTS 87k+ WORKERS 24bn MKT CAP 153 stores 41 Department Stores 74 Home Improvement 38 Supermarkets 12 Malls 7 Power Centers 18 stores 11 Department Stores 7 Home Improvement Note: Information as of September FX rates as of 9/30/2012. Includes Sodimac Colombia stores. 5

6 FOCUS IN OUR CUSTOMER KNOWLEDGE OF OUR CUSTOMERS CUSTOMER PLATFORM FOR GROWTH SYNERGIES 6

7 CORPORATE GOVERNANCE Independent director Company with the Most Coherent Strategy and the Highest Standards of Corporate Governance in Chile, awarded by the Euromoney Magazine. Controlling group formed by 7 families Note: Shareholders information as of September

8 CORPORATE SOCIAL RESPONSIBILITY CUSTOMERS RESPONSIBLE MARKETING PROMPT COMPLAINS MANAGEMENT CUSTOMER SERVICE PROVIDERS FERIA PYME: SUPPORTING THE DEVELOMENT OF SMALL BUSINESS SUPPLIERS SUSTAINIBILITY REPORT ON 2012, WE LAUNCHED OUR FIRST CORPORATE SUSTAINIBILITY REPORT, JOINTLY WITH THE REPORTS LAUNCHED BY OUR 5 BUSINESS UNITS HUMAN RESOURCES GREAT PLACE TO WORK INSTITUTE TOP RANKINGS BY FALABELLA, SODIMAC, AND TOTTUS COMMUNITY COMMITMENT WITH THE COMMUNITIES WHERE WE WORK ENVIRONMENT MEMBER OF THE US GREEN BUILDING COUNCIL LEED CERTIFIED STORES 8

9 FALABELLA CONSOLIDATED STATEMENTS BUSINESS UNITS INVESTMENT PLAN

10 3Q 2012 INCOME STATEMENT US$ million 3Q 2011 % Rev. 3Q 2012 % Rev. Var. 12/11 Revenues of Non-Banking Operations ,3% Revenues of Banking Operations ,6% TOTAL REVENUES ,7% COGS of Non-Banking operations (1.598) -67,1% (1.871) -68,2% 17,1% COST of Banking Operations (81) -45,4% (110) -51,4% 36,6% GROSS PROFIT ,4% ,0% 11,2% SG&A Expenses (605) -23,6% (704) -23,8% 16,3% Operational Income ,7% 274 9,3% -0,2% Depreciation+Amortization 69 2,7% 75 2,5% 8,2% EBITDA ,5% ,8% 1,5% Non- Operating Profit (52) -2,0% (30) -1,0% -41,1% Profit Before Tax Expenses 223 8,7% 244 8,2% 9,3% Income Tax (43) (119) 177,6% Minority Interest (19) 1-104,5% NET PROFIT / (LOSS) 162 6,3% 126 4,2% -22,2% Increase in Deferred Taxes: (US$ 34m) Incremental Income Tax: (US$ 6m) Note: Financial Statements in CLP translated at FX as of 9/30/

11 9M 2012 INCOME STATEMENT US$ million 9M 2011 % Rev. 9M 2012 % Rev. Var. 12/11 Revenues of Non-Banking Operations ,7% Revenues of Banking Operations ,9% TOTAL REVENUES ,5% COGS of Non-Banking operations (4.722) -66,4% (5.604) -68,1% 18,7% COST of Banking Operations (209) -42,2% (329) -52,0% 57,6% GROSS PROFIT ,2% ,0% 9,4% SG&A Expenses (1.748) -23,0% (2.091) -23,6% 19,6% Operational Income ,2% 835 9,4% -9,8% Depreciation+Amortization 198 2,6% 221 2,5% 11,3% EBITDA ,8% ,9% -6,0% Non- Operating Profit (121) -1,6% (107) -1,2% -11,0% Profit Before Tax Expenses ,6% 727 8,2% -9,6% Income Tax (156) (208) 33,0% Minority Interest (55) (45) -18,4% NET PROFIT / (LOSS) 593 7,8% 475 5,4% -20,0% Note: Financial Statements in CLP translated at FX as of 9/30/

12 BALANCE SHEET as of SEPT US$ million Sep-2012 Dec-2011 ASSETS Non-Banking Operations Current Assets Cash & cash equivalents Current trade & other receivables Inventories Others Total Current Assets Non-Current Assets Non-Current trade & other receivables Goodwill PP&E Others Total Non-Current Assets Total Non-Banking Operations Assets Total Assets from Banking Operations TOTAL ASSETS US$ million Sep-2012 Dec-2011 EQUITY & TOTAL LIABILITIES Non-Banking Operations Current Liabilities Other current financial liabilities Current trade & otherpayables Others Total Current Liabilities Non-Current Liabilities Other non-current financial laibilities Others Total Non-Current Liabilities Total Non-Banking Oper. Liabilties Total Liabilities from Banking Oper TOTAL LIABILITIES Shareholders' Equity TOTAL EQUITY & LIABILITIES Note: Financial Statements in CLP translated at FX as of 9/30/

13 FINANCIAL SITUATION DEBT BY MATURITY Duration: 4.91 years LEVERAGE (times) DEBT BY TYPE Total Financial Debt: US$ 4,642 MM Note: Financial information as of September FX as of 9/30/2012. Leverage does not include Banking Operations, but does include CMR Chile and CMR Argentina. Debt by Type and Debt By Maturity includes Banking Operations. 13

14 FALABELLA CONSOLIDATED STATEMENTS BUSINESS UNITS INVESTMENT PLAN

15 DEPARTMENT STORES REVENUES 3Q2012 (MMUS$) +11.9% Revenue Growth 7 new stores opened in 2012 Strong consumption across the region Growth rates nominal in US$ at FX of 9/30/ % +22.4% +6.7% +30.5% Investments in Logistics in Chile Updating DC Lean Processes Focus on Omnichannel Strategy Falabella.com launched online sale of its private apparel label Basement, an exclusive labels Aldo (footwear) and Warehouse (apparel) Falabella reached one million fans in Facebook 15

16 HOME IMPROVEMENT REVENUES 3Q2012 (MMUS$) +15.3% +16.0% Revenue Growth Increasing market share in the four countries Solid SSS growth 17 new stores opened in 2012 Gross Margin Improvement +29.1% +17.3% +13.0% New Format In December, we opened two new Homy stores in Chile (Plaza Vespucio y Plaza Oeste), consolidating the new store format launched by Sodimac Growth rates nominal in US$ at FX of 9/30/

17 SUPERMARKETS REVENUES 3Q2012 (MMUS$) +27.6% Revenue Growth Solid SSS growth in both countries 12 new stores opened in 2012 Gross Margin improvement +19.7% SG&A expenses Increased expenses due to store openings and large proportion of new stores in the company +37.8% Growth rates nominal in US$ at FX of 9/30/

18 FINANCIAL RETAIL GROSS LOANS SEP-2012 (MMUS$) +13.1% +14.7% Revenue Growth Strong growth in loans portfolio, specially in Peru and Colombia Growth in checking and saving accounts Banco Falabella Chile is the 5th bank in Chile in # of accounts +23.2% -6.6% +26.2% Growth rates nominal in US$ at FX of 9/30/

19 FINANCIAL RETAIL CHILE (US$ million) PERU (US$ million) COLOMBIA (US$ million) ARGENTINA (US$ million) Loans in US$ are translated at FX of 9/30/

20 REAL ESTATE MALL PLAZA Gross leasable area (GLA) 000 m2 CHILE % PERU % Stores Revenues MM US$ CHILE % 1,223 1,089 PERU % Opened 3 Malls Plaza in 2012 Mall Plaza Bio Bio in Concepción (Chile), in May Santa Anita Aventura Mall in Lima (Peru), in August Mall Plaza El Castillo in Cartagena (Colombia), in November 2 new Mall Plaza to be opened in 2013 Plaza Egaña (Chile) Plaza Copiapó (Chile) 20

21 FALABELLA CONSOLIDATED STATEMENTS BUSINESS UNITS INVESTMENT PLAN

22 GROWTH PLAN # Stores y Malls 231 STORES Investment (US$ million) 20 MALLS US$3.9bn 22

23 CONTACT INFORMATION Jordi Gaju N. Chief Development Officer Teléfono: Alejandro González D. Chief Financial Officer (alejgonzalez@falabella.cl) Teléfono: Lucrecia Fittipaldi Corporate Development Manager/ Head of IR (lfittipaldi@falabella.cl) Teléfono:

24 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. 24

25 LATIN AMERICA EXECUTIVE CONFERENCE January 2013