22/02/ :48. skiron\roadshow\presentación Roadshow Script 2.ppt

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1 22/02/ :48 skiron\roadshow\presentación Roadshow Script 2.ppt 1

2 Forward Looking Statements This presentation contains, or may be deemed to contain, forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The future results of Grupo Famsa, S.A.B. de C.V. and its subsidiaries may differ from the results expressed in, or implied by, the forward-looking statements set out herein, possibly to a material degree. 2

3 Agenda 2012 Highlights Operating and Financial Results 4Q12 Famsa Mexico Banco Ahorro Famsa Famsa USA Consolidated Financial Results 4Q Guidance 3

4 2012 Highlights Consolidated Operating Cash Flow (EBITDA) grew 46.1%, to Ps$597 million, during the fourth quarter of EBITDA reached a historic record figure of Ps$2,299 million, with an EBITDA margin of 16.4% MX USA Famsa Mexico s SSS rose 6.3% in 4Q12; the annual increase in SSS of 3.4% was slightly below the guidance of 4% Household Appliances continued to recover in 4Q12, posting a quarterly growth in sales of 7.6% compared to 4Q11 Banco Ahorro Famsa continued to maintain a stable Capitalization Index (13%) Bank Deposits, distributed over more than 1.1 million accounts, reached Ps$11,999 million SSS in the Texas region grew 8.3% during the fourth quarter, the first quarterly growth since 1Q11 The closing of the 24 stores in the West region was finalized and the balance of accounts receivable declined 65.5% year-over-year at the close of

5 Agenda 2012 Highlights Operating and Financial Results 4Q12 Famsa Mexico Banco Ahorro Famsa Famsa USA Consolidated Financial Results 4Q Guidance 5

6 Pesos (Millons) Pesos (Millions) Famsa Mexico's EBITDA exceeded its guidance, reaching P$2,178 million in 2012 Famsa Mexico: Net Sales Famsa Mexico: EBITDA P$13,450 P$13,000 P$2,150 P$2,050 P$12,233 P$2, B B 6

7 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 Pesos (Millions) Growth (%) Famsa Mexico s Same Store Sales (SSS) rose 6.3% in 4Q12, while its annual increase reached 3.4% Famsa Mexico: Net Sales Famsa Mexico: Same Store Sales Total: +3.5% SSS: +3.4% $11,820 $12,233 20% 15% 10% Total: +6.8% SSS: +6.3% $3,372 $3,601 5% 0% Guidance: 4% -5% 4Q11 4Q12-10% 7

8 Electronics Computers Furniture Appliances Mobile Phones Personal Loans Motorcycles % of Sales Growth (%) Core categories, notably Mobile Phones (+12.4% yoy) and Appliances (+7.6% yoy), recovered during 4Q12 Famsa Mexico: % of Sales by Product Category Famsa Mexico: Sales Growth by Product Category (4Q12) 100% 100% 20% 19.8% 18.9% Others 15% 3.6% 5.0% 6.5% 6.3% 8.4% 8.3% Motorcycles Computers Mobile Phones 10% 5% 11.4% 10.7% Appliances 0% 13.0% 12.0% Electronics -5% 12.7% 13.8% Furniture -10% -15% 24.6% 25.0% Personal Loans -20% 8

9 Growth (%) Famsa MX doubled its sales during El Buen Fin 2012, as compared to 2011 Famsa Mexico: Buen Fin YoY growth 250% 200% 150% 100% 50% 0% 2010* * Base year 9

10 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12* Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Banco Ahorro Famsa strengthened its position by maintaining a stable capitalization index (>13%) BAF: Capitalization Index (ICAP) BAF: Non-Performing Loans Ratio (IMOR) 14% 12% 10% 8% 6% 4% 2% 0% 16% 14% 12% 10% 8% 6% 4% 2% 0% Source: CNBV, Banco Ahorro Famsa * Preliminary figure 10

11 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 Pesos (Millions) Rate (%) Bank Deposits continue growing, while the average cost of funding fell to 5.17% at the close of 4Q12 BAF: Deposits BAF: Average Cost of Funding +15.0% $11, % $10, % 7,397 8,639 9,012 9,113 9, % 5.17% 2,068 1,390 1,341 1,316 1, ,000 1,045 1,092 1,272 4Q11 1Q12 2Q12 3Q12 4Q12 4.5% Demand Deposits Time Deposits with optional availability Time Deposits Source: Grupo Famsa, Banco Ahorro Famsa 11

12 Pesos (Millions) Loans to micro, small and medium enterprises (MiPYME) now make up 57% of Total Commercial Loans (1) BAF: Commercial Loans BAF: Commercial Loans Mix +26.7% $2,088 $2,185 $2,383 $2,332 $1,840 Pyme 12% Gfamsa 21% Corporate 45% Financial Institutions 22% 4Q11 1Q12 2Q12 3Q12 4Q12 (1) MiPYME Loans = Pyme Loans + Corporate Loans 12

13 Pesos (Millions) Pesos (Millions) SSS in the Texas region grew 8.3% during the fourth quarter, the first quarterly growth since 1Q11 Famsa USA: Net Sales Famsa USA: EBITDA Total: -0.9 % (MXN) Total: -4.0% (USD) SSS: -4.0% (USD) $1,731 $1,715 $122 Total: +3.2% (MXN) Total: +8.3 % (USD) SSS: +8.3% (USD) $37 $460 $475 -$3 -$42 4Q11 4Q12 4Q11 4Q12 13

14 % of Sales Appliances and Furniture reactivated growth during the fourth quarter, posting 34.6% and 23.1% increases, respectively Famsa USA: % of Sales by Product Category 100% 100% 6.7% 7.1% 3.2% 2.6% 3.4% 9.7% 6.7% 9.5% 10.2% Others Personal Loans Famsa to Famsa Computers Appliances 22.8% 19.4% Electronics 48.1% 50.6% Furniture 14

15 USD (Millions) The closing of the 24 stores in the West was finalized and the balance of Accounts Receivable fell 65.5% as of year-end 2012 West Region: 2012 Results Figures in Millions of Pesos West Region: Accounts Receivable Sales $392 $1,267 $95 $ % Gross (Loss) Income -$118 $442 $63 Operating Expenses -$422 -$660 EBITDA -$534 -$181 $46 $33 Loss from Discontinued Operations -$539 -$222 4Q11 1Q12 2Q12 3Q12 4Q12 15

16 Number of branches Number of stores M 2 (Thousands) Famsa Mexico resumed its growth plans with the opening of 15 business units in 2012 Grupo Famsa: Stores Grupo Famsa: Retail Area % % BAF: Banking Branches Openings and Closures (4Q12) % Independent 3Q12 Openings¹ Closures 4Q12 Stores Famsa Mexico Within stores Famsa USA Texas Famsa USA West BAF

17 Agenda 2012 Highlights Operating and Financial Results 4Q12 Famsa Mexico Banco Ahorro Famsa Famsa USA Consolidated Financial Results 4Q Guidance 17

18 % of Sales Pesos (Millions) % of Sales Net Sales Consolidated Net Sales Consolidated Product Mix +2.5% $13,655 $14,003 22% 23% Others USA +6.6% $3,850 $4,104 7% 7% 6% 7% 11% 11% 14% 13% 17% 18% Computers Mobile Phones Appliances Electronics Furniture MX 22% 22% Personal Loans 4Q11 4Q12 Same Store Sales (%) Share of Consolidated Net Sales by Country 4Q % 12% Famsa USA Total +6.4% +2.4% Famsa Mexico +6.3% +3.4% 82% 88% Famsa Mexico Famsa USA +8.3% -4.0% 18

19 Pesos (Millions) Profitability Gross Income EBITDA $6, % $7,063 $1, % $2, % +46.1% $1,785 $1,901 $409 $ % 46.3% 48.5% 50.4% 10.6% 14.6% 12.8% 16.4% 4Q11 4Q12 4Q11 4Q12 Comprehensive Financing Expense (1) +9.3% $1,310 $1,199 Net Income % $ % $324 $ % $83 $33 0.9% 0.6% (4.0)% 2.5% 8.4% 8.5% 8.8% 9.4% 4Q11 4Q12 -$166 4Q11 4Q12 (1) Comprehensive Financing Expense = Interest expense Interest income 19

20 Pesos (Millions) Main Balance Sheet Accounts Trade Accounts Receivable Inventory Consumer USA Commercial (BAF) $16,500 $1,573 $1, % $18,661 $1,573 $2,332 $2, % $1,951 Consumer Mexico $13,087 $14,756 Net Debt and Bank Deposits +7.6% $14,950 $16,079 Net Debt $4,514 $4,080 Stockholder s Equity +3.8% $8,254 $8,566 Bank Deposits $10,436 $11,999 20

21 Agenda 2012 Highlights Operating and Financial Results 4Q12 Famsa Mexico Banco Ahorro Famsa Famsa USA Consolidated Financial Results 4Q Guidance 21

22 2013 Guidance Stores and Banking Branches Net Sales and EBITDA 2013 Openings Famsa Mexico 15 Banco Ahorro Famsa (1) 45 Famsa USA Guidance Consolidated Net Sales $15,000 to $15,300 Consolidated EBITDA $2,550 to $2,700 Pesos (Millions) Consolidated Net Sales Growth +7.1% to +9.3% Same Store Sales Growth Famsa Mexico +6.0% to +8.0% Famsa USA +3.5% to +6.5% (1) Includes bank branches set up inside Famsa Mexico s new stores, as well as independent bank branches 22

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