3Q15 Earnings Presentation

Transcription

1 Earnings Presentation

2 2 Agenda 1 Highlights Consolidated Results Famsa Mexico Banco Famsa Famsa USA Financial Position Items

3 3 1. Highlights YTD results are on track to achieve the full-year 2015 Guidance, after posting a solid performance Strong growth in Consolidated Net Sales of 10.8% YoY in Solid increase in Consolidated EBITDA, of 16.5% YoY in 2015 Lowest NPL Ratio figure of last 3 yrs. As of September 30, 2015 it decreased to 10.4% Bank deposits posted a double digit growth rate, achieving a 12.1% increase YoY as of September 30, 2015 MX THIRD QUARTER USA SSS growth trends above 2015 Guidance s figure. 8.0% YoY rise in, contributed to YTD 15 growth (+8.7% YoY) Motorcycles, Furniture and Appliances boosted this quarters sales US dollar denominated SSS of Famsa USA rose up 3.4% YoY during the Personal Loans outstands as a solid driver of growth, in increased 32.3% YoY

4 4 Net Sales by country 3, % 88.0% 10.8% 3, % 86.6% 10, % 88.0% 11.1% 2. Consolidated Results Net Sales recorded double digit growth as SSS increased 11, % 86.9% Famsa USA Famsa MX Net Sales by product mix 23.1% 17.0% 3.8% 5.0% 7.0% 7.0% 10.0% 10.8% 12.8% 12.8% 10.2% 11.6% 14.4% 15.5% 21.4% 17.5% 21.4% 15.9% 4.9% 3.7% 6.0% 6.4% 10.6% 10.0% 13.0% 13.2% 12.7% 10.5% 14.9% 16.0% 21.6% 19.2% Others Computers Motorcycles Mobile Phones Appliances Electronics Furniture Personal Loans YTD 14 YTD 15 YTD 14 YTD 15 Same Store Sales (SSS) 5.2% 2.4% 2.4% -1.1% -1.1% -2.3% 6.3% 8.8% 7.1% FAMSA ANTAD Business-units % Retail-area % To be converted branches Banking branches Stores USA Stores MX 3Q13 4Q13 1Q14 2Q14 1Q15 2Q15 -U. *m2 in thousands. -U. -m2* -m2*

5 5 2. Consolidated Results shows significant improvement in Gross Profit and EBITDA Gross Profit 11.4% 47.2% 47.4% ,508 1,630 1,698 1,891 4, % 564 4, % 5, , % USA MX EBITDA % % % 32 1, % % 1, % 102 1,214 USA MX YTD 14 YTD 15 YTD 14 YTD 15 Financial Expenses, net Net Income* 56.8% 8.1% 5.7% 70.6% 6.9% % YTD 14 YTD % 3.1% 2.1% -60.9% 2.6% % YTD 14 YTD 15 * Net Income (NI) was impacted by a Ps.222 million non-cash foreign exchange (FX) loss. Adjusting by FX loss, NI amounted to Ps.259 millon in vs. Ps.151 millon in.

6 6 3. Famsa Mexico Motorcycles, Furniture and Appliances continued to deliver solid growth Sales by product mix 3, % 3, % 18.1% 3.8% 5.0% 8.0% 7.8% 10.1% 9.9% 11.6% 12.2% 11.0% 9.6% 12.7% 12.9% 23.2% 18.8% Same Store Sales (SSS) 9, % 5.0% 7.2% 10.1% 12.0% 12.1% 9.7% 10, % 3.8% 6.9% 10.7% 11.5% 9.9% 13.0% 13.3% 23.7% 20.8% YTD 14 YTD 15 Others Computers Motorcycles Furniture Mobile Phones Electronics Appliances Personal Loans 10% 5% 0% -5% -10% -15% -20% Sales growth by product category 6.7% 7.5% 10.0% 8.0% 3.8% -2.8% -5.7% -1.5% -1.4% 3Q13 4Q13 1Q14 2Q14 1Q15 2Q15 Computers Personal Loans Electronics Mobile Phones Appliances Furniture Motorcycles

7 7 4. Banco Famsa Bank Deposits grew 12.1% year over year, reaching $16,500 MXP as of September 30, 2015 Portfolio of Loans* 9.4% 14,992 15,266 15,506 15,747 16,405 Loans Famsa card, credit cards, microcredits, SMEs, Fovisste, enterprises, Credinero and Prendinero Services e-banking, ATMs, payroll, TPV s, remittances, money orders and insurance Deposits Savings, payroll, checks and investments 1Q15 2Q15 Bank Deposits 12.1% 14,721 14,752 15,492 15,707 16, % 4.7% 4.4% 4.4% 4.2% 4Q15 1Q15 2Q15 *Gross Balance

8 8 4. Banco Famsa The NPL ratio stabilizes further towards lower levels Commercial Loans Portfolio Capitalization Index (ICAP) 2, % 3, % 11.0% 4.0% 22.0% 5.1% 2.0% 74.0% 86.0% IMOR - Commercial Non-Performing Loans Ratio (NPL)* Microcredits SMEs Enterprises 12.40% 12.30% 16.2% 15.6% 14.8% 14.2% 14.5% 14.9% 13.3% 12.6% 12.6% 11.9% 11.0% 10.7% 10.4% Sep 14 Oct'14 Nov'14 Dec'14 Jan'15 Feb'15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 *Includes credits discounted by payroll Source: Banco Famsa

9 9 4. Banco Famsa We have defined a clear and concise strategy to strengthen Banco Famsa s operation and profits Base of deposits Deployment of diverse campaigns to expand our current base of deposits through greater advertising of our attractive yields of return 6 1 Control in origination Higher use of filters and tools (credit bureau, investigation, data bases, etc.) to achieve an adequate credit risk profile Platform enhancement Enhancement of our technological and human platform with state-ofthe-art software and better backoffice procedures 5 2 Better collection Greater deployment of collectors and process enhancement in guarantees execution and guarantors selection Portfolio management Higher share of SME loans and enhancement of retail loans profile 4 3 Upsale of services Wider portfolio (insurance, e-banking, money orders, etc.) to obtain higher sales The punctual execution of these strategies is oriented to maximize Banco Famsa s potential by taking advantage of Grupo Famsa s positioning and brand awareness in its legacy retail business.

10 10 5. Famsa USA Personal Loans and Famsa to Famsa delivered the strongest results during Sales by product mix % 3.0% 4.8% 7.1% 13.5% 16.3% 27.4% % 3.9% 3.7% 9.2% 12.4% 14.3% 5.4% 1, % 3.4% 4.9% 8.2% 3.6% 4.7% 12.8% 6.7% 13.0% 14.8% 16.8% 51.0% 50.4% 50.4% 49.9% YTD 14 YTD 15 Same Store Sales (SSS)* 4.0% 20.4% 1, % 1.3% 1.0% 0.4% Others Famsa to Famsa Computers Personal Loans Appliances Electronics Furniture 2.7% 3.4% Sales growth by product category ()* 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% -3.7% -7.0% 3Q13 4Q13 1Q14 Computers Electronics Appliances Furniture Famsa to Famsa 2Q14 1Q15 2Q15 Personal Loans F to F *Figures in US dollars.

11 11 6. Financial Position Items Trade receivables growth is in line with Net Sales Trade receivables 23,402 2,105 2, % 26,317 2,612 3,873 18,386 19,832 Consumer USA Commercial MX Consumer MX Net debt and bank deposits 20,690 5, % 24,037 7,537 14,752 16, % 11.6% Net debt Bank deposits 11.6% Inventories Stockholders equity +4.5% +17.2% 2,121 2,487 10,280 10, % 5.2% 1.2% 5.7% 2.9% 3.3% 2.8% 2.8%

12 12 6. Financial Position Items: Debt structure Our indebtedness, expressed in Mexican pesos, has increased in tandem with the exchange rate Debt profile Funding Sources 7,796 22% 17% 12.5% 8,767 20% 22% 22,548 7% 28% 25,267 9% 26% 61% 58% 65% 65% Foreign Debt Credit lines Debt Certificates Bank Deposits Debt Certificates Credit Lines Debt maturity schedule 4,225 Funding strategy 2, ,420 1, ,225 1, older 24% 28% 48% Foreign Debt Credit lines Debt Certificates Wider sources of funding Higher capacity of indebtedness Optimal liability management BAF Lower funding cost

13 13 Note On 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.

14 14 Contact We have a strong commitment to keep you updated, please do not hesitate to contact us Investor Relations Paloma Arellano paloma.arellano@famsa.com +52 (81)