30/04/ :21 skiron\roadshow\presentación Roadshow Script 2.ppt

Transcription

1 30/04/ :21 skiron\roadshow\presentación Roadshow Script 2.ppt 1

2 Agenda 4 Operating and Financial Results by Business Unit - 4 Consolidated Financial Results - 4 Q & A 2

3 The implementation of a comprehensive plan to fight the economic crisis has had solid progress Grupo Famsa: Initiatives 1 Financing Conclude Banco Ahorro Famsa s implementation Mitigate refinancing risk Reduce cost of funding Ensure liquidity Reduce 2009 Capex: 5 new stores MX, 3 USA Seek longer terms in funding Achieve Operation goals 2 Demand Reactivate core product demand (durable goods) Implement cross-business/cross-product promotions (e.g. Multisorteo) Improve shopping experience and continue direct mktg efforts (e.g. Gran Crédito) Diversify exposure to durable good demand sensitivity Reinforce personal loan offering Identify other products / services with good fit (e.g. insurance, optics, etc.) 3 Operation Achieve greater operating efficiency Adjust operating capacity to current market conditions (e.g. payroll, advertising) Identify areas of opportunity in operating processes (e.g. credit centralization) Optimize the use of working capital (e.g. inventory) Ensure / protect the quality of our Receivables Reinforce credit granting and collection processes Maintain a conservative perspective regarding credit granting 3

4 Grupo Famsa liquidated Ps$2,339 million in CerBurs and Bank debt; BAF deposits increased 70% 1 Financing Grupo Famsa: Commercial Paper and Bank Debt Grupo Famsa: Net Debt and Bank Deposits $1,000 $1,277 -$2,339 $1,103 $1,832 $3,132 $5,328 Bank Deposits $4,316 $182 $572 $3,500 CerBur IXE CerBur Vector Bank debt $6,094 $6,575 $5,474 $3,830 Net Debt 4Q08 (1) (1) 2Q08 3Q08 4Q08 (1) Does not include Banco Ahorro Famsa s Interbank loans 4

5 In February, BAF launched invercede to reduce avg. cost of funding and increase maturity Funding: Banco Ahorro Famsa 1 Financing $6, Interbank Loans IMAGEN INVERCEDE , Banking Branches 3,201 1, Promissory notes & CDs Promissory notes & CDs Deposits 1T08 2T08 3T08 4T08 1T09 5

6 Multiple efforts, in and outside our stores, are being implemented to stimulate demand / consumers 2 Demand Metacard - 251K customers with PLCC emitted by BAF (enhanced shopping experience) Gran Crédito - 127K customer applications Direct Mail - 980K letters Telemarketing - 275K effective phone calls Cashier pitch - 170K customers Multisorteo Millonario Famsacional Confianza - Trust is foundation for advertising USA Cross-product promotions - includes TV, video camera, Playstation or Xbox with Furniture purchase Repurchase promotions - no down payment, reduced rate for Select customers near liquidation 6

7 Satisfactory progress has also been achieved from cost reduction and expense control efforts 3 Operation Grupo Famsa: Operating Expense Variance (%) vs. vs. 4Q08 vs. vs. 4Q08 Payroll -0.4% -13.8% Advertising -5.4% -44.2% Office Supplies -13.4% -51.2% Travel Expenses -29.6% -38.9% Parcel Services -29.0% -47.8% Fuel -27.6% -26.9% Travel Expenses -27.9% -54.7% Office Supplies -33.3% -26.9% 7

8 5 stores were closed in Mexico and 2 stores in California have initiated their closure process Total Stores (13 new stores in the last twelve months) Total Retail Area (30,700M 2 added in the last twelve months) 3 Operation +3.2% % Number of stores M 2 (Thousands) Breakdown of Store Closure and Openings () Opened Closed Net Total Stores Famsa Mexico Famsa USA Banco Ahorro Famsa (1) Only older, smaller stores have been closed; all of them near full-format Famsa stores (1) Banking branches are installed within Famsa Mexico stores, and therefore do not increase retail area 8

9 Strong macro pressure over consumption continued impacting Famsa Mexico s sales and mix Famsa Mexico s Net Sales decreased -11.6% during Famsa Mexico: % Share of sales by product category Total: -11.6% SSS: -15.8% (1) $2, % 100% $2, % 36.8% Others % of Sales 15.6% 18.2% 20.2% 13.6% 15.5% 16.9% Mobile Phones Appliances Furniture 18.6% 17.3% Electronics (1) Nominal figures 9

10 Famsa USA continued limiting the effects of the economic slowdown; TX and Electronics outperfrom Famsa USA s Net Sales grew 43.1% during Famsa USA: % Share of sales by product category Total: +43.1% (Pesos) Total: +3.6% (USD) SSS: -6.6% (USD) $1, % 100% 9.7% 12.9% 7.1% 4.4% 8.9% 8.1% Others FamsatoFamsa Appliances $794 % of Sales 44.1% 36.5% Furniture 30.3% 38.2% Electronics (1) Nominal figures 10

11 Agenda 4 Operating and Financial Results by Business Unit - 4 Consolidated Financial Results - 4 Q & A 11

12 Sales Consolidated Net Sales Consolidated Product Mix +1.2% $3,337 $3,377 % of Sales 23.0% 28.4% 1.7% 11.8% 1.6% 8.8% 15.9% 12.9% 26.1% 23.8% Others Famsa-to-Famsa Mobile Phones Appliances Furniture 21.5% 24.6% Electronics Same Store Sales (%) Famsa USA: Share of Consolidated Net Sales Total Famsa Mexico Famsa USA % of Sales 23.8% 76.2% 33.6% 66.4% 12

13 Profitability Gross Income EBITDA $1, % $1,694 $ % $ % 50.2% 10.6% 6.4% Comprehensive Financing Expense Net Income $214 $110 $ % -50.6% $54 6.0% 6.3% 3.3% 1.6% 13

14 Main Balance Sheet Accounts Trade Accounts Receivable Inventories $10, % $12,764 $2, % $2, % 6.4% Net Debt and Bank Deposits $6, % $9,158 $597 $5,328 % Write-Off over Credit Sales Bank Deposits Stockholder s Equity $6, % $7,375 $6,075 $3,830 Net Debt 14

15 Agenda 4 Operating and Financial Results by Business Unit - 4 Consolidated Financial Results - 4 Q & A 15