skiron\roadshow\presentación Roadshow Script 2.ppt

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1 26/10/07 10:40 skiron\roadshow\presentación Roadshow Script 2.ppt 1

2 Agenda BU Operating and Financial Results 3Q07 Consolidated Financial Results 3Q07 Q & A 2

3 Grupo Famsa s consolidated Net Sales and EBITDA continue growing Grupo Famsa s three business units 1. Famsa Mexico 2. Famsa Inc. (USA) 3. Banco Ahorro Famsa Consolidated Net Sales Consolidated EBITDA Same Store Sales % Same Store Sales 3Q07-3.3% +10.3% +7.4% $9,761 $1,012 $8, % $3,021 3Q06-0.1% $3,322 3Q07 $1,087 $ Same Store Sales (SSS): Decrease in Mexico, Increase in the United States Note: Constant pesos, Sep07 (Millions) $ % 9.8% 3Q06 3Q % % 2007 % EBITDA / Sales: Pressured by expenses ralated to Banco Ahorro Famsa (~1% of sales 3Q07), New store openings, and Same store sales in Mexico 3

4 Year-to-date, we have opened 36 new stores and 63 banking branches Total Stores Selling Area (Square Meters) (47 new stores in the last twelve months) (86,100M2 added in the last 12 months) +14.0% +21.8% 382 M2 (Thousands) Number of Stores 335 3Q06 3Q07 Breakdown: Store and Bank openings T07 7 Jan-Sep Total 343 United States Banking Branches Personal Loan Booths Mexico 54 (1) 12 of the 15 new stores opened so far in the United States correspond to the acquisition of La Canasta (2) Personal Loan Booths will be gradually substituted by banking branches as the implementation of the bank progresses 4

5 Sales in Mexico grew moderately due to a generalized slowdown in consumer spending 1 Net Sales1 in Mexico grew 1.2% 2 mainly due to a decrease in Electronics, Furniture and Seasonal Products SSS % 100% 100% Otros Seasonal (-0.4) Clothing SSS 3Q07-7.3% +1.2% % of Sales Pesos Sep07 (Millions) +4.0% Cellular Phones Electronics (-2.4) White Goods Furniture (-0.7) 3 caused by a slowdown in consumer spending that has impacted traffic, average sales ticket and cash sales especially in the larger metropolitan areas (1) Retail sales, does not include Mayoramsa 5

6 Despite the current situation in Mexico, Grupo Famsa is committed to its growth plan 7 new store locations 3Q07 Mexico City Region MONTERREY, N.L. North SALTILLO, COAH. North CD VICTORIA, TAMPS. Northeast LEON, GTO. Center PUEBLA, PUE. Center GUADALAJARA, JAL. Center MINATITLAN, VER. Southeast Grupo Famsa continues strengthening its position in Mexico in order to obtain significant growth and gain substantial market share, in both its commercial and banking businesses, as soon as consumer spedning shows some signs of recovery. 6

7 Our operations in the United States keep delivering extraordinary results 1 2 Net Sales in the US grew more than 60% SSS Accum achieving economies of scale that consistently improve our EBITDA margin +48.9% % EBITDA / Sales Pesos Sep07 (Thousands) +13.6% SSS 3Q % +62.0% 10.4% 7.8% 13.5% 9.8% % Famsa To Famsa Other Developments: United States 3Q07 La Cansata integration: Concluded successfully the integration of 12 stores One new store: Mesa, Arizona Brand Awareness: Increased brand awareness in our current markets 7

8 Banco Ahorro Famsa will open 177 banking branches by year-end Breakdown of Banco Ahorro Famsa branch openings Openings to date (Oct 2007) New Openings 2007 Total 2007 México DF Monterrey Noreste GDL, SLP, QRO Chihuahua Centro Torreón Coahuila Openings 2008 Golfo 31 Baja California 16 Centro Sur 15 Sonora 15 Occidente 11 TOTAL Banking Branches 8

9 Our bank has deposits for more than $130M and has allocated almost $90M in personal loans Deposits: Banco Ahorro Famsa1 TOTAL Accounts Total Deposits Average Balance 49,246 $133,076,729 $2,702 Allocation: Banco Ahorro Famsa1 Total Requests 37,755 (1) Figures as of September 30, 2007 Authorized Requests 17,125 % Authorized Average Loan Total Allocation 45% $6,064 $89,974,000 9

10 The average cost of funding for Banco Ahorro Famsa has decreased to 5.4% CNBV: Average Cost of Funding (March / June 2007) Current cost of debt FAMSA: 9.5% Industry Averages March June Given the company s current net debt ($5,175), each percentage point reduction in the cost of funding translates into annual savings of roughly $52 million pesos. 10

11 Agenda BU Operating and Financial Results 3Q07 Consolidated Financial Results 3Q07 Q & A 11

12 Net Sales Consolidated Net Sales Consolidated Product Mix 100% 100% Other Famsa-to-Famsa Seasonal Clothing Cellular Phones % of Sales Pesos Sep07 (Millions) +10.3% +9.9% White Goods Electronics Furniture Breakdown: Net Sales Growth Net Sales: Share by Country 3Q07 (% of retail sales) Net Sales 3T % 3T07 9.9% Accumulated % 10.3% SSS Mexico United States 4.8% 9.3% -7.3% 13.9% 4.1% 3.6% Note: Constant pesos, Sep07 (Millions) -2.4% 13.6% USA 21.7% Mexico 78.3% 12

13 Credit Sales Pesos Sep07 (Millions) Credit Sales1 % Credit Sales over Consolidated Net Sales % +15.6% (1) Retail sales, does not include Mayoramsa Note: Constant pesos, Sep07 (Millions) 13

14 Margins Gross Margin +14.7% EBITDA +14.1% 43.3% +7.4% -0.1% 44.9% 43.8% 45.6% 10.8% Comprehensive Financing Expense +16.8% 9.8% 11.4% 11.1% Net Income +32.3% +27.5% +48.1% 4.8% 5.5% Note: Constant pesos, Sep07 (Millions) 4.7% 5.0% 2.2% 2.9% 3.0% 3.6% 14

15 Main Balance Sheet Accounts Trade Accounts Receivable Inventories +25.1% 2.73% +9.7% 3.18% Net Debt +48.4% Note: Constant pesos, Sep07 (Millions) % Write-off over Credit Sales Stockholder s Equity +9.4% 15

16 Agenda BU Operating and Financial Results 3Q07 Consolidated Financial Results 3Q07 Q & A 16