4Q15 Earnings Presentation

Transcription

1 Earnings Presentation

2 2 Agenda 1 Highlights Consolidated Results Famsa Mexico... 6 Banco Famsa Famsa USA Financial Position Items Guidance

3 3 1. Highlights Full-year 2015 Consolidated results were higher than our announced Guidance Double-digit growth in Consolidated Net Sales of 13.5% YoY during Solid increase in Consolidated EBITDA of 29.7% YoY, reaching Ps.459 million in 2015 Sequential improvement in NPL, recording a 9.8% ratio as of year-end, a decrease of 440 bps. vs (14.2%) Bank deposits posted a significant growth of 24.5% YoY as of December 31, 2015, reaching Ps.18,359 million F O U R T H Q U A R T E R MX USA Continued growth trend in Net Sales, increasing by 12.4% YoY in MXP denominated SSS of Famsa USA increased by 23.6% YoY in Personal Loans, Motorcycles and Electronics continued fueling growth in Personal Loans and Famsa-to-Famsa Sales performed as top drivers, Marketing recording1 a YoY growth in of 36.0 and 38.2%, in US$, respectively

4 3Q13 4Q13 1Q14 2Q14 3Q14 1Q15 2Q15 3Q Consolidated Results Net Sales recorded a double-digit annual growth rate as we strengthened our sales mix Net Sales by country 5.2% 13.5% 4,983 4, % 11.0% 89.0% 2.4% 2.4% -2.3% 88.0% Same Store Sales (SSS) -1.1% 6.3% -1.1% 14, % 88.2% 11.8% 8.8% 16, % 87.2% % 7.1% 8.1% Famsa USA Famsa MX FAMSA ANTAD Net Sales by product mix 4, % 6.3% 5.2% 10.6% 13.4% 14.9% 18.0% 4, % 4.4% 5.3% 9.8% 12.6% 14.6% 17.3% 16.5% 17.4% Business-units 0.7% ,856 16, % 15.7% 3.9% 5.4% 5.8% 6.0% 10.0% 10.6% 13.1% 13.0% 13.3% 11.7% 15.8% 16.4% 20.1% 18.7% Retail-area 2.3% Others Computers Motorcycles Mobile Phones Appliances Electronics Furniture Personal Loans To be converted branches Banking branches PL USA Branches Stores USA 2014-U U m2* 2015-m2* Stores MX *m2 in thousands.

5 5 2. Consolidated Results Our results show solid growth in Operating Income and EBITDA Gross Profit 41.9% 18.2% 43.6% 1,839 2, % 6, % 46.3% 7,696 USA MX Operating Income 5.0% % 7.1% % 1, % 8.0% 1,331 USA MX EBITDA % 8.1% 9.2% % 1, % 10.7% 1, USA MX Financial expenses, net -11.3% 6.9% 5.4% % % 7.3 1, FX loss Net Interest

6 3Q13 4Q13 1Q14 2Q14 3Q14 1Q15 2Q15 3Q15 Computers Furniture Appliances Mobile Phones Electronics Motorcycles Personal Loans 6 3. Famsa Mexico Personal Loans and Motorcycles posted strong growth in Sales by product mix 3, % 4, % 16.1% 4.6% 6.4% 6.0% 5.8% 12.4% 13.9% 11.2% 11.9% 14.7% 14.8% 13.6% 12.8% 17.6% 18.5% 13, % 14, % 16.6% 4.0% 5.4% 6.8% 6.6% 11.2% 11.2% 12.0% 11.4% 12.9% 11.4% 13.2% 13.1% 21.9% 20.1% Others Computers Motorcycles Furniture Mobile Phones Electronics Appliances Personal Loans Sales growth by product category () 20% 15% 10% 5% 0% -5% -10% -15% -20% Same Store Sales (SSS) 6.7% 3.8% -2.8% -5.7% -1.5% -1.4% 7.5% 10.0% 8.0% 11.5%

7 7 4. Banco Famsa Our bank deposits base grew by 24.5% YoY, reaching Ps.18,359 million as of year-end 2015 Bank Deposits 24.5% Loans Deposits 14,752 15,491 15,707 16,500 18,359 Famsa card, credit cards, microcredits, SMEs, Fovisste, enterprises, Credinero and Prendinero Savings, payroll, checks and investments 4.7% 4.4% 4.4% 4.2% 4.1% 1Q15 2Q15 3Q15 Services e-banking, ATMs, payroll, TPVs, remittances, money orders and insurance Bank Deposits Mix Time Deposits 72% Demand deposits 11% Opnl Availability 17% Time Deposits 71% Demand deposits 10% Opnl Availability 19%

8 Dec 13 Mar'14 Jun'14 Sep'14 Dec'14 Mar'15 Jun'15 Sep'15 Dec' Banco Famsa The NPL continued its sequential stabilization trend, falling to 9.8% as of December, 2015 Portfolio of Loans* 12.8% Portfolio of Loans Mix 15,266 15,506 15,747 16,405 17,215 Comm ercial 18% Comm ercial 23% Consumer 82% Consumer 77% 1Q15 2Q15 3Q15 Non-performing Loans Ratio (NPL)** 15.1% 15.7% 17.6% 16.2% 14.2% 13.3% 11.9% 10.4% 9.8% *Gross Balance **Includes credits discounted by payroll Source: Banco Famsa

9 9 4. Banco Famsa Our Commercial Loans Portfolio rose by 37.7% YoY for the full-year Commercial Loans Portfolio 37.7% 2,912 3,492 3,509 3,873 4,009 Commercial Loans Portfolio Mix Financial Inst. 5% Others 24% SME s 16% Microcredits 3% Corporate 52% Others 18% SME s 10% Microcredits 3% Corporate 69% 1Q15 2Q15 3Q15 Microcredits SMEs Enterprises #-Loans 4, Avg. Loan* Avg. Term Avg. Rate Ps.18, MMxp $29.1 MMxp 23 months 37 months 38 months 64.0% 10.43% 7.96% Guarantees No Guarantor/Solidary Obligor/Nafin Guarantor/ Solidary Obligor/Nafin Source: Grupo Famsa, Banco Famsa

10 10 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 Greater 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 the execution of guarantees and the selection of guarantors 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.

11 3Q13 4Q13 1Q14 2Q14 3Q14 1Q15 2Q15 3Q15 Computers Electronics Appliances Furniture Personal Loans Famsa to Famsa Famsa USA Personal Loans and Famsa-to-Famsa Sales performed as the top drivers of growth Sales by product mix % 3.6% 5.4% 7.3% 11.8% 16.6% 23.6% % 4.9% 3.1% 9.8% 11.3% 13.5% 53.0% 51.3% 1, % 3.6% 4.9% 6.8% 12.6% 16.7% 50.6% 21.3% 2, % 4.6% 3.3% 8.6% 12.4% 14.4% 51.5% Others Famsa to Famsa Computers Personal Loans Appliances Electronics Furniture 45% 30% 15% 0% -15% -30% -45% Sales growth by product category ()* Same Store Sales (SSS)* 2.4% 4.0% 1.3% 1.0% 0.4% 2.7% 3.4% 1.3% -3.7% -7.0% F to F *% variations are referenced to figures in US dollars.

12 12 6. Financial Position Items trade receivables rose in tandem with Net Sales growth Trade receivables Net debt & bank deposits +18.5% 27, % 23,402 2,756 4,009 20,690 2,105 Consumer USA 2,912 Commercial MX 5,938 Consumer MX 18,386 20,975 14,752 25,263 6,904 18,359 Net debt Bank deposits 11.6% Inventories +15.8% Stockholders equity +3.9% 2,121 2, % 10,280 10, % 2.8% 1.2% 2.8%

13 Guidance Improvement of profitability in Mexico and the US, maximizing performance and cash flow generation Openings of Stores and Banking Branches 2016 E Stores 7 Famsa Mexico 7 Banking Branches Including banking branches installed within new Famsa Mexico stores Operating Results E Consolidated Net Sales $16,605 $17,600 - $18,100 % YOY Growth 6.0% - 9.0% % YOY Growth in SSS Famsa Mexico 9.7% 5.0% - 8.0% Famsa USA (USD) 1.9% 3.0% - 5.0% Consolidated EBITDA $1,775 $2,000 - $2,100 % YOY Growth 12.7% % EBITDA Margin 10.7% 11.4% %

14 14 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.

15 15 Contact We have a strong commitment to keeping you updated. Please do not hesitate to contact us. Investor Relations Paloma Arellano paloma.arellano@famsa.com +52 (81)