25/07/ :39 skiron\roadshow\presentación Roadshow Script 2.ppt

Transcription

1 25/07/ :39 skiron\roadshow\presentación Roadshow Script 2.ppt 1

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

3 Grupo Famsa achieved Sales and EBITDA growth during the second quarter Consolidated Net Sales Consolidated EBITDA Same Store Sales 2008 (1) +2.0% Pesos (Millions) Same Store Sales (1) +2.1% $3, % $3,710 $6, % $7,048 Pesos (Millions) +5.5% $413 $435 $ % $ % 11.7% 11.8% 11.2% Same Store Sales (SSS): Famsa Mexico 2.1%, Famsa USA 2.4% EBITDA Margin: Pressured by consumption slowdown in Mexico, operating expenses related to Banco Ahorro Famsa ($250M 2008E), 36 new stores in MX and USA * Constant pesos of June 30, 2007 (1) Nominal figures, SSS real: -2.5% 3

4 Recent inflationary pressure in Mexico has had an impact on consumer confidence Mexico: Annual Inflation 0% -2% -4% -6% -8% -10% -12% -14% -16% Source: Banco de México, INEGI / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /06 Mexico: Annual Consumer Confidence Index Growth 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% Food Inflation General Inflation

5 Famsa Mexico works to overcome the effects of the current situation on its performance 1 Famsa Mexico s Net Sales grew 7.8% 2 Pesos (Millions) VMT 2T08 (1) +2.1% $2, % VMT % $2,895 $5, % $5,421 % of Sales Our three major categories have been impacted by the consumption slowdown Other Furniture Electronics White Goods 3 2Q07 Famsa Mexico mantains the implementation of targeted initiatives to compensate the effects of the current environment Traffic generation through door-to-door sales (Gran Crédito) Operating efficiency through detailed cost analysis and control Enhanced shopping experience through customer service indicator tracking Diversifying durable good exposure through personal loans * Constant pesos of June 30, 2007 (1) Nominal figures, SSS real: -2.7% 5

6 Our store network in Mexico increased with the opening of 3 stores during the second quarter Allende, Nuevo Leon. MX Famsa Mexico: New Store Location City ALLENDE, N.L. GUADALAJARA, JAL. ACTOPAN, HIDALGO Region Northeast Pacific Center Famsa Mexico: Retail Area Growth LTM (1) Total Stores Retail area (m 2 ) 6,127 36, ,824 (1) Last Twelve Months (LTM) 6

7 Banco Ahorro Famsa now operates 267 branches and continues obtaining solid implementation results Banking Branches Savings and Loans through Bank Branches 83 new bank branches 267 Accounts Savings: 218,084 Loans: 62,019 $929 Market funding Pesos (Millions) BAF funding bps spread $272 $603 $268 $315 $132 $92 $175 3Q07 4Q07 1Q08 3Q07 4Q07 1Q08 Savings Loans 7

8 In addition, important progress is being made to achieve the synergies between Famsa MX and BAF Funding Technological Platform Famsa Credit through Banco Ahorro Famsa + = Successful Pilot emission of banking debt through financial intermediaries Successful Pilot migration of consumer credit accounts from Famsa MX to Banco Ahorro Famsa 8

9 Famsa USA continues expanding its footprint and achieving sales growth Famsa USA s net sales grew 12.0% SSS % Famsa USA opened 2 stores in northern California Pesos (Millions) SSS (1) +2.4% $ % $789 $1, % $1,583 Stores Retail area (m 2 ) 2 5,043 LTM (2) 13 23,946 Total , % 10.9% 11.2% 9.0% % Famsa -to- Famsa * Constant pesos of June 30, 2007 (1) Nominal figures, SSS real: -1.6% (2) Last Twelve Months (LTM) 9

10 During, Electronics grew significantly and Chicago related expenses pressured EBITDA Increased demand in Electronics compensates recent slowdown in Furniture and White Goods Chicago expenses and slowdown in operating leverage impacted EBITDA margin expansion Other 8.8% 8.5% 8.4% % of Sales White Goods Electronics 3.5% 5.7% Furniture 2.1% 2T07 * 2T Ene-Jun 2007 Ene-Jun

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

12 Net Sales Consolidated Net Sales Consolidated Product Mix Pesos (Millions) +8.9% $3,710 $3,406 $6, % $7,048 % of Sales Other White Goods Electronics Furniture 2Q07 Same Store Sales (%) Famsa USA: Share of Consolidated Net Sales Total Famsa Mexico Famsa USA Q % of Sales 20.7% 21.3% 79.3% 78.7% Famsa USA Famsa Mexico * Constant pesos of June 30, Q07 12

13 Credit Sales Credit Sales (1) % Credit Sales over Consolidated Net Sales (1) +16.3% Pesos (Milions) $2, % $3,126 $5,070 $5, % 84.9% 80.6% 84.2% * Constant pesos of June 30, 2007 (1) Retail sales 13

14 Profitability Gross Income +17.3% $2,909 $3,412 EBITDA +5.4% $749 $ % $1,805 $1, % $413 $ % 48.6% 45.9% 48.4% 12.1% 11.7% 11.8% 11.2% Pesos (Millions) Comprehensive Financing Expense +46.9% $430 Net Income $ % $219 $ % $229 $292 $ % $ % 6.2% 4.6% 6.1% 2.8% 2.9% 4.0% 3.1% * Constant pesos of June 30,

15 Main Balance Sheet Accounts Trade Accounts Receivable Inventories +30.9% $10,882 $2, % $2,551 $8,311 Pesos (Millions) 2.8% 4.5% 2Q07 * Net Debt +27.6% $6,094 % Write-Off over Credit Sales 2Q07 * Stockholder s Equity $6, % $6,620 $4,774 2Q07 * * Constant pesos of June 30, Q07 * 15

16 Agenda 4Business Unit Operating and Financial Results 4Consolidated Financial Results 4Q & A 16