Conference Call 2Q10 Results

Similar documents
Conference Call 3Q10 Results

Reclassifications in the Income Statement to Better Reflect the Essence of the Operations in line with BRGAAP and IFRS

Conference Call 4Q2009 and FY 2009 Results

Conference Call 1Q11 Results

Earnings Conference Call 1Q14

Institutional Presentation November, 2010

Conference Call 2Q17

Management Report 3. Balance Sheets 21. Statements of Income 23. Statements of Cash Flows 24. Statements of Comprehensive Income 25

LOJAS RENNER ANNOUNCES TOTAL NET REVENUE OF R$ MILLION IN 3Q08

Institutional Presentation. January, José Galló: CEO

3Q17 Results. CONFERENCE CALL ON RESULTS October 25, :00 p.m. (Brazil) / 11:00 a.m. (US-EST)

2Q10 Conference Call Presentation (Only in Portuguese)

4Q17 Results. CONFERENCE CALL ON RESULTS February 09, :00 p.m. (Brazil) / 10:00 a.m. (US-EST)

LOJAS RENNER S.A. EARNINGS RESULTS FOR THE FOURTH QUARTER (4Q15) LOJAS RENNER S.A.

1Q18 Earnings Presentation

INSTITUTIONAL PRESENTATION 3Q18. p. 1

1Q18 Earnings Conference Call

3Q10 Conference Call Presentation (Only in Portuguese)

4Q16 Results. CONFERENCE CALL ON RESULTS February 10, :00 p.m. (Brazil) / a.m. (US-EST)

Marisa at a Glance. Largest women fashion and underwear retailer in Brazil. Focus on the middle class. 63 years of track record.

Successful Strategy Performance reflects balanced portfolio structure. April, 2013

Successful Strategy Performance reflects balanced portfolio structure. August, 2013

Telecom Industry Trends FROM 2017, BRAZILIAN ECONOMY IS EXPECTED TO PRESENT GDP GROWTH, WITH CONTINUOUS MARKET INCREASE

Institutional Presentation. March

Results 3Q18. October 25, 2018 B3: LREN3; USOTC:LRENY. CONFERENCE CALL ON RESULTS October :00 p.m. (Brazil) / 12 noon (US-EST)

1Q17. BH Shopping, Belo Horizonte

Schedule. I. BUSINESS ENVIRONMENT Gilson Finkelsztain - CEO

ANALYST MEETING EINDHOVEN, AUGUST 7, 2008 Results first half year 2008 Harrie Noy Chief Executive Officer. Imagine the result

Conference Call 1Q11. (Only in Portuguese)

FY 2014 PLAN Conference 2011 Call September 09, 2014

Equity interest in the Belo Monte Hydroelectric Plant October 26, 2011

Nelson Jamel CFO. November, 2010

Conference Call 3Q11. (Only in Portuguese)

Successful Strategy Mr. Djalma Morais, CEO Mr. Luiz Fernando Rolla, CFO

Light S.A. Overview & Strategy. Rio de Janeiro 3Q18

XML Publisher Balance Sheet Vision Operations (USA) Feb-02

Discussion Material October, 2017

Brasil Brokers announces its 4Q08 results

Results 4Q18. Feb. 28, GRU (SP) SDU (RJ) Fare: US$62

TRISUL S.A. ANNOUNCES 1Q14 RESULTS

Discussion Material November, ParkShoppingSãoCaetano São Caetano (SP) 1

Fixed Income November, ParkShoppingSãoCaetano São Caetano (SP) 1

TRISUL S.A. ANNOUNCES 3Q14 AND 9M14 RESULTS

Earnings Release 2Q13

Institutional Presentation December 2010

Brasil Brokers announces its 3Q09 results

Common stock prices 1. New York Stock Exchange indexes (Dec. 31,1965=50)2. Transportation. Utility 3. Finance

4Q16. Discussion Material

2Q17 RESULTS. Conference Call: Aug/11th :00 (BZ) / 13:00 (ET) Dial-in: Portuguese: +55 (11) English: +1 (646)

Discussion Material November Q16

3Q16 EARNINGS RELEASE. Viver Announces its Results for the Third Quarter of Highlights

1Q15. Earnings Release. Investor Relations: Frederico Villa CFO and IRO. 1Q15 Conference Call: English. Derek Tang Manager

Conference Call 4Q11

1Q16 Results. Investor Relations Contact: Felipe Enck Gonçalves CFO and Investor Relations Director

Banco Bradesco S.A. Calendar of Corporate Events

2 nd QUARTER 2015 RESULTS

Financial & Business Highlights For the Year Ended June 30, 2017

Renato Rique Renato Botelho Mauro Junqueira Aliansce opp ing Centers Tel.: +55 (21) ri.aliansce.com.

EARNINGS RELEASE 1Q18 RESULTADOS

Valid reports Net Revenue of R$412.1 million in 3Q17, down 3.2% from 3Q16 and up 5.2% from 2Q17.

1Q17 EARNINGS RELEASE

3Q14 RESULTS. Conference Call November 10, 2014

Earnings Conference Call OPÇÕES 1Q16

Net revenue: R$ 140.7mn in 3Q09 Ebitda: R$ 15.2mn in 3Q09 (EBITDA margin 10.8%) Net profit: R$ 14.0mn in 3Q09 Operating cash flow: R$ 55.

Earnings Presentation FIRST QUARTER 2016

Business & Financial Services December 2017

AES Tietê reports net margin of 42.3% in the 2 nd quarter of 2005

ANNUAL REPORT OF THE NATIONAL SYSTEM OF COOPERATIVE CREDIT - SNCC

4Q15 and 2015 Results

This presentation may include references and statements, planned synergies, estimates, projections of results, and future strategy for Banco do

! " " # #$ %" $ & # '(()

EBITDA + 23,5% vs Adjusted EBITDA of R$133.2 million Operational cash flow: R$ 138,6mn in 2013

Corporate presentation August 2018

Springs Global: focus on South America, with a more robust financial structure

APRESENTAÇÃO DE RESULTADOS 2T18 INSTITUTIONAL PRESENTATION 2T18. p. 1

Institutional Presentation 2016

TERMS OF REFERENCE FOR THE INVESTMENT COMMITTEE

T4F Entretenimento S.A.

Banco do Brasil 2010

JBS 3Q14 Results Presentation November 13 th, 2014

T4F Entretenimento S.A.

Investor Presentation 3Q16

EARNINGS RELEASE INVESTOR RELATIONS CONFERENCE CALLS. Carlos Alberto Correa CFO and Investor Relations Officer. English

2Q15 Earnings Release

Institutional Presentation June 2010

Fixed Income Presentation 3Q17

Banco Volkswagen S.A. Banco Volkswagen S.A. Banco Volkswagen S.A. Treasury - ABS Operations Rua Volkswagen, 291-5º andar São Paulo Brasil

Looking to the medium term

Earnings Conference Call OPÇÕES 2Q16

Reinforcing our undisputed leadership in the wireless sector in Brazil through the acquisition of

Driver Brasil Two. Banco Volkswagen S.A. Banco Volkswagen S.A. Banco Volkswagen S.A.

Institutional Presentation March, p. 1

EARNINGS RELEASE 1Q18

Earnings Release 4Q15 and 2015

Results 2Q17 FLRY3. July 2017

Ripley Corp. May st Quarter 2016 Results

This presentation may include forward-looking statements of future events or results according to regulations of the Brazilian and international

Results 2Q18. August 2, 2018

Corporate Presentation July New growth cycle and value innovation

1Q10 Results. Conference Call. Tenda. Alphaville. Gafisa. Investor Relations Contact Luiz Mauricio de Garcia Paula

Transcription:

Conference Call 2Q10 Results In Portuguese with simultaneous translation in English Time: 12:00 pm (US-ET) / 1:00 pm (Brazil) Access in English: +1 (786) 924 6977 Access in Portuguese: +55 (11) 4688 6361 Replay in English: +55 (11) 4688 6312 password: 47006 Replay in Portuguese: +55 (11) 4688 6312 password: 47005 1

Forward-Looking Statements Any statement made during this presentation referring to the Company s business outlook, projections and financial and operating goals represent beliefs and assumptions of the Management of Lojas Renner S.A and are based on information currently available to the Company. Future considerations are not a guarantee of performance. These involve risks, uncertainties and assumptions since they refer to forward-looking events and, therefore depend on circumstances that may not occur. The audience should understand that general economic and industry conditions, as well as other operating factors may affect the Company s future results and lead to outcomes that may be materially different from those expressed in such future considerations. Except where indicated to the contrary, the following financial and operating information is in conformity with Brazilian Corporate Law, incorporating the amendments in Law 11,638/07, and the comparisons refer to the second quarter (2Q) and first semester (1S). As from December 2007, the Company has begun to include revenues from financial services in Gross Operating Sales Revenue. However, in this report, comparisons, percentages of expenses, and operating margins are related to Net Revenue from Merchandise Sales. 2

Net Revenue from Merchandise Sales Net Revenue from Merchandise Sales R$ MM + 16.7% + 2.7% 1,070.2 + 8.7% + 13.6% 893.6 917.4 510.3 554.7 630.0 2Q08 2Q09 2Q10 1S08 1S09 1S10 2Q09/2Q08 2.1% 2Q10/2Q09 7.4% 1S09/1S08-4.0% 1S10/1S09 10.5% Same Store Sales Growth Same Store Sales Growth 3

Store Productivity Net Revenue from Merchandise Sales per m 2 R$ MM - 8.6% + 7.8% 4,285 4,221 3,915-3.1% + 5.8% 2,396 2,321 2,455 2Q08 2Q09 2Q10 1S08 1S09 1S10 4

Store Operations Geographical Distribution June 30 th, 2010 Selling Area & Number of Stores Thousand m 2 AC RR AM 2 1 RO MT 1 MS 1 PA 1 RS PR 10 17 AP DF GO 5 5 SP 39 SC TO 8 MA MG 7 PI BA 3 RJ 14 CE 2 ES 2 1 RN 1 PB 3 PE AL 1 SE 1 +12.3% 214.3 101 stores 240.6 115 stores + 7.8% 259.4 125 stores Stores Distribution Centers Jun.08 Jun.09 Jun.10 5

Gross Profit from Merchandise Sales Gross Profit & Gross Margin from Merchandise Sales R$ MM + 1.8% + 25.2% 542.7 + 8.4% 242.3 47.5% + 23.4% 262.6 47.3% 324.1 51.4% 425.9 433.6 47.7% 47.3% 50.7% Gross Profit Gross Margin from Retailing Operation 2Q08 2Q09 2Q10 1S08 1S09 1S10 Operating initiatives for development of the supply chain; Adjustments in the quantities of domestically-made products in relation to imports; Improvements in the composition of inventory and in procurement planning; Improvement of processes in the development of the collections; Better understanding of the characteristics of each region. 6

Selling Expenses Selling Expenses R$ MM + 7.0% + 9.3% Average Expenses per Store (R$ thousand) - 1.5% + 5.4% + 7.7% 232.0 248.1 271.2 1,170 1,153 124.9 131.7 141.8 24.5% 23.7% 22.5% 26.0% 27.0% 25.3% 2Q09 + 0.4% 2Q10 2Q08 2Q09 2Q10 1S08 1S09 1S10 2,206 2,214 Selling Expenses As a % of Net Revenues from Merchandise Sales New remuneration system for store employees adopted by the Company since 2008. 1S09 1S10 7

General & Administrative Expenses General & Administrative Expenses R$ MM Average Expenses per Store (R$ thousand) + 4.5% + 8.2% - 0.8% + 5.2% + 8.4% 80.6 84.2 91.1 411 407 43.9 46.2 50.1 8.6% 8.3% 8.0% 9.0% 9.2% 8.5% 2Q09-0.7% 2Q10 2Q08 2Q09 2Q10 1S08 1S09 1S10 749 743 G&A Expenses As a % of Net Revenues from Merchandise Sales Management s continuous efforts to cut corporate costs over the year. 1S09 1S10 8

Renner Card and Financial Services Result from Financial Services Breakdown (R$ MM) 2Q10 2Q09 1S10 1S09 Revenues 72.0 58.6 137.5 115.2 Recovery of Past Due Receivables (Related to Merchandise Sales) Additional Revenues Generated by Interest-bearing Plan 29.8 23.6 27.3 16.7 53.4 45.7 50.3 35.7 Personal Loans and Other Financial Services 18.6 14.6 38.4 29.2 Credit Losses, Net of Recoveries (28.6) (32.0) (52.2) (54.3) Merchandise Sales (10.9) (14.5) (16.6) (21.1) Additional Losses Generated by Interest-bearing Plan (12.1) (11.4) (25.3) (21.8) Personal Loans (5.6) (6.1) (10.3) (11.4) Operating Expenses (Renner Card & Financial Services) Total (11.9) 31.5 (9.6) 17.0 (21.4) 63.9 (17.4) 43.5 % of EBITDA 20.2% 17.2% 27.5% 30.9% Result from Financial Services (R$ MM) Renner Card (Related to Merchandise Sales) Financial Services (0+8, Personal Loans and Other Financial Services) Operating Expenses (Renner Card & Financial Services) 2Q10 2Q09 1S10 1S09 18.9 12.8 36.8 29.2 24.5 13.8 48.5 31.7 (11.9) (9.6) (21.4) (17.4) Total 31.5 17.0 63.9 43.5 9

Total EBITDA EBITDA and EBITDA Margin R$ MM + 65.1% + 57.8% - 1.2% 232.6 + 13.5% 156.0 142.5 140.9 87.1 98.8 24.8% 17.8% 17.1% 16.0% 15.4% 21.7% EBITDA EBITDA Margin 2Q08 2Q09 2Q10 1S08 1S09 1S10 15.4% 16.1% 22.2% EBITDA/ Company s Total Net Revenues 14.3% 13.6% 19.3% EBITDA/ Company s Total Net Revenues Better volumes of sales; Higher gross margin; Operating leverage; Higher results from financial services. 10

EBITDA from Retailing Operation EBITDA Reconciliation (R$ MM) 2Q10 2Q09 1S10 1S09 Net Income 91.0 47.8 127.9 58.7 ( + ) Income and Social Contribution Taxes 45.7 24.7 64.3 30.2 (+/-) Result from Write-off of Fixed Assets 0.4 0.2 0.8 0.1 (+/- ) Financial Result (3.6) 3.0 (5.6) 7.0 ( + ) Depreciation and Amortization 17.9 18.3 36.7 36.5 ( + ) Stock Option Plan 4.6 4.8 8.5 8.4 EBITDA 156.0 98.8 232.6 140.9 EBITDA Margin (over Net Revenues from Merchandise Sales) 24.8% 17.8% 21.7% 15.4% EBITDA from Retailing Operation 2Q10 2Q09 1S10 1S09 ( - ) Financial Services Result 31.5 17.0 63.9 43.5 EBITDA from Retailing Operation 124.5 81.8 168.7 97.4 EBITDA Margin from Retailing Operation (over Net Revenues from Merchandise Sales) 19.8% 14.7% 15.8% 10.6% 11

Financial Results & Cash Position Financial Result Financial Result (R$ MM) 2Q10 2Q09 1S10 1S09 Financial Revenues 11.8 5.7 22.2 10.5 Financial Expenses (2.2) (1.9) (5.2) (3.8) Net Effect of Adjustment of Long-Term Taxes to Present Value 0.8 (0.7) 1.1 (1.2) Foreign Exchange Variation, Net 0.0 1.8 0.3 1.8 Cost of Financing Delinquent Customers, Net (6.8) (7.9) (12.8) (14.3) Financial Result 3.6 (3.0) 5.6 (7.0) Cash and Cash Equivalents, Net Cash and Cash Equivalents, Net (R$ MM) Jun.10 Mar.10 Jun.09 Cash and Cash Equivalents 359.1 390.8 194.4 Loans and Financing (149.8) (147.7) (164.2) Short term (118.9) (114.6) (124.5) Long term (30.9) (33.1) (39.7) Cash and Cash Equivalents, Net 209.3 243.1 30.2 12

Net Income Net Income R$ MM ROIC 1 (%) + 117.9% 15.5% + 90.2% - 14.5% 127.9 6.7% 10.5% 8.7% + 9.8% 43.5 8.5% 47.8 8.6% 91.0 14.4% 68.6 7.7% 58.7 6.4% 11.9% 2Q09 2Q10 1S09 1S10 Net Income 2Q08 2Q09 2Q10 1S08 1S09 1S10 Net Margin 7.7% 7.8% 13.0% 6.9% 5.7% 10.6% Net Income / Company s Total Net Revenues Net Income / Company s Total Net Revenues 1 ROIC calculated based on quarterly disclosed data. ROIC = NOPAT / Invested Operating Capital 13

Investments (CAPEX) CAPEX Evolution R$ MM 48.5 30.4 21.5 20.6 27.9 36.4 2Q08 2Q09 2Q10 1S08 1S09 1S10 CAPEX Summary (R$ MM) 2Q10 2Q09 1S10 1S09 New Stores 15.4 14.8 23.1 20.6 Remodeling of Instalations 1.1 2.3 1.7 2.9 IT Equipment & Systems 3.6 1.3 5.7 1.3 Others 0.5 3.1 5.9 3.1 Total 20.6 21.5 36.4 27.9 14

Expansion Plan City Location Date 1 Maceió - AL Shopping Iguatemi Maceió March 2 Joinville - SC Joinville Garten Shopping April 3 São Paulo - SP Avenida Paulista May 4 Campo Grande - RJ West Shopping June 5 São Paulo - SP Shopping Raposo Tavares June City Location Date 6 Palmas - TO Shopping Center Capim Dourado August 7 Belo Horizonte - MG Boulevard Shopping BH October 8 São Gonçalo - RJ Shopping Boulevard São Gonçalo November 9 Salvador - BA Salvador Norte Shopping November 10 Cotia - SP Shopping Granja Vianna November Total stores inaugurated in 1S10 5 stores 11 Santa Maria - RS Royal Plaza Shopping Center November Total stores to be inaugurated in 2S10 6 stores City Location Date 1 Caxias do Sul - RS San Pelegrino Shopping Mall October 2 Salvador - BA Shopping Center Paralela November 3 Franca - SP Franca Shopping Center November Compact stores to be inaugurated in 2S10 3 stores 15

Balance Sheet In R$ MM Jun.30.10 Part. Mar.31.10 Part. Jun.30.09 Part. Cash & Cash Equivalents 359.1 19% 390.8 21% 194.4 12% Trade Account Receivables 690.2 37% 625.3 34% 634.3 40% Inventories 285.8 15% 283.0 15% 231.2 15% Inventories 280.0 15% 273.3 14% 215.2 14% Imports in Transit 5.8 0% 9.6 1% 16.0 1% Others 134.3 7% 132.8 8% 126.0 8% Permanent Assets 402.5 22% 400.3 22% 400.4 25% TOTAL ASSETS 1,871.9 100% 1,832.2 100% 1,586.3 100% Loans and Financing 118.9 6% 114.6 6% 124.5 8% Financing - Financed Sales and Personal Loans 285.4 15% 267.3 15% 217.0 14% Suppliers 243.2 13% 212.5 12% 184.0 11% Commercial Suppliers 377.0 20% 302.6 17% 254.6 16% Antecipation of Payments (153.0) -8% (124.7) -7% (108.8) -7% Supplier of Material for Consumption 19.2 1% 34.7 2% 38.2 2% Taxes and Contributions Payable 93.1 5% 61.3 3% 89.7 6% Others 122.3 7% 185.4 9% 109.3 7% Not Current Liabilities 93.4 5% 83.1 5% 83.0 5% Shareholders' Equity 915.6 49% 908.0 50% 778.8 49% TOTAL LIABILITIES 1,871.9 100% 1,832.2 100% 1,586.3 100% 16

Renner Card Number of Cards Issued Millions 12.7 + 12.5% 14.3 + 11.8% 16.0 Jun.08 Jun.09 Jun.10 Renner Card Average Ticket R$ + 9.6% 117.30 128.53 + 7.4% 138.08 + 6.6% 110.35 + 9.1% 117.63 128.31 2Q08 2Q09 2Q10 1S08 1S09 1S10 17

Payment Options 2 nd Quarter, 2010 2 nd Quarter, 2009 Renner Card (0+8) 13.4% Renner Card (0+5) 44.4% Renner Card (0+8) 12.1% Renner Card (0+5) 49.4% Cash 21.4% Cash 19.9% Other Credit Cards 20.8% Sales using the Renner Card 57.8% Other Credit Cards 18.6% Sales using the Renner Card 61.5% 1 st Semester, 2010 1 st Semester, 2009 Renner Card (0+8) 13.0% Renner Card (0+5) 44.0% Renner Card (0+8) 10.8% Renner Card (0+5) 49.9% Cash 22.7% Cash 21.2% Other Credit Cards 20.3% Sales using the Renner Card 57.0% Other Credit Cards 18.1% 18 Sales using the Renner Card 60.7%

Employees Number of Employees + 1.3% + 15.8% 1,594 new employees 11,671 9,949 10,077 101 stores 115 stores 125 stores Jun.08 Jun.09 Jun.10 New Hiring of Personnel by Area: Administrative: 424 new employees Stores: 1.170 new employees 19

300 250 200 150 100 50 0 20 May-10 Jun-10 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 Stock Appreciation Last 12 months Base 100 LREN3 +126.6% IBOV + 18.4% R$ 49.00 60,935 pts Jun-09 Jul-09 Aug-09 Sep-09

José Galló Chief Executive Officer Adalberto Santos Chief Financial Officer and IR Officer Paula Picinini Investor Relations Manager Diva Freire Investor Relations Analyst Katia Ramires Investor Relations Analyst Lúcia Andrade IR Assistant Investor Relations Team Tel. +55 (51) 2121 7183 / 2121 7006 / 2121 7045 / 2121-7044 ri_lojasrenner@lojasrenner.com.br www.lojasrenner.com.br/ri 21