Tenth Annual Chile Conference Santander GLOBAL BANKING & MARKETS

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Transcription:

Tenth Annual Chile Conference Santander GLOBAL BANKING & MARKETS

AGENDA Company Overview Investment Plan Outlook for 2009-2010 2

Company in a snapshot Largest Latin American IT Services Network Founded in 1974, 35 years of experience A public company since November 2006 Present in 9 countries across Latin America Over 8,000 IT systems professionals US$ 671 million in Revenues in 2008 US$ 89 million in Cash and -US$ 37 million in Net Debt for 1H09 3

Complete offer in the main IT segments Leading regional IT solution provider with a full offer in the main segments of the IT industry The only LatAm-controlled company with an extensive regional network IT Services Applications Platforms Outsourcing IT management and support Projects and systems integration Professional services Specialized consultancy and advice Software solutions Industry-specific solutions Development of tailormade software Implementation, support, maintenance and updating of versions Servers PCs Printers Storage and back-up Communications equipment Basic software (data bases, operating systems, etc.) 4

Extensive regional network Mexico Costa Rica Colombia MEXICO COSTA RICA COLOMBIA +50 Offices Ecuador Peru ECUADOR BRAZIL +9,000 Brazil PERU Employees Uruguay Argentina Chile CHILE ARGENTINA URUGUAY +1,000 Cities under coverage 5

Leading regional Full IT Solution Provider Leader in Systems Integration projects, Technical Support and IT Outsourcing Positioned in the corporate market as an independent full IT services provider, with world class credentials and certifications Vast experience delivering large-scale projects with important social and economic impact Business model based on the development of long-term relationships and proximity to customers US$ 350 million Investment plan intended to consolidate its leading position in the region Positive financial results driven by successful regional expansion, increase of value added services and strengthening of the revenue backlog 6

Strong customer base Manufacturing Finance Telecom Retail Our customers are leading companies in their industries Health Energy Services & Utilities Public Sector More than 5,000 throughout Latin America 7

8 Alliances with world class vendors

Systematic growth in revenues and results Consolidated revenues (US$ thousands) Operating income (US$ thousands) CAGR=25.2% 671,335 CAGR=33.9% 80,330 458,722 52,627 341,991 343,327 33,449 37,392 12.0% 11.5% 10.9% 9.8% 2005 2006 2007 2008 2005 2006 2007 2008 Operating Margin Net Income (US$ thousands) EBITDA (US$ thousands) CAGR=28.4% 115,279 37,168 39,499 38,008 83,557 60,107 20,928 54,453 6.1% 10.8% 8.6% 5.7% 15.9% 17.5% 18.2% 17.2% 2005 2006 2007 2008 Net Margin 2005 2006 2007 2008 EBITDA Margin All figures are converted to US dollars using the month-end exchange rate of Dec 31, 2008, and considering a constant Chilean pesos base. 9

2008 Highlights US$ 671 Million Consolidated revenues with 46.3% of growth Consolidated revenues coming from operations outside Chile 56.5% One of the most important IT Services firms in Brazil Solid Financial Position US$ 611.3 million in new deals signed in 2008 149.4% 48.4% 39.1% Growth in IT Services business 38.0% of growth in EBITDA Growth in new deals closed compared to 2007 US$ 115 Million 10

1H09 Highlights 15.9% Net income growth Consolidated EBITDA margin improvement of 30 bp 17.4% 170 bp 20.8% Brazil s EBITDA margin improvement Consolidated revenues Operating income growth for operations outside Chile US$ 323 Million US$ 274.2 million in new deals signed in 1H09 US$ 89.2 million in Cash in 1H09 11

2008 and 1H09 income statement (in ThUS$) 2007 2008 Var% 07/08 1H08 * 1H09 Var% 08*/09 Revenues 458,722 671,335 46.3% 317,442 322,584 1.6% Platforms 127,327 162,422 27.6% 79,400 86,725 9.2% IT Services 289,132 429,112 48.4% 203,373 191,160-6.0% Applications 42,263 79,801 88.8% 34,670 44,699 28.9% Operating Income 52,627 80,330 52.6% 37,165 36,808-1.0% Operating Margin 11.5% 12.0% 11.7% 11.4% EBITDA 83,557 115,279 38.0% 57,229 56,043-2.1% EBITDA Margin 18.2% 17.2% 18.0% 17.4% Devaluation of currencies in Latin America had a strong effect on the decrease in revenues and results reported by international operations (ex-chile) Considering 1H08 re-expressed figures, consolidated revenues grew by 1.6% at 1H09, while operating income and EBITDA remained at similar levels to those obtained in 1H08 2007 and 2008 figures are converted to US dollars as of Dec 31, 2008, and considering a constant Chilean pesos base. 1H08 * figures have been re-expressed using 2009 exchange rates, in order to make them comparable to 1H09 figures. 12

Regional performance CHILE (in ThUS$) 2007 2008 Var % 1H08 * 1H09 Var % Revenues 264,969 292,213 10.3% 156,192 160,562 2.8% Operating Income 38,227 52,826 38.2% 26,682 24,515-8.1% Operating Margin 14.4% 18.1% 17.1% 15.3% EBITDA 63,718 79,126 24.2% 42,430 39,415-7.1% EBITDA Margin 24.0% 27.1% 27.2% 24.5% BRAZIL Revenues 126,193 267,598 112.1% 105,273 108,249 2.8% Operating Income 8,432 19,065 126.1% 6,164 7,720 25.2% Operating Margin 6.7% 7.1% 5.9% 7.1% EBITDA 11,457 23,539 105.4% 8,125 10,123 24.6% EBITDA Margin 9.1% 8.8% 7.7% 9.4% MEXICO Revenues 30,074 33,581 11.7% 12,617 15,159 20.1% Operating Income 2,912 3,957 35.9% 1,098 1,632 48.6% Operating Margin 9.7% 11.8% 8.7% 10.8% EBITDA 3,271 4,589 40.3% 1,664 1,906 14.6% EBITDA Margin 10.9% 13.7% 13.2% 12.6% OPLA Revenues 37,486 77,943 107.9% 38,663 38,614-0.1% Operating Income 3,055 4,482 46.7% 2,915 2,941 0.9% Operating Margin 8.1% 5.8% 7.5% 7.6% EBITDA 5,111 8,025 57.0% 4,579 4,599 0.4% EBITDA Margin 13.6% 10.3% 11.8% 11.9% Growth in all business lines in 2008 Results & EBITDA improvements in 2008 Margin improvement outside Chile in 1H09 Growth in applications and platfoms businesses in 1H09 2007 and 2008 figures are converted to US dollars as of Dec 31, 2008, and considering a constant Chilean pesos base. 1H08 * figures have been re-expressed using 2009 exchange rates, in order to make them comparable to 1H09 figures. 13

AGENDA Company Overview Investment Plan Outlook for 2009-2010 14

Investment plan SONDA has set the basis for a successful regional expansion The groundwork performed throughout the region has enabled the Company to acquire a knowledge of Latin American markets and players, develop a successful M&A and integration strategy, and execute mega-integration projects GROWTH STRATEGY Acquisitions Increase participation in major outsourcing and systems integration projects in Latin America Broaden products and services offerings INVESTMENT PLAN US$ 350 million investment plan for the 2007-2009 period: US$ 200 MM for acquisitions within Latin America; US$ 150 MM for systems integration projects and maintenance CAPEX Oriented to growth opportunities mainly in Chile, Brazil, Mexico and Colombia 15

Acquisitions The PROCWORK acquisition places SONDA as one of the main IT Services providers in Brazil, the largest IT market in LatAm, and as the third largest SAP integrator in Latin America PROCWORK Main Regional SAP Integrator in LatAm Acquisition of RED COLOMBIA is complementary to SONDA s existing business in that country, positioning the company as one of the Top 5 largest IT Services providers in Colombia RED COLOMBIA Top 5 IT Services Providers in Colombia 16

Higher value added businesses become more relevant Revenue breakdown by Business line 2006 2008 + 48% Growth in IT Services in 2008 8.4% 11.9% Applications 31.6% 24.2% Applications Platforms Platforms 60.0% IT Services 63.9% IT Services 17

Businesses outside Chile become more important 2006 Revenue breakdown by Region 2008 + 56% Revenues come from outside Chile 15.5% Brazil 7.7% Mexico 39.9% Brazil 65.6% Chile 11.2% OPLA 43.5% Chile 5.0% Mexico 11.6% OPLA 18

New deals support a solid revenue base 1H08 7% Mexico 11% OPLA 32% Chile 1H09 5% Mexico 16% OPLA 38% Chile 50% Brazil 41% Brazil -1.0% 277.0 274.2 79.9 93.1 165.6 137.3 31.5 43.8 1H08 1H09 Platforms Applications IT Services US$ millions 19

Leadership in Brazil, driving our regional consolidation Integral offer of IT Services Portfolio of top-class customers (66 of the 100 largest companies in Brazil) Workforce of 5,500 people, including 2,200 SAP consultants National service coverage Attention to 175,000 IT users 79,000 SAP users served from Brazil in 4 countries (Brazil, Spain, Argentina and Chile) 20

AGENDA Company Overview Investment Plan Outlook for 2009-2010 21

Outlook for 2009-2010 1 Relevant actor in the Brazilian IT Services Industry 5 New contracts support a solid revenue base for next years 2 Solid financial position with adequate level of cash and low debt 6 Organic growth and new acquisitions in line with regional strategy 3 Focus on offering and selling full IT outsourcing services 7 Developing regional business with clients that would maximize the use of our services network 4 Deepening relationship with customer base and increase IT services cross-selling 8 Growth of 8.4% in IT industry in Latam for 2010, according to IDC forecast 9 Take advantage of synergies and opportunities to improve margins 22

23 Tel (56-2) 657 50 00 Fax (56-2) 657 54 10 Teatinos 500, Santiago, CHILE www.sonda.com