Companhia Brasileira De Distribuicao · BMFBOVESPA:PCAR3
Companhia Brasileira De Distribuicao — Brazilian Distribution Co Companhia Brasileira DE Distr CBD — Q4 2011 Earnings Presentation
21 slides from Companhia Brasileira De Distribuicao's earnings presentation, Feb 17, 2012
Slide 1: 4Q11 and 2011 Earnings Results
4Q11 AND 2011 EARNINGS RESULTS Grupo Pao de Acucar and Viavarejo (Globex) February 17, 2012 a vovatdjo *hova
Slide 2: Grupo Pao de Acucar - 4Q11 and 2011
GRUPO PAO DE ACUCAR - 4Q11 AND 2011 ["crestiotsacr 91 nosm em
Slide 3: 4Q11 and 2011 Highlights
4Q11 AND 2011 HIGHLIGHTS = Conclusion of the conversion of 221 Searching for excellence: process stores from CompreBem and Sendas improvement = Review of Assai’s management model = Integrated view of IT, logistics and back-office * Review of management and positioning - Operational Evolution model o
Slide 4: 4Q11 GPA Food Earnings
4Q11 GPA FOOD EARNINGS Supermarkets @a Proximity — BB necatoesta Castvand- Cary Gas Stations and Drugstores Sitio fl extra| GPA FOOD tonne OB Cae
Slide 5: 4Q11 and 2011 Highlights
4Q11 AND 2011 HIGHLIGHTS New layout Growth in customer traf Greater participation of perishables iwo-digit growth in ‘same-store’ Assorment adjusted to the new sales Consumer habits of the mi class ‘Accelerated turnover and New target: distributors and users increased return on capital Reduction of
Slide 6: Gross Sales of R$28.4 Bi in 2011
GROSS SALES OF R$28.4 BI IN 2011 Same-store sales gro\ (without Viavarejo) Gross Sales (RS mi) (oithout Viavarefo) > Same-store sales in 4Q11 Non-food stands out, up 13.6% > Up 8.7%, indicating faster pace vs. in 4Q11 and 9.6% in 2011 previous quarters > Real! growth above 2.0% > Larger than second
Slide 7: Gross Profit Up 11.2% in 4Q11
GROSS PROFIT UP 11.2% IN 4Q11 Gross Profit (RS mi) (thou Viavarefo) > Gross margin increase coupled with better sales mix > Higher participation of perishables, with Extra Super standing out > Assai’s gross margin increase of 0.9 p.p. vs 4Q10, with new focus on distributors and processors, in additi
Slide 8: Record EBITDA Margin at 9.0% in 4Q11
RECORD EBITDA MARGIN AT 9.0% IN 4Q11 EBITDA (RS mi) (without Viavarejo) ["CyoPeote ever 4011 AN 01 EDEN > Operating expenses dilution > Opex/net revenue ratio down from 17.8% in 4Q10 to 17.1% in 4Q11 > Sales up 10.3%, while expenses fall 5.7% > Opening of stores less concentrated in 4Q11 vs. 4Q10 >
Slide 9: 4Q11 Viavarejo (Globex) Earnings
4Q11 VIAVAREJO (GLOBEX) EARNINGS ELECTRONICS aly viavarejo Esa pantatool *h {pontofrio.com E-commerce 2p Pontofriog F extracony CHU ons ‘Bue tothe consolidation of Cosas Bohia’s results os of November, 2010, we use 3Qt1 asa reference for better comparison. ‘The ‘profit sharing” expense, which was pr
Slide 10: Viavarejo (Globex) 4Q11 and 2011 Highlights
VIAVAREJO (GLOBEX) 4Q11 AND 2011 HIGHLIGHTS 1@ Real growth of 11.1% in same-store sales * Focus on integration process of the companies le, prioritizing management and delivery of sustainable results > Expected synergies captured > System unification into a single technological platform > Margin gai
Slide 11: Viavarejo (Globex) 4Q11 and 2011 Highlights
VIAVAREJO (GLOBEX) 4Q11 AND 2011 HIGHLIGHTS aA viavarejo * Maintenance of ergies captured i * New synergies depend on anti-trust uthority “Serve and realize customers’ dreams” * Viavarejo has a unique culture of realizing customers’ dreams. * Expansion of * Delivery of long-term susta [eceotintdetar
Slide 12: 4Q11 and 2011 Highlights
4Q11 AND 2011 HIGHLIGHTS Evolution Growth significantly above New record - Black Friday market Sales mix improvement, with Increase in sales, traffic and higher margin items - increase conversion rate in participation of strategic categories Net profit of RS 27 million, up 1 * All e-commerce guidanc
Slide 13: Gross Sales of R$ 7.1 Bi in 4Q11
GROSS SALES OF R$ 7.1 BILIN 4Q11 Gross Sales (RS mi) = Same-store sales growth of 8.4% in 4Q11: > E-commerce up 40.4%, close to guidance ceiling (of growth between 30%-50% above market) = Real growth of 14.8% in 2011 > Considering inflation and deflation indices for electro and furniture and mattres
Slide 14: EBITDA in 4Q11, Margin at 7.2%
EBITDA OF R$ 446 MI IN 4Q11, MARGIN AT 7.2% EBITDA (R$ mi) = Margin at 5.2% in 2011, close to the Viavarefo (incl.Nova Pont guidance ceiling | = Integration process underway with capture of synergies > Rationalization of store portfolio, distribution centers and back-office > Unification of IT platf
Slide 15: Net Financial Expense Reduces Representativeness
NET FINANCIAL EXPENSE REDUCES REPRESENTATIVENESS = Reduction of financial expense of representativeness > Percentage drops to 5.9% in 3Q10, when the guidance announced was 3.2% = Implemented Initiatives > Reduction of sales without interest and increased sales with interest 169760 > Improvement in f
Slide 16: Operating Result After Discount of Receivables Grows
OPERATING RESULT AFTER DISCOUNT OF RECEIVABLES GROWS ‘Operating result aff receivables Vevareje (na = Increase in the result after the discount of receivables > This result was equivalent to 0.1% of net sales in 1Q11 and climbed to 3.6% in 4Qnt > Reflects the operational efforts throughout the year,
Slide 17: Adjusted Net Margin Reaches 1% in 2011
ADJUSTED NET MARGIN REACHES 1% IN 2011 Net Income (85 mn) Viavarejo (inel. Nova Pe + Adjusted net income by expenses with integration reaches RS 164.9 million in 4Q11 > Adjusted net margin of 2.7% + Accounting net profit of R$ 103.9 million in 2011 > Accounting net margin of 0.5% * Adjusted net inco
Slide 18: GPA Consolidated's 4Q11 Earnings
GPA CONSOLIDATED’S 4Q11 EARNINGS Supermarkets Qin Proximity i 7 reomscie ° fe] Cash-and-Carry Gas Stations and we ASSAI Drugstores < oO Hypermarket jextra| n aE Specialized . i 4 : ontofrio & | viavarejo | sees TTA: p f 2 F {pontofrio.com aH VU ponl ‘io| a “hova E-commerce 828 os Ww ° ° eHub com.re
Slide 19: Net Profit and Debt
NET PROFIT AND DEBT Adjusted Net P = Net debt/EBITDA ratio: 1.2x > 4Q11 net debt below 3Q11 [TeroPaoteAcicar qs woron eves ii oa gli, ting pam
Slide 20: From January 2008 to December 2011
From January 2008 to December 2011: ‘Acquisitions: Tssaie Ponto io Associatio! "21 Compretem and Senda stores into xtra Super but we still have a long way ahead of us!
Slide 21: Signatures
SIGNATURES Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. COMPANHIA BRASILEIRA DE DISTRIBUIÇÃO Date: February 17, 2012 By: /s/ Enéas César Pestana Neto Name: Enéa
Brazilian Distribution Co Companhia Brasileira DE Distr CBD — Q4 2011 Earnings Presentation on 6ix