Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Q2 2010 Earnings Presentation
18 slides from Almacenes Exito Sa's earnings presentation, Jul 22, 2010
Slide 1: Almacenes Exito S.A. 2Q 2010 Results
Almacenes Exito S.A. 2Q 2010 Results July 22, 2010
Slide 2: Note on Forward-Looking Statements
Note on Forward-Looking Statements This presentation may contain forward-looking statements of expected future developments. This, as well as statements regarding future events and expectations, is subject to risks and uncertainties, as well as factors that could cause the results, performance and a
Slide 3: Agenda
AGENDA Macroeconomic Overview 2Q 2010 Highlights 2Q 2010 Financial Results Following up the Strategy Financial excellence Customer Relationship Private Labels Q&A Session 3
Slide 4: Macroeconomic Overview
Macroeconomic Overview GDP Growth vs Retail Industry GDP (2008 -2010) The 4.4% GDP growth for 1Q 10 was above GDP Growth 4.4% expectations and better than the 3.4% for 4Q Retail Industry GDP 3.4% 3.6% 2009. 2.4 1.7% Retail industry GDP began to grow this 0.6% 0.8% year but at slower pace than the re
Slide 5: 2Q 2010 Highlights
2Q 2010 Highlights Two stores were opened: Éxito del Este in Medellín, a next-generation store with over 4,000 square meters of selling area and the Exito Express store in Bogotá offering 220 square meters of convenience to consumers. Exito also converted 13 stores during the second quarter. By doin
Slide 6: 2Q 2010 Consolidated Financial Results
2Q 2010 Consolidated Financial Results Second quarter, Second quarter, 2010 2009 Million of % Net Million of % Net % Var COP Revenues COP Revenues Net revenues 1,736,895 100.0% 1,648,345 100.0% 5.4% Cost of sales -1,309,480 -75.4% -1,235,840 -75.0% 6.0% Gross profit 427,415 24.6% 412,505 25.0% 3.6%
Slide 7: Financial Results: Net Revenues
Financial Results Net Revenues 2Q 2010 vs 2Q 2009 1H 2010 vs 1H 2009 +4.6% 3,462 +5.4% 3,311 1,648 1,737 2Q 09 2Q 10 1H 09 1H 10 Figures in COP Bn (000,000,000) 7
Slide 8: Financial Results: Gross Profit and Margin
Financial Results Gross Profit and Margin 2Q 2010 vs 2Q 2009 1H 2010 vs 1H 2009 +4.6% 798 835 +3.6% 413 427 24.1% 24.1% 25.0% 24.6% 2Q 09 2Q 10 1H 09 1H 10 Gross Profit Margin (%) Figures in COP Bn (000,000,000) 8
Slide 9: Financial Results: Selling and Administrative Expenses (SG&A)
Financial Results Selling and Administrative Expenses (SG&A) 2Q 2010 vs 2Q 2009 1H 2010 vs 1H 2009 1600 1400 +0.5% 1200 725 729 1000 +0.9% 800 600 366 369 400 21.9% 21.1% 200 22.2% 21.3% 0 2Q 09 2Q 10 1H 09 1H 10 SG&A /Net Revenues (%) Figures in COP Bn (000,000,000) 9
Slide 10: Financial Results: Operating Income
Financial Results Operating Income 2Q 2010 vs 2Q 2009 1H 2010 vs 1H 2009 150 140 +45.4% 130 106 120 110 +24.7% 100 90 73 80 58 70 47 60 50 3.4% 40 2.8% 30 2.2% 3.1% 20 0.0% 10 2Q 09 2Q 10 1H 09 1H 10 Operating Income margin (%) Figures in COP Bn (000,000,000) 10
Slide 11: Financial Results: EBITDA and EBITDA Margin
Financial Results EBITDA and EBITDA Margin 80.0% 78.0% 76.0% 220 2Q 2010 vs 2Q 2009 74.0% 72.0% 1H 2010 vs 1H 2009 70.0% 68.0% 66.0% 200 64.0% +14.8% 62.0% 60.0% 58.0% 56.0% 248 180 54.0% 52.0% 50.0% 216 48.0% 46.0% 160 44.0% +8.6% 42.0% 40.0% 38.0% 36.0% 34.0% 140 128 32.0% 30.0% 118 28.0% 26.0% 24
Slide 12: Financial Results: Net Income
Financial Results Net Income 20.0% 2Q 2010 vs 2Q 2009 1H 2010 vs 1H 2009 18.0% 90.5 16.0% 80.5 +103.8% 14.0% 70.5 56 12.0% +32.9% 60.5 10.0% 50.5 8.0% 34 40.5 27 25 6.0% 30.5 1.6% 4.0% 20.5 1.9% 2.0% 1.5% 10.5 0.8% 0.0% 0.5 2Q 09 2Q 10 1H 09 1H 10 Net margin (%) Figures in COP Bn (000,000,000) 12
Slide 13: Agenda
AGENDA Macroeconomic Overview 2Q 2010 Highlights 2Q 2010 Financial Results Following up the Strategy Financial excellence Customer Relationship Private Labels Q&A Session 13
Slide 14: Our Strategy
Our Strategy Enhance our profitability while strengthening our #1 position in the Colombian retail market Increase the profitability of the current Expansion Operational and financial efficiencies locations Store openings Conversions to Development of Financial retail Expansion of Improve Strengthen
Slide 15: Financial efficiencies
Financial efficiencies Gross Financial Debt Debt ratios 14.28 1,229,685 -46.7% 8.81 655,130 6.21 2.14 1.31 1.13 June 2009 Dec 2009 June 2010 JUNE 2009 JUNE 2010 Figures in COP$ million Interest Expense Coverage Ratio Leverage Ratio Working Capital Financial debt significantly declined 46% to COP$655
Slide 16: Operational efficiencies: Customer Service and Loyalty program
Operational efficiencies Customer Service and Loyalty program 11.2% 10.4% 10.3% 11.8% 8.4% 14.2% The percentage of our monitored sales has steadily increased each month in 2010 compared with last year. January February March April May June 2009 2010 The General Satisfaction of our 4.38 customers pre
Slide 17: Consolidation of Private Label
Consolidation of Private Label Private label market share For food categories 16.0% 12.9% 13.0% 12.0% Colombian Market w ithout Alm Exito Almacenes Exito Source: AC Nielsen as of May 23, 2010 Jan-May 2009 Jan-May 2010 Almacenes Exito private label food share was 3.1 percentage points above that of c
Slide 18: Agenda
AGENDA Macroeconomic Overview 2Q 2010 Highlights 2Q 2010 Financial Results Following up the Strategy Financial excellence Customer Relationship Private Labels Q&A Session 18