Afp Habitat Sa · BCS:HABITAT
Afp Habitat Sa — 5th Annual Andean Conference 2011
24 slides from Afp Habitat Sa's conference presentation, March 2011
Slide 1: AFP Habitat 5th Annual Andean Conference
AFP Habitat 5th Annual Andean Conference March 2011
Slide 2: AFP Industry Overview
AFP Industry Overview o 1980: The Chilean legislation (Decreto Ley 3500) established a privately operated compulsory individual capitalization system o 1981: New pension system initiates operations with 12 AFPs o 1985: AFPs authorized to invest in corporate stocks o 2000: In accordance with regulato
Slide 3: AFP Habitat Overview
AFP Habitat Overview o AFP Habitat was founded in 1981, by the Chilean Chamber of Construction (Cámara Chilena de la Construcción o CChC) o 2nd largest AFP, both in terms of affiliates and assets under management (AUM) o Currently, AFP Habitat has 336 shareholders 28,8% 67,5% 3,70% CChC Inversiones
Slide 4: Habitat: Price Share Evolution
Habitat: Price Share Evolution 650 1981: 1981:C.Ch.C. CChC creates creates 2010: CChC purchases AFP AFP Habitat Habitat 1MMw/ 1MM shares, Citigroup’s shares and 600 USD$2.5 shares, per share; then re-sells 14%; Mkt USD$2.5 Cap USD per share; 2.5MM Mkt Cap USD 850MM 550 Mkt Cap USD 2.5MM 500 2008: Pe
Slide 5: AFP Industry Product Offerings
AFP Industry Product Offerings Individual Compulsory Contribution Capitalization 2,1% Accounts (CCICO) 1,7% • Compulsory savings = 10% gross salary base* • Fee: 1.14 – 2.36 % of salary base 1,4% APV (Voluntary Contributions) • Voluntary pension contributions • Tax benefits on amounts <= 600UF / year
Slide 6: AFP Products
AFP Products Compulsory MS Ranking System Habitat (CCICO) Habitat Habitat % Revenues 94.8% 94.0% 24.0% 2 from Fees 1,7% Affiliates 8.8 MM 2.2 MM 25.1% 2 Contributors 4.8 MM 1.2 MM 25.8% 2 94,8% Avg. Monthly 1.014 1.072 -- 3 Salary (US$) Industry Revenues from Fees AUM (MMUS$) 139,608 34,902 25.0% 2
Slide 7: AFP Products
AFP Products 2,1% 1,4% MS Ranking APV System Habitat Habitat Habitat % Revenues 2.1% 2.4% 27.5% 2 from Fees Industry Revenues from Fees # Accounts 583,000 89,000 15.3% 4 CCICO CAV APV RP AUM (MMUS$) 4,023 1,175 29.2% 2 MS Ranking CAV System Habitat Habitat Habitat % Revenues 1.4% 1.9% 33.2% 1 from F
Slide 8: Habitat Salary Base and Revenues from Fees Evolution 2000-2010
Habitat Salary Base and Revenues from Fees Evolution 2000-2010 TCC/CAGR Salary Base 2000-10 = 6,8% TCC/CAGR Revenues from Fees 2000-9 = 5,2% 300.000 TCC/CAGR Revenues from Fees 2000-10= 1,5% 250.000 MM$ / MUF 200.000 150.000 100.000 50.000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Rev
Slide 9: Total Salary Base Market Share
CCICO – Market Share Affiliates – Salary Base (2010) 50% Total Salary Base Market Share 40% Provida (Avg. 2010) 30% Habitat Capital 20% Cuprum 10% Modelo Planvital 0% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Affiliates Market Share (Dic. 2010) • Habitat registered one of the highest growth rates be
Slide 10: CCICO: Affiliates - Contributors - Salary Base Evolution
CCICO : Affiliates - Contributors - Salary Base Evolution AFP Habitat 2000 - 2010 16.000.000 2.500.000 14.000.000 2.000.000 12.000.000 N° affiliates and contributors 10.000.000 1.500.000 8.000.000 1.000.000 6.000.000 4.000.000 500.000 2.000.000 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2
Slide 11: CCICO – Share of Contributors by Income Range
CCICO – Share of Contributors by Income Range (AFP Habitat 2010) 35% % Total Contributors per Income Range 30% % Total Contributors 25% 20% 29% 28% 15% 27% 27% 26% 23% 24% 10% 5% 0% (M$) 0 - 200 200 - 400 400 - 650 650 - 850 850 - 1.050 > 1.050 Total In December 2010, Habitat had 25.1% of contributo
Slide 12: Voluntary (CAV + APV) – Market Share
Voluntary (CAV + APV) – Market Share Assets Under Management (2010) 40% Cuprum MS Assets under Management APV 30% Habitat Capital 20% Provida 10% Modelo Planvital 0% 0% 5% 10% 15% 20% 25% 30% 35% 40% MS Assets under Management CAV Total assets under management of the AFP system related to voluntary
Slide 13: Voluntary AUM (APV + CAV) Evolution
Voluntary AUM (APV + CAV) Evolution AFP Habitat (2002 - 2010) 500.000 2.000 450.000 1.800 400.000 1.600 350.000 1.400 N accounts 300.000 1.200 250.000 1.000 200.000 800 150.000 600 100.000 400 50.000 200 - - 2002 2003 2004 2005 2006 2007 2008 2009 2010 N° accounts MMUS$ • The CAGR 2002-2010 of volun
Slide 14: Habitat: Leader in Investment Performance
Habitat: Leader in Investment Performance(*) 1st 2nd 3rd 4th 5th AFP HABITAT Accounts 12 MONTHS (%) 36 MONTHS (%) 60 MONTHS (%) Statement (1) A B C D E A B C D E A B C D E Dec. 2010 12,40 12,09 9,78 7,08 7,01 -0,66 2,04 3,60 4,10 4,93 5,70 6,37 6,32 5,58 5,06 Aug. 2010 11,21 11,54 9,68 7,87 7,92 -3,
Slide 15: Breakdown of Habitat's Funds (2010)
Breakdown of Habitat’s 5 Funds (2010) B: USD$ 8,557MM A: USD$ 7,796MM 1,062,237 Accounts 355,860 Accounts 22% 37% 20% 10% 12% 58% 12% 29% C: USD$ 15,296MM 826,570 Accounts D: USD$ 4,210MM 176,605 Accounts 19% 19% 10% 9% 14% E: USD$ 1,343MM 32,377 Accounts 16% 1% 2% 1% 67% 46% 96% F/X: US$1 = Ch$468
Slide 16: Contact with our Customers
Contact with our Customers During 2010, Habitat continued to dedicate efforts to improve services designed to provide easier access and faster attention through our multiple customer channels: Over 2.1 MM certificates were generated through the self- Habi-Express service Habi-Express machines (Self-
Slide 17: Contact with our Customers
Contact with our Customers In 2010, we attended over 2.0 MM customer visits in our Branch branch offices Offices • Nationwide coverage (27 branches and 16 service centers) • Two (2) branches were replaced with modern, easy-access locations; another 13 branches were remodeled • Twelve (12) branch off
Slide 18: Improved Systems and Processes
Improved Systems and Processes The Company is continually improving and updating its database and information technology systems, all designed to improve operating efficiencies and increase information security; the key IT advances in 2010 included: New Account Management System (RT) • In 2010, Habi
Slide 19: Habitat and the Community
Habitat and the Community • AFP Habitat donated to “Caleta Tubul” 30 fully equipped Activities boats, allowing the fishing village to reinitiate its activity Post- • The Company also contributed to the national “Chile Earthquake Ayuda a Chile” fund-raising campaign as well as to “Teletón” and “Fondo
Slide 20: Habitat: Income Statement
Habitat: Income Statement December 2010 MM$ 2010 2009 VAR. % Revenues 108.949 137.931 -21,0% Gain (Loss) on Reserve Requirements 19.504 27.089 -28,0% Gain (Loss) on Disability Insurance Premium -353 -34.225 -99,0% Remuneration and Employee Related Expenses -20.770 -22.610 -8,1% Depreciation and Amor
Slide 21: Habitat: Evolution of Results (2006-2010)
Habitat: Evolution of Results (2006-2010) 75.000 55.000 35.000 15.000 -5.000 2006 2007 2008 2009 2010 -25.000 Profit Reserve Requirements EBITDAE Notes: 1. EBITDA: Net income before depreciation, amortization, financial costs and taxes 2. EBITDAE: EBITDA before return on mandatory reserve requiremen
Slide 22: % Operating Costs / Revenues from Fees
% Operating Costs / Revenues from Fees (2010) 120,0% 120,0% Operating Expenses as a % of Revenues from Fees Operating Expenses as a % of Revenues from Fees (all commissions = 1.36%) 100,0% 100,0% 80,0% 80,0% 60,0% 60,0% 40,0% 40,0% 20,0% 20,0% 0,0% 0,0% Habitat Capital Cuprum Planvital Provida Habit
Slide 23: Habitat: Balance Sheet December 2009 and 2010
Habitat: Balance Sheet 31 December 2009 and 2010 MM$ 2010 2009 VAR % MM$ 2010 2009 VAR % CURRENT ASSETS 45.776 59.474 -23,0% CURRENT LIABILITIES 30.275 55.283 -45,2% NON CURRENT ASSETS 193.523 166.538 16,2% NON CURRENT LIABILITIES 17.281 13.391 29,0% Accrued Taxes from Reserve Reserve Requirements 1
Slide 24: AFP Habitat 5th Annual Andean Conference
AFP Habitat 5th Annual Andean Conference March 2011