Grupo Elektra SAB de CV · BME:XEKT
Grupo Elektra SAB de CV — Q1 2004 Earnings Presentation
34 slides from Grupo Elektra SAB de CV's earnings presentation, June 2004
Slide 1: June 2004
. | June 2004
Slide 2: Forward-Looking Statement Disclaimer
Forward-Looking Statement Disclaimer This presentation contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the Securities and Exchange Commission, in our annual report to shareholders, in our proxy statements, in our offering ci
Slide 3: Agenda
Agenda Corporate Structure Introduction to Grupo Elektra Introduction to Grupo Elektra: Retail Division Introduction to Grupo Elektra: Banco Azteca 1Q04 Results: Brief Summary 1Q04 Consolidated Credit Portfolio Banco Azteca (Highlights) Afore Azteca (Highlights) 3
Slide 4: New Corporate Structure
New Corporate structure we Grupo Elektra
Slide 5: Grupo Elektra Structure
Grupo Elektra Structure División Comercial División Financiera Comercio Elektrafin América América Credimax New México Captación Products Latina Latina (Other Retailers) 9 9H-E-B 9 9 9Almacenes García 9 9Cuenta Socio 9Home Mart 9 9Otros 5
Slide 6: Introduction to Grupo Elektra
Introduction to Grupo Elektra 6
Slide 7: Strong Financial History
Strong Financial History Millions of Pesos Revenues EBITDA $3,450 $20,589 $3,131 $2,959 $17,268 $2,687 $15,740 $16,279 $13,039 $2,148 $1,973 $11,485 $9,745 $1,652 1997 1998 1999 2000 2001 2002 2003 1997 1998 1999 2000 2001 2002 2003 7
Slide 8: Target Market
Target Market A/B, 2% C+, 3% C, 15% 73% of the 23 millions D+, 15% population of = households 17 millions = Ps. $1,200 D, 40% of billons households E, 25% Source: Sigma, INEGI 8
Slide 9: Introduction to Grupo Elektra (Retail Division)
Introduction to Grupo Elektra (Retail Division) 9
Slide 10: Store Format
Store Format 641 stores in Mexico 68 stores in Latin America Target market: D+ and C Focuses in electronics, home appliances and furniture 10
Slide 11: Store Format
Store Format Acquired in 1999 for US$77.7 millones 87 stores in Mexico Target market: C+ and C Focuses in furniture and state of the art electronics 11
Slide 12: Store Format
Store Format Concept created to comercialize repossesed goods from credit operations Target market: D+ and D 88 stores in Mexico and Latin America 12
Slide 13: Logistics and Products
Logistics and Products Extensive store infrastructure Offer of leading Brands Presence in 220 cities and Products: 946 950 953 885 881 884 846 Electronics Household appliances Furniture Mexico 763 847 848 852 821 813 816 Mobiles Computers Extended warranties Money transfers Latin America 83 99 102 1
Slide 14: Recognized Branded Goods with High Margins
Recognized Branded Goods with High Margins We are “La Casa del Celular” More than 818,000 mobiles sold in the LTM* During 3Q03, we start offering the four mobile brands in our stores across Mexico Aproximately Ps. 182 millions in revenues in the LTM* Operates 183 minilabs in our stores We have sold
Slide 15: Introduction to Grupo Elektra (Banco Azteca)
Introduction to Grupo Elektra (Banco Azteca) 15
Slide 16: Current Branch Format
Current Branch Format 1,151 branches in Mexico Target market: D, D+, C and C+ Main Products and Services: 9 Credimax Consumer and Personal Loans 9 Inversion Azteca Term Deposits 9 Guardadito Savings Accounts 9 Procampo Small Farm Loans 9 ATM´s, debit cards, telephone and internet banking, money exch
Slide 17: 1Q04 Results: Brief Summary
1Q04 Results: Brief Summary 17
Slide 18: Grupo Elektra: Highlights of 1Q04
Grupo Elektra: Highlights of 1Q04 Consolidated Income Statement Millions of Pesos Revenues $660 EBITDA $72 +14% +10% $6,225 $1,044 $5,404 $888 $5,104 $817 $827 $4,743 $4,846 $755 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2003 2004 2003 2004 $315 $4796 Gross Profit +16% Net Income n.m. (Loss) $2,849 $503 $413 $4
Slide 19: Grupo Elektra: Highlights of 1Q04
Grupo Elektra: Highlights of 1Q04 Consolidated Balance Sheet Millions of Pesos Cash $7,976 Total $9,686 n.m. +84% Liabilities $12,090 $21,870 $3,835 Banco $6,265 $18,096 $7,288 $5,619 n.m. Azteca $14,615 $10,745 n.m. $12,184 $12,546 $4,899 $4,114 $3,456 $4,141* Grupo $4,480 $3,451* $1,784 $6,471 n.m
Slide 20: Schedule of Debt with Cost
Schedule of Debt with Cost Millions of Nominal Pesos 4Q03 1Q04 April 21, 2004 $3,759 $3,088 $730 $411 $260 $291 $325 $361 $406 $452 $504 $411 $260 $291 $325 $361 $406 $452 $504 $0 $0 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2005 2006 2007 2008 2009 2010 2011 2012 2004 2005 2006 2007 2008 Tota
Slide 21: 1Q04 Consolidated Credit Portfolio
1Q04 Consolidated Credit Portfolio 21
Slide 22: Portfolio by term
Portfolio by term Percentage (%) Average Term: 46 46 46 46 47 11 6 12 65 weeks 20 35 53 62 52 42 19 53 weeks 19 14 13 15 10 17 19 19 39 weeks 17 18 26 weeks 5 5 5 5 7 13 weeks 1Q 2Q 3Q 4Q 1Q 2003 2004 22
Slide 23: Active Credit Accounts
Active Credit Accounts Thousands +728 3,062 +31% 2,877 2,658 2,495 2,334 1,119 Banco Azteca 1,778 2,862 (Credimax) 2,253 2,676 1,215 Grupo Elektra (Credit as of Nov. 30, 717 405 2002 & Latin America) 200 200 1Q 2Q 3Q 4Q 1Q 2003 2004 23
Slide 24: Breakdown of Gross Portfolio
Breakdown of Gross Portfolio Thousands $1,451 +30% $6,227 $6,353 $974 Banco Azteca $5,337 (Personal Loans) $4,902 $4,949 $82 $2,648 $4,971 Banco Azteca (Consumer Credit) Grupo Elektra (as of November $2,172 30, 2002 & Latin America) $408 1T 2T 3T 4T 1T 2003 2004 24
Slide 25: Banco Azteca (Highlights)
Banco Azteca (Highlights) 25
Slide 26: Banco Azteca: Highlights
Banco Azteca: Highlights Millions of Pesos Net Interest Income Before Net Income (Loss) Monetary Gain (Loss) $902 n.m. n.m. n.m. 1,182 1,067 802 564 155 280 105 39 48 (43) 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2003 2004 2003 2004 26
Slide 27: Total Deposits and Total Loans
Total Deposits and Total Loans Total Deposits $9,474 Deposits – Number of (Accumulated) n.m. Accounts (Accumulated, 2.5 $11,029 Million) n.m. 4.1 $8,646 3.4 $6,103 2.8 2.2 $3,317 1.6 $1,555 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2003 2004 2003 2004 Total Credit Granted Loans - Number of (Accumulated) $11,302
Slide 28: Funding Cost vs. TIIE
Funding Cost vs. TIIE % Points 12.0 - 10.5 Difference vs. (1.0) TIIE (2.84) Pts. 9.0 (2.0) 7.5 (3.0) 6.0 (4.0) 4.5 (5.0) Last TIIE 6.25 % Registered 3.0 (6.0) 1.5 (7.0) Funding Cost 3.41 % 0.0 (8.0) 01 14 27 09 22 07 20 02 15 28 11 24 06 19 02 15 28 10 23 05 18 01 14 27 09 22 05 18 31 13 26 08 21 05
Slide 29: Afore Azteca (Highlights)
Afore Azteca (Highlights) 29
Slide 30: Number of Minimum Salaries as of March 31, 2004
Number of Minimum Salaries* as of March 31, 2004 Thousands Number of Minimum Salaries Number of Minimum Salaries (Accumulated, Monthly) (Accumulated, Quarterly) 876 862 862 748 742 748 435 327 0 Dec Jan Feb Mar 1Q 2Q 3Q 4Q 1Q 2003 2003 2003 2004 * Minimum salary refers to the minimum amount of cash
Slide 31: Registered Workers in Afore Azteca as of March 31, 2004
Registered Workers in Afore Azteca as of March 31, 2004 Thousands Registered Workers Affiliates Assignees (Accumulated, Quarterly) = (Accumulated, Quarterly) + (Accumulated, Quarterly) 504 478 446 427 269 262 206 205 0 0 1 7 19 26 0 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2003 2003 2004 2003 20
Slide 32: Market Comparison of Returns on Assets Under Management
Market Comparison of Returns on Assets Under Management 10.93% 10.88% 10.54% 9.95% 9.66% 9.64% 8.96% 8.75% 8.63% 8.61% 7.89% 7.69% 7.47% 7.31% 5.66% 5.20% Actinver Azteca XXI BBVA 1 ING HSBC SantanderBanorte PrincipalPromedio GNP 1 BBVA 2 Banamex Inbursa Banamex GNP 2 1 2 32
Slide 33: Net Assets Under Management of Siefore Azteca
Net Assets Under Management of Siefore* Azteca as of March 31, 2004 Millions of Pesos Net Assets Under Management Net Assets Under Management (Accumulated, Monthly) (Accumulated, Quarterly) $969 $209 +26% n.m. $1,020 $1,020 $811 $857 $689 $356 $51 $94 Jan Feb Mar 1Q 2Q 3Q 4Q 1Q 2004 2003 2004 * Sief
Slide 34: June 2004
June 2004 34