Almacenes Exito Sa · BVC:EXITO
Almacenes Exito Sa — Grupo Éxito — Q4 2015 Earnings Presentation
24 slides from Almacenes Exito Sa's earnings presentation, Mar 1, 2016
Slide 1: 4Q15 Financial Results
4Q15 Financial Results March 1st, 2016 Colombia Brazil Argentina Uruguay •“The Issuers Recognition -IR granted by the Colombian Stock Exchange is not a certification about the quality of the securities listed at the BVC nor the solvency of the issuer”.
Slide 2: Disclaimer
Disclaimer Until the year ended on December 31, 2014, the parent company prepared its financial statements in accordance with generally accepted accounting principles in Colombia (GAAP). The financial statements for the year ended on December 31, 2015 are the first financial statements that the pare
Slide 3: Agenda
Agenda Grupo Éxito´s highlights 4Q15 and FY15 Financial Results Strategy Outcome 2015 Business Strategy for 2016 Q&A Session 3
Slide 4: A milestone year in the history of Grupo Éxito
A milestone year in the history of Grupo Éxito Latam Grupo Éxito became the biggest retail Company in South America by entering the Brazil and Argentinian markets. The redefinition of the Corporate Structure in Grupo Éxito aims to face the new challenges of the region. The Synergies Committee alread
Slide 5: Grupo Éxito´s Consolidated Sales
Grupo Éxito´s Consolidated Sales Mix of Sales predominantly related to food offers a balanced and resilient structure. 4Q15 Sales Mix FY15 Sales Mix Millions of COP Food Non Food Millions of COP Food Non Food Colombia 2,960,686 70% 30% 10,285,199 73% 27% Brazil 14,875,515 53% 47% 18,794,012 56% 44%
Slide 6: Consolidated Sales performance: Colombia
Consolidated Sales performance: Colombia Strong SSS performance across segments, excluding the calendar effects. 4Q15 FY2015 Total Sales % Var. Calendar Total Sales % Var. %Var. SSS %Var. SSS (Bn COP) Total Sales effect (Bn COP) Total Sales Colombia Total Colombia 2,960 3.7% -2.2% 0.0% 10,285 8.1% -
Slide 7: 4Q and FY2015 Financial Results: Colombia
4Q and FY2015 Financial Results: Colombia 4Q’s strong performance allowed an overall 2015 positive growth (ROI and EBITDA) Colombia 4Q15 4Q14 FY15 FY14 Millions of Millions of Millions of Millions of 4Q15/14 FY15/14 COP COP COP COP Net Revenues 3,059,029 2,937,550 4.1% 10,622,539 9,812,980 8.2% Gros
Slide 8: Consolidated Sales performance: Brazil
Consolidated Sales performance: Brazil Resilient food business with strong Assaí brand performance 4Q15 FY2015 Total Sales % Var. Calendar Total Sales % Var. Brazil (Bn COP) Total Sales effect %Var. SSS (Bn COP) Total Sales %Var. SSS Total Brazil 14,876 0.2% -0.9% -2.3% 18,794 5.5% -1.2% Food 7,907
Slide 9: 4Q and FY2015 Financial Results: Brazil
4Q and FY2015 Financial Results: Brazil GPA still delivered an adequate profitability level amidst a challenging macro environment Brazil 4Q15 FY15 Millions of COP Millions of COP Net Revenues 15,755,155 19,980,882 Gross Profit 3,614,090 4,660,878 Gross Margin 22.9% 23.3% SG&A Expenses 3,066,025 3,9
Slide 10: Consolidated Sales performance: Uruguay
Consolidated Sales performance: Uruguay Uruguay operations delivered strong SSS growth and market share gains 4Q15 FY2015 Total Sales % Var. Calendar Total Sales % Var. Uruguay (Bn COP) Total Sales effect %Var. SSS (Bn COP) Total Sales %Var. SSS Uruguay 600 11.3% -1.3% 8.7% 2,123 11.9% 10.6% • Sales
Slide 11: 4Q and FY2015 Financial Results: Uruguay
4Q and FY2015 Financial Results: Uruguay Uruguay delivered high profitability levels Uruguay 4Q15 4Q14 FY15 FY14 Millions of Millions of Millions of Millions of 4Q15/14 FY15/14 COP COP COP COP Net Revenues 616,470 204,757 201.1% 2,162,401 671,842 221.9% Gross Profit 216,242 75,171 187.7% 746,695 223
Slide 12: Consolidated Sales performance: Argentina
Consolidated Sales performance: Argentina Libertad out-performed the market with strong SSS growth 4Q15 FY2015 Argentina Total Sales % Var. Calendar %Var. SSS Total Sales % Var. %Var. SSS (Bn COP) Total Sales effect (Bn COP) Total Sales Argentina 468 28.1% -0.3% 26.9% 596 27.9% 26.7% • Same-store sa
Slide 13: 4Q and FY2015 Financial Results: Argentina
4Q and FY2015 Financial Results: Argentina High level of profitability driven by retail recovery and Real Estate contribution Argentina 4Q15 FY15 Millions of COP Millions of COP Net Revenues 500,886 637,699 Gross Profit 184,711 236,458 Gross Margin 36.9% 37.1% SG&A Expenses 146,754 190,758 SG&A /Net
Slide 14: Consolidated Income Statement – IFRS
Consolidated Income Statement – IFRS Solid Net Income growth despite equity tax burden and financial expenses related to debt Consolidated Income Statement 4Q15 4Q14 FY15 FY14 Millions of Millions of Millions of COP Millions of COP 4Q15/14 FY15/14 COP COP Net Revenues 19,931,808 3,142,307 534.3% 33,
Slide 15: 2016 Dividend Proposal
2016 Dividend Proposal Strong dividend increase proposal, 2.4x CPI adjustment in 2015 2014 2015 (IFRS) (IFRS) Net Income 499.4 573.4 +14.8% Dividend x share 581.1 675.7 +16.5% Dividend yield 1.99% 5.0% Pay-out Ratio 56.7% 52.7% To increase the dividend payoff by 16.3% versus last year from COP $58
Slide 16: Consolidated Cash Flow
Consolidated Cash Flow Grupo Exito benefits from the strong balance sheet of GPA Cash position +COP 7.1 Bn 6,314 9,889 5,273 61 284 10,069 3,470 2,954 Figures in Bn COP • Positive evolution of the cash position given the acquisition and consolidation of the new activities in the region (+ COP$7.1 Bn
Slide 17: Holding Cash flow
Holding Cash flow Acquisition financed with idle cash and bank loans Cash position 4,944 609 2,706 123 6,331 254 811 987 Figures in Bn COP • Negative impact of COP $6.1 Bn mainly explained by the acquisition of the international operations in Brazil and Argentina • Despite our debt position, we noti
Slide 18: Sound debt ratios and adequate debt maturity
Sound debt ratios and adequate debt maturity DFN/Ebitda ratio Holding debt maturity 2,000 4 3.8 1,800 1,600 3.5 1,400 3 1,200 1,502 2.5 1,000 2 800 1.5 600 1 400 0.35 200 213 313 313 0.5 0 97 195 195 195 195 195 195 195 195 193 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Holding Consolida
Slide 19: Capital Expenditures
Capital Expenditures More than 140,000 sqm opened in 2015 in Latam Openings Total Stores Organic CAPEX 4Q15 FY 2015 FY 2015 FY 2015 %Var % Capex for Stores Sqm Stores Sqm 15/14 Stores K sqm Millions of COP Expansion Grupo Éxito 53 70,104 175 144,102 2,606 3,864 929,091 64% Brasil 24 41,600 117 105,7
Slide 20: Additional achievements in 2015
Additional achievements in 2015 Omni-channel Activities: Over 1.000 Surtimax allies. 110 virtual catalogues in stores in Colombia. 258 click & collect sites in Colombia, over 48.000 on-line orders. Launched of geant.com and upgrade of devoto.com. Complementary businesses remained as strong c
Slide 21: Grupo Exito focused on capturing synergies
Grupo Exito focused on capturing synergies Set up an integration office: To closely follow up the evolution of all the initiatives. Initial benefits in 2015 of approximately USD $5 million, mainly came from regional purchasing conditions for merchandise and service providers. 18 joint projects
Slide 22: 2016 Perspectives
2016 Perspectives Colombia • High single-digit growth of the top line • Store expansion with 20k sqm of sales area with Capex between COP$300k and COP$350k million • Real Estate expansion of approx. 70,000 sqm of GLA with the opening of Viva Barranquilla and Viva La Ceja Brazil • Expected Sales grow
Slide 23: Note on Forward-Looking Statements
Note on Forward-Looking Statements This document contains certain forward-looking statements. This information is not historical data and should not be interpreted as guarantees of the future occurrence of such facts and data. These statements are based on data, assumptions and estimates that the Gr
Slide 24: www.grupoexito.com.co exitoinvestor.relations@grupo-exito.com
www.grupoexito.com.co exitoinvestor.relations@grupo-exito.com Phone +574 3396560 •“The Issuers Recognition -IR granted by the Colombian Stock Exchange is not a certification about the quality of the securities listed at the BVC nor the solvency of the issuer”.