Almacenes Exito SA · BVC:EXITO
Almacenes Exito SA — Q3 2010 Earnings Presentation
17 slides from Almacenes Exito SA's earnings presentation, Oct 27, 2010
Slide 1: 3Q 2010 Results
3Q 2010 Results October 27, 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 1. Macroeconomic variables 2. 3Q 2010 Highlights 3. 3Q 2010 Financial Results 4. 2010 Relevant facts: 4.1 Cafam Alliance 4.2 Merger with Carulla Vivero S.A. 5. Q&A Session •3
Slide 4: Macroeconomic variables
Macroeconomic variables GDP Growth vs. Retail Industry GDP GDP growth for 2Q 2010 of 4.5% reflects GDP Growth Retail Industry GDP confidence and improved prospects for the 5.4% 4.2% 4.5% consumer in the following months. 3.4% 3.6% Retail industry GDP began to grow above the 0.6% 0.8% economic rate o
Slide 5: 3Q 2010 Highlights
3Q 2010 Highlights The Colombian Financial Superintendence approved the merger between Carulla Vivero S.A. and Almacenes Éxito S.A., signifying the culmination of the integration process that began in 2007. The Superintendence of Industry and Commerce decided not to object to the alliance between CA
Slide 6: 3Q 2010 Financial Results
3Q 2010 Financial Results Third quarter, 2010 Third quarter, 2009 Million of % Net Million of % Net % Var COP Revenues COP Revenues Net revenues 1,753,324 100.0% 1,631,156 100.0% 7.5% Cost of sales -1,316,750 -75.1% -1,219,869 -74.8% 7.9% Gross profit 436,574 24.9% 411,287 25.2% 6.1% Selling and adm
Slide 7: Net Revenues
3Q 2010 Financial Results Net Revenues 3Q 2010 vs 3Q 2009 9M 2010 vs 9M 2009 +5.5% 5,215 +7.5% 4,942 1,753 1,631 3Q 09 3Q 10 9 M 09 9 M 10 •Figures in COP Bn (000,000,000) •7
Slide 8: Gross Profit and Margin
3Q 2010 Financial Results Gross Profit and Margin 3Q 2010 vs 3Q 2009 9M 2010 vs 9M 2009 +5.1% 1,272 1,210 +6.1% 411 437 24.5% 24.4% 25.2% 24.9% 3Q 09 3Q 10 9 M 09 9 M 10 •Figures in COP Bn (000,000,000) Gross margin •8
Slide 9: Selling and Administrative Expense (SG&A)
3Q 2010 Financial Results Selling and Administrative Expense (SG&A) 3Q 2010 vs 3Q 2009 9M 2010 vs 9M 2009 +1.7% 1,084 1,103 +4.1% 359 374 21.9% 21.1% 22.0% 21.3% 3Q 09 3Q 10 9 M 09 9 M 10 •Figures in COP Bn (000,000,000) SG&A /Net Revenues (%) •9
Slide 10: Operating Income
3Q 2010 Financial Results Operating Income 3Q 2010 vs 3Q 2009 9M 2010 vs 9M 2009 +35.0% 169 +20.4% 125 52 63 3.6% 2.5% 3.2% 3.2% 3Q 09 3Q 10 9 M 09 9 M 10 •Figures in COP Bn (000,000,000) Operating margin •10
Slide 11: EBITDA and EBITDA Margin
3Q 2010 Financial Results EBITDA and EBITDA Margin 3Q 2010 vs 3Q 2009 9M 2010 vs 9M 2009 +12.3% 380 339 +8.0% 123 133 7.6% 6.9% 7.3% 7.5% 3Q 09 3Q 10 9 M 09 9 M 10 •Figures in COP Bn (000,000,000) EBITDA margin •11
Slide 12: Net Income
3Q 2010 Financial Results Net Income 3Q 2010 vs 3Q 2009 9M 2010 vs 9M 2009 +110.5% 93 +121.5% 44 37 1.8% 17 2.1% 0.9% 1.0% 9 M 09 9 M 10 3Q 09 3Q 10 •Figures in COP Bn (000,000,000) Net margin •12
Slide 13: Working Capital
3Q 2010 Financial Results Working Capital Sept-09 Sept-10 39,599 Improvement of COP$177,954 million -138,355 The 5.3% reduction in inventory levels and an increased leverage of 16.5% in suppliers contributed to the improvement in working capital of $177,954 million. Suppliers represent active part i
Slide 14: Agenda
Agenda 1. Macroeconomic variables 2. 3Q 2010 Highlights 3. 3Q 2010 Financial Results 4. 2010 Relevant facts: 4.1 Cafam Alliance 4.2 Merger with Carulla Vivero S.A. 5. Q&A Session •14
Slide 15: 2010 Relevant Facts: Alliance with CAFAM
2010 Relevant Facts Alliance with CAFAM Three stores have already been integrated to the IT, logistics and suppliers systems. The integration process in the remaining 31 stores will be completed in November. Synergies will materialize regarding the increase in purchasing conditions, the leverage on
Slide 16: 2010 Relevant Facts: Merger with Carulla Vivero
2010 Relevant Facts Merger with Carulla Vivero Impacts on company results Expected growth of our net income due to lower tax payments of approximately USD 10 million annually for the next three years. Therefore, there will be positive impact on Earnings per Share (EPS) Synergies will fully materiali
Slide 17: Agenda
Agenda 1. Macroeconomic variables 2. 3Q 2010 Highlights 3. 3Q 2010 Financial Results 4. 2010 Relevant facts: 4.1 Cafam Alliance 4.2 Merger with Carulla Vivero S.A. 5. Q&A Session •17