Afp Habitat Sa · BCS:HABITAT
Afp Habitat Sa — H1 2011 Earnings Presentation
24 slides from Afp Habitat Sa's earnings presentation, June 2011
Slide 1: AFP Habitat Financial Statements January - June 2011
AFP HABITAT Financial Statements January - June 2011
Slide 2: AFP Industry Product Offerings
AFP Industry Product Offerings Individual Compulsory Contribution Capitalization Accounts (CCICO) • Compulsory savings = 10% gross monthly salary base* • Fee: % of salary base (1.14 – 2.36 %): Habitat = 1.36% • Competitors: Industry with 6 AFP APV (Voluntary Contributions) • Voluntary pension contri
Slide 3: Revenues from fees breakdown 2006 – June 2011
Revenues from fees breakdown 2006 – June 2011 100% 1,4% 1,5% 1,3% 1,5% 1,6% 1,9% INDUSTRY LEVEL JUNE 2011 1,8% 1,8% 2,0% 3,4% 4,3% 4,5% 95% RP : 1.8% – 3.6% APV/CAV : 0.2% – 7.0% CCICO : 91.1% – 97.4% 90% 85% 80% 96,7% 96,8% 96,5% 95,3% 94,2% 93,6% 75% 70% 65% 60% 2006 2007 2008 2009 2010 Jun-11 CCI
Slide 4: CCICO – Products Offerings
CCICO – Products Offerings Compulsory MS Ranking 1,9% System Habitat (CCICO) Habitat Habitat % Revenues 94.4% 93.6% 24.1% 2 from Fees * Affiliates 8,9 MM 2,2 MM 24.5% 2 94,4% Contributors 4,8 MM 1,2 MM 25.7% 2 Industry Revenues from Fees Avg. Monthly CCICO CAV APV RP 1,009 1,029 -- 2 Salary (US$) AU
Slide 5: CCICO – Customer Evolution: AFP Habitat
CCICO – Customer Evolution: AFP Habitat # Affiliates & MS (June 30) # Contributors & MS (Avg. Jan-Jun) 25.5% 25.2% 25.9% 2,188,533 24.5% 1,235,833 2,180,096 1,169,888 0.4% 5.6% 2010 2011 2010 2011 Source: Superintendencia de Pensiones Source: Superintendencia de Pensiones
Slide 6: CCICO – Customer Evolution: AFP Habitat
CCICO – Customer Evolution: AFP Habitat Total Salary Base (Avg. Jan-Jun, UF*) Assets Under Management (Ch$ MMM$, June 30) 26,1% 25.2% 26.3% 27.878.146 24.9% 18,035 25,261,568 15,481 10.4% 16.5% 2010 2011 2010 2011 Source: Superintendencia de Pensiones and internal estimate Source: Superintendencia d
Slide 7: Growth in Average Salary Base
CCICO – Customers / Avg. Salary Base Annual Growth - June 2011 / 2010 7,0% Cuprum Provida 6,0% Growth in Average Salary Base 5,0% Habitat Capital 4,0% 3,0% 2,0% Planvital 1,0% 0,0% 0,00% 1,00% 2,00% 3,00% 4,00% 5,00% 6,00% 7,00% 8,00% Growth in Contributors Industry average values: growth in contrib
Slide 8: Voluntary Products – AFP Habitat Evolution
Voluntary Products – AFP Habitat Evolution MS Ranking APV Industry Habitat 2,3% Habitat Habitat 1,4% % Revenues 2.3% 2.6% 28.2% 2 from Fees * AUM (USD MM) ** 4,204 1,237 29.4% 2 Industry Revenues from Fees CCICO CAV APV RP MS Ranking CAV Industria Habitat Habitat Habitat % Revenues 1.4% 1.9% 33.1% 1
Slide 9: Voluntary Products – AFP Habitat Evolution
Voluntary Products – AFP Habitat Evolution APV AUM & MS (Ch$ MM, June 30) CAV AUM & MS (Ch$ MM, June 30) 29.4% 32.9% 28.5% 582,710 33.4% 264,799 479,184 229,394 21.6% 15.4% 2010 2011 2010 2011 June 2011: APV AUM: USD 1,237 MM; CAV AUM: USD 562 MM F/X: US$1 = Ch$471 Source: Superintendencia de Pensio
Slide 10: Voluntary (APV + CAV) Assets Under Management
Voluntary (APV + CAV) Asset Under Management (June 2011) 1.000.000 900.000 800.000 AUM (USD MM) 700.000 600.000 1,799 1,852 500.000 400.000 300.000 1,351 200.000 100.000 18 887 5 - Habitat Capital Cuprum Modelo Planvital Provida • AFP Industry: • Total assets under management (APV + CAV) - June 2011
Slide 11: Breakdown of Habitat's Funds (June 2011)
Breakdown of Habitat’s 5 Funds (June 2011) A: USD$ 7,914MM B: USD$ 8,655MM 357,717 Accounts 1,038,240 Accounts 20% 21% 37% 9% 59% 13% 12% C: USD$ 15,779MM 832,482 Accounts 29% 18% 20% D: USD$ 4,549MM 16% 181,485 Accounts E: USD$ 1,672MM 9% 10% 33,882 Accounts 14% 1% 1% 1% 46% 67% 97% RV INTER RF NAC
Slide 12: Habitat: Leader in Investment Performance
Habitat: Leader in Investment Performance 1st 2nd 3rd 4th 5th AFP HABITAT Account 12 MONTHS (%) 36 MONTHS (%) 60 MONTHS (%) Statement (1) A B C D E A B C D E A B C D E Apr. 2011 9,25 8,97 7,35 5,34 5,13 1,65 3,64 4,69 4,55 4,75 3,58 4,70 5,20 4,94 4,90 Dec. 2010 12,40 12,09 9,78 7,08 7,01 -0,66 2,04
Slide 13: Contact with our Customers
Contact with our Customers (January - June 2011) Internet An average of 200,000 customers use our web site monthly, totaling 1,1 MM transactions executed in 2011 Habitat Movil Smart Phones Over 23,000 certificates have been generated by this new movil access Call Center Our “Contact Center“ has rece
Slide 14: Contact with our customers
Contact with our customers (January - June 2011) Branches The Company has attended over 840,000 customer visits in our branch offices (nationwide coverage: 27 branches and 16 service centers) Habi-Express (Self-service Machines) Over 1,0 MM certificates were generated in 64 self-service machines dis
Slide 15: Customer perception & satisfaction
Customer perception & satisfaction Adimark Procalidad Service’s Satisfaction Service’s Satisfaction Habitat 56.2 Cuprum 55.0 AFP Capital 50.5 Próvida 43.1 Planvital 34.9 Modelo 27.8 2° Half 2010 % positive attitude (grades 6 y 7). Scale: 1 to 7; Sample = 410 persons 1° Half 2011
Slide 16: Financial Statements AFP Habitat June 2011
Financial Statements AFP Habitat June 2011
Slide 17: Habitat Salary Base and Revenues from Fees Evolution 2000 – June 2011
Habitat Salary Base and Revenues from Fees Evolution 2000 – June 2011 300.000 250.000 200.000 150.000 100.000 50.000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Jun- Jun- 10 11 Revenues from Fees (Ch$ MM) Salary Base (MUF) Notes: 1. For years 2000 – 2009, revenues from fees include life
Slide 18: Habitat: Evolution of Results (2006 – June 2011)
Habitat: Evolution of Results (2006 – June 2011) 75.000 55.000 35.000 15.000 -5.000 2006 2007 2008 2009 2010 Jun-10 Jun-11 -25.000 Net Income Reserve Requirements EBITDAE Notes: 1. EBITDA: Net income before depreciation, amortization, financial costs and taxes 2. EBITDAE: EBITDA before return on man
Slide 19: % Operating Costs / Revenues from Fees
% Operating Costs / Revenues from Fees (Comparative June 2010/2011) 120,0% 100,0% 80,0% 60,0% 40,0% 20,0% 0,0% Ha 11 Hab 10 Prov 10 Prov 11 Cap 10 Cap 11 Mod 11 Cup 10 Cup 11 Plan 10 Plan 11 Depreciation & Amortization Other Operating Expenses Employee Expenses • Habitat is the most efficient AFP, d
Slide 20: % Operating Costs / Revenues from Fees
% Operating Costs / Revenues from Fees Fee= 1,36% - June 2011 120,0% 100,0% 80,0% 60,0% 40,0% 20,0% 0,0% Cuprum 1,36% Planvital 1,36% Provida 1,36% Provida Modelo 1,36% Cuprum Capital 1,36% Planvital Modelo Habitat Habitat Capital Depreciation & Amortization Other Operating Expenses Employee Expense
Slide 21: Income Statement June 2011 – AFP Habitat
Income Statement June 2011 – AFP Habitat 2011 2010 Desv. Habitat Habitat INCOME STATEMENTS Ch$ MM Ch$ MM % Revenues 54.295 47.546 14,2% Revenues from Fees 53.878 47.034 14,5% Other Revenues 417 511 -18,4% Remuneration and Employee Related Expenses - 10.132 - 10.729 -5,6% Depreciation & Amortization
Slide 22: Income Statement June 2011 (Ch$ MM)
Income Statement June 2011 (Ch$ MM) 2011 2010 2011 2010 2011 2010 2011 2010 Desv. Desv. Desv. Desv. Habitat Habitat Capital Capital Cuprum Cuprum Provida Provida ESTADO DE RESULTADOS INTEGRALES MM$ MM$ % MM$ MM$ % MM$ MM$ % MM$ MM$ % Revenues 54.295 47.546 14,2% 46.730 41.476 12,7% 40.354 35.823 12,
Slide 23: Balance Sheet June 2011
Balance Sheet June 2011 MM $ 06-2011 12-2010 VAR % CURRENT ASSETS 30.224 45.776 -34,0% NON CURRENT ASSETS 202.037 193.523 4,4% Reserve Requirements 179.143 171.549 4,4% Other Non Current Assets 22.894 21.974 4,2% TOTAL ASSETS 232.261 239.299 -2,9% CURRENT LIABILITIES 13.550 30.275 -55,2% NON CURRENT
Slide 24: AFP Habitat Financial Statements January - June 2011
AFP HABITAT Financial Statements January - June 2011