Inretail Peru Corp. · BVL:INRETC1
Inretail Peru — Q1 2017 Earnings Presentation
18 slides from Inretail Peru's earnings presentation, May 2017
Slide 1: Earnings Presentation Q1'17
EARNINGS PRESENTATION as Q1'17 = May 2017 elisa
Slide 2: Q1'17 consolidated results, By format, Recent events
Q1’17 consolidated 1 results results 2 By format 3 Recent events
Slide 3: Q1'17 Consolidated results
1 Q1’17 Consolidated results 3
Slide 4: Q1'17 consolidated financial results
Q1’17 consolidated financial results Million Soles (S/ mm) Highlights Revenues High single digit growth in Revenues and +13.7% +7.0% growth in Net Income, in the context of postponed 7,273 7,422 6,798 macro recovery and weather conditions • Revenues: +8.4% vs Q1’16 +8.4% 1,765 1,913 • Adj. EBITDA: +
Slide 5: Revenue and EBITDA breakdown
Revenue and ebitda breakdown Million Soles (S/ mm) Revenues Adj. EBITDA +7.0% +12.1% Pharmacies 6,853 6,999 Supermarkets 515 518 6,406 459 38% 38% 36% 47% 46% 44% 8.8% 3.1% 1,665 1,811 64% 62% 62% 118 122 56% 53% 54% 38% 36% 46% 42% 62% 64% 54% 58% Q1’16 Q1’17 2015 2016 LTM Q1’17 Q1’16 Q1’17 2015 20
Slide 6: Consolidated net income
Consolidated net income Million Soles (S/ mm) Net Income Net Income Breakdown +85.5% 277 2 2 -6 73 268 2 64 9 +13.7% 144 64 73 Q1’16 Q1’17 2015 2016 LTM Q1’17 Net Income EBITDA Lower Higher FX Gain Other Net Income Q1’16 Growth Financial Mark to Q1’17 Expenses Market Net Margin 3.6% 3.8% 2.1% 3.7% 3
Slide 7: Capex and cash-flow breakdown
Capex and cash-flow breakdown Million Soles (S/ mm) Consolidated Capex Cash-Flow Breakdown 2016: S/ 523 mm 195 57 244 161 -119 119 7 -52 137 87 0 79 Q1’16 Q2’16 Q3’16 Q4’16 Q1’17 Starting Operating CAPEX Debt Financial Other Non- Ending Cash Cash Flow Increase Expenses Operating Cash Balance Investi
Slide 8: Q1'17 Results by format
Qnty as" Bs InRetail PERU CORP
Slide 9: Supermarkets
SUPERMARKETS S/. mm Q1'17 Q1'16 Var % Revenues 1,151 1,038 10.9% Gross Profit 294 268 9.9% EBITDA 71 64 10.3% Gross Mg 25.6% 25.8% -23 bps EBITDA Mg 6.1% 6.2% -3 bps SSS growth of 7.9% and 10k sqm of new supermarkets sales area (+3.4% since Q1’16) Gross margin decreased 23 bps in Q1’17 • Roll out of
Slide 10: Pharmacies
Pharmacies S/. mm Q1'17 Q1'16 Var % Revenues 662 629 5.2% Gross Profit 213 199 6.6% EBITDA 52 55 -5.9% Gross Mg 32.1% 31.7% 43 bps EBITDA Mg 7.8% 8.7% -93 bps SSS of -3.3%. Excluding leap year effect, SSS of -2.0% Opened 19 pharmacies and closed 1 (203 additional pharmacies since Q1’16, +22.0%) Gros
Slide 11: Shopping malls
Shopping malls S/. mm Q1'17 Q1'16 Var % Revenues 112 108 3.6% Gross Profit 73 74 -0.9% Adj. EBITDA 67 67 0.8% Gross Mg 65.5% 68.5% -298 bps Net Rental Mg 79.3% 82.1% -273 bps Tenants’ SSS growth of 3.1% Maintained high occupancy rates in malls of ~96% Gross and Net Rental margins impacted by the var
Slide 12: Quarterly Openings and SSS by Segment
Quarterly Openings and SSS by Segment Openings Same Store Sales (SSS) Supermarkets Supermarkets 2016: 1.2% Sales Area (‘000 sqm) 304 306 7.9% 288 289 290 Mass 3.4% 285 285 285 295 295 Spmkts 0.6% 1.0% 0.0% Q1’16 Q2’16 Q3’16 Q4’16 Q1’17 Q1’16 Q2’16 Q3’16 Q4’16 Q1’17 No Spmkts 104 104 104 106 106 No M
Slide 13: Consolidated financial debt
Consolidated financial debt Million Soles (S/ mm) Consolidated Financial Debt1/ USD Exposure 4.0x 4.0x 3.6x 3.6x 3.6x 3.3x 3.3x 2.9x 3.2x 2.8x 2.9x 39% 42% 41% 72% 23% 23% 23% 1.3x 38% 35% 36% 28% 2012 2013 2014 2015 2016 LTM Q1’17 dic-14 dic-15 dic-16 mar-17 Net Debt/EBITDA Debt/EBITDA Hedge USD PE
Slide 14: Debt by segment
Debt by segment Million Soles (S/ mm) Total Consolidated Debt: S/2,613 mm Debt / EBITDA: 3.3x Net Debt / EBITDA: 2.9x 3.2x 8.2x 3.0x 3.1x 2.9x 2.8x 2.7x 2.7x 2.4x 2.6x 5.4x 5.5x 2.4x 2.2x 4.4x 4.3x 4.2x 2.0x 4.9x 4.7x 4.0x 3.7x 3.7x 0.4x 2012 2013 2014 2015 2016 LTM Q1’17 2012 2013 2014 2015 2016 LT
Slide 15: Recent events
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Slide 16: Recent events
Recent events Dividend Distribution Paid US$ 20 mm of cash dividends on April 28th 2017 New dividend policy approved in the Annual Shareholders Meeting, held on March 31st 2017 “The company will annually distribute cash dividends for an amount no less than 10% of the Net Income of the period, af
Slide 17: Investor relations contacts
Vanessa Dañino IRO Alessandra Garrido IR Senior Analyst Shirley Perez IR Analyst IR email: ir@inretail.pe Phone: +511 612 5423
Slide 18: economic, political and business conditions, both in Peru and in Latin America as a
This material was prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities. This presentation may include forward-looking statements or statements about events or circumstances which have not yet occurred. We have based these f