Earnings Presentation. Third Quarter

Transcription

1 Earnings Presentation Third Quarter N o v e m b e r 2018

2 DISCLAIMER This presentation contains forward-looking statements, including statements regarding the intent, belief or current expectations of the company and its management. Investors are cautioned that any such forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties including, but not limited to, the risks detailed in the company s financial statements, and actual results could differ materially fromthose indicated by such forward-looking statements.

3 3 RD QUARTER 2018 MAIN EVENTS A c q u i s i t i o n o f % o f L i n i o f o r U S $ m i l l i o n I n c r e a s e d o w n e r s h i p i n D i c i c o t o %. U S $ 6 0 m i l l i o n d i s b u r s e m e n t C a p i t a l i n c r e a s e o f m i l l i o n s h a r e s S e l e c t e d t o i n t e g r a t e t h e D J S I W o r l d 3

4 3 RD QUARTER Strategic Priorities Delivery O W N B R A N D S L O G I S T I C S C A P A B I L I T E S F I N A N C I N G & E - P A Y M E N T S C h i l e : O p e n i n g o f t w o s p e c i a l i s t s t o r e s : A m e r i c a n i n o and S y b i l l a P e r u : T o t t u s V e c i n o, f o c u s e d o n o w n b r a n d s, l o w o p e r a t i n g c o s t s a n d p r o x i m i t y C h i l e : F a l a b e l l a s n e w D C d r y r u n L a s t M i l e : P e r u : t h e C & C n e t w o r k w a s e x p a n d e d t o 8 T o t t u s s u p e r m a r k e t s 8 n e w s t o r e s i n t h e r e g i o n a n d o n e M a l l p l a z a s h o p p i n g c e n t e r i n C o l o m b i a C h i l e : l a u n c h e d o f d i g i t a l g i f t c a r d t h a t a l l o w s t o r e d e e m p o i n t s f r o m o u r l o y a l t y p r o g r a m a n d p a y i n s t o r e w i t h y o u r m o b i l e. N e w o n l i n e f u n c t i o n a l i t i e s t h a t e n a b l e s t o : I n c r e a s e t h e c r e d i t c a r d l i m i t a t t h e c h e c k - o u t p r o c e s s i n F a l a b e l l a. c o m A c q u i r e a c o n s u m e r l o a n t h r o u g h t h e m o b i l e a p p 4

5 INCOME STATEMENT (Million of CLP) 3Q17 % Rev. 3Q18 % Rev. Var % Revenues of Non-Banking Operations 1,937,199 2,004, % Revenues of Banking Operations 178, , % Total Revenues 2,115, % 2,197, % 3.9% COGS of Non-Banking Operations (1,269,009) -65.5% (1,317,193) -65.7% 3.8% COGS of Banking Operations (80,015) -44.8% (94,983) -49.2% 18.7% Gross Profit 766, % 785, % 2.5% SG&A Expenses (590,308) -27.9% (617,707) -28.1% 4.6% Operational Income 176, % 167, % -4.9% Depreciation + Amortization 72, % 82, % 14.7% EBITDA 248, % 250, % 0.8% Other Income / (Expenses) (1,411) 1, % Net Financial Income / (Cost) (46,798) (38,439) -17.9% Profit / (Loss) in Associates 2,696 1, % Exchange Rate Differences 1,918 (11,111) % Non-Operating Profit (43,595) -2.1% (46,684) -2.1% 7.1% Profit Before Tax Expenses 132, % 121, % -8.8% Income Tax (36,026) (31,200) -13.4% Minority Interest (11,350) (13,046) 14.9% Net Profit / (Loss) 85, % 76, % -10.0% Online Revenue (retail only) (*) 100, % 122, % 22.1% (*) Online Revenue includes revenue generated through online channels for Department Stores in Chile, Peru, Argentina & Colombia; Home Improvement in Chile, Peru, Argentina, Brazil & Uruguay; and Supermarkets in Chile & Peru. % Rev. estimated over the total revenue of the same businesses. 5

6 SALES AND GROSS MARGIN S A L E S N O N - B A N K I N G O P E R A T I O N S Million CLP; Annual Var (%) E - C O M M E R C E S A L E S Bn CLP; Annual Var (%) Q 2Q 3Q 9M 1Q 2Q 3Q 9M G R O S S P R O F I T N O N - B A N K I N G O P E R A T I O N S Bn CLP; Annual Var (%) 1Q 2Q 3Q 9M 1Q 2Q 3Q 9M G R O S S P R O F I T B A N K I N G O P E R A T I O N S Bn CLP; Annual Var (%) Q 2Q 3Q 9M 1Q 2Q 3Q 9M 1Q 2Q 3Q 9M 1Q 2Q 3Q 9M

7 N E T P R O F I T B R I D G E 2017 vs Million CLP Q17 Net Income Normalized EBITDA IFRS 9 Linio EBITDA Depreciations Non-Operating Profit Tax & Minority Interest 3Q18 Net Income annual variations 7

8 LEVERAGE N e t F i n a n c i a l D e b t / E b i t d a ( t i m e s ) w / o B a n k i n g O p e r a t i o n s D e b t B y C r e d i t o r w / o B a n k i n g O p e r a t i o n s Sep 2018 Sep % 48% 4.4 years Duration Public Bonds Financial Institutions L e v e r a g e ( t i m e s ) w / o B a n k i n g O p e r a t i o n s D e b t B y M a t u r i t y w / o B a n k i n g O p e r a t i o n s Sep 2018 Sep % 67% US$ 6,113 MM Financial Debt w/o Banks 1 Short Term Long Term 8

9 FALABELLA RETAIL MAIN EVENTS SALES 3Q18 1 O p e n i n g i n C o l o m b i a Mn CLP; Annual Var (%) 21.6% -25.5% 5.6% -2.7% -0.8% 623, ,342 86,603 55, ,924 Colombia Argentina Perú Chile Total SSS 15.0% 30.7% 3.8% -7.2% Var Local Currency % 18.4% 24.5% 4.2% -2.7% 9

10 SODIMAC MAIN EVENTS SALES 3Q18 1 st s t o r e i n M e x i c o 2 O p e n i n g s i n C o l o m b i a 2 O p e n i n g s i n C h i l e 1 O p e n i n g i n A r g e n t i n a Mn CLP; Annual Var (%) -16.5% 9.5% -25.6% 5.0% 5.7% 2.1% 728, , , ,883 44,316 30,140 Brasil Colombia Argentina Perú Chile Total SSS -2.0% 3.8% 26.4% 2.9% 1.9% Var Local Currency % 4.4% 6.5% 30.9% 3.2% 5.7% 10

11 TOTTUS MAIN EVENTS SALES 3Q18 2 H i p e r b o d e g a P r e c i o U n o o p e n i n g s : I c a, & H u a c h o Mn CLP; Annual Var (%) 13.8% 6.3% 9.9% 385, , ,323 Perú Chile Total SSS 6.1% 2.6% Var Local Currency % 12.0% 6.3% 11

12 LINIO MAIN EVENTS NMV 1 C o n s o l i d a t i o n o f L i n i o s i n c e A u g u s t 2 nd S o d i m a c a n d F a l a b e l l a s t a r t e d s e l l i n g i n L i n i o L a u n c h e d o f c o m m e r c i a l a c t i v i t i e s p a r t n e r e d w i t h C M R Mn CLP; Annual Var (%) 6.5% -0.3% 19,748 21,040 60,440 60,286 3Q17 3Q18 9M17 9M18 1 NMV corresponds to Net Merchandise Value. A measure of the total sum in Chilean pesos of all transactions made through Linio, net of VAT 12

13 FALABELLA FINANCIERO MAIN EVENTS GROSS LOANS 3Q18 A F T E R T H E P E R I O D I n t e g r a t i o n o f B a n c o F a l a b e l l a a n d C M R g o t r e g u l a t o r y a p p r o v a l. Mn CLP; Annual Var (%) -39.2% 38.3% -11.4% 9.5% 7.3% 4,780,991 3,467, , , ,824 Argentina Colombia Peru Chile Total 13

14 REAL ESTATE MAIN EVENTS EBITDA PLAZA, M a l l p l a z a b e g a n t r a d i n g i t s s h a r e s o n t h e S a n t i a g o S t o c k E x c h a n g e Mn CLP; EBITDA Margin (%) 161, ,354 N e w s h o p p i n g c e n t e r i n M a n i z a l e s, C o l o m b i a w i t h 4 0 k m 2 o f G L A 54,017 61, % 80.6% 79.5% 80.9% 3Q17 3Q18 9M17 9M18 43 Shopping Centers 3,19 Mn M2 GLA between shopping centers and free standing 14

15 investors.falabella.com Andrea González, Head IR Constanza Saver, IR Analyst Pablo Muñoz, IR Analyst