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1 The date of this call is July 26, 2016. Before we start, let me remind you that the contents of this call is property of Wal-Mart de México S.A.B. de C.V. and is intended for the use of the company’s shareholders and the investment community. It should not be reproduced in any way. This call may contain certain references concerning Wal-Mart de Mexico S.A.B. de C.V.’s future performance that should be considered as good faith estimates made by the Company. These references only reflect management´s expectations and are based upon currently available data. Actual results are always subject to future events, risks and uncertainties, which could materially impact the Company’s actual performance.
Transcript of PowerPoint Presentation - Presentación de PowerPoint financiera... · FCPA ; Please refer to our...
1
The date of this call is July 26, 2016. Before we start, let me remind you that the contents of this call is property of Wal-Mart de México S.A.B. de C.V. and is intended for the use of the company’s shareholders and the investment community. It should not be reproduced in any way. This call may contain certain references concerning Wal-Mart de Mexico S.A.B. de C.V.’s future performance that should be considered as good faith estimates made by the Company. These references only reflect management´s expectations and are based upon currently available data. Actual results are always subject to future events, risks and uncertainties, which could materially impact the Company’s actual performance.
July 26, 2016
2Q16 Webcast
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Sales
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Strong total sales growth
9.6
7.2 9.2
12.3
Mexico CentralAmerica
Walmexconstantcurrency
Walmex
2Q16 (%)
9.0 6.9
8.6
11.5
Mexico CentralAmerica
Walmexconstantcurrency
Walmex
January - June 2016 (%)
4
Driven by robust same store sales growth
5
5.4 5.2 7.9 8.6
13.3 13.8
2Q January - June
Mexico (%) Central America (%)
3.2 5.4
4.1 4.5
7.3 9.9
2Q January - June
2015 2016 Two-year-stack
Mexico: Growth across all formats 2Q16 (%)
7.9
Mexico Bodega Walmart Sam's Superama Suburbia
6
Mexico: Growth across all divisions 2Q16 (%)
7.8 7.9 7.1
10.3
Mexico Self-service &
Sam's
Food andConsumables
GeneralMerchandise
Apparel
7
Mexico: Growth across all regions
8
7.8
Mexico Self-service and
Sam's
Metro Center North South
2Q16 (%)
Mexico: Consistently outpacing Antad Self-service
9
4.0 3.8
7.8
2Q15 2Q16 2-yearstack
Antad Self-service ex Walmex
5.6
7.8
13.4
2Q15 2Q16 2-yearstack
+160 bps
+400 bps
+560 bps
Walmex Self-service & Sam’s
2Q16 (%) January - June 2016 (%)
3.9 4.8
8.7
2Q15 2Q16 2-yearstack
5.3
8.6
13.9
2Q15 2Q16 2-yearstack
+140 bps
+380 bps
+520 bps
Mexico: outpacing Total Antad
10
6.0 5.2
11.2
2Q15 2Q16 2-yearstack
Total Antad ex Walmex
5.6
7.8
13.4
2Q15 2Q16 2-yearstack
+220 bps
Walmex Self-service & Sam’s
2Q16 (%) January - June 2016 (%)
5.7 6.1
11.8
2Q15 2Q16 2-yearstack
5.3
8.6
13.9
2Q15 2Q16 2-yearstack
+210 bps
Central America: Growth across all formats 2Q16 (%)
4.1
CentralAmerica
Bodega Supermarket Walmart
11
Central America: Growth across all countries 2Q16 (%)
4.1
Central America Costa Rica Guatemala El Salvador Honduras Nicaragua
12
Our strategy Grow earnings faster than sales leveraging expenses
Productivity loop
Double total sales in 10 years
~ CAGR +7 %
2014 Same StoreSales
NewStores
eCommerce 2024
~876
438
Operate for less Buy
for less
Sell for less
Grow sales
Mx$ Billion
13
2Q16 Results
14
Walmex EBITDA margin
2Q16 January - June 2016
9.0 9.1
2Q15 2Q16
8.9
9.4
2015 2016
15
Mexico gross margin
2Q16 January - June 2016
21.5 22.0
2015 2016
21.5 21.9
2015 2016
16
Mexico expenses (% to revenues)
2Q16 January - June 2016
14.5 14.4
2015 2016
14.4
14.7
2015 2016
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Mexico: 2Q16 Results
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2Q16 2Q15 % Growth (Mx$ million) $ % $ %
Total revenues 104,747 100.0 96,126 100.0 9.0 Gross margin 22,940 21.9 20,705 21.5 10.8 General expenses 15,393 14.7 13,865 14.4 11.0 Earnings before Other income 7,547 7.2 6,840 7.1 10.3 Other income 25 0.0 163 0.2 -84.4 Operating income 7,572 7.2 7,003 7.3 8.1 EBITDA 9,721 9.3 9,042 9.4 7.5
Central America: 2Q16 Results
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2Q16 2Q15 % Growth (Mx$ million) $ % $ %
In peso terms
On a constant currency basis
Total revenues 22,800 100.0 18,272 100.0 24.8 6.8 Gross margin 5,420 23.8 4,183 22.9 29.6 10.9 General expenses 4,139 18.2 3,353 18.4 23.4 5.6 Earnings before Other income 1,281 5.6 830 4.5 54.4 32.1 Other income 22 0.1 -12 -0.1 278.8 256.9 Operating income 1,303 5.7 818 4.5 59.4 36.3 EBITDA 1,834 8.0 1,251 6.8 46.7 25.5
Walmex: 2Q16 Results
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2Q16 2Q15 % Growth (Mx$ millones) $ % $ %
Total revenues 127,547 100.0 114,398 100.0 11.5 Gross margin 28,360 22.2 24,888 21.8 14.0 General expenses 19,532 15.3 17,218 15.1 13.4 Earnings before Other income 8,828 6.9 7,670 6.7 15.1 Other income 47 0.0 151 0.1 -68.6 Operating income 8,875 7.0 7,821 6.8 13.5 EBITDA 11,555 9.1 10,293 9.0 12.3 Income from continuing operations 6,186 4.9 5,401 4.7 14.5 Net income 6,186 4.9 6,811 6.0 -9.2
Strong balance sheet
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181,510 197,273
52,619 50,618
TOTAL $ 249,892
(June 30, 2016, Mx$ million)
Cash 17,764
Inventories
Assets Liabilities &
Shareholders’ equity
Fixed assets & other
Suppliers
Shareholders’ equity & other
Strong cash generation
8.3
9.7 10.2
2Q14 2Q15 2Q16
12 months cash generation as a % of total revenues
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July 26, 2016
2Q16 Webcast
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FCPA Please refer to our Note in the 2Q12 Financial Statements: Legal Proceedings in www.walmex.mx
