Watch Kei Nishikori vs Kevin Anderson - atp acapulco - acapulco atp tennis - acapulco atp 500
Santander Conference Acapulco - · PDF file(Expenses/Gross Margin) 4,6% 6,4% 4,2% 4,5%...
Transcript of Santander Conference Acapulco - · PDF file(Expenses/Gross Margin) 4,6% 6,4% 4,2% 4,5%...
JAN 08
SantanderConference
Acapulco
ConsolidatedSummary
FALABELLA SNAPSHOT
Key information and indicators (Dec-07)• Operations in Chile, Perú, Argentina and Colombia• 63 Department Sores, 84 Homecenters, 29 Super/Hypermarkets• 1,208,824 m2 Selling space• 4.7 million active credit card accounts CMR• 53,000 employees Falabella
(1) Real Ch$ @ Sep30, 2007, converted @ year-end exhange rate 496.89 Ch$/US$(2) Stock Price 31/Dec/2007: Falabella Ch$ 2,420, D&S Ch$ 260.02
Chile based integrated retailer involved in the department store business, home improvement, supermarket and financial services.
Financials LTM Sep07USD MM$ (1) Falabella G Y|YRevenues 5.528 17,0%EBITDA 726 24,1%Net Income 429 10,6%Market Cap.(2) 11.642
HISTORY OF FALABELLA
100% of The Home Depot Chile is purchased
Salvatore Falabella opens the first large tailor shop in Chile
Incorporation of home products. Falabella becomes a department store.
Alberto Solari joins the Company.
Falabella creates CMR, its own credit card
Falabella initiates development of shopping centers with the opening of Mall Plaza Vespucio
First opening in Argentina, city of Mendoza.
Falabella entersPerú by acquiringdepartment store Saga Falabella IPO in the
Chilean stock exchange
Creation of Travel Agency and Insurance brokerage.
Joint venture agreement with The Home Depot
Falabella Bank is created.
Alliances with ENTEL and Copec are created for the use of CMR card.
Falabella merger with Sodimac
Falabella acquires supermarket chain San Francisco in Chile
First department store in Buenos Aires is opened .
20% of FASA drugstore is purchased
Falabella enters the Colombian market:-Increases stake in Sodimac.-Launches CMR credit card.
1889
1937
1958
1980
1990
1993
1995
1996
19971998
1999
2000 2001
20022003
2004
2005Entrance to the Hypermarket industry in Peru with its first Tottus
2006
-Falabella initiates US$MM 2,500 investment plan 2008-2011
-Mall Plaza initiates Peru operations
-Sodimac announces entrance to Argentina
2007 Announcement of Falabella –D&S merger agreement
ChileFalabellaStores 39Sales Area 206,710 M2
ArgentinaFalabellaStores 7Sales Area 42,295 M2
PerúSaga FalabellaStores 14Sales Area 80.189 M2
ColombiaFalabellaStores 3Sales Area 29,268 M2
ChileSodimac + ImperialStores 55+7Sales Area 489,414 M2
PerúSodimacStores 7Sales Area 54,073 M2
ColombiaSodimacStores 15Sales Area 159,446 M2
(49% ownership)
CMR Credit CardN° of Active AccountsChile 2.7 mmArgentina 565 mPerú > 1 mmColombia 308 m
Mall PlazaChile: 8 mallsLease Ar. +590,093 M2
Perú: 1 mallLease Ar. 78,255 M2
Sociedad de Rentas54 storesLease Ar. 359.000 M2
ChileSan Fco - TottusStores 21 Sales Area 85,810 M2
PerúTottus Stores 8Sales Area 61,619 M2
BankROE 2006 34,6%Market ShareCons.Credit 5,2%N° Sav.Acc. 575.000
Travel AgencyBranches +34N°Pass. 200.000/year
Insurance BrokerageN°Accounts +4MM Other
IndustrialMavesa 100% own.Italmod 50% own.
FASA 20% own.
CORPORATE STRUCTURE AS OF DECEMBER 2007
Real EstateReal Estate
MAIN EVENTS 2007
ANNOUNCEMENT OF FALABELLA – D&S MERGER AGREEMENT
OPENING OF 32 STORES DURING 2007. (16 IN 4Q07)
ACQUISITION OF CONTROLLING STAKE IN MALL PLAZA
MALL PLAZA BEGINS INTERNATIONAL EXPANSION THROUGH THE CONSTRUCTION OF FIRST MALL IN PERU
ACQUISITION OF 60% OF INVERSIONES IMPERIAL (7 STORES)
BANCO FALABELLA INAUGURATED IN PERU
CAPITAL INCREASE FOR STOCK OPTIONS
NYSE LISTING PROCESS
OTHER RECENT EVENTS
MMUS$ 1.600 INVESMENT PLAN FOR 2008-2011 (+ MMUS$ 900 IN MALL PLAZA)
CONSOLIDATED INCOME STATEMENT 9M 2007 (MMUS$)
9M 2007 % Revenues 9M 2006 % Revenues Var. 07/06
Revenues 4.000 3.415 17,1%COGS (less) (2.821) -70,5% (2.439) -71,4% 15,7%GROSS MARGIN 1.179 29,5% 976 28,6% 20,8%SG&A (less) (760) -19,0% (651) -19,1% 16,8%OPERATING INCOME 419 10,5% 325 9,5% 29,0%Depreciation + Amortization (less) (90) -2,2% (73) -2,1% 22,6%EBITDA 509 12,7% 398 11,7% 27,8%
NON - OPERATING INCOME (66) -1,6% (19) -0,6% 246,4%
PROFIT BEFORE TAX & EXT. ITEMS 353 8,8% 306 9,0% 15,6%INCOME TAX (63) (45) 39,3%MINORITY INTEREST (22) (4) 481,8%PROFIT (LOSS) bef amort of NG 268 257 4,4%NET PROFIT (LOSS) 268 6,7% 257 7,5% 4,4%
Adjusted EBITDA 552 13,8% 463 13,6% 19,3%
4.000
3.4153.495
2.3701.912
4.145
4.684
2002 2003 2004 2005 2006 9M06 9M07
REVENUES (MMUS$)
CAGR = 23%
Var07/06= 17%
(*) Real Ch$ @ Sep 30, 2007, converted @ exchange rate 511.23 Ch$/US$
NET INCOME MMUS$ & % REVENUES
(*) Real Ch$ @ Sep 30, 2007, converted @ exchange rate 511.23 Ch$/US$
268257
273
219
157
338
405
8,2%
9,3%
7,8%8,2%
8,7%7,5%
6,7%
2002 2003 2004 2005 2006 9M06 9M07
Total 9M 07= MMUS$419
OPERATING INCOME 9M 2007
9M 07
Argentina; 1,0%
Peru; 15,9%
Chile; 83,1%
15,8%14,7%14,1%
11,3%13,0%
13,9% 13,4%
2002 2003 2004 2005 2006 9M06 9M07
Ebitda (MMUS$)* & % Revenues
509
398
423
323281
531 545
14,7%13,6%
12,1%12,8%
11,6% 11,7%12,7%
2002 2003 2004 2005 2006 9M06 9M07
CONSOLIDATED INDICATORS
Liabilities /Equity
1,31
1,06
0,91
1,05
0,98 1,01
2002 2003 2004 2005 2006 9M07
ROE: Net Inc./Equity (%)
FALABELLA STOCK EVOLUTION
Market Cap.
Stock Price (Ch$)
*Converted at each period’s year-end exchange rate
CAGR: 23.3%
1,0481,350 1,410
1,870
2,420
Dec-03 Dec-04 Dec-05 Dec-06 Dec-07
US$MM 4,214US$MM 5,783
US$MM 6,574US$MM 8,393
US$MM 11,642
BUSINESS UNITS
0
196
321
1,321
47
237
390
1,412
Colombia
Argentina
Perú
Chile
LTM Sep06 LTM Sep07
FALABELLA Department Stores · Revenues (MMUS$)
Var: 6.9%
Var: 21.4%
Var: 20.5%
• New stores 2007: 4
• Total stores: 39 (206,710 M2)
• Openings 2008: 3
• Openings 2008-2011: 14
FALABELLA · Department Stores*
Chile International
• New stores 2007: 6
• Total stores: 24 (151,752 M2)• 14 Peru, 7 Argentina, 3 Colombia
• Openings 2008: 5
• Openings 2008-2011: 23
(*) Projected information subject to changes
64
334
1,527
102
478
1,776
Perú
Colombia
Chile
LTM Sep06 LTM Sep07
SODIMAC Home Improvement · Revenues (MMUS$)
Var: 16.3%
Var: 43.3%
Var: 58.7%
SODIMAC · Home Improvement*
• New stores 2007: 4
• Addition of 7 Imperial Stores
• Total stores: 62 (489,414 M2)
• Openings 2008: 4
• Openings 2008-2011: 31
Chile International
• New stores 2007: 9
• Total stores: 22(213,519 M2)• 7 Peru, 15 Colombia
• Openings 2008: 16
• Openings 2008-2011: 55
(*) Projected information subject to changes
157
341
187
462
Perú
Chile
LTM Sep06 LTM Sep07
TOTTUS – SN FCO Supermarkets · Revenues (MMUS$)
Var: 35.4%
Var: 19.0%
TOTTUS – SAN FRANCISCO · Supermarkets*
• New stores 2007: 5
• Total stores: 21 (85,810 M2)
Chile Peru• New stores 2007: 4
• Total stores : 8 (61,619 M2)
• Openings 2008: 9
• Openings 2008-2011: 31
(*) Projected information subject to changes
OTHER RETAIL OPERATING INDICATORS
Same Store Sales (Real %)9M 2007
Department Stores - Chile 3,1%Home Improvement - Chile 6,4%Supermarkets - Chile -0,1%Department Stores - Perú 10,4%Hypermarkets - Peru 1,1%Home Improvement - Peru 10,0%Department Stores - Argentina 9,8%
Sep-07 Sep-06 Sales Area
(m2) Sales Area
(m2)Growth %
Department Stores - Chile 202.500 183.622 10,3%Home Improvement - Chile 484.033 409.421 18,2%Hypermarkets - Chile 80.853 53.369 51,5%Department Stores - Perú 67.781 59.890 13,2%Hypermarkets - Perú 30.335 30.335 0%Home Improvement - Peru 38.757 26.971 43,7%Department Stores - Argentina 39.817 39.817 0%Department Stores - Colombia 18.865 - -Home Improvement - Colombia 143.207 106.535 34,4%
Sales Area Growth (%)
Financial Retail · Indicators
Total Gross Loans (MMUS$)
Total Active Accounts per Country (MM)
2,7422,454
2,046
1,5421,177
877
2002 2003 2004 2005 2006 9M 07
1.8 2.0 2.3 2.6 2.6 2.7
0.60.7
0.80.9 1.0 1.1
0.30.3
0.40.4
0.60.5
0.20.3
2002 2003 2004 2005 2006 9M 07
Chile Peru Argentina Colombia
CMR Chile47%
Banco Falabella Chile
36%
CMR Argentina2%
CMR Perú12%
CMR Colombia3%
Total Gross Loans Composition (Sep07)
49,0%
30,7% 34,3%
19,3%
0%
10%
20%
30%
40%
50%
60%
Financial System
Chile
Falabella Bank
Peru
Falabella Bank
Chile
CMR Chile
Financial Retail · Efficiency
Operating Ratio as of September 2007 (Expenses/Gross Margin)
4,6%
6,4%
4,2%4,5%
FinancialSystem Chile
FalabellaBank Perú
FalabellaBank Chile
CMR Chile
Provision as of September 2007 (%)
MALL PLAZA*
• Existing Malls 2007: 8
• Total Leasing Space: 560,093 M2
• Openings 2008: 2
• Projects 2008-2011: 7
Chile Peru• New Malls 2007
• Mall Plaza Trujillo
• Total Leasing Space: 78,255 M2
• Openings 2008: 1
• Projects 2008-2011: 5
(*) Projected information subject to changes
Growth PlanGrowth Plan
INVESTMENT PLAN (US$ MM)*
(*) Information subject to changes.Includes Sodimac ColombiaAlso, during 2007, US$MM 140 was invested in the acquisition of additional shares of Mall Plaza and a 60% equity stake in Imperial.
NEXT 4 YEARS: OVER US$MM 1,600 IN STORES PLUS US$MM 900 IN MALLS
Malls
Stores
377442
541418
243
107
361304
183
82
484
845
601
325
804
2007 2008 2009 2010 2011
(*) Information subject to changes.Includes Sodimac Colombia
OVER US$MM 1,600 IN NEXT 4 YEARS
INVESTMENT IN STORES (US$ MM)*
377
442
541
418
243
2007 2008 2009 2010 2011
STORE OPENINGS *
(1) Includes 7 Imperial Stores acquired in May 2007.(*) Information subject to changes.
Includes Sodimac Colombia
147 NET STORE OPENINGS IN NEXT 4 YEARS
Total N°Stores 1761 212 256 294 323
2836
4438
29
2007 2008 2009 2010 2011
141 323
SELLING SPACE*
(*) Information subject to changes.Includes Sodimac Colombia
1,006,000 [M2]
SELLING SPACE X 2 IN NEXT 4 YEARS
2,324,000 [M2]
203261
360284
210
2007 2008 2009 2010 2011
N° of Stores 2011 TOTAL
Falabella 100
Sodimac 178
Tottus 45
TOTAL 323
N° of Stores 2007 TOTAL
Falabella 63
Sodimac 84
Tottus 29
TOTAL 176
STORE SUMMARY · 2007 – 2011**
(*) N° of stores 2011 = N° of stores 2007 + Openings – Closing of stores(**) Information subject to changes.
Includes Sodimac Colombia.(***) Does not include investment plan to be developed with D&S.
*
***
LEADING REGIONAL EXPANSION
CHILEFalabellaSodimacTottusFinancial RetailReal State
PERUFalabellaSodimacTottusFinancial RetailInmobiliario
COLOMBIAFalabellaSodimacFinancial Retail
ARGENTINAFalabellaFinancial RetailSodimac
CONTACT INFORMATION
Juan Guillermo Espinosa ([email protected]) Tomás Gazmuri ([email protected])
Phone: 56-2-380 2007
Fax: 56-2-380 2008
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 guarantee of future performance and involve a number of risks and uncertaintiesincluding, but not limited to, the risks detailed in the company’s financial statements, and the fact that actual results could differ materially from those indicated by such forward-looking statements.