EARNINGS RELEASE FIRST QUARTER 2013
May 2013
Contents
Highlights Consolidated Income Statement Chile Operation Colombia Operation Store Remodeling Schedule Q&A
2
Consolidated Income Statement: 1Q 2013 CLP M$ Revenues Cost of sales Margin SG&A (w/o depreciation) EBITDA Depreciation Non operating profit Profit (loss) before taxes Benfits (expenses) income tax Profit (loss)
% Revenues 1Q 2013 90,557 (66,643) -74% 23,913 26%
(29,877) (5,829) (1,897) (2,533) (10,393) 2,265 (8,128)
-33% -6%
-11% -9%
% Revenues 1Q 2012 81,066 (88,220) -109% (7,155) -9%
(26,975) (32,454) (1,837) 274 (35,693) 826 (34,867)
-33% -40%
-44% -43%
3
1Q13 HIGHLIGHTS 1Q 2013 Same stores sales in Chile grew by 15% Sustained growth in retail margin Financial retail business back to positive Colombia revenues grew by 22% Agreement with SERNAC Store Remodeling Recent events Board of Directors New financial retail management
4
Chile: Retail Business 1Q 2013 1Q 2013
1Q 2012
D%
67,327
59,358
13%
Retail revenues (CL M$) Chile
Retail Gross Margin
SSS (CLP Billions) 52 46 23 21
21
18
Aug
17
Sep
18
19
Oct
17
Nov
L8M 2011 - 2012
25
23
19
Dec
18
Jan
20
Feb
21
Mar
L8M 2012 - 2013
5
Chile: Credit Business 1Q 2013 1Q 2013
1Q 2012
D%
15,664
15,328
2%
Financial Revenues (CL M$) Chile
Gross Loans (CLP Billions)
Credit Card Loans + VAT
Portfolio by Aging Segments
33.0%
Risk Rate (Provisions)
21.9% 18.2%
SEP´11
DEC´11
MAR´12
17.0%
JUN´12
14.8%
SEP´12
11.6%
12.3%
DEC´12
MAR´13
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Chile: EBITDA 1Q 2013 Retail 1Q 2013 1Q 2012 67,327 59,358 15,426 11,910
EBITDA Chile M$ Revenues Gross margin % Gross margin
SG&A w/o depreciation % Revenues
EBITDA % Revenues
EBITDA w/o non-recurring % Revenues
Financial 1Q 2013 1Q 2012 15,664 15,328 7,540 (18,764)
Consolidated 1Q 2013 1Q 2012 82,991 74,686 22,966 (6,854)
23%
20%
48%
-122%
28%
-9%
(19,164)
(18,864)
(6,677)
(5,779)
(25,841)
(24,643)
-28%
-32%
-43%
-38%
-31%
-33%
(3,737)
(6,918)
951
(22,868)
(2,787)
(29,786)
-6%
-12%
6%
-149%
-3%
-40%
(3,737)
(5,163)
951
(1,648)
(2,787)
(6,811)
-6%
-9%
6%
-11%
-3%
-9%
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Colombia Operation CL Billion $ Retail Revenues Financial Revenues
1Q 2013 6.6 0.99
1Q 2012 5.4 0.97
-2.2 -0.9 -3.0
-1.9 -0.7 -2.7
Retail EBITDA Financial EBITDA EBITDA
SSS (CLP Billions) D% 22% 2%
Gross Loans (CLP Billions)
Risk Rate (Provisions) 13.8% 11.9% 10.1%
11.9%
10.3% 8.6%
7.7
7.7
7.6
DEC´11
MAR´12
JUN´12
4.6
SEP´11
8.5
7.9
DEC´12
MAR´13
6.5
SEP´12
SEP´11
DEC´11
MAR´12
JUN´12
SEP´12
DEC´12
9.9%
MAR´13
Normal
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Remodeling Stores in Chile 2013 -2014 100,000 m2 with a CAPEX US$40 million
Mar-13
Jun-13
Jul-13
First half 2014
2 store
1 store
6 stores
8 stores
Q&A
10
EARNINGS RELEASE FIRST QUARTER 2013
Investor Relations Contact: MarĂa Paz Ortega (562) 2383226 (ir@lapolar.cl)
May 2013 www.nueva-polar.cl