Earnings Release 3rd Quarter 2015 November 20th ,2015
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CONTENTS
Highlights 3Q 2015
Balance Sheet
P&L
Cash Flow
Retail Operation
Financial Operation
Q&A
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Highlights 3Q 2015 Positive EBITDA CLP B $ 0.5 3Q 2015 and CLP B $3.9 LTM Increase in 360 basis points in retail gross margin Retail Margin LTM 29,8% Increase in 4,8% Financial gross margin v/s 3Q2014 3,2% and 8,0% decrease in SG&A for 3Q 2015 and 9M 2015 respectively. Mr Andres Eyzaguirre is appointed as new CEO
Ahumada deal 3
Balance Sheet
Cash and Cash equivalents CLP B$ 3Q´15
CLP B$ 3Q´14
CLP B$ 4Q´14
12 115 63 33 224
22 95 60 38 215
21 110 58 42 231
20 52 25 97
32 60 24 116
31 59 20 111
321
331
342
22
Current Assets Cash and Cash equivalents Current Trade and Accounts Receivalbes Inventory Other Current Assets Total Current Assets
21 16
13
13
13
12
Non-Current Assets Long-term account receivable Properties, plant and equipment Other Non - Current Assets Total Non - Current Assets
Total assets
1Q´14 2Q´14 3Q´14 4Q´14 1Q´15 2Q´15 3Q´15
Accounts Receivables 161
148 127
141
136
133
135
Current Liabilities Other Current Financial Liabilities Other Trade and Other Account Payable Other Current Liabilities Total Current Liabilities
27 57 16 99
37 57 12 106
44 64 17 125
1Q´14 2Q´14 3Q´14 4Q´14 1Q´15 2Q´15 3Q´15
Financial Liabilities
Non - Current Liabilities Long Term Financial Debt Other Non - Current Liabilities Total Non - Current Liabilities
30 51 81
185 54 240
186 50 236
230 204
Total Liabilities
181
345
361
Equity
140
(14)
(19)
212
222 53
53
56
1Q´14 2Q´14 3Q´14 4Q´14 1Q´15 2Q´15 3Q´15
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P&L 3Q CLP $ B Revenues Costs Gross Margin % Revenues SG&A (w/o depreciation) % Revenues EBITDA % Revenues Depretiation Operating Income Non - Operating Income Profit (Loss) Before Taxes Benefits (Expenses) Income Tax Profit (Loss)
3Q 2015 87.1 (55.0) 32.1 36,9% (31.6) -36,3% 0.5 0,6% (2.3) (1.8) (1.9) (3.6) (0.4) (4.1)
Consolidated 3Q 2014 r 2,3% 85.1 (57.9) 17,7% 27.3 32,0% -3,2% (32.6) -38,3% (5.4) -6,3%
3Q 2015 70.6 (49.8) 20.7 29,4% (24.2) -34,3% (3.5) -4,9%
Retail r 1,4% 15,5% -2,3%
3Q 2014 69.6 (51.6) 18.0 25,8% (24.8) -35,6% (6.8) -9,8%
3Q 2015 17.7 (5.5) 12.2 69,1% (8.3) -46,9% 3,9 22,2%
Financial 3Q 2014 r 4,8% 16.9 (6.5) 17,8% 10.4 61,5% -7,3% (9.0) -53,0% 1.4 8,5%
(1.9) (7.2) (8.6) (15.8) 5.0 (10.9)
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P&L 9M CLP $ B Revenues Costs Gross Margin % Revenues SG&A (w/o depreciation) % Revenues EBITDA % Revenues Depretiation Operating Income Non - Operating Income Profit (Loss) Before Taxes Benefits (Expenses) Income Tax Profit (Loss)
Consolidated 9M 2015 9M 2014 r 266.0 -4,0% 277.1 (171.2) (183.2) 94.8 0,9% 94.0 35,6% 33,9% (94.3) -8,0% (102.4) -35,4% -37,0% 0.5 (8.4) 0,2% -3,0% (6.7) (6.2) (9.5) (15.7) 2.3 (13.4)
9M 2015 216.7 (153.1) 63.6 29,3% (72.4) -33,4% (8.8) -4,0%
Retail r -3,8% 5,6% -6,4%
9M 2014 225.4 (165.1) 60.3 26,7% (77.3) -34,3% (17.0) -7,6%
9M 2015 53.0 (19.0) 34.0 64,2% (24.7) -46,7% 9.3 17,5%
Financial 9M 2014 r -5,4% 56.0 (19.0) -8,2% 37.0 66,1% -13,2% (28.5) -50,8% 8.6 15,3%
(5.6) (14.1) (22.7) (36.8) 4.5 (32.3)
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CASH FLOW
Cash Flow Statements
30-sep-15
30-sep-14
CLP $ M
CLP $ M
Net Cash Flow from operating income
(1,304)
12,405
Net Cash Flow from investing income
(4,596)
(2,675)
Net Cash Flow from financing income
(3,639)
(10,121)
Net cash decrease in cash and cash equivalents
(9,539)
(392)
Cash and cash equivalents at the beginning of the period
20,329
21,403
Cash and cash equivalents at the end of the period
10,790
21,012
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Retail Operation Retail Revenues LTM -1,3%
-1,3%
-1,7%
-1,6%
-1,3% 335
Ingresos Retail U12M
Revenues (CLP $B)
330
Ingresos (MMM)
-1.3%
325 330
+0,6%
Retail Margin % LTM Margen Retail % U12M
-1.6%
321
316
317
325 29,8%
321
316
28,3%
28,8%
27,8% 26,9%
2Q 14
3Q 14
3Q 14
4Q 14
4Q 14
1Q 15
1Q 15
2Q 15
2Q 15
3Q 15
3Q 14
4Q 14
1Q 15
2Q 15
3Q 15
Challenges • Continue SG&A efficiency plan • Focus on private labels
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Financial Operation Open accounts w/balance (Th.)
508
526
531
524
509 513
492
1Q´14
2Q´14
3Q´14
4Q´14
1Q´15
2Q´15
3Q´15
9,9% 200
10,4%
10,3%
10,8%
11,3% 10,8%
9,1%
Credit Card Loan Stock (CLP $ B) 150
Risk rate
100 50
163
153
133
144
136
141
137
1Q´14
2Q´14
3Q´14
4Q´14
1Q´15
2Q´15
3Q´15
0
Challenges
• Increase average debt • Increase customers with balance • Maintain risk rate in current levels 9
Q&A
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Contact Info Felipe Contesse Head of Investor Relations +56 2 2383 3313 ir@lapolar.cl For all our investors information please visit:
www.nuevapolar.cl Disclaimer: Actual results could differ materially from these forward-looking statements as a result of a number of factors, including but not limited to risks more fully described in our financial statements.
Earnings Release 3rd Quarter 2015 November 20th ,2015
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