EARNINGS RELEASE SECOND QUARTER 2013
August 2013
CONTENTS Highlights Consolidated Income Statements Chile Operation Colombia Operation Q&A
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Second Quarter 2013: HIGHLIGHTS 2Q 2013
Same Store Sales in Chile grew by 16% Continued improvements in Retail Margin Increase in Financial Margin Positive Quarterly EBITDA Recovering customer confidence Purchase of 26% of Junior Debt
Recent Events
An innovative way to sign off and pay Re opening of Ahumada Store after remodeling Store remodeling Centro Mayor in Bogota Labor relations www.nuevapolar.cl
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Consolidated Income Statements: 2Q 2013 CLP M$ Revenues Cost of sales Margin
2Q 2013 104,486 (69,307) 35,179
% Income
SGA (w/o depreciation) Operating Income EBITDA Depreciation Non Operating Profit Profit (loss) before taxes Benefits (expenses) income tax Profit (Loss)
(31,252) 1,877 4,106 (2,050) (2,978) (1,101) 2,997 1,897
-30% 2% 4%
-66% 34%
-1%
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2Q 2012 91,615 (71,230) 20,385
% Income
(27,558) (9,037) (5,497) (1,864) (379) (9,416) (782) (10,198)
-30% -10% -6%
-78% 22%
-10%
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Consolidated Income Statements: 1H 2013 CLP M$ Revenues Cost of sales Margin SGA (w/o depreciation) Operating Income EBITDA Depreciation Non Operating Profit Profit (loss) before taxes Benefits (expenses) income tax Profit (Loss)
1H 2013 195,042 (135,950) 59,092
% Income
(61,129) (5,984) (1,723) (3,947) (5,511) (11,494) 5,263 (6,231)
-31% -3% -1%
-70% 30%
-6%
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1H 2013 172,680 (159,451) 13,230
% Income
(54,533) (45,004) (37,951) (3,701) (105) (45,108) 43 (45,065)
-32% -26% -22%
-92% 8%
-26%
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Chile: Retail Business 2Q 2013 2Q 2013
2Q 2012
∆%
1H 2013
1H 2012
∆%
80,583
70,888
14%
147,910
130,246
14%
Retail revenues (CLP M$) Chile
Same Store Sales (CLP Billion$)
Retail Gross Margin
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Chile: Credit Business 2Q 2013 2Q 2013
2Q 2012
∆%
1H 2013
1H 2012
∆%
17,093
14,210
20%
32,757
29,538
11%
Financial Revenues (CLP M$) Chile
Portfolio by Aging Segments
% Provision for Loan Losses
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Chile: EBITDA 2Q 2013 EBITDA Chile in CLP M$ Revenues Gross Margin % Revenues
SG&A w/o depreciation % Revenues
EBITDA % Revenues
Retail 2Q 2013 2Q 2012 80,583 70,888 22,732 17,161
Financial 2Q 2013 2Q 2012 17,093 14,210 11,521 3,999
Consolidated 2Q 2013 2Q 2012 97,676 85,098 34,253 21,160
28%
24%
67%
28%
35%
25%
(20,860)
(20,130)
(6,330)
(4,983)
(27,190)
(25,113)
-26%
-28%
-37%
-35%
-28%
-30%
1,872
(2,940)
5,279
692
7,151
(2,248)
2%
-4%
31%
5%
7%
-3%
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Chile: EBITDA 1H 2013 EBITDA Chile in CLP M$ Revenues Gross Margin % Revenues
SG&A w/o depreciation % Revenues
EBITDA % Revenues
Retail 1H 2013 1H 2012 147,910 130,246 38,159 29,072
Financial 1H 2013 1H 2012 32,757 29,538 19,061 (14,766)
Consolidated 1H 2013 1H 2012 180,667 159,783 57,219 14,306
26%
22%
58%
-50%
32%
9%
(40,024)
(38,995)
(13,007)
(10,762)
(53,031)
(49,756)
-27%
-30%
-40%
-36%
-29%
-31%
(1,865)
(9,858)
6,230
(22,176)
4,364
(32,033)
-1%
-8%
19%
-75%
2%
-20%
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Chile LTM EBITDA Margin Evolution
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Colombia Operation EBITDA Colombia CLP Billion $ Retail Revenues Financial Revenues Retail EBITDA Financial EBITDA EBITDA
Same Store Sales (CLP M$) 2Q 2013 5.7 1.09
2Q 2012 5.6 0.96
(2.4) (0.6) (3.0)
(1.6) (1.6) (3.3)
∆% 2% 14%
Gross Loans (CLP Billion$) %Provision for Loan Losses
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Q&A
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