EARNINGS RELEASE SECOND QUARTER 2013
August 2013
Important In a communication sent to the Superintendencia de Valores y Seguros (SVS) on August 20, 2013, the Company informed that this financials and the information contained in the press release are preliminary and summarized figures. The full financial statements with the auditors revision will be sent to the SVS on September 6, 2013.
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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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