EARNINGS RELEASE Third Quarter 2013 November 2013
CONTENTS Highlights Consolidated Income Statements Chile Operation Colombia Operation Q&A
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Third Quarter 2013: HIGHLIGHTS 3Q 2013
Same Store Sales in Chile grew by 12% Continued improvements in Retail Margin Increase in Financial Margin Decrease in the Credit Risk Second consecutive quarter of positive EBITDA Chile Strengthening of Fingerprint Payment Method
Recent Events
Labor relations www.nuevapolar.cl
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Consolidated Income Statements: 3Q 2013 CLP M$ Revenues Cost of sales Margin
3Q 2013 99,842 (68,232) 31,610
% Income
SGA (w/o depreciation) Operating Income EBITDA Depreciation Non-Operating Profit Profit (loss) before taxes Benefits (expenses) income tax Profit (Loss)
(33,027) (3,554) (849) (2,136) (6,724) (10,277) 2,239
-33% -4% -1%
(8,038)
-8%
-68% 32%
-10%
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3Q 2012 86,524 (66,849) 19,675
% Income
(30,388) (12,642) (8,947) (1,929) (1,777) (14,419) 800
-35% -15% -10%
(13,619)
-16%
-77% 23%
-17%
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Consolidated Income Statements: 9M 2013 CLP M$ Revenues Cost of sales Margin
9M 2013 294,884 (205,311) 89,573
% Income
SGA (w/o depreciation) Operating Income EBITDA Depreciation Non-Operating Profit Profit (loss) before taxes Benefits (expenses) income tax Profit (Loss)
(94,156) (10,666) (2,572) (6,083) (17,762) (28,428) 8,609
-32% -4% -1%
(19,819)
-7%
-70% 30%
-10%
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9M 2012 259,205 (226,300) 32,905
% Income
(84,921) (57,646) (46,899) (5,630) (1,881) (59,527) 843
-33% -22% -18%
(58,684)
-23%
-87% 13%
-23%
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Chile: Retail Business 3Q 2013 3Q 2013
3Q 2012
73,668
66,588
5,946
5,552
9M 2013
9M 2012
11%
221,578
196,834
13%
7%
18,240
16,525
10%
∆%
∆%
Retail revenues (CLP M$) Chile Colombia
Same Store Sales (CLP Billion$)
Retail Gross Margin
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Chile: Credit Business 3Q 2013 3Q 2013 3Q 2012
∆%
9M 2013
9M 2012
∆%
Financial revenues (CLP M$) Chile Colombia
19,079
13,625
40%
51,836
43,163
20%
1,149
759
51%
3,230
2,683
20%
Portfolio by Aging Segments
% Provision for Loan Losses
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Chile: EBITDA 3Q 2013 Retail 3Q 2013 3Q 2012 73,668 66,588 16,778 12,755
EBITDA Chile in CLP M$ Revenues Gross Margin % Revenues
SG&A w/o depreciation % Revenues
EBITDA % Revenues
Financial 3Q 2013 3Q 2012 19,079 13,625 13,478 6,683
Consolidated 3Q 2013 3Q 2012 92,747 80,213 30,256 19,439
23%
19%
71%
49%
33%
24%
(19,548)
(19,345)
(9,381)
(7,214)
(28,929)
(26,559)
-27%
-29%
-49%
-53%
-31%
-33%
(2,770)
(6,562)
4,602
1,164
1,832
(5,398)
-4%
-10%
24%
9%
2%
-7%
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Chile: EBITDA 9M 2013 Retail 9M 2013 9M 2012 221,578 196,834 54,937 41,827
EBITDA Chile in CLP M$ Revenues Gross Margin % Revenues
SG&A w/o depreciation % Revenues
EBITDA % Revenues
Financial 9M 2013 9M 2012 51,836 43,163 31,409 (8,082)
Consolidated 9M 2013 9M 2012 273,414 239,997 86,346 33,745
25%
21%
61%
-19%
32%
14%
(59,551)
(56,161)
(22,388)
(20,155)
(81,959)
(76,315)
-27%
-29%
-43%
-47%
-30%
-32%
(4,635)
(14,240)
10,831
(23,191)
6,196
(37,431)
-2%
-7%
21%
-54%
2%
-16%
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Chile LTM EBITDA Margin Evolution
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Colombia Operation EBITDA Colombia Colombia in CLP M$
3Q 2013
3Q 2012
Retail Revenues
5,946
5,552
Financial Revenues Total Revenues
1,149
759
7,095
6,311
942
277
16%
5%
413
(40)
36%
-5%
1,354
237
19%
4%
(4,119)
(3,764)
-58%
-60%
(2,680)
(3,550)
-38%
-56%
Retail Margin % Ret. Rev
Financial Margin % Fin. Rev
Total Margin % Tot. Rev
SG&A w/o Depreciation % Tot. Rev
EBITDA % Tot. Rev
% Provision for Loan Losses
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Q&A
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