Earnings Release 4Q06 Presentation
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Transcript of Earnings Release 4Q06 Presentation
4Q06 Earnings Results
HIGHLIGHTS FOR THE PERIOD
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– Opening of the new Distribution Center in Pernambuco– R$ 570.0 million market in Pernambuco (PE) and R$ 212.0 million in Paraíba(PB) will be supported by Profarma
– R$528.6 million Gross Revenues, up 17.3% in comparison with 4Q05
– Adjusted EBITDA registered 3.2% increase related to 4Q05, reachingR$ 19.4 million on 4Q06
_ R$ 12.7 million Net Income on 4Q06, 52.5% increase in comparison withwith 4Q05
1,442.9
1,725.2
1,967.7
2004 2005 2006
450.8 437.9471.8
529.4 528.6
4Q05 1Q06 2Q06 3Q06 4Q06
Em R$ MM
17.3%
Gross Revenue Evolution
36.4%
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Gross Revenue Breakdown
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R$ thousands 4Q05 4Q06 Variation % 2005 2006 Variation %Branded 312.0 347.8 11.4% 1,183.9 1,332.4 12.5%Generics 28.0 36.5 30.7% 103.1 112.6 9.2%OTC 77.2 96.1 24.5% 306.6 349.5 14.0%Health and Beauty Products 27.2 36.4 33.8% 98.7 132.1 33.8%Others 6.2 11.6 87.1% 31.8 39.8 25.1%Services Rendered 0.3 0.3 3.4% 1.1 1.3 25.0%Total 450.8 528.6 17.2% 1,725.2 1,967.7 14.1%
8.4
9.3
9.6 9.6
2003 2004 2005 2006
Market Share (%)
Source: IMS
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Adjusted EBITDA and Adjusted EBITDA Margin
In R$ MM and as a % Net Revenues
18.8
12.7
16.819.1 19.4
4.7%
3.3%4.0% 4.1% 4.2%
4Q05 1Q06 2Q06 3Q06 4Q06
35.7
47.1
61.668.1
3.9%4.1%3.7%3.6%
2003 2004 2005 2006
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16.321.6
(3.6)
In R$ MM
Net Income
Adjusted Net Income
2005 20064Q05 4Q06
32.5%
53.0%
Net Income
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8.312.7
(12.5)
2,1%
ROE – Return on Equity
38.2%38.4%
36.5%
2004 2005 2006*
* IPO Expenses Ajusted
ROE = (Net Income + Tax Incentives) / Shareholders Equity (period beginning)
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Operating Expenses
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5.86% 6.38% 5.86%
4Q05 3Q06 4Q06
7.11% 6.16%
2005 2006
TOTAL OPERATING EXPENSES
Cash Flow
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R$ Thousands 4Q05 4Q06 2005 2006
Cash Flow (used in)/provided by Operating Activities 13.4 (14.8) (15.6) (98.5) Internal Cash Generation 12.4 18.5 31.1 37.7 Operating Assets Variation 1.0 (33.3) (46.7) (136.2)
Cash Flow (used in)/provided by Investing Activities 0.3 (2.2) (2.0) (4.4)
Cash Flow (used in)/provided by Financing Activities (19.5) 201.6 19.3 292.4
Increase (Decrease) in Cash (5.8) 184.6 1.7 189.5
Cash Flows
Indebtedness
Net Debt (R$MM) and Net Debt / Ebitda
-64.7
50.1
82.8104.1
-1.0
1.71.81.4
2003 2004 2005 2006
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59.0
26.9
72.7
27.4
0.0
60.9
38.1
104.2
2003 2004 2005 2006
Short Term Long Term
Em R$ MM
100%
31%
69%66%
34%21%
79%
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Indebtedness Position
Capex
1.2 0.9 1.4
3.10.5 0.91.0
1.0
0.1 0.20.1
0.7
0.3%
0.2%0.2% 0.2%
2003 2004 2005 2006
Inst, Maq and Equip IT Others % Net Revenue
1,9 2,02,5
4,7
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Operanting Indicators
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Service Level(units served / units requested)
89.9%88.7%
87.7%86.6%
92.9%90.8%
2003 2004 2005 2006 9M06 4Q06
Logistics E.P.M.
(Errors per Million)
Logístics – Productivity(units shipped / worked hours)
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231202
250
2004 2005 2006
89.4 89.8 89.6
2004 2005 2006
Operanting Indicators
35.242.1
47.9
28.8
2003 2004 2005 2006
180.4215.7
157.4
245,9
2003 2004 2005 2006
Sale per Square Meter Average Sale per DC
. In R$ m (Gross Revenue) .In R$ MM (Gross Revenue)
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Operanting Indicators
Average Invoice Sale Through eletronic Orders
. R$ % on total sale
40.0%43,8%
35.0%
2004 2005 2006
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802.9 782.3857.2
2004 2005 2006
Operanting Indicators
Gross Revenue per Employee Ebitda per Employee
In R$ MM In R$ MM
28,832,0
44,549,1
2003 2004 2005 2006
889,1980,9
1246,6
1419,7
2003 2004 2005 2006
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Operanting Indicators
Capital Markets
110,9
114,6
150,8
9599
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25-out 1-nov 9-nov 17-nov 27-nov 4-dez 11-dez 18-dez 26-dez 4-jan 11-jan 18-jan 26-jan 2-fev 9-fev 16-fev 27-fev
Ibovespa IGC Profarma
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Max FischerCFO and IRO
Ana Paula RibeiroIR Coordinator
phone.: 55 (21) 4009 0276E-mail: [email protected]
www.profarma.com.br/ri
IR Contact:
