3q16 earningspresentation - investor...
TRANSCRIPT
3Q16 Earnings Presentation
2 Agenda
Famsa Mexico……..……………………….……. 8
Famsa USA..…….………………...................... 10
Banco Famsa.…………………….….……………...12
Financial Position Items..………...….........................17
Consolidated Results………..……….....……6 & 152
3
4
5
6
3Q16
Recent Developments………..……………..………….31
Recent Developments
4 Recent Developments
Mr. Roberto Gutierrez GarciaIndependent Director and Chairman of the Audit Committee
Mr. Jorge Luis Ramos SantosChairman of the Corporate Practices Committeee
KPMG - External Auditor
Grupo Famsa
Mr. Jose Luis Ochoa BautistaChairman of the Board
Mr. Roberto Gutierrez GarciaIndependent Director and Chairman of the Audit Committee
Banco Famsa
5 Employees
18,372
19,11719,420
18,462
17,736
3Q15 4Q15 1Q16 2Q16 3Q16
-8.7%1,684 job positions
-3.9%
-3.5%
Consolidated Results
7
20.2% 18.8%
16.0% 15.5%10.6% 10.8%13.2% 12.6%10.0% 10.2%6.0% 5.6%3.7% 3.0%20.3%
23.5%11,622
12,647
YTD 15 YTD 16
OthersComputersMotorcyclesMobile PhonesAppliancesElectronicsFurniturePersonal Loans
Consolidated Results
-1.1% -1.1%
6.3%8.8%
7.1%
10.0% 10.7%
5.1%4.0%
3Q14
4Q14
1Q15
2Q15
3Q15
4Q15
1Q16
2Q16
3Q16
Business-units Retail-area
Net Sales by product mix
Same Store Sales (SSS)
Net Sales by country(Millions of MXP)
86.6% 87.1%
13.4% 12.9%3,987 4,254
3Q15 3Q16
86.9% 86.5%
13.1% 13.5%11,622 12,647
YTD 15 YTD 16
Famsa USA
Famsa MX
+6.7%
+8.8%
Net Sales grew by 6.7% YoY in 3Q16.
(Millions of MXP)
447 453
66 662 4
41 407 4
0100200300400500600700
3Q15-m2* 3Q16-m2*
To be converted branchesBanking branchesBranches
Stores USA
Stores MX
375 38026 2616 28
402 398
100 53919 885
3Q15 3Q16
-3.7%+0.5%
*m2 in thousands.
20.4% 19.4%15.5% 14.6%10.3% 9.5%12.8% 12.4%10.0% 10.4%7.0% 5.8%20.1% 24.7%3,987 4,254
3Q15 3Q16
567564
Famsa Mexico
9 Famsa Mexico
Same Store Sales (SSS)
Sales by product mix
22.2% 20.1%12.9% 12.5%9.7% 9.4%11.6% 12.0%10.1% 9.1%8.0% 6.7%
21.7% 26.9%3,428 3,680
3Q15 3Q16
-12%-7%-2%3%8%
13%
Mot
orcy
cles
Com
pute
rs
Furn
iture
Pers
onal
Loa
ns
Seas
onal
Goo
ds
App
lianc
es
Elec
tron
ics
Mob
ile P
hone
s
Sales growth by product category (3Q16)
22.0% 19.7%
13.3% 12.7%9.9% 10.8%11.5% 11.8%10.7% 9.8%6.9% 6.5%
22.0% 25.6%10,019
10,862
YTD 15 YTD 16
OthersComputersMotorcyclesFurnitureMobile PhonesElectronicsAppliancesPersonal Loans
7.3%
8.4%
Contribution of Electronics, Mobile Phones, and Appliances stood out in 3Q16, highlighting the incorporation of Apple products in commercial offer.
(Millions of MXP)
-1.5%-1.4%
7.5%10.0%
8.0%
11.5%10.0%6.9% 6.8%
3Q14
4Q14
1Q15
2Q15
3Q15
4Q15
1Q16
2Q16
3Q16
Famsa MXANTAD
Famsa USA
11 Famsa USA
50.4% 51.4%
12.4% 11.5%14.3% 10.1%9.2% 14.6%3.9% 3.9%533 548
3Q15 3Q16
Sales by product mix
51.0% 51.1%
12.8%11.9%
14.8% 10.9%8.2%
13.0%4.5%4.9%3.4%5.8%1,523
1,702
YTD 15 YTD 16
ComputersOthersFamsa to FamsaPersonal LoansElectronicsAppliancesFurniture
F to F
Net sales in MXP increased by 2.7% YoY in 3Q16, despite a weak consumption environment.
(Millions of MXP)
0%
10%
20%
30%
40%
50%
3Q15
4Q15
1Q16
2Q16
3Q16
Personal Loans sales growth by quarter
533 548
1,523 1,702
3Q15 3Q16 YTD 15 YTD 16
MXP: +11.7%USD: -8.6%
MXP: +2.7%USD: +14.9
Net Sales (Millions of MXP)
Banco Famsa
13 Banco Famsa
16.2%14.2% 13.3%
11.9%10.4% 9.8% 8.7% 9.1% 8.8%
Sep'
14
Dec
'14
Mar
'15
Jun'
15
Sep'
15
Dec
'15
Mar
´16
Jun'
16
Sep'
16
Non-performing Loans Ratio (NPL)**
*Gross Balance**Includes credits discounted by payrollSource: Banco Famsa
Portfolio of Loans*
The Non-Performing loans ratio (NPL) closed at 8.8%, 30 bps. below the 2Q16 due to the enhancement of our credit base.
16,40517,215 17,822 17,938
19,321
3Q15 4Q15 1Q16 2Q16 3Q16
17.8%(Millions of MXP)
Consumer77%
Commercial23%
3Q15
Consumer78%
Commercial22%
3Q16
Portfolio of Loans Mix
14
16,500 18,359 18,611 19,74221,166
3Q15 4Q15 1Q16 2Q16 3Q16
Banco FamsaBank deposits as of September 30, 2016 were 28.3% above 3Q15 with 90.0% of term deposits, amounting to Ps. 21,166 million.
Demand deposits
11%
Opnl Availability
21%
Time Deposits68%
3Q15
Demand deposits
10%Opnl
Availability17%
Time Deposits73%
3Q16Bank Deposits Mix
(Millions of MXP)
Famsa card, credit cards, microcredits, SMEs,
Fovisste, enterprises,Credinero and Prendinero
Deposits
e-Banking, ATMs, payroll, TPVs,
remittances, money orders and insurance
Savings, payroll, checks and investments
Services
Loans
4.2% 4.1% 4.2% 4.2% 4.3%
Bank Deposits +28.3%
Consolidated Results
16
402 354 1,215 1,099 32 35
101 128
434 389
1,316 1,227
3Q15 3Q16 YTD 15 YTD 16
USAMX
11.3% 9.7%
1,630 1,685 4,788 4,984261 280
734 865
1,891 1,965
5,522 5,849
3Q15 3Q16 YTD 15 YTD 16
USAMX
Consolidated Results
47.5%
422 260
942
733
3Q15 3Q16 YTD 15 YTD 16
Gross Profit
Financial expenses, net
EBITDA
46.2%
+3.9%
+5.9%
-10.3%
-6.7%
10.6%6.1%
8.1%
5.8%
10.9% 9.1%
-22.2%
-38.3%
47.4% 46.2%
(Millions of MXP)
(Millions of MXP)
(Millions of MXP)
38125
253
445
0
200
400
3Q15 3Q16 YTD 15 YTD 16
Net Income
+225.5%
+76.3%(Millions of MXP)
1.0%
2.9%
2.2%
3.5%
Finacial Position Items
18
2,183 2,400
2703322,453
2,732
4Q15 3Q16
Famsa USA
Famsa MX
18,359 21,166
6,9067,87725,26529,043
4Q15 3Q16
Net debt
Bank deposits
15,973 19,003
4,0093,9132,6242,88422,606
25,800
4Q15 3Q16
Consumer USA
Commercial MX
Consumer MX
Financial Position Items
Net debt & bank deposits
-4.7%
5.7%
1.2%2.8%
Trade receivables
Inventories Stockholders’ equity
11.6%
2.8%
8,141 8,789
4Q15 3Q16
+14.1% +15.0%
+8.0%
(Millions of MXP) (Millions of MXP)
(Millions of MXP) (Millions of MXP)
11.6%
+11.4%
19
+10.2%
58% 54%
22% 26%20% 20%
3T15 3T16Foreign Debt Credit Lines Debt Certificates
Financial Position Items: Debt Structure
67% 69%
25%22%8%9%27,460
30,828
4Q15 3Q16Bank Deposits Debt Certificates** Credit Lines
8,767 9,663
Debt Profile(Millions of MXP)
Debt Maturity Profile(Millions of MXP)
Funding Sources(Millions of MXP)
** Includes local notes and foreign senior notes.
+12.3%
4711,496
1,504383
590
352
4,868
2016 2017 > 2018Debt Certificates Credit Lines Foreign Debt
2,3271,879
5,458
20 Note on Forward-Looking Statements
This presentation contains, or may be deemed to contain, forward-looking statements. By theirnature, forward-looking statements involve risks and uncertainties because they relate to eventsand depend on circumstances that may or may not occur in the future. The future results ofGrupo Famsa, S.A.B. de C.V. and its subsidiaries may differ from the results expressed in, orimplied by, the forward-looking statements set out herein, possibly to a material degree.
21
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