mexico - amazon s3 · portfolio of loans* the non-performing loans ratio (npl) was 9.1% as of june...
TRANSCRIPT
2
About Us.…….…………..….…............................... 3
Agenda
Famsa Mexico……..……….……………. 8
Banco Famsa..……………………............ 9
Famsa USA…..………………......……........... 12
Consolidated Results………..………………. 6
1
2
3
4
5
2Q16
Financial Position Items…………….....……........... 136
3
3
1. About Us: Profile
Leader in the retail sector in
Mexico
Targeting large and growing market
segments
• Mexico: C / D Segments (~65%)
• Total population: 112 million;
28 million of households (2010)
• Favorable demographics: > 50%
between 20-74 yrs.
• USA: Hispanic population ~54
million (July 2013)
Market niche
Commercial positioning
• 919 business units
• ~1,200 sqm/store (average)
• ~50% share of furniture, electronics,
mobile phones and appliances in sales
• ~80% of sales through consumer credit
• > 4,000 SME clients affiliated with Promobien
• > 1,500 wholesale clients through Mayoramsa
• > 1.3 million clients with Famsa card and avg.
account balance > Ps.13k in Banco Famsa
(>2x sector)
• >1,500 brands and commercial trademarks
E: 31%
C-/D/D+: 49%
C: 15%
C+: 3%
A/B:
2%
Revenue
Mexico Opn.
Operational structure
86%
USA Opn. 14%
Its brand awareness and client loyalty support Grupo Famsa’s commercial positioning
4 1. About Us: Operation & Footprint
Penetration of stores & banking branches
High Medium Low
• 11 distribution centers
• 17 warehouses for transfer
• Fleet > 200 vehicles
• Agreements with > 90 companies in Mexico & USA
Distribution network
• State of the art platform
• Smart inventory management
• Integrated communications network
IT infrastructure
• Installed capacity > 10k sqm for furniture manifacturing
• Motorcycles, JV with Moto Road
• Famsa to Famsa, USA sales to be delivered in Mexico
• > 875k hrs./yr. of training to deliver solutions “in home”
Vertical integration
Famsa Mexico
• 379 stores
• 486 banking branches¹
• Presence in 220 cities
Net work of stores & banking branches
Famsa USA
• 26 stores
• 28 Personal Loans
Branches
Distribution centers
The enhancement of positioning, logistics and integration constitutes our day to day
¹Including 88“to be converted” branches.
5 2. Highlights
Marketing 1
8.2% YoY growth in Consolidated Net Sales
during 2Q16
Solid increase in Consolidated Net Income of
34.3% YoY, reaching Ps.162 million in 2Q16
2016MX
The NPL closed at 9.1% as of June 30, 2016, 40
bps. above 1Q16, due to a lower participation of
commercial loans in the portfolio
Bank deposits posted a significant growth of
25.7% YoY in 2Q16, reaching Ps.19,742 million
USA
Famsa Mexico’s SSS rose 6.9% YoY in 2Q16
The contribution of Seasonal Goods,
Electronics and Mobile Phones stood out in
2Q16
Famsa USA’s Net Sales in pesos increased by
14.5% YoY in 2Q16 as a result of strong
personal loans origination
EBITDA in pesos grew by 23.1% YoY in 2Q16 in
the United States
S E C O N D Q U AR T E R
6
18.9% 18.4%
15.5% 15.5%10.1% 10.7%13.4% 12.8%9.9% 10.5%6.0%
5.5%
23.1%24.0%
4,104 4,440
2Q15 2Q16
20.0% 18.5%
16.2% 16.0%
10.7% 11.4%13.4% 12.7%10.0%
10.1%5.4%5.5%
20.5%22.9%
7,634 8,394
YTD 15 YTD 16
Others
Computers
Motorcycles
Mobile Phones
Appliances
Electronics
Furniture
Personal Loans
2. Consolidated Results
2.4%
-2.3%
-1.1%
-1.1%
6.3%
8.8%
7.1%
10.0%10.7%
5.1%
1Q
14
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
1Q
16
2Q
16
Business-units Retail-area
Net Sales by product mix
Same Store Sales (SSS)
Net Sales by country(Millions of MXP)
87.4% 86.7%
12.6%13.3%4,1044,440
2Q15 2Q16
87.0% 86.3%
13.0%13.7%
7,6348,394
YTD 15 YTD 16
Famsa USA
Famsa MX
8.2%
9.9%
Net Sales recorded a 8.2% growth rate in 2Q16
(Millions of MXP)
444 451
66 6641 40
561 568
2Q15-m2* 2Q16-m2*
To be converted branches
Banking branches
Branches
Stores USA
Stores MX
374 379
26 26
406 398
101 88
923 919
2Q15 2Q16
-0.4%1.3%
*m2 in thousands.
7
422 371
812 745
461 419
882 838
2Q15 2Q16 YTD 15 YTD 16
USA
MX
11.6% 10.0%
1,671 1,7213,159 3,299
1,918 2,013
3,632 3,884
2Q15 2Q16 YTD 15 YTD 16
USA
MX
2. Consolidated Results
47.6%
249 306
521 472
2Q15 2Q16 YTD 15 YTD 16
Gross Profit
Financial expenses, net
EBITDA
46.3%
5.0%
6.9%
-9.0%
-5.0%
6.1%6.9%
6.8%5.6%
11.2% 9.4%
-9.2%
22.7%
46.7% 45.3%
(Millions of MXP)
(Millions of MXP)
(Millions of MXP)
121 162214
321
2Q15 2Q16 YTD 15 YTD 16
Net Income
34.3%
49.6%(Millions of MXP)
2.9%3.7%
2.8%
3.8%
8 3. Famsa Mexico
Same Store Sales (SSS)
Sales by product mix
20.5% 19.4%
13.5% 12.9%9.5% 10.5%11.3% 12.1%10.4% 10.0%6.9% 6.3%
24.9%26.0%
3,5573,818
2Q15 2Q16
-5%0%5%
10%15%20%25%30%
Co
mp
ute
rs
Mo
torc
yc
les
Pe
rso
na
lL
oa
ns
Fu
rnit
ure
Ap
plian
ce
s
Mo
bile P
ho
nes
Ele
ctr
on
ics
Se
aso
na
lG
oo
ds
Sales growth by product category (2Q16)
21.9% 19.5%
13.4% 12.8%
10.0% 11.5%11.5% 11.7%10.9% 10.2%6.3% 6.4%
22.2%24.9%
6,5907,182
YTD 15 YTD 16
Others
Computers
Motorcycles
Furniture
Mobile Phones
Electronics
Appliances
Personal Loans
7.3%
9.0%
Seasonal Goods and Electronics posted strong growth in 2Q16
(Millions of MXP)
-2.8%-5.7%
-1.5%-1.4%
7.5%10.0%
8.0%
11.5%10.0%
6.9%
1Q
14
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
1Q
16
2Q
16
FAMSAMEXICO
ANTAD
9 4. Banco Famsa
17.6%16.2%
14.2% 13.3%11.9%
10.4% 9.8%8.7% 9.1%
Ju
n'1
4
Sep
'14
Dec'1
4
Ma
r'15
Ju
n'1
5
Sep
'15
Dec'1
5
Ma
r´16
Ju
n'1
6
Non-performing Loans Ratio (NPL)**
*Gross Balance
**Includes credits discounted by payroll
Source: Banco Famsa
Portfolio of Loans*
The Non-Performing loans ratio (NPL) was 9.1% as of June 30, 2016
15,74716,405
17,21517,822 17,938
2Q15 3Q15 4Q15 1Q16 2Q16
13.9%(Millions of MXP)
Consumer78%
Commercial22%
2Q15
Consumer80%
Commercial20%
2Q16
Portfolio of Loans Mix
10 4. Banco Famsa
Bank deposits grew by 25.7% YoY, reaching Ps.19,742 million in 2Q16
Demand deposits
10%
Opnl Availability
21%
Time Deposits69%
2Q15
Demand deposits
10%Opnl
Availability19%
Time Deposits71%
2Q16
Bank 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
15,70716,501
18,359 18,611 19,742
2Q15 3Q15 4Q15 1Q16 2Q16
4.4%4.2% 4.1% 4.1% 4.1%
Bank Deposits
11 4. Banco FamsaThe Commercial Loans Portfolio rose by 8.3% YoY in 2Q16
Microcredits SMEs Enterprises
#-Loans 6,157 253 92
Avg.
Loan*
Ps.20,000 1.6 MMxp 16.8 MMxp
Avg.
Term
23 months 37 months 38 months
Avg.
Rate
64.0% 11.6% 9.3%
Guarantees No Guarantor/Solidary
Obligor/Nafin
Guarantor/ Solidary
Obligor/Nafin
Source: Banco Famsa
SME´s13%
Microcredits3%
Corporate57%
Others27%
2Q16
Commercial Loans Portfolio Mix
SME´s 11%
Microcredits 3%
Corporate 65%
Others 21%
2Q15
3,392
3,7243,898
4,198
3,675
2Q15 3Q15 4Q15 1Q16 2Q16
Comercial Loans
+8.3%
(Millions of MXP)
2.3%2.0% 2.1%
2.5% 2.3%
12
2.4%1.3%
4.0%
1.0%
0.4%2.7%
3.4%1.3%
-3.9%
-6.8%
1Q
14
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
1Q
16
2Q
16
5. Famsa USA
Same Store Sales (SSS)*
50.7% 50.9%
12.9%12.2%14.3%11.7%7.5%11.6%5.6%
5.8%517
592
2Q15 2Q16
Sales by product mix
0%
10%
20%
30%
40%
50%
2Q
15
3Q
15
4Q
15
1Q
16
2Q
16
Personal Loans sales growth by quarter
51.3% 52.2%
13.0%12.3%15.0%11.4%7.7%
11.9%4.8%
5.1%3.3%
5.0%990
1,154
YTD 15 YTD 16
Computers
Others
Famsa to Famsa
Personal Loans
Electronics
Appliances
Furniture
F to F
14.5%16.6%
Personal Loans drove the sales performance in 2Q16
*% variations are referenced to figures in US dollars.
(Millions of MXP)
13
18,359 19,742
6,9067,986
25,26527,728
4Q15 2Q16
Net debt
Bank deposits
2,453 2,582
4Q15 2Q16
15,973 17,959
4,0093,585
2,6242,771
22,606 24,314
4Q15 2Q16
Consumer USA
Commercial MX
Consumer MX
6. 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 8,579
4Q15 2Q16
7.6%9.7%
5.3% 5.4%
2Q16 trade receivables rose in tandem with Net Sales growth
(Millions of MXP) (Millions of MXP)
(Millions of MXP) (Millions of MXP)
14 6. Financial Position Items: Debt Structure
6.4%
67% 67%
25%23%
8%10%
27,460 29,422
4Q15 2Q16Bank Deposits Debt Certificates** Credit Lines
57% 51%
20% 26%
23% 23%
4Q15 2Q16
Foreign Debt Credit Lines Debt Certificates
9,101 9,680
Debt Profile(Millions of MXP)
Debt Maturity Profile(Millions of MXP)
Funding Sources(Millions of MXP)
** Includes local notes and foreign senior notes.
7.1%
946 1,260
1,929
588
318 4,632
2016 2017 > 2018Foreign Debt Credit Lines Debt Certificates
5,220
1,267
7
3,193
15 Note on Forward-Looking Statements
This presentation contains, or may be deemed to contain, forward-looking statements. By their
nature, forward-looking statements involve risks and uncertainties because they relate to events
and depend on circumstances that may or may not occur in the future. The future results of
Grupo Famsa, S.A.B. de C.V. and its subsidiaries may differ from the results expressed in, or
implied by, the forward-looking statements set out herein, possibly to a material degree.
16
Investor
Relations
Paloma [email protected]
+52 (81) 8389 3405
ContactWe have a strong commitment to keeping you updated. Please do not hesitate to contact us.