presentación de powerpoint - falabella.com · 1 mall 26,000 m2 gla. key figures 5 ... management...

SACI FALABELLA

CORPORATE PRESENTATION

AUGUST 2015

CONTENTS

• The Company

• Key Investment Highlights

• Consolidated Statements

• Corporate Structure

• Overview per Business Unit

FIVE BUSINESS UNITS – 126 YEARS OF HISTORY

3

DEPARTMENT

STORES

HOME

IMPROVEMENTSUPERMARKETS

FINANCIAL

SERVICESREAL ESTATE

US$ 4,055 mRevenues

US$ 5,713mRevenues1

US$ 1,986 mRevenues

US$ 6,038 mLoan Book

2.0 millionm2 GLA2

1 million m2 of additional GLA in free standing stores in the

region.

100 stores 244 stores 102 stores4.7 million

CMR accounts20 / 19

Malls / Power

& Shopping Centers

Note: Revenues as of June 2015 LTM. Number of stores/malls as of August 25th 2015. Number of CMR accounts as of June 2015. FX rates as of July 1st, 2015 (639.04 CLP/US$).

Data includes Sodimac Colombia and Aventura Plaza, which do not consolidate.

1. Does not include Uruguay revenue.

2. The Falabella Group owns 991.000 m2 of additional GLA in free standing stores across the region.

PRESENCE IN 6 COUNTRIES IN LATIN AMERICA

4

Note: Number of stores and sales area as of August 25th 2015. Number of CMR accounts with balance and employees as of June 2015.

Includes Sodimac Colombia and Aventura Plaza in Peru, which the Company does not consolidate.

DEPARTMENT STORESHOME

IMPROVEMENTSUPERMARKETS FINANCIAL SERVICES REAL ESTATE

45 stores

304,000 m2

85 stores

703,000 m2

53 stores

187,000 m2

2,353,000 active

CMR cards

25 malls

1,422,000 m2 GLA

26 stores

162,000 m2

57 stores

372,000 m2

49 stores

182,000 m2

1,033,000 active

CMR cards

18 stores

114,000 m2

35 stores

338,000 m2

817,000 active

CMR cards

11 stores

58,000 m2

8 stores

84,000 m2

519,000 active

CMR cards

58 stores

132,000 m2

1 store

12,000 m2

13 malls

521,000 m2 GLA

1 mall

26,000 m2 GLA

KEY FIGURES

5

Note: Revenues and EBIDA does not consider Sodimac Colombia and Aventura Plaza in Peru, which do not consolidate.

Number of stores and sales area as of August 25th 2015.

CMR Accounts

446stores

39malls

Loan Book

2,649,000 m2

sales area

1,969,000 m2

GLA

6,038 M US$ +4,722,000

Total Revenues

12,475 M US$

Mix by Country (LTM)

+49,900

+29,200

+14,600

+5,500

+3,500

+200

Employees in the Region

Main Figures

59%

25%

6%

7% 2% <1%

Revenues

Total: 102,900

71%

21%

5%4%

EBITDA

CONTENTS

• The Company





KEY INVESTMENT HIGHLIGHTS

7

1. 2. 3. 4.

5. 6. 7.

Leadership in Latam

across formats Responsible

growth strategy

Customer

centric strategy

Experienced management

team

Differentiating

brands

Sustainable business

development

Corporate governance

practices

CMR Accounts

2,353,000

1,033,000

817,000

519,000

Revenues

1,003 M US$

983 M US$

Revenues

2,986 M US$

891 M US$

1,275 M US$

263 M US$

297 M US$

1. LEADERSHIP IN LATAM ACROSS FORMATS

8

Home Improvement Financial Services

Revenues

2,040 M US$

895 M US$

581 M US$

538 M US$Only relevant player

Department Stores Real Estate

25 Shopping Malls

GLA 1.4 M m²

13 Shopping Malls

GLA 0.5 M m²

1 Shopping Mall

Supermarkets

Market position

Department Stores in Chile Home Improvement in Chile Supermarkets in Peru

1. Revenues as of June 2015 LTM. Number of CMR accounts, malls and GLA as of June 2015. FX rates as of July 1st, 2015 (639.04 CLP/US$).

2. Sales per square meter as of March 2015. FX rates as of April 1st, 2015 (626,67 CLP/US$). Tottus’ sales area excludes check out area, in order to compare with peer’s reported sales per

square meter.

Sales / m2 (US$)2

#1

#1

#1

#1

#1

#1

Market position Market position

#2

#3

#4

#4

Market position Market position

#1

#1

#1

#1

Market Position1

2013

2. RESPONSIBLE GROWTH STRATEGY

9

2002 2003 2004 2006 2007 2014

Launch of

Móvil

Falabella

Falabella

acquires

San Francisco

in Chile

First Tottus

opened

in Peru

Falabella &

CMR enter

Colombia

Sodimac

acquires

Dicico

in Brazil

Sodimac

acquires

Imperial

in Chile

1980 1990 1993-5

Falabella

launches

CMR

Falabella

develops its

first shopping

center

Mall Plaza

Entry to

Argentina, Peru

and Colombia

Sodimac

acquires

Maestro

in Peru

19991998

Banco

Falabella

launched

in Chile

2005 2010-112001

Falabella.com

launched

in Chile

Falabella.com

launched

in Argentina

Sodimac.com

launched

in Peru

Sodimac.com

launched

in Colombia

Tottus.com

launched in

Peru

Sodimac.com

launched

in Chile

2008

Falabella

acquires

Casa Estrella

in Colombia

Mall Plaza

acquires Mall

Las Americas

in Chile

Sodimac opens first Homecenter

stores in Brazil and Uruguay

2015

Organic Initiatives

Mergers & Acquisitions

Falabella.com

launched

in Colombia

Tottus.com

launched in

Chile

Falabella &

Sodimac

merge

2009

Launch of

Homy

Investment Plan 2015 - 2018

10

Investment (US$ m)

investment for the

next 4 years

Store and Mall Openings

140 stores

11 malls

Note: Figures include 100% of the investment in fixed assets, including Sodimac Colombia and Aventura Plaza, which the Falabella Group does not consolidate in the Financial Statements.

US$ 4.4 bn

INVESTMENT PLAN 2015 - 2018

Stores Malls

3. DIFFERENTIATING BRANDS

11

Exclusive Brands

Private Labels

4. CUSTOMER CENTRIC STRATEGY

12

+290million

transactions in our retail businesses

350million

visits to our shopping centers

in the region

+4.7million

CMR accounts with a balance

+1.4million

bank accounts withBanco Falabella

Passengers travelled using

Viajes Falabella

300,000

Commercial

Platform

Self Service

Stations

ATM

Contact

Center

Points of

Sale

Social

Networks

Mobile

Apps

Websites

→

→

→

→ When does

she purchase

What does

she like

How much

does she

spend

Means of

payment

What does

she buy

Where

does she

purchase

→

→

Our Customers1

Customer knowledge through consistent interaction

1. Number of CMR accounts as of June 2015. Other data as of December 2014.

5. EXPERIENCED MANAGEMENT TEAM

13

CEO- 20 years -

General

Counsel

- 20 years -

Peru Country

Manager

- 26 years -

Colombia

Country

Manager

- 20 years -

Chief

Planning and

Development

Officer

- 6 years -

CFO

- 8 years -

Argentina

Country

Manager

- 16 years -

Brazil Country

Manager

- 2 years -

CIO

- 23 years -

Department

Stores GM

- 15 years -

Home

Improvement

GM

- 13 years -

Supermarkets

GM

- 13 years -

Financial

Services GM

- 6 years -

Mall Plaza

GM

- 25 years -

Open Plaza

GM

- 20 years -

+102,900employees

46%women

+75,000employees

evaluated

+3.6million hours

of training

30%of employees

belong to a union.

53% in Chile.

16 years

in averagein the Group

Note: Number of employees as of June 2015. Other figures as of December 2014.

Main Executives

Employees

6. SUSTAINABLE BUSINESS DEVELOPMENT

14

57 courses taught in17 schools from

Haciendo Escuela

Financial

Education

Program

Implemented in low- income

schools

Partnership with

18 certified stores and

1 shopping center

with LEED

pre-certification

30 stores and

19 eco-friendly

shopping centers

91schools

+81,000students benefited

Haciendo

Escuela

specialist workers

Círculo de

Especialistas

Note: Information as of December 2014.

+20,000 suppliers

50% SMEs

Community

Suppliers Environment

Healthy

Eating

Program

Biblioteca

Viva

9 libraries inside malls155,000 materials

provided

+350,000

Falabella

Sodimac

7. CORPORATE GOVERNANCE PRACTICES

15

Note: Information as of 31st March 2015

Audit

Committee

Strategy

Committee

Compensation

and Talent

Committee

Presence of an

independent

director at

holding level

and in relevant

subsidiaries

Chairman

Carlo Solari Donaggio 2014

Vice-Chairman

Juan Carlos Cortés Solari 2014

Directors

José Luis del Rio Goudie 2003

Sergio Cardone Solari 1986

Carolina del Rio Goudie 2011

María Cecilia Karlezi Solari 2003

Paola Cuneo Queirolo 2014

Carlos Alberto Heller Solari 2002

Independent Director

Hernán Büchi Buc 1996

Controlling

Group

consisting of

7 families

Free Float

19%

Controlling

Group

81%

Board of Directors Board Committee

CONTENTS

• The Company





CONSOLIDATED STATEMENTS

17Note: Financial information at FX rates as of July 1st, 2015 (639.04 CLP/US$).

Income Statement

(USD Million) 2Q14 2Q15 Var % 1S14 1S15 Var %

Total Revenues 2,845 3,133 10.1% 5,543 6,183 11.6%

Gross Profit 994 1,121 12.8% 1,919 2,172 13.2%

Gross Margin 34.9% 35.8% 34.6% 35.1%

SG&A Expenses (701) (799) 14.0% (1,366) (1,562) 14.3%

SG&A / Revenues (24.6%) (25.5%) (24.7%) (25.3%)

Operational Income 293 322 9.9% 553 610 10.4%

Operational Margin 10.3% 10.3% 10.0% 9.9%

Depreciation + Amortization 77 90 152 181

EBITDA 370 411 11.2% 704 791 12.3%

EBITDA Margin 13.0% 13.1% 12.7% 12.8%

Other Income / (Expenses) (2) 1 1 (6)

Net Financial Income / (Cost) (72) (79) (125) (123)

Profit / (Loss) in Associates 7 8 18 19

Exchange Rate Differences (5) (1) (24) (16)

Non-Operating Profit (71) (70) (1.2%) (131) (126) (4.2%)

Profit Before Tax Expenses 221 251 13.5% 422 485 14.9%

Income Tax (43) (54) (82) (108)

Minority Interest (15) (16) (29) (30)

Net Profit / (Loss) 164 181 10.0% 311 346 11.5%

Net Margin 5.8% 5.8% 5.6% 5.6%

CONSOLIDATED STATEMENTS

18

Note: Financial information at FX rate as of July 1st, 2015 (639.04 CLP/US$).

Balance Sheet

(USD Million) Dec 14 Jun 15 (USD Million) Dec 14 Jun 15

Cash & cash equivalents 331 274 Other current financial liabilit ies 1,153 1,123

Current trade & other receivables 2,286 2,361 Current trade & other payables 1,512 1,275

Inventories 1,595 1,603 Others 448 396

Others 277 267

Total Non-Banking Current Assets 4,489 4,506 Total Non-Banking Current Liabilit ies 3,112 2,794

Non-Current trade & other receiv ables 323 316 Other non-current financial liabilit ies 3,625 3,828

Goodwill 724 716 Others 685 687

PP&E & Investment properties 6,638 6,724

Others 891 1,006

Total Non-Banking Non-Current Assets 8,575 8,762 Total Non-Banking Non-Current Liab. 4,310 4,515

Total Non-Banking Operations Assets 13,064 13,267 Total Non-Banking Oper. Liabilit ies 7,421 7,309

Loans & accounts receiv able from clients 3,412 3,588 Total Banking Oper. Liabilit ies 3,857 4,281

Others 1,278 1,484 TOTAL LIABILITIES 11,278 11,590

Total Banking Operations Assets 4,690 5,071 Shareholders' Equity 6,476 6,748

TOTAL ASSETS 17,754 18,339 TOTAL EQUITY & LIABILITIES 17,754 18,339

FINANCIAL SITUATION

19

w/o Banking Operations (times)

4,735 M US$

58%PublicBonds

42%Financialinstitutions

Note: Financial information at FX rate as of July 1st, 2015 (639.04 CLP/US$).

1. Does not include accrued interests

5.43 years

duration

w/o Banking Operations

Net Financial Debt / EBITDA Debt Profile

w/o Banking Operations (times)

Leverage

Financial Debt1

w/o Banks

Maestro

effect

18%Short-term

CONTENTS

• The Company





CORPORATE STRUCTURE

21

SACI Falabella

Chile Peru1 Argentina Colombia

94%

Brazil Uruguay

Sodimac 100%

Imperial 60%

Tottus 88%

CMR 100%

Banco Falab.100%

Open Plaza 100%

Mall Plaza 60%

Falabella 100% Saga Falab. 95%

Sodimac 100%

Tottus 100%

Banco Falab.100%

Open Plaza 100%

Avent. Plaza 40%2

Falabella 100%

Sodimac 100%

CMR 100%

Falabella 65%

Banco Falab. 65%

Sodimac 49%2

Mall Plaza

100%

20%

Dicico 50.1%

Maestro 100%

Sodimac 100%

1 Through Falabella Perú S.A.A..

2 Does not consolidate.

CONTENTS

• The Company





• 100 stores in Chile, Peru, Colombia and Argentina

• Main categories: apparel, home electronics and home decor

• Diverse portfolio of private brands, second generation

and exclusive brands, in addition to international brands

• Leading online retailer

• Operates specialty stores for exclusive and second generation

apparel and footwear brands

DEPARTMENT STORES

23

Peru 26 Stores

Colombia 18 Stores

Chile 45 Stores

Argentina 11 Stores

Note: Figures in US$ converted using the July 1st, 2015 (639.04 CLP/US$). Number of stores as of August 25th, 2015.

1. Sales LTM divided by average m2

Revenues Sales / m2 1

(US$, June 2015 LTM)(US$ m, June 2015 LTM)

Total: 4,055 US$ m

Private brands

Localmarket

customizationDifferentiation

Profitability

Business Overview

Regional Footprint

• 244 stores in Chile, Peru, Colombia, Argentina, Brazil and Uruguay

• Main categories: construction materials and home improvement

products , carpentry, design furniture and home terminations

• Six formats: Homecenter, Sodimac Constructor, Imperial,

Homy, Dicico and Maestro

• Expertise in selling directly to construction sector players and large companies

• Strong online sales strategy

Brazil 58 Stores

Uruguay 1 Stores

Peru 57 Stores

Colombia 35 Stores

Chile 85 Stores

Argentina 8 Stores

HOME IMPROVEMENT

24

Business Overview

Regional Footprint Revenues Sales / m2 1

(US$ m, June 2015 LTM) (US$, June 2015 LTM)

Total 2 : 5,713 US$ m

Note: Figures in US$ converted using the July 1st, 2015 exchange rate (639.04 CLP/US$). Number of stores as of June 2015.


2, Does not include revenue from Uruguay.

DIY

Families

Contractors &specialists

Construction companies

• Started operations in 2002 in Peru under Tottus brand and entered

Chilean market in 2004 with the acquisition of San Francisco

• Operates 102 stores in Chile and Peru, with three formats:

hypermarkets , supermarkets and Hiperbodega Precio1

• Increased penetration of private labels

• E-commerce platform

Peru 49 Stores

Chile 53 Stores

SUPERMARKETS

25

Business Overview

Regional Footprint Revenues

(US$ m, June 2015 LTM)

Sales / m2 1

(US$, June 2015 LTM)

Total: 1,986 US$ m

Note: Figures in US$ converted using the July 1st, 2015 exchange rate (639.04 CLP/US$). Number of stores as of June 2015.


Sales area considered for Tottus does not include the cash area in order to be comparable with peer’s sales area.

Price positioning

SupermarketsHypermarkets

Bodegas

Private labelproducts

Weekly deals

• Falabella Financiero offers a mix of integrated financial products and services.

• Provides customers access to credit, combining the traditional financial business with the proximity to customers through retail formats.

• Five business units: CMR Falabella (credit card), Banco Falabella (bank), Seguros Falabella (insurance broker), Viajes Falabella (travel agency) and Móvil Falabella (mobile virtual operator)

• Operates in Chile, Peru, Colombia and Argentina

Peru

Colombia

Chile

Argentina

FINANCIAL SERVICES

26

1. Per local regulation (not comparable across the countries)

Note: Figures in US$ converted using the July 1st, 2015 exchange rate (639.04 CLP/US$).

Business Overview

Regional Footprint Loan Loss Provision1

(%, June 2015)

2.3 m CMR accounts95 bank branches



0.5 m CMR accounts

Total: 6,038 US$ m

Gross Loan Portfolio

(US$ m, June 2015)

Integratedoffering

LoyaltyFrequency

Immediate needs

TransparencyConvenience

Simplicity

• Largest operator in Chile and Peru, and one of the leaders

in Latin America:

• Mall Plaza: Operates large shopping malls in Chile,

Peru (through Aventura Plaza) and Colombia.

• Open Plaza: Operates small shopping centers with

2 or 3 anchor stores, as well as other third-party

minor stores.

REAL ESTATE

27

1. Owned by the company throughout the region.

2. Information for Mall Plaza shopping centers as of December 2014

Business Overview

Regional Footprint

Meetingplaces

Urban centers

Sustainableconstruction

EntertainmentShoppingCulture

+2,200

specialty

stores

9

public

libraries

+390

restaurants

11

educational

institutions

39

game

areas

98

cinema

screens

16

gyms

3

exhibition

rooms

14

medical

centers

Integrated Offering2

jun-14 jun-15 jun-14 jun-15

Mall Plaza 14 15 1.136 1.190

Open Plaza 10 10 235 232

CHILE 24 25 1.371 1.422

Aventura Plaza 4 4 258 274

Open Plaza 8 9 232 247

PERU 12 13 490 521

Mall Plaza 1 1 26 26

COLOMBIA 1 1 26 26

TOTAL 37 39 1.887 1.969

Free Standing Stores1 792 991

# Shopping Malls '000 GLA

CONTACT INFORMATION

Jordi Gaju

Chief Development Officer

[email protected]

Alejandro González

Chief Financial Officer

[email protected]

Isabel Darrigrandi

Head of IR

[email protected]

María Paz Fernández

IR Analyst

[email protected]

www.falabella.com/inversionistas

[email protected]

Phone: +56 2 2380 2012

DISCLAIMER

This presentation contains forward-looking statements, including statements

regarding the intent, belief or current expectations of the Company and its

management. Investors are cautioned that any such forward-looking

statements are not guarantee of future performance and involve a number

of risks and uncertainties including, but not limited to, the risks detailed in the

Company’s financial statements, and the fact that actual results could differ

materially from those indicated by such forward-looking statements.

presentación de powerpoint - falabella.com · 1 mall 26,000 m2 gla. key figures 5 ... management...

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