2q07 | 1 unibanco and unibanco holdings, s.a. investor relations consolidated earnings 2 nd quarter...
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2Q07 | 1
Unibanco and Unibanco Holdings, S.A.
Investor Relations
Consolidated Earnings
2nd Quarter 2007
August 10th, 2007
2Q07 | 2
2Q07
841
1H07
1,422
638 1,219
203 203
Net income
Recurring Net Income
Result from non recurring events
R$ Million
Performance
35.9% 29.3%
26.7% 25.1%
ROAE
ROAE before non recurring events
2Q07 | 3
Net Income
Results from non recurring events
Income Statement SummaryR$ Million
Gross Profit from Financial Intermediation
Personnel and Administrative Expenses
Fees from Services Rendered
Provisions for Loan Losses
Net Profit from Financial Intermediation
Operating Income before non recurring events
Net Income before non recurring events
2Q061Q072Q07 1H061H07
1,8842,076
869910
(1,384)(1,417)
9381,045
581 841
1,724
876
(1,347)
875
548
(524)(545) (668)
2,4082,621 2,392
3,960
1,779
(2,801)
1,983
1,422
(1,069)
5,029
3,440
1,715
(2,675)
1,715
1,068
(1,310)
4,750
-203 - 203 -
581 638 548 1,219 1,068
Tax Rate 21%24% 25% 21% 25%
2Q07 | 4
Non recurring events result
Result from non recurring events
Other provisions
Result from the sale of Serasa's stake
Provision for loan losses
Change in participation on our subsidiary UPS
Labor, civil, and fiscal provisions
(47)
285
203
(142)
679
(572)
R$ Million
Non recurring events(1)
(1) Net of taxes
2Q07 | 5
Annualized ROAE Stockholders’ Equity (R$ Bln)
Net Income(1)
Operating Income(1)
PerformanceR$ Million
2Q07/2Q062Q07 1H07 1H07/1H06
+ 19.4%1,045 1,983 + 15.6%
+ 16.4%638 1,219 + 14.1%
23.0%
8.7
2Q05
26.7%(1)
10.8
2Q07
24.7%
9.8
2Q06 1Q07
10.3
25.1%
1H06 1H071H05
9.8
8.7
10.8
21.4%
25.1%(1)
23.6%
(1) Before non recurring events
Performance
2Q07 | 6
Destaques
Total loan portfolio growth:
9.9% QoQ (5.5% in the Brazilian Financial System)
23.2% YoY (21.4% in the Brazilian Financial System)
Commercial Bank: 19.3% QoQ (39.3% YoY)
Credit Cards: 9.4% QoQ (31.5% YoY)
Loan Portfolio
18.4% reduction in provision for loan losses, 2Q07 vs 2Q06, maintaining coverage
Better ratio of D to H portfolio over total loans (5.2% vs 6.9% in June 2006)
Better ratio of non-accrual portfolio over total loans (4.5% vs 5.3% in June 2006)
100% D to H loan portfolio coverage
Asset Quality Improvement
Stocks Unibanco ADTV(1) (Bovespa + NYSE): R$339 million in 2Q07 versus R$198 million in
2Q06, a 71% increase
Market Capitalization(2): R$30.5 billion
OperationalEfficiency
Personnel and Administrative Expenses for companies under Unibanco’s direct management in 1H07:
- 4.6% reduction compared to 2H06 - 2.0% variation from 1H06, below the 3.7% inflation (IPCA) in the period - 7.6% reduction in Other Administrative Expenses compared to 2H06 - Flat Personnel Expenses compared to 2H06
Highlights
(1) Average Daily Trading Volume
(2) As of August 7th, 2007
2Q07 | 7
2Q072Q06
2Q06 = 100
Performance – 2Q07 versus 2Q06
100
LoanPortfolio
100
AdministrativeExpenses
100
OperatingIncome(1)
100
Net Income(1)
100
Provision for Loan Losses
100
Core Deposits
123
105
119116
82
(1) Before non recurring events
129
2Q07 | 8
2Q071Q07
Performance – 2Q07 versus 1Q07
100
LoanPortfolio
100
AdministrativeExpenses
100 100
100
Provision for Loan Losses
100
Core Deposits
1Q07 = 100
110
102111 110
104105
(1) Before non recurring events
OperatingIncome(1)
Net Income(1)
2Q07 | 9
Financial Indicators
Net Profit from Financial Intermediation(R$ Million)
Total Assets (R$ Billion) Loan Portfolio (R$ Billion)
Earnings per Share (R$)
1,9021,724
0.210.20 0.20
1,9571,884 0.21
Dec-06
2Q06 3Q06 4Q06 1Q07
Mar-07 Jun-06 Dec-06 Mar-07Sep-06 Sep-06Jun-06
2Q06 3Q06 4Q06 1Q07
Jun-07 Jun-07
2Q07 2Q07(1)
2,0760.23
(1) Before non recurring events
104
98
45
10242
43
11547
130 52
2Q07 | 10
Wholesale
Retail
R$ Million
Loan Portfolio Growth
Brazilian Financial System
13.9%23.2%9.9%
9.1%21.4%5.5%
1H07 Quarter 12 months
23.2%
Mar-07 Jun-07
9.9%
12.0%
Jun-06
41,929
6.9%
17,995
51,644
30,612
21,032
47,001
27,330
19,671
23,934
2Q07 | 11
Credit: UBB x Brazilian Financial System
100
111115
121
108112
123
Mar-07 Jun-07Jun-06 Dec-06
Brazilian Financial System
Credit Evolution
Jun-06 = 100
2Q07 | 12
Individuals
Car Loans
Corporate
Total Portfolio
Loan Portfolio Growth
Credit Cards
Consumer Finance Companies
Jun-06Mar-07Jun-07
R$ Million
Mortgages
SMEs
Large Corporate
Portfolio highlights
Quarter %
12 months
9.9
15.0
23.2
44.7
7.2 18.9
14.0 30.1
41,929
25,881
16,04818,31920,883
28,68230,761
47,00151,644
4,1174,9475,412
2,8092,7152,762
31.59.4
-1.71.7
1,4561,5451,586 8.92.7
7,8869,0119,729 23.48.0
17,99519,67121,032 16.96.9
3,9805,0095,759
Payroll32.112.41,0601,2461,400Own portfolio
360.788.14961,2152,285Acquired portfolio
Branch network 10.9 16.54,7204,9595,499
49.7 136.81,5562,4613,685
2Q07 | 13
Jun-06 Jun-07
Credit Cards
R$ MillionR$ Million
Billings (Unicard + Hipercard)Loan Portfolio (Unicard + Hipercard)
Number of cards (In Million)
2Q06 2Q07
+31.5%
4,117
5,412
+35.3%
4,402
5,958
Jun-04 Jun-05 Jun-06 Jun-07
Total Cards
Credit Cards (A+B)
Private Label Cards
Hipercard (B)
Visa + Mastercard (A)
12.0
8.7 15.6
18.0
12.9
23.1
5.1
9.09.3
7.53.3
8.4
2.5
5.3
7.8
8.5
27.021.316.2 31.6
2Q07 | 14
Financial Margin After Provision Financial Margin
Provision for Loan Losses / Financial Margin
-830 b.p.
15.25%
12.00%
Selic Rate
Financial Margin
21.8%
27.9%
2Q073Q06 4Q062Q06
21.4%
1Q07
29.1%
4Q05
23.3%
20.8%
2Q06 2Q07
9.0%
10.7%
7.6%
7.1%
1Q07
7.2%
9.3%
2Q07 | 15
5.2%6.2%6.9%
Jun-06 Mar-07 Jun-07
Asset Quality
D to H Portfolio / Loan Portfolio
Coverage E to H Portfolio
Coverage D to H Portfolio
92%81%
Jun-06 Mar-07 Jun-07
100%
116%109%
Jun-06 Mar-07 Jun-07
123%
2Q07 | 16
Demand Deposits
Savings Deposits
Core Deposits CDs
Core Deposits
Time Deposits + Debentures
Assets Under Management (B)
Total Deposits + Debentures + AUM (A+B)
Total Deposits + Debentures (A)
Core Deposits / Total Deposits
R$ Million
Jun-07 Mar-07 Jun-06
Deposits and Assets under Management
4,626
8,045
5,149
17,820
28,984
94,331
46,804
47,527
53%
5,187
4,201
30,049
41,081
36%
4,014
7,510
5,478
17,002
45,606
29,430
92,038
46,432
49%
4,405
13,793
84,923
43,842
2Q07 | 17
R$ Million
AdministrativeExpenses
Personnel Expenses
Personnel and Administrative Expenses
Companies under Unibanco´s direct management
2Q06 2Q071Q07
1.7%
2.2%
1H06 1H072H06
-4.6%
2.0%
771
523
1,294
781
541
1,322
778
522
1,300
1,526
1,045
2,571
1,559
1,063
2,622
1,687
1,061
2,748
2Q07 | 18
Fees from Services Rendered
R$ Million
Total fees from services rendered
Banking fees, other fees and commissions
Credit Cards(1)
Assets under management
1Q072Q07 2Q06
529
89
910
516
80
869
Redecard
141 121
57 62
Subtotal 853 807
Other fees 94 90
(1) Hipercard + Unicard
492
90
876
107
90
786
97
1H07 1H06
1,045
169
1,779
262
119
1,660
184
952
187
1,715
209
178
1,537
189
2Q07 | 19
Efficiency Ratio
Revenues
R$ Million
Efficiency Ratio Expenses
2Q07
2,997
1,417
2Q04
1,961
1,242
2Q05
2,337
1,233
2Q06
2,872
1,347
1Q07
2,835
1,384
52.8%
63.3%
47.3%46.9%48.8%
2Q07 | 20
Capital Adequacy Ratio
(1) Estimate for July, 2007
BIS Ratio
Dec-06 Jun-07Jun-06 Mar-07 Jul-07
15.0%16.0%
13.3%14.0%
15.0%(1)
According to Brazilian Central Bank’s new rules
Jul-07
13.5%(1)
2Q07 | 21
1,084
650
118
(68)
35
88
929
487
107
(63)
29
97
2Q07 1Q07 2Q06
1,142
625
106
(63)
35
69
75 8653
Income Statement Summary
9,218
45.0%
7,593
47.3%
8,730
47.3%
94.6% 94.0%94.4%
R$ Million
Insurance and Pension Plans
1H07 1H06
1,778
961
186
(121)
59
189
2,226
1,275
224
(131)
70
158
168128
51.4%46.1%
93.9%94.5%
9,218 7,593
Net premiums written
Premiums earned
Industrial result
Personnel and administrative expenses
Operating income
Net Income
Financial & equity result
Technical Reserves
Loss Ratio
Combined Ratio
2Q07 | 22
Broker dealer
Use Unibanco’s resources available from the “Revenue Reserve” account
6 months, from August 10th, 2007 on
Company’s Objective
Unibanco Investshop Corretora de Valores Mobiliários S.A.
Authorized dates for the program
Unibanco and Unibanco Holdings Board of Directors approved share acquisition by Unibanco
Stock Repurchase Program
2Q07 | 23
Unibanco’s Units gained 60% last 12 months
Market Cap(1): R$30.5 billion
Units’ participation on Ibovespa continues to
improve. The share participation has increased
more than 100% since its inclusion, on May 2005
Units (UBBR11) versus Ibovespa
GDSs (UBB) versus Dow Jones
UBB: 70%
Dow:20%
Units and GDSs
UBBR11:
60%
IBOV:
48%
Jul-06 Sep-06 Dec-06 Mar-07 Jun-07
Jul-06 Sep-06 Dec-06 Mar-07 Jun-07
(1) As of August 7th, 2007
Weight (%)
Ibovespa 1.946 IBrX-50 3.464 IBrX-100 3.012 IGC Corporate Governance Index 3.286 ISE Susteinability Index* 5.884
(*) Valid from December 2006 to November 2007.
Index May to Aug-07
2Q07 | 24
171
44
1Q07
215254
85
2Q07
339
25
28
2003
3 64
19
2005
83
14
2
16
20011997
12
1
13
11
1
12
1999
48%
96%
58%
Units (UBBR11)
GDSs (UBB)
R$ MillionAverage Daily Trading Volume(Bovespa and NYSE)
Units and GDSs
144
31
2006
175
2Q07 | 25
Sarbanes-Oxley Law
On June 15th, Unibanco and Unibanco Holdings achieved
the SOX Certification, regarding internal controls over
US GAAP Consolidated Financial Statements
This achievement reaffirms Unibanco's commitment to the quality
of the integrated management of process, risk and control, as well
as the high quality standards of corporate governance practices
adopted and the transparency of financial statements disclosure
Sarbanes-Oxley Certification
2Q07 | 26
Unibanco APIMEC Meetings 2007
Brasília
Hotel Blue Tree
September 17th, 6pm
Porto Alegre
Hotel Sheraton
November 22nd, 6pm
Belo Horizonte
Ouro Minas Palace Hotel
October 9th, 6pm
São Paulo
Buffet Rosa Rosarum
December 3rd, 3:30pm
Rio de Janeiro
Bolsa de Valores
August 22nd, 6pm
Unibanco Day
Nova York
NYSE – New York Stock Exchange
December 11th
Save the Date
2Q07 | 27
Unibanco and Unibanco Holdings, S.A.
This presentation contains forward-looking statements regarding Unibanco, its subsidiaries and affiliates - anticipated synergies, growth plans, projected results and future strategies. Although these forward-looking statements reflect management’s good faith beliefs, they involve known and unknown risks and uncertainties that may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, but are not limited to our ability to realize the amount of the projected synergies and the timetable projected, as well as economic, competitive, governmental and technological factors affecting Unibanco’s operations, Junkets, products and prices, and other factors detailed in Unibanco’s filings with the Securities and Exchange Commission which readers are urged to read carefully in assessing the forward-looking statements contained herein. Unibanco undertakes in duty to update any of the projections contained herein.
Investor Relationsphone: 5511-3584-1980
fax: 5511-3584-1585email: [email protected]
website: www.ir.unibanco.com