3q07 | 1 unibanco and unibanco holdings, s.a. investor relations consolidated earnings 3 rd quarter...
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3Q07 | 1
Unibanco and Unibanco Holdings, S.A.
Investor Relations
Consolidated Earnings
3rd Quarter 2007
November 9th
3Q07 | 2
9M07
2,621
1,885
736
Net income
Recurring net income
Result from non recurring events
R$ Million
Performance
33.7%
24.5%
ROAE
ROAE before non recurring events
3Q07
1,199
667
532
50.2%
26.5%
3Q07 | 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
Net Income before non recurring events
2Q07
2,076
910
(1,417)
1,045
841
(545)
2,621
203
638
Tax Rate 24%
3Q07 3Q06 9M069M07
7,231
(1,889)
5,342
2,600
(4,109)
2,626
(460)
1,174
21%
1,634
Operating Income before non recurring events
106
2,481
(579)
1,902
885
(1,434)
911
(460)
21%
566
6,060
2,704
(4,215)
3,006
2,621
(1,629)
7,689
736
1,885
24%
2,100
925
(1,414)
1,024
1,199
(560)
2,660
532
667
22%
Other Operating Income (Expenses) (524) (1,207)(442) (1,543)(587)
3Q07 | 4
-
Gain on Redecard’s IPO 680
(128)
-
(20)
532
R$ Million
285
-
(572)
(47)
(142)
203
285
680
(699)
(47)
(162)
736
- 679 679
2Q073Q07 9M07
Result from non recurring events
Non Recurring Events(1)
(1) Net of taxes
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
Non Recurring Events
3Q07 | 5
Annualized ROAE Stockholders’ Equity (R$ Bln)
Net Income(1)
Operating Income(1)
PerformanceR$ Million
9.0
3Q05
11.6
3Q07
9.6
3Q06 9M06 9M079M05
9.6
11.6
(1) Before non recurring events
Performance
23.3%
24.8%
26.5(1)%
24.5(1)%
23.1%
21.3%
9.0
3Q07/3Q063Q07 9M07 9M07/9M06
3,006
1,885
1,024
667
12.4%
17.8%
14.5%
15.4%
3Q07 | 6
Destaques
Total loan portfolio growth:
8.2% QoQ (6.8% in the Brazilian Financial System)
29.0% YoY (24.8% in the Brazilian Financial System)
Payroll loans: 31.2% QoQ (152.4% YoY)
Auto Loans: 24.6% QoQ (70.6% YoY)
SMEs: 12.1% QoQ (37.1% YoY)
Loan Portfolio
13.8% reduction in provision for loans losses expenses, 9M07 vs 9M06
Better ratio of D to H portfolio over total loans (4.9% vs 6.7% in September 2006)
Better ratio of non-accrual portfolio over total loans (4.1% vs 5.4% in September 2006)
118% non-accrual loan portfolio coverage (past due and falling due credits)
Asset Quality Improvement
Stocks Unibanco ADTV(1) (Bovespa + NYSE): R$466 million in 3Q07 versus R$150 million in
3Q06, a 211% increase
Market Capitalization(2): R$37.7 billion
OperationalEfficiency
1.4% reduction in Personnel and Administrative Expenses in 3Q07 compared to 3Q06 Personnel and Administrative Expenses for companies under Unibanco’s direct
management: 1.0% variation compared to 3Q06 1.6% variation from 9M06
Better ratio of Cost to Assets (4.4% in 3Q07 versus 5.9% in 3Q06)
Highlights
(1) Average Daily Trading Volume
(2) As of November 6th, 2007
3Q07 | 7
9M079M06
Performance – 9M07 versus 9M06
100
LoanPortfolio
100
Personnel and Adm. Expenses
100 100
100
Provision for Loan Losses
100
Core Deposits
9M06 = 100
129
114 115
86
122
(1) Before non recurring events
OperatingIncome(1)
Net Income(1)
102
3Q07 | 8
Financial Indicators
Net Profit from Financial Intermediation(R$ Million)
Total Assets (R$ Billion) Loan Portfolio (R$ Billion)
Earnings per Share (R$)
1,902
2,100
0.21
0.24(1)
0.201,957
1,884 0.21
Dec-06
3Q06 4Q06 1Q07 2Q07
Mar-07 Jun-07Dec-06 Mar-07Sep-06 Sep-06Jun-07 Sep-07 Sep-07
3Q07
2,076 0.23(1)
(1) Before non recurring events
104
134
45102
56
43
115 47
130 52
3Q06 4Q06 1Q07 2Q07 3Q07
3Q07 | 9
5.8%
R$ Million
5.5% 5.9%
2Q073Q07 9M07
Treasury Gains / Gross profit from financial intermediation
Treasury Gains
9M063Q06
6.6% 4.4%
Financial margin from treasury (A) 172 136
2,621 2,481
2,076 1,902
154
2,660
2,100
452
7,689
6,060
316
7,231
5,342
Gross profit from financial intermediation (B) Net profit from financial intermediation (C)
7.3% 7.2% 7.5%Treasury Gains / Net profit from financial intermediation
8.3% 5.9%
(A/B)
(A/C)
3Q07 | 10
Wholesale
Retail
R$ Million
Loan Portfolio Growth
Brazilian Financial System
23.2% 29.0%8.2%
16.6% 24.8%6.8%
9M07 Quarter 12 months
29.0%
Jun-07 Sep-07
8.2%
Sep-06
51,644
59%
41%
55,902
61%
39%
43,323
56%
44%
3Q07 | 11
Credit: UBB x Brazilian Financial System
100
107 117
125
105
119
129
Jun-07 Sep-07Sep-06 Dec-06
Brazilian Financial System
Credit Evolution
Sep-06 = 100
3Q07 | 12
Individuals
Car Loans
Corporate
Total Portfolio
Loan Portfolio Growth
Credit Cards
Consumer Finance Companies
Sep-06Jun-07Sep-07
R$ Million
Mortgages
SMEs
Large Corporate
Portfolio highlights
Quarter %
12 months
8.2
24.6
29.0
70.6
5.7 20.6
12.1 42.820,883
30,761
51,644
5,412
2,762
31.25.0
14.49.7
1,586 11.62.8
9,729 37.112.1
21,032 13.72.7
5,759
Payroll36.29.71,400Own portfolio
319.144.32,285Acquired portfolio
Other branch network loans 1.6 23.95,499
31.2 152.43,685
16,383
26,940
43,323
4,330
2,649
1,460
7,955
18,985
4,205
1,128
787
4,507
1,915
23,402
32,500
55,902
5,680
3,030
1,630
10,909
21,591
7,175
1,536
3,298
5,586
4,834
3Q07 | 13
Sep-06 Sep-07
4,205
7,175
+70.6%
3Q06 = 100
Auto Financing
3Q07 3Q07
MarketMarket
Cars + Trucks & Buses Loans
Focus: New Cars (Financed Units) Focus: New Trucks & Buses (Financed Units)
R$ Million
3Q06 = 100
31%47%
69%53%
New vehicles
Used vehicles
352
143149
139
3Q07 | 14
Sep-06 Sep-07
Credit Cards
R$ MillionR$ Million
Billings (Unicard + Hipercard)Loan Portfolio (Unicard + Hipercard)
Number of cards (In Million)
3Q06 3Q07
+31.2%
4,330
5,680
+37.6%
4,635
6,380
Sep-04 Sep-05 Sep-06 Sep-07
Total Cards
Credit Cards (A+B)
Private Label Cards
Hipercard (B)
Visa + Mastercard (A)
13.4
9.6 16.4
19.4
13.9
24.3
5.5
9.79.8
7.93.8
9.1
2.6
5.5
8.1
8.7
29.123.217.2 33.0
3Q07 | 15
Financial Margin After Provision Financial Margin
Provision for Loan Losses / Financial Margin
-800 b.p.
14.25%
11.25%
Selic Rate
Financial Margin
20.8%
27.2%
3Q073Q06 1Q071Q06
21.8%
2Q07
29.1%
4Q05
23.3%
21.1%
3Q06 3Q07
9.0%10.6%
8.1%
7.1%
2Q07 2Q06
27.9%8.5%
6.7%
3Q07 | 16
Asset Quality
D to H Portfolio / Loan Portfolio
Coverage Non-Accrual Portfolio
Coverage D to H Portfolio
Sep-06 Jun-07 Sep-07
100%
Sep-06 Jun-07 Sep-07
115%
5.2%
Sep-06 Jun-07 Sep-07
6.7%
4.9%
99%
87%
118%
109%4.5%
Sep-06 Jun-07 Sep-07
5.4%
4.1%
Non-Accrual Portfolio / Loan Portfolio
3Q07 | 17
Total Funding (A)
Demand Deposits
Savings Deposits
Core Deposits CDs
Core Deposits
Time Deposits + Debentures
Assets Under Management (B)
Total Funding + AUM (A+B)
Total Deposits + Debentures
R$ Million
Sep-07 Jun-07 Sep-06
Funding and AUM
Other Funding
86,12389,259 70,111
4,626
8,045
5,149
17,820
28,984
133,650
46,804
47,527
4,160
8,832
4,982
17,974
48,665
29,757
137,924
47,731
4,470
5,558
4,648
14,676
29,130
112,586
43,806
42,475
39,31941,528 26,305
3Q07 | 18
R$ Million
AdministrativeExpenses
Personnel Expenses
Personnel and Administrative Expenses
Companies under Unibanco´s direct management
3Q06
2.7%
1.0%
9M079M06
1.6%
2,349
1,630
3,979
2,349
1,567
3,916
3Q072Q07
791
567
1,358
781
541
1,322
823
522
1,345
2,349
3Q07 | 19
Fees from Services Rendered
R$ Million
Total fees from services rendered
Banking fees and commissions
Credit Cards(1)
Assets under management
2Q073Q07 3Q06
Serasa(3)
Subtotal
Other fees
(1) Hipercard + Unicard
9M07 9M06
(2) In 3Q07, Unibanco changed its participation in Redecard from 31.9% to 23.2%
Redecard(2)
(3) In 3Q07, Serasa’s result was accounted by the equity income method
492
89
910
493
90
885
141 114
37 35
816 794
94 97
556
88
925
144
-
881
93
1,530
257
2,704
406
71
2,470
277
1,384
277
2,600
323
96
2,270
286
57 5644 163 234
3Q07 | 20
Efficiency
Revenues
R$ Million
Efficiency Ratio Expenses
3Q073Q04
2,988
1,414
3Q05
2,136
1,308
3Q06
2,575
1,323
2,913
1,434
61.2%
47.3%
51.4%49.2%6.5%
4.4%
6.3%5.9%
Cost to Assets
3Q07 | 21
1,084
650
118
(68)
35
88
843
526
109
(77)
23
74
3Q07 2Q07 3Q06
883
697
116
(70)
30
66
75 8264
Income Statement Summary
9,218
45.0%
7,856
48.3%
9,543
44.5%
94.6% 95.6%95.6%
R$ Million
Insurance and Pension Plans
9M07 9M06
2,621
1,487
295
(198)
82
263
3,109
1,971
340
(201)
101
223
250192
50.3%45.5%
94.5%94.9%
9,543 7,856
Net premiums written
Premiums earned
Industrial result
Personnel and administrative expenses
Operating income
Net Income
Financial & equity result
Technical Reserves
Loss Ratio
Combined Ratio
3Q07 | 22(*) As of November 6th, 2007
Sep-06 Dec-06 Mar-07 Sep-07Jun-07
UBB178
UBBR11 157
R$37.7 billion
Unibanco’s Market Cap(*)
Stocks
Units (UBBR11) and GDSs (UBB)
(1) Valid from December 2006 to November 2007.
Ibovespa 2.278
IBrX-50 3.482
ISE Sustainability Index(1) 5.884
UBBR11Sep to Dec 07 Sep to Dec 06
1.881
3.550
5.884
100
May to Aug 05(2)
0.984
2.955
N/A
Index Weighting (%)
(2) Inclusion in Ibovespa.
3Q07 | 23
R$ Million
Average Daily Trading Volume(Bovespa and NYSE)
Units and GDSs
2Q07
254
85
339
151
16
20011997
121
13
121
13
1999
Units (UBBR11)
GDSs (UBB)
2006
144
31
175
3Q07
362
466
104
2005
65
1984
2003
25
283
172
43
215
1Q07
42%
22%
37%
3Q07 | 24
Ratings
Moody's Investors Service upgraded, on August 23th, 2007,
the long-term foreign-currency subordinate perpetual bond
ratings of Unibanco Grand Cayman to Investment Grade
3Q07 | 25
Sustainability
Carbon Credits
Unibanco is one of the best companies to work for in
Brazil, according to “Exame” and “Você S/A” magazines
Human Resources
Unibanco signed with Japan Bank for International Cooperation (JBIC) the first
financing agreement between Brazil and Japan for CDM (Clean Development
Mechanism) projects, which are focused on the carbon credit market
In September 2007, Bandeirantes Thermoelectric Plant
concluded the world’s first auction of carbon credits. The
power plant is the largest of its kind in the world, and arose
out of an Unibanco Project Finance operation
3Q07 | 26
Subsequent Event
Number of shares sold by Unibanco 23,314,228
R$23.00Price per share
Bovespa’s IPO
R$536 millionTotal value of the sale
3Q07 | 27
Unibanco APIMEC Meetings 2007
Porto Alegre
Hotel Sheraton
November 22nd, 6pm
São Paulo
Buffet Rosa Rosarum
December 3rd, 3:30pm
Unibanco Day
New York
NYSE – New York Stock Exchange
December 11th
Save the Date
3Q07 | 28
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