3q10 earnings releaseri.pontosmultiplus.com.br/arquivos/101109-divulgacao_de...3q10 earnings release...
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3Q10 Earnings Release
November 9, 2010
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Disclaimer
●
This notice may contain estimates for future events. These estimates merely reflect the expectations of the Company’s management, and involve risks and uncertainties. The Company is not responsible for investment operations or decisions taken based on information contained in this communication. These estimates are subject to changes without prior notice.
●
This material has been prepared by Multiplus S.A. (“Multiplus“
or the “Company”) includes certain forward-looking statements that are based principally on Multiplus’
current expectations and on projections of future events and financial trends that currently
affect or might affect Multiplus’
business, and are not guarantees of future performance. They are
based on management’s expectations that involve a number of business risks and uncertainties, any of each could cause actual financial condition and results of operations to differ materially from those set out in Multiplus’
forward-looking statements. Multiplus undertakes no obligation to publicly update or revise any forward looking statements.
●
This material is published solely for informational purposes and
is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise it does not give and should not be treated as giving investment advice. It has no regard to the specific investment objectives, financial situation or particular needs of any recipient. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment.
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3Q10 Highlights
OPERATING HIGHLIGHTS 3Q10 vs
2Q10
•
7.6 mln
members, an increase of 6.0% (20.8% versus 3Q09)
•
14.4 bln
points issued, a growth of 17.9%
•
4.6 bln
points redeemed, an increase of 44.2%
•
Breakage ratio (24 months average) of 26.9%,
compared to 28.7%
FINANCIAL HIGHLIGHTS 3Q10 vs
2Q10
•
Gross Billings of points of R$ 300.0 mln, an increase of 13.6%
•
Net Revenue of R$ 130.0 mln, representing a growth of 39.1%
•
Adjusted EBITDA of R$ 101.2 mln, a growth of 12.2% (33.7% margin)
•
Net Income of R$ 44.5 mln, an increase of 92.4% (34.2% margin)
7.2
7.6
2Q10 3Q10
125133
7 7
2Q10 3Q10
Accrual Coalition
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Operating Performance (1/2)
million
+6.0%
MEMBERS PARTNERSHIPS
Quantity
67.8%63.1%
2Q10 3Q10
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Operating Performance (2/2)
BREAKAGE RATIO (24 MONTHS AVERAGE)
%
-180 bps
BURN/EARN RATIO (PRO FORMA)*
%
-470 bps
28.7%26.9%
2Q10 3Q10*considering 100% of the redeemed points
12.2
14.4
2Q10 3Q10
264.0300.0
2Q10 3Q10
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Points Issued and Gross Billings
In billions R$ million
+13.6%
POINTS ISSUED GROSS BILLINGS OF POINTS
+17.9%
11.113.5
2Q10 3Q10
51.269.0
2Q10 3Q10
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OPERATING EXPENSES (SG&A)Adjusted EBITDA
Financial Performance
NET REVENUE
R$ million
R$ million R$ million
COSTS OF SERVICES RENDERED (COGS)
+41.8%
+39.1%
+22.0%
POINTS REDEEMED
In billions
3.24.6
2Q10 3Q10
+44.2%
93.5
130.0
2Q10 3Q10
90,2
101,2
2Q10 3Q10
23,1
44,5
2Q10 3Q10
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Net Income and Adjusted EBITDA
R$ milhões R$ milhões
24.7% 34.2%Margin
+92.4%
NET INCOME ADJUSTED EBITDA
34.2% 33.7%
+12.2%
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Coalition
Network
SOONSOON
SOON
NEW
NEW
