presentaci n inversionistas 3q12...

126/10/2012 10:33skiron\Roadshow\Presentación

Roadshow Script 2.ppt1

2

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 may vary from the results expressed in, or implied by,

the forward-looking statements made to you, possibly to a material degree.

3

4 Highlights 3Q12

4 Operating and Financial Results 3Q12

4Famsa Mexico

4Banco Ahorro Famsa

4Famsa USA

4 Consolidated Financial Results 3Q12

Agenda

4

4 3Q12 Consolidated Operating Cash Flow (EBITDA) grew 24.6% year-over-

year, to Ps$572 million

4 The EBITDA expansion was driven by the profitability of operations in Mexico

and a stringent control of operating expenses

4 Famsa México’s EBITDA totaled Ps$538 million for the third quarter, reaching

an EBITDA Margin of 18.1%

4 Furniture, Seasonal Products and Motorcycles were the categories posting

the most robust sales during the quarter

4 Banco Ahorro Famsa’s capitalization index remains within a stable range

(>13%)

4 The sustained growth in BAF’s deposit base to Ps$11,521 million underscores

the stability of the bank’s operations

4 Total Sales in the Texas region denominated in dollars increased 5.9% in

September, growing for the first time this year

4 In the West, 16 stores were closed in September and diverse initiatives were

implemented to facilitate the collection of accounts receivable

USA

MX

Highlights – 3Q12

5

Agenda

4 Highlights 3Q12


4Famsa Mexico

4Banco Ahorro Famsa

4Famsa USA


Famsa Mexico´s EBITDA quarterly growth of 21% was drove by

the increased productivity of its store network

$8,632$8,448

$2,972$2,866

3Q11 3Q12 Jan-Sept 11 Jan-Sept 12

6

Peso

s (

Millio

ns)

Famsa Mexico: Net Sales Famsa Mexico: EBITDA

Total: +2.2%

SSS: +2.1%

Total: +3.7%

SSS: +3.3%

Peso

s (

Millio

ns)

$1,537

$1,274

$538

$445


+20.7%

+21.0%

25.8% 25.7%

11.8% 13.4%

12.1% 11.2%

11.6% 10.6%

8.6% 8.2%

5.9% 5.8%

3.5% 5.3%

20.7% 19.9%

Jan-Sept 11 Jan-Sept 12

7

As of the close of 3Q12 Furniture and Seasonal Products posted

greater increases in sales; 13.9% and 6.1% respectively

Famsa Mexico: % of Sales by Product Category Famsa Mexico: Sales Growth by Product Category (Accumulated as of Sept. 2012)

100%100%

% o

f S

ale

s

Others

Mobile Phones

Personal Loans

Furniture

Electronics

Appliances

Computers

Motorcycles

-10%

-5%

0%

5%

10%

15%

Ap

pli

an

ces

Ele

ctr

on

ics

Mo

bil

e

Ph

on

es

Co

mp

ute

rs

Pers

on

al

Lo

an

s

Seaso

nal

Pro

du

cts

Fu

rnit

ure

Mo

torc

ycle

s

8* Preliminary figures

Source: CNBV, Banco Ahorro Famsa

0%

3%

6%

9%

12%

15%

Se

p-1

1

Oc

t-1

1

No

v-1

1

De

c-1

1

Ja

n-1

2

Fe

b-1

2

Ma

r-1

2

Ap

r-1

2

Ma

y-1

2

Ju

n-1

2

Ju

l-1

2

Ag

o-1

2

Se

p-1

2*

0%

3%

6%

9%

12%

15%

Sep

-11

Oct-

11

No

v-1

1

Dec-1

1

Jan

-12

Feb

-12

Mar-

12

Ap

r-12

May-1

2

Ju

n-1

2

Ju

l-12

Ag

o-1

2

Sep

-12*

BAF: Non-Performing Loans Ratio (IMOR)BAF: Capitalization Index (ICAP)

Banco Ahorro Famsa’s capitalization index continues in a

stable range (>13%), reflecting its ongoing strength

9

+18.8%

775 972 1,000 1,0921,045

2,3402,068

1,390 1,341 1,316

9,1139,012

8,639

7,3976,583

3Q11 4Q11 1Q12 2Q12 3Q12

$11,521

4.5%

5.6%

6.7%

7.8%

8.8%

4Q

09

1Q

10

2Q

10

3Q

10

4Q

10

1Q

11

2Q

11

3Q

11

4Q

11

1Q

12

2Q

12

3Q

12

Rate

(%)

8.0%

5.2%

$9,698

Peso

s (

Millio

ns)

BAF: Deposits BAF: Average Cost of Funding

Demand Deposits Time Deposits with optional availability Time Deposits

Source: Banco Ahorro FamsaSource: Grupo Famsa, Banco Ahorro Famsa

The sustained growth of its deposit base shows the stability of

BAF’s operations; bank deposits totaled Ps$11,521 million

10

3Q11 4Q11 1Q12 2Q12 3Q12

Grupo Famsa: Commercial Loans Mexico

PYME,Micro

&Corp.

+56.1%

Peso

s (

Millio

ns)

Financial Institutions & Other PYME, Microcredit & Corporate

BAF continues to develop initiatives to support micro, small

and medium-sized companies

$1,841

$1,527

$2,088$2,185

$2,383

$1,240$1,271

$420$420


$84

$43

$26

-$1


1111

Peso

s (

Millio

ns)

Famsa USA: Net Sales

The rate of recovery of Texas operations accelerated during 3Q12,

posting sales growth for the first time in September 2012

Famsa USA: EBITDA

Total: -0.1% (MXN)Total: -4.4% (USD)SSS: -4.6% (USD)

Total: -2.4% (MXN)Total: -11.0% (USD)SSS: -11.2% (USD)

+94.9% (MXN)+77.9% (USD)

Peso

s (

Millio

ns)

12

In the West, 16 stores were closed and diverse initiatives were

implemented to maximize the collection of accounts receivable

West Region: Store Closures West Region: Collection of Accounts Receivable

1Q12 2Q12 3Q12 4Q12 Total

Stores 1 16 7 24

DistributionCenters / Warehouses

2 2 4

4 Maximize the collection through:

4 Payment centers: 10 kiosks were installed

near certain closed stores for the

customer's convenience

4 Alliances: alliances were celebrated with

MoneyGram and CheckFreePay providing

additional locations for payment process

4 Call center: payment over-the-phone either

with debt or credit card

4 Famsa USA´s Website

13

Estimated Plan for Store Openings and Closures (4Q12e)

3Q12 Openings Closures 4Q12e

Stores 382 5 7 380

Famsa Mexico 350 5 0 355

Famsa USA -Texas 25 0 0 25

Famsa USA -West 7 0 7 0

Banco Ahorro Famsa 289 16 0 305

During 4Q12, the growth of our operations in Mexico will

be enhanced with the opening of 16 new locations

14

Agenda

4 Highlights 3Q12


4Famsa Mexico

4Banco Ahorro Famsa

4Famsa USA


1515


87% 87%

13% 13%


Famsa USA

Famsa Mexico

$9,899

+1.0%

Net Sales

3Q12 Jan-Sept 12

Total 1.3% -0.5%

Famsa Mexico 3.3% 2.1%

Famsa USA* -4.6% -11.2%

MX

USA$3,311

$9,805

+3.0%

Share of Consolidated Net Sales by CountrySame Store Sales (%)

Consolidated Net Sales Consolidated Product Mix

Peso

s (

Millio

ns)

% o

f S

ale

s%

of

Sale

s

Others

ComputerMobile Phones

Electronics

Appliances

Personal Loans

Furniture$3,409

23% 23%

16% 18%

13% 12%11% 11%8% 7%6% 6%

24%23%


* Calculated in US dollars, excluding FX

$522

$50

-$72

$87



16



EBITDA

+6.8%

Peso

s (

Millio

ns)

49.8% 52.1% 49.3% 52.1%

+7.8%

-7.3%

13.3% 8.7% 9.8% 9.0%

-32.2%

+949.4%

(2.2)%

0.5%

+220.7%

2.6% 5.3%

+24.6%

MX

USA $459$572

$1,359

$1,631+20.0%

13.9% 16.8% 13.9% 16.5%

Profitability

$1,648 $1,776

$4,835$5,162

MX

USA

Gross Income

Net IncomeComprehensive Financing Expense

$439$298

$964 $894Interest Expense, net FX

$1,908$1,973

2011 2012

$8,721$8,206

2011 2012

$4,784$4,519

$9,698$11,521

2011 2012

1717

Main Balance Sheet Accounts

$1,538

$1,454

$12,560 $14,197

$1,527

$2,383

2011 2012

-3.3%

+6.3%+10.8%

$15,625

$18,034

$14,482$16,040

+15.4%

Trade Accounts Receivable Inventories

Net Debt and Bank Deposits Stockholder’s Equity

Bank Deposits

Net Debt

Commercial (BAF)Consumer USA

Consumer Mexico

Peso

s (

Millio

ns)

presentaci n inversionistas 3q12...

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