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RESULTS 2006.

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Apresentação em tema: "RESULTS 2006."— Transcrição da apresentação:

1 RESULTS 2006

2 2005 Overview 193 stores at the end of 2005
174 traditional – sales area above 1,000 m2 19 express – sales area between 400 and 600 m2 Total area of thousand m2 Present in most Brazilian states, with strong presence in the major Brazilian urban centers. Largest portal in sales volume and shopping destination in Latin America Best e-commerce website by the fifth consecutive year, according to Ibest Award popular jury Shoptime acquisition, adding a new clients base and two new sales chanels - TV and catalog Financing company created through a joint-venture with Banco Itaú, aimed at financing purchases, offering personal credit and credit cards to Lojas Americanas’ customers. Completed the refurbishment of all Facilita’s points of sale in 2H05, two years ahead of schedule, Total of 210 points of sale, including 17 own stores

3 Operating Highlights - 2005
Profitability Consolidated EBITDA (R$330.9 million) grew 20.5% over 2004 Stable EBITDA margin (12.0%) vs (12.1%) Net Income (R$176.1 million) % higher vs. 2004 Greater Operating Efficiency Operating expenses margin, as a % of NR, fell 0.5 percentage points compared to 2004 Gross revenues per associate went up 11.3% over 2004 Expansion / Investments 37 store openings in 2005 – 25 Traditional and 12 Express Scheduled openings: +19 stores and 30 stores under evaluation and negotiation Shoptime and Americanas Taií

4 Sales Area x Number of Stores
2005 Gross Revenue Same stores sales growth: % (4Q05 = 8.8%) New stores opened: + 37 stores (4Q05 – 21 stores) Americanas.com/Shoptime Growth: % (4Q05 = 106.6%) Total Gross Revenue Growth: % Sales Area x Number of Stores 330.1 Sales Area 2005 x 2004:+12.4% CAGR: + 8.8% 293.7 193 Stores 259.1 243.0 156 Stores Stores 235.9 121 Stores Sales Area (thousand m2) 98 Stores 105 Stores 2001 2002 2003 2004 2005

5 Operating Expenses (excluding depreciation and amortization)
0.5 percentage points reduction in 2005, even with the 37 store openings and Americanas.com/Shoptime sales growth Operating Expenses (excluding depreciation and amortization) (% of NR) - 0.5 p.p. 22.4% 20.8% 19.0% 18.9% 18.4% 2001 2002 2003 2004 2005

6 Adjusted EBITDA Excluding Facilita (R$ million)
EBITDA Evolution Nominal EBITDA Growth – 20.5% in 2005 Stable EBITDA margin – 12.0% in 2005 Adjusted EBITDA in 2005 :+25.5% / Adjusted EBITDA Margin:+ 0.3 p.p. EBITDA (R$ million) Adjusted EBITDA Excluding Facilita (R$ million) 322.9 257.3 11.8% 11.5% 2004 2005 + 25.5% 274.7 90.1 330.9 217.6 142.8 6.2% 9.1% 12.1% 12.0% 11.2% 2001 2002 2003 2004 2005 CAGR:+ 38.4%

7 “We Always Want More” Changes in Net Income Quarterly Net Income
(R$ Million) Annual Net Income (R$ Million) Impacts: acquisition, expansion (depreceation) and non-operating results. Highest net income along the last years. 176.1 + 5.7% 48.2 % 45.5 64.1 2004 2005 4Q04 4Q05 “We Always Want More”

8 Net Cash* and Capex Net Cash (R$ million) 70.6% Net cash expansion, despite of aggressive organic growth: 37 new stores (R$77.4 million) Acquisition of Shoptime in August, 2005 (R$117.0 million) Capitalization of Financeira Americanas Itaú – FAI (R$40.0 million) R$ MM R$ 170.8MM 1,407.4 1,236.6 974.9 874.8 2004 2005 Gross Debt Cash * Considering Credit Cards Receivables

9 Share Performance 76.1% (LAME4) and 70.7% (LAME3) valorization vs. 27,7% of Ibovespa’s Higher liquidity – LAME4 average daily trading volume: R$6.6 million Inclusion in MSCI (2005) and in IBRX-50 (January, 2006) LAME4 X IBOVESPA 20.0 30.0 40.0 50.0 60.0 70.0 3-jan 17-jan 1-feb 17-feb 3-mar 17-mar 1-apr 15-apr 2-may 16-may 31-may 14-jun 28-jun 12-jul 26-jul 9-aug 23-aug 6-sep 21-sep 5-oct 20-oct 4-nov 21-nov 5-dec 19-dec Price 5 10 15 20 25 30 35 40 Volume (R$ million) LAME4 Volume LAME4 IBOVESPA

10 This presentation contains forward-looking statements
This presentation contains forward-looking statements. Such statements are not statements of historical fact, and reflect the beliefs and expectations of the Lojas Americanas’ management. The words "anticipates", “wishes”, “expects”, "estimates", “intends", "forecasts", "plans", "predicts", "projects", "targets" and similar words are intended to identify these statements, which necessarily involve known and unknown risks and uncertainties. Known risks and uncertainties include, but are not limited to, the impact of competitive products and pricing, market acceptance of products, regulatory environment, currency fluctuations, supply difficulties, changes in product sales mix, and other risks. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments.


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