3Q16 Earnings Presentation - investor cloud
3Q16 Earnings Presentation
Agenda
2
Recent Developments………..……………..………….3
1
Consolidated Results………..……….....……6 & 15
2
3Q16 5
6
3
Famsa Mexico……..……………………….……. 8
4
Famsa USA..…….………………...................... 10
Banco Famsa.…………………….….……………...12
Financial Position Items..………...….........................17
Recent Developments
Recent Developments
4
Grupo Famsa Mr. Roberto Gutierrez Garcia Independent Director and Chairman of the Audit Committee Mr. Jorge Luis Ramos Santos Chairman of the Corporate Practices Committeee
Banco Famsa Mr. Jose Luis Ochoa Bautista Chairman of the Board Mr. Roberto Gutierrez Garcia Independent Director and Chairman of the Audit Committee
KPMG - External Auditor
Employees
5
-3.5% -8.7% 1,684 job positions
-3.9%
19,117
19,420 18,462
18,372
17,736
3Q15
4Q15
1Q16
2Q16
3Q16
Consolidated Results
Consolidated Results
7
Net Sales grew by 6.7% YoY in 3Q16. Net Sales by country
Net Sales by product mix
+8.8%
(Millions of MXP)
13.5%
13.1%
4,254
13.4%
12.9%
86.6%
87.1%
3Q15
86.5%
86.9%
YTD 15
3Q16
Famsa MX
YTD 16
Same Store Sales (SSS)
3,987 20.1% 7.0% 10.0% 12.8% 10.3% 15.5% 20.4%
24.7%
3Q15
3Q16
5.8% 10.4% 12.4% 9.5% 14.6% 19.4%
919 100
2Q16
1Q16
4Q15
3Q15
2Q15
1Q15
-1.1% 4Q14
3Q14
-1.1%
4.0% 3Q16
5.1%
16.0%
15.5%
20.2%
18.8%
YTD 15
885 53
402
398
16 26 375
28 380
3Q15
3Q16
26
*m2 in thousands.
Computers Motorcycles Mobile Phones Appliances Electronics Furniture
YTD 16
Retail-area +0.5%
6.3% 7.1%
10.0% 13.2% 10.6%
10.2% 12.6% 10.8%
Others
Personal Loans
Business-units 10.0% 10.7%
5.6%
6.0%
4,254
-3.7% 8.8%
23.5% 3.0%
20.3% 3.7% Famsa USA
3,987
12,647
11,622
12,647
11,622
+6.7%
(Millions of MXP)
700 600 500 400 300 200 100 0
564
To be converted branches
567
7 41 2 66
4 40 4 66
447
453
3Q15-m2*
3Q16-m2*
Banking branches Branches Stores USA Stores MX
Famsa Mexico
Famsa Mexico
9
Contribution of Electronics, Mobile Phones, and Appliances stood out in 3Q16, highlighting the incorporation of Apple products in commercial offer. Sales growth by product category (3Q16)
8.4% 10,019
3Q15
3Q16
YTD 15
YTD 16
Same Store Sales (SSS) 11.5% 10.0%
10.0% 7.5%
6.9% 6.8% 8.0%
-1.5%
Famsa MX ANTAD
3Q16
2Q16
1Q16
4Q15
3Q15
2Q15
1Q15
4Q14
3Q14
-1.4%
Mobile Phones
19.7%
-12%
Electronics
22.0%
12.7%
-7%
Appliances
26.9% 6.7% 9.1% 12.0% 9.4% 12.5% 20.1%
-2%
Seasonal Goods
21.7% 8.0% 10.1% 11.6% 9.7% 12.9% 22.2%
3%
Personal Loans
6.5% 9.8% 11.8% 10.8%
Others Computers Motorcycles Furniture Mobile Phones Electronics Appliances Personal Loans
Furniture
25.6%
6.9% 10.7% 11.5% 9.9% 13.3%
3,680
3,428
8%
22.0%
7.3%
13%
10,862
Computers
(Millions of MXP)
Motorcycles
Sales by product mix
Famsa USA
Famsa USA
11
Net sales in MXP increased by 2.7% YoY in 3Q16, despite a weak consumption environment. MXP: +11.7% USD: -8.6%
Net Sales (Millions of MXP)
Sales by product mix
1,702
(Millions of MXP)
1,523
1,702 1,523
3.4%
4.5% 8.2%
MXP: +2.7% USD: +14.9
14.8% 533
548
533
3Q15
3Q16
3.9% 9.2%
YTD 15
YTD 16
Personal Loans sales growth by quarter
548 3.9% 14.6%
14.3% 12.4%
10.1% 11.5%
50.4%
51.4%
3Q15
3Q16
12.8%
3Q16
2Q16
Famsa to Famsa Personal Loans
YTD 16
F to F
1Q16
11.9%
YTD 15
20%
4Q15
Others
51.1%
30%
3Q15
Computers
10.9%
51.0%
40%
0%
13.0%
Electronics
50%
10%
5.8%
4.9%
Appliances Furniture
Banco Famsa
Banco Famsa
13
The Non-Performing loans ratio (NPL) closed at 8.8%, 30 bps. below the 2Q16 due to the enhancement of our credit base. Portfolio of Loans Mix
Portfolio of Loans*
17.8%
(Millions of MXP)
3Q15
3Q16
19,321 16,405
17,215
17,822
17,938 Commercial 22%
Commercial 23%
Consumer 78%
Consumer 77%
3Q15
4Q15
1Q16
2Q16
3Q16
Non-performing Loans Ratio (NPL)**
*Gross Balance **Includes credits discounted by payroll Source: Banco Famsa
8.7%
9.1%
8.8%
Jun'16
Sep'16
9.8%
Mar´16
10.4%
Dec'15
11.9%
Jun'15
13.3%
Mar'15
Dec'14
Sep'14
14.2%
Sep'15
16.2%
Banco Famsa
14
Bank deposits as of September 30, 2016 were 28.3% above 3Q15 with 90.0% of term deposits, amounting to Ps. 21,166 million. Bank Deposits
(Millions of MXP)
Famsa card, credit cards, microcredits, SMEs, Fovisste, enterprises, Credinero and Prendinero
21,166
19,742
18,359
18,611
4.2%
4.1%
4.2%
4.2%
4.3%
3Q15
4Q15
1Q16
2Q16
3Q16
16,500
Loans
+28.3%
Deposits Savings, payroll, checks and investments
Bank Deposits Mix Services e-Banking, ATMs, payroll, TPVs, remittances, money orders and insurance
3Q15
3Q16
Demand deposits 11% Opnl Availability 21% Time Deposits 68%
Demand deposits 10% Opnl Availability 17% Time Deposits 73%
Consolidated Results
Consolidated Results
16
-6.7%
Gross Profit
EBITDA
+5.9%
(Millions of MXP) 47.5%
+3.9%
(Millions of MXP) 46.2%
5,522
5,849
734
865
11.3%
9.7%
1,316
1,227
101
-10.3%
128 USA
46.2%
USA
10.9%
9.1%
1,891
1,965
MX
434
389
261 1,630
280 1,685
4,788
4,984
32 402
35 354
1,215
1,099
3Q15
3Q16
YTD 15
YTD 16
3Q15
3Q16
YTD 15
YTD 16
47.4%
Financial expenses, net
-22.2%
(Millions of MXP)
Net Income
MX
+76.3%
(Millions of MXP)
8.1%
942
-38.3%
445 5.8%
733 10.6%
422
400 200
6.1%
2.9% 1.0%
253
125
0 3Q15
3Q16
2.2%
+225.5%
38
260
3Q15
3.5%
YTD 15
YTD 16
3Q16
YTD 15
YTD 16
Finacial Position Items
Financial Position Items
18
Net debt & bank deposits
Trade receivables (Millions of MXP)
+14.1%
22,606 2,624 4,009
(Millions of MXP)
25,800 2,884 3,913
+15.0% 29,043
25,265 Consumer USA
7,877
6,906
Net debt
Commercial MX
19,003
15,973
Bank deposits
Consumer MX
21,166
18,359
11.6%
4Q15
4Q15
3Q16
Stockholders’ equity
Inventories (Millions of MXP)
2,453 270
3Q16
(Millions of MXP)
+11.4%
+8.0%
2,732 332 Famsa USA -4.7%
2,183
2,400
Famsa MX
8,789
5.7% 11.6%
4Q15
8,141
3Q16
2.8%
1.2%
4Q15
3Q16
2.8%
Financial Position Items: Debt Structure
19
Funding Sources
Debt Profile
(Millions of MXP)
(Millions of MXP)
+10.2% 8,767
9,663
20%
20%
22%
26%
58%
54%
3T15
3T16
Foreign Debt
Credit Lines
67%
69%
4Q15
3Q16
Bank Deposits
5,458
Debt Maturity Profile (Millions of MXP)
352 1,504 471 2016 Debt Certificates ** Includes local notes and foreign senior notes.
30,828 9% 22%
27,460 8% 25%
Debt Certificates
2,327
+12.3%
1,879 383 1,496 2017 Credit Lines
4,868
590 > 2018 Foreign Debt
Debt Certificates**
Credit Lines
20
Note on 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, S.A.B. de C.V. and its subsidiaries may differ from the results expressed in, or implied by, the forward-looking statements set out herein, possibly to a material degree.
21
Contact We have a strong commitment to keeping you updated. Please do not hesitate to contact us.
Investor Relations Paloma Arellano [email protected]
+52 (81) 8389 3405
Agenda
2
Recent Developments………..……………..………….3
1
Consolidated Results………..……….....……6 & 15
2
3Q16 5
6
3
Famsa Mexico……..……………………….……. 8
4
Famsa USA..…….………………...................... 10
Banco Famsa.…………………….….……………...12
Financial Position Items..………...….........................17
Recent Developments
Recent Developments
4
Grupo Famsa Mr. Roberto Gutierrez Garcia Independent Director and Chairman of the Audit Committee Mr. Jorge Luis Ramos Santos Chairman of the Corporate Practices Committeee
Banco Famsa Mr. Jose Luis Ochoa Bautista Chairman of the Board Mr. Roberto Gutierrez Garcia Independent Director and Chairman of the Audit Committee
KPMG - External Auditor
Employees
5
-3.5% -8.7% 1,684 job positions
-3.9%
19,117
19,420 18,462
18,372
17,736
3Q15
4Q15
1Q16
2Q16
3Q16
Consolidated Results
Consolidated Results
7
Net Sales grew by 6.7% YoY in 3Q16. Net Sales by country
Net Sales by product mix
+8.8%
(Millions of MXP)
13.5%
13.1%
4,254
13.4%
12.9%
86.6%
87.1%
3Q15
86.5%
86.9%
YTD 15
3Q16
Famsa MX
YTD 16
Same Store Sales (SSS)
3,987 20.1% 7.0% 10.0% 12.8% 10.3% 15.5% 20.4%
24.7%
3Q15
3Q16
5.8% 10.4% 12.4% 9.5% 14.6% 19.4%
919 100
2Q16
1Q16
4Q15
3Q15
2Q15
1Q15
-1.1% 4Q14
3Q14
-1.1%
4.0% 3Q16
5.1%
16.0%
15.5%
20.2%
18.8%
YTD 15
885 53
402
398
16 26 375
28 380
3Q15
3Q16
26
*m2 in thousands.
Computers Motorcycles Mobile Phones Appliances Electronics Furniture
YTD 16
Retail-area +0.5%
6.3% 7.1%
10.0% 13.2% 10.6%
10.2% 12.6% 10.8%
Others
Personal Loans
Business-units 10.0% 10.7%
5.6%
6.0%
4,254
-3.7% 8.8%
23.5% 3.0%
20.3% 3.7% Famsa USA
3,987
12,647
11,622
12,647
11,622
+6.7%
(Millions of MXP)
700 600 500 400 300 200 100 0
564
To be converted branches
567
7 41 2 66
4 40 4 66
447
453
3Q15-m2*
3Q16-m2*
Banking branches Branches Stores USA Stores MX
Famsa Mexico
Famsa Mexico
9
Contribution of Electronics, Mobile Phones, and Appliances stood out in 3Q16, highlighting the incorporation of Apple products in commercial offer. Sales growth by product category (3Q16)
8.4% 10,019
3Q15
3Q16
YTD 15
YTD 16
Same Store Sales (SSS) 11.5% 10.0%
10.0% 7.5%
6.9% 6.8% 8.0%
-1.5%
Famsa MX ANTAD
3Q16
2Q16
1Q16
4Q15
3Q15
2Q15
1Q15
4Q14
3Q14
-1.4%
Mobile Phones
19.7%
-12%
Electronics
22.0%
12.7%
-7%
Appliances
26.9% 6.7% 9.1% 12.0% 9.4% 12.5% 20.1%
-2%
Seasonal Goods
21.7% 8.0% 10.1% 11.6% 9.7% 12.9% 22.2%
3%
Personal Loans
6.5% 9.8% 11.8% 10.8%
Others Computers Motorcycles Furniture Mobile Phones Electronics Appliances Personal Loans
Furniture
25.6%
6.9% 10.7% 11.5% 9.9% 13.3%
3,680
3,428
8%
22.0%
7.3%
13%
10,862
Computers
(Millions of MXP)
Motorcycles
Sales by product mix
Famsa USA
Famsa USA
11
Net sales in MXP increased by 2.7% YoY in 3Q16, despite a weak consumption environment. MXP: +11.7% USD: -8.6%
Net Sales (Millions of MXP)
Sales by product mix
1,702
(Millions of MXP)
1,523
1,702 1,523
3.4%
4.5% 8.2%
MXP: +2.7% USD: +14.9
14.8% 533
548
533
3Q15
3Q16
3.9% 9.2%
YTD 15
YTD 16
Personal Loans sales growth by quarter
548 3.9% 14.6%
14.3% 12.4%
10.1% 11.5%
50.4%
51.4%
3Q15
3Q16
12.8%
3Q16
2Q16
Famsa to Famsa Personal Loans
YTD 16
F to F
1Q16
11.9%
YTD 15
20%
4Q15
Others
51.1%
30%
3Q15
Computers
10.9%
51.0%
40%
0%
13.0%
Electronics
50%
10%
5.8%
4.9%
Appliances Furniture
Banco Famsa
Banco Famsa
13
The Non-Performing loans ratio (NPL) closed at 8.8%, 30 bps. below the 2Q16 due to the enhancement of our credit base. Portfolio of Loans Mix
Portfolio of Loans*
17.8%
(Millions of MXP)
3Q15
3Q16
19,321 16,405
17,215
17,822
17,938 Commercial 22%
Commercial 23%
Consumer 78%
Consumer 77%
3Q15
4Q15
1Q16
2Q16
3Q16
Non-performing Loans Ratio (NPL)**
*Gross Balance **Includes credits discounted by payroll Source: Banco Famsa
8.7%
9.1%
8.8%
Jun'16
Sep'16
9.8%
Mar´16
10.4%
Dec'15
11.9%
Jun'15
13.3%
Mar'15
Dec'14
Sep'14
14.2%
Sep'15
16.2%
Banco Famsa
14
Bank deposits as of September 30, 2016 were 28.3% above 3Q15 with 90.0% of term deposits, amounting to Ps. 21,166 million. Bank Deposits
(Millions of MXP)
Famsa card, credit cards, microcredits, SMEs, Fovisste, enterprises, Credinero and Prendinero
21,166
19,742
18,359
18,611
4.2%
4.1%
4.2%
4.2%
4.3%
3Q15
4Q15
1Q16
2Q16
3Q16
16,500
Loans
+28.3%
Deposits Savings, payroll, checks and investments
Bank Deposits Mix Services e-Banking, ATMs, payroll, TPVs, remittances, money orders and insurance
3Q15
3Q16
Demand deposits 11% Opnl Availability 21% Time Deposits 68%
Demand deposits 10% Opnl Availability 17% Time Deposits 73%
Consolidated Results
Consolidated Results
16
-6.7%
Gross Profit
EBITDA
+5.9%
(Millions of MXP) 47.5%
+3.9%
(Millions of MXP) 46.2%
5,522
5,849
734
865
11.3%
9.7%
1,316
1,227
101
-10.3%
128 USA
46.2%
USA
10.9%
9.1%
1,891
1,965
MX
434
389
261 1,630
280 1,685
4,788
4,984
32 402
35 354
1,215
1,099
3Q15
3Q16
YTD 15
YTD 16
3Q15
3Q16
YTD 15
YTD 16
47.4%
Financial expenses, net
-22.2%
(Millions of MXP)
Net Income
MX
+76.3%
(Millions of MXP)
8.1%
942
-38.3%
445 5.8%
733 10.6%
422
400 200
6.1%
2.9% 1.0%
253
125
0 3Q15
3Q16
2.2%
+225.5%
38
260
3Q15
3.5%
YTD 15
YTD 16
3Q16
YTD 15
YTD 16
Finacial Position Items
Financial Position Items
18
Net debt & bank deposits
Trade receivables (Millions of MXP)
+14.1%
22,606 2,624 4,009
(Millions of MXP)
25,800 2,884 3,913
+15.0% 29,043
25,265 Consumer USA
7,877
6,906
Net debt
Commercial MX
19,003
15,973
Bank deposits
Consumer MX
21,166
18,359
11.6%
4Q15
4Q15
3Q16
Stockholders’ equity
Inventories (Millions of MXP)
2,453 270
3Q16
(Millions of MXP)
+11.4%
+8.0%
2,732 332 Famsa USA -4.7%
2,183
2,400
Famsa MX
8,789
5.7% 11.6%
4Q15
8,141
3Q16
2.8%
1.2%
4Q15
3Q16
2.8%
Financial Position Items: Debt Structure
19
Funding Sources
Debt Profile
(Millions of MXP)
(Millions of MXP)
+10.2% 8,767
9,663
20%
20%
22%
26%
58%
54%
3T15
3T16
Foreign Debt
Credit Lines
67%
69%
4Q15
3Q16
Bank Deposits
5,458
Debt Maturity Profile (Millions of MXP)
352 1,504 471 2016 Debt Certificates ** Includes local notes and foreign senior notes.
30,828 9% 22%
27,460 8% 25%
Debt Certificates
2,327
+12.3%
1,879 383 1,496 2017 Credit Lines
4,868
590 > 2018 Foreign Debt
Debt Certificates**
Credit Lines
20
Note on 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, S.A.B. de C.V. and its subsidiaries may differ from the results expressed in, or implied by, the forward-looking statements set out herein, possibly to a material degree.
21
Contact We have a strong commitment to keeping you updated. Please do not hesitate to contact us.
Investor Relations Paloma Arellano [email protected]
+52 (81) 8389 3405
