Forus S.a. · BCS:FORUS
Forus — Investor Presentation (August 2009)
34 slides from Forus's investor presentation, August 2009
Slide 1: Forus brands & retail, August 2009
SS » August 2009
Slide 2: Investment Highlights
Investment Highlights Footwear, apparel and accessories. Leader in specialized → Brand builder: solid and wide brand portfolio of 19 brands. Retail → Huge portfolio of 14 different concepts of retail chains in Latam. With operations in Chile, Peru, Uruguay and Colombia. Regional → 254 stores and 27.
Slide 3: Agenda
Agenda 1. Company Overview 2. Main Business 3. Our Brands 4. Strategy 5. Financial Summary
Slide 4: The Most Valuable Brands in Chile
THE MOST VALUABLES BRANDS IN CHILE Source:
Slide 5: 29 years of experience
29 years of experience New Chain New Brand New Chain & New Brand Alfonso Swett S. start with Hush Puppies in Chile with 70% of participation. The remaining 30% was in the Wolverine World Wide hands. Forus buys Hush Puppies Peru operation. 1980 Construction of the 2008 1982 Forus buys the footwear’s
Slide 6: Company Overview: Corporate Structure
Company Overview Corporate Structure Forus S.A 100,0% 99,97% 94,95% 99,35% Uruforus Peruforus Colombia Forus Topsafety (Uruguay) (Peru) (Colombia) (Norseg)
Slide 7: Company Overview: Ownership Structure
Company Overview Ownership Structure August, 2009 Institutional Investors Others Brokers 5,3% Investment 0,2% 6,7% Funds 16,7% Companies Costanera related to 64,6% Costanera 6,6%
Slide 8: Company Overview: Management Board
Company Overview Management Board Alfonso Swett S. President + 6 Board members Executive Director Investor Relations Alfonso Swett O. Macarena Swett CEO Gonzalo Darraidou Commercial Manager Factory Manager Sebastián Swett Carlos Espinoza Retail Manager HR Manager Claudio Cabrera Manuel Somarriva CFO
Slide 9: Forus Chile Sales breakdown by Class
Company Overview Forus Chile Sales breakdown by Class 2008 Accessories Apparel 6% 21% Sales by Channel Footw ear 73%
Slide 10: Regional Presence
Regional Presence Colombia N°Tiendas: 19 Perú Ventas: $1.115 MM N°Tiendas: 22 Ventas: $2.707 MM Uruguay N°Tiendas: 22 Chile Ventas: $3.682 MM N°Tiendas: 191 Ventas: $44.897 MM Figures in Ch$ as of June 30, 2009.
Slide 11: Growth in n° stores and sq.meters
Growth in n° stores and sq.meters 2004 2005 2006 2007 2008 June '09 Forus Chile Square meters 12.690 15.091 16.763 19.232 21.986 21.984 N° Stores 114 136 154 175 191 191 Subsidiaries Square meters 482 482 1.180 3.422 5.321 5.600 N° Stores 5 5 12 43 61 63 Peru - - Square meters - - 214 391 2.063 2.19
Slide 12: Growth in n° stores and sq.meters
Growth in n° stores and sq.meters 30.000 27.584 300 252 25.000 254 250 218 27.307 20.000 166 22.655 200 141 15.000 119 17.942 150 13.172 15.573 10.000 100 5.000 50 0 0 2004 2005 2006 2007 2008 2Q '09 Square meters N° Stores 12
Slide 13: Main Business: Chile
Main Business Chile Retail Chile: 13 different Chains Stores
Slide 14: Main Business: Chile
Main Business Chile Retail Chile: 13 different Chains Stores
Slide 15: Main Business: Chile
Main Business Chile Retail Chile: 13 different Chains Stores
Slide 16: Main Business: Chile
Main Business Chile Retail Chile: 13 different Chains Stores Woman
Slide 17: Main Business: Chile
Main Business Chile Retail Chile: 13 different Chains Stores
Slide 18: Main Business: Peru
Main Business Peru Retail Peru: 4 different Chains Stores
Slide 19: Main Business: Uruguay
Main Business Uruguay Retail Uruguay: 5 different Chains Stores
Slide 20: Main Business: Uruguay
Main Business Uruguay Retail Uruguay: 5 different Chains Stores
Slide 21: Main Business: Colombia
Main Business Colombia Retail Colombia: 1 Chain Store
Slide 22: Our Brands – 19 brands
Our Brands — 19 brands FORUS e Hush Puppies Columbia < We Invented Comfort ae Wh = ( MERRELL = calpan BY” ise r@. pany Hush Puppies only women'secret AZAleia’ pasqualini y ZN ; Patagonia ma san k montrail. 1 39
Slide 23: Our Brands
Our Brands Brand Arrival Focus Hush Puppies 1980 Family; kids, men and women footwear Brooks 1988 Sport footwear for family Hush Puppies Kids 1991 Apparel for kids Rockford 1991 Outdoor apparel and footwear Columbia 1993 Technical outdoor apparel and footwear Caterpillar 1995 Urban casual and outdoo
Slide 24: Strategy: Retail Segmentation
Strategy Retail Segmentation “The retail industry has long been characterized by a persistent underbelly of low performing retailers. In fact 35 percent of the industry has survived despite returns that are consistently near or below their cost of capital. This situation has been exacerbated by sign
Slide 25: Strategy: Retail Segmentation
Strategy Retail Segmentation 2001 2009 Forus' Specialty Stores Forus' Specialty Higher-End Stores (Concepts) Department Stores A Department Stores A Mid Tier Category Killers Value Players Supermarkets Supermarkets Source: Forus S.A.
Slide 26: Strategy: Supply Strategy
Strategy Supply Strategy Most of the products that Forus sells are purchased directly from Asian producers, mainly China. Through a network that includes its own operation in China and its licensees. Forus benefits from attractive trade conditions associated with the purchasing volume of the compani
Slide 27: Financial Summary
Financial Summary FORUS 27
Slide 28: Consolidated P/L 2004 - 2009
Consolidated P/L 2004 - 2009 MM Ch$ 2004 2005 2006 2007 2008 Var 08/07 1S '08 1S '09 Var 09/08 Sales Revenue 58.373 67.523 74.271 98.629 105.716 7,2% 52.492 51.264 -2,3% Operating Income 6.021 8.209 10.751 15.939 15.710 -1,4% 9.814 7.102 -27,6% Net Income 3.592 5.159 8.213 10.072 11.695 16,1% 6.951
Slide 29: Revenues' Growth
Revenues’ Growth Revenues in MM Ch$ 2008/2007: Retail Chile: +5,1% International: +157,1% CAGR real ’04-’08 = 16,0% 98.629 105.716 74.271 67.523 58.373 52.492 51.264 +7,2% 2004 2005 2006 2007 2008 1S '08 1S '09 CAGR nominal = 22,4%
Slide 30: EBITDA's Growth
EBITDA’s Growth CAGR real ’04-’08= 26,4% EBITDA in MM Ch$ 21,5% EBITDA Margin 19,0% 18,3% 17,6% 18.699 19.299 16,9% 14,7% 13,0% 13.047 11.273 9.924 8.680 7.571 +3,2% 2004 2005 2006 2007 2008 1S '08 1S '09 EBITDA
Slide 31: Net Income's Growth
Net Income’s Growth Net Income in MM Ch$ CAGR real ’04-’08= 34,3% 11.695 10.072 8.213 6.951 5.159 +16,1% 4.060 3.592 2004 2005 2006 2007 2008 1S '08 1S '09 Net Income
Slide 32: Sales by Subsidiaries 2008
Sales by Subsidiaries 2008 MM Ch$ 2004 2005 2006 2007 2008 Var 08/07 1S '08 1S '09 Var 09/08 Chile 57.112 65.991 72.528 93.126 97.862 5,1% 48.102 44.897 -6,7% Uruguay 1.163 1.611 1.950 3.410 7.957 133,4% 3.601 3.682 2,3% Peru - - - 836 3.350 300,8% 948 2.707 185,4% Colombia - - - 1.176 2.633 123,9%
Slide 33: Sales by Subsidiaries 2008
Sales by Subsidiaries 2008 Sales by Subsidiaries 2007 Sales by Subsidiaries 2008 TopSafety TopSafety Perú Perú 2,3% Colombia Uruguay 1,5% 0,8% Colombia 3,2% 2,5% 3,5% Uruguay 1,2% 7,5% Retail Chile Retail Chile 93,0% 84,5%
Slide 34: Slide 34