Qualitas Controladora S.A.B. de C.V. · BMV:Q
Qualitas Controladora S.A.B. de C.V — Q4 2014 Earnings Presentation
12 slides from Qualitas Controladora S.A.B. de C.V's earnings presentation, 2015
Slide 1: Quálitas Controladora 4Q14 Webcast
Quálitas Controladora 4Q14 Webcast 1
Slide 2: Contents
Contents Throughout the document, figures are expressed in million pesos, except when is otherwise specified. Variations are expressed on a yearly comparison. QC – Quálitas Controladora - Quálitas’ Growth - Written Premiums - Income Statement - Claims Cost - Operating Expenses - Cost Ratios - Invest
Slide 3: Quálitas' Growth
Quálitas’ Growth Market Share 2010 2011 2012 2013 sep-14 Qmx 19.6% 20.1% 21.5% 22.5% 24.7% Qsv 4.4% 7.2% 8.3% 10.3% 12.2% Qcr * NA 1.0% 2.4% 3.4% NA: Not availabe *CAGR: 11.2% *CAGR: 15.3% *CAGR= Compound Annual Growth Rate 3
Slide 4: Written Premiums
Written Premiums 2014 INCREASE IN PRICES 2014 NEW OPENINGS Month % Increase May 2.2% • 3 Service Offices August 4.2% November 2.9% • 28 ODQs Total 9.6% Segment 2014 2013 Δ$ Δ% Individual 3,999 3,814 185 4.9% Fleets 5,519 4,967 552 11.1% Sum of Traditional 9,519 8,782 737 8.4% Financial Institutions
Slide 5: Income Statement
Income Statement 2014 2013 Δ% Written Premiums $ 17,340 $ 15,226 13.9% Earned Premiums 15,356 13,558 13.3% Acquisition Cost 4,143 3,554 16.6% Claims Cost 10,674 9,031 18.2% Operating Expenses 724 508 42.5% Operating Result -185 465 -139.8% Investment Income 1,036 782 32.6% Income before taxes 851 1,
Slide 6: Claims Cost
Claims Cost • Update on the Reserves Expenses Claims and Other Contractual Obligations 200.9 Liabilities Contractual Obligations For Claims and Expirations 82.2 For Claims Incurred but not Reported 100.4 Other 18.3 200.9 6
Slide 7: Operating Expenses
Operating Expenses 2014 2013 Δ$ Δ% Administrative Expenses 871 699 172 24.6% Employee Profit Sharing 27 0 27 NA Discretionary 898 699 199 28.5% Banking Services 154 109 45 41.4% Representatives 407 406 1 0.3% Policies' Fees (revenue) -856 -776 -80 10.3% Other income -147 -176 29 -16.4% Non-Discretio
Slide 8: Cost Ratios
Cost Ratios Acquisition 23.5% 23.9% 103% 21.0% 22.0% 3% Claims 77.3% 2010 2011 2012 2013 2014 Operating 4.2% 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Combined 2010 2011 2012 2013 2014
Slide 9: Investment Income
Investment Income Portfolio by Type of Risk Portfolio by Type of Issuer Return on Investments Equities 4Q14 2014 Gain on Equities 21 431 Average Portfolio 2,496 2,261 Annualized Yield 3.4% 19.1% Naftrac Yield -16.5% 1.0% IRT Yield -15.5% 1.9% 9
Slide 10: Solvency Margin
Solvency Margin QC’s solvency margin registered $1,143, which results in a solvency margin ratio of 37.5% Minimum Equity Solvency Solvency Margin Requirement Margin Ratio Qmx 2,719 873 32.1% Qsv 35 20 58.2% Qcr 71 2 2.4% QUIC 221 34 15.2% Total 3,046 929 QC Cash 214 QC 3,046 1,143 37.5% FX Peso-USD
Slide 11: Guidance 2015
Guidance 2015 Δ% vs 2014 Written Premiums 7% - 9% Earned Premiums 7% - 9% Operating Results 2% of earned premiums Combined Ratio 96% Investment Income Cetes 28 Rate + 300 b.p. Tax Rate 30% *This guidance was calculated considering a GDP growth of 3.3% and an inflation rate of 3.4% for 2015 11
Slide 12: Our Analysts
Our Analysts Institution Analyst E-mail 414 Capital Francisco Sánchez Ávalos [email protected] (Independent Ana l ys t) Actinver Martín Lara [email protected] BBVA Research Ernesto Gabilondo [email protected] Grupo Bursátil Mexicano José Juan Carreño [email protected] Intera
Quálitas Controladora — Q4 2014 Earnings Presentation on 6ix