Smu Sa · BCS:SMU
Smu Sa — Q3 2018 Earnings Presentation
13 slides from Smu Sa's earnings presentation, November 2018
Slide 1: Earnings 3Q18
SMU S.A. EARNINGS 3Q18 NOVEMBER 2018
Slide 2: Caution Regarding Forward-Looking Statements
CAUTION REGARDING FORWARD-LOOKING STATEMENTS THIS PRESENTATION MAY CONTAIN FORWARD-LOOKING STATEMENTS. WE HAVE BASED ANY SUCH FORWARD-LOOKING STATEMENTS LARGELY ON OUR CURRENT BELIEFS, EXPECTATIONS AND PROJECTIONS ABOUT FUTURE EVENTS AND FINANCIAL TRENDS AFFECTING OUR BUSINESS. ALTHOUGH MANAGEMENT C
Slide 3: Note Regarding Presentation and Comparison of Information
NOTE REGARDING PRESENTATION AND COMPARISON OF INFORMATION ON APRIL 27, 2018, SMU COMPLETED THE SALE OF ITS SUBSIDIARY CONSTRUMART S.A. AND ITS SUBSIDIARIES. SUCH COMPANIES COMPRISED THE “CONSTRUCTION MATERIALS” OPERATING SEGMENT. IN ACCORDANCE WITH THE PROVISIONS OF IFRS 5, IN SMU’S CONSOLIDATED FIN
Slide 4: Revenue
REVENUE REVENUE – FIRST NINE MONTHS REVENUE – THIRD QUARTER (CLP BN) (CLP BN) 1627 1663 1699 1537 564 569 577 523 28.2% 28.5% 27.5% 28.6% 26.3% 27.4% 27.8% 26.0% 9M15 9M16 9M17 9M18 3Q15 3Q16 3Q17 3Q18 REVENUE GROSS MARGIN REVENUE GROSS MARGIN REVENUE +2.2% IN 9M18 VS 9M17 +1.5% IN 3Q18 VS 3Q17
Slide 5: Revenue by Format
REVENUE BY FORMAT 9M18 VS 9M17 REVENUE BY FORMAT (CLP BN) HIGHLIGHTS MAYORISTA 10 REVENUE GROWTH: +4.9% REVENUE GROWTH IN PERU IN PERUVIAN SOLES: +7.3% 1,698.6 11.1 0.9 1.0 2.4 21.3 1,662.5 (0.7) 5
Slide 6: Same-Store Sales and Sales per Square Meter
SAME-STORE SALES AND SALES PER SQUARE METER SSS AND SALES/M2 – FIRST NINE MONTHS(1)(2) SSS AND SALES/M2 – THIRD QUARTER (1)(2) 312 301 318 293 304 310 278 284 8.6% 7.3% 5.6% 7.4% 2.2% 2.7% 1.3% 1.8% 9M15 9M16 9M17 9M18 3Q15 3Q16 3Q17 3Q18 SALES/M2 (CLP THOUS) SSS (%) SALES/M2 (CLP THOUS) SSS (%) SAM
Slide 7: Operating Expenses
OPERATING EXPENSES(1) OPERATING EXPENSES – FIRST NINE MONTHS HIGHLIGHTS (CLP BN) LOW GROWTH IN SELLING AND ADMINISTRATIVE EXPENSES (+1.0% IN 9M18 / +1.0% IN 3Q18) 354 369 375 330 DECREASE IN PERSONNEL EXPENSES (-2.2% IN 9M18 AND -0.7% IN 3Q18) 21.4% 21.8% 22.2% 22.1% CENTRALIZATION (CHILE(2)) 47
Slide 8: EBITDA
EBITDA(1) EBITDA – FIRST NINE MONTHS EBITDA – THIRD QUARTER (CLP BN) (CLP BN) 109.5 93.0 99.4 40.0 75.0 33.9 35.0 23.8 6.4% 6.9% 5.7% 6.0% 6.0% 6.1% 4.9% 4.5% 9M15 9M16 9M17 9M18 3Q15 3Q16 3Q17 3Q18 EBITDA EBITDA MARGIN EBITDA EBITDA MARGIN EBITDA +10.1% IN 9M18 VS 9M17 +14.5% IN 3Q18 VS 3Q17 EB
Slide 9: Non-Operating Results
NON-OPERATING RESULTS NON-RECURRING EFFECTS IN 9M18 9M18 VS 9M17 NON-OPERATING LOSS RESTRUCTURING PROGRAM (CLP 8.4 BN) (CLP BN) EXTRAORDINARY FINANCIAL EXPENSES (CLP 11.9 BN) INTEREST EXPENSE SAVINGS RECURRING FINANCIAL EXPENSES 9M18: -33.3% / 3Q18: -40.6% 11.9 8.4 6.1 1.3 2.3 68.4 55.5 (17.0)
Slide 10: Net Income
NET INCOME NET INCOME– FIRST NINE MONTHS NET INCOME– THIRD QUARTER (CLP BN) (CLP BN) 22.2 10.8 9.3 7.4 0.5 3.7 (17.2) (39.2) 9M15 9M16 9M17 9M18 3Q15 3Q16 3Q17 3Q18 NET INCOME 9M18 VS 9M17 OPERATING INCOME +CLP 9.0 BN NON-OPERATING LOSS -CLP 13.0 BN TAX: +CLP 17.6 BN NET INCOME 3Q18 VS 3Q17
Slide 11: Financial Debt
FINANCIAL DEBT NET DEBT/EBITDA IMPROVEMENTS IN FINANCIAL POSITION (INCL. FINANCIAL LEASES)(1) SUSTAINED IMPROVEMENTS IN OPERATING RESULTS 8.1x 6.6x CAPITAL INCREASES IN 2017-2018 4.8x ELIMINATION OF USD DEBT 3.8x REFINANCING THROUGH LOCAL BOND PLACEMENTS SALE OF CONSTRUMART DDEC IC. 2015 D
Slide 12: Recent Operating Highlights: Plan CIMA Update
RECENT OPERATING HIGHLIGHTS PLAN CIMA UPDATE CUSTOMER EXPERIENCE: STORE UPGRADES 130 STORE UPGRADES PLANNED FOR 2017-2021 29 UPGRADES COMPLETE (+2 REINAUGURATIONS 29 NOV.) 9 UPGRADES IN PROGRESS TOTAL: 40 UPGRADES TO BE COMPLETED BY YEAR-END 2018 CUSTOMER EXPERIENCE: PERSONALIZED PROMOTI
Slide 13: Earnings 3Q18
SMU S.A. EARNINGS 3Q18 NOVEMBER 2018