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EARNINGS
PRESENTATION
Fourth Quarter 2019
DISCLAIMERThis presentation contains forward-looking statements, including statements regarding the intent, belief or current expectations of the company and
its management. Investors are cautioned that any such forward-looking statements are not a guarantee of future performance and involve a number of
risks and uncertainties including, but not limited to, the risks detailed in the company’s financial statements, and actual results could differ materially
from those indicated by such forward-looking statements.
Our strategic
priorities
01
Differentiated Value
Proposition
02
Scaling Up Logistics
And Fulfillment
03
Financing and
Payments
04
Data Analytics
and Business
Intelligence
05
Technological
Platform
Development
Building a digital ecosystem leveraged on our unmatched physical assets
3
Falabella Retail
23% penetration
Home Improvement
Supermarkets
US 264 Mn
US 49 Mn
US 11 Mn
ONLINE
SALES 4Q19
Note: This information does not include Linio
T O T A L O N L I N E S A L E S
11.4%Online penetration
+28% Growth NMV
Ecommerce sales
NMV Linio
Mn US; annual var. (%)
+240 Mn, Visits to our retail
platforms
+3.8 Mn,
+25% YoY growthOrders on our ecommerce
sites
4Q19 |
continuous growth
of our online channels
US 371 Mn, +29%4Q19 online sales of financial products; growth
271 323
41 75
312 398
4Q18 4Q19
4
NMV 1
Annual Var (%)
FX neutral
Market place
performance
1 NMV corresponds to Net Merchandise Value. A measure of the total sum of all transactions made through Linio, net of VAT
153% 87% 65% 51%
Peru Chile Colombia Others
Marketing investment accelerated,
increasing traffic by 104% and
number of SKUs in 39%.
MAIN
EVENTS
5
Mexico2 logistic centers
18,000 Sqm
Colombia10 logistics centers
146,000 Sqm
Peru15 logistics centers
296,000 Sqm
Chile39 logistics centers
780,000 Sq m
1 Food Production Center
+8,000 Sqm
Argentina3 logistics centers
63,000 Sqm
2. Information only for operation in Chile
ASSORTMENT AVAILABLE FOR DISPATCH IN 24 HRS.2
76% Falabella Retail79% Sodimac
CLICK AND COLLECTPENETRATION
+60% Falabella Retail
Logistics capabilities and
network
Brazil2 logistics centers
63,000 Sqm
6
FINANCIAL RESULTS
R E V E N U E S
Mn US; annual var. (%)
4Q19 |
Revenue
+1.6%Growth
4Q18 4Q19
3,4193,473
8
-4.7%Growth
35.2%Gross margin
G R O S S P R O F I T
Mn US; annual var. (%)
Gross profit
4Q18 4Q19
1,283 1,223
9
IFRS 16 Effect
-32.8%Growth as reported
-37.4%Excluding IFRS 16
6.8%Operating Margin as reported
Operating Income
O P E R A T I N G I N C O M E
Mn US; annual var. (%)
Operating Income
352221
As
reported
236
4Q18 4Q19
10
Operating Income (US Mn)
11
267236
-33 -14 16
352
4Q18 Op Income 4Q19 Adjusted Op
Income
IAS 29 - Op Income Linio - Op Income IFRS 16 - Op
Income
4Q19 Reported Op
Income
Dec 2018
Net Financial Debt/Ebitda (times)
w/o Banking Operations
Leverage (times)
w/o Banking Operations
Debt By Creditor
w/o Banking Operations
Debt By Maturity
w/o Banking Operations
4.9 yearsDuration
US$ 4,179 MMFinancial Debt w/o Banks
Dec 2019
3.38
3.48
Dec 2018
Dec 2019
0.91
1.04
Leverage
68%
32%
Public bonds Financial institutions
13%
87%
Short term Long term
12
INFORMATION BY SEGMENT
FALABELLA RETAIL
69.6% 14.9% 9.9% -8.3%
Mn CLP; Annual Var (%)
4.4%
SALES
4Q19
SSS 9.5% 36.1% 4.6% -3.5%
Var Local
Currency %18.2% 8.3% -1.8% -8.3%
MAIN
EVENTSWe reached more than 135 stores with corporate
Click and Collect,
Online sales reached 23% of total sales.
82.611 176.206 197.627
420.952
877.396
Argentina Colombia Peru Chile Total
14
59.9% 14.3% -11.5% 12.4% -10.5% -2.3%
SODIMAC
Mn CLP; Annual Var (%)
SALES
4Q19
SSS 36.8% 6.6% -0.7% 8.2% -6.1%
Var Local
Currency %5.0% 13.6% 0.3% 8.1% -10.5%
MAIN
EVENTS
Two store openings in Mexico during 4Q19.
36.974
59.314184.465
245.434
500.949
781.702
Argentina Brasil Peru Colombia Chile Total
15
-11.7% 21.0% 5.6%
TOTTUS
Mn CLP; Annual Var (%)
SALES
4Q19
SSS -0.9% 2.5%
Var Local
Currency %-11.7% 8.4%
MAIN
EVENTS
3 Hiperbodega Precio Uno and 1 Tottus
opening in Peru
180.188
275.586
455.774
Chile Peru Total
16
FINANCIAL SERVICES
Mn CLP; Annual Var (%)
GROSS LOANS
4Q19
-45.9% 17.6% 36.4% 7.9%MAIN
EVENTS
CMR credit card sales reached $2,189,950 Mn
(US$2,925 Mn), driven by sales on third parties
(on-them), which account for ~60% of the
sales with our credit card.
Also, we continue advancing with online credit
card openings, conducting 12% of the
openings through this channel.
60.593
755.438 889.100
3.911.440
Argentina Peru Colombia Chile
17
REAL ESTATE
Mn CLP; EBITDA Margin (%)
EBITDA
PLAZA
43Shopping Centers(Mallplaza+Open)
3,2 MnM2 GLA between shopping centers
and free standing
MAIN
EVENTSOpening of Open Kennedy, Chile and Mallplaza
Buenavista, Colombia.
70.210
45.116
77,6% 62,4%
4Q18 4Q19
18
ANNEX
4Q19 |
Pro Forma Consolidate Statements
excluding IFRS 16
3Q19 IFRS 16 adjustments3Q19
excl. IFRS 16
Non-Banking Business Revenue 2,251,145 2,251,145
Banking Business Revenue 349,362 349,362
Total Revenue 2,600,507 2,600,507
Non- Banking Cost of Goods Sold (1,501,930) (1,501,930)
Banking Cost of Goods Sold (182,501) (182,501)
Gross Profit 916,076 916,076
S,G&A (738,999) (11,965) (750,964)
Operating Income 177,077 (10,159) 165,112
Depreciation and Amortizations 110,835 (26,618) 84,218
EBITDA 287,913 (38,583) 249,300
Net Financial Income / (Costs) (58,614) 14,313 (44,301)
Exchange Rate Difference (2,470) (2,597) (5,067)
Hedge 2,948 2,948
CLP Mn
20
4Q19 |
Pro Forma Statements Per Segment in Chile
excluding IFRS 16CLP Mn
4Q19IFRS 16
adjustments
4Q19
excl. IFRS 16
Revenues 420.952 420.952 Gross Profit 144.736 144.736 Gross Margin 34,4% 34,4%SG&A (139.227) (3.016) (142.243) SG&A / Revenues -33,1% -33,8%Operating Profit 5.509 (3.016) 2.493 Operating Margin 1,3% 0,6%Depreciation 19.977 (9.728) 10.248 EBITDA 25.486 (12.744) 12.742 EBITDA Margin 6,1% 3,0%
Department Stores
4Q19IFRS 16
adjustments
4Q19
excl. IFRS 16
Revenues 500.949 500.949 Gross Profit 142.536 142.536 Gross Margin 28,5% 28,5%SG&A (142.914) (4.252) (147.166) SG&A / Revenues -28,5% -29,4%Operating Profit (378) (4.252) (4.630) Operating Margin -0,1% -0,9%Depreciation 23.883 (12.650) 11.233 EBITDA 23.505 (16.902) 6.603 EBITDA Margin 6,4% 1,3%
Home Improvement
4Q19IFRS 16
adjustments
4Q19
excl. IFRS 16
Revenues 180.188 180.188 Gross Profit 47.453 47.453 Gross Margin 26,3% 26,3%SG&A (51.497) (1.475) (52.972) SG&A / Revenues -28,6% -29,4%Operating Profit (4.044) (1.475) (5.519) Operating Margin -2,2% -3,1%Depreciation 11.209 (5.827) 5.382 EBITDA 7.165 (7.301) (137) EBITDA Margin 4,0% -0,1%
Supermarkets
21
4Q19 |
Pro Forma Statements Per Segment International Operations
excluding IFRS 16CLP Mn
4Q19IFRS 16
adjustments
4Q19
excl. IFRS 16
Revenues 741.023 741.023 Gross Profit 245.328 245.328 Gross Margin 33,1% 33,1%SG&A (178.016) (4.197) (182.213) SG&A / Revenues -24,0% -24,6%Operating Profit 67.312 (4.197) 63.116 Operating Margin 9,1% 8,5%Depreciation 27.985 (4.922) 23.063 EBITDA 95.297 (9.118) 86.179 EBITDA Margin 12,9% 11,6%
Peru
4Q19IFRS 16
adjustments
4Q19
excl. IFRS 16
Revenues 137.060 137.060 Gross Profit 65.685 65.685 Gross Margin 47,9% 47,9%SG&A (56.418) (327) (56.745) SG&A / Revenues -41,2% -41,4%Operating Profit 9.267 (327) 8.940 Operating Margin 6,8% 6,5%Depreciation 3.586 (1.168) 2.418 EBITDA 12.853 (1.495) 11.358 EBITDA Margin 9,4% 8,3%
Argentina
4Q19IFRS 16
adjustments
4Q19
excl. IFRS 16
Revenues 237.964 237.964 Gross Profit 92.060 92.060 Gross Margin 38,7% 38,7%SG&A (60.222) (1.672) (61.895) SG&A / Revenues -25,3% -26,0%Operating Profit 31.837 (1.672) 30.165 Operating Margin 13,4% 12,7%Depreciation 8.049 (2.459) 5.589 EBITDA 39.886 (4.132) 35.754 EBITDA Margin 16,8% 15,0%
Colombia
4Q19IFRS 16
adjustments
4Q19
excl. IFRS 16
Revenues 59.314 59.314 Gross Profit 17.202 17.202 Gross Margin 29,0% 29,0%SG&A (23.180) (1.170) (24.350) SG&A / Revenues -39,1% -41,1%Operating Profit (5.978) (1.170) (7.148) Operating Margin -10,1% -12,1%Depreciation 1.279 (2.193) (914) EBITDA (4.699) (3.364) (8.063) EBITDA Margin -7,9% -13,6%
Brazil
22
investors.falabella.com
inversionistas@falabella.cl
Juan-Luis Carrasco, Head IR
Pablo Muñoz, IR Analyst
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