Non deal road show – ny & mid atlantic

October 2012

Non Deal Road Show ndash NY and Mid-Atlantic

2

Highlights of Magazine Luiza and Brazilian Market ndash 1H12

Institutional Presentation

bull Overview of the Brazilian Market

bull Magazine Luiza

3

Highlights ndash Brazilian Market

Brazilian GDP has grown 11 annual rate over the last 9 years

The country has reached the full employment for the 1st time recently

The real income growth makes us a powerful consumer nation driven by the mid class which already stood for 493 of the total residences in 2011

Consumer credit has been considered the turbine of growth with stable compromised monthly income with debt services despite the constant increase of family indebtedness

The drop of the income rate has begun to effect the credit takers maintaining the confidence of Brazilian consumers

In order to reach a satisfactory housing shortage level it is expected that 235 million new houses be built from 2010 to 2022

More houses and credit availability are an opportunity to increase sales of durable goods and also to increase the penetration of these products in ldquoC classrdquo still considered low

Through products financing the retail market is usually responsible for the ldquoC classrdquo access to financial services

1

4

Highlights ndash Retail in Brazil1

Retail growth above GDP (more than 8 years) Retail Participation of GDP (2011)

Retail GDP

Sellout Retail GDP Value Added Retail GDP

5


Major private employer (2011 and 2010) Still major private employer till July 2012

Number of employees per sector (thousands) Number of employees per sector (thousands)

2243 of total 22 of total

6


Retail ndash Regional Performance Retail growth = income employment and wages

North

Mid-west

South

Southeast

Northeast

Wages () Unemployement () Income ()

7


Consumption became the growth motorRretail creates value

Durable goods growth above the average

RetailDurable goods

GDP Retail Consumption GDP per capita Linear (retail)

8

Magazine Luiza drivers of value

Excellent relationship management (CRM

tools)

Corporate governance since its foundation

Strong corporate culture focus on valuing people

and customers

Focus on the best product mix

Pioneer in the retail financial service

Magazine LuizaFirst social e-commerce in Brazil

Multiple opportunities of growth

Multi-channel model under the same brand

2

9

Highlights ndash Magazine Luiza Retail Operations

Sales Competitive Environment

Same store sales growth ndash 3Q12bull Low teens ndash lower than 2Q12 strong comparison base

with 3Q11 (same store sales growth of around 20)o Physical stores impact of integration process of

Lojas Maia (sales force training new systems)o E-commerce maintenance of growth level

Same store sales growth ndash 4Q12bull Low teens better comparison base with 4Q11 (same

store sales of 10) o Expectations of economy recoveryo End of integration process of Lojas Maia

Total sales growth ndash 2012 bull Mid teens

o Opening of 25 storeso Maturation process of Lojas Maia and Bauacute

Expectations for 2013bull Same store sales growth ndash low teens

o Higher GDP growtho Maturation process of nearly 13 of the stores

(still not mature)

Physical storesbull Tough competitive environment ndash there was no major

change in the last few monthso Pressure for competitive priceso Interest free sales some players with aggressive

strategies sometimes irrational oneso Magazine Luiza maintain is financial discipline of

limiting interest free sales to 15 of total salesbull Magazine Luiza drivers of value

o Multi-channel approacho Focus on service quality and cliento Competitive prices (not every day low price)o Client relationship management (CRM) and best

company to work for (focus on people)o Financial products and services

E-commercebull Competitive environment ndash entrance of new pure

internet players though bricks and mortar players with internet are performing better

bull Aggressive prices and installment plansbull Magazine is gaining market share every quarter

o Investments in logistics and ITo Product mix (long tail)o Multi-channel approach

3

10

Integration Process ndash Lojas do Bauacute

3Q11 4Q11 1Q12 2Q12

Lojas do Bauacute integration process

Acquisition of 121sup1 stores from Lojas do Bauacute

Documentation to start operating

Virtual Stores

Virtual stores opening

Stores renovation

Systemic and corporate integration

Conventional Stores

Conventional stores opening

Stores renovation

Systemic integration

Integration benefits (synergy)

July 29 2011 - R$803 million

Most of the closed stores were closed during this period

69 stores (34 Paranaacute 34 Satildeo Paulo 1 Minas Gerais)

Uniforms and storefront changes

End of feb2012

(7 months)

35 stores (Paranaacute)

Complete stores renovation

End of dec2011

1) 13 stores were alienated and 4 conventional stores were renovated and attached to other existent Magazine Luiza1 store

3

11

Integration Process ndash Lojas Maia

4Q11 1Q12 2Q12 3Q12 4Q12 1Q13

Lojas Maia integration process

Brand change ndash Magazine Luiza

Metropolitan area of Recife

Metropolitan area of Maceioacute

Metropolitan area of Fortaleza

Other Regions

Corporate integration

Stores systemic integration


14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012

1) The front end integration had been carried in 2010 which considers sales force training product range mix financial services and small stores renovation

3

12


Integration Process Margins and Expansion

Integration Process ndash Lojas do Bauacutebull Ended on February 2012bull Beginning of the maturation process (2012 first year of

operations)

Integration Process ndash Lojas Maiabull Last phase of the integration process ndash systemic

integration ndash end in mid-October bull Cost synergies from 4Q12 and mainly in 2013

o Gross Margin ndash there is a 400bps gap between Maia and ML This margin should be converged with more efficient inventory and price management

o Expenses (GampA) ndash costs and expenses reduction opportunities because only a focal point will be needed in the NE thus decreasing expenses between 100 to 200bps

bull Synergy sales ndash synergies from the beginning of the integration and SSS growth above the company average

Gross Marginbull From 2013 gains from Maiarsquos gross margin slightly

offset by increased share of e-commerce (which has lower margins)

EBITDAbull SGampA synergies

o SGampA reduction at Lojas Maiao Dilution of expenses due to stores maturation

process (marketing and logistics)o Rationalization of costs and expenses project of

all offices stores and DCso Improvement in stores productivity (sales and

back-office services)

Expansion 2013bull Keeping conservative growth pace with 25 new stores

Expansion 2014bull Due to the improvement in profitability the company

may return to a faster pace of growth (50 stores per year through organic growth or acquisitions)

3

13

Highlights ndash Consumer Finance Operations

Macroeconomic Changes Luizacredrsquos Profitability

Reduction in basic interest ratesbull Increase in Luizacred spread due to ML keeping CDC

and credit card interest rates in short and medium term

Reduction in interest rates of financial productsbull The government is pressuring banks to lower credit

card interest rates mainly revolving rates However ML will maintain the current rates

o ML has competitive rates compared to other banks and retailers

o Study to reduce revolving rate (16 currently) ndashless impact to ML because their revolving is a side business unlike banks In this product most customers are delinquent

Sales without interestbull ML discourages interest-free sales in Luiza card and

third-party credit card Limited to 15 on Luiza credit card

bull Low expectations of changes in Brazil because this could be an unpopular government measure and due to lower SELIC (cheaper discounted receivables) however ML believes in a more rational scenario

Financing productsbull Credit card more selective in offering to customers

Targeted at more active customers inside and outside ML stores Operating costs can be offset by higher use Reduction in share (20-25 total sales)

bull CDC focus on clients who only want to finance the purchase instead of applying for 5-year-credit Low operating costs and higher interest rates Increased share (20-25 total sales)

bull Third-party credit card higher share due to Itauacute conservativeness in Luizacred and increased e-commerce share

Profitabilitybull Approval rate stable (around 20)bull Improved delay indicatorsbull Proportional PDD reduction from 4Q12bull Continuing cost and expense reductionbull Improving profitability quarter by quarterbull Profitability should return to 10-15 EBITDA level in

2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16


Source LCA IBGE 2009 Estimativas 2012 LCA

44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700

Real Growth()Nominal GDP (R$)

17

and the country has reached the full employment for the 1st time recently

working-age population

Source MTE (Ministeacuterio do Trabalho e Emprego) IBGENew formal jobs creation

Number of jobs created (MM)

09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)

Middle Class Total Wage (R$ Bn)

200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

The real income growth makes us a powerful consumer nation

Source DIEESE (Depto Intersindical de Estatiacutesticas e Estudos Socioeconocircmicos) BACEN

Growth 211

Growth 64

19

driven by the mid class which already stood for 493 of the total residences in 2011

A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011

Social classes composition - of total residences

Source IPC TARGET

20

Consumer credit has been considered the turbine of growth

1) Total credit operations over GDP2) Data referred to June12

Credit Operations Balance (R$ Bn)

GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45

jan05 jan06 jan07 jan08 jan09 jan10 jan11 jan12

with stable compromised monthly income with debt services despite the constant increase of family indebtedness

1) Debt burden in of disposable incomeSource BACEN

Debt Burdensup1

Household Indebtedness

155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22


Source BCB Fecomeacutercio

0

5

10

15

20

25

90

110

130

150

170

190

jan02 jan03 jan04 jan05 jan06 jan07 jan08 jan09 jan10 jan11 jan12

0102030405060708090

100

Average Debt Interests x SELIC ( per year)

Indebtedness average term (months)

Brazilianrsquos Consumer Confidence

Goods acquisitions except vehicles TotalNatural Person Interest SELIC

23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011

Disbursed Contracted

CEFrsquos Housing Credit (R$ Bn)

Housing Projection (R$ MM) and Housing Shortage ()

113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795

CohabitantsUnsuitable Suitable

Source LCA (Construbusiness 2010 - FGV) Caixa Econocircmica Federal1) Includes estimative of new families ndash 1326 million per year 2) of families in the housing shortage

Housing Shortage

24

Household appliances (MM units)1 Electronics (MM units)2

Computers (MM units) Mobiles (MM units)

More houses and credit availability are an opportunity to increase sales of durable goodshellip

133163

210 198228

130

2007 2008 2009 2010 2011 1S2012

1) Includes refrigerator wash machine stove microwave air conditioner and freezer 2) LCD LED Plasma 3D DVD Home Theater Mini-system and auto sound systemSource GFK Retail

199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25

and also to increase the penetration of these products in ldquoC classrdquo still considered very low

12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo

Source PNAD 2009 (Pesquisa Nacional por amostra de domiciacutelios) IBGE1) Nielsen - Consumidor Moacutevel 2011

1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011


1) Number of store cards ndash total of the populationSource CETELEM (PesquisaObservador 2012 December 2011 ndash IPSOS) ABECS (Associaccedilatildeo Brasileira das Empresas de Cartatildeo de Creacutedito e Serviccedilos)

61

37

15

39

63

85

AB Classes C Class DE Classes

With Access Without Access

Access to current account Number of store cards (MM)1

CAGR 169 per year

27




bull Magazine Luiza

28

Growing for more than 50 years in the Brazilian Retail Market


and customers

Company

Financial Information ndash2Q12



Magazine LuizaFirst social e-commercein Brazil



29

Besides the retail segment Magazine Luiza has two JVrsquos ndash partners on financial and insurance sectors ndash and the Luiza Consortium

bull Joint Venture with Itauacute Unibanco

bull Financial institution established in 2001

bull Productso Co-branded card (Mastercard)o Direct Credit(CDC)o Consigned loano Personal loan

bull Joint Venture with Cardifestablished in 2005

bull Productso Extended warranty(The other insurances belong tothe operational agreementbetween Magazine Luiza andCardif)

bull Established in 1992

bull Household appliances furniture

services and vehicle consortium

bull 55 thousand actives clients

bull 220 thousand goods delivered

Free FloatControllers

50 10050

679 321

bull Retail chain with focus on durable goods only one brand (Lojas do Bauacute and Lojas Maia -corporate integration concluded

30

Currently 32 of the companyrsquos stocks are in the free float the remaining belong directly to the family and to the LTD holding

Pre ndash IPO Afterndash IPO

754

Controllers

Capital Intrsquol Inc (Private Equity Fund)

879

321

Controllers

Free Float (includes Capital Intrsquol Inc)

186494467 stocks150000000 stocks

124

876

31

Name PostYears with the

CompanyExperience

(years)

Corporate Governance

Executives with a wide experience in the Brazilian retail industry

Controlling shareholders with more than 50 years in the

industry

Board of Directors with independent members since 2005

Audit Committee led by an independent member

Financial statements audited for the past 10 years by a ldquoBig

Fourrdquo firm

Senior Management retention plan (stock options)

Fiscal council established in 2012

Luiza Helena TrajanoPresident

gt40 gt40

Marcelo SilvaCEO

3 34

Roberto BellissimoCFO

gt10 gt10

Fabriacutecio GarciaChief Commercial Officer

gt10 gt10

Frederico TrajanoChief Sales and Marketing Officer

gt10 gt10

Isabel BonfimChief Managemente and Control Officer

gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20

Note 1 Years of experience in the financial services industry

Experienced executives with strong corporate governance

32

Proven history of strong organic growth and successful aquisition even throughout adverse economic scenarios

06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12

Interior de SP+5 stores

Rede Wanel

Lojas Liacuteder

Campinas+20 stores

Rio Grande Sul+51 stores

Madol Killar

Santa Catarina+100 stores

Satildeo Paulo (Capital)+46 stores

Nordeste+136 stores

Gross Revenue ndash Retail Operation (R$ Billion) Number of Stores

Bauacute+104 stores

33

Broad geographic footprint including in the Northeast of Brazil

Distribuition Center(8)States with stores

of stores per region (1H2012)

Cabedelo

Simotildees Filho

ContagemRibeiratildeo Preto

LoureiraIbiporatilde

NavegantesCaxias

Geographic Footprint

31

24

731 stores

Gross Revenue evolution ndash Northeast

R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34

Ranked the 23th most valuable brand in Brazil

1) Source Istoeacute Dinheiro Milward BrownBrandanalytics

1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable

21 ndash 35 most valuable

36 ndash 50 most valuable brands


6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro

23 Magazine Luiza24 GOL

25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev

33 Patildeo de Accediluacutecar

34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo

Ranking published by Istoeacute Dinheiro Magazine ndash May 2012

Magazine Luiza brands values USD 479 MM

35



and customers

Company







36

High influence of service and credit on purchasing decision

15 years among the Best Place to Work

Luiza Consortium for the last 2 years among the best companies to work (small and medium sized companies)

Communication Luiza TV Radio Luiza Town Halls

Transparency availability of management information and frequently alignment

Empowerment sales staff and managers have flexibility to negotiate sales conditions within a range

Compensation based on gross profit financial margin and sales

Strong corporate culture assisted by a sales model that is supported by enthusiastic teams

Price398

370

ServiceCredit

84Product Variety

45

Punctuality of Delivery

32

Offered Brands

71

Others

37

Supported by robust CRM tools the exceptional relationship management drives customers loyalty

CRM available to all stores telemarketing tool based in propensity to buy

Boomerang telemarketing incentive campaign

Telemarketing during sales downtime ndash average of 500 thousand callsmonthsup1

Return average 5

Telemarketing represents 30 of total income in some stores

Buyback and loyalty increase

CRM Tool

Unique program in the sector recognition and benefits to the most loyal clients

Over 1 million clients 5 of total 20 of total income

Golden clients usually spend 50 more than regular ones

Golden day stores opened exclusively for program clients with memorable experiences and purchasing differentials

Golden Client

1) Data referrers to 2012

bull Base 30 million clients ndash 30 actives

38

Magazine Luiza clients are mainly from ldquoC D and E classesrdquo

Millions of clients ndash South Southeast and Mid-West1

1) Do not include Lojas do Bauacute and Lojas Maia database

+20

20112010200920082007

CDE ClassesAB Classes

14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams

624 stores in 16 states 106 stores in 4 states

82 million page views

Free-standing stores or in malls

Physical showroom and in-store

stock

Size

bull Free-standing 700msup2

bull Shopping 1000msup2

Small or mid-sized cities

Direct delivery

No physical showroom or stock

Size 150 m2

Sales per m2 is double

conventional store

30000 total SKU s

More than 8 million unique visitors

Constant growth

Same product mix as the Internet

Dedicates sales team

Magazine Luiza is the only truly multi-channel retailer in Brazil

41

Gross revenue growth for conventional and virtual stores was 29 annual rate over the last 4 years

CAGR

Gross Revenue (R$ Bn)

+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02

Convencional StoresVirtual Stores

1H2012

32

3402

42

and the e-commerce is growing above market average influenced by the increase of products mix on the website

CAGR

Gross Revenue (R$ MM)

2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43

Magazine Luizarsquos growth was significantly greater than the market growth in general turning into relevant market-share gains

412 14

19

28

GDP Retail Furniture amp Home Appliance Furniture amp Home Appliance NE Magazine Luiza

330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

InflationSame-store sales

CAGR 2002-2011 Market x Magazine Luiza

Same-store Sales Magazine Luiza vs IPCA

sup1

1) Gross Revenue CAGR of retail operations do not include Luizacred Luizaseg and Consortium revenues

44



and customers

Company







45

CDC Third-party Card Cash Sales Down PaymentLuiza Card

Pioneer in the financial services through Luizacred

bull Financial institution established in 2001 resulted from the partnership between Magazine Luiza and Unibanco (nowadays Itauacute-Unibanco)

bull Consumer finance operations available in every Magazine Luiza store

bull Luizacred finances approximately 50 of Magazine Luizarsquos total sales

bull Credit card base 42 million (2Q12)

bull Products co-branded card (Mastercard) direct credit(CDC) loans and other financial services

bull Another important tool to enhance customer loyalty

bull Itauacute-Unibanco responsible for credit-scoring and funding

Comments50 of sales are made through Luizacred

49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46

hellip and Luizaseg Joint Ventures

Luizaseg significant growth in insurance product sales

bull Joint venture with Cardif since 2005 operates in the massif insurance segment and features on the extended warranty distribution

bull Luizaseg has a complete structure toward client support with staff in stores customer service department exclusive team to take care of customer damages and a wide network of technical assistance for the extended warranty insurances

bull Over 3 thousand accredited workplaces distributed all over the country

bull Featured among the best retailrsquos insurers

bull In 2011 48 million new issued insurances Equivalent to R$ 220 million in prizes 15 growth over the year before

bull R$ 53 million distributed in prizes

bull Over 2 million extended warranty insurances

bull Operation with high cash flow generation and low damage

Comments

Products

47

bull Through the letter of credit system consortium is based on the union between natural or artificial person aiming to participate in a common activity or to pool their resources for achieving a common goal

bull Luiza Consortium distributes furniture household appliance vehicle and service consortium

bull Available in every Magazine Luizarsquos store

bull Over 85 thousand active clients

bull More than 60 authorized commercial representatives

bull Over 220 thousand goods delivered

Comments

hellip and Luiza Consortium

Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10

Household Appliances

Sound amp Image

Tecnology

Furniture amp Kitchen appliance

Others

50

to support changes in consumer behavior (14)

TelevisionSouth Southeast and Mid-west

Units sold ()

91

2011

9

2007

93

7

1) LCD Plasma LED 3D

TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406

Weighed average ticket

R$ 636 R$ 1007

67

2011

33

2007

95

5

51


ComputerSouth Southeast and Mid-west

Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52


Washing MachineSouth Southeast and Mid-west

Units sold ()

52

73

2011

27

2007

48

Washing MachineNortheast

Units sold ()

ldquoTanquinhordquoWashing Machine

R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53


RefrigeratorSouth Southeast and Mid-west

Units sold ()

40

20

2011

80

2007

60

RefrigeratorNortheast

Units sold ()

With freezerWithout freezer

R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54

Evolution of plans and interest rates have also supported those changes

TV LCD 32 Notebook Washing Machine

Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756

InstallmentClass C Minimum Wage

257 61 175 64 101 54

1) Analysis March to June 2007 April 2011Source Flyer Magazine Luiza

Interest Rate 550

Form 0+15

2007

299

2011

Minimum Wage (R$) 38000 54500

Main changesbull Interest rates became more attractive through Luiza Card financingbull Purchase power increased while risk decreased

Class C Minimum Wage (R$) 1140 1635

55



and customers

Company







56

Magazine Vocecirc leading our multi-channel strategy to the highest degree

bullBrazil fourth-largest market

ndash Revenue (2010) R$ 26 bn

bull274 million direct sellers

Source Ibope Ebit Forrester research Magazine Luiza

bull 23 million buyers

bull 465 from ldquoC class

bull Revenue (2011) R$ 20 bn

bull 85 claim to be in a social network

ndash Facebook 30 MM usersndashOrkut 29MM users

bullThe user creates its own store with up to 60 products from Magazine Luiza website (magazineluizacombr) and share the products with its friendsthrough Facebook and Orkut

bull Comission goes from 25 to 45 per product sold in the store

bull No initial investment is required

bullMagazine Luiza is responsible for logistics and payment

Direct Sales E-commerce in Brazil Social Networks

57



and customers

Company





Multiple opportunitiesof growth


58

Source IBGE Company

Excellent organic growth potential

South

109

Southeast

Mid-West

Northeast

North

Multi-channel model with broad geographic reach gives Magazine Luizaadvantage to spot new stores opportunities

Around 240 priority cities for new Magazine Luizastores

240 priority cities for new Magazine Luiza stores

minus 30 will be opened with the Virtual Store Concept

18

56

30

28

59

hellip and multiples opportunities to grow all over the country

Organic Growth

bull Increase presence where

currently operating

especially the northeast

and Greater Satildeo Paulo

bull 33 of the stores have

not reached their

maturity

bull Remodel to increase

same store sales

Industry Consolidation

bull MampA potential with high

industry fragmentation ndash

more than 50 of the

industry is in the hands of

small companies

Relevant Growth of Virtual

Channels

bull Amount of virtual store and

internet sales above market

growthIncrease Share of Financial

Products

bull Over 4 million clients

have a Luiza credit card ndash

fidelity potential

bull Penetration of Luizacred

in Lojas Maia sales

60



and customers

Company





Multiple growth opportunities


61

Key Financial Indicators - Historical Evolution

Integration Process ndash Lojas do Bauacute and Lojas Maia

Latest release ndash 2Q12

62

Net Income Evolution (R$ million)

849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802

LuizaCredRetail LuizaSeg Consortium Eliminations Inter-Company

63

Gross Profit Evolution (R$ million)

261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335

LuizaCredRetail LuizaSeg Consortium Eliminations Inter-Company Gross Margin

64

Adjusted EBITDA Evolution (R$ million)

54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43

LuizaCredRetail LuizaSeg Consortium Eliminations Inter-Company EBITDA Margin

65

Adjusted Net Profit Evolution (R$ million)

22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05

LuizaCredRetail LuizaSeg Consortium Eliminations Inter-Company Net Margin

66

Key Financial Indicator - Historical Evolution


Latest Release ndash 2Q12

67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights

Financial Performance

Operational Performance

Expectations for the Next Quarters

71

Highlights of 2Q12

Initiatives and Achievements Impacts on Financial Results

Significant sales growth versus 2Q11bull Total sales growth of 216bull Same store sales growth of 130

o E-commerce growth of 450 o Physical stores sales growth of 90

Sustainable growthbull Consolidated gross margin evolution ndash 335 over net

revenueso Increased by 07pp over 2Q11 o Increased by 17pp over 1Q12

bull Financial discipline ( limited sales with no interest)bull Conservative credit approval rate

Continuation of Lojas Maia integration processbull Corporate merger ndash April 30th

bull Systems integration ndash began in 2Q12

Reduction and Rationalization of Costs and Expensesbull Rationalization of costs and expenses program ndash

Companyrsquos main focus in 2012bull 06pp reduction on SGampA expenses of retail segment

o 247 of net revenues versus 253 in 2Q11

Investments in infrastructure and expansionbull Total investments R$351 million

o 1 new conventional store inaugurated in the Northeast

o Stores remodelingo Investments in IT and Logistics (concluded the

expansion of Louveira distribution center)

Extraordinary expenses - integrationbull Totaled only R$33 million (as expected)

Luizacred resultsbull Improved overdue indicatorsbull Maintenance of conservative approach

o Reduction of credit approval rateo Substantial provisions for loan losses

bull Participation in the rationalization of costs and expenses program

Magazine Luiza resultsbull Results in line with budget despite the slowdown in

the economy activityo Sustainable growtho Program of rationalization of costs and expenses

bull Positive results ndash retail and consolidated business

72

2Q12 Highlights




73

Gross Revenues (R$ billion)

Retail

Consolidated

11

of growth over the same quarter of 2011

1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32

bull 197 growth in the retail segment versus 2Q11 and 130 same store sales growth driven by

mdash Stores maturation

mdash Increased productivity in renovated stores

mdash Accelerated growth in the Northeast (R$301 million ndash 154 of total retail sales)

bull 223 growth in the retail segment versus 1H11

bull 216 growth in the consolidated gross revenues versus 2Q11

mdash 445 growth in revenues from the consumer financing segment (chiefly influenced by the increase in service revenues direct credit to consumer and personal loans at Luizacred)

bull Increase in store count ndash from 613 in the end of 2Q11 to 731 stores in the end of 2Q12

Comments

223197

of growth over the same half of 2011

1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74

Gross Revenues ndash Internet (R$ million)

1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740

bull Internet sales climbed 450 in 2Q12 versus2Q11 and 439 versus 1H11 influenced by

mdash Increase in product mix

mdash Innovations in content

mdash Multi-channel approach infrastructure shared with other channels

CommentsInternet

439450

of growth over the same quarter of 2011 of growth over the same half of 2011

428

75

Net Revenues and Gross Profit (R$ billion)

332 328 330 318 335

Gross Margin ()

bull Strong growth due to advancement of gross revenues (retail segment and consumer finance)

bull Net revenues growth outpaced gross revenues growth ndash higher volume of products subject to tax substitution (booked under COGS)

CommentsNet Revenues - Consolidated

bull Improve of 07 of gross margin in 2Q12 versus 2Q11 and 17 versus 1Q12 due to

mdash Increase in gross margin from the consumer finance (Luizacred)

mdash Slight decrease in retail segment margin (higher share of Internet sales integration of Lojas Maia and AVP adjustments)

bull Gross margin in the Northeast from 212 in 1Q12 to 250 in 2Q12

Comments

327

Gross Profit - Consolidated

1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76

Operating Expenses ndash Consolidated (R$ million)

Operating Expenses (R$ MM)

bull Reduction of 05 on Sales General and Administrative Expenses versus 2Q11

mdash Adjustments made to storesrsquo expenses in order to increase productivity

mdash Result of the integration of the offices of Bauacute stores and of rationalization of expenses

bull Provisions for Loan Losses

mdash Substantial provisions (Luizacred conservative approach)

bull Other Operating Expenses (Revenues)

mdash See next slide

Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77

Other Operating Expenses (Revenues) ndash Consolidated

Other Operating Expenses (Revenues) (R$ MM)


mdash Deferred revenues

o Reduction in the booking of deferred revenues (straight-line method)

o In 2Q12 other deferred revenues of R$180 million (R$105 million from the retail segment and R$75 million from Luizacred) ndash renewal of the Agreement with Cardif

mdash Non-recurring expenses with the integration of the store chains of R$33 million

mdash Change in the booking of personal loans which are now recognized under financial intermediation result thereby reducing revenues from profit sharing from R$175 million to R$41 million

mdash Expenses with the introduction of chips in Luiza cards totaled R$54 million in 2Q12

Comments

17555 243

124

TotalOthersIntroduction of chips in

Luiza Cards

Personal Loans

Integration Expenses

Booking of Deferred Revenues

2Q11

161

238

TotalOthers

32

Introduction of chips in

Luiza Cards

54

Personal Loans

41


33


2Q12

78

bull EBITDA impacted by

mdash Sales and gross profit growth

mdash Non-recurring costs revenues and expenses

mdash Higher provisions for loan losses

EBITDA and Adjusted EBITDA (R$ million)

Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79

Financial Expenses ndash Consolidated (R$ million)

Financial Expenses (R$ MM)

Net Revenue

bull Financial Results

mdash Decline from 29 of net revenue in 2Q11 to 25 in 2Q12

o Positively impacted by the reduction in CDI rate

o Partially offset by the increase in working capital requirements

o Change in the estimated discount rate used in the adjustment to present value of extended warranty operations

o Change in the appropriation of the costs of prepayment of receivables on third-party cards which is now recognized on the date of the discount operation

Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income

Net Income and Adjusted Net Income (R$ million)

2Q11 2Q12

Net Income

09 03 06 -23 12

bull Net Income impacted by


mdash Change in the appropriation of the costs of prepayment of receivables

mdash Changes in accounting practices in the financial result

mdash Non-recurring tax credits

Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54

Net Income Adjusted Income

Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81

Working Capital (R$ millions)

10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58

Working CapitalAccounts receivable

53

58

40

76013

over Gross Revenue of last 12 monthsGross Revenue of last 12 months (R$ MM)

8036667513 72288

36 48

47

48

84133

64

56

82

Investments (R$ millions)

115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154

bull Stores remodeling

bull New stores (inaugurated and to be) ndash 1 new conventional store inaugurated in the Northeast

bull Other investments include the conclusion of expansion of the Louveira distribution center and other investments in logistics which totaled R$96 million in 2Q12

CommentsInvestments

OthersInfrastructureStore RefitNew Stores

83

Net Debt (R$ millions)

Net Debt adjusted EBITDA

20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851

Net Debt ndash Long Term

Net Debt ndash Short Term

04x 11x 12x 20x

Jun-11 Mar-12Sep-11 Dec-11 Jun-12

22x

84

2Q12 Highlights




85

Operational Performance ndash Stores

Number of Stores (unit) Same Store Sales Growth ()

69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543

Conventional StoresVirtual Stores

2Q11

394

144113

2Q12

Same Stores Sale Growth - Physical StoresSame Store Sales Growth (includes e-commerce)

Total Retail Growth

19713090

Average Age ndash Stores

More than 3 years453

2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86

Operational Performance ndash Luizacred

Financed Mix Sales () Luizacredrsquos Revenues (R$ MM)

293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan

Luiza Card - Inside Luiza Stores

Luiza Card - Outside Luiza Stores

11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC

Third Party Credit Card

Cash SalesDown Payment

87

Operational Performance ndash Portfoliorsquos composition

Luiza Card ndash Total Credit Card Base (MM) Portfolio (R$ MM)

42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126

CDC Credit cardPersonal Loans

88

Luizacred Portfolio ( of portfolio)

bull Differently from the market in general the portfoliorsquos overdue indicators continue to improve both in relation to the previous year and the previous quarter due to

mdash Conservative approach in the credit approval rate

mdash Constant control of delinquency per store

bull Coverage index increased in 2Q12

bull Provisions should be proportionally lower in 2H12

CommentsPortfolio Overdue

116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43

Overdue above 90 daysOverdue 15-90 days Total overdue

112 111 114 111 117

Coverage Ratio()

89

MLrsquos versus Brazilrsquos Default Rate

2

5

8

11

jan10 apr10 jul10 oct10 jan11 apr11 jul11 oct11 jan12 apr12

2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64

Magazine Luizarsquos Default Rates

Magazine Luizarsquos x Brazilrsquos Default Rates 15 to 90 days

Fonte BCBBrazil 15 to 90 dayssup1 ML 15 to 90 daysML above 90 daysML total

90

2Q12 Highlights




91

Expectations for the next quarters

Sales Growth

Consistent sales growth

bull Maturation of new stores

bull Northeast stores growth

bull Internet

bull Better performance by the Brazilian economy especially in 4Q12

Lojas Maia Integration Process

Integration of Lojas Maiarsquos systems ndash conclusion oct12

Fully integrated management ndash 2013

bull Dilution of administrative and logistics expenses

bull Benefits to working capital and price management ndash increasing the gross margin

Investments

Investments in technology logistics and store remodeling which includes changing the Lojas Maia brand to Magazine Luiza

The Company plans the organic opening of 17 more stores in 2H12 10 of them in the Northeast

Results

Continuality of cost and expense reduction and rationalization program

Capture of synergies from the integration of Lojas do Bauacute and Lojas Maia

Better productivity indicators and positive results in 2012

1

2

3

4

92

Investor Relationsrimagazineluizacombrwwwmagazineluizacombrir

Any statement made in this presentation referring to the Companyrsquos business outlook projections and financial and operating goals representbeliefs expectations about the future of the business as well as assumptions of Magazine Luizarsquos management and are solely based oninformation currently available to the Company Future considerations are not a guarantee of performance These involve risks uncertainties andassumptions since they refer to forward-looking events and therefore depend on circumstances that may not occur These forward-lookingstatements depend substantially on the approvals and other necessary procedures for the projects market conditions and performance of theBrazilian economy the sector and international markets and hence are subject to change without prior notice Thus it is important to understandthat such changes in conditions as well as other operating factors may affect the Companyrsquos future results and lead to outcomes that may bematerially different from those expressed in such future considerations This presentation also includes accounting data and non-accounting datasuch as operating pro forma financial data and projections based on the Managementrsquos expectations Non-accounting data has not beenreviewed by the Companyrsquos independent auditors

Legal Disclaimer

93October 2012


2




bull Magazine Luiza

3










1

4



Retail GDP


5





6



North

Mid-west

South

Southeast

Northeast


7




RetailDurable goods


8



tools)



and customers






2

9












(still not mature)











3

10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


3










1

4



Retail GDP


5





6



North

Mid-west

South

Southeast

Northeast


7




RetailDurable goods


8



tools)



and customers






2

9












(still not mature)











3

10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


4



Retail GDP


5





6



North

Mid-west

South

Southeast

Northeast


7




RetailDurable goods


8



tools)



and customers






2

9












(still not mature)











3

10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


5





6



North

Mid-west

South

Southeast

Northeast


7




RetailDurable goods


8



tools)



and customers






2

9












(still not mature)











3

10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


6



North

Mid-west

South

Southeast

Northeast


7




RetailDurable goods


8



tools)



and customers






2

9












(still not mature)











3

10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


7




RetailDurable goods


8



tools)



and customers






2

9












(still not mature)











3

10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


8



tools)



and customers






2

9












(still not mature)











3

10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


9












(still not mature)











3

10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


10


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


3

11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


11


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


3

12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


12




operations)
















3

13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


13

















2013

4

14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


14




bull Magazine Luiza

15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


15




bull Magazine Luiza

16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


16



44474143

3770

323930322661

236921471941

GDP (R$ Billion)

11

57

3240

6152

-03

75

2715

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

1700


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


17





09

1918 19

25

18 18

29

19

10

5

6

7

8

9

10

11

12

13

14

0

05

1

15

2

25

3

2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

Unemployment rate

18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


18

389 390 379407

451477

512542

581603

638

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E

Minimum Wage (R$)


200240 260

300350

380415

465510

545

622

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012



Growth 211

Growth 64

19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


19


A Class

B Class

C Class

D Class

E Class

45 41

175 307

309

338

132

493

151

08

1998 2011


Source IPC TARGET

20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


20




GDPTotal Operations

28 31 35 40 44 45 51 sup2

1

384 418499

607733

936

1227

1414

1706

20302168

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H2012

26 25 26 49

21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


21

0

5

10

15

20

25

30

35

40

45




Debt Burdensup1


155176 177 180 186 197 197

222 219184

220

249

296322

358

395

425 434

mai12

Debt Burden

22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


22



0

5

10

15

20

25

90

110

130

150

170

190


0102030405060708090

100





23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


23


4 7 11 12 1833

5670

6 9 14 21 2347

76 80

2004 2005 2006 2007 2008 2009 2010 2011




113

82

50

15000

200

400

600

800

1000

1200

020406080

100

2010 2014E 2018E 2022E

633690 743

795



Housing Shortage

24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


24




133163

210 198228

130

2007 2008 2009 2010 2011 1S2012


199220

198220

256

98

2007 2008 2009 2010 2011 1S2012

54 62 63 7196

51

2007 2008 2009 2010 2011 1S2012

308

429 414478

572

273

2007 2008 2009 2010 2011 1S2012

25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


25


12

13

35

68

50

93

Air Conditioner

Thin TV Screen

Smartphone

Wash Machine

Computer

2 Door Refrigerator

Percentage ()

Total population

6

7

19

61

39

37

ldquoC classrdquo


1

26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


26

7186

97118

147

173196

225247

2003 2004 2005 2006 2007 2008 2009 2010 2011



61

37

15

39

63

85




CAGR 169 per year

27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


27




bull Magazine Luiza

28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


28



and customers

Company







29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


29













50 10050

679 321


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


30



754

Controllers


879

321

Controllers


186494467 stocks150000000 stocks

124

876

31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


31


CompanyExperience

(years)




industry




Fourrdquo firm




gt40 gt40

Marcelo SilvaCEO

3 34


gt10 gt10


gt10 gt10


gt10 gt10


gt30 gt30

Marcelo Barp (1)

Luizacred4 9

Luis Felipe (1)

Luizaseg6 gt20



32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


32


06 07 0914

19 22 2632

38

53

71

39

111 127174

253

351 346391

444 455

604

728 731

-300

-100

100

300

500

700

900

0

2

4

6

8

10

12

14

16

18

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1H12


Rede Wanel

Lojas Liacuteder

Campinas+20 stores


Madol Killar



Nordeste+136 stores


Bauacute+104 stores

33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


33




Cabedelo

Simotildees Filho



NavegantesCaxias


31

24

731 stores


R$ MM

3238 328

4907 5014

597

1H10 2H10 1H11 2H11 1H12

84

30South

2

Mid-West

20

Northeast

48Southeast

34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


34



1 Petrobras

2 Bradesco

3 Itauacute

4 SKOL

5 Banco do Brasil

First 5

most valuable




6 Natura

7 Brahma

8 Vale

9 Sadia

10 Antartica

11 Vivo

12 Perdigatildeo

13 Lojas Americanas

14 Bohemia

15 Ipiranga

16 OI

17 Casas Bahia

18 Totvs

19 TAM

20 Cielo

21 Multiplus

22 Porto Seguro


25 Redecard

26 Net

27 Extra

28 BMampF

29 Banrisul

30 Hering

36 Anhanguera

37 Amil

38 Lojas Renner

39 MRV

40 Marisa

31 Iguatemi

32 Odontoprev


34 Uniatildeo

35 Embratel

41 Durafloor

42 Arezzo

43 Gerdau

44 Drogasil

45 Swift

46 Havaianas

47 Deca

48 PDG

49 Localiza

50 Riachuelo



35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


35



and customers

Company







36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


36









Price398

370

ServiceCredit

84Product Variety

45


32

Offered Brands

71

Others

37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


37





Return average 5



CRM Tool





Golden Client



38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


38




+20

20112010200920082007


14

10

10

909086

86

14

14

86

108

132

160

189

222

CAGR

39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


39



and customers

Company







40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


40

Trained Teams





stock

Size




Direct delivery


Size 150 m2


conventional store

30000 total SKU s


Constant growth




41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


41


CAGR


+29

2011

63

60

03

2010

48

45

02

2009

35

33

02

2008

30

28

02


1H2012

32

3402

42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


42


CAGR


2395

20112008

1576

20092007 2010

3249

5687

8211

+51

1H2012

5120

43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


43


412 14

19

28


330 311 300243 256

144200

101159 130

21

10

05

2224

1411

1512 11

00

05

10

15

20

25

30

00

50

100

150

200

250

300

350

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12




sup1


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


44



and customers

Company







45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


45











49

3017 13 11 16

1

1934 39

34 23

25 2427 26

3031

25 27 22 22 25 30

2007 2008 2009 2010 2011 1H2012

46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


46











Comments

Products

47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


47







Comments


Products

48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


48



and customers

Company







49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


49


Mix of sales 1H2012

31

24

20

15

10


Sound amp Image

Tecnology


Others

50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


50



Units sold ()

91

2011

9

2007

93

7


TelevisionNortheast

Units sold ()

CRTFlat TV 1

R$ 783 R$ 1406


R$ 636 R$ 1007

67

2011

33

2007

95

5

51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


51



Units sold ()

84

30

2011

70

2007

16

ComputerNortheast

Units sold ()

NotebookDesktop

R$ 1364 R$ 1124


R$ 909 R$ 818

88

47

2011

53

2007

12

52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


52



Units sold ()

52

73

2011

27

2007

48


Units sold ()


R$ 701 R$ 884


R$ 581 R$ 586

43 48

2011

52

2007

57

53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


53



Units sold ()

40

20

2011

80

2007

60


Units sold ()


R$ 1323 R$ 1501


R$ 1139 R$ 1142

64

35

2011

65

2007

36

54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


54



Year 2007 2011 2007 2011 2007 2011

Price (R$) 2947 1187 2002 1246 1159 1046

Installments (R$) 29300 9936 19945 10430 11547 8756


257 61 175 64 101 54


Interest Rate 550

Form 0+15

2007

299

2011




55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


55



and customers

Company







56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


56
















57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


57



and customers

Company







58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


58

Source IBGE Company


South

109

Southeast

Mid-West

Northeast

North





18

56

30

28

59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


59


Organic Growth


currently operating




not reached their

maturity


same store sales




more than 50 of the


small companies


Channels




Products



fidelity potential


in Lojas Maia sales

60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


60



and customers

Company







61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


61




62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


62


849 987

1105

1501 1309 1368

1477

1780 1659 1643

93

95 100

108

117 116

135

161

158 167

14

1415

16

1617

18

18

18 21

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

941

1073

1197

1596

14161473

1603

19281805 1802


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


63


261297

339

451388 403 430

549

457 469

8181

84

88

94 94108

135

132146

1313

14

15

15 1517

17

1719

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

339368

413

521

470 483524

668

574603

360 343 345 326 332 328 327 347 318 335


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


64


54 62

71

92 77

64 76

111

60 73

10

13

27

9

9

9

26

2

(12)

5

2

3

2 2

2

2

2

2

2

2

(5) (8) (6) (8) (9) (8) (8) (9)

(8)

(8)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

64 66 79 59 56 45 59 55 24 41

61

70

9495

7967

94

74

107

43


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


65


22 60 52

132 87

10

190

267

(103)

95 59

79

163 52

46

62

135

(16)

(83)

19 13

16

16

17

15

18

21

20

26

25

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

93

159

231205

149

88

338

277

148

-154

10 15 19 13 06 01 12 14 -06 05


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


66




67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


67


3Q11 4Q11 1Q12 2Q12




Virtual Stores


Stores renovation


Conventional Stores


Stores renovation







End of feb2012

(7 months)



End of dec2011


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


68


4Q11 1Q12 2Q12 3Q12 4Q12 1Q13






Other Regions




14 stores (Oct)

9 stores (Dec)

15 stores (Dec)

Apr2012

Conclusion Oct2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


69




70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


70

2T12 Highlights




71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


71

Highlights of 2Q12























72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


72

2Q12 Highlights




73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


73


Retail

Consolidated

11


1H12

39

2Q12

20

1Q12

20

1H112Q11

16

1Q11

16

32









Comments

223197


1H12

43

2Q12

21

1Q12

21

1H11

34

2Q11

17

1Q11

17

236216

250

257

74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


74


1H12

5120

2Q12

2635

1Q12

2485

1H11

3557

2Q11

1817

1Q11

1740





CommentsInternet

439450


428

75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


75


332 328 330 318 335

Gross Margin ()








Comments

327


1H12

36

2Q12

18

1Q12

18

1H11

29

2Q11

15

1Q11

14

249223

1H12

12

2Q12

06

1Q12

06

1H112Q11

1005

1Q11

05

237250


275

224

76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


76










Comments

-260 -36

Net Revenue

Total

4107

Other Oper

Expenses (Revenues)

243

Provisions

527

SGampA

3824

2Q11

SGampA

884

Total

5313

Other Oper

Expenses (Revenues)

161

Provisions

4590

2Q12

-27917 -255 -49 -29509

77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


77










Comments

17555 243

124


Luiza Cards

Personal Loans



2Q11

161

238

TotalOthers

32


Luiza Cards

54

Personal Loans

41


33


2Q12

78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


78






Margin EBITDA ()

Comments

59 49 54 05 40

EBITDA

23

Adjusted EBITDA

2Q11 2Q12

1H12

812

2Q12

719

1Q12

93

1H11

1559

2Q11

719

1Q11

840

665719

Adjusted EBITDA

Deferred Revenues

54

Extraord Expenses

00

Extraord Costs

00

Current

740719

Adjusted EBITDA

Deferred Revenues

88

Extraord Expenses

33

Extraord Costs

75

Current

49 45 40 41

79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


79



Net Revenue







Comments

2Q12

454

2Q11

424

Financial Expenses

-29 -25

80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


80

Adjusted Net Income


2Q11 2Q12

Net Income

09 03 06 -23 12






Comments

-05

Net Margin ()

1H11

407

1H12

188

2Q12

219

1Q12

169

2Q11

46

1Q11

123

10

46

Extraord Fin

Results

00

Extraord Ops

Results

54


Tax Credits

00

ExtraordTaxes

1895

20721219

ExtraordTaxes

Adjusted Income

Extraord Fin

Results

Tax Credits

43106

Extraord Ops

Results

Net Income

03 01 12 05

81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


81


10068

4700

5368

Mar-12

8899

4222

4677

Dec-11

7483

3073

4410

Sep-11

Jun-12

6909

3460

3449

Jun-11

5597

2411

3186

58


53

58

40

76013


8036667513 72288

36 48

47

48

84133

64

56

82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


82


115

289184 180

151

193

378

11081

75

75

251

65

39

51351

1Q12

432

73

4Q11

976

58

3Q11 2Q12

502

118

2Q11

400

19

154




CommentsInvestments


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


83



20

12

80

82

88

60

18

40

81

19

1291

7055

6094

42003851



04x 11x 12x 20x


22x

84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


84

2Q12 Highlights




85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


85



69

69103 106 106

111

1

2Q12

731

624

1

1Q12

730

623

4Q11

728

624

3Q11

684

614

2Q11

613

543


2Q11

394

144113

2Q12


Total Retail Growth

19713090



2 to 3 years6

1 to 2 years158

Up to 1 year

114

+ 118 stores

86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


86



293

923 1297

150

2085

2Q12

215

450

45

2Q11

1716

572

71

CDC

Personal Loan



11

18

32

23 28

30

37

2Q12

100

22

2Q11

100

Luiza Card

CDC



87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


87



42434442

40

4Q113Q112Q11 2Q121Q12

376

661

2655

2Q12

3442

2668

+29

2292

2Q11

126


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


88








116

10

20

Jun-12

159174

127

47

Dec-11

168

124

44

Sep-11

177

136

41

Jun-11

192

125

67

Mar-12

43


112 111 114 111 117

Coverage Ratio()

89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


89


2

5

8

11


2

5

8

11

14

17

20

23

26


217 220192

245225

209

177 168 174 159

123 129 125133 128 125136 124 127 116

94 91

67

11297 84

41 44 47 43

94 91

67

112

97

84

41 44

4743

53

67

6359 55 53

64 6068 64




90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


90

2Q12 Highlights




91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


91


Sales Growth




bull Internet







Investments



Results




1

2

3

4

92



Legal Disclaimer

93October 2012


92



Legal Disclaimer

93October 2012


93October 2012


Documents

Non deal road show – ny & mid atlantic