28/10/2010 09:31 skiron\Roadshow\Presentación Roadshow Script 2.ppt

1

2

Forward Looking Statements

This presentation contains, or may be deemed to contain, “forward-looking statements”. By

their nature, forward looking statements involve risks and uncertainties because they relate to

events and depend on circumstances that may or may not occur in the future. The future

results of Grupo Famsa may vary from the results expressed in, or implied by, the forward-

looking statements made to you, possibly to a material degree.

3

Agenda

4Operating and Financial Results 3Q10

4Famsa Mexico

4Banco Ahorro Famsa

4Famsa USA

4Consolidated Financial Results 3Q10

4Q & A

4

Executive Summary – 3Q10

1. Famsa Mexico’s sales decelerated temporarily mainly due to the effects of Hurricane ‘Alex’ and heavy rainfall throughout the country (Jul-Aug)

2. Famsa Mexico’s recovery continues gaining strength; demand for core durable good categories is improving (e.g. Furniture, Motorcycles, etc.)

3. Banco Ahorro Famsa maintains a solid capitalization index (>13%), steady deposit growth (Q-o-Q: 6.8%), and low cost of funding (6.3%)

4. During the month of September 2010, Famsa USA achieved positive sales growth for the first time in more than 12 monthsUSA

MX

MX

5

Temporary effects pressured Famsa Mexico’s 3Q10 sales growth, but recovery remains on-track

100% 100%

26.2% 28.3%

10.5% 12.4%

11.8%12.1%

13.1% 10.6%

10.5% 10.5%5.2% 5.9%

22.6% 20.0%

3Q09 3Q10

$8,061$7,693

$2,822$2,816

3Q09 3Q10 Jan-Sep 09 Jan-Sep 10

% o

fSal

es

Peso

s (M

illio

ns)

Total Sales: +4.8%SSS: +5.4%

Total Sales: +0.2%SSS: +0.7%

Famsa Mexico: %Share of Sales by Product Category

Famsa Mexico: Net Sales

Others

Mobile Phones

Personal Loans

Electronics

Appliances

Furniture

Computers

Positive growth categories

6

Motorcycles

Famsa MX has successfully reactivated/enhanced demand in core durable good categories

Introduction of proprietary brand: KURAZAISpecialized sales forceAttractive exhibitors (+220 stores)Introductory advertising campaign

3Q10 sales: 1,000 units/month (vs. 190 3Q09)

Furniture

3Q10 sales: first quarterly sales growth since 1Q08

New styles / assortmentAppealing showroom exhibitionTargeted promotions

ComputersSpecialized promoters per brandInteractive exhibitors (+50 stores)Cross-product promotions

3Q10 sales: +10% growth in the last twelve months

7

Banco Ahorro Famsa maintains low cost of funding, steady deposit growth, and solid capitalization index

$1,055 $1,496$2,926

$3,601$4,512

$5,644$5,881

$190

$4,664$4,400

$4,030

6.3%6.3%

7.3%

8.1%8.4%

3Q09 4Q09 1Q10 2Q10 3Q10

$8,542

13.5%

123.8%

14.3%

12.5%

Banco Ahorro Famsa

13.0%

114.7%

18.1%

18.1%

Coppel

88.5%

272.4%

8.8%

2.5%

WalMart

113.7%184.2%Consump. “ICOR”(2)

15.1%

6.7%

5.3%

Azteca

Competitors

5.0%Consump. “IMOR”

2.6%Total “IMOR”(1)

17.7%Capitaliz. Index(4)

FinancialSystemIndicator

(a)

(a) $3,890 correspond to time deposits with optional availabilitySource: Banco Ahorro Famsa

Demand deposits Time deposits Financial intermediaries

Average cost of funding

Banco Ahorro Famsa: Total Funding and Average Cost of Funding

Peso

s (M

illio

ns)

Mexico: Financial System Indicators (August 2010)

(1) IMOR: NPLs / Total Loans(2) ICOR: Reserves / NPLs(3) EPRC/CT: Reserves / Total Loans(4) August 2010, except “Financial System” (May-2010)Source: CNBV, www.cnbv.gob.mx

8

BAF has made substantial progress incursioning into business financing – MiPYME (Micro, Pequeña y Mediana Empresa)

MiPYME BAF: Advantages

$45

$702

'Dic 2009 'Sep 2010

MiPYME BAF: Accounts Receivable

Credit risk diversification

Supporting productive activities

Enhanced banking value offer

Complementary to consumer financing

MiPYME BAF: Advertising and Stand-alone Banking Branches ( 7 )

Source: Banco Ahorro Famsa

9

-30%

-20%

-10%

0%

2Q09 3Q09 4Q09 1Q10 2Q10 3Q10

Famsa USA: Same store sales growth Famsa USA: Monthly sales growth

Famsa USA reaffirmed its recovery trend; Sept. andfirst half of Oct. achieved positive sales growth

-9.2%

-20%

-10%

0%

10%

'JUL-10 'AUG-10 'SEP-10 'OCT. 15,2010

-24.3%

+5.7%

10

$2,397

$3,093

$806$910

3Q09 3Q10 Jan-Sep 09 Jan-Sep 10

100% 100%

33.7%41.5%

39.2% 28.6%

10.8%9.9%

8.3%9.2%

4.3%3.8%

3.7% 7.0%

3Q09 3Q10

% o

f Sal

es

Peso

s (M

illio

ns)

Sales: -11.4% (MXN)Sales: -7.8% (USD)SSS: -9.2% (USD)

Famsa USA: Net Sales

Sales: -22.5% (MXN)Sales: -16.3% (USD)SSS: -17.0% (USD)

Famsa USA: % Share of Sales by Product Category

Electronics

Furniture

Famsa to FamsaAppliances

Others

Computers

Pressure over USA sales is gradually giving way; Furniture is the first core category with 2010 growth

11

-0.7%

28151

356407

3Q10

0011

Closures4071Stores

101

Openings

280Banco Ahorro Famsa51Famsa USA

356Famsa Mexico

2Q10

407410

3Q09 3Q10

-0.8%

537.4541.5

3Q09 3Q10

Stores in MX and USA remained unchangedthrough 3Q10; one opening offset by one closure

Num

ber o

f sto

res

M2

(Tho

usan

ds)

Total Stores Total Retail Area

Breakdown of Store Closures and Store Openings (3Q10)

12

Agenda

4Operating and Financial Results 3Q10

4Famsa Mexico

4Banco Ahorro Famsa

4Famsa USA

4Consolidated Financial Results 3Q10

4Q & A

13

13% 19%19% 18%

22% 18%

12% 12%8% 9%4% 4%

22% 21%

Jan-Sep 09 Jan-Sep 10

% o

f Sal

es

OthersClothingMobile Phones

Electronics

Appliances

FurniturePeso

s (M

illio

ns)

% o

f Sal

es

Personal Loans

Famsa Mexico

Famsa USA

3Q09 3Q10 Jan-Sep 09 Jan-Sep 10

29% 23%

77%71%

Jan-Sep 09 Jan-Sep 10

Consolidated Net Sales Consolidated Product Mix

Famsa USA: Share of Consolidated Net SalesSame Store Sales (%)

Net Sales

MX

USA$3,717 $3,663

$10,772 $10,522

-1.5%

-2.3%

-17.0%-9.2%Famsa USA

+5.4%+0.7%Famsa Mexico

+0.2%-0.6%Total

20103Q10

14

$552

$311

$196$199

3Q09 3Q10 Jan-Sep 09 Jan-Sep 103Q09 3Q10 Jan-Sep 09 Jan-Sep 10

+57.9%

Peso

s (M

illio

ns)

$5,387$5,431

$1,935$1,910

3Q09 3Q10 Jan-Sep 09 Jan-Sep 10 3Q09 3Q10 Jan-Sep 09 Jan-Sep 10

MX

USA

-12.2%

Profitability

Gross Income EBITDA

Net IncomeComprehensive Financing Expense

Exchange loss (gain)

Net interestexpense

$190 $300

$906$795

+1.3%

51.4% 52.8% 50.4% 51.2%

-0.8%

+2.2%$471 $481

$1,164$1,156

-0.7%

12.7% 13.1% 10.8% 11.0%

-1.7%

+77.1%

5.4% 5.3% 2.9% 5.2%

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$5,102$3,685

$11,361$8,708

2009 2010

+1.2%

Peso

s (M

illio

ns)

BankDeposits

Net Debt

$2,112$2,086

2009 2010

$2,494

$3,273

$8,542$6,889

2009 2010

$8,860$8,775

2009 2010

BAF

FAMSA

5.8% 6.4% % Uncollectible/ Accounts

Receivable

Main Balance Sheet Accounts

Trade Accounts Receivable Inventories

Net Debt and Bank Deposits Stockholder’s Equity

+9.0%$13,809$15,045

+25.9%

$9,383

$11,815 +1.0%

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Agenda

4Operating and Financial Results 3Q10

4Famsa Mexico

4Banco Ahorro Famsa

4Famsa USA

4Consolidated Financial Results 3Q10

4Q & A