4Q13 Earnings Release February 28, 2014
2
Disclaimer
This notice may contain estimates for future events. These estimates merely reflect the expectations of the Company’s management, and involve risks and uncertainties. The Company is not responsible for investment operations or decisions taken based on information contained in this communication. These estimates are subject to changes without prior notice. This material has been prepared by Multiplus S.A. (“Multiplus“ or the “Company”) includes certain forward-looking statements that are based principally on Multiplus’ current expectations and on projections of future events and financial trends that currently affect or might affect Multiplus’ business, and are not guarantees of future performance. They are based on management’s expectations that involve a number of business risks and uncertainties, any of each could cause actual financial condition and results of operations to differ materially from those set out in Multiplus’ forward-looking statements. Multiplus undertakes no obligation to publicly update or revise any forward looking statements. This material is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise it does not give and should not be treated as giving investment advice. It has no regard to the specific investment objectives, financial situation or particular needs of any recipient. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment.
2013 Highlights
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growth in net revenue vs 2012
growth in Gross Billings vs 2012 reaching R$ 2.0 bln
11.9%
million in net income 4% growth vs 2012
R$ 232.1
9.2 %
7.4%
growth in non-air redemptions vs 5.7% in 2012
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369 383
446 466 472
50
100
150
200
250
300
350
400
450
500
4Q12 1Q13 2Q13 3Q13 4Q13
We reached 472 partners (coalition, accrual and redemption)
More than 12.2 million members
10.9 11.3
11.6 11.9
12.2
4Q12 1Q13 2Q13 3Q13 4Q13
Members, in mln
Network growth
NOTE: SMEs refers to small and medium sized enterprises
Adding new partners with outstanding players
5
Travel website
Toy store
Accessories
Sports e-commerce
Car dealer
Car rental
Supermarket
Decoration goods
Publisher
6
1,6 billions points accrued
Until 70% Off with partners like
Pontofrio.com and Pepper
148 millions points redeemed
Black Week Campaign 2013
7
New products launch
Points Purchase
Points Renovation Released in January /2014
Best content management
Tracking
Segmented offers
Social networks integration
Wish List
Gift List
More simplicity for the implementation of new stores
8
Advantages
Improve member experience:
New e-commerce
8
9
A new relationship tool between Multiplus
and members
* Position on 12/20/2013 in Apple Store Brasil. Source : iTunes
100 THOUSAND DOWNLOADS
*
* POSITION IN
RANK TRAVEL
th
st
10
Gross Billings growth
R$ 2.0 bln in Gross Billings
492.0 492.1 500.9
536.1
479.9
4Q2 1Q13 2Q13 3Q13 4Q13
1.87 2.01
2012 2013
R$ mln R$ bln
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Net Revenue
430.9
373.4
398.6
470.9
408.0
19.4 15.9 16.4
20.5
16.8
4Q12 1Q13 2Q13 3Q13 4Q13
Net Revenue Points Redeemed
R$ 1.65 bln in Net Revenue 2013
R$ mln & bln points
1.48
1.65
65.9
69.6
2012 2013
R$ bln
12
Gradual breakage decline besides non-air
redemptions increase
Breakage rate:
gradual decline as expected 12 months average, in %
21.0% 19.9% 19.6% 19.1% 18.5%
4Q12 1Q13 2Q13 3Q13 4Q13
Non-air redemptions maintains a strong level in 4Q13
0.6% 1.5%
2.6% 2.9%
4.0% 4.3%
6.3% 6.4%
5.3%
7.0%
13.9%
9.3%
Non-air redemptions, in %
Punctual promotion
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Cash generation
R$ 452.6 mln in FCF *
79.0 84.0
88.9
135.9
72.5
4Q12 1Q13 2Q13 3Q13 4Q13
RS mln
418.1
452.6
2012 2013
*Excluding Dividends, Interest on Capital and variations of Prepaid Expenses and Capital (4Q12 and 1Q13 are adjusted with R$ 71.3 of anticipated settlement in Accounts Payable)
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Net income
R$ 232.3 mln in Net Income
52.9
46.8
57.4 62.2
65.8
4Q12 1Q13 2Q13 3Q13 4Q13
R$ mln
224.3
232.3
2012 2013
Thank you! Contact IR Team +55 11 5105-1847 [email protected] www.pontosmultiplus.com.br/ir
Ronald Domingues Ivan Bonfanti Filipe Scalco
Fernanda Camiña