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4Q15 Earnings Presentation
2
Highlights…………………….………….….............. 3
Agenda
Famsa Mexico……..………………………. 6
Banco Famsa..…………………….......... 7
Famsa USA……………………………….. 11
Financial Position Items..………...…........... 12
Consolidated Results………..………………. 4
1
2
3
4
5
6
4Q15
2016 Guidance….……………………………..…….. 137
3 1. Highlights
Marketing 1
Double-digit growth in Consolidated Net Sales
of 13.5% YoY during 4Q15
Solid increase in Consolidated EBITDA of 29.7%
YoY, reaching Ps.459 million in 4Q15
Full-year 2015 Consolidated results were higher than our announced Guidance
2015MX
Sequential improvement in NPL, recording a
9.8% ratio as of year-end, a decrease of 440 bps.
vs. 2014 (14.2%)
Bank deposits posted a significant growth of
24.5% YoY as of December 31, 2015, reaching
Ps.18,359 million
USA
Continued growth trend in Net Sales,
increasing by 12.4% YoY in 4Q15
Personal Loans, Motorcycles and Electronics
continued fueling growth in 4Q15
MXP denominated SSS of Famsa USA increased
by 23.6% YoY in 4Q15
Personal Loans and Famsa-to-Famsa Sales
performed as top drivers, recording a YoY
growth in 4Q15 of 36.0 and 38.2%, in US$,
respectively
F O U R T H Q U AR T E R
4
16.5% 17.4%
18.0% 17.3%
14.9%14.6%
13.4%12.6%
10.6%9.8%5.2%5.3%6.3%4.4%15.1%
18.6%4,392 4,983
4Q14 4Q15
20.1% 18.7%
15.8% 16.4%
13.3% 11.7%13.1% 13.0%10.6%
10.0%6.0%5.8%5.4%3.9%15.7%20.6%
14,856 16,605
2014 2015
Others
Computers
Motorcycles
Mobile Phones
Appliances
Electronics
Furniture
Personal Loans
2. Consolidated Results
5.2%
2.4% 2.4%
-2.3%
-1.1%
-1.1%
6.3%
8.8%
7.1%
10.0%
8.1%
3Q
13
4Q
13
1Q
14
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
FAMSA
ANTAD
Business-units Retail-area
Net Sales by product mix
Same Store Sales (SSS)
Net Sales by country(Millions of MXP)
89.0% 88.0%
11.0%12.0%4,3914,983
4Q14 4Q15
88.2% 87.2%
11.8%12.8%14,856
16,605
2014 2015
Famsa USA
Famsa MX
13.5%
11.8%
Net Sales recorded a double-digit annual growth rate as we strengthened our sales mix
(Millions of MXP)
439 449
64 6641 41
553 566
2014-m2* 2015-m2*
To be converted branches
Banking branches
PL USA Branches
Stores USA
Stores MX
370 377
25 2615 28
401 400
102 88913 919
2014-U. 2015-U.
0.7%2.3%
*m2 in thousands.
5
219352
1,023
1,331
4Q14 4Q15 2014 2015
USA
MX
354 459
1,442 1,775
4Q14 4Q15 2014 2015
USA
MX
9.7%
10.7%
1,839 2,174
6,7917,696
4Q14 4Q15 2014 2015
USA
MX
2. Consolidated Results
Operating Income
45.7%
Gross Profit
Financial expenses, netEBITDA
46.3%
18.2%
13.3%
29.7%
23.1%
60.6%
30.1%
6.9% 5.4%
6.1%
7.3
8.1% 9.2%
33.9%
-11.3%
Our 4Q15 results show solid growth in Operating Income and EBITDA
41.9% 43.6%
(Millions of MXP) (Millions of MXP)
(Millions of MXP)(Millions of MXP)
127 212
691 751 178 59
215
462
4Q14 4Q15 2014 2015
FX loss
NetInterest305 270
906
1,213
5.0% 7.1%
6.9%
8.0%
6 3. Famsa Mexico
6.7%3.8%
-2.8%-5.7% -1.5%-1.4%
7.5%10.0%
8.0%
11.5%
3Q
13
4Q
13
1Q
14
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
Same Store Sales (SSS)
Sales by product mix
17.6% 18.5%
13.6% 12.8%14.7% 14.8%11.9%
11.2%13.9%
12.4%5.8%6.0%6.4%4.6%16.1%19.9%
3,8754,355
4Q14 4Q15
Sales growth by product category (4Q15)
21.9% 20.1%
13.2% 13.1%
12.9% 11.4%
12.0% 11.4%11.2% 11.2%6.8% 6.6%5.4%
4.0%16.6%
22.2%13,008
14,373
2014 2015
Others
Computers
Motorcycles
Furniture
Mobile Phones
Electronics
Appliances
Personal Loans
12.4%
10.5%
Personal Loans and Motorcycles posted strong growth in 4Q15
(Millions of MXP)
-20%-15%-10%-5%0%5%
10%15%20%
Co
mp
ute
rs
Fu
rnit
ure
Ap
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Mo
bile
Ph
on
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Ele
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on
ics
Mo
torc
yc
les
Pe
rso
nal
Lo
an
s
7 4. Banco Famsa
Our bank deposits base grew by 24.5% YoY, reaching Ps.18,359 million as of year-end 2015
Demand deposits
11%
Opnl Availability
17%
Time Deposits
72%
4Q14
Demand deposits
10%
Opnl Availability
19%
Time Deposits
71%
4Q15
Bank Deposits Mix
Famsa card, credit cards,
microcredits, SMEs,
Fovisste, enterprises,
Credinero and Prendinero
Deposits
e-Banking, ATMs,
payroll, TPVs,
remittances, money
orders and insurance
Savings,
payroll, checks
and
investments
Services
Loans
Bank Deposits24.5%(Millions of MXP)
14,752 15,491 15,70716,500
18,359
4Q14 1Q15 2Q15 3Q15 4Q15
4.7%4.4% 4.4% 4.2% 4.1%
8 4. Banco Famsa
15.1% 15.7%17.6%
16.2%14.2%
13.3%11.9%
10.4% 9.8%
De
c´1
3
Ma
r'14
Ju
n'1
4
Sep
'14
Dec'1
4
Ma
r'15
Ju
n'1
5
Sep
'15
Dec'1
5
Non-performing Loans Ratio (NPL)**
*Gross Balance
**Includes credits discounted by payroll
Source: Banco Famsa
Portfolio of Loans*
The NPL continued its sequential stabilization trend, falling to 9.8% as of December, 2015
15,266 15,506 15,74716,405
17,215
4Q14 1Q15 2Q15 3Q15 4Q15
12.8%(Millions of MXP)
Consumer82%
Commercial18%
4Q14
Consumer77%
Commercial23%
4Q15
Portfolio of Loans Mix
9 4. Banco Famsa
Our Commercial Loans Portfolio rose by 37.7% YoY for the full-year 2015.
Microcredits SMEs Enterprises
#-Loans 4,844 277 91
Avg.
Loan*
Ps.18,000 1.3 MMxp $29.1 MMxp
Avg.
Term
23 months 37 months 38 months
Avg.
Rate
64.0% 10.43% 7.96%
Guarantees No Guarantor/Solidary
Obligor/Nafin
Guarantor/ Solidary
Obligor/Nafin
Source: Grupo Famsa, Banco Famsa
SME´s10%
Microcredits3%
Corporate69%
Others18%
4Q15
Commercial Loans Portfolio Mix
SME´s 16%
Microcredits 3%
Corporate 52%
Financial Inst.5%
Others 24%
4Q14
(Millions of MXP)
2,912
3,492 3,5093,873
4,009
4Q14 1Q15 2Q15 3Q15 4Q15
Commercial Loans Portfolio
37.7%
10 4. Banco Famsa
1
2
3
6
5
4
Deployment of diverse campaigns to
expand our current base of deposits
through greater advertising of our
attractive yields of return
Enhancement of our technological
and human platform with state-of-
the-art software and better
backoffice procedures
Platform enhancement
Higher share of SME loans and
enhancement of retail loans
profile
Portfolio management
Greater use of filters and tools
(credit bureau, investigation, data
bases, etc.) to achieve an adequate
credit risk profile
Control in origination
Greater deployment of collectors
and process enhancement in the
execution of guarantees and the
selection of guarantors
Better collection
Wider portfolio (insurance, e-Banking,
money orders, etc.) to obtain higher
sales
Upsaleof services
Base of deposits
The punctual execution of these strategies is oriented to
maximize Banco Famsa’s potential by taking advantage
of Grupo Famsa’s positioning and brand awareness in its
legacy retail business.
We have defined a clear and concise strategy to strengthen Banco Famsa’s operation and profits
11
-3.7%-7.0%
2.4%1.3%
4.0%
1.0%
0.4%2.7%
3.4%1.3%
3Q
13
4Q
13
1Q
14
2Q
14
3Q
14
4Q
14
1Q
15
2Q
15
3Q
15
4Q
15
5. Famsa USA
Same Store Sales (SSS)*
51.3%53.0%
16.6%
13.5%11.8%
11.3%7.3%
9.8%5.4%
3.1%3.6%
4.9%3.9%
4.4%484
598
4Q14 4Q15
Sales by product mix Sales growth by product category (4Q15)*
50.6%51.5%
16.7%
14.4%12.6%
12.4%6.8%
8.6%4.9%
3.3%
3.6%
4.6%
4.6%
5.1%
1,749
2,121
2014 2015
Others
Famsa to Famsa
Computers
Personal Loans
Appliances
Electronics
Furniture
F to F
23.6%
21.3%
Personal Loans and Famsa-to-Famsa Sales performed as the top drivers of growth
*% variations are referenced to figures in US dollars.
(Millions of MXP)
-45%
-30%
-15%
0%
15%
30%
45%
Co
mp
ute
rs
Ele
ctr
on
ics
Ap
plian
ces
Fu
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ure
Pe
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nal
Lo
an
s
Fa
ms
a t
oF
am
sa
12
14,75218,359
5,938
6,90420,690
25,263
4Q14 4Q15
Net debt
Bank deposits
2,1212,456
4Q14 4Q15
18,386 20,975
2,9124,0092,1052,75623,402
27,739
4Q14 4Q15
Consumer USA
Commercial MX
Consumer MX
6. Financial Position Items
Net debt & bank deposits
-4.7%
5.7%
1.2%2.8%
Trade receivables
Inventories Stockholders’ equity
11.6%
2.8%
10,280 10,680
4Q14 4Q15
+18.5% +22.1%
+15.8%+3.9%
4Q15 trade receivables rose in tandem with Net Sales growth
(Millions of MXP) (Millions of MXP)
(Millions of MXP) (Millions of MXP)
13 7. 2016 Guidance
2016 E
Stores 7
Famsa Mexico 7
Banking Branches1 7
2015 2016 E
Consolidated Net Sales $16,605 $17,600 - $18,100
∆% YOY Growth 6.0% - 9.0%
∆% YOY Growth in SSS
Famsa Mexico 9.7% 5.0% - 8.0%
Famsa USA (USD) 1.9% 3.0% - 5.0%
Consolidated EBITDA $1,775 $2,000 - $2,100
∆% YOY Growth 12.7% - 18.3%
EBITDA Margin 10.7% 11.4% - 11.6%
Improvement of profitability in Mexico and the US, maximizing performance and cash flow generation
Operating ResultsOpenings of Stores and Banking Branches(Millions of MXP)
1Including banking branches installed within new Famsa Mexico
stores
14 Note on 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, S.A.B. de C.V. and its subsidiaries may differ from the results expressed in, or
implied by, the forward-looking statements set out herein, possibly to a material degree.
15
Investor
Relations
Paloma [email protected]
+52 (81) 8389 3405
ContactWe have a strong commitment to keeping you updated. Please do not hesitate to contact us.
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