2. Highlights | Corporate
2
The only Brazil’s mixed market player that features exposure and expansion capacity
in the segments of Retail, Hospital & Specialties and Distribution;
Strategic partnership with AmerisourceBergen, the world’s largest player in the
pharmaceutical specialties, resulting in the creation of the company Profarma
Specialty;
The Company carried out four acquisitions over the last three years, including its
entry into the Retail pharmaceutical segment, and the attainment of a market position
as one of the major players within this segment in the state of Rio de Janeiro;
Proven capacity to integrate acquisitions, combining all group companies in the SAP
plataform.
3. Highlights | 2014
3
CONSOLIDATED
• Consolidated EBITDA rose by 9.6% to R$ 87.3 million, with
EBITDA margin of 2.2% vs. 2013;
• Operating expenses fell by 0.5 p.p. year-over-year in 2014;
• Gross revenues climbed by 4.4% from 2013.
RETAIL
• Drogasmil’s and Tamoio’s sales rose respectively by 15.6% and
12.5% year-over-year;
• Drogasmil’s EBITDA shot up by 72.0% and Tamoio’s by 62.2% in
relation to 2013;
• Average monthly sales per store climbed by 23.0% at Drogasmil
and by 11.1% at Tamoio against 2013;
• Drogasmil’s same stores sales (SSS) increased by 26.2% and
Tamoio’s by 13.0% in relation to 2013;
• Four new Drogasmil stores were opened in 4Q14, totaling 14 new
stores in 2014.
SPECIALTIES
• Specialty retail sales climbed by 18.0% in relation to 2013;
• Oncologicals sales up 26.7% in comparison to 2013.
PHARMACEUTICAL DISTRIBUTION
• Sales increased by 3.6% in relation to 2013 and by 10.5% in the
second half of 2014;
• • Operating expenses slid by 0.4 p.p., from 8.5% to 8.1%,
compared with 2013;
• The Independent customers segment grew by 6.9%;
• Sales of the OTC and Branded categories rose respectively by
11.8% and 5.1% vs. 2013.
6. Consolidated Performance
6
Gross Revenues Evolution
(R$ million)
Pharmaceutical Distribution
Specialties
Retail
Sales increased by 3.6% in relation to
2013 and by 10.5% in the second half
of 2014.
Specialty retail sales climbed by
18.0% in relation to 2013.
Drogasmil’s and Tamoio’s sales rose
respectively by 15.6% and 12.5%
year-over-year.
Accounting Consolidated Gross Revenues
Pro-forma Consolidated Gross Revenues: 100% of revenues from
Tamoio, Drogasmil / Farmalife and Profarma Specialty
4Q13 2014
985.2
3,974.1
56.2
472.3
1,041.4
4,446.4
4Q14
1,000.9
181.1
1,182.0
2013
3,997.5
261.0
4,258.5
-0.6%
1.6%
15. Pharmaceutical Distribution
Financial Data
(R$ million and % Net Revenues)
EBITDA Margin
(%)
2.1
2013 2014
2.8
Op. Exp. SG&A
(%)
8.1
2013 2014
8.5
Gross Margin
(%)
10.5
2013 2014
11.5
Gross Revenues
(R$ million)
3,483.7
2013 2014
3,363.0
Operating expenses slid by
0.4 p.p., from 8.5% to 8.1%,
compared with 2013.
Sales of the OTC and
Branded categories rose
respectively by 11.8% and
5.1% vs. 2013 and
Independent customers
segment grew by 6.9%;
Sales increased by 3.6% in
relation to 2013 and by
10.5% in the second half of
2014;
15
19. 19
6.8
2013 2014
4.8
24.2
2013 2014
25.0
31.0
2013 2014
29.8
402.3
2013 2014
357.5
Retail | Tamoio
Tamoio’s sales up 12.5%
from 2013;
Average monthly sales per
store up 11.1%, from R$
502.7 thousand in 2013 to
R$ 558.7 thousand in 2014;
EBITDA margin up 2.0 p.p. in
relation to 2013
Financial Data
(R$ million and % Net Revenues)
EBITDA Margin
(%)
Op. Exp. SG&A
(%)
Gross Margin
(%)
Gross Revenues
(R$ million)
21. Retail | Tamoio
21
1 Opening
0 Close-downs
0 Reformulated
50 Mature
2013
vs.
2014
4Q13
25.9
2014
28.0
4Q14
28.0
2013
25.7
8.4%
8.9%
4Q14
60
4Q13
59
1.7%
# of Stores
(units)
Average Ticket
(in reais)
22. 22
-3.6
2013 2014
-14.9
34.3
2013 2014
41.9
30.9
2013 2014
26.9
265.2
2013 2014
229.4
Retail | Drogasmil/Farmalife
Average monthly sales per
store up 23.0%, from R$
285.3 thousand in 2013 to R$
350.8 thousand in 2014
Operating loss down 72.0%,
from R$ (34.1) million in
2013 to R$ (9.5) million in
2014.
Total gross margin up 4.0
p.p. year-over-year, totaling
30.9% in 2014;
Financial Data
(R$ million and % Net Revenues)
EBITDA Margin
(%)
Op. Exp. SG&A
(%)
Gross Margin
(%)
Gross Revenues
(R$ million)
