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4Q09 and 2009 Earnings Release March, 10th, 2009.
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4Q09 and 2009 Earnings Release 807.4 2,940.4 3,041.6 808.2 714.9 4Q08 3Q09 4Q09 2008 2009 Gross Revenues Evolution (R$ million)
4Q09 and 2009 Earnings Release Gross Revenues Breakdown (R$ Million) Branded Generic OTC Health and Beauty Products Hospitals and Vaccines Total 4Q09 546.3 50.8 157.1 26.2 27.1 807.4 4Q08 489.9 41.5 127.6 31.4 24.4 714.9 Chg. % 11.5% 22.3% 23.1% -16.5% 11.0% 12.9% 3Q09 548.5 43.7 157.5 27.1 31.5 808.2 Chg. % -0.4% 16.2% -0.3% -3.0% -14.0% -0.1% 2009 2,058.5 165.1 602.0 103.2 112.7 3,041.6 2008 2,048.5 166.6 523.4 121.8 80.1 2,940.4 -15.2% Chg. % 0.5% -0.9% 15.0% 40.7% 3.4%
Source: IMS Market Share Evolution (%) 9.6 9.6 11.5 11.7 10.9* 10.9 11.0* 11.6* 2005 2006 2007 2008 2009 4Q08 3Q09 4Q09 4Q09 and 2009 Earnings Release *Excluding the similar’s effect
4Q09 and 2009 Earnings Release (R$ million and as % Net Revenues) Gross Profit and Revenues from Services to Suppliers 51.0 65.8 57.1 220.7 263.6 37.9 10.3 16.5 49.5 18.6 11.0% 10.7% 11.7% 11.0% 11.1% 4Q08 3Q09 4Q09 2008 2009 Gross Profit Revenues from Services to Suppliers Gross Profit Margin (%)
(R$ million and as % Net Revenues ) Operating Expenses 4Q09 and 2009 Earnings Release 50.6 193.6 193.9 47.4 48.1 6.9% 7.4% 7.6% 7.5% 7.9% 4Q08 3Q09 4Q09 2008 2009
(R$ million and as % Net Revenues) Net Financial Expenses 4Q09 and 2009 Earnings Release 5.3 32.9 26.7 5.1 10.0 0.7% 0.8% 1.3% 1.0% 1.6% 4Q08 3Q09 4Q09 2008 2009
4Q09 and 2009 Earnings Release 15.4 31.6 53.2 13.1 6.5 1.9% 2.2% 1.2% 2.1% 1.1% 4Q08 3Q09 4Q09 2008 2009 (R$ million and as % Net Revenues) Net Profit
(R$ million and as % Net Revenues) Ebitda and Ebitda Margin 4Q09 and 2009 Earnings Release 28.0 78.7 110.7 27.7 21.5 4.1% 4.1% 3.1% 4.3% 3.5% 4Q08 3Q09 4Q09 2008 2009
4Q09 and 2009 Earnings Release (R$ Million) 4Q09 4Q08 Chg. % 3Q09 Chg. % 2009 2008 Chg. % (19.2) 10.6 - 36.5 - 80.2 11.0 627.8% 17.9 10.7 66.7% 19.3 -7.0% 73.4 53.2 37.9% (37.1) (0.1) -30820.0% 17.2 - 6.8 (42.2) - (25.1) 43.8 - (1.9) -1213.1% (8.6) 58.3 - (81.8) (18.7) -338.5% 27.0 - (35.0) 0.6 - 91.3 (6.9) - (3.7) - 80.8 (47.5) - (21.6) (18.4) -17.3% (4.1) -420.6% (30.3) (53.5) 43.4% (3.6) (4.2) 14,2% (2.2) -63.4% (11.8) (10.8) -9.1% (9.9) (15.3) 35.4% (17.1) 42.3% (94.3) (19.3) -388.5% (32.6) (8.8) -269.9% 17.2 - (25.8) (19.0) -35.3% CASH FLOW Cash Flow Generated / (Used) in Operating Activities Internal Cash Generation Operating Assets Variation Trade Accounts Receivable Inventories Suppliers Other Items Cash Flow (Used) in Investing Activities Cash Flow Generated / (Used) by Financing Activities Net Increase / (Decrease) in Cash
3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 Cash Cycle - Days * 49.3 53.4 62.5 69.6 67.8 64.3 68.8 67.2 61.8 65.8 Accounts Receivable  (1) 45.2 50.0 54.6 53.1 50.9 51.7 50.7 49.2 47.0 45.9 Inventories  (2) 33.1 44.7 43.4 47.2 41.3 48.6 47.9 45.7 42.5 49.9 Accounts Payable  (3)  29.0 41.3 35.6 30.7 24.5 36.0 29.8 27.7 27.7 29.9 * Average 1Q09 67.9 42.4 54.0 28.5 2Q09 58.7 40.5 46.5 28.4 3Q09 51.6 38.4 38.5 25.3 4Q09 52.7 41.1 49.6 38.0 4Q09 and 2009 Earnings Release (1)  Average of Gross Revenues in the Quarter  (2)  Average of COGS in the Quarter  (3)  Average of COGS in the Quarter
* Ebitda = Accumulated last 12 months 4Q09 and 2009 Earnings Release 118.1 149.4 118.1 95.0 149.4 0.9 1.1 1.9 1.1 1.9 4Q08 3Q09 4Q09 2008 2009 Indebtedness: Net Debt and Net Debt / Ebitda* (R$ million)
4Q09 and 2009 Earnings Release 3.7 10.8 12.0 2.2 4.2 0.3% 0.5% 0.4% 0.5% 0.7% 4Q08 3Q09 4Q09 2008 2009 (R$ million and as % Net Revenues) Capex
Service Level (units served / units requested) Logistics E.P.M.  (Errors per Million) Operating Indicators 90.2% 94.1% 93.0% 4Q08 3Q09 4Q09 83.0 120.0 130.0 4Q08 3Q09 4Q09 4Q09 and 2009 Earnings Release
Profarma vs Ibovespa in the year 2009 4Q09 and 2009 Earnings Release Ibovespa Profarma 183 312 10 40 70 100 130 160 190 220 250 280 310 340 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09
Analyst Firm Analyst Coverage Javier Martinez de Olcoz Cerdan  Phone: (1 212) 761-4542  E-mail: javier.martinez.olcoz@morganstanley.com Morgan Stanley João Carlos dos Santos - Alexandre Pizano Phone: (55 11) 2188-4316 / (55 11) 2188-4024 E-mail: joaocarlos_santos@ml.com E-mail: alexandre_pizano@ml.com Merrill Lynch Marcel Moraes Phone: (55 11) 3841-6302 E-mail: marcel.moraes@credit-suisse.com Credit Suisse Juliana Rozenbaum  - Marcio Osako Phone: (55 11) 3073-3035 / (55 11) 3073-3040 E-mail: juliana.rozenbaum@itausecurities.com E-mail: marcio.osako@itau.com.br Itaú BBA Iago Whately Phone: (55 11) 3049-9480 E-mail: iwhately@bancofator.com.br Banco Fator 4Q09 and 2009 Earnings Release
Max Fischer   CFO and IR Director Beatriz Diez IR Manager   Telephone,: 55 (21) 4009 0276 E-mail: ri@profarma.com.br www.profarma.com.br/ir   IR Contacts

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Conference Call 4Q09

  • 1. 4Q09 and 2009 Earnings Release March, 10th, 2009.
  • 2.
  • 3. 4Q09 and 2009 Earnings Release 807.4 2,940.4 3,041.6 808.2 714.9 4Q08 3Q09 4Q09 2008 2009 Gross Revenues Evolution (R$ million)
  • 4. 4Q09 and 2009 Earnings Release Gross Revenues Breakdown (R$ Million) Branded Generic OTC Health and Beauty Products Hospitals and Vaccines Total 4Q09 546.3 50.8 157.1 26.2 27.1 807.4 4Q08 489.9 41.5 127.6 31.4 24.4 714.9 Chg. % 11.5% 22.3% 23.1% -16.5% 11.0% 12.9% 3Q09 548.5 43.7 157.5 27.1 31.5 808.2 Chg. % -0.4% 16.2% -0.3% -3.0% -14.0% -0.1% 2009 2,058.5 165.1 602.0 103.2 112.7 3,041.6 2008 2,048.5 166.6 523.4 121.8 80.1 2,940.4 -15.2% Chg. % 0.5% -0.9% 15.0% 40.7% 3.4%
  • 5. Source: IMS Market Share Evolution (%) 9.6 9.6 11.5 11.7 10.9* 10.9 11.0* 11.6* 2005 2006 2007 2008 2009 4Q08 3Q09 4Q09 4Q09 and 2009 Earnings Release *Excluding the similar’s effect
  • 6. 4Q09 and 2009 Earnings Release (R$ million and as % Net Revenues) Gross Profit and Revenues from Services to Suppliers 51.0 65.8 57.1 220.7 263.6 37.9 10.3 16.5 49.5 18.6 11.0% 10.7% 11.7% 11.0% 11.1% 4Q08 3Q09 4Q09 2008 2009 Gross Profit Revenues from Services to Suppliers Gross Profit Margin (%)
  • 7. (R$ million and as % Net Revenues ) Operating Expenses 4Q09 and 2009 Earnings Release 50.6 193.6 193.9 47.4 48.1 6.9% 7.4% 7.6% 7.5% 7.9% 4Q08 3Q09 4Q09 2008 2009
  • 8. (R$ million and as % Net Revenues) Net Financial Expenses 4Q09 and 2009 Earnings Release 5.3 32.9 26.7 5.1 10.0 0.7% 0.8% 1.3% 1.0% 1.6% 4Q08 3Q09 4Q09 2008 2009
  • 9. 4Q09 and 2009 Earnings Release 15.4 31.6 53.2 13.1 6.5 1.9% 2.2% 1.2% 2.1% 1.1% 4Q08 3Q09 4Q09 2008 2009 (R$ million and as % Net Revenues) Net Profit
  • 10. (R$ million and as % Net Revenues) Ebitda and Ebitda Margin 4Q09 and 2009 Earnings Release 28.0 78.7 110.7 27.7 21.5 4.1% 4.1% 3.1% 4.3% 3.5% 4Q08 3Q09 4Q09 2008 2009
  • 11. 4Q09 and 2009 Earnings Release (R$ Million) 4Q09 4Q08 Chg. % 3Q09 Chg. % 2009 2008 Chg. % (19.2) 10.6 - 36.5 - 80.2 11.0 627.8% 17.9 10.7 66.7% 19.3 -7.0% 73.4 53.2 37.9% (37.1) (0.1) -30820.0% 17.2 - 6.8 (42.2) - (25.1) 43.8 - (1.9) -1213.1% (8.6) 58.3 - (81.8) (18.7) -338.5% 27.0 - (35.0) 0.6 - 91.3 (6.9) - (3.7) - 80.8 (47.5) - (21.6) (18.4) -17.3% (4.1) -420.6% (30.3) (53.5) 43.4% (3.6) (4.2) 14,2% (2.2) -63.4% (11.8) (10.8) -9.1% (9.9) (15.3) 35.4% (17.1) 42.3% (94.3) (19.3) -388.5% (32.6) (8.8) -269.9% 17.2 - (25.8) (19.0) -35.3% CASH FLOW Cash Flow Generated / (Used) in Operating Activities Internal Cash Generation Operating Assets Variation Trade Accounts Receivable Inventories Suppliers Other Items Cash Flow (Used) in Investing Activities Cash Flow Generated / (Used) by Financing Activities Net Increase / (Decrease) in Cash
  • 12. 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 Cash Cycle - Days * 49.3 53.4 62.5 69.6 67.8 64.3 68.8 67.2 61.8 65.8 Accounts Receivable (1) 45.2 50.0 54.6 53.1 50.9 51.7 50.7 49.2 47.0 45.9 Inventories (2) 33.1 44.7 43.4 47.2 41.3 48.6 47.9 45.7 42.5 49.9 Accounts Payable (3) 29.0 41.3 35.6 30.7 24.5 36.0 29.8 27.7 27.7 29.9 * Average 1Q09 67.9 42.4 54.0 28.5 2Q09 58.7 40.5 46.5 28.4 3Q09 51.6 38.4 38.5 25.3 4Q09 52.7 41.1 49.6 38.0 4Q09 and 2009 Earnings Release (1) Average of Gross Revenues in the Quarter (2) Average of COGS in the Quarter (3) Average of COGS in the Quarter
  • 13. * Ebitda = Accumulated last 12 months 4Q09 and 2009 Earnings Release 118.1 149.4 118.1 95.0 149.4 0.9 1.1 1.9 1.1 1.9 4Q08 3Q09 4Q09 2008 2009 Indebtedness: Net Debt and Net Debt / Ebitda* (R$ million)
  • 14. 4Q09 and 2009 Earnings Release 3.7 10.8 12.0 2.2 4.2 0.3% 0.5% 0.4% 0.5% 0.7% 4Q08 3Q09 4Q09 2008 2009 (R$ million and as % Net Revenues) Capex
  • 15. Service Level (units served / units requested) Logistics E.P.M. (Errors per Million) Operating Indicators 90.2% 94.1% 93.0% 4Q08 3Q09 4Q09 83.0 120.0 130.0 4Q08 3Q09 4Q09 4Q09 and 2009 Earnings Release
  • 16. Profarma vs Ibovespa in the year 2009 4Q09 and 2009 Earnings Release Ibovespa Profarma 183 312 10 40 70 100 130 160 190 220 250 280 310 340 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09
  • 17. Analyst Firm Analyst Coverage Javier Martinez de Olcoz Cerdan Phone: (1 212) 761-4542 E-mail: javier.martinez.olcoz@morganstanley.com Morgan Stanley João Carlos dos Santos - Alexandre Pizano Phone: (55 11) 2188-4316 / (55 11) 2188-4024 E-mail: joaocarlos_santos@ml.com E-mail: alexandre_pizano@ml.com Merrill Lynch Marcel Moraes Phone: (55 11) 3841-6302 E-mail: marcel.moraes@credit-suisse.com Credit Suisse Juliana Rozenbaum - Marcio Osako Phone: (55 11) 3073-3035 / (55 11) 3073-3040 E-mail: juliana.rozenbaum@itausecurities.com E-mail: marcio.osako@itau.com.br Itaú BBA Iago Whately Phone: (55 11) 3049-9480 E-mail: iwhately@bancofator.com.br Banco Fator 4Q09 and 2009 Earnings Release
  • 18. Max Fischer CFO and IR Director Beatriz Diez IR Manager Telephone,: 55 (21) 4009 0276 E-mail: ri@profarma.com.br www.profarma.com.br/ir IR Contacts