3. 3Q12 Results | Highlights in the Period
• Entry into the special and high value-added medication market on July 23, through the acquisition of an 80%
stake in Arp Med S.A.’s capital stock, subject to prior approval by the Brazilian Anti-trust Committee (CADE),
at an EV/EBITDA (2012E) multiple of 5.3x;
• Consolidated gross revenues totaled R$ 957.7 million, representing a year-over-year growth of 15.3%;
• The Company’s consolidated net income rose by 27.4% over 3Q11, and amounted to R$ 10.8 million, with net
margin of 1.3%;
• Consolidated EBITDA grew by 14.7% year-over-year, to R$ 22.1 million, with an EBITDA margin of 2.7%;
• Sales of generic medications showed a 54.7% increase year-over-year.
3
12. 3Q12 Results
3Q11 2Q12 3Q12
Cash Cycle - Days * 56.3 59.1 56.1
Accounts Receivable (1) 39.9 47.4 48.8
Inventories (2) 46.1 48.9 41.9
Accounts Payable (3) 29.7 37.1 34.5
* Average
(1) Average of Gross Revenues in the Quarter
(2) Average of COGS in the Quarter
(3) Average of COGS in the Quarter
12
13. 3Q12 Results
Indebtedness: Net Debt and Net Debt / Ebitda
(R$ milllion)
2.1x 2.1x
1.7x
203.1
202.0
119.8
3Q11 2Q12 3Q12
13
14. 3Q12 Results
Capex
(R$ million and % Net Revenues)
0.5%
0.4% 0.4%
3.9
2.9
2.5
3Q11 2Q12 3Q12
14
15. 3Q12 Results
Service Level Logistics E.P.M.
(Units served / Units Requested) (Errors per Million)
89.8% 157.0
89.2%
87.7%
107.0
90.0
3Q11 2Q12 3Q12 3Q11 2Q12 3Q12
15
17. 3Q12 Results | Analyst Coverage
Company Analyst Telephone E-mail
Morgan Stanley Fernando Amaral (55 11) 3048-6088 fernando.amaral@morganstanley.com
Merrill Lynch Mauricio Fernandes (55 11) 2188-4236 mauricio.fernandes@baml.com
Credit Suisse Marcel Moraes (55 11) 3841-6302 marcel.moraes@credit-suisse.com
Itaú BBA Juliana Rozenbaum (55 11) 3073-3040 juliana.rozenbaum@itausecurities.com
Banco Fator Gabriel Gaetano (55 11) 3049-9480 ggaetano@bancofator.com.br
Guilherme Assis (55 11) 3513-8706 guilherme.assis@raymondjames.com
Raymond James
Joseph Giordano (55 11) 3513-8704 joseph.giordano@raymondjames.com
BTG Pactual João Carlos dos Santos (55 11) 3383-2384 joaocarlos.santos@btgpactual.com
Andre Parize (55 11) 5171-5870 andre.parize@votorantimcorretora.com.br
Votorantim
Marco Richieri (55 11) 5171-5873 marco.richieri@votorantimcorretora.com.br
17
18. Contatos RI
IR Contacts
Max Fischer | Diretor Financeiro e de RI
Max Fischer | CFO and IRO
Beatriz Diez | | IR Manager
Beatriz Diez Gerente de RI 18
Telefone.: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ri
Phone.: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ri