3. Highlights in the Period
• The Company's consolidated net income rose by 53.6% year-over-year to R$ 40.6 million, with net margin of 1.3%;
• Consolidated gross revenues increased 14.6% year-over-year and totaled R$ 3.8 billion. It is worth noting the generics
and health and beauty categories, which increased by 29.6% and 22.8% respectively;
• Consolidated EBITDA climbed by 26.4% against 2011 and came to R$ 92.2 million, with 2.9% EBITDA margin;
• A drop of 1.7 days in the Company's cash cycle when compared with 2011, to 46.3 days. This decrease resulted in a fall of
about R$ 21.6 million in working capital;
• The acquisition of 80% of Arp Med S.A.’s capital for a multiple EV/EBITDA (2012E) of 5.3x was approved by CADE on
December 28, 2012.
Subsequent events*:
• On January 17, 2013, the Company acquired 100% of Drogasmil and Farmalife drugstore chains, with 85 stores in Rio de
Janeiro State, for R$ 87.0 million, to be paid net of the debt level of the company;
• On January 30, 2013, the Company acquired 50% of Drogarias Tamoio chain, which consists of 57 stores in Rio de
Janeiro State. The transaction was made by means of a primary subscription of R$ 62.3 million and a secondary
subscription of R$ 43.1 million, with a multiple EV/EBITDA (2013E) of 7.5x;
• On February 21, 2013, Profarma entered into a joint venture agreement with Nutrilatina to create Supernova. With this
move, Profarma has become the exclusive distributor of Nutrilatina's products to pharmaceutical retailers and entered a
new market, body shops, also as a sole distributor.
* These transactions have to be approved by CADE - with the exception of Supernova.
3
12. 4Q12 4Q11
Cash Cycle - Days * 46.3 48.0
Accounts Receivable (1) 51.0 46.0
Inventories (2) 48.2 48.9
Accounts Payable (3) 52.9 46.8
* 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. Indebtedness:
Net Debt and Net Debt / Ebitda*
(R$ million)
1.6x 1.8x
169.3
118.9
2011 2012
* Ebitda = accumulated last 12 months
13
14. Capex
(R$ million and % Net Revenues)
0.5% 0.3% 0.3% 0.3%
10.8
9.3
3.7
2.2
4Q11 4Q12 2011 2012
* Não estão incluídos os investimentos na Prodiet.
14
15. Service Level Logistics E.P.M.
(Units served / Units Requested) (Errors per Million)
184.0
89.3% 88.3% 89.3%
87.8% 114.0
94.0
65.0
4Q11 4Q12 2011 2012 4Q11 4Q12 2011 2012
15
16. Profarma vs Ibovespa - % 4Q12
40%
34.9
30%
20%
Título do Eixo
10%
7.4
0%
-10%
-20%
Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
PFRM3 BZ Equity IBOV Index
16
17. Analyst Coverage
Company Analyst Phone number Email address
Morgan Stanley Javier Martinez de Olcoz (55 11) 3048-6088 javier.martinez.olcoz@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 Daniel Utsch (55 11) 3049-9483 dutsch@bancofator.com.br
BTG Pactual João Carlos dos Santos (55 11) 3383-2384 joaocarlos.santos@btgpactual.com
Votorantim Andre Parize (55 11) 5171-5870 andre.parize@votorantimcorretora.com.br
17
18. IR contacts
Max Fischer | Chief Financial and IR Officer 18
Beatriz Diez | IR Manager
Phone number: 55 (21) 4009-0276 | E-mail: ri@profarma.com.br | www.profarma.com.br/ri