Earnings Presentation Fourth Quarter 2013
Fourth Quarter www.cencosud.com 2 The information contained herein has been prepared by Cencosud S.A. (“Cencosud”) solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and should not be treated as giving investment or other advice. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Any opinions expressed in this presentation are subject to change without notice and Cencosud is under no obligation to update or keep current the information contained herein. The information contained herein does not purport to be complete and is qualified in its entirety by reference to more detailed information included in the preliminary offering memorandum. Cencosud and its respective affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material. This presentation may contain statements that are forward-looking subject to risks and uncertainties and factors, which are based on current expectations and projections about future events and trends that may affect Cencosud’s business. You are cautioned that any such forward-looking statements are not guarantees of future performance. Several factors may adversely affect the estimates and assumptions on which these forward- looking statements are based, many of which are beyond our control.
Fourth Quarter www.cencosud.com 3 Quarter: Solid results Adjusted EBITDA grew 18.3% Revenues Net Profit adjusted EBITDA increased 11.0% increased 40.1% margin increased YoY in CLP YoY in CLP 55 bps to 8.8% • Positive SSS in 6 of 10 • Operating results improve • Improved performance in • Non-operating results flat operations, that represents Chile, Argentina 73% of our revenues. • Improving profitability in most shopping centers.
Fourth Quarter www.cencosud.com 4 Full Year: Mixed results for different business Adjusted EBITDA Revenues grew 12.5% and Net Profit increased adjusted EBITDA decreased 15.8% 13.0% YoY in CLP YoY in CLP margin almost flat • • • Positive SSS in 7 of 10 Chile and Argentina operations Positive operating results • operations, representing 70% increased EBITDA Higher financial expenses • revenues • Addition of Colombian supermarket Exchange differences • EBITDA Brazil impacted by the • implementation of SAP; Growth of Peru department stores, Colombia still building brand Colombia home improvement recognition increased expenses
Fourth Quarter www.cencosud.com 5 Results By Business
Fourth Quarter www.cencosud.com 6 Supermarkets Revenue evolution (CLP bn) Adjusted EBITDA evolution (CLP bn) SSS evolution by country in local currency
Fourth Quarter www.cencosud.com 7 Home Improvement Revenue evolution (CLP bn) Adjusted EBITDA evolution (CLP bn) SSS evolution by country in local currency
Fourth Quarter www.cencosud.com 8 Shopping Centers Revenue evolution (CLP bn) Adjusted EBITDA evolution (CLP bn)
Fourth Quarter www.cencosud.com 9 Financial Services
Fourth Quarter www.cencosud.com 10 Department Store Revenue evolution (CLP bn) Adjusted EBITDA evolution (CLP bn) 2014 SSS Chile evolution
Fourth Quarter www.cencosud.com 11 Cencosud Financial Structure
Fourth Quarter www.cencosud.com 12 Financial Ratios Net debt evolution (US$ bn) Net leverage (net debt/EBITDA)
Fourth Quarter www.cencosud.com 13 Amortization Schedule & Refinancing
Fourth Quarter www.cencosud.com 14 2013 Summary & Highlights Supermarkets had challenging year in Q4 results Brazil; Metro and showed improved Jumbo are still revenue and building brand margins Home Improvement, awareness in Department Stores, Colombia Shopping Centers all Financial Services showed strong transaction fell performance through
Fourth Quarter www.cencosud.com 15 2014 Priorities: Brazil SSS Focus Supply Chain Greater Autonomy In our Chains
Fourth Quarter www.cencosud.com 16 2014 Priorities: Colombia SSS Positive Brand Awareness Product Mix
Fourth Quarter www.cencosud.com 17 2014 Priorities: Leverage Refinancing Considering options improves liquidity to raise additional position cash by monetizing asset base Already taken Focus on mearures to measures to improve reduce net debt / leverage ratio adjusted EBITDA ratio in 1H14 Further reduced Cost-savings capex budget initiatives
Fourth Quarter www.cencosud.com 18 Conclusion Focus on efficiency Cencosud remains across business well-positioned across different retail markets Multiple Strategies in Brazil methods to and Colombia to reduce yield improved leverage results in 2014
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