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Profarma apresentacao 1_q11

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2. 1Q11 Earnings Release May, 11th, 2011 2 3. Highlights in the Period In May 2011, Profarma celebrates its 50th Anniversary. The Companys result-oriented culture, coupled with a long-termvision based on everyday practical and objective initiatives, will be crucial to continue consolidating its position in thepharmaceutical distribution industry in Brazil; A rise of 1.7% in the consolidated gross revenues when compared to the same period in the previous year, totaling R$778.8 million; Highlight for the Health and Beauty category, which showed growing sales for the fifth consecutive quarter, and anoutstanding increase of 78.0% in comparison with the same period in the previous year; A drop of 31.4% in the EPM (Errors Per Million of shipped units), which changed from 210.0 recorded in the 1Q10 to 144.0in the 1Q11; The annual prices increase occurred in March 31, 2011 was 4.6%, in line with the inflation accrued over the last 12months. This is the second higher price increase over the last five years.3 3 4. Gross Revenues Evolution(R$ Million)832.3766.0778.81Q104Q10 1Q11 4 4 5. Gross Revenues Breakdown(R$ Million)1Q111Q10Chg. % 4Q10Chg. %Branded 507.1 511.7 -0.9%554.6 -8.6%Generic54.551.6 5.6%59.6 -8.7%OTC 148.7 148.4 0.2% 151.4 -1.8%Health and Beauty Products 47.626.8 78.0% 43.9 8.5%Hospitals + Vaccines 21.027.6 -24.1%22.7 -7.6%Total 778.8 766.0 1.7% 832.3 -6.4%5 5 6. Market Share Evolution (%)11.511.7 10.9*10.9* 10.4* 10.2* 9.69.9*200620072008 20092010 1Q104Q10 1Q11*Excluding the similars effect Source: IMS and Profarma 6 6 7. Gross Profit and Revenues from Services to Suppliers (R$ million and as % Net Revenues) 10.4% 10.1%9.6%20.028.4 24.046.541.7 39.11Q10 4Q10 1Q11Gross Profit Revenues from Services to SuppliersGross Profit Margin (%)7 7 8. Operating Expenses (R$ million and as % Net Revenues)7.5%7.4%7.7% 51.5 50.748.11Q104Q101Q11 8 8 9. Ebitda and Ebitda Margin (R$ million and as % Net Revenues)2.8%2.7%1.7%17.918.610.91Q104Q101Q11 9 9 10. Net Financial Expenses (R$ million and as % Net Revenues) 0.9% 1.1%0.8%7.26.05.41Q10 4Q10 1Q11 10 10 11. Net Profit (R$ million and as % Net Revenues)1.2% 1.5%0.3% 10.57.82.21Q10 4Q10 1Q11 11 11 12. CASH FLOW(R$ Million)1Q111Q10Chg. %4Q10 Chg. %Cash Flow Generated / (Used) in Operating Activities(80.2) (43.2) -85.5%(21.3) -276.6%Internal Cash Generation10.4 18.6 -43.9%22.2 -53.2%Operating Assets Variation(90.6) (61.8) -46.6%(43.5) -108.2% Trade Accounts Receivable22.9 (1.8) -(16.4)- Inventories(30.8) (18.7) -64.5%(64.7) 52.5% Suppliers(74.7) (38.9) -92.3%68.5- Other Items(8.1)(2.5)-227.7% (30.9) 73.9%Cash Flow (Used) in Investing Activities(1.3)(1.5)14.0% (3.3)61.9%Cash Flow Generated / (Used) by Financing Activities81.1 69.2 17.2% (15.5)-Net Increase / (Decrease) in Cash (0.4)24.5-(40.1) 99.1% 12 12 13. Cycle IFRS Basis 1Q10 4Q10 1Q11 Cash Cycle (Days) * 64.9 49.0 64.5Accounts Receivable (1)43.4 43.6 43.9Inventories (2)59.9 52.0 59.3Accounts Payable (3) 38.4 46.6 38.7* Average(1) Average of Gross Revenues in the Quarter(2) Average of COGS in the Quarter(3) Average of COGS in the Quarter13 13 14. Indebtedness: Net Debt and Net Debt / Ebitda*(R$ million)2.7x 1.5x1.4x 194.8167.3108.71Q104Q10 1Q11* Ebitda = Accumulated last 12 months 14 14 15. Capex (R$ million and % as Net Revenues) 0.5%0.2%0.2%3.51.5 1.31Q10 4Q10 1Q11 15 15 16. Operating IndicatorsService Level Logistics E.P.M.(Units served/ Units requested) (Errors per Million)92.3% 210.0170.089.5% 144.088.1%1Q104Q101Q111Q10 4Q101Q11 16 16 17. Profarma vs Ibovespa - % (mar/10 - mar/11)1201101009790 828070Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10Sep-10 Oct-10Nov-10 Dec-10 Jan-11 Feb-11 Mar-11Ibovespa Profarma17 17 18. Analyst CoverageCompanyAnalystTelephone E-mail Javier Martinez de Olcoz Cerdan(1 212) [email protected] Stanley Clarissa Berman(55 11) 3048-6214 [email protected] LynchAlexandre Pizano (55 11) 2188-4024 [email protected] SuisseMarcel Moraes(55 11) 3841-6302 [email protected] Juliana Rozenbaum(55 11) 3073-3035 [email protected] BBA Marcio Osako (55 11) 3073-3040 [email protected] FatorIago Whately (55 11) 3049-9480 [email protected] JamesGuilherme Assis(55 11) 3513-8706 [email protected] PactualJoo Carlos dos Santos (55 11) 3383-2384 [email protected] 18 19. 19