Ripley May 2012 Corp 1
Ripley Corp One of the biggest holdings of the department store business in Chile and Peru, and starting operations in Colombia PERU CHILE since1997 since 1956 • 16 Department stores • 38 department stores • 128 Th. m2 of selling space • 236 Th. m2 of selling space • 47 branches of Banco Ripley Chile • 16 branches of Banco Ripley Peru • 1,152 Th. credit cards with debt TOTAL REVENUES • 499 Th. credit cards with debt • Loan portfolio: MUS$ 1,143 • Loan Portfolio: MUS$ 381 • Strategic alliance with Mall Plaza PERU 30% • 40% ownership of Aventura Plaza CHILE 70% Figures as of Dec. 2011 - USD/CLP: 519 2
Ripley Corp 56 years of history First store in Santiago 1956 1976 Credit business beginning 1985 First department store Ripley Parque Arauco � biggest store in South America / New image positioning 1993 First store in Peru First store in Peru 1997 1997 Insurance brokerage and e-commerce 2000 Bank Ripley Chile 2002 2003 Opening of Hong Kong office / local bond of UF 6.500.000 (MUS$257) IPO of Ripley Corp. 2005 First store outside Lima (Trujillo). First shopping mall of Aventura Plaza S.A. JV in Peru 2007 Acquisition of 22.5% of Nuevos Desarrollos S.A.(Plaza Alameda. Plaza Sur and future 2009 developments) Financial Statements under IFRS 2010 2012 Ripley announces new operations in Colombia 3
Ripley Corp Main Shareholders Market Information March 2012 Foreign Inv. 4.3% Others Mutal Funds 14.0% 2.3% Calderón Volochinsky 53.0% • Market Cap: MUS 2.155 Calderón Kohon Pension Funds Pension Funds • Free Float: 34.5% • Free Float: 34.5% 12.5% 13.9% • Daily Average Transactions (2011): Free Float: 34.5% MUS$ 4.0 Ripley Stock Price • Local IPO: 2005 800 700 600 500 400 300 200 100 0 01/01/2008 01/01/2009 01/01/2010 01/01/2011 01/01/2012 4
Ripley RETAIL BUSINESS Corp Revenues Evolution (USD M) 1.300 900 1.200 1,179 800 1.100 1,097 700 1.000 1,000 600 900 962 923 593 886 800 860 860 500 508 508 470 460 700 400 417 362 600 300 355 500 200 400 100 300 0 2005 2006 2007 2008 2009 2010 2011 2005 2006 2007 2008 2009 2010 2011 RETAIL CHILE RETAIL PERU � 38 Stores � 16 Stores � Selling Space 235,520 m2 � Selling Space 128,292 m2 � 26% Market Share* � 42% Market Share* *Market Share (2011) • Chile: Ripley. Falabella and Paris • Perú: Ripley and Falabella 5
Ripley FINANCIAL BUSINESS Corp Total Loans evolution (USD M) 445 454 384 400 412 404 286 381 381 1.011 894 755 743 349 695 331 684 317 286 576 231 193 2005 2006 2007 2008 2009 2010 2011 2005 2006 2007 2008 2009 2010 2011 Credit Card Chile Bank Chile Peru CREDIT PERU CREDIT CHILE � Increasing the number of customers without � Increasing the loan portfolio and the number of increasing average debt per client clients, with controlled risk � Competitive interest rates � More competitive credit card � 1,152 thousand credit cards with debt � 500 thousand credit cards with debt 6
Ripley REAL ESTATE Corp Strategy based on developing new projects with high growth potential together with the industry leader Chile Peru • Nuevos Desarrollos S.A. (22.5% owned by the company) • Aventura Plaza (40% owned by the company) • 2 shopping malls • 3 shopping malls • Mall Concepción (100% owned by the company) • 90,000 m2 of construction • • 41,000 m2 of selling space. Chile Selling Space (m2) Selling Space (m2)* Ownership (%) Marina Arauco 57,968 19,303 33,3% Mall del Centro Curicó 45,911 15,288 33,3% Mall Plaza Sur 74,583 16,781 22,5% Mall Plaza Alameda 57,355 12,905 22,5% Mall Concepción** 41,000 41,000 100% Total Chile 276,817 105,278 Peru Selling Space (m2) Selling Space (m2)* Ownership (%) Aventura Plaza Trujillo 44,114 17,646 40% Aventura Plaza Bellavista 76,460 30,584 40% Aventura Plaza Arequipa 55,000 22,000 40% Total Peru 175,574 70,230 Total selling space 452,391 175,507 * Selling space x ownership 7 *July 2012
RETAIL BUSINESS 8
Ripley RETAIL BUSINESS Corp � Attracting clients by adding new brands and increasing the value of current ones instead of appealing on price events. � Optimizing price/quality ratio through better designs and materials. 9
Ripley RETAIL BUSINESS Corp Florida Center Remodeling stores to improve the Chile shopping experience. Parque Arauco Chile San Isidro Peru Lima Norte Peru 10
Ripley NEW STORES Chile CHILE Ripley Ripley 4 New Stores Costanera Costanera 2012-2013 Costanera Center (2Q 2012) • Total m2 : 15,815 • Biggest store of Ripley • Higher income segment Ripley Costanera Ripley Concepción (3Q 2012) Costanera • Downtown Concepción • Total m2: 7,976 11
Ripley NEW MALL Chile CHILE Mall Concepción • 3Q 2012 • Total m2: 90,000 • Selling Space m2: 41,000 • 2 mayor stores: Ripley and Jumbo • 85 smaller stores • 6 cinemas • 22-storry tower for comercial offices • Downtown Concepción 12
Ripley NEW STORES Peru PERU 9 New Stores: 5 in 2012 and 4 in 2013 • Chimbote (2Q 2012) • Total m2 : 3.810 • • Santa Anita (3Q 2012) • Total m2 : 9.000 • Jirón de la Unión (3Q 2012) • Total m2 : 3.400 • San Borja (4Q 2012) • Total m2 : 9.000 • Huancayo (4Q2012) • Total m2 : 5.550 13
Ripley RETAIL BUSINESS Corp 30,0% 27.4% 27.2% CHILE 750.000 650.000 25,0% 550.000 612.027 569,426 20,0% 450.000 350.000 15,0% 250.000 10,0% 150.000 50.000 5,0% 2010 2011 Retail Revenues (M$) Retail Revenues (M$) Retail Margin % Retail Margin % PERU 2.000.000 30,0% 26.1% 25.4% 1.800.000 25,0% 1.600.000 1.400.000 20,0% 1.200.000 1,598,047 1,369,628 1.000.000 15,0% 800.000 10,0% 600.000 400.000 5,0% 200.000 - 0,0% 2010 2011 Retail Revenues (ThS/.) Retail Margin % 14
FINANCIAL BUSINESS 15
Ripley FINANCIAL BUSINESS Corp � Increasing the number of customers without increasing average debt per client. � Launching new Ripley Mastercard in Chile: � Access to the Transbank network. � Increasing the number of transactions. � Ripley Puntos: Loyalty program created to incentive the use of our credit card. � Alliance with Lan Pass and Claro: � Access to new potential clients. 16
Ripley FINANCIAL BUSINESS Corp CHILE 170,590 162,357 180.000 440.000 160.000 420.000 140.000 400.000 120.000 392,000 380.000 385.558 100.000 360.000 80.000 340.000 60.000 320.000 40.000 300.000 20.000 280.000 260.000 0 2010 2010 2011 2011 Gross Loan Portfolio (M$) Financial Revenues (M$) PERU 471,034 1.200.000 420,855 460.950 1.000.000 1,026,205 410.950 891,937 800.000 360.950 310.950 600.000 260.950 400.000 210.950 200.000 160.950 - 110.950 2010 2011 Gross Loan Portfolio (ThS/.) Financial Revenues (ThS/.) 17
Ripley Chile STRONG RISK COVERAGE INDUSTRY BENCHMARK Ripley Cencosud Falabella Hites Walmart % Provisions % Loan Portf % Provisions % Loan Portf % Provisions % Loan Portf % Provisions % Loan Portf % Provisions % Loan Portf 8,5% 77,7% 2,2% 77,2% 0,7% 85,5% 2,4% 72,4% 1,2% 78,3% Not Delayed 12,4% 11,5% 7,7% 10,5% 4,7% 8,2% 11,9% 10,3% 13,1% 7,6% 1-30 23,4% 3,3% 21,9% 3,8% 16,8% 2,6% 26,2% 4,8% 23,1% 4,0% 31-60 61-90 61-90 38,7% 38,7% 2,2% 2,2% 34,5% 34,5% 2,5% 2,5% 34,1% 34,1% 1,4% 1,4% 38,2% 38,2% 3,9% 3,9% 39,7% 39,7% 2,9% 2,9% 53,7% 1,8% 47,3% 2,1% 62,7% 0,9% 49,4% 3,4% 58,7% 2,8% 91-120 121-150 70,4% 1,8% 60,2% 1,8% 76,3% 0,8% 58,1% 2,7% 70,7% 1,8% 86,4% 1,7% 60,7% 2,0% 98,0% 0,7% 71,8% 2,5% 82,9% 2,3% 151-180 13,4% 100,0% 7,6% 100,0% 3,7% 100,0% 10,7% 100,0% 9,0% 100,0% Total 51.726 31.258 43.109 14.107 28.864 Provisions 385.559 412.307 1.174.273 131.351 321.339 Loan Portf 20.646 24.690 27.303 11.292 22.587 Total NPL $ 5,4% 6,0% 2,3% 8,6% 7,0% NPL/Total Loans (%) 2,5 1,3 1,6 1,2 1,3 Provisions/NPL Ripley is the only player that makes a significant provision on not delayed portfolio Source: Companies financial statements as of Dec 2011 18 NPL: loans that are 90 days or more past due
Ripley Colombia 19
Ripley RIPLEY COLOMBIA Colombia January 2012 Ripley announces new operations in Colombia Investment of USD 272 million for the next 4 years First store � Open in 2013 � City: Bucaramanga � Shopping mall “El Cacique” CEO Colombia : � Sergio Collarte (ex CEO Perú) 20
Ripley RIPLEY COLOMBIA Colombia Population (millions) Población (Millones) 191 112 Why Colombia? 46 40 29 29 17 Brasil Mexico Colombia Argentina Peru Venezuela Chile PGB Billones de US$ Nominal GDP USD billions � Positive economic outlook 2.024 � Third largest population in 1.004 1.004 Latinamerica 351 285 283 199 154 � It has one of the lowest risk Brasil Mexico ArgentinaVenezuela Colombia Chile Perú classifications of the region PIB per Cápita US$ Nominal GDP per capita USD Risk (EMBI) Riesgo (EMBI) � Responsible government institutions Peru 5.196 Venezuela 1.087 Colombia 6.220 Argentina � 595 Low development of the Department Argentina 8.663 Brasil 182 Stores business model Mexico 9.243 Colombia 160 Venezuela 9.773 Perú 157 Brasil 10.471 Mexico 138 Chile 11.587 Chile 129 21
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