Ripley June 2012 1
Ripley Corp One of the biggest holdings of the department store business in Chile and Peru. and starting operations in Colombia CHILE PERU since 1956 since 1997 • • 39 department stores • 16 department stores • 248 Th. m2 of selling space • 128 Th. m2 of selling space • 47 branches of Banco Ripley Chile • 22 branches of Banco Ripley Peru • 1,080 Th. credit cards with debt • 475 Th. credit cards with debt TOTAL REVENUES • Loan portfolio: MUS$ 1,169 Total Revenues • Loan portfolio: MUS$ 361 • Strategic alliance with Mall Plaza PERU • 40% ownership of Aventura Plaza 30% CHILE 70% Figures as of March. 2012 – CLP/USD 489 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$257) IPO of Ripley Corp. 2005 First store outside Lima (Trujillo). First shopping mall of Aventura Plaza S.A. JV in Peru 2007 Acquisition of 22.5% of Nuevos Desarrollos S.A.(Plaza Alameda. Plaza Sur and future 2009 developments) Financial Statements under IFRS 2010 2012 Ripley announces new operations in Colombia 3
Ripley Corp Main Shareholders Market Information May 2012 Foreign Inv. 4.6% Others Mutal Funds 13.3% 2.2% Calderón Volochinsky 53.0% Pension • Market Cap: MUS 1,861 Funds Calderón 14.5% Kohon • Free Float: 34.5% • Free Float: 34.5% 12.5% • Daily Average Transactions (2011): Free Float: 34.5% MUS$ 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) 1.500 1.200 1.300 1.000 1,281 1,252 1,164 1.100 800 1,061 1,021 979 900 600 940 912 613 597 597 510 510 474 700 463 400 421 365 365 500 200 300 0 2005 2006 2007 2008 2009 2010 2011 LTM Mar 2005 2006 2007 2008 2009 2010 2011 LTM Mar 12 12 RETAIL CHILE RETAIL PERU � 39 Stores � 16 Stores � Selling Space 248,351 m2 � Selling Space 128,292 m2 � 26% Market Share* � 44% Market Share* *Market Share (March 2012) • Chile: Ripley. Falabella and Paris • Perú: Ripley and Falabella 5
Ripley FINANCIAL BUSINESS Corp Total Loans evolution (USD M) 1.000 1.700 900 1.500 472 800 482 1.300 700 424 407 1.100 437 429 430 600 1,073 500 900 948 304 400 802 802 788 788 700 700 737 739 726 385 361 353 300 334 320 611 289 500 200 233 195 300 100 0 100 2005 2006 2007 2008 2009 2010 2011 mar-12 2005 2006 2007 2008 2009 2010 2011 mar-12 Bank Peru Credit Card Chile Bank Chile 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 � 1,080 thousand credit cards with debt � 475 thousand credit cards with debt 6
Ripley REAL ESTATE Corp Strategy based on developing new projects with high growth potential together with the Selling Ownership Chile Space (m2) (%) industry leader Marina Arauco 57,968 33.3% Chile Mall del Centro Curicó 45,911 33.3% Mall Plaza Sur 74,583 22.5% • Nuevos Desarrollos (22.5%) Mall Plaza Alameda 57,355 22.5% • Inmobiliaria Viña del Mar (33.3%) Mall Concepción 1 41,000 100% 276,817 Total Chile • Mall Concepción (100%) Total Chile x Ownership Total Chile x Ownership 105,278 105,278 Peru Selling Ownership • Aventura Plaza (40%) Peru Space (m2) (%) Aventura Plaza Trujillo 44,114 40% Aventura Plaza Bellavista 76,460 40% Aventura Plaza Arequipa 55,000 40% Aventura Plaza Santa Anita 2 58,000 233,574 Total Peru Total Peru x Ownership 93,430 Total Selling Space x Ownership 198,707 7 1 and 2 will open in 3Q 2012
RETAIL BUSINESS 8
Ripley RETAIL BUSINESS Corp � Attracting clients by adding new brands Nº of brands Nº of brands % of Sales (sales over Total and increasing the value of current ones US$50,000) instead of appealing on price events. Private Brands 22% 241 89 � Optimizing price/quality ratio through Licensee Brands 4% 15 12 better designs and materials. Other Brands 74% 2,424 1,172 Sales 2011 - Chile 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 4 New Stores 2012-2013 Costanera Center (2Q 2012) • Selling space m2 : 12,831 EN OPEN • Biggest store of Ripley • Higher income segment Concepción (3Q 2012) • Downtown Concepción • Total m2: 7,976 Ripley Costanera 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 NEW MALL Peru PERU Mall Aventura Plaza Santa Anita 40% owned by Ripley � 3Q 2012 � Selling Space: 58,000 m2 � Selling Space: 58,000 m2 � 2 mayor stores � 150 smaller stores � 8 cinemas 14
Ripley RETAIL BUSINESS Corp RETAIL BUSINESS (Local Currency) 2010 2011 1Q11 1Q12 Variation in retail sales Variation in retail sales 18.9% 18.9% 7.5% 7.5% 18.1% 18.1% 11.3% 11.3% RIPLEY Y CHILE Variation in retail SSS 17.6% 7.8% 18.0% 9.3% Inventory Turnover 4.0 3.9 4.3 3.9 Variation in retail sales 10.4% 16.7% 21.0% 13.3% RIPLEY PERU Variation in retail SSS 6.6% 5.8% 9.1% 12.3% Inventory Turnover 4.0 3.5 3.9 3.5 15
FINANCIAL BUSINESS 16
Ripley FINANCIAL BUSINESS Corp � Increasing the number of customers without increasing average debt per client. � Launching new Ripley Mastercard in Chile: � 3Q 2012 � 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. 17
Ripley FINANCIAL BUSINESS Corp FINANCIAL BUSINESS ($M) 2010 2011 1Q11 1Q12 Gross loan portfolio 392,000 385,558 378,977 361,356 Ripley Chile Credit Card Provisions 50,519 51,738 54,619 49,373 Provisions/Total Loan 12.9% 13.4% 14.4% 13.7% Number of credit cards with debt (Th) 1,180 1,152 1,118 1,080 Write-offs net of loans of write-offs 44,796 41,622 6,632 11,736 recoveries Bank Ripley Gross loan portfolio 199,128 207,519 199,916 210,232 Provisions 15,555 15,556 15,502 14,855 Chile Provisions/Total Loan 7.8% 7.5% 7.8% 7.1% Write-offs net of loans of write-offs 10,547 7,341 2,053 2,083 recoveries Gross loan portfolio 153,531 201,054 158,759 179,145 Bank Ripley Provisions 14,669 19,158 14,078 17,907 Provisions/Total Loan 9.6% 9.5% 8.9% 10.0% Peru Number of credit cards with debt (Th) 501 499 487 475 Write-offs net of loans of write-offs 9,475 12,996 2,095 4,609 recoveries 18
Ripley Chile STRONG RISK COVERAGE INDUSTRY BENCHMARK Ripley Cencosud Falabella Hites Walmart % % Loan % % Loan % % Loan % % Loan % % Loan Provisions Portf Provisions Portf Provisions Portf Provisions Portf Provisions Portf Not Delayed 9.2% 74.9% 2.2% 72.3% 0.7% 82.9% 2.6% 64.3% 1.1% 77.0% 1-30 11.9% 13.4% 8.3% 13.2% 4.7% 9.6% 10.8% 13.8% 12.5% 8.3% 31-60 22.5% 4.3% 24.1% 5.0% 16.7% 3.2% 25.3% 6.8% 22.6% 4.7% 61-90 61-90 39.8% 39.8% 2.7% 2.7% 37.3% 37.3% 3.4% 3.4% 34.1% 34.1% 1.7% 1.7% 36.7% 36.7% 6.0% 6.0% 40.9% 40.9% 3.1% 3.1% 91-120 53.5% 1.8% 48.5% 2.2% 62.9% 1.0% 48.0% 3.4% 55.8% 2.6% 121-150 67.2% 1.5% 59.3% 1.9% 76.5% 0.9% 55.8% 3.0% 73.2% 2.2% 151-180 85.4% 1.3% 60.1% 2.1% 96.4% 0.8% 68.3% 2.7% 84.8% 2.1% Total 13.7% 100.0% 8.6% 100.0% 4.1% 100.0% 12.2% 100.0% 9.1% 100.0% Provisions 49,373 31,024 48,363 15,120 27,607 Loan Portf 361,356 361,963 1,180,108 123,437 303,219 Total NPL $ 17,037 22,157 30,274 11,175 20,963 NPL/Total Loans (%) 4.7% 6.1% 2.6% 9.1% 6.9% Provisions/NPL 2.9 1.4 1.6 1.4 1.3 Ripley is the only player that makes a significant provision on not delayed portfolio Source: Companies financial statements as of March 2012 19 NPL: loans that are 90 days or more past due
RIPLEY COLOMBIA 20
Ripley RIPLEY COLOMBIA Colombia Bucaramanga 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) � 7 of the 13 main managers hired 21
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