Cambio en política de castigos

RIPLEY CORP
CONTENTS
RIPLEY CORP
2010 FOCUS
CONCLUSIONS
Our Assets
• Revenues: US$ 1,751 m
• Loans Portfolio: US$ 1,400 m
• 1.8 million of customer using Tarjeta Ripley
• 51 stores in the best places of Chile and Peru with
more than 344,000 sqm of selling space
• 112,000 sqm of weighted selling space in shopping
malls
• 48 branches of Banco Ripley in Chile
• 16 branches of Banco Ripley in Peru
• Second place on TOM in Chile
• Most recognized brand on retail business in Peru
54 years of History
1956
First store in Santiago
Credit business beginning
1985
First department store
First store outside Santiago
1993
4
2003
Ripley Corp IPO
First store outside Lima (Trujillo)
First shopping mall of Aventura Plaza S.A. JV in Peru
2009
1997
Insurance brokerage and e-commerce
Opening of Hong Kong office / local bond of UF 6,500,000 (MUS$257)
2005
1986
Ripley Parque Arauco biggest store in South America / New image positioning
First store in Peru
2000
1976
2007
Acquisition of 22.5% of Nuevos Desarrollos S.A.(Plaza Alameda, Plaza
Sur and future developments)
Sale of the participation in Mall Calama, Mall del Centro, Mall del Centro
Rancagua and Mall Panoramico
Opening Los Andes store in Chile and Chiclayo store in Peru
Shareholders Structure
• Calderon family has been connected to the retail business for over 50 years
Major Shareholders
Free Float*
Pension
Funds
7.5%
Free Float
14.5%
International
Investors
5.1%
Mutual Funds
7.7%
Calderon Group
65.5%
5
Saieh Group
20.0%
Stockbrokers
& Retail
77.7%
*As of December 30st 2009
Insurance
Companies
2.0%
Business Units
6
Retail Business
Chile
Peru
Revenues evolution MUS$
629
717
740
852
953
1032
1042
1096
Revenues evolution MUS$
966
552
940
129
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Second place on TOM
7
214
272
315
337
329
359
392
431
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Second largest department store company
• 39 stores
• 12 stores
• Selling space 237,210 sqm
• Selling space 106,575 sqm
• 25% Market Share
• 46% Market Share
Figures in real Chilean pesos as of Dec-09 converted to US$ using Dec 30th FX of $507.10/US$
Financial Retail Business
Chile
Peru
Revenues and Net Loan Portfolio
1,272
Revenues and Loan Portfolio
1,219
1,121
201
400
1,044
901
350
588
47
200
52
64
100
76
378
150
281
100
186
207
223
260
303
2002
2003
2004
2005
2006
338
409
374
50
80
105
118
154
50
267
205
Tarjeta Ripley Net Loan Portfolio
2008
2009
0
-50
-100
0
2007
200
150
97
250
424
147
118
300
717
250
2002
Banco Ripley Loan Portfolio
2003
2004
2005
Financial Revenues
2006
2007
2008
2009
Loan Portfolio
Financial Revenues
Important actor in consumer loan market
• Gross Loan Portfolio of Tarjeta Ripley: US$ 719 m
• Gross Loan Portfolio of Banco Ripley: US$ 414 m
Fourth player in credit cards loan market
• Gross Loan Portfolio of Tarjeta Ripley: US$ 267 m
• 2.3 million cards issued
• 5.8 million Tarjeta Ripley cards issued
8
Figures in real Chilean pesos as of Dec-09 converted to US$ using Dec 30th FX of $507.10/US$
Real Estate Business
Strategy is focus in participating in
the development of new projects
with higher profitability with the
leading group of the industry
• Property of 22.5% of Nuevos Desarrollos S.A.
belonging to Grupo Plaza
• 2 shopping malls
• 5 sites for development
• Property of 40% in JV Aventura Plaza S.A. with
Falabella and Grupo Plaza in Peru
• 2 shopping malls
• 2 in construction and other 4 planned to be
opened before 2014
• 33% of property of Mall Marina Arauco and Curico
9
* Weighted by ownership %
CONTENTS
RIPLEY CORP
2010 FOCUS
CONCLUSIONS
Chile
Increase
Profitability
Increase Profitability
12
1
SETTING OUR VALUE PROPOSAL
TO CURRENT WOMEN NEEDS
2
3
INTEGRATION &
FOCUS ON CUSTOMER
THE FAT WAS REMOVED,
NOW GOING FOR MUSCLES
SETTING OUR VALUE PROPOSAL
TO CURRENT WOMEN NEEDS
Retail Business
• The Company was reorganized focused on
the main value source: “The Women”
• Adding new brands and increasing the value
of current ones
• Increasing the number of clothing collection
per season
• Optimizing price/quality ratio through better
design and materials
• Leaving behind the image of “Outlet Store”
• Improving the shopping experience:
- Store remodeling
- Simple and friendly store; not overloaded
- Vendors training
- Internet site upgrade
• Strong retail area, highly experience
professionals
13
13
INTEGRATION &
FOCUS IN CUSTOMER
Financial Business
• Change of business Model
- Everything happens in the store
- Integral Vendors
• Increasing client base focused in:
- New program “Captación express”
- Valuable Alliances
- More transactions
Tarjeta Ripley must be in client wallet
• Strong Loyalty Program
- Rewards the client, not just the cardholder
• Competitive pricing strategy by
customer segment
14
THE FAT WAS REMOVED,
NOW GOING FOR MUSCLES
Optimization
• Great potential for growth
in our existing selling
space
• FIT Program 2.0:
optimization process
• “State of the art” software
15
2009 Retail Business Numbers
24%
Retail margin increased
12% last quarter
16
Figures in real Chilean pesos as of Dec-09 converted to US$ using Dec 30th FX of $507.10/US$
2009 Financial Business Numbers
5%
45%
97%
17
2010
PROFITABLE AND
SUSTAINABLE
GROWTH
18
Peru
Increase
Selling
Space
Increase Selling Space
1
2
3
20
EXCELLENT POSITION TO
CAPTURE VALUE IN A GROWING
MARKET
THERE STILL IS SIGNIFICANT
SPACE TO GROWTH
LOW PENETRATION OF
CONSUMER LOANS
EXCELLENT
POSITION TO
CAPTURE VALUE
• 13 years in the Peruvian market
• Most recognized brand on retail business in
Peru
• 12 stores
• 106,000 sqm of selling space
• 16 branches of Banco Ripley
• 900,000 customer using Tarjeta Ripley
• Loans Portfolio: US$ 267 m
• JV with Aventura Plaza, the more
efficient shopping mall operator in Peru
21
THERE STILL IS SIGNIFICANT SPACE
TO GROWTH
Selling Space
(Retail)
Selling Space per Inhabitant
(sqm / 1000 inhab.)
50
847.445
4x
7x
197.167
7
Peru
22
Source: Ripley
Chile
Peru
Chile
We know our Customer…
Chiclayo Store
23
…and the Customer know us
Trujillo Store
24
LOW PENETRATION OF
CONSUMER LOANS
Consumer Loans per Inhabitant (US$)
25
Source: FMI, BCRP, BCChile
Consumer Loans/GDP(%)
2009 Retail Business Numbers
• Crisis effect arrived later and softer to Peru
• 5% reduction in SGA/sqm in
Peru, continuing previous
quarters trend
26
2009 Financial Business Numbers
24%
• Retail revenues increased 5,6% in Soles versus 4Q2008
• Provision expense decreased 68% in Soles versus 4Q2008
• SGA decreased 8.5% measured in Soles
27
Duplicate
selling
space in
2013
To maintain
today’s Ripley
leadership
position in Peru
28
CONTENTS
RIPLEY CORP
2010 FOCUS
CONCLUSIONS
Duplicate
Company
Value
30
Contact Information
Speaker
Juan Diuana – CFO Ripley Corp
More Information
www.ripley.cl
Investor Relations Contact
[email protected]
(56-2) 694 1042
31