Fallabela

EARNINGS RELEASE 2010 SACI Falabella

1 March 2011

Main Facts
Consolidated Income Statements

Business Units

Investment Plan

2

MAIN FACTS OF THE YEAR
• • • • Strong Growth in Revenues +16.6%, EBITDA 35.8% and Net Income 69.1% Investment Plan for 2010: 27 stores, 3 Shopping malls 16 stores and 2 Shopping malls were opened during the 4th Quarter UF 5.6 Million of corporate bondswere prepaid by Falabella ( 4.5 Mill) and Sodimac (1.1 Mill) Mall Plaza issued UF 5 Million in local bonds Falabella sold its stake in Farmacias Ahumada S.A.

• •

3

HIGHER REVENUES & EBITDA MARGIN
2.801

4th QUARTER

2.346

+ 19,4%
18,1%

16,4%

4Q 2009
Revenues

4Q 2010
EBITDA Mg (%)

FULL YEAR
8.117

9.467

+ 16,6 %
15,9% 13,7%

2009

2010
RevenuesEBITDA Mg (%)

4

(*) Revenues in MMUS$ translated at ER of December 2010

DIVERSIFICATION OF REVENUES
2009 MMUS$ 8.117
3,2% 6,2% 19,1%

2010 MMUS$ 9.467
4,6% 7,0% 18,7% Chile Perú Argentina Colombia 69,6%

71,5%

Higher growth of Revenues in Colombia
5
(*) IFRS Revenues in US$ translated at ER of December 2010

FINANCIAL SITUATION
LEVERAGE (times)
0,94 0,87 0,85 0,84  0,90

NETFINANCIAL LEVERAGE (times)
0,54 0,52 0,51 0,52  0,49 

Dic‐09

Mar‐10

Jun‐10

Sep‐10

Dic‐10

Dic‐09

Mar‐10

Jun‐10

Sep‐10

Dic‐10

Financial Debt / EBITDA (times)
3,34 3,15 2,91 2,69 2,39

DURATION: Increasing from 4,1x in 2009 to 4,6x in 2010

Dic‐09

Mar‐10

Jun‐10

Sep‐10

Dic‐10

NOTE: Banco Falabella Chile, Banco Falabella Perú and CMR Colombia are notincluded

6

Main Facts

Consolidated Income Statements
Business Units

Investment Plan

7

QUARTERLY INCOME STATEMENT
OCTOBER - DECEMBER of 2010
Mill of CLP Revenues from non banking Operations Revenues from banking Operations Total Revenues COGS from non banking Operations COGS from banking Operations Gross Margin SG&A Expenses Operational Income EBITDA Non-Operating ProfitProfit before tax expenses Income Tax Minority Interest Net Profit /(Loss)

4Q 2009
1.038.635 59.399 1.098.035 (672.438) (24.396) 401.200 (245.322) 155.878 179.979 868 156.746 (29.984) (12.732) 114.031

% Rev.

4Q 2010
1.244.067 66.938 1.311.005 (764.230) (25.317) 521.458 (312.812) 208.646 237.897 14.026 222.672 (37.856) (15.723) 169.092

% Rev.

Change 10/09

36,5% -22,3% 14,2% 16,4%0,1% 14,3%

39,8% -23,9% 15,9% 18,1% 1,1% 17,0%

19,8% 12,7% 19,4% 13,7% 3,8% 30,0% 27,5% 33,9% 32,2% 1515,6% 42,1% 26,3% 23,5% 48,3%

10,4%

12,9%

8

CUMULATIVE INCOME STATEMENT
CUMULATIVE JANUARY - DECEMBER of 2010
Mill of CLP Revenues from non banking Operations Revenues from banking Operations Total Revenues COGS from non banking Operations COGS from banking Operations GrossMargin SG&A Expenses Operational Income EBITDA Non-Operating Profit Profit before tax expenses Income Tax Minority Interest Net Profit /(Loss)

2009
3.575.153 223.817 3.798.970 (2.383.579) (99.299) 1.316.092 (901.061) 415.031 519.054 2 88 (66.318) 348.713 (72.307) (31.949) 244.458

% Rev.

2010
4.179.424 251.005 4.430.429 (2.725.727) (91.938) 1.612.764 (1.017.822) 594.942 704.737 0 9 (48.181)546.761 (93.482) (39.931) 413.347

% Rev.

Change 10/09

34,6% -23,7% 10,9% 13,7% -1,7% 9,2%

36,4% -23,0% 13,4% 15,9% -1,1% 12,3%

16,9% 12,1% 16,6% 14,4% -7,4% 22,5% 13,0% 43,3% 35,8% -27,3% 56,8% 29,3% 25,0% 69,1%

6,4%

9,3%

9

Main Facts

Consolidated Income Statements

Business Units
Investment Plan

10

DEPARTMENT STORES
CUMULATIVE REVENUES (MMUS$*)
2.892 +21,9 % 3.525 1.681 + 18,2 % 1.987 629 705 376 473 206 360

•

Strong Revenues’ Growth
– SSS increase in every country during 2010 – Strong contribution of Colombia

Total

Chile

•
+ 12,1 %

Positive Outlook
– Consumption Dynamism – Efficient Inventory management – Low exchange rates

Perú

Argentina

+ 25,9 %

2009

2010

Colombia

+ 74,9 %

11
(*) IFRS Revenues...