earnings%20 release%201 q09%20 %20 presentation
TRANSCRIPT
EarningsEarnings ReleaseRelease
1Q091Q09
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Disclaimer: Disclaimer: This presentation contains forward-looking statements
relating to the business outlook, operating and financial projections, and the growth prospects of Tempo Participações S.A. These statements merely represent projections and as such are based exclusively on Management’s expectations about the future of the
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business. Such forward-looking statements depend substantially on changes in market conditions, the performance of the Brazilian economy, the industry and international markets, and therefore are subject to change without prior notice.
AboutAbout TempoTempo
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HighlightsHighlights
New Assistance Contracts: Tempo signed news contracts with Minas Brasil (Zurich Group) and Bancodo Brasil;
Stock Buyback Program: In 1Q09, Tempo purchased 2,6MM TEMP3 shares representing a R$7,5MMinvestment;
EBITDA: Posted a solid growth of 10,7% QoQ, reaching R$18MM;
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EBITDA: Posted a solid growth of 10,7% QoQ, reaching R$18MM;
EBITDA Margin: Increase of 1,1 p.p. QoQ at 10,4% margin.
Tempo Tempo ConsolidatedConsolidated
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HealthHealth SegmentSegment
Beneficiaries (in Millions)
Soft growth of 2,2% in the HealthSegment´s beneficiaries base.
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Net Revenues (in R$Million)
Higher medical utilization by our clients hada positive impact in net revenues.
HealthHealth SegmentSegment
Cost of Rendered Services (in R$Million) SG&A Expenses (in R$Million)
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EBITDA (in R$Million)
Higher medical utilization by Gama SaúdeClients (worsened ebitda margin)
Processes internalization in Gama Saúde toimprove its service level
Efectiva increase in loss ratio driven byintegration & investments to improve theservice provided
Dental Dental SegmentSegment
Beneficiaries (in Millions)
Strong growth in total lives coveredreaching 849 thousand lives.
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Dental Dental SegmentSegment
Net Revenues (in R$Million)
The Dental Segment in the 1Q09 grew68,4% QoQ, showing significant gainsdirectly correlated with its growingbeneficiary base.
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beneficiary base.
Dental Dental SegmentSegment
Through M&A activity, Tempo changedits Dental business model, impacting itsloss ratio profile
Cost of Rendered Services (in R$Million)
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Dental loss ratio track record
Dental Dental SegmentSegment
Selling, General & Administrative Expenses (in R$Million)
SG&A had a determinant impact drivenby M&A activity in 2008.
SME clients and Affinity channel demandhigher investments in brokerage fee andcommissions
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Increase of 22,9% in the DentalSegment´s EBITDA reaching R$5,0MM.
Ebitda margin impacted by SG&Aexpenses
commissions
EBITDA (in R$Million)
AssistanceAssistance SegmentSegment
Items (in Millions)
Assistance 1Q09 impacted by Bradescocontract termination.
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Net Revenues (in R$Millions)
Accounting changes translates in aincrease in Net Revenues
Costs of Rendered Services (in R$Million)
AssistanceAssistance SegmentSegment
Accounting changes translates in aincrease in cost of rendered services
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Assistance Loss Ration Curve adjusted to accounting changes
AssistanceAssistance SegmentSegment
Selling, General & Administrative Expenses (in R$Million)
Strong improvement in SG&A marginboosted by efficiency processes (5p.p.margin improvement).
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Robust growth in EBITDA, posting25.3% growth over the same period in2008, despite the reduction in top-line.
EBITDA (in R$Million)
CAPEXCAPEX
CAPEX
Tempo ended 1Q09 with CAPEX at R$1,9 Million representing 10,6%of Adjusted EBITDA.
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BuybackBuyback ProgramProgram & TEMP3& TEMP3
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Tempo ParticipaçõesTempo Participações
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