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GENERAL INFORMATION
The following material is submitted by way of general information regarding Controladora Mabe, S.A. de C.V., “Mabe”, as it stands to date. Said information is presented in a summarized fashion and is not intended
to be comprehensive. Nor does it constitute a recommendation for potential investors. This presentation is strictly confidential and shall not be divulged to any other person.
No representation or guarantee, either expressed or implied, is intentional, and its exactness, precision or comprehensive information herein presented shall not be emphasized. This presentation may contain
declarations that express the expectations of management regarding future events or results in lieu of historic events. These forward-looking declarations imply risk and uncertainty that may cause the real
results to differ materially from those forecast, and Mabe cannot ensure that said declarations will prove to be correct. These risks and uncertainties include factors related to all the economies where we
operate, which in turn may show volatility and may be adversely affected by factors pertaining to other countries, related to the business of retail sales, that by its very nature is cyclical and linked to the highly
competitive industry of which Mabe is a part and in which it operates.
COMMENTS ON FINANCIAL INFORMATION:
This presentation contains our unaudited financial information. EBITDA is not a measure of financial performance under IFRS and should not be considered as an alternative to net income or operating income as a
measure of operating performance or to cash flows from operating activities as a measure of liquidity. IFRS 16 became effective January 1st, 2019, this new standard affects the way leasing assets and liabilities
are reported in the Balance Sheet.
INDUSTRY & MARKET DATA:
Certain data is based on our estimates, which are derived from our review of internal surveys, as well as independent sources.
TERMS AND CONDITIONS OF USE:
Viewers or recipients of the information herein that do not agree with the term and conditions of use, should not utilize any information contained herein. Decisions based on information contained herein are the
sole responsibility of the person viewing it. In exchange for utilizing the information you agree to indemnify and hold Mabe, its officers, directors, employees, affiliates, agents, licensors and suppliers harmless
against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys' fees) arising from the use of the above mentioned information or from any decisions that the viewer makes
based on such information.
These terms and conditions and this Site are governed by the federal laws of Mexico applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably
submitted to the federal courts located in Mexico City for any disputes or matters arising from, connected with, or relating to this information or any related matters.
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Mabe focused on efficiency and liquidity
Volume and sales contraction of 26% vs 2Q19 affected by COVID
Aggressive SG&A’s control, helped to mitigate volume impact
and to protect the operating margins
EBITDA decrease of 11.8% Vs. 2Q19
Strong EBITDA margin of 9.6% (160 bps better than 2Q19)
Positive Free Cash Flow for the quarter driven mainly by
efficiencies in working capital
Reduced Net Debt by US$88MM from US$686 MM to US$598 MM
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North America Mexico
Latin America International
Cooking Refrigeration
Washing Others
63%
3%
12%
22%
TOTAL SALES 2Q20 BY REGION
33%
7%
29%
31%
TOTAL SALES 2Q20 BY SEGMENT
TOTAL NORTH AMERICA MEXICO LATIN AMERICA INTERNATIONAL
Sales Change vs 2Q19 (26%) (14%) (39%) (47%) (20%)
SALES BY SEGMENT TOTAL NORTH AMERICA MEXICO LATIN AMERICA INTERNATIONAL
Cooking 33% 38% 25% 19% 43%
Refrigeration 31% 27% 35% 49% 19%
Laundry 29% 33% 21% 19% 30%
Others 7% 2% 19% 13% 8%
2,959 3,069
3,284
844 621
-
FY17 FY18 FY19 2Q19 2Q20
11,419 11,176 11,393
2,905 2,159
FY17 FY18 FY19 2Q19 2Q20
5 Figures in US$MM, unless otherwise noted
V O L U M E ( U N I T S ) S A L E S
(25.7%)(26.4%)
240 258
296
67 60
8.1%8.4%
9.0%
8.0% 9.6%
FY17 FY18 FY19 2Q19 2Q20EBITDA % Margin
6 Figures in US$MM, unless otherwise noted
For purposes of this slide, EBITDA does not consider IFRS 16, which affects the way leasing assets and liabilities are reported
in the Balance Sheet.
(11.8%)
EBITDA % Margin
7 Figures in US$MM, unless otherwise noted* Covenants do not consider IFRS 16
CONCEPT 2Q20 2Q19 D VS 2019
Sales 621 844 (26%)
EBITDAR 66 73 (10%)
EBITDAR Margin 10.6% 8.7%
CapEx 24 22 10%
8 Figures in US$MM, unless otherwise noted.
9 Figures in US$MM, unless otherwise noted* Covenants do not consider IFRS 16
CONCEPT YTD20 YTD19 D VS 2020
Sales 1,299 1,545 (16%)
EBITDAR 126 127 (1%)
EBITDAR Margin 9.7% 8.3%
CapEx 57 51 11%
Net Debt 598 686 (13%)
Net Leverage * 2.05x 2.62x
Net Interest Coverage * 6.42x 4.56x
10 Figures in US$MM, unless otherwise noted.
370
175
15 30 30 30 30
8 8 8 2 3
2020 2021 2022 2023 2024 2026 2028
Notes 2028 Private Placement Club Deal LT Peru ST Debt CAD Loan
11 Figures in US$MM, unless otherwise noted.
Average life of debt: 5.9 yearsD E B T
Gross Debt: 781
Gross Debt: 888
4 12
165
Gross Debt: 927
ST Debt – COVID (maintain liquidity)
598
686
290
95
2Q20
2Q19
Net Debt Cash
637 290
Net Debt Cash
1Q20
High product demand from GE-Haier (US)
Mabe´s diversification markets and products partially offset the low
performance of countries most affected by COVID
Geographic location of our plants and suppliers are giving Mabe the
opportunity to continue production
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We expect a gradual recovery environment in LATAM
Mabe is taking advantage from all government´s aids to
protect our business
Mabe continues with heavily SG&A control and healthy financial
structure
F L O R E N C I A D E L A F U E N T ECorporate Treasury & Investor Relations Manager
Phone: +52 55 1100 3730
E-mail: [email protected]
L A U R A A L V I Z OTreasury & Investor Relations Jr. Manager
Phone: +52 55 9178 8268
E-mail: [email protected]
Av. Paseo de las Palmas 100, Lomas de Chapultepec I Sección, C.P. 11000, Ciudad de México, México.
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