23/07/2009 17:17 skiron\Roadshow\Presentación Roadshow Script 2.ppt

1

2

Agenda

4Operating and Financial Results by Business Unit - 2Q09

4Consolidated Financial Results - 2Q09

4Q & A

3

Progress continues in the implementation of ourcomprehensive plan to fight the economic crisis

1

2

3

Financing

Demand

Operation

► Conclude Banco Ahorro Famsa’s implementationMitigate refinancing riskReduce cost of funding

► Ensure liquidityReduce 2009 Capex: 5 new stores MX, 3 USASeek longer terms in fundingAchieve “Operation” goals

► Reactivate core product demand (durable goods)Implement cross-business/cross-product promotions (e.g. Multisorteo)Improve shopping experience and continue direct mktg efforts (e.g. Gran Crédito)

► Diversify exposure to durable good demand sensitivityReinforce personal loan offeringIdentify other products / services with good “fit” (e.g. insurance, optics, etc.)

► Achieve greater operating efficiencyAdjust operating capacity to current market conditions (e.g. payroll, advertising)Identify areas of opportunity in operating processes (e.g. credit centralization) Optimize the use of working capital (e.g. inventory)

► Ensure / protect the quality of our ReceivablesReinforce credit granting and collection processesMaintain a conservative perspective regarding credit granting

Grupo Famsa: 2008 - 2009 Initiatives

4

Grupo Famsa’s financial position will be reinforced through the recently approved Capital Stock Increase

Grupo Famsa: Balance SheetPesos (Thousands)

$1,200M

+1,200,000

-1,200,000 -1,200,000

Variance vs. 2Q09

1.8

7,332,922

13,520,014 7,080,918 6,439,096

20,852,936

2Q09

1.4

8,532,922

12,320,014 5,880,918 6,439,096

20,852,936

Capitalization(1)

(ProForma 2Q09)

5,327,623 3,131,671 Bank Deposits7,374,980 10,580,934 Debt & Other Liabilities

1.7 1.9 Debt to Equity ratio

7,375,381 7,294,969 Stockholder’s Equity

12,702,603 13,712,605 Total Liabilities

20,077,984 21,007,574 Total Assets

4Q08 1Q09

The intended debt reduction will strengthen Grupo Famsa’s financial position, allowing the company to access more attractive refinancing conditions and ultimately

continue its expansion plans during the eventual economic recovery.

1

(1) Assumptions: I - 100% Capital Stock subscriptionII - 100% of the proceeds used for debt reduction

Financing

5

The success of “InverCEDE Famsa 10-10”enhanced Banco Ahorro Famsa’s funding structure

391 478 599 837 891534

861 880

1,562

4,853

202

707

1,745

3,201

902

441

327

548

2Q08 3Q08 4Q08 1Q09 2Q09

$6,647

1

$6,575$5,474

$3,830

$2,522

$1,832$3,132

$5,328

$6,439

3Q08 4Q08 1Q09 2Q09

156117Avg Maturity (days)8.5

2Q091Q09

9.5Avg Cost of Funds (%)

$3,633 MInverCEDE10-10

Source: Banco Ahorro Famsa Source: Grupo Famsa

Banco Ahorro Famsa: Total Funding

Ban

king

Bra

nche

s

Deposits

Promissory notes & CDs

Interbank Loans

Promissory notes & CDs (Fin. Intermed.)

Pes

os (M

illion

s)

Grupo Famsa: Net Debt and Bank Deposits

BankDeposits

Net Debt

Pes

os (M

illion

s)

Financing

6

2

USA

Cross-product promotions - includes TV, Camcorder, Playstation or Xbox with Furniture purchase

“Bono Amigo” - $50 a $100 USD de descuento a través de la compra de un cliente referenciado

“Thousands of products for less than Ps$135 weekly payment”

“Multisorteo Millonario Famsacional”

159170Cashier pitch (Customers engaged, Thousand)

312275Telemarketing (Effective phone calls, Thousand)

856980Direct mail (Letters, Thousand)

309251Metacard (Total BAF PLCC customers, Thousand)

132

2Q091Q09

119Gran Crédito (Customer applications, Thousand)

Multiple efforts, in and outside our stores, continue in order to stimulate demand / consumers

Demand

7

Operational savings achieved through expense reduction efforts amount to more than Ps$90M

3 Operation

2Q08 2Q09

Pes

os (M

illion

s)

Famsa Mexico: Operational Expense Variance(1) Famsa USA: Operational Expense Variance(1)

- Ps$64.9M

2Q08 2Q09

- US$2.0M

USD

(Milli

ons)

(1) Excludes “non-operating” line-items/effects such as Uncollectibles, Depreciation and MXN/USD exchange rate volatility

8

Our retail network optimization continues; 5 storeswere closed in Mexico and 2 in the USA

410 412

2008 2009

+0.5%

-2-2-5-7

2Q09 Net

0000

Openings412-7Stores

-2-2-5

Closures

272Banco Ahorro Famsa52Famsa USA

360Famsa Mexico

Total

3

527.0 542.6

2008 2009

+3.0%

Note: YTD store closures: 10 Mexico, 2 USA

Total Stores(2 net additional stores in the last twelve months)

Num

ber o

f sto

res

Breakdown of Store Closure and Openings (2Q09)

Total Retail Area(15,600 net additional M2 in the last twelve months)

M2

(Tho

usan

ds)

Only older, smaller stores have been

closed; all of them near full-format Famsa stores

Operation

9

In spite of the Influenza outbreak and the economiccrisis, Famsa Mexico SSS improved vs. 1Q09

Famsa Mexico: Net Sales

100% 100%

17.3% 16.0%

18.0% 14.6%

17.2%14.6%

13.9%12.3%

33.7%42.5%

2008 2009

Note: Famsa MX 1Q09 SSS: -15.8%

$2,917 $2,637

$5,451$4,877

2Q08 2Q09 2008 2009

Peso

s (M

illio

ns)

Total: -9.6%SSS: -12.8% (1)

Total: -10.5%SSS: -14.1%

Famsa Mexico: % Share of Sales by Product Category

Others

Mobile Phones

Electronics

Furniture

Appliances% o

f Sal

es

10

Banco Ahorro Famsa holds 58% of the consolidated Receivables; more than 80% of the MX portfolio

$2,606$3,560 $3,723 $3,577

$6,776$5,846

$2,042 $1,826

$2,306$3,539

$6,999 $7,351

3Q08 4Q08 1Q09 2Q09

Banco Ahorro Famsa

Famsa Mexico

Famsa USA

$12,755

Grupo Famsa: Trade Accounts Receivable

Pes

os (M

illion

s)

11

Multiple retail and operational initiatives have limitedthe effects of the economic crisis on Famsa USA

Total: +32.7% (Pesos)Total: -1.3% (USD)SSS: -5.5% (USD)

$789

$1,047

$1,583

$2,183

2Q08 2Q09 2008 2009

% Famsa-to-

Famsa10.9% 5.9% 9.0% 4.9%

Total: +37.9% (Pesos)Total: +2.1% (USD)SSS: -6.1% (USD)

Famsa USA: Net Sales

Peso

s (M

illio

ns)

Famsa USA: % Share of Sales by Product Category

% o

f Sal

es

100% 100%

30.4%39.6%

40.7%33.4%

9.2% 8.1%9.0% 4.9%

10.7% 13.9%

2008 2009

OthersFamsa to Famsa

Electronics

Furniture

Appliances

Note: Famsa USA 1Q09 SSS: -6.6%

12

Agenda

4Operating and Financial Results by Business Unit - 2Q09

4Consolidated Financial Results - 2Q09

4Q & A

13

77.5% 69.1%

22.5% 30.9%

2008 2009

20.3% 23.7%

23.2% 20.7%

15.3% 12.5%

10.7% 8.3%2.1%

28.4% 33.3%

1.6%

2008 2009

-6.1%

-14.1%

-11.4%

2009

6.5%

1.0%

2.0%

2008

-5.5%-6.6%Famsa USA-12.8%-15.8%Famsa Mexico-10.6%-12.4%Total2Q091Q09

$3,710 $3,677

$7,048 $7,054

2Q08 2Q09 2008 2009

-0.9%

+0.1%

Famsa USA

Famsa México

Electronics

Appliances

Furniture

Famsa to Famsa

Other

Mobile Phones

Famsa USA: Share of Consolidated Net SalesSame Store Sales (%)

% o

f Sal

es

Peso

s (M

illio

ns)

Consolidated Net Sales Consolidated Product Mix

% o

f Sal

es

Net Sales

14

+5.5%

$1,805 $1,905

$3,412 $3,599

2Q08 2Q09 2008 2009

48.6% 51.8% 48.4% 51.0%

+5.5%

-12.1%

$435 $477

$789$694

2Q08 2Q09 2008 2009

+9.7%

+66.6%

$229

$716

$430$502

2Q08 2Q09 2008 2009

6.2% 13.6% 6.1% 10.1%

+119.3%-48.7%

$108

$58

$219

$112

2Q08 2Q09 2008 2009

2.9% 1.6% 3.1% 1.6%

-46.8%

11.7% 13.0% 11.2% 9.8%

Gross Income EBITDA

Comprehensive Financing Expense Net Income

Peso

s (M

illio

ns)

Profitability

15

$10,882

$12,755

2008 2009

$6,094

$2,522

$1,103$6,439

2008 2009

$2,551$2,169

2008 2009

$6,620$7,333

2008 2009

+17.2%

+24.5%

-15.0%

+10.8%

4.5% 6.2%

$7,197

$8,961

Bank Deposits

Net Debt

Main Balance Sheet Accounts

% Write-Off over Credit

Sales

Trade Accounts Receivable Inventories

Net Debt and Bank Deposits Stockholder’s Equity

Peso

s (M

illio

ns)

16

Agenda

4Operating and Financial Results by Business Unit - 2Q09

4Consolidated Financial Results - 2Q09

4Q & A