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mall marina arauco
Ripley Corp 15th Annual Latin American CEO Conference January 11-13, 2011 Santander Contents RIPLEY CORP RIPLEY CHILE RIPLEY PERU 3Q2010 RESULTS 2 Ripley Corp assets Revenues Sept-2010 LTM: MMUS$2,220 2 million customers using Tarjeta Ripley Second place on TOM in Chile Most recognized brand in department store in Peru Market Cap Sept-2010: MMUS$ 2,600 Retail Business 54 stores in the best commercial areas of Chile and Peru 367,000 m2 of selling space Financial Business Loan Portfolio: MMUS$ 1,418 48 branches of Banco Ripley in Chile 16 branches of Banco Ripley in Peru Real Estate Business Participation in 7 shopping malls 134,000 m2 weighted selling space in shopping malls 15 owned stores 3 Figures in nominal CLP converted to US$ using Sept 30th FX rate of $483.65/US$ 54 years of history 2010 1986 2002 Barros Arana First Department Store outside Santiago Banco Ripley Chile 1985 Insurance brokerage business starts Internet Store First Store opened in Chile 4 Chile Acquisition of 22.5% of Nuevos Desarrollos S.A. and sale of the participation in mature malls 2007 1997 1976 1956 2009 2000 San Diego First Department Store in Santiago Credit business starts Financial Statement under IFRS Peru 3 new store opening Ripley Jockey Plaza First Department Store in Peru 1993 Parque Arauco Ripley Chile begins its new positioning Peru: First Mall of Aventura Plaza S.A. 2005 Ripley Corp: IPO Shareholders structure Calderon family has been connected to the retail business for over 50 years Major Shareholders 5 *Figures as of Dec 29th, 2010 Free Float* Ripley Corp – Revenues & EBITDA 6 Total Revenues LTM EBITDA LTM US$ 2,220 million US$ 183 million Figures in nominal CLP converted to US$ using Sept 30th FX rate of $483.65/US$ Contents RIPLEY CORP RIPLEY CHILE RIPLEY PERU 3Q2010 RESULTS 7 0 Retail Business Focused on the main value source: “The Client” Adding new brands and increasing the value of current ones Increasing the number of clothing collections per season Optimizing price/quality ratio through better design and materials Improving the shopping experience Store remodeling 8 0 Retail Business Important increase in sales, accompanied by higher growth in the retail margin New distribution center 0 Financial Business Increasing portfolio through wider client base Ripley Chile Gross Loan Portfolio MMUS$ Integration Focused on store customer The best of both worlds in one Controlled risk Increasing portfolio through wider client base Loyalty Program Controlled Risk 10 Figures in nominal CLP converted to US$ using Sept 30th FX rate of $483.65/US$ Real Estate Business Focus in the development of new projects with higher growth Strategy is to focus in the development of new projects with higher growth with the leading company of the industry Chile Property of 22.5% of Nuevos Desarrollos 2 shopping malls 5 sites for development 33% of Mall Marina Arauco and Curico Mall Concepcion Chile S.A. Selling Space (m2) Ownership (%) Marina Arauco 57,968 33.0 Mall del Centro de Curico 45,911 33.0 Mall Plaza Sur 74,583 22.5 Mall Plaza Alameda 57,355 22.5 Total Chile* 63,966 11 * Weighted by ownership % Mall Concepcion - Relaunched 9 90,000 m2 selling space 9 2 anchor stores (Ripley & Jumbo) 9 85 minors stores 9 6 cinemas 9 Tower of 22 floor 9 2,000 permanent employees 9 Investment US$100 million 9 Estimated flow of 1 million visits per month 12 Contents RIPLEY CORP RIPLEY CHILE RIPLEY PERU 3Q2010 RESULTS 13 0 Retail Business Duplicating selling space 15 stores in the best commercial areas of Peru 130,000 m2 of selling space Most recognized brand in department stores in Peru 11 new stores in Peru between 2010 - 2013 14 Financial Business Growth the loan portfolio with controlled risk Ripley Peru Gross Loan Portfolio MMUS$ Increasing portfolio through wider client base Integration Focused on store customer The best of both worlds in one Controlled risk 15 Figures in nominal CLP converted to US$ using Sept 30th FX rate of $483.65/US$ 0 Real Estate Business Focus in the development of new projects with higher growth Strategy is to focus in the development of new projects with higher growth with the leading company of the industry Peru Property of 40% of Aventura Plaza S.A. 3 shopping malls 1 in construction 3 sites for development Selling Space (m2) Ownership (%) Aventura Plaza Trujillo 44,114 40.0 Aventura Plaza Bellavista 76,460 40.0 55,000 40.0 Peru Aventura Plaza Arequipa Total Peru* 16 * Weighted by ownership % 70,230 Contents RIPLEY CORP RIPLEY CHILE RIPLEY PERU 3Q2010 RESULTS 17 Ripley Corp – Results Revenues increased 5.6% and 8.3% versus 9M2009 and 3Q2009 EBIT rose US$134 million on 9M2010 EBITDA reached US$129 million on 9M2010 18 Figures in nominal CLP converted to US$ using Sept 30th FX rate of $483.65/US$ Ripley Corp – Revenues breakdown Retail revenues increased in both countries significantly, with better margins Financial revenues decreased in both countries, but loans portfolio continued the positive trend There are no real estate revenues due to the sales of the malls in the first half of 2009 19 Figures in nominal CLP converted to US$ using Sept 30th FX rate of $483.65/US$ 0 Banco Ripley Chile Consistently improving results Change in business model lead to consistent results improvement and controlled risk 20 Figures in nominal CLP converted to US$ using Sept 30th FX rate of $483.65/US$ Investment Plan & Conclusions 21 Ripley Corp – Stores opening Chile 2010 - 2013 Peru 2010 9 4 Stores 9 Ripley Piura 9 Ripley Arequipa (Aventura Plaza) 9 Ripley Lima Peru 2011 - 2013 9 8 Stores 22 Ripley Corp – Investment Plan 2010 - 2013 (MMUS$) Investment Plan 2010 – 2013 for a total amount of US$ 1,136 million including CAPEX and working capital 23 Figures in nominal CLP converted to US$ using FX rate of $500/US$ Ripley Corp - Conclusions 2010 -2013: Sustainable growth and profitability Improving Ripley Corp profitability Adding new brands and increasing the value of current on Growth sales accompanied with better retail margin Increase portfolio through wider client base Improve efficiency Increasing selling space in Peru 8 new openings in Peru 4 new stores in Chile 24 Contact Information Speaker Juan Diuana – Ripley Corp CFO More Information www.ripley.cl Investor Relations Contact Alexander Cahn ir@ripley.cl (56-2) 694 1042 25 Disclaimer This presentation contains forward-looking statements, including statements regarding the intent, belief or current expectations of the Company and its management. Investors are cautioned that any such forward-looking statements are not guarantee of future performance and involve a number of risks and uncertainties including, but not limited to, the risks detailed in the company’s financial statements, and the fact that actual results could differ materially from those indicated by such forward-looking statements. 26
Focused on the main value source: “The Client”
