3. Highlights in the Period
• In May 2011, Profarma celebrates its 50th Anniversary. The Company’s result-oriented culture, coupled with a long-term
vision based on everyday practical and objective initiatives, will be crucial to continue consolidating its position in the
pharmaceutical distribution industry in Brazil;
• A rise of 1.7% in the consolidated gross revenues when compared to the same period in the previous year, totaling R$
778.8 million;
• Highlight for the Health and Beauty category, which showed growing sales for the fifth consecutive quarter, and an
outstanding increase of 78.0% in comparison with the same period in the previous year;
• A drop of 31.4% in the EPM (Errors Per Million of shipped units), which changed from 210.0 recorded in the 1Q10 to 144.0
in the 1Q11;
• The annual prices increase occurred in March 31, 2011 was 4.6%, in line with the inflation accrued over the last 12
months. This is the second higher price increase over the last five years.
3 3
7. Gross Profit and Revenues from Services to Suppliers
(R$ million and as % Net Revenues)
10.4%
10.1%
9.6%
20.0 28.4
24.0
46.5 41.7 39.1
1Q10 4Q10 1Q11
Gross Profit Revenues from Services to Suppliers Gross Profit Margin (%)
7 7
8. Operating Expenses
(R$ million and as % Net Revenues)
7.5% 7.4% 7.7%
51.5 50.7
48.1
1Q10 4Q10 1Q11
8 8
9. Ebitda and Ebitda Margin
(R$ million and as % Net Revenues)
2.8% 2.7%
1.7%
17.9 18.6
10.9
1Q10 4Q10 1Q11
9 9
10. Net Financial Expenses
(R$ million and as % Net Revenues)
0.9% 1.1%
0.8%
7.2
6.0
5.4
1Q10 4Q10 1Q11
10 10
11. Net Profit
(R$ million and as % Net Revenues)
1.2% 1.5%
0.3%
10.5
7.8
2.2
1Q10 4Q10 1Q11
11 11
13. Cycle IFRS Basis
1Q10 4Q10 1Q11
Cash Cycle (Days) * 64.9 49.0 64.5
Accounts Receivable (1) 43.4 43.6 43.9
Inventories (2) 59.9 52.0 59.3
Accounts Payable (3) 38.4 46.6 38.7
* Average
(1) Average of Gross Revenues in the Quarter
(2) Average of COGS in the Quarter
(3) Average of COGS in the Quarter
13 13
14. Indebtedness: Net Debt and Net Debt / Ebitda*
(R$ million)
2.7x
1.5x 1.4x
194.8
167.3
108.7
1Q10 4Q10 1Q11
* Ebitda = Accumulated last 12 months
14 14
15. Capex
(R$ million and % as Net Revenues)
0.5%
0.2% 0.2%
3.5
1.5 1.3
1Q10 4Q10 1Q11
15 15
16. Operating Indicators
Service Level Logistics E.P.M.
(Units served/ Units requested) (Errors per Million)
92.3% 210.0
170.0
89.5%
144.0
88.1%
1Q10 4Q10 1Q11 1Q10 4Q10 1Q11
16 16
