Resultados 4T12 e ano de 2012

8 de março de 2013

Results 2Q13

8 August 2013

• Net income of R$0.5 million in 2Q13, reversing the negative net income

of 1Q13;

• Increase of 6.3 p.p. in the EBITDA margin compared to 1Q13;

• Net revenue in 2Q13 rose 9.0% over 1Q13;

• Issuance of 900,000 cards in May 2013, the largest monthly issue over

the past two years;

• New clients: Banco Fibra’s card processing implementation, conquer of

five clients for the Opte+ platform and two clients by CSU Contact.

• Implementation of the operating costs and administrative expenses

reduction program.

CARD3

2

Highlights 2Q13

93,564

88,532

96,534

4Q12 1Q13 2Q13

3

Gross Revenue

(R$ thousand)

Gross Profit and Gross Margin

(R$ thousand and % of Net Revenue)

16,967

10,333

14,083

19.7%

12.6%

15.8%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

-

5,000

10,000

15,000

20,000

4T12 1T13 2T13

Gross Profit Gross Margin

Gross Revenue

• An increase of 9.0% over 1Q13;

• A 3.2% growth compared to 4Q12;

Gross Margin

• An increase of 3.2 p.p. in 2Q13 when

compared 1Q13.

15,868 13,181

10,950 18.4%16.1%

12.3%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

-

5,000

10,000

15,000

20,000

4Q12 1Q13 2Q13SG&A SG&A/N.R.

EBITDA and EBITDA Margin

(R$ thousand and % of net revenue)

Operational Expenses (SG&A)

(R$ thousand)

Operational Expenses

• Reduction of R$2.2 million or 16.9% on

sales, general and administrative expenses

over 1Q13;

• Represented 12.3% as of net revenue in the

quarter, a reduction of 3.8 p.p. over 1Q13;

EBITDA and EBITDA Margin

• EBITDA in the 2Q13 reached R$9.7 million,

an 19.4% increase over 4Q12;

• Growth of 6.3 p.p. on EBITDA margin

reaching 10.9% in comparison to 1Q13. 4

8,104

3,721

9,680

9.4%

4.6%

10.9%

1,0%

3,0%

5,0%

7,0%

9,0%

11,0%

-

2.000

4.000

6.000

8.000

10.000

4Q12 1Q13 2Q13EBITDA EBITDA Margin

• Investments totaled R$ 6.7 million in

2Q13;

• CardSystem: maintenance capex

and additional functionalities to new

projects;

•Contact: hardware to implement new

contracts.

5

Investments

(R$ million)

• R$3.1 million paid on loans and financing amortization;

• R$1.4 million invested in the share buyback program;

• Investments on the new IT services unit expected for the 3Q13.

Investments

4.4 4.0 5.5 6.2 5.4

0.7 0.7

1.3

2.7

1.3

2Q12 3Q12 4Q12 1Q13 2Q13

CSU CardSystem CSU Contact

5.1 4.7

6.8

8.9

6.7

48,263 41,434 44,565

4Q12 1Q13 2Q136

20,6%

Gross Revenue

(R$ thousand)

Billed Cards

(in million units)

Billed Cards

• Implementation of Banco Fibra;

• Issuance of 900 thousand cards, the

largest monthly issue over the past two

years;

• Billed cards increased 12.0% compared

to 4Q12;

Gross Revenue

• Gross revenue was 7.6% higher when

compared to 1Q13.

12.012.4

13.4

4Q12 1Q13 2Q13

Gross Profit and Gross Margin

(R$ thousand and % of Net Revenue)

11,780

5,938

8,406

26.6%

15.6%

20.6%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

(1,000)

1,000

3,000

5,000

7,000

9,000

11,000

13,000

15,000

4Q12 1Q13 2Q13Gross Profit Gross Margin

EBITDA and EBITDA Margin

(R$ thousand and % of Net Revenue)

Gross Profit and Gross Margin

• Gross profit increased 41.6% over 1Q13;

• Gross margin was 5.0 p.p. higher than 1Q13;

EBITDA and EBITDA Margin

• EBITDA reached R$ 7.1 million, strong

expansion in comparison to 1Q13 and in line

with the 4Q12 EBITDA ;

• 2Q13 EBITDA margin was greater than 1Q13

and 4Q12.

7,299

3,679

7,125

16.5%

9.7%

17.4%

1.0%

6.0%

11.0%

16.0%

21.0%

0100020003000400050006000700080009000

10000

4Q12 1Q13 2Q13

EBITDA CSU CardSystem

EBITDA EBITIDA Margin7

Number of Transactions– CSU Acquirer

(100 Basis)

8

MarketSystem

• 4 months of the Opte+ platform launch;

• Conquer of 5 clients, among them: Banpará,

Porto Seguro, Banrisul e Santos Futebol Clube;

Acquirer

• A sharp ramp-up in the number of transactions is

still observed;

• A 29.9% increase in the transactions’ number

compared to 2Q13.

100 170

685

1,003

1,303

2Q12 3Q12 4Q12 1Q13 2Q13

2,526 2,563 2,525

4Q12 1Q13 2Q13

9

Number of Workstations

(units - average)

Gross Profit and Gross Margin

(R$ thousand and % of net revenue )

45,301 47,098 51,969

4Q12 1Q13 2Q13

Gross Revenue

(R$ thousand)

5,187 4,395

5,677

12.4%10.0%

11.8%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

4Q12 1Q13 2Q13Gross Profit Gross Margin

• Two new clients;

• Gross revenue growth of 10.3% when

compared to 1Q13 and 14.7% when

compared to 4T12;

• Gross margin increase of 1.8 p.p. in 2Q13

vs. 1Q13;

• EBITDA of R$2.6 million in this quarter, a

contribution of 26.4% to the total EBITDA.

10

Strategic Guidelines

Short term actions

New revenue sources identification

Action plan to reduce operational costs and

administrative expenses

Employees review

Review of operational processes and

contracted services

Strategic guidelines

Revenue sources diversification

Expansion to higher margin businesses

Launch of new, more efficient products

and services

Strict management of investments and

expenses

New revenue sources

indentification

Banco Fibra

5 Opte+ clients 2 Contact clients

Net Revenue

+ 9.0%

Reduction of operational costs

and administrative expenses.

Dismissal of120 employees

Renegotiation with suppliers

Costs¹ - 3,2 p.p.

SG&A¹ - 3,8 p.p.

EBITDA¹ + 6,3 p.p.

11

Short Term Actions

¹ as a percentage of 2Q13 net revenue

compared to 1Q13

Fábio Bueno

Antonio N. Donato Filho

Investment Relations

Telephone no.: (55 11) 2106-3743

E-mail: ri@csu.com.br

Site: www.csu.com.br/ri

This material is property of CSU CardSystem S.A. Partial or total reproduction of this material without prior written approval

by the Company is forbidden. All rights reserved. The opinions expressed in this document may change at any time without

prior notice.

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Additional information