30/04/2009 10:21 skiron\Roadshow\Presentación Roadshow Script 2.ppt

1

2

Agenda

4Operating and Financial Results by Business Unit - 1Q09

4Consolidated Financial Results - 1Q09

4Q & A

3

The implementation of a comprehensive plan tofight the economic crisis has had solid progress

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 liquidated Ps$2,339 million in CerBursand Bank debt; BAF deposits increased 70%

Grupo Famsa: Net Debt and Bank Deposits

$6,094 $6,575$5,474

$3,830

$1,103

$1,832$3,132

$5,328

2Q08 3Q08 4Q08 1Q09

BankDeposits

Net Debt

Financing1

$4,316$3,500

$1,277

$572

$1,000

$182

4Q08 1Q09

Pes

os (M

illion

s)

Grupo Famsa: Commercial Paper and Bank Debt

Bank debt

CerBur VectorCerBur IXE

(1) Does not include Banco Ahorro Famsa’s Interbank loans

-$2,339

(1)(1)

Pes

os (M

illion

s)

5

In February, BAF launched inverCEDE 10-10 toreduce avg. cost of funding and increase maturity

290 391 478 599 837308534

861 880

1,562

202

707

1,745

3,201

441

327

548

1T08 2T08 3T08 4T08 1T09

Funding: Banco Ahorro Famsa

$6,148

1

Ban

king

Bra

nche

sIMAGEN

INVERCEDE 10-10

Financing

Deposits

Promissory notes & CDs

Interbank Loans

Promissory notes & CDs

Pes

os (M

illion

s)

6

Metacard - 251K customers with PLCC emitted by BAF (enhanced shopping experience)

Gran Crédito - 127K customer applications

Direct Mail - 980K letters

Telemarketing - 275K effective phone calls

Cashier pitch - 170K customers

“Multisorteo Millonario Famsacional”

“Confianza” - “Trust” is foundation for advertising

Multiple efforts, in and outside our stores, are being implemented to stimulate demand / consumers

Demand2

USA

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

Repurchase promotions - no down payment, reduced rate for “Select” customers near liquidation

7

Satisfactory progress has also been achieved from cost reduction and expense control efforts

Grupo Famsa: 1Q09 Operating Expense Variance (%)

Operation3

-54.7%-27.9%Travel Expenses

-47.8%-29.0%Parcel Services

-51.2%-13.4%Office Supplies

-13.8%-0.4%Payroll

1Q09 vs. 1Q08 1Q09 vs. 4Q08

-26.9%-27.6%Fuel

-26.9%-33.3%Office Supplies

-38.9%-29.6%Travel Expenses

-44.2%1Q09 vs. 4Q08

-5.4%1Q09 vs. 1Q08

Advertising

8

5 stores were closed in Mexico and 2 stores in California have initiated their closure process

405 418

1Q08 1Q09

+3.2%

Total Stores(13 new stores in the last twelve months)

Num

ber o

f sto

res

-31

-4-3

Net 1Q09

4055

Closed4182Stores

111

Opened

274Banco Ahorro Famsa (1)

53Famsa USA365Famsa Mexico

Total

Breakdown of Store Closure and Openings (1Q09)

Operation3

515.8 546.5

1Q08 1Q09

+5.9%

Total Retail Area(30,700M2 added in the last twelve months)

M2

(Tho

usan

ds)

Only older, smaller stores have been

closed; all of them near full-format Famsa stores

(1) Banking branches are installed within Famsa Mexico stores, and therefore do not increase retail area

9

Strong macro pressure over consumption continued impacting Famsa Mexico’s sales and mix

% o

f Sal

es

100% 100%$2,534

$2,240

1Q08 1Q09

Peso

s (M

illio

ns)

18.6% 17.3%

20.2% 16.9%

18.2%15.5%

15.6%13.6%

27.4%36.8%

2008 2009

Others

Mobile Phones

Electronics

Furniture

Appliances

Total: -11.6%SSS: -15.8% (1)

(1) Nominal figures

Famsa Mexico’s Net Sales decreased -11.6% during 1Q09

Famsa Mexico: % Share of sales by product category

10

$794

$1,136

1Q08 1Q09

Peso

s (M

illio

ns)

Famsa USA continued limiting the effects of theeconomic slowdown; TX and Electronics outperfrom

Total: +43.1% (Pesos)Total: +3.6% (USD)SSS: -6.6% (USD)

% o

f Sal

es

100% 100%

30.3%38.2%

44.1%36.5%

8.9% 8.1%7.1% 4.4%

9.7% 12.9%

2008 2009

Electronics

Appliances

Furniture

Famsa to FamsaOthers

Famsa USA’s Net Sales grew 43.1% during 1Q09

Famsa USA: % Share of sales by product category

(1) Nominal figures

11

Agenda

4Operating and Financial Results by Business Unit - 1Q09

4Consolidated Financial Results - 1Q09

4Q & A

12

Sales

-6.612.0Famsa USA-15.8-0.2Famsa Mexico-12.41.8Total1Q091Q08

Others

Mobile Phones

Electronics

Appliances

Furniture

Famsa-to-Famsa

76.2% 66.4%

23.8% 33.6%

2008 2009

21.5% 24.6%

26.1% 23.8%

15.9% 12.9%

11.8% 8.8%

1.7%

23.0% 28.4%

1.6%

2008 2009

$3,337 $3,377

1Q08 1Q09

+1.2%

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

13

$1,607 $1,694

1Q08 1Q09

$354

$216

1Q08 1Q09

$201$214

1Q08 1Q09

$110

$54

1Q08 1Q09

+5.4%

+6.6% -50.6%

-38.9%

48.2% 50.2% 10.6% 6.4%

6.0% 6.3% 3.3% 1.6%

Gross Income EBITDA

Comprehensive Financing Expense Net Income

Peso

s (M

illio

ns)

Profitability

14

$10,114

$12,764

2008 2009

$6,075$3,830

$597 $5,328

2008 2009

$2,399 $2,277

2008 2009

$6,564$7,375

2008 2009

+26.2%

+37.3%

-5.1%

+12.4%

4.1% 6.4%

$6,672

$9,158

Main Balance Sheet Accounts

Trade Accounts Receivable Inventories

Net Debt and Bank Deposits Stockholder’s Equity

Peso

s (M

illio

ns)

Bank Deposits

Net Debt

% Write-Off over Credit

Sales

15

Agenda

4Operating and Financial Results by Business Unit - 1Q09

4Consolidated Financial Results - 1Q09

4Q & A