SlideShare a Scribd company logo
1 of 16
Download to read offline
1Q08 Earnings Release
      Rodin Spielmann
CFO and Investor Relations Officer

      Carlos Aguinaga
Chairman of the Board of Directors

       Jorge Salomão
          Padtec´s CEO

          Fabio Gaia
          Officer´s CEO
1Q08 Highlights

• Proportional combined gross revenue1 was R$ 241.5 million in the 1Q08, a 115.6% growth over the 1Q07.
• Proportional combined EBITDA totaled R$ 1.9 million. When compared to the 1Q07, it fell 55.5%. Excluding the Softcorp
results, the fall would be of 9.3%.
• Some of the main Padtec clients have requested to postpone the delivery of equipments produced by the company. Therefore,
delaying the revenue and so affecting the EBITDA this quarter.
• According to the Brazilian Institute of Geography and Statistics (IBGE), the PCs sector registered the highest fall among the 27
sectors analyzed in the first quarter of 2008. The main factors for this fall have been the continuation of “Persona” Operation and
the Strike of Brazilian IRS auditors.
• In January 2008 Ideiasnet, in anticipation of the Virtus operation involving the merger of Automatos and Visionnaire with other
companies in the IT industry, increased its holdings in Automatos from 18.9% to 34.6%.
• E- Commerce in Brazil grew 49% in the 1Q08 over the 1Q07, with revenue of about R$ 1.84 billion, according to e-bit, an
entity that monitors the sector’s development. This result had a positive impact on the performance of the IdeiasVentures
companies: Zura!, Braspag and NetMovies.
• For 2008, Ideiasnet shall maintain its growth estimate for proportional combined gross revenue between 20% and 25%, and
EBITDA between 50% and 60%. These projections do not consider any possible contribution from iMusica, Virtus or recent or
future mergers and acquisitions.



 [1] Proportional Combined: considers Ideiasnet’ proportional stake in its portfolio.                                               2
1Q08 Highlights
• For Ideiasnet 1Q08 was characterized by a below-average performance of the
  PC sector on account of the strike by the Federal Revenue Service auditors,                          %       Date of
                                                                                         Company                            % After
                                                                                                     Before   Operation
  the increase in holdings in Automatos and the sale of Ideiasnet’s interest in
                                                                                           Sadig     19.6%    January-08     0.0%
  Sadig to the company’s executives (management buy-out), as described in               Automatos    19.0%    January-08    34.6%
  the following table:


• In 2008, the Company intensified its presentations to foreign investors and participated in events in Buenos Aires, Santiago,
London, New York and Washington.
• On January 15, 2008, Ideiasnet began to be traded on the Novo Mercado segment.
• In January 2008, Ideiasnet, anticipating the Virtus operation, increased its interest in Automatos from 18.9% to 34.6%.
• Visionnaire, a company in which Ideiasnet held a 40% stake, is now part of Virtus, which proves the synergies among the various
companies in Ideiasnet’s portfolio.
• On March 6, led by Automatos, the companies Visionnaire, Biosalc, Dedalus, Intelekto, Trellis and Volans announced the
merger of their operations to create Virtus. In April, yet another company, the Tech4B, joined Virtus.
• In February 2008, Padtec acquired Civcom, an Israeli company, which gave it control over the production of important
components in its key area of operation, that is, wavelength multiplexing.
• In March, Prosper started coverage of Ideiasnet with a buy recommendation for its shares.
• At the end of the 1Q08, Ideiasnet acquired ETML (Empresa de Telefonia Multiusuário) aiming at uniting it to Trinnphone,
focusing on its entrance in fixed incumbents sector (STFC).
                                                                                                                                 3
GROSS REVENUE
                                                           (In R$ Millions)




                                                   959.6

                                          136.4%




  115.6%                              405.9


                221.0         241.5

112.0



1Q07       1Q07 (pro-forma)   1Q08    2006         2007




                                                                         4
EBITDA
                                                           (in R$ Millions)




                                                   959.6

                                          136.4%




  115.6%                              405.9


                221.0         241.5

112.0



1Q07       1Q07 (pro-forma)   1Q08    2006         2007




                                                                      5
Portfolio Segmentation
                                                                                           Gross Revenue

  •      E-Commerce and Content – led by Officer.
  •      Infrastructure and Software – led by Padtec and Automatos.
  •      Wireless – led by Spring Wireless.
  •      IdeiasVentures – led by Visionnaire, Bolsa de Mulher, iMusica, TrinnPhone and Braspag.



Gross Revenue 1T07                                                    Gross Revenue 1T08



             1.1%                                           4.3%   0.7%   1.3%
                      1.4%
  6.1%
                                     91.4%
                                                                                       93.7%




                                                                                                      6
Portfolio Segmentation
                                                            EBITDA




      EBITDA 1T07               EBITDA 1T08


         5%               38%       3%

39%

                    56%
                                                       59%




                                                                 7
OFFICER - Distribution of IT products – % IDNT: 100,0%
                                                                                                 Portfolio Highlights in the 1Q08
• Posted a 13.0% growth in gross revenue between the 1Q07 and the 1Q08. The PCs sector has witnessed a slowdown in the last
quarter. This fall was the result of some of the following reasons:
(i) Production between January and March was 12% lower than in the same period in 2007. Note that in 2006, while production in
Brazil grew by 3%, the IT sector alone grew by 51.6%;
(ii) According to the Brazilian Association of the Electric and Electronic Industry (Abinee), large companies in the sector usually
make adjustments in the beginning of the year due to the large scale year-end production, which explains the slower pace;
(iii) The strike by the Federal Revenue Service auditors. Since bulk of the IT components are imported, local manufacturers are
affected when their imports are not released by the customs authorities. The strike has affected the market since a large part of
production relies on imported supplies;
(iv) The joint “Persona” operation of the Federal Police and the Brazilian IRS aiming at eliminating the import fraud scheme. A
market event not related to the company and non-recurring. Though it has affected the IT sector as a whole as of August 2007.
(v) Many retailers overestimated Christmas sales and ended up with high inventories in the first quarter of the year;
(vI) This period is generally weak. There are no sales to government and corporate business is lower.
• At the end of the 1Q08, Officer organized Canal Officer 2008, the largest relationship event in the IT distribution market in Brazil.



PADTEC - Network structure solutions - % IDNT: 34,2%
• The Padted financial result was negatively influenced in this quarter by the start of operation with a new large corporate client,
once the initial expenses in this cases tend to be higher. Some of the main Padtec clients have requested to postpone the delivery
of equipments produced by the company. Therefore, delaying the result for the revenue and so affecting the EBITDA this quarter.
• Acquired Civcom, an Israeli company, which gave it control over the production of important components in its key area of
operations - wavelength multiplexing. Padtec retained Civcom’s R&D and product manufacturing setup in Israel.
                                                                                                                                       8
Portfolio Highlights in the 1Q08
AUTOMATOS - I T infrastructure management – %IDNT: 34,6%
• On March 6, 2008, led by Automatos, the companies Visionnaire, Biosalc, Dedalus, Intelekto, Trellis and Volans announced
the merger of their operations to form Virtus.
• In January 2008, Ideiasnet, anticipating the Virtus operation increased its interest in Automatos from 18.9% to 34.6%.
• In addition to the Virtus operation in May 2008, Telefônica and Automatos created TecTotal, a company that provides support
services to residential clients, as described in the Subsequent Events section.



VISIONNAIRE - Software House - % IDNT: 40%
• In March 2008, Visionnaire joined Virtus, as described in the Subsequent Events section.



IMUSICA - Management and Distribution of Digital Media – % IDNT: 93.0%
• In partnership with Nokia, launched the full track download shop ‘Idéias Music Store’, to sell digital content of the operators
América Móvil in Latin America and the Caribbean. This project, already in operation in Brazil, Ecuador, Chile, Colombia,
Argentina and Mexico, will serve 147 million mobile phone users in 16 countries in the region. With this, iMusica has become
Latin America’s biggest digital music content provider and América Móvil’s main content partner.
• In Brazil, iMusica is also the official content aggregator for independent recording companies in Brazil and abroad, for full
track of TIM and Vivo download stores in the country.
• Through Coolnex, in which it holds a 30% stake, iMusica plans to enter the retail market to sell prepaid cards at leading
stores, for downloading music.

                                                                                                                                    9
Portfolio Highlights in the 1Q08
BOLSA DE MULHER - Solutions for women – % IDNT 93.0%
• Bolsa de Mulher was chosen by portal MSN as the exclusive partner for content targeted at women. MSN’s strategy follows the
growing share of Brazilian women using the Web. According to Ibope/NetRatings data, the MSN homepage has been the most
visited in Brazil since August 2007, and expects to attract a larger number of Web users by providing specialized news.
• In March, launched the Universidade Feminina – the first e-learning center exclusively targeted at women. In just two months
after going online, the Universidade Feminina had received more than 25,000 applications.
• Today, the portal for women’s solutions has more than 2.3 million unique visitors per month and the average time spent in the
site is 26 minutes. The increase in the number of unique visitors was of 106% if comparing March, 2007 to March, 2008.

•The company’s metrics are similar – and even
superior - to its American peers (according to
Alexa), where there is higher feminine presence
in the web
• At the same time the expected expansion to
Latin America in the first half of this year, Bolsa
de Mulher consolidates its position as feminine
global player.




                                                                                                                                  10
Portfolio Highlights in the 1Q08
 TRINNPHONE - Telecommunications - %IDNT 60.0%
 • Trinn is the sector’s consolidator and intends to promote strategic alliances, mergers and occasional portfolio acquisitions of
 companies with proven quality but without conditions to grow on their own in this highly competitive market.
 • In line with this positioning, Ideiasnet acquired ETML (Empresa de Telefonia Multiusuário) in March 2008, in order to merge the
 two companies, thereby enabling Trinn’s entry into the Fixed Commuted Telephone Services sector.
 • In line with the plan designed in 2007, Trinn will bring its services to São Paulo and migrate its structure to the more advanced
 and safer Next Generation Network (NGN), to provide better quality to its customers. By the end of the year, it plans to launch
 fixed telephone with broadband service in Rio de Janeiro and São Paulo.




BRASPAG - Electronic payments – % IDNT: 25.0%
• Braspag is the Latin American leader in online payment processing and call centers.
• The following world leaders have chosen Braspag for their transaction processing requirements in Brazil, Mexico, Argentina and
Chile: Google, Yahoo, Dell Computers, Apple, IBM, Mercado Livre, Submarino (B2W), and Ideiasnet companies, among others.
• In 2007, Braspag processed transactions worth R$ 4.5 billion and established important partnerships, notably with Netcredit,
the company recently acquired by Banco BGN to offer credit to consumers who purchase online.
• The company entered into an alliance with Paggo of the Oi Group, which will offer, through Braspag, its new payment method
that replaces credit cards: Oi Paggo.
• The company is expanding its operations and will shortly open a branch in Mexico City. It already serves a few large
international clients in Mexico, such as Apple Store México, but will also target Mexican companies as direct clients through a
broad partnership with a local bank.
                                                                                                                                       11
SYNERGY AMONG THE COMPANIES IN THE PORTFOLIO
Automatos and Visionnaire form new company Virtus
Automatos and Visionnaire, companies in which Ideiasnet holds interest, are now part of Virtus, proving the synergies
between the companies in Ideiasnet’s portfolio and management’s sense of opportunity and commitment to creating the best
value for shareholders of Ideiasnet.
The process of identifying the synergies among the companies in Ideiasnet’s portfolio and future acquisitions is in an advanced
stage and new mergers are being structured for the next quarters

                                                                                                             SUBSEQUENT EVENTS

Creation of TecTotal – Partnership between Telefônica and Automatos.
In May 2008, Telefônica and Automatos created TecTotal, a company that provides technical support to residential customers,
and offers installation, maintenance and support services to all kinds of electronic and IT equipment, and providing integration
among them.


Increase in Private Capital
On May 14, Ideiasnet informed its shareholders and the market that the Company’s Board of Directors approved, by
unanimous vote, the increase in the Company’s capital stock by means of a private subscription in the amount of R$ 100.5
million through the issue of 15.0 million new book-entry common shares with no par value.
The approved capital increase is underwritten by Centennial Asset Mining Fund LLC, company related to the EBX group, upon
the condition that at least 45% of the shares to be issued as part of the capital increase should be free for subscription by
Centennial.
Ideiasnet’s shareholders can exercise their preemptive right within 30 days of the publication of the respective notice.
                                                                                                                                   12
IDEIASNET
The long-term TMT investment in Brazil


 IDNT3 Daily Average Volume of Transactions
                (in R$ million)

                         4.38

                                        3.83



                                 2.90
                                               In 2007, Ideiasnet shares (IDNT3) registered a financial volume of
                                               R$ 229,59 millions at the Bovespa.
                                               Average daily volume of transactions in 2007 was approximately
                                               R$ 3.38 millions.


                  0.85

           0.25
    0.05

   2004    2005   2006   2007   1Q07    1Q08




                                                                                                                    13
THE COMPANY´S INVESTMENTS

In 1Q08, Ideiasnet invested R$ 2,18 millions in the investee companies:


                                                   Investment             Investment
            Sector             Company
                                                 (R$ thousand)                (%)
        Infrastructure &
                               Automatos            R$ 450.0                20.6%
            Software
                              iMúsica and
        IdeiasVentures                             R$ 1,355.0               62.2%
                               Trinnphone

       Other Companies                              R$ 374.5                17.2%




                                                                                                         NET DEBIT

 At the end of the 1Q08, Ideiasnet’s net debt in proportion to its stake in the investee companies was
 R$ 71,1 million.




                                                                                                              14
Comparative   Quarterly                          Yearly                                               EQUITY INCOME OF THE COMPANY
               1Q08
    Portfolio Results     1Q07                         2007
                                                                                                                                             1Q08
GROSS REVENUE 241,489    220,996                      959,609
                                                                                    (+) Proportional Portfolio Results                          468
NET REVENUES  180,401    183,444                      771,605                       (-) Non-considered Results                                 (481)
(=) EBITDA      1,857       7,814                      21,454                       (-) Consolidated Companies Results                          850
Ebitda margin    1.0%        4.3%                        2.8%                       (=) Equity Income                                            98

(=) Net Income                  468        3,708          9,701                     (+) Equity Income                                               98
                                                                                    (+) Provisions                                                 531
 Holding Financial Statement           1Q08        1Q07      3M08        3M07       (+) Foreign Exchange                                           (31)
                                                                                    (=) Accounting Equity Income                                   599
Gross Revenues                         233,322     15,865    233,322     15,865
( - ) Deductions                       (50,903)    (1,949)   (50,903)    (1,949)
Net Operating Revenues                 182,419     13,916    182,419     13,916
( - ) Cost of goods sold               (155,051)   (8,798)   (155,051)    (8,798)
Gross Operating Profit                   27,368     5,118      27,368      5,118
Operating Expenses
General and Administrative              (28,284)   (4,696)    (28,284)    (4,696)
  Follow-on expenses                       (652)      -          (652)       -
Financial                                (3,167)   (1,017)     (3,167)    (1,017)
  Financial Revenues                      3,259       225       3,259        225
  Financial Expenses*                    (6,426)   (1,242)     (6,426)    (1,242)
Other Operating Revenues/Expenses         1,613         21      1,613          21
Depreciation and Amortization            (1,359)     (440)     (1,359)      (440)
Equity Income                               599     2,433         599      2,433
Operating Results                        (2,578)    1,419      (2,578)    1,419
Non-Operating Results                       48         13          48        13
Earning before taxes                     (2,530)    1,432      (2,530)    1,432
Income Tax and Social Contribution         (543)       (4)       (543)       (4)

                              Result    (3,073)    1,428      (3,073)     1,428      * Ideiasnet’s, Officer’s and Softcorp’s Financial Operating
                                                                                                                                                    15
                                                                                     Expenses.
                                                                  (In R$ million)
DISCLAIMER

This presentation may contain forward-looking statements concerning future trends and results. These projections are subject to risks and
uncertainties and future results may differ materially from such forward-looking statements. Many of these risks refer to factors that are
beyond Ideiasnet’s control or ability to anticipate, including market conditions, currency fluctuations, the behavior of competitors, the
regulatory environment, the company’s ability to continue raising funds and changes in the social and political context in which Ideiasnet
operates or in economic trends or conditions, including inflation and changes in consumer confidence levels, on a global, national or
regional scale.
Readers are hereby advised not to rely only on these trends and projections, nor is Ideiasnet obliged to publish any changes to these
trends or projections to reflect subsequent events or circumstances.




For additional information, please contact our IR team:

Rodin Spielmann
CFO and Investor Relations Officer
ri@ideiasnet.com.br




                                                                                                                                        16

More Related Content

What's hot

Q3 2006 Earnings Release
Q3 2006 Earnings ReleaseQ3 2006 Earnings Release
Q3 2006 Earnings Releasefinance7
 
Q2 2006 Earnings Release
Q2 2006 Earnings ReleaseQ2 2006 Earnings Release
Q2 2006 Earnings Releasefinance7
 
SPX Corporation 3rd Quarter 2008 Results
SPX Corporation 3rd Quarter 2008 Results SPX Corporation 3rd Quarter 2008 Results
SPX Corporation 3rd Quarter 2008 Results finance40
 
Q2 2007 Earnings Release and Financial Tables
Q2 2007 Earnings Release and Financial TablesQ2 2007 Earnings Release and Financial Tables
Q2 2007 Earnings Release and Financial Tablesfinance7
 
Toshiba Consolidated Business Results
Toshiba Consolidated Business ResultsToshiba Consolidated Business Results
Toshiba Consolidated Business Resultsearningsreport
 
Gigamon 1Q15 Investor Relations Presentation
Gigamon 1Q15 Investor Relations PresentationGigamon 1Q15 Investor Relations Presentation
Gigamon 1Q15 Investor Relations PresentationInvestorRelations
 
Investor Meetings - Paris - Franco Bernabe' presentation (July, 3 - 4 2012)
Investor Meetings - Paris - Franco Bernabe' presentation (July, 3 - 4  2012)Investor Meetings - Paris - Franco Bernabe' presentation (July, 3 - 4  2012)
Investor Meetings - Paris - Franco Bernabe' presentation (July, 3 - 4 2012)Gruppo TIM
 
Q3 2007 Earnings Press Release and Financial Tables
Q3 2007 Earnings Press Release and Financial TablesQ3 2007 Earnings Press Release and Financial Tables
Q3 2007 Earnings Press Release and Financial Tablesfinance7
 
Honeywell Q1 2007 Earnings Conference Call Presentation
Honeywell Q1 2007 Earnings Conference Call PresentationHoneywell Q1 2007 Earnings Conference Call Presentation
Honeywell Q1 2007 Earnings Conference Call Presentationfinance8
 
Q3 2008 Earnings Press Release and Financial Tables
 	Q3 2008 Earnings Press Release and Financial Tables 	Q3 2008 Earnings Press Release and Financial Tables
Q3 2008 Earnings Press Release and Financial Tablesfinance7
 
Ge Earnings Main Presentation 04112008
Ge Earnings Main Presentation 04112008Ge Earnings Main Presentation 04112008
Ge Earnings Main Presentation 04112008earningsreport
 
Fostering An Open Alliance Among Competitors The Itanium Solutions Alliance
Fostering An Open Alliance Among Competitors   The Itanium Solutions AllianceFostering An Open Alliance Among Competitors   The Itanium Solutions Alliance
Fostering An Open Alliance Among Competitors The Itanium Solutions AllianceAndrew Masland
 
Telecom Italia – Domestic Market FY 2011 Preliminary Results and 2012‐14 Plan...
Telecom Italia – Domestic Market FY 2011 Preliminary Results and 2012‐14 Plan...Telecom Italia – Domestic Market FY 2011 Preliminary Results and 2012‐14 Plan...
Telecom Italia – Domestic Market FY 2011 Preliminary Results and 2012‐14 Plan...Gruppo TIM
 
An Update On IDC's Top 10 Predictions For 2008
An Update On IDC's Top 10 Predictions For 2008An Update On IDC's Top 10 Predictions For 2008
An Update On IDC's Top 10 Predictions For 2008Intergen
 
Telecom Italia - Domestic Market Full-Year 2011 Preliminary Results & 2012-14...
Telecom Italia - Domestic Market Full-Year 2011 Preliminary Results & 2012-14...Telecom Italia - Domestic Market Full-Year 2011 Preliminary Results & 2012-14...
Telecom Italia - Domestic Market Full-Year 2011 Preliminary Results & 2012-14...Gruppo TIM
 
Paypal: The Global Internet Payment Network
Paypal: The Global Internet Payment NetworkPaypal: The Global Internet Payment Network
Paypal: The Global Internet Payment Networkinvestorrelation
 
Marketing with Northland Securities - Oct 8 2015
Marketing with Northland Securities - Oct 8 2015Marketing with Northland Securities - Oct 8 2015
Marketing with Northland Securities - Oct 8 2015EXFO Inc.
 

What's hot (20)

Ge Q2 2008 Earnings
Ge Q2 2008 EarningsGe Q2 2008 Earnings
Ge Q2 2008 Earnings
 
Q3 2006 Earnings Release
Q3 2006 Earnings ReleaseQ3 2006 Earnings Release
Q3 2006 Earnings Release
 
Usl ktk
Usl ktkUsl ktk
Usl ktk
 
Q2 2006 Earnings Release
Q2 2006 Earnings ReleaseQ2 2006 Earnings Release
Q2 2006 Earnings Release
 
SPX Corporation 3rd Quarter 2008 Results
SPX Corporation 3rd Quarter 2008 Results SPX Corporation 3rd Quarter 2008 Results
SPX Corporation 3rd Quarter 2008 Results
 
Q2 2007 Earnings Release and Financial Tables
Q2 2007 Earnings Release and Financial TablesQ2 2007 Earnings Release and Financial Tables
Q2 2007 Earnings Release and Financial Tables
 
Toshiba Consolidated Business Results
Toshiba Consolidated Business ResultsToshiba Consolidated Business Results
Toshiba Consolidated Business Results
 
Gigamon 1Q15 Investor Relations Presentation
Gigamon 1Q15 Investor Relations PresentationGigamon 1Q15 Investor Relations Presentation
Gigamon 1Q15 Investor Relations Presentation
 
Investor Meetings - Paris - Franco Bernabe' presentation (July, 3 - 4 2012)
Investor Meetings - Paris - Franco Bernabe' presentation (July, 3 - 4  2012)Investor Meetings - Paris - Franco Bernabe' presentation (July, 3 - 4  2012)
Investor Meetings - Paris - Franco Bernabe' presentation (July, 3 - 4 2012)
 
Q3 2007 Earnings Press Release and Financial Tables
Q3 2007 Earnings Press Release and Financial TablesQ3 2007 Earnings Press Release and Financial Tables
Q3 2007 Earnings Press Release and Financial Tables
 
Honeywell Q1 2007 Earnings Conference Call Presentation
Honeywell Q1 2007 Earnings Conference Call PresentationHoneywell Q1 2007 Earnings Conference Call Presentation
Honeywell Q1 2007 Earnings Conference Call Presentation
 
Ge Q3 2008 Earnings
Ge Q3 2008 EarningsGe Q3 2008 Earnings
Ge Q3 2008 Earnings
 
Q3 2008 Earnings Press Release and Financial Tables
 	Q3 2008 Earnings Press Release and Financial Tables 	Q3 2008 Earnings Press Release and Financial Tables
Q3 2008 Earnings Press Release and Financial Tables
 
Ge Earnings Main Presentation 04112008
Ge Earnings Main Presentation 04112008Ge Earnings Main Presentation 04112008
Ge Earnings Main Presentation 04112008
 
Fostering An Open Alliance Among Competitors The Itanium Solutions Alliance
Fostering An Open Alliance Among Competitors   The Itanium Solutions AllianceFostering An Open Alliance Among Competitors   The Itanium Solutions Alliance
Fostering An Open Alliance Among Competitors The Itanium Solutions Alliance
 
Telecom Italia – Domestic Market FY 2011 Preliminary Results and 2012‐14 Plan...
Telecom Italia – Domestic Market FY 2011 Preliminary Results and 2012‐14 Plan...Telecom Italia – Domestic Market FY 2011 Preliminary Results and 2012‐14 Plan...
Telecom Italia – Domestic Market FY 2011 Preliminary Results and 2012‐14 Plan...
 
An Update On IDC's Top 10 Predictions For 2008
An Update On IDC's Top 10 Predictions For 2008An Update On IDC's Top 10 Predictions For 2008
An Update On IDC's Top 10 Predictions For 2008
 
Telecom Italia - Domestic Market Full-Year 2011 Preliminary Results & 2012-14...
Telecom Italia - Domestic Market Full-Year 2011 Preliminary Results & 2012-14...Telecom Italia - Domestic Market Full-Year 2011 Preliminary Results & 2012-14...
Telecom Italia - Domestic Market Full-Year 2011 Preliminary Results & 2012-14...
 
Paypal: The Global Internet Payment Network
Paypal: The Global Internet Payment NetworkPaypal: The Global Internet Payment Network
Paypal: The Global Internet Payment Network
 
Marketing with Northland Securities - Oct 8 2015
Marketing with Northland Securities - Oct 8 2015Marketing with Northland Securities - Oct 8 2015
Marketing with Northland Securities - Oct 8 2015
 

Viewers also liked

Partner - Maximising your Presence on LinkedIn
Partner - Maximising your Presence on LinkedInPartner - Maximising your Presence on LinkedIn
Partner - Maximising your Presence on LinkedInLinkedIn_EMEA_Events
 
Presentation call3 t 2011 (english)
Presentation call3 t 2011 (english)Presentation call3 t 2011 (english)
Presentation call3 t 2011 (english)ideiasnet
 
Apresentação call 4Q2011
Apresentação call 4Q2011Apresentação call 4Q2011
Apresentação call 4Q2011ideiasnet
 
Presentation 3Q 2011 (english)
Presentation 3Q 2011 (english)Presentation 3Q 2011 (english)
Presentation 3Q 2011 (english)ideiasnet
 
Apresentação call 2 t 2012 (english)
Apresentação call 2 t 2012 (english)Apresentação call 2 t 2012 (english)
Apresentação call 2 t 2012 (english)ideiasnet
 

Viewers also liked (8)

Partner - Maximising your Presence on LinkedIn
Partner - Maximising your Presence on LinkedInPartner - Maximising your Presence on LinkedIn
Partner - Maximising your Presence on LinkedIn
 
Presentation call3 t 2011 (english)
Presentation call3 t 2011 (english)Presentation call3 t 2011 (english)
Presentation call3 t 2011 (english)
 
Apresentação call 4Q2011
Apresentação call 4Q2011Apresentação call 4Q2011
Apresentação call 4Q2011
 
3 q09
3 q093 q09
3 q09
 
Presentation 3Q 2011 (english)
Presentation 3Q 2011 (english)Presentation 3Q 2011 (english)
Presentation 3Q 2011 (english)
 
4 q08
4 q084 q08
4 q08
 
2 q08
2 q082 q08
2 q08
 
Apresentação call 2 t 2012 (english)
Apresentação call 2 t 2012 (english)Apresentação call 2 t 2012 (english)
Apresentação call 2 t 2012 (english)
 

Similar to 1 q08

liberty global Q3_2008__Presentation
liberty global Q3_2008__Presentationliberty global Q3_2008__Presentation
liberty global Q3_2008__Presentationfinance43
 
Apresentação call 1 t 2012 (ingles)
Apresentação call 1 t 2012 (ingles)Apresentação call 1 t 2012 (ingles)
Apresentação call 1 t 2012 (ingles)ideiasnet
 
Apresentação call 1 t 2012 (ingles)
Apresentação call 1 t 2012 (ingles)Apresentação call 1 t 2012 (ingles)
Apresentação call 1 t 2012 (ingles)ideiasnet
 
Presentation of 1 q06 results
Presentation of 1 q06 resultsPresentation of 1 q06 results
Presentation of 1 q06 resultsCSURIWEB
 
sonic automotive SAHPressReleaseQ208July29
sonic automotive SAHPressReleaseQ208July29sonic automotive SAHPressReleaseQ208July29
sonic automotive SAHPressReleaseQ208July29finance43
 
sonic automotive SAHPressReleaseQ208July29
sonic automotive SAHPressReleaseQ208July29sonic automotive SAHPressReleaseQ208July29
sonic automotive SAHPressReleaseQ208July29finance43
 
Conference Call Presentation 4Q09
Conference Call Presentation 4Q09Conference Call Presentation 4Q09
Conference Call Presentation 4Q09Tempo
 
First Quarter 2009 Results
First Quarter 2009 ResultsFirst Quarter 2009 Results
First Quarter 2009 ResultsGruppo TIM
 
Financial Technologies
Financial TechnologiesFinancial Technologies
Financial Technologiessovid gupta
 
First Half 2009 Results
First Half 2009 ResultsFirst Half 2009 Results
First Half 2009 ResultsGruppo TIM
 
dover Q308_Slides
dover Q308_Slidesdover Q308_Slides
dover Q308_Slidesfinance30
 
dover Q308_Slides
dover Q308_Slidesdover Q308_Slides
dover Q308_Slidesfinance30
 
dover Q308_Slides
dover Q308_Slidesdover Q308_Slides
dover Q308_Slidesfinance30
 
Q1 2009 Earning Report of Life Technologies Corp.
Q1 2009 Earning Report of Life Technologies Corp.Q1 2009 Earning Report of Life Technologies Corp.
Q1 2009 Earning Report of Life Technologies Corp.earningreport earningreport
 
Press Release 2 T08 En
Press Release 2 T08 EnPress Release 2 T08 En
Press Release 2 T08 EnTIM RI
 
Strategic analysis of etisalat
Strategic analysis of etisalatStrategic analysis of etisalat
Strategic analysis of etisalatparitosh kashyap
 
Ge Q4 2008 Financial Results
Ge Q4 2008 Financial ResultsGe Q4 2008 Financial Results
Ge Q4 2008 Financial Resultsearningsreport
 

Similar to 1 q08 (20)

1 q09
1 q091 q09
1 q09
 
liberty global Q3_2008__Presentation
liberty global Q3_2008__Presentationliberty global Q3_2008__Presentation
liberty global Q3_2008__Presentation
 
Apresentação call 1 t 2012 (ingles)
Apresentação call 1 t 2012 (ingles)Apresentação call 1 t 2012 (ingles)
Apresentação call 1 t 2012 (ingles)
 
Apresentação call 1 t 2012 (ingles)
Apresentação call 1 t 2012 (ingles)Apresentação call 1 t 2012 (ingles)
Apresentação call 1 t 2012 (ingles)
 
Presentation of 1 q06 results
Presentation of 1 q06 resultsPresentation of 1 q06 results
Presentation of 1 q06 results
 
sonic automotive SAHPressReleaseQ208July29
sonic automotive SAHPressReleaseQ208July29sonic automotive SAHPressReleaseQ208July29
sonic automotive SAHPressReleaseQ208July29
 
sonic automotive SAHPressReleaseQ208July29
sonic automotive SAHPressReleaseQ208July29sonic automotive SAHPressReleaseQ208July29
sonic automotive SAHPressReleaseQ208July29
 
Conference Call Presentation 4Q09
Conference Call Presentation 4Q09Conference Call Presentation 4Q09
Conference Call Presentation 4Q09
 
First Quarter 2009 Results
First Quarter 2009 ResultsFirst Quarter 2009 Results
First Quarter 2009 Results
 
Financial Technologies
Financial TechnologiesFinancial Technologies
Financial Technologies
 
First Half 2009 Results
First Half 2009 ResultsFirst Half 2009 Results
First Half 2009 Results
 
Luminex Q4 2010 Earnings Call
Luminex Q4 2010 Earnings CallLuminex Q4 2010 Earnings Call
Luminex Q4 2010 Earnings Call
 
dover Q308_Slides
dover Q308_Slidesdover Q308_Slides
dover Q308_Slides
 
dover Q308_Slides
dover Q308_Slidesdover Q308_Slides
dover Q308_Slides
 
dover Q308_Slides
dover Q308_Slidesdover Q308_Slides
dover Q308_Slides
 
Q1 2009 Earning Report of Comcast Corp.
Q1 2009 Earning Report of Comcast Corp.Q1 2009 Earning Report of Comcast Corp.
Q1 2009 Earning Report of Comcast Corp.
 
Q1 2009 Earning Report of Life Technologies Corp.
Q1 2009 Earning Report of Life Technologies Corp.Q1 2009 Earning Report of Life Technologies Corp.
Q1 2009 Earning Report of Life Technologies Corp.
 
Press Release 2 T08 En
Press Release 2 T08 EnPress Release 2 T08 En
Press Release 2 T08 En
 
Strategic analysis of etisalat
Strategic analysis of etisalatStrategic analysis of etisalat
Strategic analysis of etisalat
 
Ge Q4 2008 Financial Results
Ge Q4 2008 Financial ResultsGe Q4 2008 Financial Results
Ge Q4 2008 Financial Results
 

More from ideiasnet

Apresentação call 2 t 2012 (portugues)
Apresentação call 2 t 2012 (portugues)Apresentação call 2 t 2012 (portugues)
Apresentação call 2 t 2012 (portugues)ideiasnet
 
Apresentação call 1 t 2012 (portugues)
Apresentação call 1 t 2012 (portugues)Apresentação call 1 t 2012 (portugues)
Apresentação call 1 t 2012 (portugues)ideiasnet
 
Apresentação call 1 t 2012 (portugues)
Apresentação call 1 t 2012 (portugues)Apresentação call 1 t 2012 (portugues)
Apresentação call 1 t 2012 (portugues)ideiasnet
 
Código de Conduta
Código de CondutaCódigo de Conduta
Código de Condutaideiasnet
 
Apresentação call 4 t 2011 (portugues)
Apresentação call 4 t 2011 (portugues)Apresentação call 4 t 2011 (portugues)
Apresentação call 4 t 2011 (portugues)ideiasnet
 
Apresentação call 4T2011
Apresentação call 4T2011Apresentação call 4T2011
Apresentação call 4T2011ideiasnet
 
Apresentacao 1t11 i
Apresentacao 1t11 iApresentacao 1t11 i
Apresentacao 1t11 iideiasnet
 
Apresentacao 1t11 p
Apresentacao 1t11 pApresentacao 1t11 p
Apresentacao 1t11 pideiasnet
 
Apresentação call 3 t 2011 (portugues)
Apresentação call 3 t 2011 (portugues)Apresentação call 3 t 2011 (portugues)
Apresentação call 3 t 2011 (portugues)ideiasnet
 
Report 4 q10_eng
Report 4 q10_engReport 4 q10_eng
Report 4 q10_engideiasnet
 
Apresentacao 4t10 port
Apresentacao 4t10 portApresentacao 4t10 port
Apresentacao 4t10 portideiasnet
 
Apresentação call 3 t 2011 (portugues)
Apresentação call 3 t 2011 (portugues)Apresentação call 3 t 2011 (portugues)
Apresentação call 3 t 2011 (portugues)ideiasnet
 
Apresentação 3T 2011 (portugues)
Apresentação 3T 2011 (portugues)Apresentação 3T 2011 (portugues)
Apresentação 3T 2011 (portugues)ideiasnet
 
Report 3T 2011 (portugues)
Report 3T 2011 (portugues)Report 3T 2011 (portugues)
Report 3T 2011 (portugues)ideiasnet
 
Apresentacao 3t10 port
Apresentacao 3t10 portApresentacao 3t10 port
Apresentacao 3t10 portideiasnet
 
Nacionalizacao softcorp marco_2007
Nacionalizacao softcorp marco_2007Nacionalizacao softcorp marco_2007
Nacionalizacao softcorp marco_2007ideiasnet
 
Apresentacao ideiasnet unibanco small cap
Apresentacao ideiasnet unibanco small capApresentacao ideiasnet unibanco small cap
Apresentacao ideiasnet unibanco small capideiasnet
 
Apresentacao ideiasnetenglish 20070410v1
Apresentacao ideiasnetenglish 20070410v1Apresentacao ideiasnetenglish 20070410v1
Apresentacao ideiasnetenglish 20070410v1ideiasnet
 

More from ideiasnet (20)

Apresentação call 2 t 2012 (portugues)
Apresentação call 2 t 2012 (portugues)Apresentação call 2 t 2012 (portugues)
Apresentação call 2 t 2012 (portugues)
 
Apresentação call 1 t 2012 (portugues)
Apresentação call 1 t 2012 (portugues)Apresentação call 1 t 2012 (portugues)
Apresentação call 1 t 2012 (portugues)
 
Apresentação call 1 t 2012 (portugues)
Apresentação call 1 t 2012 (portugues)Apresentação call 1 t 2012 (portugues)
Apresentação call 1 t 2012 (portugues)
 
Código de Conduta
Código de CondutaCódigo de Conduta
Código de Conduta
 
Apresentação call 4 t 2011 (portugues)
Apresentação call 4 t 2011 (portugues)Apresentação call 4 t 2011 (portugues)
Apresentação call 4 t 2011 (portugues)
 
Apresentação call 4T2011
Apresentação call 4T2011Apresentação call 4T2011
Apresentação call 4T2011
 
Apresentacao 1t11 i
Apresentacao 1t11 iApresentacao 1t11 i
Apresentacao 1t11 i
 
Apresentacao 1t11 p
Apresentacao 1t11 pApresentacao 1t11 p
Apresentacao 1t11 p
 
Apresentação call 3 t 2011 (portugues)
Apresentação call 3 t 2011 (portugues)Apresentação call 3 t 2011 (portugues)
Apresentação call 3 t 2011 (portugues)
 
Report 4 q10_eng
Report 4 q10_engReport 4 q10_eng
Report 4 q10_eng
 
Apresentacao 4t10 port
Apresentacao 4t10 portApresentacao 4t10 port
Apresentacao 4t10 port
 
Apresentação call 3 t 2011 (portugues)
Apresentação call 3 t 2011 (portugues)Apresentação call 3 t 2011 (portugues)
Apresentação call 3 t 2011 (portugues)
 
Apresentação 3T 2011 (portugues)
Apresentação 3T 2011 (portugues)Apresentação 3T 2011 (portugues)
Apresentação 3T 2011 (portugues)
 
Report 3T 2011 (portugues)
Report 3T 2011 (portugues)Report 3T 2011 (portugues)
Report 3T 2011 (portugues)
 
Apresentacao 3t10 port
Apresentacao 3t10 portApresentacao 3t10 port
Apresentacao 3t10 port
 
2 q11
2 q112 q11
2 q11
 
2 t11
2 t112 t11
2 t11
 
Nacionalizacao softcorp marco_2007
Nacionalizacao softcorp marco_2007Nacionalizacao softcorp marco_2007
Nacionalizacao softcorp marco_2007
 
Apresentacao ideiasnet unibanco small cap
Apresentacao ideiasnet unibanco small capApresentacao ideiasnet unibanco small cap
Apresentacao ideiasnet unibanco small cap
 
Apresentacao ideiasnetenglish 20070410v1
Apresentacao ideiasnetenglish 20070410v1Apresentacao ideiasnetenglish 20070410v1
Apresentacao ideiasnetenglish 20070410v1
 

Recently uploaded

PSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationPSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationAnamaria Contreras
 
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCRashishs7044
 
Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Peter Ward
 
Kenya Coconut Production Presentation by Dr. Lalith Perera
Kenya Coconut Production Presentation by Dr. Lalith PereraKenya Coconut Production Presentation by Dr. Lalith Perera
Kenya Coconut Production Presentation by Dr. Lalith Pereraictsugar
 
8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCRashishs7044
 
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCRashishs7044
 
Annual General Meeting Presentation Slides
Annual General Meeting Presentation SlidesAnnual General Meeting Presentation Slides
Annual General Meeting Presentation SlidesKeppelCorporation
 
8447779800, Low rate Call girls in Tughlakabad Delhi NCR
8447779800, Low rate Call girls in Tughlakabad Delhi NCR8447779800, Low rate Call girls in Tughlakabad Delhi NCR
8447779800, Low rate Call girls in Tughlakabad Delhi NCRashishs7044
 
Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!
Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!
Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!Doge Mining Website
 
Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Kirill Klimov
 
Investment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy CheruiyotInvestment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy Cheruiyotictsugar
 
Digital Transformation in the PLM domain - distrib.pdf
Digital Transformation in the PLM domain - distrib.pdfDigital Transformation in the PLM domain - distrib.pdf
Digital Transformation in the PLM domain - distrib.pdfJos Voskuil
 
APRIL2024_UKRAINE_xml_0000000000000 .pdf
APRIL2024_UKRAINE_xml_0000000000000 .pdfAPRIL2024_UKRAINE_xml_0000000000000 .pdf
APRIL2024_UKRAINE_xml_0000000000000 .pdfRbc Rbcua
 
MAHA Global and IPR: Do Actions Speak Louder Than Words?
MAHA Global and IPR: Do Actions Speak Louder Than Words?MAHA Global and IPR: Do Actions Speak Louder Than Words?
MAHA Global and IPR: Do Actions Speak Louder Than Words?Olivia Kresic
 
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCRashishs7044
 
Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Riya Pathan
 
Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Americas Got Grants
 
Youth Involvement in an Innovative Coconut Value Chain by Mwalimu Menza
Youth Involvement in an Innovative Coconut Value Chain by Mwalimu MenzaYouth Involvement in an Innovative Coconut Value Chain by Mwalimu Menza
Youth Involvement in an Innovative Coconut Value Chain by Mwalimu Menzaictsugar
 
Marketplace and Quality Assurance Presentation - Vincent Chirchir
Marketplace and Quality Assurance Presentation - Vincent ChirchirMarketplace and Quality Assurance Presentation - Vincent Chirchir
Marketplace and Quality Assurance Presentation - Vincent Chirchirictsugar
 
Ten Organizational Design Models to align structure and operations to busines...
Ten Organizational Design Models to align structure and operations to busines...Ten Organizational Design Models to align structure and operations to busines...
Ten Organizational Design Models to align structure and operations to busines...Seta Wicaksana
 

Recently uploaded (20)

PSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationPSCC - Capability Statement Presentation
PSCC - Capability Statement Presentation
 
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
8447779800, Low rate Call girls in Shivaji Enclave Delhi NCR
 
Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...Fordham -How effective decision-making is within the IT department - Analysis...
Fordham -How effective decision-making is within the IT department - Analysis...
 
Kenya Coconut Production Presentation by Dr. Lalith Perera
Kenya Coconut Production Presentation by Dr. Lalith PereraKenya Coconut Production Presentation by Dr. Lalith Perera
Kenya Coconut Production Presentation by Dr. Lalith Perera
 
8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR8447779800, Low rate Call girls in Saket Delhi NCR
8447779800, Low rate Call girls in Saket Delhi NCR
 
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
 
Annual General Meeting Presentation Slides
Annual General Meeting Presentation SlidesAnnual General Meeting Presentation Slides
Annual General Meeting Presentation Slides
 
8447779800, Low rate Call girls in Tughlakabad Delhi NCR
8447779800, Low rate Call girls in Tughlakabad Delhi NCR8447779800, Low rate Call girls in Tughlakabad Delhi NCR
8447779800, Low rate Call girls in Tughlakabad Delhi NCR
 
Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!
Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!
Unlocking the Future: Explore Web 3.0 Workshop to Start Earning Today!
 
Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024
 
Investment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy CheruiyotInvestment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy Cheruiyot
 
Digital Transformation in the PLM domain - distrib.pdf
Digital Transformation in the PLM domain - distrib.pdfDigital Transformation in the PLM domain - distrib.pdf
Digital Transformation in the PLM domain - distrib.pdf
 
APRIL2024_UKRAINE_xml_0000000000000 .pdf
APRIL2024_UKRAINE_xml_0000000000000 .pdfAPRIL2024_UKRAINE_xml_0000000000000 .pdf
APRIL2024_UKRAINE_xml_0000000000000 .pdf
 
MAHA Global and IPR: Do Actions Speak Louder Than Words?
MAHA Global and IPR: Do Actions Speak Louder Than Words?MAHA Global and IPR: Do Actions Speak Louder Than Words?
MAHA Global and IPR: Do Actions Speak Louder Than Words?
 
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
8447779800, Low rate Call girls in Kotla Mubarakpur Delhi NCR
 
Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737Independent Call Girls Andheri Nightlaila 9967584737
Independent Call Girls Andheri Nightlaila 9967584737
 
Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...
 
Youth Involvement in an Innovative Coconut Value Chain by Mwalimu Menza
Youth Involvement in an Innovative Coconut Value Chain by Mwalimu MenzaYouth Involvement in an Innovative Coconut Value Chain by Mwalimu Menza
Youth Involvement in an Innovative Coconut Value Chain by Mwalimu Menza
 
Marketplace and Quality Assurance Presentation - Vincent Chirchir
Marketplace and Quality Assurance Presentation - Vincent ChirchirMarketplace and Quality Assurance Presentation - Vincent Chirchir
Marketplace and Quality Assurance Presentation - Vincent Chirchir
 
Ten Organizational Design Models to align structure and operations to busines...
Ten Organizational Design Models to align structure and operations to busines...Ten Organizational Design Models to align structure and operations to busines...
Ten Organizational Design Models to align structure and operations to busines...
 

1 q08

  • 1. 1Q08 Earnings Release Rodin Spielmann CFO and Investor Relations Officer Carlos Aguinaga Chairman of the Board of Directors Jorge Salomão Padtec´s CEO Fabio Gaia Officer´s CEO
  • 2. 1Q08 Highlights • Proportional combined gross revenue1 was R$ 241.5 million in the 1Q08, a 115.6% growth over the 1Q07. • Proportional combined EBITDA totaled R$ 1.9 million. When compared to the 1Q07, it fell 55.5%. Excluding the Softcorp results, the fall would be of 9.3%. • Some of the main Padtec clients have requested to postpone the delivery of equipments produced by the company. Therefore, delaying the revenue and so affecting the EBITDA this quarter. • According to the Brazilian Institute of Geography and Statistics (IBGE), the PCs sector registered the highest fall among the 27 sectors analyzed in the first quarter of 2008. The main factors for this fall have been the continuation of “Persona” Operation and the Strike of Brazilian IRS auditors. • In January 2008 Ideiasnet, in anticipation of the Virtus operation involving the merger of Automatos and Visionnaire with other companies in the IT industry, increased its holdings in Automatos from 18.9% to 34.6%. • E- Commerce in Brazil grew 49% in the 1Q08 over the 1Q07, with revenue of about R$ 1.84 billion, according to e-bit, an entity that monitors the sector’s development. This result had a positive impact on the performance of the IdeiasVentures companies: Zura!, Braspag and NetMovies. • For 2008, Ideiasnet shall maintain its growth estimate for proportional combined gross revenue between 20% and 25%, and EBITDA between 50% and 60%. These projections do not consider any possible contribution from iMusica, Virtus or recent or future mergers and acquisitions. [1] Proportional Combined: considers Ideiasnet’ proportional stake in its portfolio. 2
  • 3. 1Q08 Highlights • For Ideiasnet 1Q08 was characterized by a below-average performance of the PC sector on account of the strike by the Federal Revenue Service auditors, % Date of Company % After Before Operation the increase in holdings in Automatos and the sale of Ideiasnet’s interest in Sadig 19.6% January-08 0.0% Sadig to the company’s executives (management buy-out), as described in Automatos 19.0% January-08 34.6% the following table: • In 2008, the Company intensified its presentations to foreign investors and participated in events in Buenos Aires, Santiago, London, New York and Washington. • On January 15, 2008, Ideiasnet began to be traded on the Novo Mercado segment. • In January 2008, Ideiasnet, anticipating the Virtus operation, increased its interest in Automatos from 18.9% to 34.6%. • Visionnaire, a company in which Ideiasnet held a 40% stake, is now part of Virtus, which proves the synergies among the various companies in Ideiasnet’s portfolio. • On March 6, led by Automatos, the companies Visionnaire, Biosalc, Dedalus, Intelekto, Trellis and Volans announced the merger of their operations to create Virtus. In April, yet another company, the Tech4B, joined Virtus. • In February 2008, Padtec acquired Civcom, an Israeli company, which gave it control over the production of important components in its key area of operation, that is, wavelength multiplexing. • In March, Prosper started coverage of Ideiasnet with a buy recommendation for its shares. • At the end of the 1Q08, Ideiasnet acquired ETML (Empresa de Telefonia Multiusuário) aiming at uniting it to Trinnphone, focusing on its entrance in fixed incumbents sector (STFC). 3
  • 4. GROSS REVENUE (In R$ Millions) 959.6 136.4% 115.6% 405.9 221.0 241.5 112.0 1Q07 1Q07 (pro-forma) 1Q08 2006 2007 4
  • 5. EBITDA (in R$ Millions) 959.6 136.4% 115.6% 405.9 221.0 241.5 112.0 1Q07 1Q07 (pro-forma) 1Q08 2006 2007 5
  • 6. Portfolio Segmentation Gross Revenue • E-Commerce and Content – led by Officer. • Infrastructure and Software – led by Padtec and Automatos. • Wireless – led by Spring Wireless. • IdeiasVentures – led by Visionnaire, Bolsa de Mulher, iMusica, TrinnPhone and Braspag. Gross Revenue 1T07 Gross Revenue 1T08 1.1% 4.3% 0.7% 1.3% 1.4% 6.1% 91.4% 93.7% 6
  • 7. Portfolio Segmentation EBITDA EBITDA 1T07 EBITDA 1T08 5% 38% 3% 39% 56% 59% 7
  • 8. OFFICER - Distribution of IT products – % IDNT: 100,0% Portfolio Highlights in the 1Q08 • Posted a 13.0% growth in gross revenue between the 1Q07 and the 1Q08. The PCs sector has witnessed a slowdown in the last quarter. This fall was the result of some of the following reasons: (i) Production between January and March was 12% lower than in the same period in 2007. Note that in 2006, while production in Brazil grew by 3%, the IT sector alone grew by 51.6%; (ii) According to the Brazilian Association of the Electric and Electronic Industry (Abinee), large companies in the sector usually make adjustments in the beginning of the year due to the large scale year-end production, which explains the slower pace; (iii) The strike by the Federal Revenue Service auditors. Since bulk of the IT components are imported, local manufacturers are affected when their imports are not released by the customs authorities. The strike has affected the market since a large part of production relies on imported supplies; (iv) The joint “Persona” operation of the Federal Police and the Brazilian IRS aiming at eliminating the import fraud scheme. A market event not related to the company and non-recurring. Though it has affected the IT sector as a whole as of August 2007. (v) Many retailers overestimated Christmas sales and ended up with high inventories in the first quarter of the year; (vI) This period is generally weak. There are no sales to government and corporate business is lower. • At the end of the 1Q08, Officer organized Canal Officer 2008, the largest relationship event in the IT distribution market in Brazil. PADTEC - Network structure solutions - % IDNT: 34,2% • The Padted financial result was negatively influenced in this quarter by the start of operation with a new large corporate client, once the initial expenses in this cases tend to be higher. Some of the main Padtec clients have requested to postpone the delivery of equipments produced by the company. Therefore, delaying the result for the revenue and so affecting the EBITDA this quarter. • Acquired Civcom, an Israeli company, which gave it control over the production of important components in its key area of operations - wavelength multiplexing. Padtec retained Civcom’s R&D and product manufacturing setup in Israel. 8
  • 9. Portfolio Highlights in the 1Q08 AUTOMATOS - I T infrastructure management – %IDNT: 34,6% • On March 6, 2008, led by Automatos, the companies Visionnaire, Biosalc, Dedalus, Intelekto, Trellis and Volans announced the merger of their operations to form Virtus. • In January 2008, Ideiasnet, anticipating the Virtus operation increased its interest in Automatos from 18.9% to 34.6%. • In addition to the Virtus operation in May 2008, Telefônica and Automatos created TecTotal, a company that provides support services to residential clients, as described in the Subsequent Events section. VISIONNAIRE - Software House - % IDNT: 40% • In March 2008, Visionnaire joined Virtus, as described in the Subsequent Events section. IMUSICA - Management and Distribution of Digital Media – % IDNT: 93.0% • In partnership with Nokia, launched the full track download shop ‘Idéias Music Store’, to sell digital content of the operators América Móvil in Latin America and the Caribbean. This project, already in operation in Brazil, Ecuador, Chile, Colombia, Argentina and Mexico, will serve 147 million mobile phone users in 16 countries in the region. With this, iMusica has become Latin America’s biggest digital music content provider and América Móvil’s main content partner. • In Brazil, iMusica is also the official content aggregator for independent recording companies in Brazil and abroad, for full track of TIM and Vivo download stores in the country. • Through Coolnex, in which it holds a 30% stake, iMusica plans to enter the retail market to sell prepaid cards at leading stores, for downloading music. 9
  • 10. Portfolio Highlights in the 1Q08 BOLSA DE MULHER - Solutions for women – % IDNT 93.0% • Bolsa de Mulher was chosen by portal MSN as the exclusive partner for content targeted at women. MSN’s strategy follows the growing share of Brazilian women using the Web. According to Ibope/NetRatings data, the MSN homepage has been the most visited in Brazil since August 2007, and expects to attract a larger number of Web users by providing specialized news. • In March, launched the Universidade Feminina – the first e-learning center exclusively targeted at women. In just two months after going online, the Universidade Feminina had received more than 25,000 applications. • Today, the portal for women’s solutions has more than 2.3 million unique visitors per month and the average time spent in the site is 26 minutes. The increase in the number of unique visitors was of 106% if comparing March, 2007 to March, 2008. •The company’s metrics are similar – and even superior - to its American peers (according to Alexa), where there is higher feminine presence in the web • At the same time the expected expansion to Latin America in the first half of this year, Bolsa de Mulher consolidates its position as feminine global player. 10
  • 11. Portfolio Highlights in the 1Q08 TRINNPHONE - Telecommunications - %IDNT 60.0% • Trinn is the sector’s consolidator and intends to promote strategic alliances, mergers and occasional portfolio acquisitions of companies with proven quality but without conditions to grow on their own in this highly competitive market. • In line with this positioning, Ideiasnet acquired ETML (Empresa de Telefonia Multiusuário) in March 2008, in order to merge the two companies, thereby enabling Trinn’s entry into the Fixed Commuted Telephone Services sector. • In line with the plan designed in 2007, Trinn will bring its services to São Paulo and migrate its structure to the more advanced and safer Next Generation Network (NGN), to provide better quality to its customers. By the end of the year, it plans to launch fixed telephone with broadband service in Rio de Janeiro and São Paulo. BRASPAG - Electronic payments – % IDNT: 25.0% • Braspag is the Latin American leader in online payment processing and call centers. • The following world leaders have chosen Braspag for their transaction processing requirements in Brazil, Mexico, Argentina and Chile: Google, Yahoo, Dell Computers, Apple, IBM, Mercado Livre, Submarino (B2W), and Ideiasnet companies, among others. • In 2007, Braspag processed transactions worth R$ 4.5 billion and established important partnerships, notably with Netcredit, the company recently acquired by Banco BGN to offer credit to consumers who purchase online. • The company entered into an alliance with Paggo of the Oi Group, which will offer, through Braspag, its new payment method that replaces credit cards: Oi Paggo. • The company is expanding its operations and will shortly open a branch in Mexico City. It already serves a few large international clients in Mexico, such as Apple Store México, but will also target Mexican companies as direct clients through a broad partnership with a local bank. 11
  • 12. SYNERGY AMONG THE COMPANIES IN THE PORTFOLIO Automatos and Visionnaire form new company Virtus Automatos and Visionnaire, companies in which Ideiasnet holds interest, are now part of Virtus, proving the synergies between the companies in Ideiasnet’s portfolio and management’s sense of opportunity and commitment to creating the best value for shareholders of Ideiasnet. The process of identifying the synergies among the companies in Ideiasnet’s portfolio and future acquisitions is in an advanced stage and new mergers are being structured for the next quarters SUBSEQUENT EVENTS Creation of TecTotal – Partnership between Telefônica and Automatos. In May 2008, Telefônica and Automatos created TecTotal, a company that provides technical support to residential customers, and offers installation, maintenance and support services to all kinds of electronic and IT equipment, and providing integration among them. Increase in Private Capital On May 14, Ideiasnet informed its shareholders and the market that the Company’s Board of Directors approved, by unanimous vote, the increase in the Company’s capital stock by means of a private subscription in the amount of R$ 100.5 million through the issue of 15.0 million new book-entry common shares with no par value. The approved capital increase is underwritten by Centennial Asset Mining Fund LLC, company related to the EBX group, upon the condition that at least 45% of the shares to be issued as part of the capital increase should be free for subscription by Centennial. Ideiasnet’s shareholders can exercise their preemptive right within 30 days of the publication of the respective notice. 12
  • 13. IDEIASNET The long-term TMT investment in Brazil IDNT3 Daily Average Volume of Transactions (in R$ million) 4.38 3.83 2.90 In 2007, Ideiasnet shares (IDNT3) registered a financial volume of R$ 229,59 millions at the Bovespa. Average daily volume of transactions in 2007 was approximately R$ 3.38 millions. 0.85 0.25 0.05 2004 2005 2006 2007 1Q07 1Q08 13
  • 14. THE COMPANY´S INVESTMENTS In 1Q08, Ideiasnet invested R$ 2,18 millions in the investee companies: Investment Investment Sector Company (R$ thousand) (%) Infrastructure & Automatos R$ 450.0 20.6% Software iMúsica and IdeiasVentures R$ 1,355.0 62.2% Trinnphone Other Companies R$ 374.5 17.2% NET DEBIT At the end of the 1Q08, Ideiasnet’s net debt in proportion to its stake in the investee companies was R$ 71,1 million. 14
  • 15. Comparative Quarterly Yearly EQUITY INCOME OF THE COMPANY 1Q08 Portfolio Results 1Q07 2007 1Q08 GROSS REVENUE 241,489 220,996 959,609 (+) Proportional Portfolio Results 468 NET REVENUES 180,401 183,444 771,605 (-) Non-considered Results (481) (=) EBITDA 1,857 7,814 21,454 (-) Consolidated Companies Results 850 Ebitda margin 1.0% 4.3% 2.8% (=) Equity Income 98 (=) Net Income 468 3,708 9,701 (+) Equity Income 98 (+) Provisions 531 Holding Financial Statement 1Q08 1Q07 3M08 3M07 (+) Foreign Exchange (31) (=) Accounting Equity Income 599 Gross Revenues 233,322 15,865 233,322 15,865 ( - ) Deductions (50,903) (1,949) (50,903) (1,949) Net Operating Revenues 182,419 13,916 182,419 13,916 ( - ) Cost of goods sold (155,051) (8,798) (155,051) (8,798) Gross Operating Profit 27,368 5,118 27,368 5,118 Operating Expenses General and Administrative (28,284) (4,696) (28,284) (4,696) Follow-on expenses (652) - (652) - Financial (3,167) (1,017) (3,167) (1,017) Financial Revenues 3,259 225 3,259 225 Financial Expenses* (6,426) (1,242) (6,426) (1,242) Other Operating Revenues/Expenses 1,613 21 1,613 21 Depreciation and Amortization (1,359) (440) (1,359) (440) Equity Income 599 2,433 599 2,433 Operating Results (2,578) 1,419 (2,578) 1,419 Non-Operating Results 48 13 48 13 Earning before taxes (2,530) 1,432 (2,530) 1,432 Income Tax and Social Contribution (543) (4) (543) (4) Result (3,073) 1,428 (3,073) 1,428 * Ideiasnet’s, Officer’s and Softcorp’s Financial Operating 15 Expenses. (In R$ million)
  • 16. DISCLAIMER This presentation may contain forward-looking statements concerning future trends and results. These projections are subject to risks and uncertainties and future results may differ materially from such forward-looking statements. Many of these risks refer to factors that are beyond Ideiasnet’s control or ability to anticipate, including market conditions, currency fluctuations, the behavior of competitors, the regulatory environment, the company’s ability to continue raising funds and changes in the social and political context in which Ideiasnet operates or in economic trends or conditions, including inflation and changes in consumer confidence levels, on a global, national or regional scale. Readers are hereby advised not to rely only on these trends and projections, nor is Ideiasnet obliged to publish any changes to these trends or projections to reflect subsequent events or circumstances. For additional information, please contact our IR team: Rodin Spielmann CFO and Investor Relations Officer ri@ideiasnet.com.br 16