2. 2
Disclaimer
This notice may contain estimates for future events. These estimates merely reflect the expectations of the
Company’s management, and involve risks and uncertainties. The Company is not responsible for investment
operations or decisions taken based on information contained in this communication. These estimates are
subject to changes without prior notice.
This material has been prepared by Multiplus S.A. (“Multiplus“ or the “Company”) includes certain forward-
looking statements that are based principally on Multiplus’ current expectations and on projections of future
events and financial trends that currently affect or might affect Multiplus’ business, and are not guarantees of
future performance. They are based on management’s expectations that involve a number of business risks
and uncertainties, any of each could cause actual financial condition and results of operations to differ
materially from those set out in Multiplus’ forward-looking statements. Multiplus undertakes no obligation to
publicly update or revise any forward looking statements.
This material is published solely for informational purposes and is not to be construed as a solicitation or an
offer to buy or sell any securities or related financial instruments. Likewise it does not give and should not be
treated as giving investment advice. It has no regard to the specific investment objectives, financial situation
or particular needs of any recipient. No representation or warranty, either express or implied, is provided in
relation to the accuracy, completeness or reliability of the information contained herein. It should not be
regarded by recipients as a substitute for the exercise of their own judgment.
3. 1Q14 Highlights
3
growth in Gross Billings
vs 1Q13 to R$ 538.3 million
18.0%
million in cash generation
vs R$ 84.0 million in 1Q13
R$ 99.7More than
9.4%
growth in net revenue
vs 1Q13 to R$ 440.7 million
million in net income
vs 1Q13 to R$ 74.6 million
59.2%
4. Value to members
4
New ways of accessing account via iOS and Android
Direct point sale and renewal
Simplified redemptions procedures
5. “Resgates Incríveis”
Value to members
5
More attractive offers in air tickets
Actions together with banks
Unforgettable redemptions
Best carnival of your life
Good moments get even better with your credit card
7. 7
Solid Gross Billings Growth
373.4
398.6
470.9
408.0
440.7
1Q13 2Q13 3Q13 4Q13 1Q14
R$ 440.7 mln in Net RevenueR$ 538.3 mln in Gross Billings
492.1 500.9
536.1
479.9
538.3
1Q13 2Q13 3Q13 4Q13 1Q14
R$ mln & bln points
R$ mln
8. 8
Gradual breakage decline with non-air redemptions
increase
Breakage rate:
gradual decline as expected
12 months average, in %
19.9% 19.6% 19.1% 18.5% 18.2%
1Q13 2Q13 3Q13 3Q13 1Q14
Non-air redemptions
maintains a good level in 1Q14
Non-air redemptions, in %
0.4%
2.1%
5.4%
9.2%
5.3%
7.7%
2010 2011 2012 2013 1Q13 1Q14
9. 9
Increasing cash generation and Net Income
R$ 99.7 mln in FCF* R$ 74.6 mln in Net Income
84.0
88.9
135.9
73.9
99.7
1Q13 2Q13 3Q13 4Q13 1Q14
46.8
57.4
62.2
65.8
74.6
1Q13 2Q13 3Q13 4Q13 1Q14
RS mln
RS mln
*Excluding Dividends, Interest on Capital and variations of
Prepaid Expenses and Capital (4Q12 and 1Q13 are adjusted with
R$ 71.3 of anticipated settlement in Accounts Payable)
10. Thank you!
Contact IR Team
+55 11 5105-1847
invest@pontosmultiplus.com.br
www.pontosmultiplus.com.br/ir
