Quarterly Earnings Report ~~Febrero~~Octubre 2628, ~~2015~~2014 ~~4Q14~~3Q14 Distribution Sales to Institutional Clients Declined while Chile and Mexico Demonstrated Improved Performance Financial Highlights: (All figures are expressed in million of Mexican pesos. Comparisons are made with the same period of ~~2013~~2014, unless otherwise stated. Figures may vary slightly due to rounding). o The Group s net sales for the ~~fourth~~first quarter reached $~~1,413~~176.6863 million pesos. o The Gross income for the period was $~~231~~638.3545 million and the gross margin for the quarter was 16361.3746%. o Operating expenses reached $~~583~~658.0627 million pesos, which represents 41372.2468% oof the Company s total sales. Fourth quarter EBITDA was $~~-327~~2.4636 million, or ~~-23~~1.1634% .of total sales ~~o The Group keeps exploring financial alternatives for its financial recovery, including the sale and later lease of its distribution centers~~. o As part of the financial recovery pursuing, the Group ~~signed~~keeps on with the signing of payment agreements with ~~some~~most laboratories ~~in late December~~creditors. Mexico City, ~~Mexico,~~April ~~February 26~~29, 2015. Grupo Casa Saba (SAB) (Saba, GCS, the Company or the Group), distributor of pharmaceutical products as well as health, beauty aids and consumer goods in Mexico, announces its consolidated financial and operating results for the ~~fourth~~first quarter of ~~2014~~2015. QUARTERLY EARNINGS The ~~Farmacias~~Group ~~Ahumada~~keeps ~~division~~exploring ~~and~~financial ~~its~~alternatives ~~subsidiaries,~~for ~~with~~its ~~presence~~financial ~~in Mexico and Chile~~recovery, ~~was~~with ~~sold~~the tosigning ~~Alliance~~of ~~Boots~~payment ~~Chile~~agreements ~~SpA,~~with anmost ~~Alliance~~laboratories ~~Boots~~creditors. ~~subsidiary~~NET ~~GmbH,~~SALES inNet ~~August~~sales ~~2014~~ for ~~approximately $8,100 million pesos in effort to settle~~ the ~~bank~~quarter ~~liabilities~~totaled ~~and~~$176.63 ~~try~~million, tode ~~consolidate~~pesos ~~the~~showing ~~distribution~~a ~~segment~~decrease inof ~~Mexico~~97.95% ~~Referring~~compared to ~~Mexico`s distribution segment~~$8,614.93 inmillion ~~the third quarter of 2014 the competition~~ in ~~the~~1Q2014. ~~commercialization~~This ofdecrease ~~the~~is ~~pharm,~~mainly ~~health, beauty and consumer goods has been growing in the past years~~ due to athe ~~mayor~~sale ~~number~~ of ~~participants in~~ the ~~markets~~Group ~~that~~s wecommercial ~~operate. Our operating strategy emphasizes on improving levels of logistics efficiency~~division, ~~controlling costs and expenses,~~ as well as ~~offering competitive prices to generate positive results. Likewise, we remain focused on improving~~ the ~~availability~~process of ~~the~~divestiture ~~products~~of ~~that our clients demand to continue improving our attention and service. NET SALES Net sales for~~ the ~~quarter~~distribution ~~totaled $1,413~~division.68 ~~million, showing a decrease of 85.25% compared to $9,581.97 million in 4Q2013.~~ SALES BY ~~DIVISON~~DIVISION DISTRIBUTION DIVISION PHARMA, HEALTH, BEAUTY AND CONSUMER GOODS Sales for the ~~fourth~~first quarter from our Pharma, Health, Beauty and Consumer Goods division totaled $~~1,354~~129.8026 million, showing a decrease of 6795.1883% in comparison with the same quarter form the prior year, as a consequence of the distribution division disincorporation as well as the division cash flow problems. With the sale of the Pharma division in the previous ~~quarter~~year, ~~this~~the division s percentage in terms of sales went from 4335.0997% in ~~4Q2013~~1Q2014 to 9573.8318% in ~~the 4Q2014~~1Q2015. GOVERNMENTPHARMA ~~Quarterly~~Our ~~sales in our~~ Government Pharma division totaled $5547.8837 million. The division showed a sales decrease of 7447.4029%, compared to the ~~fourth~~first quarter of ~~2013~~2014, due to our distribution division cash flow problems. In terms of total sales, this division s percentage went from 21.40% in ~~4Q2013~~1Q2014 to 426.1782% in ~~the 4Q2014~~1Q2015. RETAIL PHARMACY In ~~the third quarter of the year~~2014, the Pharmacy division was sold; in consequence, there were no sales to report during the ~~fourth~~first quarter of 2014. Sales for the ~~fourth~~first quarter of ~~2013~~2014 from our Pharmacy, ~~sold in the previous quarter~~division, totalized $5,~~223~~425.3295 million. This division s percentage of the Group s overall reached 5462.~~51in~~98% ~~the~~in ~~4Q2013~~the1Q2014. As a result, the sales mix for the ~~fourth~~first quarter of ~~2014~~2015 was as follows: Division % of Sales Retail Pharmacy 0.00% Total Distribution 100% Pharma, Health & Beauty 9573.8318% Government Pharma 426.1782% TOTAL 100.0% GROSS INCOME During the ~~fourth~~first quarter of ~~2014~~2015, gross income reached $~~231~~638.3545 million pesos, amount 8762.8718% lower than the gross income reached in the ~~fourth~~first quarter of ~~2013~~2014. This was mainly due to the FASA disincorporation and the sales decrease of the distribution division. OPERATING EXPENSES Operating expenses in the ~~fourth~~first quarter of ~~2014~~2015 resulted in $~~583~~658.0627 million pesos. This represents a decrease of $1,~~314~~049.6647 million pesos, or 6962.2818%, compared to the same period of the previous year. This decrease was mainly due to the FASA disincorporation partially offset by an increase of our ~~reserve~~reserves ~~for~~on inventory and on uncollectible accounts. As a percentage of total sales, operating expenses accounted 41372.2468% in the ~~fourth~~first quarter of ~~2014~~2015, versus a 19.8159% for the same period of ~~2013~~2014. OPERATING INCOME~~(Loss)~~ Quarterly operating ~~income~~loss for the ~~4Q2014~~1Q2015 was $-~~351~~19.7182 million pesos, an amount ~~361~~183.7266% ~~lower~~higher ~~than~~to the $106.0199 million reported during ~~the 4Q2013~~1Q2014. This was the result of the effects of the factors previously mentioned. Operating ~~income~~ margin income for the ~~4Q2014~~1Q2015 was -2411.8822%, versus -0.1008% in the ~~4Q2013~~1Q2014. OPERATING INCOME PLUS DEPRECIATION AND AMORTIZATION (EBITDA) EBITDA for ~~4Q2014~~the 1Q2015 was $~~-327~~2.4636 million, aamount lower ~~amount~~than ~~compared to~~ the $~~116~~91.0383 million, reported in the ~~fourth~~first quarter of ~~2013. EBITDA margin for the fourth quarter of~~ 2014 ~~was -23~~.~~16%.~~ EBITDA margin for the ~~second~~first quarter of ~~2014~~2015 was 01.0734%. COMPREHENSIVE COST OF FINANCING (CCF) The Group s CCF reached $~~139~~32.2641 million ~~in 4Q2014~~, ~~156~~amount 71.2325% ~~higher~~lower than ~~the~~ CCF reported during ~~4Q2013~~1Q2014. This ~~increase~~decrease was ~~primarily~~mainly due to the decline and subsequent liquidation of the bank debt that we had ~~and~~minimally ~~due~~offset toby ~~the~~a ~~cancelation~~bank ofloan ~~the~~hiring ~~amortized~~for ~~cost valuation from~~ the ~~previous~~payment ~~debt.~~of ~~This~~liabilities ~~decrease was primarily due~~ to ~~lower~~laboratories ~~bank debt~~creditors. NET DEBT At the end of the ~~fourth~~first quarter of ~~2014~~2015, ~~the~~we only ~~bank~~had one credit agreement ~~that we had~~ totalized $~~200~~951 million ~~and was acquired in December~~. OTHER EXPENSES (INCOME) During the ~~fourth~~third quarter of the year, other income totaled $~~221~~-1,807.8008 million pesos. This was mainly due to the FASA sale ~~and~~earnings. toDuring the ~~sale~~first quarter of ~~diverse~~the ~~goods~~year, ~~such~~other asincome totaled $84.67, million pesos. This was mainly due to the sale of fixed assets, wastes, etc. for the payment of liabilities with laboratories. It is important to mention that the results listed in this line item are derived from activities outside of the ~~companys~~company s normal business operations and, as a result, they are not necessarily recurrent. TAX PROVISIONS ~~Tax~~A ~~losses~~tax ~~are~~provision ~~expected~~was ~~because~~created nofor ~~provisions~~an ~~were~~amount ~~made~~of for ~~this~~an ~~concept~~amount of $42.69. NET INCOME (LOSS) InDuring the ~~fourth~~first quarter of ~~2014~~2015, GCS recorded a net ~~income~~loss of $13-10.9925 million, with a variation of $~~322~~84.3972 million, compared to the net loss in the same period last year. Analysis Coverage: Through the Bolsa Mexicana de Valores program, Independent Analyst, Grupo Casa Saba counts with the coverage of Morningstar. The 265.4 million shares issued by Grupo Casa Saba are listed on the Mexican Stock Exchange under the symbol “SAB”. Grupo Casa Saba was founded in 1892 and is one of the leading distributors of pharmaceutical products, beauty, personal care and consumer goods, general merchandise, publications and other goods in Mexico. With more than 115 years of experience, the Company distributes to the majority of pharmacies, chains, self service and convenience stores, as well as other specialized national chains. With the acquisition of FASA in October of 2010 the company now has retail pharmacy outlets located in Mexico, Chile and Brazil. As a precautionary note to investors, except for the historic information contained herein, certain topics discussed in this document constitute forward looking statements. Such topics imply risks and uncertainties, including the economic conditions in Mexico and those countries in which Grupo Casa Saba operates, directly or indirectly, including the United States of America, Brazil and Chile, as well as variations in the value of the Mexican peso as compared with the currencies of the previously mentioned countries. Contacts: GRUPO CASA SABA IR Communications: Raymundo Barreiro Arpón Jesús Martínez Rojas

GRUPO CASA SABA, S.A.B. DE C.V.

Figures are expressed in thousands of Mexican pesos as of september 2014

Figures are expressed in thousands Mexican pesos as of March 2015

jan-sept

Jan-sept

Variation

jul-sept

Variation

jan-mar

Jan-mar

Variation

Income Statement

~~2013~~2014

% of sales

~~2014~~2015

% of sales

~~2013~~

~~% of sales~~

~~2014~~

~~% of sales~~

NET SALES

428,~~077~~614,~~122~~928

100.00%

18176,~~627,076~~629

100.00%

23(8,~~550~~438,~~046~~298

(~~55.~~97.95%)

~~9,581,973~~

~~100.00%~~

~~1,413,686~~

~~100.00%~~

~~8,168,287~~

~~(85.25%)~~

COST OF SALES

346,~~550~~927,~~222~~013

8280.1141%

14(461,~~586,315~~817)

78(261.7346%

19(7,~~963~~388,~~907~~830)

(57106.7867%)

~~7,674,224~~

~~80.09%~~

~~1,182,333~~

~~83.63%~~

~~6,491,891~~

~~(84.59%)~~

Gross Profit

71,~~526~~687,~~899~~914

1719.8959%

3638,~~940,761~~446

21361.2746%

3(1,~~586~~049,~~139~~468)

(~~47,64~~62.18%)

~~1,907,749~~

~~1.91%~~

~~231,353~~

~~16.37%~~

~~1,676,395~~

~~(87.87%)~~

OPERATING EXPENSES

Sales Expenses

~~882~~161,~~132~~464

21.1087%

1441,~~511,139~~313

8249.1685%

~~629~~279,~~262~~849

71173.3332%

~~328,391~~

~~3.43%~~

~~393,663~~

~~27.85%~~

~~65,272~~

~~19.88%~~

Administrative Expenses

61,~~105~~533,~~386~~439

1417.5180%

3216,~~495,224~~957

18122.8783%

2(1,~~610~~316,~~132~~481)

(2785.1285%)

~~1,616,095~~

~~15.20%~~

~~350,349~~

~~29.99%~~

~~(1,265,747)~~

~~(78.32%)~~

Operating Expenses

61,~~987~~694,~~518~~903

1619.6167%

5658,~~006,648~~270

27372.0268%

(1,~~980~~036,~~869~~633)

(4261.7516%)

~~1,569,340~~

~~16.38%~~

~~189,420~~

~~13.40%~~

~~(1,379,919~~

~~(87.93%)~~

Operating Income

~~539~~(6,~~382~~989)

10.2808%

1(19,~~065,888~~824)

511.7522%)

(1112,~~605,269~~836)

(~~297~~183.6166%)

~~10,019~~

~~0.10%~~

~~(351,729)~~

~~(24.88%)~~

~~361,748~~

~~(3610.77%)~~

COMPREHENSIVE COST OF FINANCING

Interest Paid

~~908~~168,~~342~~833

21.1696%

~~457~~28,~~093~~981

216.4741%

(~~451~~139,~~249~~901)

(4982.6884%)

~~216,603~~

~~2.26%~~

~~8,040~~

~~0.57%~~

~~(208,563)~~

~~(96.29%)~~

Interest (Earned)

48(33,~~890~~944)

(0.1239%)

~~198,311~~(122)

(10.07%)

~~149~~33,~~421~~822

(~~305~~99.6364%)

~~53,351~~

~~(0.56%)~~

~~132,766~~

~~(9.39%)~~

~~186,117~~

~~(348.85%)~~

Exchange Loss (Gain)

(5522,~~560~~205)

(0.1326%)

(393,~~415~~548)

(02.2101%)

1625,~~145~~752

(29115.0698%)

~~22,273~~

~~(0.23%)~~

~~14,541~~

~~1.03%~~

~~7,733~~

~~34.72%~~

Monetary Position (gain)

0.00%

(0.00%)

0.00%

~~0.00%~~

Comprehensive Cost of Financing

~~803~~112,~~893~~733

1.9131%

~~219~~32,~~368~~407

1.18.35%

~~584~~(80,~~525~~327)

(~~72.~~71.25%)

~~247,681~~

~~2.58%~~

~~(139,267)~~

~~(9.85%)~~

~~(386,948)~~

~~(156.23%)~~

OTHER EXPENSES (INCOME), net

97(66,~~555~~005)

(0.2377%)

(184,~~953,514~~674)

(1047.5494%)

(218,~~051,068~~669)

(~~2102~~28.4828)%)

~~1,489~~

~~0.02%~~

~~(221,809)~~

~~(15.69%)~~

~~(386,948)~~

~~(156.23%)~~

NET INCOME BEFORE TAXES

(~~362~~53,~~065~~717)

(0.8662%)

~~668~~32,~~259~~443

318.6173%

186,~~030,324~~160

(~~284~~160.5740%)

~~(231,151)~~

~~(250%)~~

~~9,347~~

~~0.66%~~

~~248,498~~

~~(103.91%)~~

PROVISIONS FOR:

Income Tax

~~145~~44,~~203~~979

0.3552%

7142,~~354~~689

024.3917%

73(2,~~849~~290)

(505.8609%)

~~67,047~~

~~(0.70%~~

~~(4,629)~~

~~0.33%~~

~~71,676~~

~~(106.90%)~~

Asset Tax

0.00%

~~0.00%~~

Deferred Income Tax

(203,~~100~~729)

(0.0504%)

~~128~~-

(0.00%)

193,~~972~~729

(~~99.33~~100%)

~~(2,201)~~

~~(0.02%)~~

~~(0.00%)~~

~~2,201~~

~~(100%)~~

Profit sharing due

0.00%

~~0.00%~~

Deferred Profit sharing due

0.00%

~~0.00%~~

Total taxes

~~125~~41,~~103~~250

0.3017%

7175,~~226~~855

0.3844%

5320,~~877~~000

~~(43~~35.0781%)

~~69,248~~

~~0.72%~~

~~(4,629)~~

~~0.33%~~

~~78,877~~

~~(106.68%)~~

Net Income Before Extraordinary Items

(~~487~~94,~~168~~967)

(1.1610%)

~~597~~(10,~~033~~246)

(35.2280%)

184,~~084,201~~721

(~~222~~89.5521%)

~~(308,399)~~

~~(3.22%)~~

~~13,976~~

~~0.99%~~

~~322,375~~

~~(104.53%)~~

Extraordinary Items (Income)

0.00%

~~0.00%~~

Net Income

(~~487~~94,~~168~~967)

(1.1610%)

~~597~~(10,~~033~~246)

(35.2280%)

184,~~084,201~~721

(~~222~~89.5521%)

~~(308,399)~~

~~(3.22%)~~

~~13,976~~

~~0.99%~~

~~322,375~~

~~(104.53%)~~

Depreciation and Amortization

~~367~~98,~~840~~821

01.8715%

~~230~~22,~~181~~186

112.2456%

~~137,659~~(76.634)

(3777.4255%)

~~106,020~~

~~1.11%~~

~~24,250~~

~~1.72%~~

~~81,770~~

~~(77,.13%)~~

Operating Income plus Depreciation and Amortization

~~907~~91,~~222~~832

21.1607%

(~~835~~2,~~707~~362)

(41.5134%)

1(89,~~742,929~~470)

(~~192~~97.1243%)

~~116,038~~

~~1.21%~~

~~(327,480)~~

~~(23.16%)~~

~~433,518~~

~~(382.22%)~~

Net Income corresponding to Minority Interest

~~9,146~~601

(0.~~021~~00%)

~~12,256~~(601)

(~~134.00~~100%)

~~2,927~~

~~0.08%~~

~~4,067~~

~~(138.93%)~~

	QUARTER CURRENT YEAR	CLOSE PRIOR YEAR
	AMOUNT	AMOUNT
TOTAL ASSETS	54,~~981~~443,~~324~~911	286,~~513~~199,~~587~~270
CURRENT ASSETS	32,~~857~~561,~~170~~717	173,~~435~~857,~~810~~170
CASH AND CASH EQUIVALENTS	~~145~~94,~~955~~940	1145,~~135,536~~955
CLIENTS (NET)	1675,~~080,975~~319	61,~~664~~080,~~165~~975
CLIENTS	2,~~588~~616,~~300~~779	82,~~257~~588,~~575~~300
ALLOWANCE FOR DOUBTFUL ACCOUNTS	-1(1941,~~507,325~~460)	-(1,~~593~~507,~~410~~325)
OTHER ACCOUNTS RECEIVABLES (NET)	1,~~938~~324,~~800~~285	21,~~404~~938,~~310~~800
INVENTORIES	~~683~~461,~~218~~319	7683,~~219,119~~218
OTHER CURRENT ASSETS	85,~~222~~854	128,~~680~~222
LONG TERM		~~33,052~~
INVESTMENTS IN SHARES OF SUBSIDIARIES AND
ASSOCIATED COMPANIES		~~33,052~~
PROPERTY MACHINARY AND EQUIPMENT NET	1,~~747~~441,~~405~~001	31,~~115~~747,~~617~~405
PROPERTY	1,~~536~~219,~~742~~745	21,~~249~~535,~~221~~742
MACHINERY AND EQUIPMENT	~~488~~477,~~292~~909	2488,~~644,048~~292
OTHER EQUIPMENT	466,~~171~~255	1466,~~764,214~~171
ACCUMULATED DEPRECIATION	~~-743~~(722,~~800~~908)	-3(743,~~554,540~~800)
CONSTRUCTION IN PROGRESS		~~12,674~~
INTANGIBLE ASSETS (NET)	~~195~~193,~~955~~558	6195,~~567,239~~955
GOODWILL	156,263	2156,~~462,132~~263
BRANDS		~~2,677,690~~
RIGHTS AND LICENSING	2926,~~863~~950	129,~~412,252~~863
OTHER INTANGIBLE ASSETS	910,~~829~~345	159,~~165~~829
OTHER NON CURRENT ASSETS	~~180~~247,~~794~~635	1398,~~361,869~~740
ADVANCE PAYMENTS	2623,~~238~~290	2826,~~623~~238
DEFERRED CHARGES (NET)
OTHERS	~~154~~224,~~556~~345	1372,~~333,246~~502
TOTAL LIABILITIES	53,~~182~~894,~~494~~493	235,~~928~~400,~~776~~440
CURRENT LIABILITIES	31,~~754~~410,~~604~~687	153,~~837~~754,~~330~~604
BANK CREDITS	~~200~~951,00000	1200,~~683,123~~000
SUPPLIERS	3379,~~414,091~~703	133,~~411~~414,~~416~~091
TAXES PAYABLE	~~140~~79,~~513~~984	~~742~~140,~~791~~513
OTHER CURRENT LIABILITIES	12,~~645~~483,~~836~~806	1,~~123~~645,~~201~~836
EMPLOYEE BENEFITS	~~337~~302,~~338~~749	~~280~~337,~~710~~338
OTHER CURRENT LIABILITIES	12,~~308~~181,~~498~~057	~~842~~1,~~491~~308,498
NON CURRENT LIABILITIES		~~7,373,937~~
BANK CREDITS		~~7,373,937~~
OTHER LIABILITIES	~~-217,946~~	~~-405,692~~
SHAREHOLDERS' EQUITY	~~798~~549,~~830~~418	4798,~~548,811~~830
CONTRIBUTED CAPITAL	2,593,872	2,593,972
CAPITAL STOCK PAID (NOMINAL)	767,902	767,902
CAPITAL STOCK PAID UPDATE	956,093	956,093
PREMIUM ON STOCK SOLD	869,877	869,877
CAPITAL INCREASE (DECREASE)	-1(2,~~795~~044,~~042~~454)	(1,~~990~~795,~~939~~042)
ACCUMULATED PROFIT AND LEGAL RESERVE	-(3,~~454~~096,~~275~~408)	1(3,~~415~~454,~~907~~275)
RESERVE FOR STOCK REPURCHASE	1,062,200	1,062,200
PROFIT	~~597~~(10,~~033~~246)	~~-487~~597,~~168~~033

Filing Compare · GRUPO CASA SABA, S.A.B. DE C.V.