Investor Presentaiton
II. BALANCE
CASH AND CASH EQUIVALENTS
Our cash generation amounted to 40.0 billion pesos, allowing us to finance an
investment of 14.0 billion pesos in fixed assets and repay our shareholders with
19.4 billion pesos, a record figure for Walmex. We repurchased 3.3 billion pesos
worth of own shares and paid 16.1 billion pesos in dividends. Our cash position
upon closing of 2012 amounted to 21.1 billion pesos, of which, 17.2 billion comes
from Mexico, 2.6 billion from Central America, and 1.3 billion pesos from Banco
Walmart.
Cash is invested in short-term debt securities. The Company neither conducts
transactions with derivatives, nor does it invest in the stock market. The Company
has not conducted any transactions not recorded in the Financial Statements.
Our cash generation and sound finances allowed us to invest in prices, open 235 new
units, remodel existing stores, and also pay dividends and repurchase own shares.
USES OF CASH
.
Investments in fixed assets: We continue reinvesting our earnings in projects
that serve to modernize our operating structure, from information systems to
logistics networks and the renovation of our stores and clubs, including the
opening of new units.
Dividends: The following chart shows the dividends paid during the last four
years (with values adjusted due to the split conducted in 2010), with 2013
being a record year in dividend payments.
•
Year
Dividend per share (pesos)
% of earning for the previous year
Cash spent (millions of pesos)
2010
2011
2012
2013
0.35
0.55
0.55
0.92
35%
50%
44%
69%
5,743
9,659
9,612
16,056
Repurchase of shares: The shareholders authorize the maximum amount
available for the repurchase of shares. Shares repurchased are subtracted from
shareholders' equity at the moment of repurchase and are formally cancelled
each year during the Shareholders' Assembly. The following chart shows the
investment in the repurchase of shares during the last four years (with values
adjusted due to the split conducted in 2010).
Programs
2010
2011
2012
2013
WORKING CAPITAL
Repurchased shares
(millions)
Invested amount
(millions of pesos)
112
3,472
103
3,455
27
1,088
96
3,328
In 2013, the Company continued operating with negative working capital
requirements, which has historically allowed for the self-financing of growth and
modernization.
The inventory balance as of December 31, 2013 amounted to 43.8 billion pesos,
which was financed by accounts payable to suppliers totaling 47.6 billion pesos.
WALMEX SHARE
We are the third most traded stock on the Mexican Stock Exchange -with a weight
of 7.05%, where we have traded since 1977. For the second consecutive year
we are included in the Dow Jones Sustainability Index for Emerging Markets, and
for the third consecutive year we are included in the Mexican Stock Exchange
Sustainable Index.
2013 Financial and
Social Responsibility Report
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