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Grupo Casa Saba Announces Quarterly Earnings Report 2Q09
Date:7/27/2009

of 2008.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents at the end of the second quarter of 2009 was $199.15 million.

COMPREHENSIVE COST OF FINANCING

During the period, GCS's comprehensive cost of financing (CCF) rose to $58.63 million. This was primarily due to an increase in the amount of interest income paid.

These interest payments are related to the long-term credit that was obtained as a result of the acquisition in Brazil as well as the interest that was generated from the utilization of short-term credits for our operations in both Mexico and Brazil.

OTHER EXPENSES (INCOME)

During the second quarter of 2009, the Company registered an income of $2.26 million in other expenses (income). The expenses (income) from this line item were derived from activities that are distinct from the company's everyday business operations.

TAX PROVISIONS

During the second quarter, tax provisions rose to $43.72 million, $55.04 million of which were related to income tax payments and ($11.32) million were attributed to deferred income tax.

NET INCOME

GCS's net income for the second quarter was $147.03 million, a decrease of 30.02% compared to the second quarter of 2008.

The net margin for the period was 1.94%, a decline from the 3.02% net margin registered during the second quarter of 2008.

WORKING CAPITAL

During the second quarter of 2009, our accounts receivable days increased by 7.2 days from 2Q08 to reach 67.8 days. In addition, our accounts payable days rose by 4.0 days versus 2Q08, to reach 52.0 days. Finally, our inventory days were 55.0 days, an increase of 1.1 days compared to the same period of the previous year.

    Contacts:

    GRUPO CASA SABA
    Patrik Zielinski
    +52 (55) 5284-6623
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SOURCE Grupo Casa Saba
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