Coca-Cola Icecek A.S. · BIST:CCOLA
Coca-Cola Icecek A.S — Q3 2010 Earnings Presentation
19 slides from Coca-Cola Icecek A.S's earnings presentation, Nov 8, 2010
Slide 1: 3Q10 Results
3Q10 Results November 8, 2010 Istanbul Michael A. O’Neill – CEO N. Orhun Köstem – CFO
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements including, but not limited to, statements regarding Coca-Cola İçecek’s (“CCI”) plans, objectives, expectations and intentions and other statements that are not historical facts. Forward- looking statements can generally
Slide 3: 3Q10 Review
3Q10 Review Delivered 232 million unit cases of sales volume in the third quarter, up by 15.6% Continued to grow volume in all key markets excluding Pakistan due to unprecedented floods Increased net revenue per case by 4.8% Registered strong operational performance Increased net income by 77.2%
Slide 4: Turkey
Turkey Turkey sales volume up by 13.5% in the third quarter on the back of strong growth in all categories Sparkling, and still category grew over 10%, and 20%, respectively Ramadan overlapping with high season turned to an opportunity to grow our sales volume Above average temperatures, consumer pr
Slide 5: Product Introductions in 3Q10 - Turkey
Product Introductions in 3Q10 - Turkey Cappy Lemonade Damla Minera Coke 3L Ramadan Şerbeti Cherry Natural - flavored
Slide 6: International Operations
International Operations International Operations’ share in total sales volume reached 25.3% in 3Q Volume Split (In mn u/c) the third quarter International; 25.3% Volume up by 22.1% on the back of improvement in local economies, stronger consumer sentiment, and Turkey; 74.7% new products Tight expen
Slide 7: Pakistan - Flat volume growth in the third quarter
Pakistan - Flat volume growth in the third quarter Unprecedented floods impacting Pakistan economy and consumption No damage to our employees or assets Flat volume in the third quarter, yet still up by high single digit year-to-date Continued to expand market penetration Created new point of sales b
Slide 8: Kazakhstan & Azerbaijan – Recovery of sales volume
Kazakhstan & Azerbaijan – Recovery of sales volume Strong volume growth on the back of customized strategies and improving economic outlook in Kazakhstan Benefited from improvements in route-to- market as well as favorable weather conditions in Azerbaijan Strong demand for new launches such as Fanta
Slide 9: Product Introductions in 3Q10 - International
Product Introductions in 3Q10 - International Piko Pulpy PET 0.5L Piko Pulpy PET 1L Nestea PET 1L Fanta Lemonades PET 0.5,1, 1.5L Tropic & Lemon Orange Lemon and Peach Dushes and Buratino Kazakhstan Kazakhstan Kazakhstan Kyrgyzstan Special Product Fanta Fruity Cappy relaunch PET 330ml, 1.5L Orange –
Slide 10: Volume up by 12.3% in 9M10
Volume up by 12.3% in 9M10 Turkey Volume Turkey Volume International Volume Consolidated Volume (Unit cases in millions) (Unit cases in millions) (Unit cases in millions) 535.3 398.9 136.4 476.7 357.3 119.4 9M09 9M10 9M09 9M10 9M09 9M10 Consolidated up by 15.6% to 232.4 million 3Q10 Turkey up by 13.
Slide 11: Net sales up by 12.1% in 9M10
Net sales up by 12.1% in 9M10 Turkey Net Turkey Net Sales Sales International Net Sales Consolidated Net Sales (TL in millions) (US$ in millions) (TL in millions) 2,224.0 1,721.6 332.9 1,983.7 1,542.9 282.0 9M09 9M10 9M09 9M10 9M09 9M10 Consolidated up by 21.1% to TL 967.7 million 3Q10 Turkey up by
Slide 12: EBITDA up by 16.2% in 9M10
EBITDA up by 16.2% in 9M10 Turkey EBITDA Turkey Net Sales International EBITDA Consolidated EBITDA (TL in millions) (US$ in millions) (TL in millions) 399.8 319.9 344.0 59.1 277.4 41.6 18.0% 18.6% 17.8% 17.3% 18.0% 14.8% 9M09 9M10 9M09 9M10 9M09 9M10 Consolidated up by 41.0% to TL 196.9 million 3Q10
Slide 13: Financial Review
Financial Review N. Orhun Köstem CFO
Slide 14: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / TL/$ International* TL/$ Turkey Period- Average End Functional TL USD September September Currency 30, 2010 1,4512 30, 2010 1,5142 Reporting December September TL USD Currency 31, 2009 1,5057 30, 2009 1,5675 ∆ (3.6%) ∆ (3.4%)
Slide 15: Key Financials – Consolidated
Key Financials – Consolidated Change Change 9M10 9M09 3Q10 3Q09 % % Volume 535.3 476.7 12.3% 232.4 201.1 15.6% Net Sales 2,224.0 1,983.7 12.1% 967.7 799.4 21.1% EBITDA 399.8 344.0 16.2% 196.9 139.6 41.0% Consolidated (TL Million) EBITDA 18.0% 17.3% 0.7 pp 20.3% 17.5% 2.8 pp Margin Net 239.3 186.9 28
Slide 16: Financial Expenses
Financial Expenses Financial Income / (Expense) Breakdown 9M10 9M09 (TL million) Interest income 28.5 15.2 Interest expense (-) (36.3) (25.9) Foreign exchange gain / (loss) (3.8) (11.3) Unrealized FX gain / (loss) - Borrowings 28.7 11.0 Gain / (loss) on derivative transactions (0.5) (1.4) Financial
Slide 17: Debt Structure
Debt Structure Million 9M10 FY09 ∆ USD denominated* 560 593 -6% EURO denominated* 43 66 -35% TL denominated 214 217 -1% Other (in TL terms) 8 34 -76% Total Financial Debt in TL 1.120 1.289 -13% Total Cash & Equivalent in TL 426 585 -27% Net Debt in TL 695 704 -1 % Net Debt in US$ 479 468 2% Maturity
Slide 18: Closing Remarks
Closing Remarks Michael A. O’Neill CEO
Slide 19: Thank You
Thank You Coca-Cola Icecek Investor Relations Tel: +90 216 528 3386 Fax: +90 216 365 8457 [email protected] www.cci.com.tr