Coca-cola Icecek A.s. · BIST:CCOLA
Coca-cola Icecek A.s — FY2010 Earnings Presentation
21 slides from Coca-cola Icecek A.s's earnings presentation, Mar 29, 2011
Slide 1: FY10 Results
FY10 Results March 29, 2011 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: 2010 Review
2010 Review Reported 665 million unit cases of sales volume in 2010, up by 13.5% All categories delivered double digit growth in 2010 Delivered on our long-term strategic trust; EBITDA ahead of revenue and revenue ahead of volume growth 3
Slide 4: 2010 Sales Volume Breakdown
2010 Sales Volume Breakdown Volume split (uc) - Geography Volume split (uc) – Consolidated Turkey Still International Sparkling 19.5% 74.3% 25.7% 72.7% Tea 7.8% Volume split of International Operations (uc) - By Country Azerbaijan 19% Kazakhstan 24% Jordan 7% Turkmenistan 7% Kyrgyzstan 5% Pakistan I
Slide 5: Turkey
Turkey Turkey sales volume up by 12.6% in 2010 Strong performance in all categories Macro outlook and above average weather temperatures supporting top-line growth 5
Slide 6: Product Introductions in 2010 in Turkey
Product Introductions in 2010 in Turkey Coke 3L Fanta Tangerine and Blood Orange Cappy Ramadan Şerbeti and Lemonade Cherry Damla Minera Natural - flavored Nestea Mango - Doğadan RTD New Introductions in Pineapple NRTD Tea category 6
Slide 7: International Operations
International Operations International Operations’ sales volume reached 171 million unit cases in 2010, up by 16% Central Asia volume up by 25% Iraq sustained its strong volume growth Growth driven by customized RTM strategies and local product innovations 7
Slide 8: Pakistan Update
Pakistan Update Volume up by 8.3% for the full year negative effect of floods in the third quarter growth recovered to low teens in 4Q10. Market share improved to 28.7% on the back of accelerated cooler investments and increased market penetration 8
Slide 9: Kazakhstan & Azerbaijan Update
Kazakhstan & Azerbaijan Update Kazakhstan volume grew by 23% owing to customized market strategies and continued focus on execution Sales volume in Azerbaijan up by 19%, mainly due to improved consumer sentiment and intensive in-store merchandising Strong demand for new local tastes such as Fanta Du
Slide 10: Product Introductions in 2010 - International
Product Introductions in 2010 - International Piko Pulpy PET 0.5L Piko Pulpy Nestea PET 1L Fanta Lemonades Fanta Fruity NRB 250ml Tropic & Lemon PET 1L Lemon and Peach PET 0.5,1, 1.5L PET 2.25L Coca-Cola Kazakhstan Orange Kazakhstan Dushes and Buratino Can 250ml Jordan Coca-Cola Zero Kazakhstan Kyrg
Slide 11: Market Shares & Positions
Market Shares & Positions 2010 2009 2010 2009 2010 2009 Sparkling Fruit Juices & Nectars Water Turkey(1) 68.9% #1 69.2% #1 24.5% #1 25.1% #1 9.2% #2 8.8% #3 Pakistan 28.7% #2 27.8% #2 1.1% #9 1,6% #8 9.6% #3 7.7% #3 Kazakhstan 34.2% #1 34.2% #1 8.1% #3 8.0% #3 6.6% #3 4.6% #4 Azerbaijan 56.2% #1 52.
Slide 12: Net sales up by 14.4% in FY10
Net sales up by 14.4% in FY10 Turkey Turkey Net NetSales Sales International Net Sales Consolidated Net Sales (TL in millions) (US$ in millions) (TL in millions) 2,753.2 2,407.5 2,121.4 1,868.2 422.8 349.9 FY09 FY10 FY09 FY10 FY09 FY10 Consolidated up by 24.9% to TL 529.2 million 4Q10 Turkey up by 2
Slide 13: EBITDA up by 18.0% in FY10
EBITDA up by 18.0% in FY10 Turkey TurkeyNet Sales EBITDA International EBITDA Consolidated EBITDA (TL in millions) (US$ in millions) (TL in millions) 16.1% 15.9% 16.5% * 14.5% *14.8% * 13.5% 435.0 342.5 368.7 296.6 69.5 47.1 FY09 FY10 FY09 FY10 FY09 FY10 Consolidated up by 42.7% to TL 35.2 million 4
Slide 14: Financial Review
Financial Review N. Orhun Köstem CFO
Slide 15: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / TL/$ TL/$ International* Turkey Year-End Average Functional TL USD December December Currency 31, 2010 1,5460 31, 2010 1,4990 Reporting December December TL USD Currency 31, 2009 1,5057 31, 2009 1,5457 Presentation ∆ 2.7% ∆ (3.
Slide 16: Key Financials – Consolidated
Key Financials – Consolidated Change Change FY10 FY09 4Q10 4Q09 % % Volume 665.4 586.5 13.5% 130.2 109.8 18.5% Net Sales 2,753.2 2,407.5 14.4% 529.2 423.8 24.9% EBITDA 435.0 368.7 18.0% 35.2 24.7 42.7% Consolidated (TL million) EBITDA 15.8% 15.3% 0.5 pp 6.6% 5.8% 0.8 pp Margin Net 197.7 169.6 16.6%
Slide 17: Financial Expenses
Financial Expenses Financial Income / (Expense) Breakdown FY10 FY09 (TL million) Interest income 38.5 25.3 Interest expense (-) (47.2) (36.0) Foreign exchange gain / (loss) (0.3) (10.4) Unrealized FX gain / (loss) - Borrowings (5.1) 1.3 Gain / (loss) on derivative transactions (0.4) (1.2) Financial
Slide 18: Debt Structure
Debt Structure Million FY10 FY09 ∆ USD denominated* 548 593 -8% EURO denominated* 43 66 -35% TL denominated 294 218 35% Other (in TL terms) 10 23 -57% Total Financial Debt in TL 1246 1289 -3% Total Cash & Equivalent in TL 599 585 2% Net Debt in TL 647 704 -8% Net Debt in US$ 418 468 -11% Maturity 20
Slide 19: Financial Leverage and FCF
Financial Leverage and FCF Net Debt/EBITDA Capex/Net Sales FCF (Excluding – acquisitions) (TL million) 110.8 1.91x 1.49x 5.8% 5.4% 73.1 2009 2010 2009 2010 2009 2010 19
Slide 20: Closing Remarks
Closing Remarks Closing Remarks Michael A. O’Neill CEO Michael A. O’Neill CEO
Slide 21: 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