Coca-cola Icecek A.s. · BIST:CCOLA
Coca-cola Icecek A.s — FY2007 Earnings Presentation
19 slides from Coca-cola Icecek A.s's earnings presentation, Mar 31, 2008
Slide 1: Results for the year ending December 31, 2007
Results for the year ending December 31, 2007 March 31st 2008, İstanbul Michael A. O‟Neill CEO
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: CCI Fact Sheet
CCI Fact Sheet 2003 2004 2005 2006 2007 Acquisition Entry into Iraq Syria of Efes & Mahmudiye acquisition Invest acquisition Countries with CCI Operations 1 1 7 8 9 Population Served (mn) 71 71 106 140 170 Number of Operating Plants 5 5 11 12 12 Employees 1,619 1,676 3,909 4,178 4,882 3
Slide 4: Strong Financial Track Record: Sales Volume
Strong Financial Track Record Sales Volume CAGR (m u/c ) 480 18% 424 377 98 37% 80 315 65 250 40 28 382 15% 344 312 275 222 2003 2004 2005 2006 2007 Turkey International Operations *The consolidated CCI figures for the period ended December 31, 2005, represents the stand-alone Turkish results plus r
Slide 5: Strong Financial Track Record: Sales Revenues
Strong Financial Track Record Sales Revenues CAGR (TRYm) 1,926 19% 1,667 329 42% 1,378 290 1,154 213 965 121 82 1,600 16% 1,392 1,165 1,032 884 2003 2004 2005 2006 2007 Turkey International Operations *The consolidated CCI figures for the period ended December 31, 2005, represents the stand-alone Tu
Slide 6: Strong Financial Track Record: EBITDA
Strong Financial Track Record EBITDA CAGR (TRYm) 340 22% 56 41% 266 215 46 31 168 153 14 26 284 20% 220 183 139 142 2003 2004 2005 2006 2007 Turkey International Operations *The consolidated CCI figures for the period ended December 31, 2005, represents the stand-alone Turkish results plus results o
Slide 7: Category & Brand Leadership: CSD
Category & Brand Leadership World-leading Brand Portfolio CSD Turkey(1) Kazakhstan(2) Azerbaijan(3) Kyrgyzstan(4) Jordan(1) Iraq Syria Share 66.3% 46.4% 51.6% 70.0% 11.4% Position #1 #1 #1 #1 #2 Source:AC Nielsen (1) December 2007 year-to-date data (2) November 2007 city-based data (3) November 2007
Slide 8: Category & Brand Leadership: NCB
Category & Brand Leadership World-leading Brand Portfolio NCB Turkey(1) Kazakhstan(2) Azerbaijan(3) Kyrgyzstan(4) Jordan(1) Fruit Juices & Nectars #1 26.5% 9.1% #4 Bottled Water 7.3% #3 4.2% #8 44.0% #1 Other NCBs: Sports Drinks 93.3% #1 Energy Drinks 30.4% #2 Iced Tea #2 21.2% Source:AC Nielsen (1)
Slide 9: Turkey - 2007
Turkey - 2007 CSD category growth picked up in 2Q and maintained its strong growth trend Effective marketing initiatives on 11 national promotion campaigns helped to drive growth 9 new production lines installed and 39,000 new coolers were placed 38 new Stock Keeping Unit’s (“SKU”) were introduced,
Slide 10: International Operations - 2007
International Operations - 2007 Healthy volume growth in all international markets and in all categories In spite of economic slowdown and some capacity constraints in the 2nd half of the year Kazakhstan sales still posted double digit volume growth Despite an inflationary economic environment, Azer
Slide 11: Recent Developments
Recent Developments Commenced discussions with TCCC to acquire a 50% equity stake in Doğadan Commenced discussions with TCCC on options to acquire a stake in Coca-Cola Beverages Pakistan Utilization of USD 190 million loan with three year maturity 11
Slide 12: 2008 – Outlook
2008 – Outlook Turkish operations will continue to grow CSDs ahead of GDP and strengthen position in NCBs Central Asia operations will continue to grow double digit CCI is focused on driving availability, building infrastructure and capabilities in the Middle East Coca-Cola Zero launch in Turkey 12
Slide 13: Financial Review
Financial Review Burak Başarır CFO
Slide 14: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / YTL/$ International Turkey Exchange Rates Functional Currency YTL USD December 31, 2007 1.1647 Reporting Currency YTL USD December 31, 2006 1.4056 Year-to- Year-on- Net Sales – Net of discounts and special consumption Inflation
Slide 15: Key Financials
Key Financials (TRYm) FY 2007 FY 2006 „07 vs. „06 Volume (m u/c) 480.3 423.9 +13.3% Net Sales 1,926 1,667 +15.5% Gross Profit 784 525 +49.3% Gross Profit % 40.7% 31.5% EBIT 242 177 +37.3% EBIT % 12.6% 10.6% EBITDA 340 266 +27.9% EBITDA % 17.7% 16.0% Net Income 154 87 +77.3%
Slide 16: Key Financials
Key Financials FY 2007 FY 2006 „07 vs. ‟06 Net Debt (TRYm) 360 322 Total Debt/Total Equity 56% 45% +11 p.p. Net Debt / Total Equity 40% 38% +2 p.p. Net Debt / EBITDA (x) 1.06 1.21 -0.15 EBIT / Interest Expense (x) 5.8 5.5 +0.3 Net Working Capital / Sales 9.9% 10.6% -0.7 p.p Return on Equity 17.5% 11
Slide 17: 2008 Guidance
2008 Guidance We maintain our guidance: • Turkey Volume – High Single Digit to Low Double Digit • International Volume – High Teens to Low Twenties • Revenue Growth exceeding Volume Growth • EBITDA Growth exceeding Revenue Growth We continue to invest on growing production capacity, expanding our co
Slide 18: Closing Remarks
= Closing Remarks = = —]
Slide 19: Thank You
Q&A Session Thank You For further information on Coca-Cola İçecek please visit our website at: www.cci.com.tr or contact our Investor Relations Department [email protected]