Coca-Cola Icecek A.S. · BIST:CCOLA
Coca-Cola Icecek A.S — Q3 2021 Earnings Presentation
21 slides from Coca-Cola Icecek A.S's earnings presentation, Nov 4, 2021
Slide 1: 3Q21 Financial Results
3Q21 Financial Results November 4, 2021 PUBLIC
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: Operational Review
Operational Review Burak Başarır CEO PUBLIC
Slide 4: Operational & Financial Highlights
Operational & Financial Highlights 3Q21 Financial Results Operational Performance Financial Performance Volume # of Transactions IC Share Net Sales Revenue EBITDA Net Income UC # 23% 23% TL TL TL 435 million 3.4 billion 28.5% 6.8 billion 1.6 billion 916 million 3Q21 +11.5% y/y +14.5% y/y +132 bps +3
Slide 5: Robust Performance Despite Cycling a Record High Base of Last Year
Robust Performance Despite Cycling a Record High Base of Last Year 3Q21 Financial Results Volume Transactions Net Sales Revenue EBITDA & EBITDA Margin 23.0% +46.0% +15.9% +19.8% 16,365 24.1% +43.4% y/y Growth 1.109 8.2b +36.6% 3,758 +14.5% +16.6% +11.5% 6,794 mTL mTL 3.4b 1,639 mUC # 435 3Q21 9M21 3
Slide 6: Sound Growth in All Categories with More Balanced Channel Mix
Sound Growth in All Categories with More Balanced Channel Mix 3Q21 Financial Results Category Play Channel Split 8% 14% 12% 7% 3Q21 3Q21 +5% vs 59% 20% previous 81% quarter Still Water Sparkling Modern Retail Discounter On premise Traditional Sparkling Stills Water 3Q21 9.5% 3Q21 27.3% 3Q21 16.2% 9M
Slide 7: Turkey: Robust Growth Momentum in All Categories
Turkey: Robust Growth Momentum in All Categories 3Q21 Financial Results Volume Net Sales Revenue EBITDA (exc. other) 3Q21 +12.7% 9M21 +14.3% Sparkling y/y growth 37,8% 33,6% 3Q21 +21.4% y/y Growth y/y Growth y/y Growth Per UC 14,6% 15,0% Per UC 16.6% 19.8% 9M21 +23.2% 7,7% Stills y/y growth -17,7% 3
Slide 8: International: Resilient Operational and Financial Results
International: Resilient Operational and Financial Results 3Q21 Financial Results Volume Net Sales Revenue EBITDA (exc. other) 3Q21 +7.6% 9M21 +16.9% 38.8%* Sparkling 31.6%* y/y growth 61,4% 21.7%* 52,6% 19.9%* 3Q21 +35.2% 39,5% 38,6% y/y Growth y/y Growth y/y Growth 9M21 +34.6% Per UC Stills 16,6%
Slide 9: Pakistan: Building on Successful Leadership
Pakistan: Building on Successful Leadership 3Q21 Financial Results Volume Transactions +8.0% y/y +4.9% y/y 3Q 27% 9M +19.7% y/y +20.4% y/y Share of Volume in total CCI In line with quality growth algorithm EBITDA NET SALES REVENUE TRANSACTIONS VOLUME Value focus with timely price adjustments Continu
Slide 10: Resilient Performance in International Markets
Resilient Performance in International Markets 3Q21 Financial Results Kazakhstan Iraq 12% 8% Share of Volume in Share of Volume in total CCI total CCI Volume Transactions Volume Transactions 3Q 3Q +21.3% y/y +28.2% y/y -5.0% y/y +2.2% y/y 9M 9M +16.1% y/y +20.0% y/y +0.7% y/y +8.3% y/y • Sparkling i
Slide 11: Integration at Full Pace to Leverage Uzbekistan's Potential at Earliest
Integration at Full Pace to Leverage Uzbekistan’s Potential at Earliest 3Q21 Financial Results CCBU CCI Combined Proforma Incremental Growth Combined Picture 9M21 9M21 9M21 Effect Volume (m u/c) 78 1,109 1,188 7.1% Net Sales Revenue (m TL) 1,363 16,365 17,728 8.3% EBITDA (m TL) 195 3,758 3,954 5.2%
Slide 12: Financial Review
Financial Review Andriy Avramenko CFO PUBLIC
Slide 13: Summary Financials: Navigating Challenges with Sustainable Profitability
Summary Financials: Navigating Challenges with Sustainable Profitability 3Q21 Financial Results Consolidated (TL mn) 3Q21 Change % 9M21 Change % Net Sales Revenue 6,794 36.6% 16,365 46.0% Gross Profit 2,428 28.3% 5,784 46.9% EBIT 1,354 16.9% 2,914 53.9% EBITDA 1,639 16.6% 3,758 43.4% Profit Before T
Slide 14: On Path to Deliver Quality Growth on FY Basis
On Path to Deliver Quality Growth on FY Basis 3Q21 Financial Results Net Sales Revenue per UC COGS per UC EBITDA per UC y/y Growth +13.6% +15.7% 14,5 +18.2% +15.3% 13,5 9,3 8,8 -4.9% +11.9% TL TL TL 3,4 3,1 3Q21 9M21 3Q21 9M21 3Q21 9M21 Consolidated (TL), FX-Neutral 14 PUBLIC
Slide 15: Robust Operational Profitability & Tight Balance Sheet Management Leading to Sound FCF Generation
Robust Operational Profitability & Tight Balance Sheet Management Leading to 3Q21 Financial Results Sound FCF Generation EBITDA Development FCF Development 1.848 -828 mTL mTL -118 3,758 795 -374 270 -89 -21 2,499 2.620 1.918 9M20 EBITDA GP OPEX Non cash items 9M21 EBITDA 9M20 FCF CFO CapEx NWC Net I
Slide 16: Strong Liquidity – Prudent FX Risk Management
Strong Liquidity – Prudent FX Risk Management 3Q21 Financial Results Cash Profile Gross Debt Profile(*) Debt Maturity Profile(*) 5% 2% 12% 38% 17% TRY 4.6b TRY 6.1b TRY 6.1b 50% 10% 68% 22% 64% 12% USD TRY OTHER USD EUR TRY OTHER 2021 2022 2023 2024 (*) USD150m of this amount is hedged (*) Numbers i
Slide 17: Proactive Hedging In Place In the Adverse Commodity Environment
Proactive Hedging In Place In the Adverse Commodity Environment 3Q21 Financial Results Balanced cost base Active Risk Policy Sugar 2021 2022 20% Overhead 100% 36% Commodity Hedges Cost Of Sales 20% Sugar Aluminium 92% 80% 30% Packaging Resin 30% Concentrate 100% 42% 17 PUBLIC
Slide 18: Closing Remarks & Guidance
Closing Remarks & Guidance Burak Başarır CEO PUBLIC
Slide 19: Leveraging on CCI's Core Strengths to Overcome Challenges Ahead
Leveraging on CCI’s Core Strengths to Overcome Challenges Ahead 3Q21 Financial Results PREVIOUS GUIDANCE REVISED GUIDANCE INCLUDING CCBU in 4Q SALES VOLUME High Single Digit Growth Low to Mid-Teens Growth NET SALES REVENUE Low to Mid Twenties Growth High Twenties to Low Thirties Growth (*) Consolida
Slide 20: Q&A
Q&A PUBLIC
Slide 21: THANK YOU
THANK YOU PUBLIC