Coca-Cola Icecek A.S. · BIST:CCOLA
Coca-Cola Icecek A.S — Q1 2007 Earnings Presentation
16 slides from Coca-Cola Icecek A.S's earnings presentation, May 30, 2007
Slide 1: Results for the period ending March 31, 2007
Results for the period ending March 31, 2007 May 30th, 2007 İstanbul, Turkey
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: Strong Growth in 1Q2007 (Volume)
Strong Growth in 1Q2007 Turkey Volume International Volume Consolidated Volume (Unit cases in millions) (Unit cases in millions) (Unit cases in millions) 80 4.1% 20 41.4% 90 9.9% 70 80 60 15 70 50 60 10 50 40 40 30 61.6 64.1 30 72.6 79.8 20 5 11.1 15.7 20 10 10 0 0 0 1Q06 1Q07 1Q06 1Q07 1Q06 1Q07
Slide 4: Strong Growth in 1Q2007 (Net Sales)
Strong Growth in 1Q2007 Turkey Net Sales International Net Sales Consolidated Net Sales (CMB - YTL in millions) (CMB – US$ in millions) (CMB - YTL in millions) 270 45 44.9% 340 260 11.5% 40 320 17.2% 35 250 300 30 240 25 280 230 20 260 220 15 29.6 42.9 235.2 262.3 10 240 274.5 321.7 210 220 5 200 0
Slide 5: Strong Growth in 1Q2007 (EBITDA)
Strong Growth in 1Q2007 Turkey EBITDA International EBITDA Consolidated EBITDA (CMB - YTL in millions) (CMB – US$ in millions) (CMB - YTL in millions) 6.3% 5 109.5% 38 31 4 36 18.0% 37.3 4.4 30.6 34 29 3 28.8 2 32 27 2.1 31.6 30 12.2% 11.7% 1 7.1% 10.3% 11.5% 11.6% 25 0 28 1Q06 1Q07 1Q06 1Q07 1Q07 1
Slide 6: 1Q2007 Highlights
1Q2007 Highlights Turkey performing well in a difficult environment Very strong organic growth in Central Asia Middle East making good progress New source water Damla launched in March 2007 Capital Investment program on track
Slide 7: Turkey
Turkey The demand, which experienced a gradual decline in the last quarter of 2006, began recovery in 1Q2007 Additional consumer marketing initiatives in order to drive demand Favorable effect of FX volatility and discount in sugar prices in 1Q contributed to the decrease in cost base Damla was laun
Slide 8: International Operations – Central Asia
International Operations – Central Asia Kazakhstan: Accelerated non-carb initiatives to expand and strengthen position Azerbaijan: Intensive focus on market presence and branding Strengthing position and expanding base; 2L PET BonAqua still water launched in April Kyrgyzstan: Expanded distribution a
Slide 9: International Operations – Middle East
International Operations – Middle East Jordan: Jordan continued to increase distribution efficiencies, savings in distribution costs and accelerated investments in the market 3,400 new coolers already placed and a cooler refurbishment center established Iraq: Erbil central warehouse operational Cool
Slide 10: Financial Review
Financial Review Burak Başarır CFO
Slide 11: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / Turkey International YTL/$ Exchange Rates Functional Currency YTL USD March 31, 2007 1.3801 Reporting Currency YTL USD December 31, 2006 1.4056 Net Sales – Net of discounts and special consumption tax for Turkish operations Inf
Slide 12: Key Financials
Key Financials Financial Period Ending March 31st 2007 2006 ’07 vs. ‘06 (YTL in millions unless otherwise stated) Sales Volume (UC m) 79.8 72.6 9.9% Net Revenue 321.7 274.5 17.2% Gross Profit 118.4 76.2 55.4% Gross Profit Margin 36.8% 27.8% EBITDA 37.3 31.6 18.0% EBITDA Margin 11.6% 11.5% EBIT 14.3
Slide 13: Balance Sheet
Balance Sheet Financial Period Ending Financial Year Ending Financial Period Ending Financial Year Ending Assets March 31, 2007 December 31,2006 Liabilities andEquity March 31, 2007 December 31, 2006 140.8 50.9 208.7 214.1 (YTL in millions unless otherwise stated) Cash & cash equivalents Short-term
Slide 14: 2007 Outlook
2007 Outlook Outlook EBITDA growth in excess of volume growth Management’s Focus Volume growth Revenue growth EBITDA margin CAPEX Capital spending is expected to be approximately 11% of revenues.
Slide 15: Closing Remarks
Closing Remarks
Slide 16: Q&A Session
Q&A Session