C&c Group Plc · LSE:CCR
C&c — Irish Equity Market Conference 2010
29 slides from C&c's conference presentation, January 2010
Slide 1: C&C Group plc
oe Prk cac group ple As. C&C Group plc January, 2010 G AYMER CIDER COMPANY
Slide 2: ! " " # $ # % # $ $ & ! " !
! " " # $ # % # $ $ & ! " ! ! ! " $ $ " ' $ ! " ( " " ) " * " " " " + ! ) $ ! $ , !
Slide 3: Presentation Agenda
Presentation Agenda Business Overview Acquisition of ABI assets: Tennent’s Acquisition of Constellation assets: Gaymer Cider Co. Conclusion and Q&A ; | ah { ay pe rs Est.L770 ET at [2 | 1PAPS caymer fees 4CIDER COMPANY Slide 3
Slide 4: ! " " # # $ ! " " % ! & ' #
! " " # # $ ! " " % ! & ' # (" ")* % +* & # , - # . !*( / %& 0 . 12 % 345 "-) $6 # 1 /7 " *82 +! ' , % # 7 " "9& 9 : ! % ! %
Slide 5: . % ; ! ! " # % + ! "-88 -3 , !
9 9 . % ; ! ! " # % + ! "-88 -3 , ! ! %< 9 => # " % < : ' "7 ? # ! @ "7 ? ! ( # # " 54 ;A ! ! "7 ? # # /< ) )
Slide 6: C D ! # +D /, E
9 " CD ! # "/ +D /, ! " # $ %& ' E ( E ( E ( E (BE ()E (BE (3E (8E (3E (3E (5E (5E ( E ( E ( E ( E ( E ( E ( E ( E ( E ( E ( E ( E ( E ( E ( E ( E 19 3 6 5 ;1 5 < D 5 D 5 < A 5 =6 5 =0 5 =: 5 1 5 97 5 7 70 11D 9/ 1D = 0< 1D : = /6 6 1 F 1/6 1>16 B
Slide 7: " C: +: , ( ! )" # * 0/ 0/ , , ,
9 " C: +: , ( ! )" # * 00 0/ 0/ 1 1 1 2 2 3 3 , 3 , 3 , , , , 3 , + + , , + + -. -+ -1 -0/ -00 -0. -0, -02 -03 -./ -./ -01 -./ * -/2 -/2 4 -/2 5 -/2 6 -/1 7 8-/1 " -/1 -/1 " -/1 6 -/1 6 -/1 )-/1 * -/1 " ) 9 : 8
Slide 8: (6 " # # % " ) B % % ! G8B - -
(6 9 " # # % " ) B 8 3 5 % % ! G8B - - 5 3 % G88 G83 < G85 2 34 ' ' G3 G3 # G3 G3 # $ G3 ( $ ;< G3) % G3B G38 "9& 9 : - # G33 = G35 G5 " G5 % ./01!! ! G5 : G5 G5 G5) G5B G58 G53 G55 G G G G G G) GB G8 G3 + G5 3
Slide 9: 9& " ( : % ( " % H 9& ; #4< ( #
9& 9 " 0 ( : % ( 7 " % 6 3 6 H 9& 9 ; #4< 5 ( # # % ; #4< 5 D ( ! ! < 5 0 % " < 5 I% D " 7 ! # / 5 ' "/ % 6 % / % % " /+7 ?, 6 5 J < % %< (9 6 5 ' "7% : 9 9 ! 5
Slide 10: cac group ple “ a
cac group ple “ a wae Est.E770 GAYMER cac group ple “st CIDER COMPANY Slide 10
Slide 11: 7 "K 3 +- ) ,( K ) ! ! K 8 " !
7 ( 5 9& 9 ' % / % %# " / + /, – % ! "7 ? # & I ! . – # " .? % ! /# – # # . " *K 8 7 "K 3 +- ) ,( K ) ! ! K 8 " ! # K ; " 2 # ." % / ! " # D 2 9& 9? % " ! % " " " ! '
Slide 12: $ )$ I ! .# # # . * ? % # ( (
7 $ 8 )$ I ! .# # # . * 7 ? % # 6 ( 2 ( # % # # . 4 $ . 6 ( ( ""( ! 8 ( ( ""( # % > .//2 ? 5 @.0 2
Slide 13: D % . – D . " ! < # ! – # %
7 D % . 4 – D . " ! < # ! – 1 # % . +% % # ., 6 % / " : – 12 " ! D ! # "/ 1 % 2 ! ! " ! % % %! " # * )$ % / – L 0 ! % # ! ! = – L 0 ! 6 % / $ ! . ! – L 0 ! D ! # "/ $! ! ! " ""( * ) / " # # ;A – 9 "K) – D "K) =
Slide 14: " /7 : " 9& # ! / @0/ / @A0 % . @.A
" 1 /7 : " 9& 9 # ! / @0/ / @A0 2 % . @.A 1 @.0 2 @%. 0' < # " D K # ;A 6 D " D 3 1 /7 ! " 1 /7 1 /7
Slide 15: cac group ple “ a
cac group ple “ a wae Est.E770 GAYMER cac group ple “st CIDER COMPANY Slide 15
Slide 16: "K ) "KB K
7 (6 # 5 ! % "7% : 9 9 ! # % " & !! " % => " 9 – D "= > # @ .% 1 % : % # & 0# ! $ – 9 ! " % ! < 1 $ – # % 1 * 9 % "K ) + *-) , / " K " # " ; # # ." "KB ( ! ' / ( 2 9& 9? % " ! 7 ! # = > "" "; 7 +M ;7N,# #H # % ;7 B
Slide 17: ? F0 ! " % ! < I % & # " * B
7 7 ? F0 ! " % ! < 1 I % & # " * B ) ;< = % ! < 1 6 I % & # " 1 * ) 1 ! 7C .//2D/1 ? 5 @+ E F ?G )? 5 ) $ 7C .//1D0/ F4 1 /7 " % % " % % "9 8
Slide 18: D ( " " & : % ) 9& 9? ! ! % %
7 D ( " " & : % ) 9 9& 9? ! ! % % => . 2 "" % " # 1 % . " < % => / % % ""( / % : !? ( %! ! 3
Slide 19: " /7 ;A /7 "K)* O
" 1 /7 345 ;A 1 /7 "K)* O @A / @00 / F @2 / F 54 ;A " 1 /7 " * K3 O @+ E F D K # ;A 4 .//2D1 .//1D0/ * ) * ) ? 5 ? 5 = -7 ? 5 F4 1 /7 " % % " % % "9 5
Slide 20: C ; " )E " % " KB
7 C; & 6 # "- 3 ! ' • = !" "- 8 " 7 ? " "- " " % ! ( ' - # ." • 6 # " *- ) " 7 ? ' • 12! 2 " )E " % ' # • 6 # ." "KB + *-B8 , . ( # = .+ , 6 # % 0 . : ! • 0 ! ( ;A 6 # 41 /7 2! # % P " # % ' • 12! 2 " 3E " % ' # 0 2! ! (7 ? ' +* ,# ;A 9 ! % ' ! % (% ! # 2
Slide 21: cac group ple “ i.
cac group ple “ i. wae Est.E770 GAYMER cac group ple “st CIDER COMPANY Slide 21
Slide 22: / ' . ! " " . *$ - . % ! A /
/ 5 0 6 7 ' . ! " " . *$ - . % 7 ! A / ! 9 D # ( ! E 6 D 7 < . % ! !! % 2 . " - + < 2 % " % ! " , / < . ! # !
Slide 23: 9& " ( : % ( " % )$ $ I ! .# *
9& 9 " 0 ( : % ( 7 " % 8 )$ $ I ! .# * # # . 7 ? % 6 ( 2 ( # # % # # . 4 $ . 6 ( ( ""( ! 8 ( ( ""( # % ? ) % ! < ; % ! H ' # ;
Slide 24: C " " & : % % => # = . ! " "
C " " & : % 0 % => # = . ! " " & # # A / ! " # ! E 1 % . + 12 2!
Slide 25: cac group ple “
cac group ple “ wae Est.E770 GAYMER cac group ple “st CIDER COMPANY Slide 25
Slide 26: Risk Factors
Risk Factors e Transaction risk Integration risk e = Cider duty risk Exchange rate risk Deteriorating business conditions in core markets GAYMER cac group ple “28%. BULMERS CIDER COMPANY Slide 26
Slide 27: F C / D
F C/ 9 0 ./0/ 9 0 .//1 $ ) I I D )8*) 38*8 + *)E , ! * * +5*BE , ! ! " # " 2 ! )8* BB* + *BE , 6 " % +*, +B* , + 3* E , 7 2 +)*8, +B* , + *5E , 5 $ .6 78 .6 18 ! ( + *), 6< 6 ! " # " 2 ! 3* ) * +3*5E , H # 1 )* 8* + *E, ) % 5(- .7 9 .1 / .6 .8 C&C FY Results | Slide 8 27
Slide 28: I #O < % B*
F C % ( 7 ? : ' 9 0 ./0/ I 6 #O < % 5 B* : ; 5<= ; ) . /$ ; %" ! +) * , % + *8, 6 #O 5 8 * : ; 5<= ; ) . 0$ " < % 5 )*) " 5 * >5$ 3
Slide 29: ) A > : 30> $ = J >= : = :> 0. (A+A
) A 7 > : 30> $ = J >= : = :> 5 8 0. (A+A 0 ,0, 00//