Coca-cola Icecek A.s. · BIST:CCOLA
Coca-cola Icecek A.s — Q1 2009 Earnings Presentation
19 slides from Coca-cola Icecek A.s's earnings presentation, May 14, 2009
Slide 1: 1Q09 Results
1Q09 Results May 14, 2009 Istanbul Building & Sustaining a Growth Company Michael A. O’Neill – CEO Burak Başarır – 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: 1Q09 Review
1Q09 Review Top-line growth maintained Economic volatility still affecting bottom-line Continuous focus on in-market execution and consumer p p proposition p drive the g helped growth Pakistan still adding further momentum to our business Turkey benefiting from Doğadan non ready to drink tea
Slide 4: Volume up by 13.4% in 1Q09
Volume up by 13.4% in 1Q09 Turkey Turkey Volume Volume International Volume Consolidated Volume (Unit cases in millions) (Unit cases in millions) (Unit cases in millions) 103.6 78.9 78 9 91 4 91.4 74.4 24.7 17.0 1Q08 1Q09 1Q08 1Q09 1Q08 1Q09
Slide 5: Net sales up by 12.2% in 1Q09
Net sales up by 12.2% in 1Q09 Turkey Net Turkey Net Sales Sales International Net Sales Consolidated Net Sales (CMB - TL in millions) (CMB – US$ in millions) (CMB - TL in millions) Turkey Volume 1Q08 439.3 340.0 340 0 391 4 391.4 334.4 60.6 48.4 1Q08 1Q09 1Q08 1Q09 1Q08 1Q09
Slide 6: EBITDA down by 17.1% in 1Q09
EBITDA down by 17.1% in 1Q09 Turkey EBITDA Turkey EBITDA International EBITDA Consolidated EBITDA (CMB - TL in millions) (CMB – US$ in millions) (CMB - TL in millions) Turkey Volume 56.9 47.2 51.3 44 4.5 1Q08 1.5 15.3% 12.9% 9.4% 2.5% 14.5% 10.7% 1Q08 1Q09 1Q08 1Q09 1Q08 1Q09
Slide 7: Turkey
Turkey Macroeconomic indicators refer to a double double-digit digit GDP contraction Weak consumer spending affecting sparkling category Still beverages and tea sales contributed to top line top-line growth Elazığ plant became fully operational in 1Q09 Sale and p purchase agreement g signed g with S
Slide 8: Product Innovations in Turkey
Product Innovations in Turkey PET 330 ml package with ith sports t closure l New CAPPY 100% Range Extention: 100% AApple-Peach l P h 100% Apple-Sour cherry 100% Multifruit
Slide 9: International Operations
International Operations Central Asia region continued to lag behind expectations due to ongoing economic slowdown Middle East performed well in 1Q09 Pakistan in line with our mid-term guidance Our stake in Turkmenistan increased to 59.5%
Slide 10: Product Innovations in International Operations
Product Innovations in International Operations Nestea PET 500 ml in Kazakhstan & Kyrgyzstan CAPPY Citrus Mix in Azerbaijan Coke Zero in Syria Coca-Cola PET 2L in Kyrgyzstan
Slide 11: Financial Review
Financial Review Burak Başarır CFO
Slide 12: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / TL/$ Year- TL/$ International International* Turkey T k End Average Functional TL USD March 31, March 31, Currency 2009 1,6880 2009 1,6478 Reporting epo t g December March 31 31, TL USD Currency 31, 2008 1,5123 2008 1,1966 ∆ 12
Slide 13: Key Financials – Consolidated
Key Financials – Consolidated (TL million) 1Q09 1Q08 Change % Volume (m/c) 103.6 91.4 +13.4% Net Sales 439.3 391.4 +12.2% Gross Profit 148.4 160.8 (7.7%) EBIT 11 5 11.5 29 3 29.3 (60 9%) (60.9%) EBITDA 47.2 56.9 (17.1%) Net Income/ (Loss) (58.8) (18.3) 220.6% Unrealized U li d non-cash h F/X loss l
Slide 14: Key Financials – Consolidated
Key Financials – Consolidated (TL million) 1Q09 1Q08 Change % Volume (m/c) 103.6 91.4 +13.4% Net Sales 439.3 391.4 +12.2% Gross Profit 148.4 160.8 (7.7%) EBIT 11 5 11.5 29 3 29.3 (60 9%) (60.9%) EBITDA 47.2 56.9 (17.1%) Net Income/ (Loss) (58.8) (18.3) 220.6% Unrealized U li d non-cash h F/X loss l
Slide 15: Financial Expenses
Financial Expenses Financial Income / (Expense) Breakdown 1Q09 1Q08 Interest income 5.6 2.7 Interest expense (-) (9.0) (9.8) Foreign exchange gain / (loss) 7.4 3.3 Realized FX gain / (loss) - Borrowings 0.04 0.6 Unrealized FX gain / (loss) - Borrowings (75.4) (43.9) Gain / (loss) on derivative trans
Slide 16: Key Financials
Key Financials (TRY million) March 31, December 31, March 31, December 31, Liabilities & Equity Assets 2009 2008 2009 2008 Cash & cash Short-term debt 211.9 254.3 581.5 142.2 equivalents i l t Accounts rec.& due Accounts payable & due to 249.3 202.8 148.3 157.3 from related parties related parties P
Slide 17: Debt Structure
Debt Structure Million 1Q09 FY08 ∆ USD denominated* 572 569 3 EURO denominated* 69 94 -25 TL denominated 21 2 19 Other (in TL terms) 41 24 17 Total Financial Debt in TL 1.176 1.029 147 Total Cash & Equivalent in TL 212 254 -42 Net Debt in TL 964 775 189 Net Debt in US$ $ 571 512 59 Maturity Date 200
Slide 18: Closing Remarks
Closing Remarks Michael A. O’Neill CEO
Slide 19: 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