Anheuser-Busch InBev SA/NV · EURONEXT:ABI
Anheuser-Busch InBev SA/NV — Interbrew — Shareholder Meeting (April 2004)
18 slides from Anheuser-Busch InBev SA/NV's shareholder meeting presentation, Apr 27, 2004
Slide 1: Interbrew Year Results 2003
Interbrew Year Results 2003 Organic Growth: More Than Triple the Industry Average General Shareholders’ Meeting 27 April 2004
Slide 2: Pierre Jean Everaert, Chairman
Pierre Jean Everaert Chairman “In 2003, Stella Artois® and Beck’s® grew by +7.3%”
Slide 3: 2003 Financial Highlights
2003 Financial Highlights ¾Significant organic growth ¾Strong free cash flow generation ¾Considerable translation impact of stronger euro ¾Proposed dividend: 0.36 euro per share
Slide 4: 2003 Operational Highlights
2003 Operational Highlights Year of focus on the main drivers of growth ¾ Profitable market-share growth ¾ Growth of international brands ¾ Targeted acquisitions ¾ New vision
Slide 5: John F. Brock, Chief Executive Officer
John F. Brock Chief Executive Officer “EBITDA performance was supported by improved operations and cost management—areas of increased focus in 2003”
Slide 6: Financial Highlights
Financial Highlights Organic 2003 2002(1) ∆% Growth EBITDA € 1,498 € 1,486 +0.8% +7.2% EBIT € 839 € 836 +0.4% +11.1% Free Cash Flow € 556 € 535 +3.9% EPS(2) € 1.45 € 1.33 +9.0% Dividend per share € 0.36 € 0.33 +9.1% (1) Pre-restructuring charge of € 92 million on EBITDA and € 108 million on EBIT (2)
Slide 7: Diversified Geographic Reach
Diversified Geographic Reach 2003: Invested Capital €m 2003: % of EBITDA 15 960 Western Europe Central & Central & Eastern Eastern Europe 3,833 46 Americas 664 Asia 10 Europe Pacific Asia Western Western Holding Cies & Pacific Europe 109 Europe 3 Global Export Americas Americas Asia Pacific Cent. &
Slide 8: EPS Breakdown
EPS Breakdown 2,00 1,80 +0,22 -0,16 -0,06 1,60 1.51 -0,05 -0,01 1,45 1,40 1,20 1,00 0,80 0,60 0,40 0,20 0,00 December EBIT* Currency Income from Minority Net December 2002 associates* interests financing 2003 costs & taxes (*) Excluding currency impact (which is reflected in currency) (**) Restructu
Slide 9: Interbrew Strategy
eS nterbrew Interbrew Strategy
Slide 10: Four-Pillar Strategy
Four-Pillar Strategy Winning Winning at World Targeted Brand “Point of Class External Portfolio Connection” Efficiency Growth Differentiation through Innovation
Slide 11: China provinces and population
Shandong 91 million inhabitants Jiangsu 74 million inhabitants Hubei 67 million inhabitants Zhejiang 47 million inhabitants Hunan 90 million inhabitants Guangdong 78 million inhabitants 11
Slide 12: Leading positions & growth prospects in Southeast Europe
Leading positions & growth prospects in Southeast Europe Southeast Europe (2002): Population: 23.1m Total Beer Market: 13.5m hl Interbrew Market Share: 34 % Zagre b Zagrebacka Pivara Apatinska Serbia and Pivara Montenegro Croatia Population: 10.7m Population: 4.4m Total Beer Mkt: 5.7m Total Beer Mkt
Slide 13: Caspian region
+ CASPIAN, NJ \ SEA
Slide 14: InterbrewAmBev: The World's Premier Brewer
InterbrewAmBev The World’s Premier Brewer ¾ Number one by volume: should sell 190m HL of beer and 25m HL of soft drinks annually ¾ A truly global brewer: leading positions in the Americas, Europe and Asia ¾ Combination to focus on global flagship brands: Beck’s, Brahma and Stella Artois
Slide 15: Interbrew and AmBev Existing Geographic Reach
Interbrew and AmBev Existing Geographic Reach Interbrew: Operations and license agreements AmBev: Operations and license agreements
Slide 16: InterbrewAmBev: The World's Premier Brewer
InterbrewAmBev The World’s Premier Brewer Interbrew AmBev
Slide 17: Operational Targets
Operational Targets ON AVERAGE for the next 5 years: ¾ Volume growth: +4 to +5 % ¾ Mix improvement: +1% net turnover per year ¾ Productivity gains: +1% to +1.5% of total operating costs, per year
Slide 18: Looking Forward
Looking Forward 2003 ¾Strong organic growth ¾Growing brands and share Confident outlook ¾Good volume growth in the first quarter 2004 ¾Delivering continued organic and profitability growth vis-à-vis our people, brands and vision