Coca-Cola Icecek A.S. · BIST:CCOLA
Coca-Cola Icecek A.S — Q2 2010 Earnings Presentation
18 slides from Coca-Cola Icecek A.S's earnings presentation, Aug 24, 2010
Slide 1: 2Q10 Results
2Q10 Results August 24, 2010 Istanbul Michael A. O’Neill – CEO N. Orhun Köstem – 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: 2Q10 Review
2Q10 Review Delivered 190 million unit cases of sales volume, up by 10.7% Continued to grow top-line in all of our key markets Demand growth in the second quarter suggesting an improved sentiment in markets CCI’s second CSR report published
Slide 4: Turkey
Turkey All main categories contributed to Turkey growth The growth of sparkling beverages accelerated in the second quarter Growing demand, sales promotions and marketing activities gave boost to sales volume
Slide 5: Product Introductions in 2Q10 - Turkey
Product Introductions in 2Q10 - Turkey Nestea Mango - Doğadan RTD Pineapple
Slide 6: International Operations
International Operations International Operations’ share in total sales volume reached 28% in the second quarter Pakistan’s quarter volume growth at high teens Kazakhstan and Azerbaijan reached an all time high sales volume in June 2010
Slide 7: Product Introductions in 2Q10 - International
Product Introductions in 2Q10 - International Piko Tempo PET 500ml Fanta Dushes and Fanta multi-fruit & apple-peach Fanta Dushes Nestea PET 500ml Buratino - Kazakhstan - Kazakhstan - Azerbaijan - Azerbaijan Cappy Sourcherry, Peach, Multifruit and Fruktime PET 1L Pear, Cappy Pulpy Orange 100% Orange
Slide 8: Volume up by 9.9% in 1H10
Volume up by 9.9% in 1H10 Turkey Volume Turkey Volume International Volume Consolidated Volume (Unit cases in millions) (Unit cases in millions) (Unit cases in millions) 302.9 225.2 275.6 204.3 77.7 71.3 1H09 1H10 1H09 1H10 1H09 1H10 Consolidated up by 10.7% to 190.4 million 2Q10 Turkey up by 9.9% t
Slide 9: Net sales up by 6.1% in 1H10
Net sales up by 6.1% in 1H10 Turkey Net Turkey Net Sales Sales International Net Sales Consolidated Net Sales (TL in millions) (US$ in millions) (TL in millions) 1Q08 1,256.2 970.0 1,184.3 910.6 189.3 171.0 1H09 1H10 1H09 1H10 1H09 1H10 Consolidated up by 8.9% to 811.4 million 2Q10 Turkey up by 7.9%
Slide 10: EBITDA down by 0.7% in 1H10
EBITDA down by 0.7% in 1H10 Turkey Net Turkey Sales EBITDA International EBITDA Consolidated EBITDA (TL in millions) (US$ in millions) (TL in millions) 204.4 169.8 202.9 29.3 158.0 21.0 18.6% 16.3% 12.3% 15.5% 17.3% 16.2% 1H09 1H10 1H09 1H10 1H09 1H10 Consolidated down by 4.8% to 149.6 million 2Q10
Slide 11: Recent Developments
Recent Developments CCI’s Corporate Governance Rating increased to 8.43 CCI and our Labor Union finalized the collective labor agreement
Slide 12: Financial Review
Financial Review N. Orhun Köstem CFO
Slide 13: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / TL/$ International* TL/$ Turkey Period- Average End Functional TL USD June 30, June 30, Currency 2010 1,5747 2010 1,5163 Reporting December June 30, TL USD Currency 31, 2009 1,5057 2009 1,6056 ∆ 4.6% ∆ (5.6%) Net Sales – Net
Slide 14: Key Financials – Consolidated
Key Financials – Consolidated (TL million) 1H10 1H09 Change % 2Q10 2Q09 Change % Volume (m/uc) 302.9 275.6 9.9% 190.4 172.0 10.7% Net Sales 1,256.2 1,184.3 6.1% 811.4 745.0 8.9% Gross Profit 470.1 445.6 5.5% 316.0 297.2 6.3% EBIT 126.1 143.1 (11.9%) 112.0 126.2 (11.2%) EBITDA 202.9 204.4 (0.7%) 149.
Slide 15: Financial Expenses
Financial Expenses Financial Income / (Expense) Breakdown 1H10 1H09 (TL million) Interest income 20.2 9.4 Interest expense (-) (24.0) (17.6) Foreign exchange gain / (loss) (0.8) (6.2) Realized FX gain / (loss) - Borrowings (0.7) - Unrealized FX gain / (loss) - Borrowings (12.9) (7.5) Gain / (loss) o
Slide 16: Debt Structure
Debt Structure Million 1H10 FY09 ∆ USD denominated* 582 593 -11 EURO denominated* 43 66 -23 TL denominated 202 217 -15 Other (in TL terms) 41 34 5 Total Financial Debt in TL 1.245 1.289 -44 Total Cash & Equivalent in TL 354 585 -231 Net Debt in TL 890 704 186 Net Debt in US$ 565 468 97 Maturity Date
Slide 17: Closing Remarks
Closing Remarks Michael A. O’Neill CEO
Slide 18: 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