Grupo Nutresa S.A. · BVC:NUTRESA
Grupo Nutresa — Q4 2014 Earnings Presentation
20 slides from Grupo Nutresa's earnings presentation, Feb 23, 2015
Slide 1: Grupo Nutresa at a Glance: Fourth quarter 2014 results
GRUPO NUTRESA S. A. (BVC:NUTRESA) NUTRESA Fourth at2014 quarter a Glance results February 23rd, 2015
Slide 2: Highlights 4Q 2014
Highlights 4Q 2014 OWN BRANDS- 93% OF SALES GRUPO EL CORRAL ACQUISITION: Final price: $743.401 mm Financing: Bank loans: $685.000 mm Cash: $58.401 MAIN PRO-FORMA FIGURES 2014: Combined sales: $407.600 mm Ebitda: $73.500 mm Margin: 18% GLOBAL BRANDS - 7% OF SALES Stores (Colombia): 345 Stores (
Slide 3: Sustainability
Sustainability Wh MEMBER OF Dow Jones Sustainability Indices In Collaboration with RabecoSAM «@® ROBECOSAM ( Sustainability Award Silver Class 2015 Ce ROBECOSAM Sustainability Award Industry Mover 2015 dA
Slide 4: Grupo Nutresa Pro-forma 2014
Grupo Nutresa Pro-forma 2014 Sales by EBITDA by International sales by business unit business unit business unit Pasta Pasta Retail food Cold cuts Ice cream 3% Ice cream 3% 5% 10% 7% 6% Cold cuts Cold cuts Retail food Retail food 25% 23% 8% 10% $938 TMLUC USD1.115 TMLUC 11% $ 6.869 TMLUC 10% $864* 3
Slide 5: Accumulated sales - Colombia and International
Accumulated sales - Colombia and International Sales per +11,1% Colombia sales COP $4.204,1 +8,6% Q: +7,1 business unit 1.600 1.466,3 P: +1,4 1.400 1.200 Billion pesos +8,8% +7,9% 4Q 2014 1.000 705,5 729,8 -1,2% 800 +11,0% 600 504,9 +3,2% 422,0 400 % chg. YoY 238,2 Billion pesos 200 0 Cold cuts Bisc
Slide 6: Accumulated sales - Total
Accumulated sales - Total Total sales Sales per COP $5.898,5 +9,5% business unit 1.800 -11,3% 1.693,9 1.600 +9,3% 1.400 +9,3% 1.247,7 4Q 2014 Billion pesos 1.200 1.074,3 1.000 -1,7% 775,7 756,5 800 +10,7% 600 537,4 +3,2% 400 238,2 200 0 Cold cuts Biscuits Chocolates Coffee Ice cream Pasta TMLUC % ch
Slide 7: 4Q sales - Colombia and International
4Q sales - Colombia and International Colombia sales Sales per +11,2% COP $1.145,3 +7,8% Q: +6,3 business unit 450 P: +1,4 422,7 400 350 Billion Pesos 300 +5,3% +8,3% 4Q 2014 250 198,2 200 190,9 -0,2% 131,1 +7,7% 150 103,7 +4,7% 100 % chg. YoY 61,4 Billion pesos 50 0 Cold cuts Biscuits Chocolates Co
Slide 8: 4Q sales - Total
4Q sales - Total Total sales Sales per COP $1.815,6 +1,0% business unit 600 -12,9% 520,6 500 +10,2% 4Q 2014 Billion Pesos 400 354,2 +11,6% 304,9 300 +9,5% -4,1% 211,8 +9,9% 189,6 200 135,6 +4,7% 100 61,4 0 Cold cuts Biscuits Chocolates Coffee Ice Cream Pasta TMLUC % chg. YoY Billion pesos Sales grow
Slide 9: Sales by region – 4Q 14
Sales by region – 4Q 14 34.9% International sales 2.10Other countries 7.0% USA 3.7% Mexico 1.4% Dominican Rep. & Caribbean 7.4% Central America 2.5% Venezuela 65.1% Colombia 1.1% Ecuador 2.0% Peru Production & distribution Distribution 7.9% Chile 9
Slide 10: Market share Colombia + TMLUC
Market share Colombia + TMLUC Market share Colombia: 60.6% (+0,6%) Cold cuts Biscuits Chocolates Coffee Ice cream Pasta TMLUC Chocolate Roast and ground ICB* 73,3% 55,1% confectionary coffee (A) ICE CREAM 52,3% 63,2% (A)/-0,2% ND +0,6% +0,9% 66,6% (A) +1,6% +0,1% 55,8% -0,2% Pastas Hot chocolate 28,
Slide 11: Commodities index (GNCI)
Commodities index (GNCI) ICGN – December 2014 160 Base 100, December 2012 150 140 144 130 120 110 107 113 112 100 95 90 92 86 80 70 2008 2009 2010 2011 2012 2013 2014 The technical specifications of the GNCI may be obtained at: www.gruponutresa.com/webfm_send/398 11
Slide 12: Raw material diversification
Raw material diversification % COGS Pack. Mat. 12,0% Coffee 9,2% Other* 42,5% Pork 8,4% Wheat 6,6% Cocoa Milk 5,3% Beef 1,9% Poultry Sugar Oils&Fats 1,6% 3,8% 4,1% 4,5% * Includes direct labor costs, indirect costs and minor raw materials 12
Slide 13: EBITDA by business unit – December 2014
EBITDA by business unit – December 2014 EBITDA $864,3 +3,8% margen 13,4% 13,2% 250 -12,0% 222,8 13,5% +6,9% 18,7% 200 12,6% +8,5% Miles de millones 168,8 -10,1% 145,3 150 135,0 14,9% 12,2% -1,5% 100 92,4 80,1 10,5% -2,1% 50 25,1 0 Cárnicos Galletas Chocolates Café Helados Pastas TMLUC EBITDA margin
Slide 14: EBITDA by business unit – 4Q 2014
EBITDA by business unit – 4Q 2014 EBITDA $222,2 -13,8% 12,6% margen 12,2% -15,6% 70 65,4 60 13,4% -11,5% 12,1% Miles de millones 50 47,3 16,3% +6,1% -2,2% 40 37,0 13,3% 34,5 -26,5% 30 9,4% 25,2 -32,2% 10,8% 20 12,7 +8,8% 10 6,6 0 Cárnicos Galletas Chocolates Café Helados Pastas TMLUC EBITDA margin %
Slide 15: Consolidated income statement – December 2014
Consolidated income statement – December 2014 Figures in COP$ MM dic-14 % dic-13 % % var. Total operating revenues 6,461,752 100.0% 5,898,466 100.0% 9.5% Cost of goods sold -3,591,978 -55.6% -3,260,968 -55.3% 10.2% Gross income 2,869,774 44.4% 2,637,498 44.7% 8.8% Administrative expenses -408,021 -6
Slide 16: Consolidated income statement – Q4 2014
Consolidated income statement – Q4 2014 Figures in COP$ MM 4Q14 % 4Q13 % % chg. Total operating revenues 1,815,598 100.0% 1,796,994 100.0% 1.0% Cost of goods sold -1,028,518 -56.6% -1,003,718 -55.9% 2.5% Gross income 787,080 43.4% 793,276 44.1% -0.8% Administrative expenses -110,137 -6.1% -105,338 -
Slide 17: Consolidated net debt
Consolidated net debt 2.000 1.800 Billion pesos 1.780 1.807 1.749 1.600 1.581 1.637 1.400 1.200 1.000 978 800 600 400 486 399 200 0 dic/10 dic/11 dic/12 dic/13 mar/14 jun/14 sep/14 dic/14 Ratio dic-10 dic-11 dic-12 dic-13 mar-14 jun-14 sep-14 dic-14 Net debt / EBITDA 1.82 0.86 0.59 1.90 1.88 2.04 2.
Slide 18: Contact information
Contact information Alejandro Jiménez Moreno Santiago Escobar Roldán Investor relations director Corporate finance director Tel: (+574) 325-8698 Tel: (+574) 325-8680 email: ajimenez@gruponutresa.com email: sescobar@gruponutresa.com For futher information, please visit Grupo Nutresa Valuation Kit (GN
Slide 19: Annex – consolidated balance sheet December 2014
Annex – consolidated balance sheet December 2014 Figures in COP$ MM dic-14 dic-13 % var. ASSETS Cash and temporary investments 374,060 415,478 -10.0% Investments 380,790 357,830 6.4% Receivables 939,981 857,299 9.6% Inventories 865,567 725,323 19.3% Property, plant and equipment 1,625,659 1,456,074
Slide 20: Exoneration of responsibility
Exoneration of responsibility This document can contain forward looking statements related to Grupo Nutresa S.A. and its subordinated companies, under assumptions and estimations made by company management. For better illustration and decision making purposes Grupo Nutresa’s figures are consolidated