Coca-cola Icecek A.s. · BIST:CCOLA
Coca-cola Icecek A.s — Q2 2023 Earnings Presentation
18 slides from Coca-cola Icecek A.s's earnings presentation, Aug 8, 2023
Slide 1: 2Q23 Results
2Q23 RESULTS Aug 8, 2023 SUSTAINABLE VALUE CREATION THROUGH QUALITY GROWTH PUBLIC
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: Operational Review
Operational Review Burak Başarır CEO 3 PUBLIC
Slide 4: 2Q23 in Review
2Q23 in Review Quality Growth Algorithm intact Financial Performance Operational Performance Net Sales EBIT Net Income Volume IC Mix # Of Revenue (TL) (TL) (TL) (UC) Transactions billion 23.3 4.7 billion 448 26.3 3.3 billion million % billion 2.4 -8.9% y/y +80 bps y/y -1.1% y/y +58.4% y/y +90.5 y/y
Slide 5: Consolidated Volume
Consolidated Volume Package mix improvement in 2Q23 along with resilient Fuse Tea and solid Energy category performance 1 Energy 2 Iced Teas 3 IC Mix Highlights +100% +4.1% +0.8 pp y/y y/y y/y Sparkling Stills Water -9.0% y/y -0.2% y/y -15.2% y/y 2Q23 Results 5 PUBLIC
Slide 6: Türkiye: Strong NSR and EBITDA growth, despite softer volume
Türkiye: Strong NSR and EBITDA growth, despite softer volume performance 37% Share of Volume in Total CCI % Highlights % % % +85.6 +61.7 -9.4 -9.0 % y/y y/y % y/y +98.1 y/y Timely price +82.2 y/y adjustments in line Volume Net Sales y/y EBITDA with sticky inflation Performance 166 278 Revenue 9,511
Slide 7: International: Central Asia partially mitigating Pakistan's softer volumes
International: Central Asia partially mitigating Pakistan’s softer volumes in 2Q23 63% Share of Volume in Total CCI Highlights % % % +55.2 % +0.8 % +77.3 -8.6 y/y y/y Mid-single digit y/y y/y % +72.1 +44.5 y/y Coca-ColaTM Volume Net Sales y/y EBITDA growth in 1H23 Performance 282 522 Revenue 13,762
Slide 8: Key International Markets
Key International Markets Strong Momentum in Kazakhstan and Uzbekistan, while Pakistan faced challenges in 2Q23 Volume Share in Kazakhstan Volume Share in Uzbekistan CCI CCI Volume (y/y) Volume (y/y) 12% 11% +2.9% +25.3% Sparkling in 2Q23 : +7% 28% Coca-ColaTM growth On-Premise channel growth above
Slide 9: Financial Review
Financial Review Andriy Avramenko CFO 9 PUBLIC
Slide 10: Summary Financials
Summary Financials: Improving profitability in a challenging environment Net Sales Gross Profit EBIT Net Income Revenue (TL) (TL) (TL) (TL) 2Q23 2Q23 2Q23 2Q23 23.3 +58.4%billion y/y 8.1 billion +74.5% y/y 4.7 billion +90.5% y/y 2.4 billion +93.7% y/y 1H23 1H23 1H23 1H23 38.8 +66.2%billion y/y 13.3
Slide 11: Per UC Metrics
Per UC Metrics Quality Growth Achieved with Effective RGM, Frugal Opex Management & Hedges Consolidated (TL) - FX neutral Net Sales COGS EBIT Revenue per UC per UC per UC 29.9 46.8 20.4 30.6 5.0 9.1 2Q22 2Q23 2Q22 2Q23 2Q22 2Q23 % % % +56.8 +50.1 +83.5 y/y y/y y/y 2Q23 Results 11 PUBLIC
Slide 12: Quality Growth Leading to Real Value Creation
Quality Growth Leading to Real Value Creation CAGR: Effective Mix Right pricing & 9% : 21% Prudent Opex Management Record-high per Governance uc efficiency 2.52 Opex/NSR IC Mix 2.05 24.2% 23.8% 25% 26% 23% 1.80 24.6% NSR/uc 0.51 21.5% 18% USD 20.4% 1.75 1.74 1.67 0.31 19.8% 17.5% EBIT/uc 0.28 USD 17
Slide 13: Positive Business Momentum and Strong Pricing Mitigate Cost Pressures
Positive Business Momentum and Strong Pricing Mitigate Cost Pressures EBIT % Development +90.5 y/y (mTL) +2,214 EBIT Margin EBIT Margin 3,311 20.0% 16.6% 2,446 6,619 -322 -140 -3,311 -339 -1,055 573 188 4,660 2Q22 Price Volume(*) Mix(*) COGS DME OpEx FX Other 2Q23 EBIT Effect EBIT (*) Volume & Mix i
Slide 14: Disciplined Financial Management
Disciplined Financial Management Low Leverage and Manageable FX Short Position despite Acquisition Cash Outflow Gross Debt Cash Net Debt/EBITDA Net Debt Debt, OTHER 9% & Cash & FX OTHER 35% TRY 16% Maturity Position $1.2b $715m Profile EUR 12% TRY 3% USD 62% 0.4x 1.1x 0,6x 0,7x USD 63% ‘20 ‘21 ‘22 ‘
Slide 15: Dynamic Hedging
Dynamic Hedging Securing Long Term Visibility & Controlled Cost Base COGS Breakdown Proactive Risk Management Policy COST OF SALES HEDGING & PRE-BUY RATES Sugar Aluminum Resin 20% Overhead 20% Sugar 2023 2023 2023 30% Packaging 100% 2024 92% 2024 86% 2024 75% 40% 17% * 30% Concentrate *in markets wh
Slide 16: Closing Remarks
Closing Remarks Burak Başarır CEO 17 PUBLIC
Slide 17: We are Committed to Our Purpose of Creating Value
We are Committed to Our Purpose of Creating Value Strong Financial Position Excellent Brand Portfolio Great People Digital Acceleration Sustainability Commitment Excellent Execution Capabilities 2Q23 Results 18 PUBLIC
Slide 18: 2Q23 Results
2Q23 RESULTS Aug 8, 2023 If you have any queries, please contact: CCI Investor Relations Tel: +90 216 528 4376 Email: cci-ir@cci.com.tr PUBLIC
Coca-Cola İçecek A.Ş. — Q2 2023 Earnings Presentation on 6ix