Kri-kri Milk Industry S.a. · ATHEX:KRI
Kri-kri Milk Industry — Greek Investment Day in London (December 2024)
23 slides from Kri-kri Milk Industry's conference presentation, December 2024
Slide 1: Investors presentation
Authentic products drive sustainable growth Investors presentation December 2024
Slide 2: Legal disclaimer
INVESTOR PRESENTATION | 9M.2024 Kri Kri Legal Legal disclaimer 02 This presentation was prepared by KRI KRI S.A. The information contained herein has been obtained from company and external sources believed to be reliable, but not guaranteed as to its accuracy or completeness. The information contai
Slide 3: Slide 3
Slide 4: At a glance
INVESTOR PRESENTATION | 9M.2024 At a glance 04 Amounts in €m 245 Yogurt 20% 216 220 GR 76,0 EX 97,5 2020 18,6% 72,6 62,4 16% 15,8% 16,0% 15,4% 172 180 54,7 14,8% 49,8 50,0 49,6 40,2 13,3% 44,3 12,5% 12,4% 12% 135 126 140 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 113 8% 7,8% 7,3% 94 100 Ice c
Slide 5: History
INVESTOR PRESENTATION | 9M.2024 History 05 1987 A fully new and highly 2013 2016 2022 technological plant opened An unexpected fire broke out Marinopoulos SA, one of our The energy crisis, with much in a new area signifying on the yogurt production plant biggest customers in Greece of the countries
Slide 6: Segment review Yogurt exports
INVESTOR PRESENTATION | 9M.2024 Segment review Yogurt exports 06 Total Greek & Greek style Authentic Greek KriKri share 9-month performance € 1,662m € 502m € 134m 46% val Sales +29.9% UK +12.2% val | -2.5% vol +17.2% val | +3.3% vol +37.9% val | 21.1% vol EBIT +5.9% 66% vol Margin -4.4pp Key highlig
Slide 7: Segment review Yogurt Greece
INVESTOR PRESENTATION | 9M.2024 Segment review Yogurt Greece 07 KriKri branded Total share Market structure 9-month performance 15.1% val • Fragmented, highly competitive Sales -0.8% € 268m 13.4% vol • Stable in value +0.9% val | 5.1% vol EBIT -8.6% • Consumers shift to PL • KriKri is the leading pr
Slide 8: Segment review Ice cream (Greece + exports)
INVESTOR PRESENTATION | 9M.2024 Segment review Ice cream (Greece + exports) 08 KriKri branded Total share Market structure 9-month performance 14.0% val • Consolidated Sales +19.6% € 248m Greece +5.5% val | 9.0% vol 11.7% vol • “Lower trade” channel captures the largest EBIT +13.7% stake of the mark
Slide 9: Exports growth | Next station France!
INVESTOR PRESENTATION | 9M.2024 Exports growth I Next station France! 09 Entering in France • High protein yogurt • Private label • € 4 million estimated annual sales
Slide 10: Exports growth | Frozen yogurt in USA
INVESTOR PRESENTATION | 9M.2024 Exports growth I Frozen yogurt in USA 10 Ice-cream market in USA $ 19 b. Frozen yogurt market in USA For ice cream lovers who seek for healthier options without compromising on pleasure, KRI KRI Greek Frozen Yogurt is a guilt-free frozen delight, that artfully combine
Slide 11: Exports growth | Greek high protein yogurt in UK and Italy
INVESTOR PRESENTATION | 9M.2024 Exports growth I Greek high protein yogurt in UK and Italy 11 • Targeting tapping into the growing market of high-protein yogurts • New recipe. Naturally High in Protein (+20% more protein content) • Branded products. Differentiated from typical Greek yogurts • Expans
Slide 12: Estimates for 2024
INVESTOR PRESENTATION | 9M.2024 Estimates for 2024 12 Total sales are expected to exceed Sales Growth €245m in 2024. 2024 2024 IFRS - €m 2023 Δ% 2022 2021 est. init. EBIT margin is expected to be Sales 245 233 216,3 13,27% 171,8 134,6 Profit Margins around 16%. EBIT 39,2 35,0 40,3 -2,73% 4,0 16,7 EB
Slide 13: Dividend
INVESTOR PRESENTATION | 9M.2024 Dividend 13 45 0,50 40,3 0,40 2023 2022 2021 2020 2019 30 0,30 EBT (m) 40,3 3,8 16,5 18,4 17,6 EAT (m) 32,3 3,2 13,2 15,8 15 16,5 18,4 17,6 0,20 EPS 0,98 0,10 0,40 0,48 0,45 15 DPS 0,35 0,20 0,20 0,20 0,18 0,10 3,8 Payout ratio 35,7% 208,3% 50,1% 41,9% 39,7% 0 0,00 Di
Slide 14: Share information
INVESTOR PRESENTATION | 9M.2024 Share information 14 Share information Shareholders’ structure Contact information Tsinavos Family : 69,8% KRI KRI S.A. MILK INDUSTRY Market: Main market Institutionals domestic : 11,6% 3rd km Serres-Drama Sector: Food & Beverage Serres Institutionals abroad : 11,9% P
Slide 15: Investment proposal summary
INVESTOR PRESENTATION | 9M.2024 Investment proposal summary 15 Investment ✓ One of the few listed companies globally with clear exposure to the Greek Yogurt investment theme. ✓ High returns and dividend payments to shareholders. Management ✓ An experienced and loyal management team that has led KRI
Slide 16: Appendix: Financial Results
INVESTOR PRESENTATION | 9M.2024 Appendix: Financial Results 16 Profit and Loss Statement (amounts in million Euro) Margins 9M.2024 9M.2023 Δ% 9M.2024 9M.2023 Sales 207,5 176,7 17,4% Gross Profit 69,5 62,7 10,7% 33,5% 35,5% Operating Expenses 29,7 24,8 19,5% 14,3% 14,0% EBIT 39,8 37,9 4,9% 19,2% 21,5
Slide 17: Appendix: Sales bridge
INVESTOR PRESENTATION | 9M.2024 Appendix: Sales bridge (amounts in million Euro) 17 2 1 2 5 51 2 1 ales .2 2 pr ces olumes pr ces olumes ther ales .2 2
Slide 18: Appendix: Gross Profit bridge
INVESTOR PRESENTATION | 9M.2024 Appendix: Gross Profit bridge (amounts in million Euro) 18 ross pro t .2 2 ales uant t es ales pr ces aw mater al pr ces roduct on e penses ross pro t .2 2
Slide 19: Appendix: EBIT bridge
INVESTOR PRESENTATION | 9M.2024 Appendix: EBIT bridge (amounts in million Euro) 19 EBIT margin erosion • Δ% Sales +17,4% • Δ% OpEx +19,5% .2 2 ross pro t ar p ar .2 2
Slide 20: Greek yogurt growth in the UK
Greek yogurt growth in the UK VALUE SALES IN EUROS VOLUME SALES IN KG PRICE PER KG IN EUROS TOTAL UK Year Year Year 2022 Year 2023 % CHNG Year 2022 Year 2023 % CHNG % CHNG 2022 2023 TOTAL ADULT SPOONABLE YOGURT 1.481.672.561 1.662.093.120 12,2% 389.933.617 380.169.760 -2,5% 3,80 4,37 15% GREEK & GRE
Slide 21: High Protein yogurt market in the UK
High Protein yogurt market in the UK VALUE SALES IN EUROS VOLUME SALES IN KG TOTAL UK Year 2022 Year 2023 % CHNG Year 2022 Year 2023 % CHNG TOTAL ADULT SPOONABLE YOGURT 1.481.672.561 1.662.093.120 12% 389.933.617 380.169.760 -2,5% TOTAL HIGH PROTEIN YOGURTS 72.566.827 104.186.779 43,6% 13.287.151 17
Slide 22: Greek yogurt growth in Italy
Greek yogurt growth in Italy Value Sales in Euros Volume Sales in kg Price per kg MARKET: TOTAL ITALY 2022 2023 %chg 2022 2023 %chg 2022 2023 %chg TOTAL SPOONABLE YOGURT 1.635.551.042 1.852.622.365 13,3 416.657.190 422.198.527 1,3 3,93 4,39 11,8 TOTAL GREEK YOGURT 305.453.795 379.145.257 24,1 48.332
Slide 23: High Protein yogurt market in Italy
High Protein yogurt market in Italy Value Sales in Euros Volume Sales in kg Price per kg MARKET: TOTAL ITALY 2022 2023 %chg 2022 2023 %chg 2022 2023 %chg TOTAL SPOONABLE YOGURT 1.635.551.042 1.852.622.365 13,3 416.657.190 422.198.527 1,3 3,93 4,39 11,8 HIGH PROTEIN YOGURT 31.278.413 40.810.757 30,5
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