Alicorp Saa · BVL:ALICORC1
Alicorp Saa — Investor Presentation (February 2023)
37 slides from Alicorp Saa's investor presentation, February 2023
Slide 1: Corporate Presentation
CORPORATE PRESENTATION February 2023
Slide 2: Disclaimer
DISCLAIMER This presentation may contain financial or business projections regarding recent acquisitions, their financial or business impact, management expectations and objectives regarding such acquisitions and current management expectations on the operating and financial performance of The Compa
Slide 3: Topics
TOPICS KEY INVESTMENT HIGHLIGHTS 1 ALICORP AT A GLANCE 2 CORPORATE STRATEGY 3 SOLID LIQUIDITY AND STRONG BALANCE SHEET 4 APPENDIX 5
Slide 4: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS
Slide 5: Key Investment Highlights
Key Investment Highlights 1 Leading regional player with a successful business model diversified across product categories and countries 2 Portfolio of top-of-mind and leading brands with a proven track record of successful new product offerings 3 Unique manufacturing and distribution platform to se
Slide 6: Leading regional player with a diversified business model
KEY INVESTMENT HIGHLIGHTS 1. Leading regional player with a successful business model diversified across product categories and countries UNMATCHED PORTFOLIO OF HIGHLY SUCCESSFUL LEADING BRANDS ACROSS DIFFERENT SECTORS AND COUNTRIES Brands with leading position and market share in market and custome
Slide 7: Top-of-mind portfolio and leading brands with successful new product offerings
KEY INVESTMENT HIGHLIGHTS Top-of-mind portfolio and leading brands with a proven track record of successful new product offerings SUCCESSFUL NEW PRODUCT LAUNCH STRATEGY WITH MORE THAN 160 OWN BRANS ACROSS DIFFERENT TIERS AND CATEGORIES CONSUMER GOODS EDIBLE LAUNDRY PERSONAL TIERS PASTA SAUCES FLOUR
Slide 8: Unique manufacturing and distribution platform
KEY INVESTMENT HIGHLIGHTS 3. Unique manufacturing and distribution platform to serve Consumer Goods, B2B and Aquafeed clients OUR MANUFACTURING AND DISTRIBUTION NETWORK EFFICIENTLY INTEGRATES LOCAL AND REGIONAL OPERATIONS Distribution Capabilities1 For Consumer Goods and B2B, strong manufacturing an
Slide 9: Solid financial performance driven by efficiency program
KEY INVESTMENT HIGHLIGHTS Solid financial performance driven by our comprehensive efficiency program and shareholder value creation mindset SALES EVOLUTION EBITDA & EBITDA MARGIN In PEN million In PEN million CAGR CAGR +11% +9% 15,406 1,622 12,216 1,277 1,317 1,119 9,872 1,022 9,348 8,289 903 802 6,
Slide 10: Highly experienced management supported by leading shareholder group
KEY INVESTMENT HIGHLIGHTS Highly experienced management supported by a leading and innovative shareholder group in Peru OUTSTANDING MANAGEMENT TEAM COMBINES PROVEN TRACK RECORD OF ORGANIC AND INORGANIC GROWTH STRATEGIES AND VAST SECTOR EXPERIENCE ▪ Support from a regional conglomerate champion such
Slide 11: Alicorp at a Glance
ALICORP AT A GLANCE
Slide 12: Leading consumer goods company in Peru and one of the biggest in Latin America
ALICORP AT A GLANCE Alicorp is the leading company of consumer goods in Peru and one of the biggest in Latin America ALICORP IN THE REGION DIVISION BY BUSINESS UNIT BRANDED FOODS, HOME & PERSONAL CARE CONSUMER 2022 36% of total revenue Honduras GOODS REVENUES 78% 13% 4% OTHERS 4 % Nicaragua Costa Ri
Slide 13: Our Journey Towards a More Sustainable Company
ALICORP AT A GLANCE We continue to progress in Our Journey Towards a More Sustainable Company STRATEGIC PILLARS IN 2021 WE STARTED A Our roadmap PROCESS OF REVISING, CLOSING GAPS TO THE ALIGNMENT WITH STRENGTHENING AND EXPECTATIONS OF KEY CORPORATE WELLBEING PRIORITIZING OUR STAKEHOLDERS STRATEGY SU
Slide 14: Consumer Goods Peru
ALICORP AT A GLANCE Consumer Goods Peru1 MAIN CATEGORIES BREAKDOWN REVENUE AND GROSS MARGIN HIGHLIGHTS % of Sales In PEN million CAGR 2017-2022: +8.6% Production facilities 4,372 OUR CONSUMER 3,895 3,549 3,716 2,892 3,188 Main categories and brands GOODS PERU 31% 23% BUSINESS UNIT 36.7% 30.3% 29.1%
Slide 15: Consumer Goods International
ALICORP AT A GLANCE Consumer Goods International1 GEOGRAPHICAL PRESENCE REVENUE AND GROSS MARGIN In PEN million HIGHLIGHTS CAGR 2017-2022: +0.9% Production facilities 1,706 OUR CGI BUSINESS 1,289 Main exports 1,074 1,127 1,198 PRODUCES AND 1,145 DISTRIBUTES FOODS, 30.1% 24.8% 26.9% 28.2% 21.4% 17.5%
Slide 16: B2B
ALICORP AT A GLANCE B2B1 HOW B2B ADDS VALUE REVENUE AND GROSS MARGIN In PEN million HIGHLIGHTS GO-TO-MARKET CAGR 2017-2022: +12.3% Production facilities OUR B2B BUSINESS 2,690 ▪ HAS THREE MAIN Ample coverage 2,169 ▪ Efficient client segmentation Main categories and brands 1,504 1,586 1,647 1,518 PLA
Slide 17: Aquafeed
ALICORP AT A GLANCE Aquafeed1 GEOGRAPHICAL PRESENCE REVENUE AND GROSS MARGIN In USD million OUR AQUAFEED CAGR 2017-2022: +13.5% 1,017 BUSINESS PRODUCES 650 719 635 SHRIMP FEED IN 539 548 HIGHLIGHTS CHILE, ECUADOR, 21.9% 21.9% 21.2% 19.2% 15.4% 14.8% Main categories and brands PERU AND HONDURAS; 2017
Slide 18: Crushing
ALICORP AT A GLANCE Crushing1,2 VOLUME SOLD REVENUE In thousands of MT In USD million OUR CRUSHING 1,081 +5.3% 813 237 BUSINESS PRODUCES HIGHLIGHTS 1,362 204 1,293 496 Production facilities SUNFLOWER SEED 1,089 308 304 -1% 389 83 128 609 844 OILS AND SOYBEAN 260 368 Main exports 306 OILS AND MEAL TO
Slide 19: Corporate Strategy
si alicorp CORPORATE STRATEGY
Slide 20: Alicorp's updated strategic framework
CORPORATE STRATEGY Alicorp’s updated strategic framework WINNING ASPIRATION We feed a better tomorrow with relevant value propositions for each of our consumers and clients in the Andean Region, transforming markets with our leading brands, ability to innovate, efficient management and the talent of
Slide 21: Alicorp's updated strategic framework: capabilities and key initiatives
CORPORATE STRATEGY Alicorp’s updated strategic framework CAPABILITIES WE CAREFULLY Innovation Digital Our people Portfolio management Technology & processes Sustainability PRIORITIZE INITIATIVES AND MANAGE KEY INITIATIVES & STRATEGIC PROJECTS RESOURCES FOCUSING ON RETURN ON CG PERU CG INTERNATIONAL
Slide 22: FY 2022 Results: Key Indicators
FY 2022 RESULTS Key Indicators We continue to develop our Revenue (PEN MM) EBITDA (PEN MM) innovation and digital +56% +27% initiatives: ALICORP DELIVERS 2017-2022 CAGR 15,406 2017-2022 CAGR 1,622 REMARKABLE RESULTS 17% 12,216 12% 1,277 1,317 → Amarás Almost 10% share of volume 1,119 DESPITE THE 6,9
Slide 23: The purpose of our digital transformation
CORPORATE STRATEGY The purpose of our digital transformation We ask ourselves three questions about We are developing capabilities in order to Alicorp’s core answer these questions DIGITAL TRANSFORMATION How do we increase Alicorp’s sales SEEKS TO ANSWER today? Data Driven THREE QUESTIONS Decision M
Slide 24: Innovation: Amarás, a new brand promise
CORPORATE STRATEGY Innovation: a new brand promise AMARÁS, UNIQUE AS YOUR HAIR AND PERU First remarkable results: ▪ Market share target for 2024 already met at 3.5%1 WHO: Young Peruvians who are tired of purchasing traditional supermarket brands ▪ Almost 10% of volume market share in the hair care c
Slide 25: Digital Initiatives: IoT and analytics for Vitapro's clients
CORPORATE STRATEGY Digital Initiatives INTERNET OF THINGS AND ANALYTICS ECOSYSTEM TO IMPROVE PRODUCTIVITY IN VITAPRO’S CLIENTS Our solution introduces Internet of Things, data and analytics infrastructure to shrimp pool management to improve efficiency OUR PURPOSE IS TO and effectiveness of shrimp f
Slide 26: Solid Liquidity and Strong Balance Sheet
SOLID LIQUIDITY AND STRONG BALANCE SHEET
Slide 27: Leverage and credit rating
SOLID LIQUIDITY AND STRONG BALANCE SHEET Leverage and credit rating MATURITY PROFILE AS OF DECEMBER 20223 PEN million 1,165 TOTAL CASH 940 877 WE PROACTIVELY 756 814 857 143 498 S/ 940 million – as of Q4 ‘22 151 151 504 233 MANAGED OUR 443 606 656 625 161 433 266 248 LIABILITIES AND DEBT COVERAGE1,2
Slide 28: Leverage: indebtedness evolution
SOLID LIQUIDITY AND STRONG BALANCE SHEET Leverage INDEBTEDNESS EVOLUTION Net Debt / EBITDA1,2 PEN million 8,000 3.3x 2 4 7,000 3.0x 2.6x 2.5x 2.5x 3 6,000 DUE TO OUR SOLID 5,000 4,000 4,340 3,641 4,590 3,974 4,033 2 EBITDA PERFORMANCE, 3,000 1 2,000 ALONG WITH OUR CASH 1,000 - GENERATION, AND - -1 Q
Slide 29: Working capital – Cash conversion cycle
SOLID LIQUIDITY AND STRONG BALANCE SHEET Working capital – Cash conversion cycle (CCC) WORKING CAPITAL1,2 Days WE WERE ABLE TO IMPROVE OUR CASH 124 124 124 127 130 CONVERSION CYCLE BY Accounts Payable 3 TWO DAYS COMPARED TO THE LAST QUARTER 107 107 107 109 110 Inventories AND FIVE DAYS OVER THE LAST
Slide 30: Debt Breakdown
APPENDIX Debt Breakdown TOTAL DEBT1 DEC ‘20 DEC ‘21 DEC ‘22 S/ 3,961MM S/ 5,245MM S/ 4,973MM 10.2% 30.7% 32.9% 5.1% 7.5% International Bonds 7.2% 8.1% By Source1 Local Bonds Working Capital Debt 46.7% 5.3% 2.9% LT Bank Debt 34.3% 32.7% Leases (IFRS 16) 29.9% 22.2% 24.3% 15.8% 15.0% 0.9% 22.0% 0.2% B
Slide 31: Dividend Payment Evolution
SOLID LIQUIDITY AND STRONG BALANCE SHEET Dividend Payment Evolution 714 214 214 205 205 0.84 162 145 0.24 0.24 0.25 0.25 120 110 0.19 103 103 0.17 0.13 0.14 0.12 0.12 46 0.05 1 2010 2011 2012 2013 2014 2016 2017 2018 2019 2020 2021 2022 Dividend Paid (PEN million) Dividend per share (PEN) 2010 2011
Slide 32: Appendix
APPENDIX
Slide 33: Alicorp is the undisputed leader in its core markets
ALICORP AT A GLANCE Alicorp is the undisputed leader in its core markets RANKED #1 FOR MAIN CATEGORIES Business Category Brands Rank % of sales1 Competitors Laundry Detergents #1 6.7% Edible Oils #1 5.9% 2 Consumer Goods Peru Pasta #1 3.6% Cookies & Crackers #1 2.2% Industrial Baking Flour #1 6.4% B
Slide 34: Leveraging our distribution model
ALICORP AT A GLANCE Leveraging our distribution model CONSUMER GOODS PERU: GO-TO-MARKET MODEL1 STRONG PRESENCE OF ALICORP’S PRODUCTS IN PERUVIAN HOUSEHOLDS4,5,6 (As % of household presence) 32% TRADITIONAL CHANNEL Exclusive Laundry Detergents 84 distributors 22 11% Pasta 77 Wholesalers 35 SHOPPER 34
Slide 35: Q3 '22 Milestones
APPENDIX Q3 ‘22 MILESTONES
Slide 36: Q4 '22 Milestones
APPENDIX Q4 ’22 Milestones PRODUCT RESEARCH & DEVELOPMENT AWARDS & RECOGNITION BLANCA FLOR OPAL launched a new flour launched a new aimed at the traditional detergent Alfredo Pérez channel in Peru presentation in Gubbins, our CEO, Bolivia was considered among the Top 10 Thanks to the “Crecemos junto
Slide 37: Álvaro Rojas Miro Quesada, Investor Relations Officer
Álvaro Rojas Miro Quesada Investor Relations Officer InvestorRelations@alicorp.com.pe www.alicorp.com.pe This presentation and further detailed information can be found in the following link in our section “Investor Services”: https://inversionistas.alicorp.com.pe/alicorp-ir/public/investor-services
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