Coca-cola Icecek A.s. · BIST:CCOLA
Coca-cola Icecek A.s — Q2 2011 Earnings Presentation
17 slides from Coca-cola Icecek A.s's earnings presentation, Aug 18, 2011
Slide 1: 2Q11 Results
2Q11 Results August 18, 2011 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: 2Q11 Review
2Q11 Review Fifth consecutive quarter of double digit volume growth Top-line growth in all CCI operations and in all categories Input cost pressure High FX volatility 3
Slide 4: Turkey
Turkey Consumer confidence was highest in June Economy is expected to decelerate in 2Q and the remainder of the year Incoming tourists was up 11% in 2Q Weather conditions, tracking behind last year Healthy growth of business across all categories 4
Slide 5: International Operations
International Operations Strong growth momentum in most of the key markets - Pakistan on track by over 10% growth - Strong volume growth continues in Kazakhstan - Azerbaijan volume remained flat - Sixth consecutive quarterly growth over 30% in Iraq Volume split (uc) - International Pakistan 34.2% Ka
Slide 6: Product Introductions in 2Q11
Product Introductions in 2Q11 Six new flavoured tea 200 ml Ramadan Cappy Pulpy Turkey Coca-Cola Sherbet Orange Turkey Turkey Turkey Coke Zero Fanta Lemonade Burn Burn PET Fanta 5L BonAqua Minute Maid Kazakhstan Kazakhstan Kazakhstan Azerbaijan Green Azerbaijan Pulpy Tropical Azerbaijan Apple Pakista
Slide 7: Volume up by 17.7% in 1H11
Volume up by 17.7% in 1H11 Turkey TurkeyVolume Volume International Volume Consolidated Volume (Unit cases in millions) (Unit cases in millions) (Unit cases in millions) 356.5 302.9 259.0 225.2 97.6 77.7 1H10 1H11 1H10 1H11 1H10 1H11 Consolidated up by 15.3% to 219.4 million uc 2Q11 Turkey up by 11.
Slide 8: 1H11 Sales Volume Breakdown
1H11 Sales Volume Breakdown Volume split (uc) - Geography Volume split (uc) – Category Tea 9.0% International Still 27.4% 21.5% Turkey 72.6% Sparkling 69.5% 8
Slide 9: Net sales up by 23.8% in 1H11
Net sales up by 23.8% in 1H11 Turkey TurkeyNet NetSales Sales International Net Sales Consolidated Net Sales (TL in millions) (US$ in millions) (TL in millions) 1,554.8 1,181.2 1,256.2 970.0 189.3 254.0 Consolidated up by 19.2% to TL 967.5 million 2Q11 Turkey up by 17.0% to TL 720.2 million Internat
Slide 10: EBITDA up by 10.3% in 1H11
EBITDA up by 10.3% in 1H11 Turkey TurkeyNet Sales EBITDA International EBITDA Consolidated EBITDA (TL in millions) (US$ in millions) (TL in millions) 202.9 223.8 158.0 175.8 29.3 31.4 1H10 1H11 1H10 1H11 1H10 1H11 Consolidated up by 8.4% to TL 162.3 million 2Q11 Turkey up by 9.7% to TL 121.7 million
Slide 11: Financial Review
Financial Review N. Orhun Köstem CFO 11
Slide 12: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / TL/$ TL/$ International* Turkey Year-End Average Functional TL USD June 30, Currency June 30, 2011 1,6302 2011 1,5641 Reporting December 31, June 30, TL USD Currency 2010 1,5460 2010 1,5163 Presentation ∆ 5.4% ∆ 3.2% Accounti
Slide 13: Key Financials – Consolidated
Key Financials – Consolidated Change Change 1H11 1H10 2Q11 2Q10 % % Volume 356.5 302.9 17.7% 219.4 190.4 15.3% Net Sales 1,554.8 1,256.2 23.8% 967.5 811.4 19.2% Consolidated EBITDA 223.8 202.9 10.3% 162.3 149.6 8.4% (TL million) EBITDA 14.4% 16.2% (1.8 pp) 16.8% 18.4% (1.7pp) Margin Net Income 75.7
Slide 14: Financial Expenses
Financial Expenses Financial Income / (Expense) Breakdown 1H11 1H10 (TL million) Interest income 21.5 20.2 Interest expense (-) (28.7) (24.0) Foreign exchange gain / (loss) 10.2 (0.8) Realized FX gain / (loss) - Borrowings (0.0) (0.7) Unrealized FX gain / (loss) - Borrowings (43.4) (12.9) Gain / (lo
Slide 15: Debt Structure
Debt Structure Million 1H11 FY10 ∆ USD denominated* 595 548 9% EURO denominated* 43 43 0% TL denominated 229 294 (22%) Other (in USD terms) 45 10 350% Total Financial Debt in TL 1,373 1,246 10% Total Cash & Equivalent in TL 278 599 (54%) Net Debt in TL 1,095 647 69% Net Debt in US$ 672 418 61% Matur
Slide 16: Closing Remarks
Closing Remarks Closing Remarks Michael A. O’Neill CEO Michael A. O’Neill CEO 16
Slide 17: Thank you
Thank you Coca-Cola Icecek Investor Relations Tel: +90 216 528 3386 Fax: +90 216 365 8457 CCI-IR@cci.com.tr www.cci.com.tr 17