Coca-cola Icecek A.s. · BIST:CCOLA
Coca-cola Icecek A.s — FY2014 Earnings Presentation
19 slides from Coca-cola Icecek A.s's earnings presentation, Mar 6, 2015
Slide 1: FY14 Results
FY14 Results March 6, 2015 Istan Burak Basarir CEO Orhun Kostem CF
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
BURAK BAŞARIR - CEO Operational Review
Slide 4: Highlights in 2014
Highlights in 2014 ● Consolidated - strong topline growth despite significant headwinds ● Turkey – transition towards higher IC share continued ● International – double digit volume growth, supported by market share gains ● Investments - continues in high growth markets ● FCF - Expected to be positi
Slide 5: Contribution to Volume Growth – 2014
Contribution to Volume Growth – 2014 Volume Growth Volume Split by Geography Other 10% 69mn uc Kazakhstan 9% Iraq Turkey 9% 51% 4 mn uc 1131 mn uc Pakistan 1058 mn 21% uc 2013 TR INT'L 2014 5
Slide 6: Category Growth and Breakdown - 2014
Category Growth and Breakdown - 2014 Category Growth Volume Split by Category 6,1% 6,7% 7,6% 7,9% Sparkling 5% 13,7% 14,3% Sparkling Water Water 11% 72,6% 71,1% Tea Still exc. Still 16% Water 2013 2014 6
Slide 7: Turkey Overview - 2014
Turkey Overview - 2014 Category Growth Pricing • Number of transactions up • Price increases on the most selling FC • Sparkling – mid-single digit contraction packages effective from October 2014 • Still, excl. water – high teens up • Strong average pricing growth in 4Q14 • Water – mid-single digit
Slide 8: International Overview - 2014
International Overview - 2014 Market share gains in all key markets +17% • Pakistan – successful campaigns supported +18% volume growth despite headwinds • Kazakhstan – production records in high season to meet strong demand as the +6% devaluation impact has faded • Iraq – volume growth continued in
Slide 9: Financial Review
ORHUN KÖSTEM - CFO Financial Review
Slide 10: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / $/TL $/TL International Year-End Average Turkey Functional December December TL USD 2. 3189 2.1865 Currency 31, 2014 31, 2014 December December Reporting 2.1343 1.9033 TL USD 31, 2013 31, 2013 Currency ∆ 8.6% ∆ 14.9% Presentati
Slide 11: Top Line Performance
Top Line Performance Consolidated 2014 2013 Change % 4Q14 4Q13 Change % Volume (m/uc) 1,131 1,058 6.9 % 198 204 (2.7%) Net Revenue (TL million) 5,985 5,186 15.4% 1,083 1,003 8.0% Net Revenue per UC (TL) 5.29 4.90 8.0% 5.47 4.92 11.1% 2014 2013 Change % 4Q14 4Q13 Change % Turkey Volume (m/uc) 578 574
Slide 12: Profitability
Profitability (TL million) 2014 2013 Change % 4Q14 4Q13 Change % Consolidated EBIT 629 594 5.8% (8) 24 n.m. EBIT Margin 10.5% 11.5% (0.7%) 2.4% EBITDA 962 892 7.8% 71 105 (32.7%) EBITDA Margin 16.1% 17.2% 6.5% 10.5% Net Income/(Loss) (excl. One-off) 315 247 27.6% (37) (49) (25.6%) (TL million) 2014
Slide 13: Financial Expenses
Financial Expenses (TL million) 2014 2013 Interest income 42 40 Interest expense (-) (146) (94) Foreign exchange gain / (loss) 56 103 Unrealized FX gain / (loss) – Borrowings (149) (305) Gain / (loss) on Derivative Transactions 3 0 Financial Income / (Expense) Net (194) (257) 13
Slide 14: Financial Debt Profile
Financial Debt Profile Financial Debt (US$ million) Maturity (US$ million) 1,446 1.140 5% 621 USD 1% 13% 4% EUR 1% 271 90% TL & JD 120 86% 80 27 21 PKR 2015 2016 2017 2018 2020 2023 2013 2014 Net Debt (US$ million) 2013 2014 Change % Net Debt/EBITDA 1.80x 1.96x Total Financial Debt 1,446 1,140 -21%
Slide 15: Free Cash Flow
Free Cash Flow Net Operating Cash Capex (TL million) Free Cash Flow (TL million) Incl. Working Capital (TL million) 748 660 2013 2014 10 2013 2014 -44 2013 2014 -704 -738 15
Slide 16: Outlook and Guidance 2015
Outlook and Guidance 2015 ● Consolidated – High single-digit volume o Turkey – Low single-digit volume growth o International – Low-teens volume growth ● Net revenue growth > volume growth ● EBITDA growth > net revenue growth 16
Slide 17: Our Near Term Strategic Priorities
Our Near Term Strategic Priorities 17
Slide 18: Q&A
Q&A
Slide 19: CONFIDENTIAL
CONFIDENTIAL