Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Investor Presentation (2013)
36 slides from Embotelladora Andina SA's investor presentation, 2013
Slide 1: Corporate Presentation
CORPORATE 2013 PRESENTATION
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements made in this presentation that could relate to Andina’s future performance or financial results are forward-looking statements and are based upon currently available data; however, actual results are subject to numerous uncertainties, many of which are beyond th
Slide 3: History
History New bottling facility in Chile begins operations. Coca-Cola System Restructuring of juice Andina Andina listed joint venture on the NYSE. business through becomes (50/50) for the TCCC acquires joint venture with the Coca- Franchise water and juice acquired in 11% of Andina Coca-Cola bottlers
Slide 4: Ownership
Ownership (December 31, 2012) 55.3% 45.3% Controlling Group 50.3% Series A Series B Others 24.1% Coca-Cola 14.7% ADRs 6.3% Chilean Pension Funds 4.7% The Controlling Group is composed of 5 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. Series A elects 12
Slide 5: Consolidated Overview
Consolidated Overview (December 31, 2012) REVENUES EBITDA (million USD) (million USD) CAGR 12.7% CAGR 9.1% 2,410.5 427.7 2,238.5 415.1 2,031.1 365.1 359.3 375.9 1,742.0 1,715.8 303.7 277.2 1,322.9 1,404.6 2008 2009 2010 2010P 2011 2011 P 2012 2008 2009 2010 2010P 2011 2011 P 2012 Includes Vital Jugo
Slide 6: Summary
Summary (December 31, 2012) Ciudad del Este, Asunción, Coronel Oviedo, Rio de Janeiro & Espirito Santo Encarnación Extension: 90 thousand Km2 Extension: 407 thousand Km2 Population: 17.6 million Population: 6.7 million Total volume: 225.1 million UCs Total volume: 63.1 million UCs (FY12) Paraguay Br
Slide 7: Regional Diversification
Regional Diversification (December 31, 2012) (AKOFY12 +KOP 4Q12) Argentina 28% Argentina 27% Argentina 20% Brazil 38% Brazil 38% Brazil 38% Chile 31% Chile 32% Chile 39% Paraguay 3% Paraguay 3% Paraguay 3% Total Volume Total Revenues EBITDA 596 million unit cases 2.4 billion USD 428 million USD 2012
Slide 8: Argentina
Argentina In Argentina the Company has a License Agreement with The Coca-Cola Company for the sale of concentrates and beverage basis for certain Coca-Cola soft drinks and non-soft drink beverages. In accordance with the agreement we have the right to produce and distribute Coca-Cola soft drinks in
Slide 9: Argentina
Argentina We operate 3 production facilities, 1 located in Córdoba with 9 lines and an average Córdoba utilization capacity during 2012 of 58.7%; 1 located in Bahía Blanca (Province of Buenos Santa Fe Aires) with 4 lines and an average utilization capacity during 2012 of 55.6%; 1 located in San Juan
Slide 10: Argentina
Argentina Market Structure (AKOFY12 +KOP 4Q12) Format Mix – Soft Drinks Market Share Soft drinks 59.1% Non-Returnables 52% Total 39.6% Returnables 47% Juices & Others 19.2% Multi Serving 89% Post Mix 1% Waters 10.6% Single Serving 11% Volume Mix Channel Mix – Soft Drinks Per Capita Consumption (8 oz
Slide 11: Argentina
Argentina Brand Portfolio Soft drinks Juices & Others Waters 11
Slide 12: Argentina
Argentina Volume Growth (MUCs) 12.0 Total Volume CAGR 6.2% 8.7 11.6 1.9 3.0 6.7 10.5 Juices, Waters & Others CAGR 44.6% 10.3 9.6 9.8 Diet Soft Drinks CAGR 2.4% Regular Soft Drinks CAGR 5.2% 141.7 119.1 109.9 108.3 108.6 2008 2009 2010 2011 2012 (AKO+KOP 4Q) 12
Slide 13: Argentina
Argentina Financial Highlights (Nominal MUSD) (December 31, 2012) (AKOFY12 +KOP 4Q12) Chilean GAAP IFRS 2008 2009 2009 2010 2011 2011 P 2012 Sales Volume (MUC) 122.0 120.9 120.9 125.2 138.4 151.3 167.0 Net Sales 321.7 315.7 311.8 363.2 479.9 549.3 648.4 Operating Income 34.8 42.3 41.5 46.0 53.6 62.5
Slide 14: Brazil
Brazil In Brazil the Company has a License Agreeement with The Coca-Cola Company for the sale of concentrates and beverage basis for certain Coca-Cola soft drinks and non-soft drink beverages. In accordance with the agreement we have the right to produce and distribute Coca-Cola soft drinks in our f
Slide 15: Brazil
Brazil We operate 2 production facilities located in Jacarepaguá in the State of Rio de Janeiro and in Vitoria in the State of Espírito Santo with a total of 13 lines. Espirito Santo Average utilization capacity for the year 2011 was 75%. The company has 5 Distribution Centers for its products carri
Slide 16: Brazil
Brazil Market Structure (Year 2012) Format Mix – Soft Drinks Market Share1 Soft drinks 59.1% Non-Returnables 88% Total 54.0% Multi Serving 75% Returnables 9% Juices & Others 48.2% Single Serving 25% Waters 12.5% Post Mix 3% Volume Mix1 Channel Mix – Soft Drinks Per Capita Consumption1 (8 oz. bottles
Slide 17: Brazil
Brazil Brand Portfolio Beer Soft drinks Juices & Others Waters 17
Slide 18: Brazil
Brazil Volume Growth (MUCs) (December 31, 2012) Total Volume 26.9 CAGR 5.3% 15.5 21.6 16.7 11.6 19.2 17.7 10.5 20.5 Juices, Waters & Others CAGR 20.7% 22.5 Diet Soft Drinks CAGR -5.8% Regular Soft Drinks CAGR 5.2% 181.5 167.8 165.8 141.0 153.1 2008 2009 2010 2011 2012 18
Slide 19: Brazil
Brazil Financial Highlights (MUSD) (December 31, 2012) Chilean GAAP IFRS 2007 2008 2009 2009 2010 2011 2012 Sales Volume (MUC) 174.7 174.0 185.3 185.3 202.5 205.1 225.0 Net Sales 543.4 582.5 615.1 606.9 799.3 921.0 928.6 Operating Income 96.6 96.5 112.4 107.2 141.6 132.4 132.9 Operating Margin 17.8%
Slide 20: Chile
Chile In Chile the Company has a License Agreeement with The Coca-Cola Company for the sale of concentrates and beverage basis for certain Coca-Cola soft drinks and non-soft drink beverages. In accordance with the agreement we have the right to produce and distribute Coca-Cola soft drinks in our fra
Slide 21: Chile
Chile Tocopilla Calama We operate 4 production facilities, 1 in Antofagasta with 6 lines; 1 in Coquimbo Antofagasta with 3 lines; 1 in Renca (Metropolitan Region) with 9 lines; and 1 in Punta Arenas with 2 lines. Average utilization capacity for 2012 was 46%, 61%, 69% and 34% Taltal respectively. Co
Slide 22: Chile
Chile Market Structure (Year 2012 (AKOFY12 +KOP 4Q12) Format Mix – Soft Drinks Market Share Soft drinks 69.5% Returnables 59% Total 61.3% Multi Serving 82% Non-Returnables 37% Waters 41.7% Single Serving 18% Juices & Others 36.4% Post Mix 4% Volume Mix Channel Mix – Soft Drinks Per Capita Consumptio
Slide 23: Chile
Chile Brand Portfolio Soft drinks Juices & Others Waters 23
Slide 24: Chile
Chile Volume Growth (December 31, 2012) (AKOFY12 +KOP 4Q12) Total Volume CAGR 4.3% 31.0 20.0 23.0 16.8 17.9 Juices, Waters & Others CAGR 13.0% 27.3 24.5 Diet Soft Drinks CAGR 3.6% 22.9 23.0 23.4 Regular Soft Drinks CAGR 2.8% 110.4 120.2 104.7 105.1 109.2 2008 2009 2010 2011 2012 (AKO + KOP 4Q) 24
Slide 25: Chile
Chile Financial Highlights (December 31, 2012) (AKOFY12 +KOP 4Q12) Nominal MUSD) Chilean GAAP IFRS 2008 2009 2009 2010 2010P 2011 2011 P 2012 Sales Volume (MUC) 150.8 152.4 152.4 161.5 152.6 158.0 174.7 185.4 Net Sales 424.4 537.1 488.1 579.5 553.3 630.2 700.8 770.8 Operating Income 91.0 109.6 96.3
Slide 26: Paraguay
Paraguay In Paraguay the Company has a License Agreement with The Coca-Cola Company for the sale of concentrates and beverage basis for certain Coca-Cola soft drinks and non-soft drink beverages. In accordance with the agreement we have the right to produce and distribute Coca-Cola soft drinks in ou
Slide 27: Paraguay
Paraguay We operate 1 production facility located in Asunción with a total of 7 lines for soft drinks, 2 tetra lines and 2 blowing lines. Average utilization capacity for the year 2012 was 84%. The company has 3 Distribution Centers for its products carried out through third party distributing compa
Slide 28: Paraguay
Paraguay Market Structure (FY 2012*) Format Mix – Soft Drinks Market Share Soft drinks 61.6% Non-Returnables 53% Total 57.9% Multi Serving 79% Returnables 46% Waters 56.2% Single Serving 21% Juices & Others 33.7% Post Mix 1% Volume Mix Channel Mix – Soft Drinks Per Capita Consumption (8 oz. bottles)
Slide 29: Paraguay
Paraguay Brand Portfolio Soft drinks Juices & Others Waters 29
Slide 30: Paraguay
Paraguay Volume Growth (MUCs) (December 31, 2012) Total Volume CAGR 6.1% 7.3 2.7 5.7 4.2 4.4 1.4 1.9 3.9 Juices, Waters & Others CAGR 39.1% 4.7 4.3 Diet Soft Drinks CAGR -1.3% Regular Soft Drinks CAGR 4.7% 48.6 50.3 51.3 40.8 42.4 2008 2009 2010 2011 2012 *Paraguay was previously owned by Embotellad
Slide 31: Paraguay
Paraguay Financial Highlights (Nominal MUSD) (December 31, 2012) IFRS 2011 4Q11 2012 4Q12 Sales Volume (MUC) 60.2 18.0 63.1 18.8 Net Sales 213.6 64.7 219.7 67.0 Operating Income 40.5 16.5 22.5 9.7 Operating Margin 19.0% 25.5% 10.2% 14.4% EBITDA 51.1 19.4 36.9 14.4 EBITDA Margin 23.9% 29.9% 16.8% 21.
Slide 32: Consolidated Financial Highlights (USD)
Consolidated Financial Highlights (Nominal million USD) (December 31, 2012) (AKOFY12 +KOP 4Q12) Chilean GAAP IFRS 2008 2009 2009 2010 2010P 2011 2011 P 2012 Total Volume (MUCs) 454.6 458.6 458.6 489.2 480.3 501.5 549.1 596.2 Net Sales 1,331.3 1,465.4 1,404.6 1,742.0 1,715.8 2,031.1 2,238.5 2,410.5 O
Slide 33: Consolidated Financial Highlights (CLP)
Consolidated Financial Highlights (Nominal million CLP) (December 31, 2012) (AKOFY12 +KOP 4Q12) Chilean G AAP IFRS 2008 2009 2009 2010 2010P 2011 2011 P 2012 Total Volume (MUCs) 454.6 458.6 458.6 489.2 480.3 501.5 549.1 596.2 Net Sales 847,301 743,116 785,845 888,714 875,326 982,864 1,083,203 1,172,
Slide 34: Consolidated Balance Sheet
Consolidated Balance Sheet (at December 31, 2012) (Million USD) Cash & C ash Equivalents 116 Current Financial Liabilities 192 Current A ssets 566 Other C urrent Liabilities 528 Non current A ssets + Others 2,392 Non-‐Current Financial Liabilities 362 Goodwill 135 Other Non-‐Current Liabilities 26
Slide 35: Dividends and Market Cap
Dividends and Market Cap (as of December 31, 2012) Dividend Distribution Market Cap (million USD) (billion USD) 5.31 159 150 151 130 110 3.42 2.99 2.36 1.54 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Total dividends paid out since 2000 = US$1.5 billion Dividend Yield 2008 2009 2010 2011 2012
Slide 36: Visit our Website
Visit our Website www.koandina.com 36