Grupo Bimbo Sab De Cv Class A · BMV:BIMBO/A
Grupo Bimbo Sab De Cv Class A — Q4 2014 Earnings Presentation
28 slides from Grupo Bimbo Sab De Cv Class A's earnings presentation, February 2015
Slide 1: Investor Presentation Fourth Quarter 2014
INVESTOR PRESENTATION Fourth Quarter 2014
Slide 2: Control Group, Float and Market Cap
Control Group: 77% Market Cap: US$13.2 bn(1) Float: 23% 2014 Revenues(2) Countries Plants Routes Sales Centers POS Associates Brands Products US$14.1 Bn 22 167 ≈52,000 ≈1,700 ≈2.4 million ≈129,000 ≈100 ≈10,000 5 YR CAGR: 10.3% Central and U.S. & Canada Mexico Europe Asia South America U.S. Canada __
Slide 3: Where do we stand?
Where do we stand? A Global Consumer Products Company and the leader in the baking industry space Remarkable growth story with financial stability Investments on manufacturing and logistics capabilities targeted to foster productivity Unyielding discipline on a conservative financial policy Successf
Slide 4: Successful Growth Case
Successful Growth Case Long term view and a strict reinvestment policy Strict and execution continue to drive organic growth Innovation Reinvestment Acquisitions have been a key component to gain global reach 2014 Leadership position in both, mature and high growth markets 2011 2009 Accele
Slide 5: Key Success Drivers
Key Success Drivers 1 Leading Global Baking Company 5 Best-in-Class 2 Operating Capabilities Solid Growth Platform 4 3 Unique Portfolio of Highly Seasoned Management Team, Recognized Brands and Sound Governance & Strong Innovative Products Corporate Identity 5
Slide 6: A Well Balanced Business with a Strong Leadership Position in each Market
A Well Balanced Business with a Strong Leadership Position in each Market U.S. Portugal, Spain & U.K. China(1) Leader nationwide #1 in bread & rolls in Spain Pioneer in developing #1 in premium brands #2 in bread & rolls in Portugal packaged baked goods #1 in English muffins in Beijing a
Slide 7: Solid Growth Platform
Solid Growth Platform Packaged Bread Penetration(1) Global Baking Industry Market Share(2) Opportunity to increase market penetration and leverage scale Plenty of room to continue growing 4% 3% 2% 64% 62% 33% 27% 25% 17% 11% 8% 7% Other 91% Attractive Positioning to Boost Growth Potential to increas
Slide 8: Seasoned Management Team, Sound Governance & Strong Corporate Identity
Seasoned Management Team, Sound Governance & Strong Corporate Identity Management Daniel Servitje Positioned the Company as market leader in the products and Chairman of the Board countries where present Proven track record of stability and sustainable growth Audit Committee and Results and Eval
Slide 9: Unique Portfolio of Brands
Unique Portafolio of Brands Power Brands, Coupled with Strong Regional Brands Billion-dollar brands with global presence Achieved leadership in core product categories in key markets . . . . . . . . Top-of-mind awareness that upholds consumer loyalty Introduction of umbrella brands adapted t
Slide 10: We are Developing Products and Categories that Lead New Megatrends
We are Developing Products and Categories that Lead New Megatrends New products capitalizing on consumer trends Nutritional profile improvements with a health & wellness focus Five innovation and nutrition institutes for new and better product development 2 in U.S., 1 in Mexico, 1 in Brazil
Slide 11: World Class Manufacturing Capabilities coupled with an Unparalleled Distribution Network
World Class Manufacturing Capabilities coupled with an Unparalleled Distribution Network Exceptional Manufacturing Guarantees Unmatched Distribution Network Focus in low-cost manufacturing and quality and freshness Direct store distribution with one of boost efficiency the largest truck fleets
Slide 12: Building a Sustainable Future
Building a Sustainable Future We understand there is no conflict in doing good and doing well +300K credits to Our wind farm in WHO and SSA family owned +129K associates in Mexico represents guidelines business 22 countries 23% of total energy Trans fats removed consumption 68K students Solid ethics
Slide 13: Strong Financial Performance
Strong Financial Performance Revenue Growth1 EBITDA Growth1 (US$ in millions) (US$ in millions) EBITDA Margin 13,786 14,064 13,164 1,370 1,357 10,733 1,173 1,224 1,183 1,070 8,619 9,273 2009 2010 2011* 2012 2013 2014 2009 2010 2011* 2012 2013 2014 Europe Latin America U.S. & Canada Mexico GB 13.6% 1
Slide 14: Cash Flow Stability Across Time Allows Long Term Planning and Risk Management
Cash Flow Stability Across Time Allows Long Term Planning and Risk Management Margins Evolution (%) EBIT Margin EBITDA Margin Gross Margin 56.2 56.7 54.8 53.7 54.0 53.4 53.3 53.1 53.3 53.0 52.8 52.8 52.8 52.3 53.0 51.2 51.1 51.0 50.7 48.6 47.9 Integration/transformation efforts & IFRS 13.0 13.5 13.8
Slide 15: Responsible Financial Policies
Responsible Financial Policies Responsible Financial Management Dividend History(1) (MXN in millions) Commitment to a strong Balance Sheet Ordinary Dividends Extraordinary Dividends Ongoing financial flexibility through a US$2 billion multi-currency revolving credit facility, maturing on March 2
Slide 16: Conservative Approach towards Leverage
Conservative Approach towards Leverage Debt Amortization Profile(1) Track Record of Deleveraging Total Debt: US$4,051 mm (Total Debt/EBITDA) Avg. Tenor: 8.9 yrs. Avg. Cost: 4.4% 800 800 800 3.3x(2) 3.1x 3.2x(3) 3.0x 500 2.5x 452 2.3x 340 340 1.9x 2.3x 2.2x 1.5x 1.1x 1.2x 1.1x 0.9x 19 0.7x 2015 2016
Slide 17: Recent Developments
Recent Developments 17
Slide 18: Canada Bread Acquisition
Canada Bread Acquisition Compelling Acquisition Drivers Canada Bread is one of the leading manufacturers and marketers of baking products with presence in Canada, Attractive Strategic Industry North America and the U.K. Stable growth and low price volatility Frozen category opportunity Market Positi
Slide 19: Supan Acquisition
Supan Acquisition Supan’s acquisition represented Grupo Bimbo’s entry to the Ecuadorian market following its strategy to further strengthen its footprint in the Americas Products Transaction Rationale Leading bread producer in Ecuador Participates in the packaged bread, buns and sweet baked good
Slide 20: BBU Transformation
BBU Transformation U.S. Baking Consolidation Bimbo Bakeries USA (BBU) Transformational Work Evolving Competitive Landscape in the Last Decade Creating the New BBU Closed 17 bakeries, opened 2 state-of- Private Label 4% 5% Asset Strategy the-art bakeries 2004 11% 25% Invest to ensure efficiency a
Slide 21: Annex: Financial Results by Region
Annex: Financial Results by Region 21
Slide 22: Grupo Bimbo - Quarterly Results
Grupo Bimbo - Quarterly Results Revenue Growth EBITDA (MXN$ in millions) (MXN$ in millions) 7.1% 10.3% 11.1% 10.8% 9.9% 10.8% 187,051 7.8% 174,623 9.9% 10.8% 10.4% 9.8% 11.9% 5.3% 7.1% 18,384 51,122 17,251 50,154 46,138 45,557 1.6% 44,835 4,840 5,573 4,974 5,300 4,281 4,685 43,275 3,225 2,978 42,132
Slide 23: Mexico - Quarterly Results
Mexico- Quarterly Results Revenue Growth EBITDA (MXN$ in millions) (MXN$ in millions) -1.5% 21.4% 9,0 00 17.6% 16.7% 8,0 00 15.7% 73,178 20.6% 72,095 16.4% 15.8% -3.1% -2.0% 7,0 00 -0.2% -0.5% 11.7% 6,0 00 14.2% 12,012 11,562 18,698 18,966 18,584 5,0 00 17,739 17,709 17,775 18,110 11.7% 3,912 3,970
Slide 24: US & Canada - Quarterly Results
US & Canada- Quarterly Results Revenue Growth EBITDA (MXN$ in millions) (MXN$ in millions) 13.3% 8.2% 8.1% 21.3% 6,0 00 21.3% 90,375 7.3% 79,767 8.0% 8.0% 6.2% 5,0 00 25,672 5.8% 7.8% 24,741 7.0% 5,789 5,588 4,0 00 1.1% 21,548 21,165 19,986 20,400 3,0 00 4.2% 18,415 4.4% 18,216 1,977 2,0 00 1,278 1,
Slide 25: Latin America - Quarterly Results
Latin America- Quarterly Results Revenue Growth EBITDA (MXN$ in millions) (MXN$ in millions) 7.5% 3.0% 4.8% 5.6% 3.9% 2.4% 21,931 735 2.5% 2.4% 0.2% 19.5% 8.1% 20,405 -1.9% -2.4% 8.0% 535 8.4% 857 336 6,377 335 270 148 127 5,208 5,646 5,348 5,775 5,337 5,592 6,046 123 120 135 43 -65 -265 -93 -132 -4
Slide 26: Europe - Quarterly Results
Europe - Quarterly Results Revenue Growth EBITDA (MXN$ in millions) (MXN$ in millions) 29.6% -0.5% 0.6% -0.9% -0.9% 735 -3.3% 6,897 -2.0% 37.2% 31.6% -3.9% -3.6% -3.8% -6.2% 535 29.0% 5,323 19.0% 335 1,637 1,918 1,890 1,219 1,451 11 135 1,269 1,399 1,436 -65 -49 -9 -28 -52 -18 -63 -75 -47 -265 -204
Slide 27: Thank you
Thank you 27
Slide 28: Disclaimer
The information contained herein has been prepared by Grupo Bimbo, S.A.B. de C.V. (the “Company") solely for use at investors´ presentations. The information herein is only a summary and does not purport to be complete. This material has been prepared solely for informational purposes and should not