Vina Concha y Toro S.A. · BCS:CONCHATORO
Vina Concha y Toro — Q1 2014 Earnings Presentation
24 slides from Vina Concha y Toro's earnings presentation, June 2014
Slide 1: Investor Presentation – 1Q14 Results
Investor Presentation – 1Q14 Results June 2014
Slide 2: First Quarter 2014 Results
1 First Quarter 2014 Results
Slide 3: Performance 1Q 2014
Performance 1Q 2014 Income Statement 1Q14 1Q13 Change % Sales (Ch$ million) $ 114,344 $ 91,081 25.5% Exports * (Ch$ million) $ 78,124 $ 59,146 32.1% Exports * (US$ million) $ 142 $ 125 13.5% % Exports 68.3% 64.9% Export volume * ('000 cases) 4,484 4,107 9.2% Operating Result (Ch$ million) $ 11,531 $
Slide 4: Performance 1Q 2014, Significant Growth
Performance 1Q 2014, Significant Growth Consolidated Sales Consolidated EBITDA (million Ch$) Consolidated Net Profit (million Ch$) 1 4
Slide 5: Consolidated Sales
Consolidated Sales Consolidated Sales (million Ch$) +25.5% Consolidated Volume (million 9 liter cases, Wine) +5.4% 1 5
Slide 6: Export Sales
Export Sales Export Sales Export Volume (million Ch$) (thousand cases) +32.1% +9.2% Average Export Price Premium Wines Export Volume (US$ / 9 liter Case) (thousand cases) +3.2% +23.6% 3 6
Slide 7: Leading Position Over Chilean Exports
Leading Position Over Chilean Exports Exports of Bottled Wine Volume Value 2004 29.2% 25.8% 2005 32.2% 27.2% 2006 33.4% 28.3% 2007 34.9% 30.2% 2008 37.0% 31.4% 2009 38.3% 32.3% 2010 36.6% 31.5% 2011 33.7% 29.7% 2012 35.4% 31.3% 2013 33.9% 30.5% 3M 2014 32.0% 30.0% Source: Vinos de Chile 1 (*) Includ
Slide 8: Leading Position Over Chilean Exports
Leading Position Over Chilean Exports Share over % Part of CyT in Rank Growth Rank 2012 Country chilean bottled total Chilean Rank 2013 2013/2012 export (volume) bottled Exports st st 1 1 st # United Kingdom 15.7% -13.7% 45.3% 1 nd st 2 2 nd # USA 14.1% 2.0% 36.8% 1 rd st 3 3 rd # Brazil 6.6% -7.5%
Slide 9: Concha y Toro Export Growth by Region
Concha y Toro Export Growth by Region Mix of Export Sales % Change Volume Region 2011 2012 2013 3M 2014 2011 2012 2013 3M 2014 U.K. 25.3% 26.8% 25.8% 30.9% -9.1% 8.5% -0.8% 31.2% Continental Europe 18.5% 18.2% 18.6% 16.3% -7.0% 1.0% 4.0% -7.2% (1) Nordics (SWE, FIN, NOR) 4.8% 4.9% 5.1% 6.2% -5.2% 6.
Slide 10: Distribution Subsidiaries: Driving the Growth
Distribution Subsidiaries: Driving the Growth Volume Volume Volume Volume Volume Volume Thousands of 9 Liter Cases 2009 2010 2011 2012 2013 3M 2014 Total Volume Holding 28,108 29,203 29,658 30,196 30,266 6,299 Total Volume through our 15,630 15,883 17,332 19,925 19,839 4,403 Distribution Subsidairie
Slide 11: Domestic Market - Chile
Domestic Market - Chile Domestic Market – Wine Sales Domestic Market – Wine Volume (million Ch$) (Thousand Liters) CAGR: -1.0% +3.9% +1.3% Premium Wine Growth (Thousand Liters) % Premium/ % Premium/ Year Total Volume Total Value 2006 3.1% 13.0% 2007 2.7% 13.2% 2008 3.1% 15.2% 2009 3.5% 16.3% +3.7% 2
Slide 12: Trivento
Trivento Domestic Sales Average Domestic Price (thousand AR$) (AR$/ 9 liter Case) +10.4% +1.1% -11.6% Export Sales Average Export Price (thousand US$) (US$ / 9 liter Case) CAGR: 4.0% +7.2% +1.1% 3 12
Slide 13: Fetzer
Fetzer Total Sales Total Volume (million Ch$) (thousand liters) Export Sales Export Volume (million Ch$) (thousand liters) 3 13
Slide 14: Sales Disclosure
Sales Disclosure Sales Breakdown by Origin Sales Breakdown by Currency Currency Mix 3M14 3M13 CLP 20.5% 21.2% USD 34.2% 37.0% GBP 21.3% 16.9% EUR 10.3% 9.9% CAD 3.1% 2.8% ARG 0.7% 1.1% SEK 3.4% 3.4% NOK 0.9% 1.1% BRL 3.1% 3.6% MXN 2.5% 3.0% Export Markets include exports to third parties and distrib
Slide 15: Performance 1Q 2014, Significant Growth
Performance 1Q 2014, Significant Growth Consolidated Sales Consolidated EBITDA (million Ch$) Consolidated Net Profit (million Ch$) 1 15
Slide 16: Consolidated EBITDA
Consolidated EBITDA Consolidated EBITDA (million Ch$) CAGR: 6.6% +63.1% Consolidated Mg. EBITDA (% of Sales) 1 16
Slide 17: Key Factors over EBITDA Performance
Key Factors over EBITDA Performance 1- Increase in Commercialized Volume 2- Higher Exchange Rate 3- Lower Cost of Wine 1 17
Slide 18: Exchange Rate
Exchange Rate CLP against USD 1 18
Slide 19: Significant shift in Chilean bulk wine price curve
Significant shift in Chilean bulk wine price curve Chilean Bulk Wine Price 1 19
Slide 20: Investor Presentation – 1Q14 Results
Investor Presentation – 1Q14 Results June 2014
Slide 21: Exhibits
2 Exhibits f ' _ Casillere Cow Sue TRIVENTO ‘ be Diablo
Slide 22: Sales 1Q2014 & 3M2014
Sales 1Q2014 & 3M2014 Change Total Sales⁽⁽ *⁾⁾ (in Ch$ million) 1Q14 1Q13 (%) Chile Domestic Market - wine 12,140 11,684 3.9% Chile Domestic Market - new business 10,314 5,849 76.3% Export markets⁽¹⁾ 73,130 55,255 32.4% Argentina Domestic 910 1,215 -25.1% Argentina Exports⁽²⁾ 3,550 2,995 18.5% U.S.A
Slide 23: Financial Debt
Financial Debt Financial Debt* as of: Mar-14 Mar-13 Ch$ MM Av. Interest rate Ch$ MM Av. Interest rate USD 137,366 3.06% 148,417 2.93% EUR 1,955 1.32% GBP 3,034 1.49% 2,509 2.36% CLP 18,853 6.00% UF 81,930 3.74% 82,061 3.74% ARS 5,596 17.06% 7,350 14.58% BRL 8,678 11.63% 3,626 9.80% MXN SEK 1,013 2.1
Slide 24: Concha y Toro’s Stock
Concha y Toro’s Stock US$ 1.5 million of Average Daily Value Traded in 2014 4 24