Brown Forman Inc · NYSE:BF.A
Brown Forman — Shareholder Meeting (July 2018)
17 slides from Brown Forman's shareholder meeting presentation, Jul 26, 2018
Slide 1: 2018 Annual Stockholders’ Meeting
2018 Annual Stockholders’ Meeting July 26, 2018
Slide 2: Geo. Garvin Brown IV, Chairman of the Board
Geo. Garvin Brown IV Chairman of the Board 2018 Brown-Forman Annual Stockholders’ Meeting
Slide 3: Paul C. Varga, Chief Executive Officer
Paul C. Varga Chief Executive Officer 2018 Brown-Forman Annual Stockholders’ Meeting
Slide 4: Retirement is waking up in the morning with nothing to do
Retirement is waking up in the morning with nothing to do and by bedtime having done 4 only half of it.
Slide 5: Fiscal 2018… An Exceptional Year of Focus & Execution
Fiscal 2018… An Exceptional Year of Focus & Execution 5 Underlying FX tailwind Balanced Balanced and Industry-leading performance helped reported growth both comprehensive operating accelerated results geographically capital margin, ROIC, and portfolio deployment and TSR
Slide 6: Video
Video 6
Slide 7: F18 TSR Outpaced Comp Set and Other Benchmarks for All Timeframes
F18 TSR Outpaced Comp Set and Other Benchmarks for All Timeframes BFB 53% BFB 18% 1 Year 3 Year Comp Set 19% Comp Set 14% S&P 500 14% S&P 500 11% Consumer Consumer Staples -6% 4% Staples 7 BFB 17% BFB 17% S&P 500 13% 5 Year 10 Year Comp Set 12% Comp Set 10% Consumer 9% Staples Consumer 7% Staples S&
Slide 8: 10 Year Value Creation
Driving Leading Returns for Shareholders We are Focused on Continuing this Winning Track Record for Years to Come! $600 $501 10 Year Value Creation $500 $400 8 $300 $317 $239 $200 $100 $0 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 S&P 500 Consumer Staples Comp Set B
Slide 9: In Pursuit of Superior Investments
In Pursuit of Superior Investments Expected Stock Price Expected Return of Investment Style Relative Risk (Beta) Appreciation Cash (Dividend) Growth High Low High 9 Growth & Income Medium Medium Medium Income Low High Low I C O N S o f A M E R I C A N W H I S K E Y
Slide 10: S&P 500 + Spirits Peer Companies
S&P 500 + Spirits Peer Companies 509 companies 138 companies Price Appreciation ≥ 10% 68 companies Risk Adjusted 10 8 companies Dividend yield ≥ 2.5% 2 companies 25+ years of dividend increases ROIC ≥ 20% Source: Bloomberg except for return on invested capital (ROIC), which is sourced from Reuters;
Slide 11: Icons of American Whiskey
I C O N S o f A M E R I C A N W H I S K E Y 11
Slide 12: The global opportunity is huge, led by our American Whiskey portfolio
The global opportunity is huge, led by our American Whiskey portfolio. 12
Slide 13: Many Ingredients in our Success
Many Ingredients in our Success 13 Active Portfolio Superb Brand Excellent Capital Strong Governance Great People / Management Building Deployment System Great Culture
Slide 14: Slide 14
Slide 15: Slide 15
Slide 16: AIJAMSTHM NVIIYAWW $9 SNOODI (=)
AIJAMSTHM NVIIYAWW $9 SNOODI (=)
Slide 17: 2018 Annual Stockholders’ Meeting
2018 Annual Stockholders’ Meeting July 26, 2018