Kofola Ceskoslovensko As · PSECZ:KOFOL
Kofola Ceskoslovensko As — 9M 2022 Earnings Presentation
54 slides from Kofola Ceskoslovensko As's earnings presentation, Nov 24, 2022
Slide 1: 9M 2022 Kofola Group Investor presentation
9M 2022 kofola group Investor presentation 24 November 2022
Slide 2: The Kofola Group
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX The Kofola Group One of the most significant producers of non-alcoholic beverages in CEE and SEE Revenue 9M 2022 € 246.3m EBITDA 9M 2022 € 35.7m 11 production plants 2,087 Hea
Slide 3: Our long-term strategy is to be market leader or runner-up
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Sales in countries where Kofola our long-term strategy is to be Group is number one or two in the soft drinks market account for 91% of our total revenue. market leader or run
Slide 4: Product segments
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Product segments DISTRIBUTED AND CATEGORY REVENUE SHARE MAIN OWN BRANDS LICENCED BRANDS Carbonated 9M22 37% Beverages 9M21 38% 35% Waters 35% Non-carbonated 9% Beverages 9% 7%
Slide 5: Long-term organic growth
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Long-term Organic growth Revenue* (CZKm) EBITDA* (CZKm) Excl. acquisitions Total EBITDA margin CAGR 5.5% 17.2% 17.5% 16.7% 17.0% 7,633 13.4% 6,636 CAGR 0.8% 6,410 6,159 6,
Slide 6: Highlights
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX highlights It is now 20 years since the Samaras family has purchased a Kofola brand. For 2022 Xmas, we are coming with two new Kofola limited editions. Vinea brand in cooperat
Slide 7: Our sustainability efforts
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS our sustainability BUSINESS SEGMENTS CONSOLIDATED INDICATORS efforts M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 8: A complex approach is the cornerstone of our sustainability philosophy
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX A Complex APPROACH IS THE CORNERSTONE OF OUR SUSTAINABILITY PHILOSOPHY We have been deeply engaged in the reduction of the impact of our business on the environment since 2010
Slide 9: Sustainability: our 6 key areas of interest
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX SUSTAINABILITY: OUR 6 KEY AREAS OF INTEREST CARBON FOOTPRINT WATER PROTECTION INGREDIENTS AND PRODUCTS We decrease and offset the carbon footprint Water is the cornerstone of
Slide 10: We reduce packaging waste following reduce-reuse-recycle principles
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX WE REDUCE packaging waste FOLLOWING THE REDUCE–REUSE–RECYCLE PRINCIPLES As far as possible, we try not to generate any packaging waste at all. 75 million pints All our draught
Slide 11: We operate with respect to nature, society and individuals
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX We operate with respect to nature, society and individuals. Whole sustainability presentation for download. 9M 2022 INVESTOR PRESENTATION 11
Slide 12: Our latest efforts to put sustainability into practice
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Our latest efforts to put sustainability into practice Kláštorná Kalcia in 100% rPET saved We have also introduced a 100% rPET more than 580 tonnes of plastic last year. bottl
Slide 13: Our latest efforts to put sustainability into practice
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Our latest efforts to put sustainability into practice We have started to map anthropological We are taking an active role in defects in the forests of the Rajecká valley the
Slide 14: Sustainability
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Sustainability: is the innovation of our entire business model; can’t be done by picking and choosing; isn’t about if, but how. 9M 2022 INVESTOR PRESENTATION 14
Slide 15: Kofola group results
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS Kofola group results CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 16: Kofola Group key 3Q 2022 financial indicators
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Kofola Group Key 3Q 2022 financial indicators * Revenue (CZKm) Revenue per main business segments (CZKm) 2,347 2,114 3Q22 3Q21 1,668 1,499 476 445 203 170 3Q22 3Q21 CzechoSlov
Slide 17: Kofola Group key 9M 2022 financial indicators
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Kofola Group Key 9M 2022 financial indicators * Revenue (CZKm) Revenue per main business segments (CZKm) Net debt/LTM EBITDA FCF (CZKm) 6,064 9M22 9M21 788 5,068 3.1 4,335 3.0
Slide 18: Key messages
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Key messages* 9M22 results 3Q22 results innovations Group revenue up by 996.6 CZKm (19.7%). Group revenue up by 233.2 CZKm (11.0%). Royal Crown Cola no sugar. Group EBITDA low
Slide 19: Business segments
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS business segments CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 20: Our business consists of three main segments
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX our business consists of three main segments CzechoSlovakia Adriatic Fresh & Herbs 9M 2022 INVESTOR PRESENTATION 20
Slide 21: Revenue | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue | Czechoslovakia CS Adriatic F&H Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 14% CZECHIA 9M22 9M21 4,293 On premise 24,4
Slide 22: Revenue | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue | Czechoslovakia CS Adriatic F&H Revenue (CZKm) CS market dynamics (value) Source: AC Nielsen, Data Servis, Internal data RETAIL - Kofola CZSK 5,476 RETAIL - Market CZ
Slide 23: EBITDA and EBITDA margin | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX EBITDA and EBITDA margin | Czechoslovakia CS Adriatic F&H Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) EBITDA EBITDA margin EBITDA EBITDA margin 25.6% 20.6%
Slide 24: Revenue | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue | ADRIATIC CS Adriatic F&H Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 25% SLOVENIA 9M22 9M21 1,117 On premise 14,553 11
Slide 25: Revenue | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue | ADRIATIC CS Adriatic F&H Revenue (CZKm) Adriatic market dynamics (value) Source: Canadean, Internal data RETAIL – Kofola RETAIL – Market HORECA – Kofola 129% 1,371 1
Slide 26: EBITDA and EBITDA margin | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX EBITDA and EBITDA margin | ADRIATIC CS Adriatic F&H Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) EBITDA EBITDA margin EBITDA EBITDA margin 26.1% 15.1% 15.2%
Slide 27: Fresh & Herbs: UGO
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Fresh & Herbs: UGO CS Adriatic F&H Revenue (CZKm) Stores split Fresh bars & Salad bars Bottles Packaged food Franchise Own 322 61 49% Current 51% 29 24 Salad bars 192 49 26 23
Slide 28: Fresh & Herbs: LEROS and Premium Rosa
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Fresh & Herbs: LEROS and Premium Rosa CS Adriatic F&H Revenue (CZKm) Premium Rosa Leros Producer of premium natural products 268 such as syrups, juices and jams. 221 190 147 C
Slide 29: Consolidated financial performance indicators
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS Consolidated Financial BUSINESS SEGMENTS CONSOLIDATED INDICATORS Performance Indicators M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 30: Selected financial performance indicators
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Selected financial performance indicators CAPEX (CZKm) Working Capital (WC)* (CZKm) Free CF (CZKm) ROCE** 9M22 9M21 9M22 9M21 9M22 9M21 Adjusted EBITDA 880.2 986.4 Adjusted EB
Slide 31: Selected financial performance indicators
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Selected financial performance indicators Net debt (CZKm) Net debt / adjusted LTM EBITDA Gross and net debt calculation (CZKm) Net debt / adjusted LTM EBITDA 30-9-22 31-12-21
Slide 32: M&A
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS M&A CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 33: M&A Strategy | where we invest?
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX M&A Strategy | where we invest? Authentic healthy raw materials Extensions of our gastro portfolio Mineral water Strong love brands Synergies with current business EBITDA mult
Slide 34: Goals
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS Goals CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 35: Goals 2022
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Goals 2022 2022 EBITDA 1,080 CZKm Revenue growth 19% Max CAPEX 35% of EBITDA Dividend per share 11.3 CZK Net debt / EBITDA ≐ 3.0 9M 2022 INVESTOR PRESENTATION 35
Slide 36: Revenue in main season and October
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue in main season and October Month Change Jun 2022 vs Jun 2021 c. +7% Jul 2022 vs Jul 2021 c. +7% Aug 2022 vs Aug 2021 c. +15% Sep 2022 vs Sep 2021 c. +10% Oct 2022 vs O
Slide 37: More about Kofola
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS MORE About Kofola CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 38: History of successful acquisitions and development
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX History of successful acquisitions and development Acquisition of Vinea Establishment of brand in Slovakia – HoReCa started in the Kofola brand most popular CSD Czechia & Slov
Slide 39: History of successful acquisitions and development
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX History of successful acquisitions and development Expansion into coffee Expansion into the Adriatic region and handcrafted cider Acquisition of Radenska – Acquisition of Espr
Slide 40: Kofola ownership structure as of 30 September 2022
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Kofola ownership structure as of 30 September 2022 Free float (key management persons - excl. AETOS owners) 0.6% Currently 0.1 million shares at Prague Stock Exchange. 27.4% F
Slide 41: Shares owned by key management persons
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Shares owned by key management persons Development in years by type of transaction Increase Decrease 22,471 8,965 19,064 2,822 19,247 15,059 18,709 129,025 20,403 20,215 Pcs 3
Slide 42: Financial stability and further development
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Financial stability and further development We stabilized our financial situation and reduced our debt from around a 4.1 level at the beginning of Covid pandemic to a current
Slide 43: Kofola listed on PSE
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Kofola listed on PSE Earnings per share (CZK) Dividends per share (CZK) Dividend policy 2021 - 2023 14.67 16.20 Approximately CZK 300 million in each financial year. 12.05 13.
Slide 44: Awards
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Awards Victory for Radenska Naturelle and Radenska Kraljevi Randstad Award 2022: Kofola is the winner among vrelec in the 26th International Assessment AGRA 2022 The 26th inte
Slide 45: Awards
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Awards Radenska receives the Environmentally Friendly Company award Kofola is again the most trusted brand among Radenska won in the environmentally friendly company category.
Slide 46: Appendix
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS Appendix CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 47: Results of Kofola Group | 9M 2022
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Results of Kofola Group | 9M 2022 Reconciliation of reported and adjusted results (CZKm) Reported One-offs Adjusted One-offs Revenue 6,064.3 - 6,064.3 Advisory costs of 4.1 CZ
Slide 48: Group Results Comparison 9M
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Group Results Comparison 9M * (CZKm) 9M22 9M21 Change Change (%) Comment Revenue 6,064.3 5,067.7 996.6 19.7% Revenue growth mainly thanks to Cost of sales (3,497.0) (2,767.9)
Slide 49: Group Results Comparison 3Q
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Group Results Comparison 3Q* (CZKm) 3Q22 3Q21 Change Change (%) Comment Revenue 2,347.2 2,114.0 233.2 11.0% Significant Revenue growth in all business Cost of sales (1,323.4)
Slide 50: Consolidated Income Statement
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Consolidated Income Statement* (CZKm) 9M22 9M21 2021** 2020** 2019** 2018** Revenue 6,064.3 5,067.7 6,636.2 6,171.5 6,409.5 6,159.2 Cost of sales (3,497.0) (2,767.9) (3,710.2)
Slide 51: Consolidated Statement of Financial Position
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Consolidated Statement of Financial Position (CZKm) 30.9.2022 31.12.2021 31.12.2020 31.12.2019 31.12.2018* Non-current assets 5,167.9 5,306.3 5,683.6 4,394.0 4,348.8 Current a
Slide 52: Consolidated Statement of cash flows
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Consolidated Statement of cash flows (CZKm) 9M22 9M21 2021 2020 2019 2018 Net cash flows from operating activities 800.4 1,017.8 1,142.0 785.0 932.3 821.2 Net cash flows from
Slide 53: Contact
Contact Should you have any question related to Kofola Group do not hesitate to contact our investor relations office: Lenka Frostová investor@kofola.cz +420 735 749 576 http://investor.kofola.cz/en Kofola ČeskoSlovensko a.s. Nad Porubkou 2278/31A 708 00 Ostrava Czech Republic
Slide 54: Disclaimer
Disclaimer This presentation (“the Presentation”) has been prepared by Kofola ČeskoSlovensko a.s. No warranties or representations can be made as to the comprehensiveness or reliability (“the Company”). of the information contained in this Presentation. Neither the Company nor its directors, manager
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