Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Q4 2018 Earnings Presentation
29 slides from Embotelladora Andina SA's earnings presentation, 2019
Slide 1: 4Q18 Corporate Presentation
Agenda Page 4Q18 [CLIENT NAME] Corporate Presentation 4Q18
Slide 2: #goPaperless
In line with our constant effort to improve Agenda communication with the financial market and at the same time reduce waste generation, Page we have developed the Coca‐Cola Andina IR App. This is an investor relations application, and we will begin a 100% digital communication plan of our Financial
Slide 3: 1. Company Description
1. Company Description Agenda Page [CLIENT NAME]
Slide 4: History
History Merger with KO Polar (incorporation of new During April we began Coca‐Cola System Andina Andina listed on territories in Argentina, distributing AdeS joint venture (50/50) becomes the the NYSE. Chile & Paraguay). products, reinforcing for the water and Coca‐Cola Franchise TCCC acquires Andin
Slide 5: A regional and diversified platform (FY18)
A regional and diversified platform (FY18) Volume Revenues Adjusted EBITDA 9% 9% 12% 31% 34% 38% 27% 25% 17% 33% 32% 33% 751 MM UCs US$2,569 MM US$502 MM Chile Brazil Territories: Antofagasta, Atacama, Coquimbo, Territories: Rio de Janeiro, Espíritu Santo, part of Metropolitan Region, San Antoni
Slide 6: Ownership (As of December 31, 2018)
Ownership (As of December 31, 2018) Controlling Group 45.5% 55.7% 35.20% Series A Series B Others 30.2% Coca‐Cola 14.7% ADRs 3.1% Chilean Pension Funds 6.7% The Controlling Group is composed of 5 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. Series A ele
Slide 7: Superior manufacturing and logistics capabilities
Superior manufacturing and logistics capabilities Argentina Brazil 3 production facilities with a total 3 production facilities with a total of 22 lines of 28 lines ◦ Average utilization ranged from ◦ Average utilization range from 31.5% to 62.2% 34.8% to 69.2% 45 distribution centers 17 dis
Slide 8: Committed to Sustainable Development
Committed to Sustainable Development Generating Social, Economic and Environmental Value in all of our actions Source: Company filings and public releases 7
Slide 9: 2. Market Description
Agenda 2. Market Description Page [CLIENT NAME]
Slide 10: Coca-Cola Andina at a Glance: Market Structure (FY2018)
Coca‐Cola Andina at a Glance: Market Structure (FY2018) Soft Drinks: Without Sugar: 18% With Sugar: 83% Product Mix Sof Drinks 77% Waters 10% Juices & Others 10% Beer 2% 17% 30% Format Mix Non Returnables 60% Returnables 38% Post Mix 2% 16% 10% Channel Mix Soft Drinks per Mom & Pops 33% Wholesalers
Slide 11: Market Structure (FY2018)
Market Structure (FY2018) ARGENTINA BRAZIL Product Mix Product Mix Sof Drinks 83% Waters 11% Juices & Others 6% Sof Drinks 81% Waters 3% Juices & Others 10% Beer 6% Format Mix Format Mix Non Returnables 52% Returnables 47% Post Mix 1% Non Returnables 75% Returnables 23% Post Mix 2% Channel Mix Chann
Slide 12: Diversified brand portfolio across segments and geographies
Diversified brand portfolio across segments and geographies (As of December 31, 2018) Argentina Brazil Chile Paraguay SSDs1 Juices and other NCBs1 Water Beer Spirit Beverages2 Source: Company filings and public releases 1 SSDs: Sparkling Soft Drinks; NCBs: Non‐Carbonated Beverages 11 3 The complete
Slide 13: 3. Financial Highlights
3. Financial Highlights Agenda Page [CLIENT NAME]
Slide 14: Track record of profitability, Adj. EBITDA growth, diversification and cash generation
Track record of profitability, Adj. EBITDA growth, diversification and strong cash generation Sales volume (million UCs) Revenues (CLP$ mm) 1 Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay CAGR ‐2.5% 830.6 819.9 1,797,200 1,877,394 1,848,878 778.9 756.2 750.6 1,777,459 1,672,916 221
Slide 15: Solid Financial Position
Solid Financial Position Financial Debt (CLP$ mm) Financial Debt Summary (CLP$ mm) as of December, 2018 Short Term Financial Debt Long Term Financial Debt Banks Bonds Total Ch$mm 51,687 720,992 772,679 810,019 827,517 786,371 743,749 772,679 % 6.7% 93.3% 100% 712,239 Note: Banks includes: Bank, Leas
Slide 16: Solid Financial Position
Solid Financial Position Financial Ratios (I) Financial Ratios (II) Net Financial Debt / Adj. EBITDA Financial Debt/Equity Ratio (1) Net Financial Debt (2) /Equity Ratio Net Financial Debt / Adj. EBITDA (w/o MtM CCS) (3) Debt Coverage Ratio (4) 2.2 1.0 1.9 1.9 1.9 0.9 0.9 0.9 2.3 1.8 0.9 0.8 2.0 1.7
Slide 17: Consolidated Financial Highlights (Billion Ch$)
Consolidated Financial Highlights (Billion Ch$) 2012P 2013 2013P 2014 2015 2016 2017 1Q17 1Q18 2Q17 2Q18 3Q17 3Q18 4Q17 4Q18 Total Volume (million UCs) 749 763 826 831 820 779 756 202 204 161 165 172 168 221 214 Net Sales 1,477 1,522 1,640 1,797 1,877 1,777 1,849 501 476 405 374 418 345 524 481 Oper
Slide 18: Consolidated Financial Highlights (Million US$)
Consolidated Financial Highlights (Million US$) 2012P 2013 2013P 2014 2015 2016 2017 1Q17 1Q18 2Q17 2Q18 3Q17 3Q18 4Q17 4Q18 Total Volume (million UCs) 749 763 826 831 820 779 756 202 204 161 165 172 168 221 214 Net Sales 3,038 3,071 3,311 3,151 2,868 2,627 2,848 765 791 610 602 651 521 828 704 Oper
Slide 19: Consolidated Balance Sheet (as of December 31, 2018)
Consolidated Balance Sheet (as of December 31, 2018, in million USD and million CLP$) Million USD: Assets Liabilities and Equity Cash and Cash Equivalents 199 Current Financial Liabilities 63 Current Assets 494 Other Current Liabilities 541 Non current Assets + Others 2,326 Non-Current Financial Lia
Slide 20: Dividends and Market Cap (as of December 31, 2018)
Dividends and Market Cap (as of December 31, 2018) Dividend Distribution Market Cap (million CLP$) (billion USD) 4.2 3.4 3.3 2.7 2.5 85,476 75,537 67,586 52,081 53,671 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Dividend Yield* 2014 2015 2016 2017 2018 Series A 2.8% 3.7% 3.5% 3.3% 3.0% Series
Slide 21: 4. Strategy
4. Strategy Agenda Page [CLIENT NAME]
Slide 22: Expansion potential through organic and inorganic growth avenues
Expansion potential through organic and inorganic growth avenues Organic growth Inorganic growth Superior organic growth within the Key role in the consolidation process of the Coca‐Cola system Coca‐Cola system in Latin America Fuel growth in SSD business Inorganic expansion in line with TCCC go
Slide 23: Appendix
Appendix Gtii6lg »NDINA
Slide 24: Argentina: Main Financial Highlights (Local Currency)
Argentina: Main Financial Highlights (Local Currency (million)) 2012P 2013 2014 2015 2016 2017 1Q17 1Q18 2Q17 2Q18 3Q17 3Q18 4Q17 4Q18 Sales Volume (million UCs) 200 224 229 234 219 211 57 60 44 43 47 46 63 54 Net Sales 3,690 4,898 6,541 8,903 11,343 14,203 3,582 4,578 2,849 3,576 4,682 4,329 6,766
Slide 25: Argentina: Main Financial Highlights (Local Currency)
Argentina: Main Financial Highlights (Local Currency (million)) 2012P 2013 2014 2015 2016 2017 1Q17 1Q18 2Q17 2Q18 3Q17 3Q18 4Q17 4Q18 Sales Volume (million UCs) 200 224 229 234 219 211 57 60 44 43 47 46 63 54 Net Sales 3,690 4,898 6,541 8,903 11,343 14,203 3,582 4,578 2,849 3,576 3,293 4,118 4,479
Slide 26: Brazil: Main Financial Highlights (Local Currency)
Brazil: Main Financial Highlights (Local Currency (million)) 2012P 2013 2013P 2014 2015 2016 2017 1Q17 1Q18 2Q17 2Q18 3Q17 3Q18 4Q17 4Q18 Sales Volume (million UCs) 253 243 305 306 291 266 249 64 65 56 56 57 56 72 72 Net Sales 2,030 2,142 2,657 2,959 3,059 3,037 2,976 791 809 665 683 676 668 844 901
Slide 27: Chile: Main Financial Highlights (Local Currency)
Chile: Main Financial Highlights (Local Currency (million)) 2012P 2013 2014 2015 2016 2017 1Q17 1Q18 2Q17 2Q18 3Q17 3Q18 4Q17 4Q18 Sales Volume (million UCs) 233 235 232 234 232 231 65 62 47 50 52 52 67 68 Net Sales 475,824 477,918 492,072 514,733 540,427 551,873 151,295 147,712 118,298 126,227 123,
Slide 28: Paraguay: Main Financial Highlights (Local Currency)
Paraguay: Main Financial Highlights (Local Currency (million)) 2013 2014 2015 2016 2017 1Q17 1Q18 2Q17 2Q18 3Q17 3Q18 4Q17 4Q18 Sales Volume (million UCs) 61 63 61 62 65 17 18 13 16 16 15 19 19 Net Sales 968,523 1,010,735 1,033,215 1,107,678 1,227,001 309,472 353,045 249,978 313,475 309,705 292,767
Slide 29: 4Q18 Corporate Presentation
Agenda Page 4Q18 [CLIENT NAME] Corporate Presentation 4Q18