Grupo Bimbo Sab De Cv Class A · BMV:BIMBO/A
Grupo Bimbo Sab De Cv Class A — Q4 2011 Earnings Presentation
27 slides from Grupo Bimbo Sab De Cv Class A's earnings presentation, February 2012
Slide 1: To nourish, delight and serve our world
To nourish, delight and serve our world Alimentar, deleitar y servir a nuestro mundo Alimentar, deliciar e servir a nosso mundo TST, Tare Ss Bel Tey FR Empresa altamente productiva y plenamente humana AQ 2011
Slide 2: Grupo Bimbo
Grupo Bimbo Leading Global Bakery Company Strong Brand & Broad Product Portfolio Grupo Bimbo (“GB”) is one of the largest bakeries in the Over 8,000 products and more than 100 renowned world and one of the largest packaged food players with brands of a wide variety of baked goods, salted snacks,
Slide 3: Broad Asset Base
Broad Asset Base Company Structure Control Group1 Float 76% 24% Central & 2 United States Mexico Europe Asia South America Plants Routes Countries POS3 Associates 156 +50,000 19 +2 million +127,000 1. Control Group: Shareholdings of founders, their families and management 2. Asia’s results are inclu
Slide 4: Leader in Core Product Categories in Key Markets
Leader in Core Product Categories in Key Markets Revenue Mix 2 (US$10.7Bn) United States Leader nationwide LatAm Iberia #1 in premium brands 14% 0% #1 in English muffins #1 portfolio of Hispanic Mexico brands1 46% Strong regional brands U.S. 40% Current Mix Portugal & Spain as of #1 in p
Slide 5: Accelerated International Expansion
Successful Growth Case Acquisitions Have Been a Key Component Driving Growth Successful growth story through a combination of organic growth, strategic acquisitions 2011 combined with a conservative financial policy Accelerated International Expansion Acquisitions have been a strong driver of grow
Slide 6: Key Success Drivers
Key Success Drivers One of the Long Run Player Innovation Leading Baked in a & Goods Company Very Attractive and Brand Equity Deep Consumer in the World Non-Cyclical Understanding Industry Over the last decade GB shifted from a strong local player to a leader in the Americas Strong Financial Experie
Slide 7: Leading Baked Goods Company in a Very Attractive and Non-Cyclical Industry
Leading Baked Goods Company in a Very Attractive and Non-Cyclical Industry 1 LTM Revenues in US$Bn Attractive Resilience to economic downturns 12,921 + Industry Non-discretionary consumer 2,171 10,329 products + Fundamentals High consumption frequency 10,750 8,121 2,773 2,770 1,732 Highly fr
Slide 8: Strong Brand Equity along with Innovation & Deep Consumer Understanding
Strong Brand Equity along with Innovation & Deep Consumer Understanding Extraordinary Consumer Awareness of Brands Grupo Bimbo has built an unrivaled international portfolio of brands fueled by first class innovation Strong track record of creating, Innovation is a key determinant to achieve nur
Slide 9: Exceptional Distribution Network
Exceptional Distribution Network World Class Manufacturing Unparallel Distribution Network GB operates 156 production facilities GB‟s DSD1 network is one of the largest fleets in the Americas and represents a major Unmatched network of facilities with latest competitive advantage with a signif
Slide 10: Experienced Management Team and Strong Corporate Governance
Experienced Management Team and Strong Corporate Governance Board of Directors Management Audit Corporate Compensation Finance & Positioned the Company as market leader in Committee Practices & Benefits Planning the products and countries where present (5 independent Committee Committee Committee
Slide 11: Strong Financial Performance…
Strong Financial Performance… Revenue Growth (1) EBITDA Growth (1) (US$ in millions) (US$ in millions) EBITDA Margin 10,750 1,173 1,224 1,220 9,274 8,629 7,375 880 6,615 791 5,835 712 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011 Iberia Latin America U.S. GB 12.2% 12.0% 11.9% 13.6% 13.
Slide 12: Strong Financial Performance…
Strong Financial Performance… Best-in-Class Execution + Resilient Industry = Financial Stability Over Time EBIT Margin EBITDA Margin Gross Margin Δ% 170% Wheat prices 28% -22% -15% -6% -12% 19% -14% 27% 7% -12% 14% 32% 79% -31% -15% 59% -15% 60.0 $US/bushel 90 4.0 5.1 4.0 3.4 3.1 2.8 3.3 2.8 3.6 3.8
Slide 13: …and Responsible Financial Management
…and Responsible Financial Management Highlights Leverage 1 Flexible and healthy capital structure Total Debt/EBITDA 3 Secured US$ 1.3 billion syndicated loan (April 2011)- Refinanced #REF! Net Debt/ EBITDA 3.3x 3.1x debt and partly funded Sara Lee‟s acquisition 2.4x Term- out of US$800 million
Slide 14: …and Responsible Financial Management (pro forma February 12)
…and Responsible Financial Management (pro forma February 2012) Grupo Bimbo issued: January 2012: US$800 million of 4.50% notes due 2022 under the Reg-S Rule February 2012: Ps 5,000 million Certificados Bursátiles (domestic bonds) at a fixed rate of 6.83% with a 6.5 year tenor Amortization Sched
Slide 15: Strong Corporate Identity
Strong Corporate Identity Grupo Bimbo ranks among the 20 most respected companies in the world (1) Its reputation is built on a strong corporate identity and brand equity Key component of Grupo Bimbo‟s corporate identity is its company-wide Social Responsibility Program Corporate Social Respon
Slide 16: Why Grupo Bimbo? "We Believe and We Create"
Why Grupo Bimbo? “We Believe and We Create” + 111% + 40% IPC Value BIMBO 2006 2011 vs - 2% DJI Stock Price 13.5 28.47 - 11% SPX Mexico IPC (Prices & Quotations Index), Strongly positioned in Local Sustainability Index and others. & International Indexes International MSCI Consistency and focus on Gr
Slide 17: Why Grupo Bimbo?
Why Grupo Bimbo? Total Debt / EBITDA 3.3x (computed in US$) 2.8x 2.5x 2.4x 2.2x 1.8x 1.5x Successful deleveraging 0.9x 1.1x 1.2x 1.1x 0.9x 0.7x history 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Strong investment grade S&P Moody’s Fitch BBB | Baa2 | BBB credit metrics MxAA+ | Aa1.mx
Slide 18: Financials by Region & Recent Acquisitions
Financials by Region & Recent Acquisitions
Slide 19: GB - Quarterly Highlights
GB - Quarterly Highlights Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) 14.1% (MXN$ in millions) 14.5% 13.2% 13.2% 133,732 12.6% 12.5% 36.8% 117,163 13.0% 11.0% 11.3% 41,624 10.9% 10.4% 9.0% 15,468 15,173 4.1% 3.5% 32,314 4,596 4,207 29,561 30,233 3,218 3,153 30,431 3,572 3,602 4,292 4,0
Slide 20: Mexico – Quarterly Highlights
Mexico – Quarterly Highlights Revenue Growth (Mexico) EBITDA Growth (Mexico) (MXN$ in millions) (MXN$ in millions) 11.2% 19.6% 18.6% 16.6% 18.8% 64,368 57,870 14.0% 14.1% 17.0% 14.5% 15.2% 9.0% 14.0% 7.2% 12.9% 9,628 11.8% 9,808 17,256 16,461 15,328 15,323 3,242 2,790 15,075 1,972 2,684 2,957 14,300
Slide 21: USA - Quarterly Highlights
USA - Quarterly Highlights Revenue Growth (USA) EBITDA Growth (USA) (MXN$ in millions) 12.4% (MXN$ in millions) 53,810 11.8% 11.9% • Sara Lee acquisition: 32.0% 11.4% 47,875 10.9% • Contribution from IO´s: 14.3% 59.5% • Organic Growth: 13.2% 11.6% 10.7% 10.9% (9.9% FX effect) 8.4% 9.8% 5,276 19,255
Slide 22: OLA - Quarterly Highlights
OLA - Quarterly Highlights Revenue Growth (OLA) EBITDA Growth (OLA) (MXN$ in millions) (MXN$ in millions) 30.7% 25.6% Organic growth: 28.5% 18,568 6.4% 6.3% 14,207 5.4% 4.6% 44.6% 1.1% 24.1% 13.9% 20.3% 1.6% 2.6% 0.8% 1.1% -0.2% 657 5,784 4,639 201 3,943 4,202 3,999 207 231 120 3,240 3,297 3,672 62
Slide 23: Recent Acquisitions - Sara Lee North American Fresh Bakery
Recent Acquisitions - Each transaction is driven by strong strategic rationale and business case, resulting in significant value creation Sara Lee North American Fresh Bakery - Earthgrains Acquired for an all-cash purchase price of US$709 million (Initial value: US$959 million), which includes US$
Slide 24: Recent Acquisitions - Sara Lee Spain and Portugal, Fargo
Recent Acquisitions - Each transaction is driven by strong strategic rationale and business case, resulting in significant value creation Sara Lee Spain and Portugal Fargo Brands Acquired for an all-cash purchase price of This acquisition will further strengthen €115 million Grupo Bimbo‟s region
Slide 25: Grupo Bimbo Today
Grupo Bimbo Today (a) (b) (c) Pro Forma(d) Pro Forma including synergies Net revenues (US$ mm) 9,901 2,036 395 12,332 EBITDA (US$ mm) 1,206 78 24 1,308 1,458 Margin 12.2% 3.8% 5.9% 10.6% 11.8% Routes +44,800 +4,700 +800 +50,300 Plants 107 41 7 155 Associates 111,300 +13,000 +1,900 126,200 __________
Slide 26: Thank you!
Thank you! Lodeaaagade
Slide 27: Forward-looking statements
During this presentation, we have made statements about the Company‟s future plans and prospects that constitute forward- looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various factors and undue reliance should not be