Vina Concha y Toro S.A. · BCS:CONCHATORO
Vina Concha y Toro — FY2014 Earnings Presentation
29 slides from Vina Concha y Toro's earnings presentation, Apr 1, 2015
Slide 1: Investor Presentation – 4Q14 & 12M14 Results
Investor Presentation – 4Q14 & 12M14 Results April 1, 2015
Slide 2: 4Q & 12M 2014 Results
4Q & 12M 2014 Results
Slide 3: Highlights: 4Q 2014 vs 4Q 2013
Highlights: 4Q 2014 vs 4Q 2013 Higher performance in sales, growth of 27.5% in value and 11.6% in volume. EBITDA Margin: 15.6%. Premiumization of exports sales, growth of 17.6% volume in 2014. Leading position in Chilean bottled exports. Concha y Toro became the 4th winery in commercialized volume d
Slide 4: Performance 4Q 2014
Performance 4Q 2014 Consolidated Sales Consolidated Operating Income (million Ch$) (million Ch$) +27.5% +56.1% Consolidated EBITDA Consolidated Net Profit (million Ch$) (million Ch$) +42.4% +21.8% 4
Slide 5: Sales Variation by Origin 4Q 2014
Sales Variation by Origin 4Q 2014 (Million Ch$) (Thousand liters) 5
Slide 6: Consolidated Sales 12M2014
Consolidated Sales 12M2014 Consolidated Sales (million Ch$) Consolidated Volume (million 9 liter cases, Wine) 6
Slide 7: Sales Variation by Origin 12M 2014
Sales Variation by Origin 12M 2014 (Million Ch$) (Thousand liters) 7
Slide 8: Export Sales 12M2014
Export Sales 12M2014 Export Sales Export Volume (million Ch$) (thousand 9 liter cases) Average Export Price Premium Wines Export Volume (US$ / 9 liter Case) +1.7% (thousand 9 liter cases) +17.6% 8
Slide 9: Leading Position Over Chilean Exports
Leading Position Over Chilean Exports CyT Exports of Bottled Wine Chilean Destination of Bottled Exports 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% 2014** 32.
Slide 10: Leading Position Over Chilean Exports
Leading Position Over Chilean Exports Share over chilean Rank Growth % Part of CyT in total Rank CyT over Country bottled exports 2014 2014/2013 chilean bottled exports Chilean Exports (volume) 1 USA 13.4% -1.6% 39.2% 1 2 United Kingdom 12.7% -16.1% 39.2% 1 3 Japan 9.8% 17.9% 28.8% 1 4 Brazil 7.6% 1
Slide 11: Concha y Toro Export Growth by Region
Concha y Toro Export Growth by Region Mix of Export Sales % Change Volume Region 2011 2012 2013 2014 2011 2012 2013 2014 U.K. 25.3% 26.8% 25.8% 27.6% -9.1% 8.5% -0.8% 16.9% Continental Europe 18.5% 18.2% 18.6% 16.9% -7.0% 1.0% 4.0% -0.2% Nordics (SWE, FIN, NOR) 4.8% 4.9% 5.1% 5.8% -5.2% 6.0% 5.7% 25
Slide 12: Domestic Market - Chile
Domestic Market - Chile Domestic Market – Wine Sales Domestic Market – Wine Volume (million Ch$) (Thousand Liters) +4.8% CAGR: -0.1% +5.9% Premium Wine Growth % Premium/ % Premium/ (Thousand Liters) Year Total Volume Total Value 2006 3.1% 13.0% 2007 2.7% 13.2% 2008 3.1% 15.2% 2009 3.5% 16.3% 2010 4.
Slide 13: Sales Disclosure 12M2014
Sales Disclosure 12M2014 Sales Breakdown by Origin Sales Breakdown by Currency Currency Mix 12M14 12M13 CLP 18.7% 20.5% USD 35.0% 35.7% GBP 19.7% 17.4% EUR 10.5% 9.9% CAD 2.8% 2.8% ARG 0.8% 1.3% SEK 2.9% 2.7% NOK 0.8% 0.9% BRL 6.3% 6.0% • Export Markets include exports to third parties and distribut
Slide 14: Distribution Subsidiaries: Driving the Growth
Distribution Subsidiaries: Driving the Growth 14
Slide 15: Consolidated EBITDA 12M2014
Consolidated EBITDA 12M2014 Consolidated EBITDA CAGR: 11.4% (million Ch$) Consolidated Mg. EBITDA (% of Sales) 15
Slide 16: Consolidated Net Profit 12M2014
Consolidated Net Profit 12M2014 Consolidated Net Profit (million Ch$) +29.8% 16
Slide 17: Financial Position
Financial Position
Slide 18: Conservative Capital Structure (As of Dec-14)
Conservative Capital Structure (As of Dec-14) Financial Debt / Equity Total Liabilities / Equity 1,4(*) Net Financial Debt / EBITDA (1) EBITDA (1)/ Financial Expenses(1) 2,5(**) Liabilities: Current Liabilities + Non Current Liabilities Financial Debt: Other current financial liabilities + Other non
Slide 19: Financial Debt
Financial Debt Financial Debt* as of: Dec-14 Dec-13 Ch$ MM Av. Interest rate Ch$ MM Av. Interest rate USD 131,496 3.03% 134,679 3.10% EUR 0 0.00% 0 0.00% GBP 0 0.00% 2,859 1.49% CLP 33,582 5.05% 0 0.00% UF 66,493 3.46% 80,898 3.74% ARS 5,384 23.68% 6,884 16.39% BRL 5,707 12.79% 7,907 11.63% MXN 1,91
Slide 20: Financial Debt
Financial Debt Financial Debt by Currency As of December 31, 2014 (1) Source: The Company (1) Considers current and non current financial liabilities excluding derivatives 20
Slide 21: Financial Debt
Financial Debt Expected Maturity Date(1), as of December 31, 2014 (Million Ch$) 84* Source: The Company (1) Considers current and non current financial liabilities excluding derivatives * EBITDA, Last 12 Months (as of December 2014) 21
Slide 22: Investor Presentation – 4Q14 & 12M14 Results
Investor Presentation – 4Q14 & 12M14 Results April 1, 2015
Slide 23: Exhibits
Exhibits
Slide 24: Sales 4Q2014 & 12M2014
Sales 4Q2014 & 12M2014 Change Change Total Sales⁽*⁾ (in Ch$ million) 4Q14 4Q13 12M 2014 12M 2013 (%) (%) Chile Domestic Market - wine 15,210 15,024 1.2% 59,981 57,233 4.8% Chile Domestic Market - new business 11,770 9,546 23.3% 41,645 31,955 30.3% Export markets⁽¹⁾ 124,536 93,369 33.4% 396,185 306,5
Slide 25: Chilean Domestic Market - Wine
Chilean Domestic Market - Wine Market Share – Domestic Market (Volume) 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Concha y Toro 27.1 28.6 30.0 29.7 31.5 30.7 30.4 29.6 28.5 27.1 Santa Rita 24.4 25.5 27.9 28.7 28.9 29.4 29.1 28.0 29.5 30.9 San Pedro 21.7 21.9 21.8 23.0 22.5 24.4 24.6 26.7 27.3
Slide 26: Performance 4Q & 12M 2014
Performance 4Q & 12M 2014 Income Statement 4Q14 4Q13 Change % 12M14 12M13 Change % Sales (Ch$ million) $ 177,700 $ 139,333 27.5% $ 583,313 $ 475,622 22.6% Exports * (Ch$ million) $ 129,633 $ 98,180 32.0% $ 417,442 $ 325,200 28.4% Exports * (US$ million) $ 219 $ 196 11.3% $ 728 $ 654 11.4% % Exports
Slide 27: Significant shift in Chilean bulk wine price curve
Significant shift in Chilean bulk wine price curve Chilean Bulk Wine Price (Cabernet Sauvignon, Maule Valley) Source: ODEPA 27
Slide 28: Chilean Harvest Through the Years
Chilean Harvest Through the Years Historical Harvest Volume (Million Liters) Source: SAG 28
Slide 29: Investor Presentation – 4Q14 & 12M14 Results
Investor Presentation – 4Q14 & 12M14 Results April 1, 2015