Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Q3 2014 Earnings Presentation
34 slides from Embotelladora Andina SA's earnings presentation, 2014
Slide 1: 3Q14 Corporate Presentation
3Q14 Corporate Presentation
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements made in this presentation that could relate to Andina’s future performance or financial results are forward-looking statements and are based upon currently available data; however, actual results are subject to numerous uncertainties, many of which are beyond th
Slide 3: History
History Merger with KO Polar (incorporation of new territories in Argentina, Coca-Cola System Chile & Paraguay). Andina Andina listed on joint venture (50/50) Andina buys 40% becomes the the NYSE. for the water and stake in Sorocaba Coca-Cola Franchise TCCC acquires juice business in Refrescos. bott
Slide 4: Summary
Summary (December 31, 2013) Ciudad del Este, Asunción, Coronel Oviedo, Rio de Janeiro, Espirito Santo Part of São Paulo and Encarnación part of Minas Gerais Extension: 407 thousand Km2 Extension: 165 thousand Km2 Population: 6.8 million Population: 22 million Total volume: 61.2 million UCs Total vol
Slide 5: Regional Diversification
Regional Diversification (As of Sept, 2014) Argentina 27% Argentina 24% Argentina 16% Brazil 37% Brazil 41% Brazil 39% Chile 28% Chile 28% Chile 33% Paraguay 7% Paraguay 7% Paraguay 12% Total Volume Total Revenues EBITDA 591 million unit cases 2,243 million 342 million USD USD 5
Slide 6: Ownership
Ownership (December 31, 2013) Controlling Group 50.5% 55.7% 45.3% Series A Series B Others 24.8% Coca-Cola 14.7% ADRs 6.6% Chilean Pension Funds 3.4% The Controlling Group is composed of 5 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. Series A elects 12
Slide 7: Argentina
Argentina In Argentina the Company has a License Agreement with The Coca-Cola Company for the sale of concentrates and beverage basis for certain Coca-Cola soft drinks and non-soft drink beverages. In accordance with the agreement we have the right to produce and distribute Coca-Cola soft drinks in
Slide 8: Argentina
Argentina We operate 3 production facilities, 1 located in Córdoba with 10 lines and an average utilization capacity during 2013 of 54.3%; 1 located in Bahía Blanca (Province of Buenos Aires) with 3 lines Santa Fe and an average utilization capacity during 2013 of 53.5%; 1 located in Trelew (Provinc
Slide 9: Argentina: Market Structure
Argentina Market Structure Format Mix – Soft Drinks Market Share Soft drink 60.2% Non-Returnables 55% Juices & Others 20.1% Returnables 45% Multi Serving 91% Post Mix 1% Waters 12.1% Single Serving 9% Volume Mix Channel Mix – Soft Drinks Per Capita Consumption (8 oz. bottles) Mom & Pops 45% Total 38
Slide 10: Argentina: Brand Portfolio
Argentina Brand Portfolio Soft drinks Juices & Others Waters 10
Slide 11: Argentina: Volume Growth
Argentina Volume Growth* (MUCs) 224.4 167.0 Total Volume 138.3 CAGR 13.2% 120.9 125.2 2009 2010 2011 2012 2013 Soft Drinks CAGR 11.2% Juices and Others CAGR 35.8% Waters CAGR 60.3% 11 * Figures as reported each year. Consolidation with Embotelladoras Coca-Cola Polar is effective as of 4Q12
Slide 12: Argentina: Financial Highlights
Argentina Financial Highlights (Nominal MUSD) IFRS 2009 2010 2011 2011 P 2012 2012P 2013 1Q13 1Q14 2Q13 2Q14 3Q13 3Q14 Sales Volume (MUC) 120.9 125.2 138.4 151.3 167.0 199.5 224.4 56.6 61.6 47.6 46.7 52.4 53.2 Net Sales 311.8 363.2 479.9 549.3 648.4 815.1 890.5 227.8 199.4 190.9 158.0 207.6 190.4 Op
Slide 13: Brazil
Brazil In Brazil the Company has a License Agreeement with The Coca-Cola Company for the sale of concentrates and beverage basis for certain Coca-Cola soft drinks and non-soft drink beverages. In accordance with the agreement we have the right to produce and distribute Coca-Cola soft drinks in our f
Slide 14: Brazil
Brazil We operate 3 production facilities located in Jacarepaguá in the State of Rio de Janeiro, in Vitoria in the State of Espírito Santo and in Riberão Preto in the State of São Paulo, with a total of 13 lines. Average utilization capacity for the year 2013 was 79%. The company has 10 Distribution
Slide 15: Brazil: Market Structure
Brazil Market Structure Format Mix – Soft Drinks Market Share1 Soft drinks 59.1% Non-Returnables 87% Returnables 11% Multi Serving 73% Juices & Others 48.2% Post Mix 2% Single Serving 27% Waters 12.5% Volume Mix1 Channel Mix – Soft Drinks Per Capita Consumption1 (8 oz. bottles) Supermarkets 32% Tota
Slide 16: Brazil: Brand Portfolio
Brazil Brand Portfolio Beer Soft drinks Juices & Others Waters 16
Slide 17: Brazil: Volume Growth
Brazil Volume Growth* (MUCs) 225.0 242.6 202.5 205.1 185.3 Total Volume CAGR 5.5% 2009 2010 2011 2012 2013 Soft Drinks CAGR 3.4% Juices and Others CAGR 20.1% Waters CAGR 19.0% 17 * Figures as reported each year. Consolidation with Ipiranga is effective as of 4Q13
Slide 18: Brazil: Financial Highlights
Brazil Financial Highlights (MUSD) IFRS 2009 2010 2011 2012 2012 P 2013 1Q13 1Q13P 1Q14 2Q13 2Q13P 2Q14 3Q13 3Q13P 3Q14 Sales Volume (MUC) 185.3 202.5 205.1 225.0 252.7 242.6 57.4 79.0 80.3 48.8 68.3 70.3 50.3 71.9 68.5 Net Sales 606.9 799.3 921.0 928.6 1,031.4 992.7 252.6 337.9 319.9 211.7 290.2 29
Slide 19: Chile
Chile In Chile the Company has a License Agreeement with The Coca-Cola Company for the sale of concentrates and beverage basis for certain Coca-Cola soft drinks and non-soft drink beverages. In accordance with the agreement we have the right to produce and distribute Coca-Cola soft drinks in our fra
Slide 20: Chile
Chile We operate 4 production facilities: Antofagasta with 4 lines and 21 MMUC annual capacity; Coquimbo with 3 lines and 19 MMUC annual capacity; Renca (Metropolitan Region) with 10 lines and 164 MMUC annual capacity; Punta Tocopilla Calama Arenas with 2 lines and 11 MMUC annual capacity. Average c
Slide 21: Chile: Market Structure
Chile Market Structure Format Mix – Soft Drinks Market Share Soft drinks 68% Returnables 54% Multi Serving 82% Waters 45% Non-Returnables 42% Single Serving 15% Juices & Others 35% Post Mix 3% Volume Mix Channel Mix – Soft Drinks Per Capita Consumption (8 oz. bottles) Total 550 Soft drinks 74% Mom &
Slide 22: Chile: Brand Portfolio
Chile Brand Portfolio Soft drinks Juices & Others Waters 22
Slide 23: Chile: Volume Growth
Chile Volume Growth* (MUCs) 234.7 185.4 Total Volume 161.5 157.8 CAGR 9.0% 152.4 2009 2010 2011 2012 2013 Soft Drinks CAGR 6.4% Juices and Others CAGR 13.2% Waters CAGR 29.9% 23 * Figures as reported each year. Consolidation with Embotelladoras Coca-Cola Polar is effective as of 4Q12
Slide 24: Chile: Financial Highlights
Chile Financial Highlights IFRS 2009 2010 2010P 2011 2011 P 2012 2012P 2013 1Q13 1Q14 2Q13 2Q14 3Q13 3Q14 Sales Volume (MUC) 152.4 161.5 152.6 158.0 174.7 185.4 233.1 234.7 59.5 63.4 52.0 50.5 54.2 52.4 Net Sales 488.1 579.5 553.3 630.2 700.8 770.8 978.4 964.5 255.6 234.1 220.4 196.1 218.5 195.7 Ope
Slide 25: Paraguay
Paraguay In Paraguay the Company has a License Agreement with The Coca-Cola Company for the sale of concentrates and beverage basis for certain Coca-Cola soft drinks and non-soft drink beverages. In accordance with the agreement we have the right to produce and distribute Coca-Cola soft drinks in ou
Slide 26: Paraguay
Paraguay We operate 1 production facility located in Asunción with a total of 8 lines for soft drinks, 3 tetra lines and 2 blowing lines. Average utilization capacity for the year 2013 was 77%. The company has 3 Distribution Centers for its products carried out through third party distributing compa
Slide 27: Paraguay: Market Structure
Paraguay Market Structure Format Mix – Soft Drinks Market Share Soft drinks 61% Non-Returnables 49% Multi Serving 83% Waters 57% Returnables 50% Single Serving 17% Juices & Others 37% Post Mix 1% Volume Mix Channel Mix – Soft Drinks Per Capita Consumption (8 oz. bottles) Mom & Pops 45% Total 214 Sof
Slide 28: Paraguay: Brand Portfolio
Paraguay Brand Portfolio Soft drinks Juices & Others Waters 28
Slide 29: Paraguay: Volume Growth
Paraguay Volume Growth* (MUCs) 63.4 61.2 60.2 55.2 48.6 Total Volume CAGR 4.7% 2009 2010 2011 2012 2013 Soft Drinks CAGR 2.8% Juices and Others CAGR 32.0% Waters CAGR 33.2% 29 *Paraguay was previously owned by Embotelladoras Coca-Cola Polar merged by absorption into Embotelladora Andina beginning 4Q
Slide 30: Paraguay: Financial Highlights
Paraguay Financial Highlights (Nominal MUSD) IFRS 2011 2012 2013 1Q13 1Q14 2Q13 2Q14 3Q13 3Q14 Sales Volume (MUC) 60.2 63.1 61.2 16.1 16.8 13.5 13.2 13.6 14.0 Net Sales 213.6 219.7 226.6 62.7 58.7 50.7 48.9 48.9 53.6 Operating Income 40.5 22.5 30.4 7.1 8.6 3.3 8.8 4.6 6.8 Operating Margin 19.0% 10.2
Slide 31: Consolidated Financial Highlights
Consolidated Financial Highlights (Nominal million USD) IFRS 2009 2010 2010P 2011 2011 P 2012 2012P 2013 1Q13 1Q13P 1Q14 2Q13 2Q13P 2Q14 3Q13 3Q13P 3Q14 Total Volume (MUCs) 458.6 489.2 480.3 501.5 549.1 596.2 748.7 763.0 189.6 211.2 222.1 161.9 181.4 180.6 170.5 192.2 188.1 Net Sales 1,404.6 1,742.0
Slide 32: Consolidated Balance Sheet as of 3Q14
Consolidated Balance Sheet as of 3Q14 Cash & Cash Equivalents 274 Current Financial Liabilities 182 Current Assets 578 Other Current Liabilities 433 Non current Assets + Others 2,867 Non-Current Financial Liabilities 1,257 Goodwill 227 Other Non-Current Liabilities 420 Total Equity 1,653 Total Asset
Slide 33: Dividends and Market Cap
Dividends and Market Cap (as of September, 2014) Dividend Distribution Market Cap (million USD) (billion USD) 5,31 146 146 139 129 3,85 3,42 70 2,99 2,82 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Total dividends paid out since 2000 = US$1.7 billion Dividend Yield 2009 2010 2011 2012 2013 Ser
Slide 34: Visit our Website
Visit our Website www.koandina.com 34