Coca-Cola Icecek A.S. · BIST:CCOLA
Coca-Cola Icecek A.S — Q2 2008 Earnings Presentation
15 slides from Coca-Cola Icecek A.S's earnings presentation, Aug 27, 2008
Slide 1: Results for the quarter ending June 30, 2008
Results for the quarter ending June 30, 2008 August 27, 2008 Istanbul Michael A. O’Neill – CEO Burak Başarır - CFO
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements including, but not limited to, statements regarding Coca-Cola İçecek’s (“CCI”) plans, objectives, expectations and intentions and other statements that are not historical facts. Forward-looking statements can generally
Slide 3: Volume up by 11% in 1H08
Volume up by 11 % in 1H08 Turkey Volume International Volume Consolidated Volume (Unit cases in millions) (Unit cases in millions) (Unit cases in millions) % 11 % 242 11 218 195 175 9% 48 44 1H07 1H08 1H07 1H08 1H07 1H08 2Q08 3
Slide 4: Net sales up by 18% in 1H08
Net sales up by 18% in 1H08 Turkey Net Sales International Net Sales Consolidated Net Sales (CMB - YTL in millions) (CMB – US$ in millions) (CMB - YTL in millions) % 18 % 1,056 21 1Q08 892 890 % 19 735 136 115 1H07 1H08 1H07 1H08 1H07 1H08 2Q08 4
Slide 5: EBITDA up by 27% in 1H08
EBITDA up by 27% in 1H08 Turkey International EBITDA Consolidated EBITDA (CMB - YTL in millions) (CMB – US$ in millions) (CMB - YTL in millions) % 27 6% 192 31Q07 1Q08 168 1% 152 123 20 20 16.8% 18.9% 17.0% 14.5% 17.1% 18.2% 1H07 1H08 1H07 1H08 1H07 1H08 2Q08 5
Slide 6: Turkey – 1H08
Turkey – 1H08 In 1H08, Coca-Cola Zero, Fanta and Euro2008 contributed to Sparkling Beverages category growth Still beverages product portfolio was expanded with new Cappy flavors Volume growth normalised in 2Q08 and we maintain our volume guidance for the full year 6
Slide 7: International Operations – 1H08
International Operations – 1H08 Softer growth rates in Central Asia region Middle East region performed well Coca-Cola Zero was launched in Jordan and Syria in April Coca-Cola 500 ml PET Grip Bottle and Riwa water brand were launched in Kazakhstan and Syria respectively, in May Greenfield investment
Slide 8: Recent Developments
Recent Developments Acquisition of Coca-Cola Beverages Pakistan Ltd. up to 50% Acquisition of 50% of Doğadan from The Coca -Cola Company Establishment of a Corporate Governance Committee 8
Slide 9: Financial Review
Financial Review Burak Başarır CFO
Slide 10: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation YTL/$ Consolidated / Turkey International Exchange Rates Functional Currency YTL USD December 31, 2007 1.1647 Reporting Currency YTL USD June 30, 2008 1.2237 Net Sales – Net of discounts and special consumption tax for Turkish operations Year
Slide 11: Key Financials
Key Financials (TRYm) 1H08 1H07 ‘08 vs. ‘07 Volume (m u/c) 242.2 217.9 +11.2% Net Sales 1,055.5 891.6 +18.4% Gross Profit 446.2 365.7 +22.0% Gross Profit % 42.3% 41.0% EBIT 135.6 105.5 +28.5% EBIT % 12.9% 11.8% EBITDA 192.4 152.1 +26.5% EBITDA % 18.2% 17.1% Net Income 76.9 64.5 +19.2% Non-cash F/X l
Slide 12: Key Financials
Key Financials (TRYm) June 30, December 31, June 30, December 31, Assets Liabilities &Equity 2008 2007 2008 2007 Cash & cash Short-term debt 112.9 147.8 126.7 219.3 equivalents Accounts rec.& due Accounts payable & due to 336.0 156.0 175.2 123.4 from related parties related parties Provisions & othe
Slide 13: 2008 Guidance
2008 Guidance We maintain our sales volume, net revenue and EBITDA guidance: • Turkey Volume – High Single Digit to Low Double Digit • International Volume – Low to Mid Teens • Revenue Growth exceeding Volume Growth • EBITDA Growth exceeding Revenue Growth 2008 performance will be supported by: • Ef
Slide 14: Closing Remarks
Closing Remarks
Slide 15: Thank You
Q&A Session Thank You For further information on Coca-Cola İçecek please visit our website at: www.cci.com.tr or contact our Investor Relations Department CCI-IR@cci.com.tr