Coca-cola Icecek A.s. · BIST:CCOLA
Coca-cola Icecek A.s — FY2023 Earnings Presentation
18 slides from Coca-cola Icecek A.s's earnings presentation, 2024
Slide 1: FY2023 Results
FY2023 Results 2023 RESULTS 1 PUBLIC
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: Important Disclaimer
Important Disclaimer In accordance with the decree of the Capital Markets Board, our 2023 financials are reported using TAS29 (Financial Reporting in Hyperinflationary Economies). The financial statements and all comparative amounts for previous periods have been adjusted according to the changes in
Slide 4: Quality Growth Algorithm Delivered
Nov 1, 2023 Quality Growth Algorithm Delivered EBIT > Revenue > Transaction > Volume Highlights Solid topline growth Mix Improvement On Track Robust Profitability • Double digit volume growth in Central Asia & • 129 bps y/y increase in IC share in • 214bps y/y gross profit margin Iraq, while Turkiye
Slide 5: Consolidated Volume
Consolidated Volume Positive category mix with the help of strong energy and adult premium, despite sparkling being impacted by macroeconomic challenges Growth is led by categories and channels that are of strategic value to CCI Sparkling Stills & Water Immediate Consumption Share y/y y/y y/y -3.3%
Slide 6: Türkiye
Türkiye 37% Share of Volume in Total CCI Solid NSR/uc growth and EBITDA margin expansion thanks to effective revenue growth management, despite challenges in volume generation 2023 Volume Net EBITDA Performance Sales (exc.other) Sparkling m UC Revenue m TL Robust growth in -7.5% Schweppes y/y m TL +
Slide 7: International
International 63% Share of Volume in Total CCI Smart mix management, proactive hedging and delicate pricing enabled Quality Growth 2023 Volume Net EBITDA Performance Sales (exc.other) Sparkling m UC Revenue m TL Robust growth in Fanta, -1.4% y/y m TL Schweppes -3.3% y/y +2.8% y/y Stills -1.1% y/y Mo
Slide 8: Largest International Markets
Volume Share in Largest Volume CCI (y/y) • Cycling a solid 16.0% growth International • 72 bps on-premise channel 13% +2.4% share improvement Markets • Market share maintained despite volume softness Kazakhstan Volume • Solid growth in all Share in categories CCI Volume (y/y) • 185 bps on-premise sh
Slide 9: Financial Review
FINANCIAL REVIEW 2023 RESULTS 9 PUBLIC
Slide 10: 2023 Summary Financials
2023 Summary Financials Improving profitability in a challenging environment Net Sales Gross EBIT Net Revenue (TL) Profit (TL) (TL) Income (TL) 101.0 BILLION 33.0 BILLION 14.5 BILLION 20.6 BILLION +8.4% y/y +16.0% y/y +26.2% y/y +48.3% y/y TL NSR/uc growth of 11.4%, 214 bps y/y expansion in FY 201 b
Slide 11: Per UC Metrics
Nov 1, 2023 Per UC Metrics Improving profitability in a Quality Growth Achieved with Effective RGM, Frugal Opex Management & Hedges environment Consolidated (TL) - TL, with TAS 29 Net Sales Revenue COGS EBIT per UC per UC per UC 65.8 59.1 44.3 9.4 41.0 7.3 2022 2023 2022 2023 2022 2023 +11.4% y/y +7
Slide 12: Positive Business Momentum and Strong Pricing
Positive Business Momentum and Strong Pricing Mitigate Cost Presures % EBIT Development +26.2 y/y (mTL) +3 billion EBIT Margin 892 14.3% 5,128 12.3% 10,581 1,560 14,475 11,474 2022 Revenue Growth 2023 Volume(*) COGS OpEx EBIT Management EBIT (*) Volume & Mix impact is calculated based on Gross Profi
Slide 13: Understanding Impact of TAS 29
Understanding Impact of TAS 29 2023 Guidance delivered Income Statement (TL) Selected Balance Sheet Items (TL) FY23 FY23 FY23 FY23 without TAS29 with TAS29 without TAS29 with TAS29 ₺ Net Sales Revenue 91.0 101.0 Trade Receivables 8.8 8.8 billion billion (TL) 12.2 13.0 ₺ +70.0% +8.4% Inventories y/y
Slide 14: Disciplined Financial Management
Disciplined Financial Management Low leverage and strong liquidity maintained Debt & Cash Gross Debt Cash Net Debt Composition / EBITDA Other 5% Other TRY 21% 30% 1,1x 0,8x $1.2B USD $752M 0,6x USD EUR 55% 63% 11% 0,4x TRY 15% 20 21 22 23 FX Position 179 Debt $566m $507m -892 Maturity 304 47% 42% 34
Slide 15: Dynamic Hedging - 2024
Nov 1, 2023 Dynamic Hedging - 2024 Securing long term visibility & controlled cost base COGS Breakdown Proactive Risk Management Policy Hedging & Pre-buy Rates Cost of Sales Sugar Aluminium Resin 20% OVERHEAD 2024 20% SUGAR 70%* 70% 86% 30% PACKAGING 30% CONCENTRATE *100%, in markets where financial
Slide 16: Closing Remarks
CLOSING REMARKS 2023 RESULTS 16 PUBLIC
Slide 17: Bangladesh: Full of Potential
Bangladesh: Favorable Demographics and Macros* Full of Potential 20% population growth Real GDP CAGR 2023 - 28 Median Age 28 vs 34 EM average 5-year population CAGR forecast 6,7% 1.0% in BG vs 0.7% of EM 500 600 4,0% ** Urbanization is 40% in BG – room 100 to grow, given 57% of world CCI BG NEW CCI
Slide 18: FY'23 Webcast Presentation
FY’23 Webcast Presentation For more information, please contact cci-ir@cci.com.tr. 2023 RESULTS 18 PUBLIC