Grupo Bimbo Sab De Cv Class A · BMV:BIMBO/A
Grupo Bimbo Sab De Cv Class A — Investor Presentation (February 2013)
29 slides from Grupo Bimbo Sab De Cv Class A's investor presentation, February 2013
Slide 1: Investor Presentation 4Q12
Investor Presentation 4Q12 1
Slide 2: Grupo Bimbo
Grupo Bimbo Global leader in baking and one of the largest packaged food players 2012 sales: USD $13.2 Bn1 2012 EBITDA: USD $1.1 Bn1 Presence in 19 countries +10,000 products and +100 brands Categories: packaged bread, salted snacks, confectionary, tortillas and packaged food Market Cap of USD $12.2
Slide 3: Broad Asset Base
Broad Asset Base Control Group Float 126,000 associates 76% 24% 154 plants Central & Mexico USA Iberia Asia1 +2.2 MM South America POS +51,000 routes 1. Asia’s results are included in Mexico Page 3
Slide 4: Globally Present, Locally Committed
Globally Present, Locally Committed LTM Revenue Breakdown (US$13.2 Bn)2 Iberia Portugal & Spain 3% United States LatAm #1 in packaged baked Leader nationwide 13% goods #1 in premium brands Mexico Leading brands in sweet #1 in English muffins 38% baked goods and snack #1 portfolio of Hisp
Slide 5: Accelerated International Expansion
Successful Growth Case Strict 2011 Strategic Reinvestment Focus Accelerated International Expansion 2009 Sustainable Growth 00s Solid 90s Balance … 80s Sheet 70s Successful growth story through a combination 60s of organic growth, strategic acquisitions 50s combined with a conservative financial pol
Slide 6: Key Success Drivers
Key Success Drivers Long Run Player Innovation Dedication in a Very & to Bakery Attractive and Brand Equity Deep Consumer Industry Non-Cyclical Understanding Industry Over the last decade GB shifted from a strong local player to a leader in the Americas Experienced Socially & Responsible Management
Slide 7: Leading Player in an Attractive Non-Cyclical Industry
Leading Player in an Attractive Non- Cyclical Industry 1 LTM Revenues in US$MM Attractive High Non- Resilient 13,163 industry consumption discretionary 10,505 Industry frequency products Fundamentals 8,121 3,047 1,776 2 Key success Innovation & Strong Distribution, sca Packaged Bread Penetration pro
Slide 8: Strong Brand Equity and Deep Consumer Understanding
Strong Brand Equity and Deep Consumer Understanding Taking innovative products Broad portfolio around the world Every meal, every occasion, every Extraordinary Deep consumer group Brand consumer Awareness understanding Products that 6 R&D have changed Institutes the Keep up with Leadership in core i
Slide 9: Exceptional Distribution Network and Manufacturing Facilities
Exceptional Distribution Network and Manufacturing Facilities +51,000 Unique expertise in moving routes high volume products On of the largest fleets Attuned distribution Access to in the Americas model for Low cost unmatched each channel manufacturing technological equipment 9 Page 9
Slide 10: Seasoned Management Team, Sound Governance & Strong Corporate Identity
Seasoned Management Team, Sound Governance & Strong Corporate Identity Roberto Servitje Positioned the company as the market leader Chairman of the Board Proven track record of stability and growth Seasoned Successfully integrated 38 acquisition over Audit & Corporate Compensation & Finance & Planni
Slide 11: Strong Financial Performance
Strong Financial Performance Revenue Growth1 EBITDA Growth1 (US$ in millions) (US$ in millions) EBITDA Margin 13,163 10,732 9,270 1,172 1,224 1,150 1,072 8,609 7,392 883 6,615 791 -7 -23 2007 2008 2009 2010 2011 2012 2007 2008 2009 2010 2011 2012 Latin America U.S. Mexico GB 12.0% 11.9% 13.6% 13.2%
Slide 12: Financial Stability
Financial Stability EBIT % EBITDA % Gross % Commodities Commodities/ Integration 56.2 56.7 54.8 53.3 53.1 53.7 53.3 53.0 54.0 53.4 52.8 52.8 52.8 51.2 51.1 51.0 50.7 48.6 47.9 13 13.5 13.8 13.7 14.1 13.6 12.8 12.2 12.0 13.6 13.2 12.3 11.9 10.7 10.3 11.1 10.7 9.5 8.1 9.7 9.7 9.9 10.3 9.7 10.4 9.7 9.3
Slide 13: Responsible Financial Policies
Responsible Financial Policies Flexible Capital Structure Leverage3 Total Debt/EBITDA 1 3.3x 3.3x #REF! Net Debt/ EBITDA 3.0x Rapid deleveraging: target <2x 2.4x 2.2x 3.0x 2.7x 1.5x 2.0x 1.2x 1.1x 1.9x 0.8x 0.9x 0.6x 0.7x Investment grade ratings: 0.4x 0.2x 0.4x Baa2/BBB/BBB (Moody’s/Fitch/S&P) 2004
Slide 14: Responsible Financial Management
Responsible Financial Management Amortization Schedule1 Average Life: 5.9 years Total Debt: US$3,037 mm Av. Financing Cost: 4.5% Jan 2012: 198 85 800 800 US$800mm of 4.5% due 2022 384 384 384 under Reg-S Rule 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Current undrawn Local Bonds Syndicated Lo
Slide 15: Building a Sustainable Future
Building a Sustainable Future We understand there is no conflict in doing good and doing well Wind farm in Mexico 10K families WHO and SSA Energy consumption supported by guidelines down 11m kWh +127K associates in “Fundar” 19 countries Trans fats removed Water consumption 65K indigenous from 99.5%
Slide 16: Looking Ahead
Looking Ahead
Slide 17: A Transitional Year
A Transitional Year Synergistic Transaction Long Term Vision- Do It Right One time costs are necessary to IT Efficient operation with value capture synergies (US$200mm) Leadership Manufacturing creation to consumers Growth 1. Cost Distribution Strong CF generation S&A EFICIENCY Industry Transformati
Slide 18: Time to Invest
Time to Invest Our Strong Cash Flow Generation Backs our Investment Plan Investments are clearly focused on productivity US synergies- reconfigure manufacturing print Streamline manufacturing capabilities Low- Cost LatAm- Build scale and market penetration Producer Next couple of years…CAPEX around
Slide 19: Time to deleverage
Time to deleverage Total Debt/ EBITDA 3.3x1 3.3x 3.0x 2.5x 2.2x 1.9x 1.5x 2.3x 1.1x 1.2x 1.1x 0.9x 0.7x 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Weston West Weston East Sara Lee 1.Pro forma con la adquisición de Weston Foods 2011 and 2012 in IFRS Page 19
Slide 20: Why Grupo Bimbo?
5 year return in USD1 Why Grupo Bimbo? +8.4% +43.8% +116.5% 1 Long-term value creation -12.6% 2 Strongly positioned in local & International indexes 3 Focused on our core business 4 Cash flow stability 5 Successful deleveraging and solid investment grade ratings 6 Strong & continuous reinvestment 7
Slide 21: Annex: Financial Results by Region & Recent Acquisitions
Annex: Financial Results by Region & Recent Acquisitions 21
Slide 22: Grupo Bimbo - Quarterly Results 2012
Grupo Bimbo - Quarterly Results 2012 Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 29.7% 12.2% 10.5% 9.4% 10.6% 10.7% 173,137 8.9% 8.1% 34.9% 8.6% 9.0% 14,310 6,800 43.6% 7.7% 39.1% 133,506 7.1% 45,276 43,318 43,515 10,1084,082 41,028 41,579 3,9513,755 3,106 3,354 2,90
Slide 23: Mexico - Quarterly Results
Mexico- Quarterly Results Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 9.5% 15.4% 18.1% 14.2% 70,491 12.2% 11.3% 13.7% 17.9% 11.5% 64,368 14.6% 7.9% 5.5% 13.8% 10.9% 10.7% 9,715 9,139 17,769 18,209 17,435 17,078 16,461 17,256 3,304 15,328 15,323 3,083 1,928 2,541 2,58
Slide 24: USA - Quarterly Results
USA- Quarterly Results Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 46.7% 78,927 11.0% 10.8% 10.8% 6.2% 9.6% 65.3% 7.4% 62.1% 80.2% 53, 809 6.4% 7.2% 7.2% 6.4% 20,076 19,913 20,447 4.7% 17,861 19,255 5,163 5,070 11,492 12,045 11,017 1,207 838 1,242 1,482 1,295 1,275 1
Slide 25: OLA - Quarterly Results
OLA- Quarterly Results Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 23.5% 4.4% 1.8% 4.9% 22,674 1.3% 0.5% 0.6% 41.5% 34.1% 22.0% 0.1% 18,362 242 -1.1% 6,041 -1.1% -1.1% 5,493 5,544 5,596 5,759 3 81 77 117 26 4,588 3,882 4,133 -44 -62 -253 -461 -7.6% 1Q 2Q 3Q 4Q 12M 1Q
Slide 26: Recent Acquisitions
Recent Acquisitions Sara Lee North American Fresh Bakery - Earthgrains Synergies(d) Pro Forma(b) Acquired for an all-cash purchase price of US$709 million (Initial value: US$959 million), which includes US$34 million in assumed liabilities Net revenues (US$ mm) 3,701 2,036 5,737 EBITDA (US$ mm) 40
Slide 27: Recent Acquisitions
Recent Acquisitions Sara Lee Spain and Portugal Fargo Brands Acquired for an all-cash purchase price of €115 million This acquisition will further strengthen Grupo Bimbo’s regional profile and growth strategy in Latin America Entry to sizeable market through established brand leader Market l
Slide 28: Thank you
Thank you Page 28
Slide 29: Disclaimer
The information contained herein has been prepared by Grupo Bimbo, S.A.B. de C.V. (the “Company") solely for use at investors´ presentations. The information herein is only a summary and does not purport to be complete. This material has been prepared solely for informational purposes and should not