Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Q3 2013 Earnings Presentation
35 slides from Embotelladora Andina SA's earnings presentation, 2013
Slide 1: 3Q13 Corporate Presentation
3Q13 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: Ownership
Ownership (December 31, 2012) Controlling Group 50.3% 55.3% 45.3% Series A Series B Others 24.1% Coca-Cola 14.7% ADRs 6.3% Chilean Pension Funds 4.7% 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 5: Consolidated Overview
Consolidated Overview (December 31, 2012) REVENUES EBITDA (million USD) (million USD) CAGR 12.7% 2,411 CAGR 9.1% 415.1 427.7 2,239 2,031 365.1 359.3 375.9 1,742 1,716 303.7 277.2 1,323 1,405 2008 2009 2010 2010P 2011 2011 P 2012 2008 2009 2010 2010P 2011 2011 P 2012 Includes Vital Jugos Does not inc
Slide 6: Summary
Summary (December 31, 2012) Ciudad del Este, Asunción, Coronel Oviedo, Rio de Janeiro & Espirito Santo Encarnación Extension: 90 thousand Km2 Extension: 407 thousand Km2 Population: 17.6 million Population: 6.7 million Total volume: 225.1 million UCs Total volume: 63.1 million UCs (FY12) Paraguay Br
Slide 7: Regional Diversification
Regional Diversification (December 31, 2012) As Reported: AKO FY12+KOP 4Q12 Argentina 28% Argentina 20% Argentina 27% Brazil 38% Brazil 38% Brazil 38% Chile 31% Chile 39% Chile 32% Paraguay 3% Paraguay 3% Paraguay 3% Total Volume Total Revenues EBITDA 596 million unit 2.4 billion USD 428 million USD
Slide 8: 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 9: Argentina
Argentina We operate 3 production facilities, 1 located in Córdoba with 9 lines and an average utilization capacity during 2012 of 58.7%; 1 located in Bahía Blanca (Province of Buenos Santa Fe Aires) with 4 lines and an average utilization capacity during 2012 of 55.6%; 1 located in San Juan Chubut
Slide 10: Argentina
Argentina Market Structure (AKOFY12 +KOP 4Q12) Format Mix – Soft Drinks Market Share Soft drinks 59.1% Non-Returnables 52% Total 39.6% Returnables 47% Juices & Others 19.2% Multi Serving 89% Post Mix 1% Waters 10.6% Single Serving 11% Volume Mix Channel Mix – Soft Drinks Per Capita Consumption (8 oz
Slide 11: Argentina
Argentina Brand Portfolio Soft drinks Juices & Others Waters 11
Slide 12: Argentina
Argentina Volume Growth (MUCs) 12.0 Total Volume CAGR 6.2% 8.7 11.6 6.7 1.9 3.0 Juices, Waters & Others CAGR 44.6% 10.5 10.3 9.6 9.8 Diet Soft Drinks CAGR 2.4% Regular Soft Drinks CAGR 5.2% 141.7 119.1 109.9 108.3 108.6 2008 2009 2010 2011 2012 (AKO+KOP 4Q) 12
Slide 13: Argentina
Argentina Financial Highlights (Nominal MUSD) IFRS 2009 2010 2011 2011 P 2012 1Q12 1Q12P 1Q13 2Q12 2Q12P 2Q13 3Q12 3Q12P 3Q13 Sales Volume (MUC) 120.9 125.2 138.4 151.3 167.0 41.6 53.5 56.6 31.6 41.3 47.6 34.5 45.7 52.4 Net Sales 311.8 363.2 479.9 549.3 648.4 156.0 217.4 227.8 122.2 170.8 190.9 134.
Slide 14: 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 15: Brazil
Brazil We operate 2 production facilities located in Jacarepaguá in the State of Rio de Janeiro and in Vitoria in the State of Espírito Santo with a total of 13 lines. Espirito Santo Average utilization capacity for the year 2011 was 75%. The company has 5 Distribution Centers for its products carri
Slide 16: Brazil
Brazil Market Structure (Year 2012) Format Mix – Soft Drinks Market Share1 Soft drinks 59.1% Non-Returnables 88% Total 54.0% Multi Serving 75% Returnables 9% Juices & Others 48.2% Single Serving 25% Waters 12.5% Post Mix 3% Volume Mix1 Channel Mix – Soft Drinks Per Capita Consumption1 (8 oz. bottles
Slide 17: Brazil
Brazil Brand Portfolio Beer Soft drinks Juices & Others Waters 17
Slide 18: Brazil
Brazil Volume Growth (MUCs) (December 31, 2012) 26.9 Total Volume 21.6 15.5 CAGR 5.3% 11.6 16.7 10.5 19.2 17.7 20.5 Juices, Waters & Others CAGR 20.7% 22.5 Diet Soft Drinks CAGR -5.8% Regular Soft Drinks CAGR 5.2% 181.5 167.8 165.8 153.1 141.0 2008 2009 2010 2011 2012 18
Slide 19: Brazil
Brazil Financial Highlights (MUSD) IFRS 2009 2010 2011 2012 1Q12 1Q13 2Q12 2Q13 3Q12 3Q13 Sales Volume (MUC) 185.3 202.5 205.1 225.0 57.2 57.4 50.6 48.8 52.3 50.3 Net Sales 606.9 799.3 921.0 928.6 254.1 252.6 201.8 211.7 214.6 201.8 Operating Income 107.2 141.6 132.4 132.9 46.6 39.4 19.0 21.9 28.9 2
Slide 20: 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 21: Chile
Chile Tocopilla Calama We operate 4 production facilities, 1 in Antofagasta with 6 lines; 1 in Coquimbo Antofagasta with 3 lines; 1 in Renca (Metropolitan Region) with 9 lines; and 1 in Punta Arenas with 2 lines. Average utilization capacity for 2012 was 46%, 61%, 69% and 34% Taltal respectively. Co
Slide 22: Chile
Chile Market Structure (Year 2012 (AKOFY12 +KOP 4Q12) Format Mix – Soft Drinks Market Share Soft drinks 69.5% Returnables 59% Total 61.3% Multi Serving 82% Non-Returnables 37% Waters 41.7% Single Serving 18% Juices & Others 36.4% Post Mix 4% Volume Mix Channel Mix – Soft Drinks Per Capita Consumptio
Slide 23: Chile
Chile Brand Portfolio Soft drinks Juices & Others Waters 23
Slide 24: Chile
Chile Volume Growth (December 31, 2012) (AKOFY12 +KOP 4Q12) 31.0 Total Volume CAGR 4.3% 23.0 20.0 16.8 17.9 Juices, Waters & Others CAGR 13.0% 27.3 23.4 24.5 Diet Soft Drinks CAGR 3.6% 22.9 23.0 Regular Soft Drinks CAGR 2.8% 120.2 104.7 105.1 109.2 110.4 2008 2009 2010 2011 2012 (AKO + KOP 4Q) 24
Slide 25: Chile
Chile Financial Highlights (MUSD) ( IFRS 2009 2010 2010P 2011 2011 P 2012 1Q12 1Q12P 1Q13 2Q12 2Q12P 2Q13 3Q12 3Q12P 3Q13 Sales Volume (MUC) 152.4 161.5 152.6 158.0 174.7 185.4 44.9 63.2 59.5 36.2 51.0 52.1 37.1 52.5 54.2 Net Sales 488.1 579.5 553.3 630.2 700.8 770.8 182.3 257.4 255.6 148.3 212.4 22
Slide 26: 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 27: Paraguay
Paraguay We operate 1 production facility located in Asunción with a total of 7 lines for soft drinks, 2 tetra lines and 2 blowing lines. Average utilization capacity for the year 2012 was 84%. The company has 3 Distribution Centers for its products carried out through third party distributing compa
Slide 28: Paraguay
Paraguay Market Structure (FY 2012*) Format Mix – Soft Drinks Market Share Soft drinks 61.6% Non-Returnables 53% Total 57.9% Multi Serving 79% Returnables 46% Waters 56.2% Single Serving 21% Juices & Others 33.7% Post Mix 1% Volume Mix Channel Mix – Soft Drinks Per Capita Consumption (8 oz. bottles)
Slide 29: Paraguay
Paraguay Brand Portfolio Soft drinks Juices & Others Waters 29
Slide 30: Paraguay
Paraguay Volume Growth (MUCs) (December 31, 2012) 7.3 5.7 Total Volume CAGR 6.1% 2.7 4.2 4.4 1.9 3.9 1.4 Juices, Waters & Others CAGR 39.1% 4.3 Diet Soft Drinks CAGR -1.3% 4.7 Regular Soft Drinks CAGR 4.7% 50.3 51.3 48.6 40.8 42.4 2008 2009 2010 2011 2012 30 *Paraguay was previously owned by Embotel
Slide 31: Paraguay
Paraguay Financial Highlights (MUSD) IFRS 2011 2012 1Q12 1Q13 2Q12 2Q13 3Q12 3Q13 Sales Volume (MUC) 60.2 63.1 17.2 16.1 13.2 13.5 14.2 13.6 Net Sales 213.6 219.7 57.6 62.7 45.0 50.7 50.8 48.9 Operating Income 40.5 22.5 7.2 7.1 3.8 3.3 2.0 4.6 Operating Margin 19.0% 10.2% 12.4% 11.3% 8.4% 6.5% 3.9%
Slide 32: Consolidated Financial Highlights
Consolidated Financial Highlights (MUSD) IFRS 2009 2010 2010P 2011 2011 P 2012 1Q12 1Q12P 1Q13 2Q12 2Q12P 2Q13 3Q12 3Q12P 3Q13 Total Volume (MUCs) 458.6 489.2 480.3 501.5 549.1 596.2 143.8 191.2 189.6 118.4 156.1 161.9 123.9 150.5 170.5 Net Sales 1,404.6 1,742.0 1,715.8 2,031.1 2,238.5 2,410.5 592.4
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet (3Q 2013) (Million USD) Cash & Cash Equivalents 224 Current Financial Liabilities 154 Current Assets 551 Other Current Liabilities 558 Non current Assets + Others 2,363 Non-Current Financial Liabilities 566 Goodwill 124 Other Non-Current Liabilities 265 Total Equity 1,719
Slide 34: Dividends and Market Cap
Dividends and Market Cap (as of Sept 30, 2013) Dividend Distribution Market Cap (million USD) (billion USD) 5.31 146 146 4.58 129 101 3.42 2.99 49 2.36 2009 2010 2011 2012 2013 2009 2010 2011 2012 sep-13 Total dividends paid out since 2000 = US$1.5 billion Dividend Yield 34
Slide 35: Visit our Website
Visit our Website www.koandina.com 35