Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Investor Presentation (2011)
27 slides from Embotelladora Andina SA's investor presentation, 2011
Slide 1: Corporate Presentation 2011
Ai Fons (ZA Corporate Presentation 2011 Umbelladera Nudina
Slide 2: Forward-looking statements
Statements made in this presentation that could relate to Andina’s future performance or financial results res lts are forward-looking for ard looking statements and are based upon currently available data; however, actual results are subject to numerous uncertainties, many of which are beyond the c
Slide 3: Andina becomes the Coca-Cola bottler: company history
Significant Andina production and becomes the Andina listed Franchise NVG territories distribution Coca-Cola on the NYSE acquired in acquired in capacity bottler in Argentina Brazil expansion in the Chile three franchises 1946 1994 1995 & 1996 2000 2009 & 2010 1985 1994 1996 2007 & 2008 Controlling
Slide 4: Controlling Group of Chilean families and ownership structure
The Controlling Group is composed of 4 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. 22.6% Others 55 0% 55.0% Series A 48.7% 8.6% Controlling Chilean Pension 42.4% Group Funds Series B 11.0% Coca-Cola 9.1% ADRs Series A elects 6 of 7 Board members. Serie
Slide 5: Market cap, volume, revenues and EBITDA growth
Market Cap Total Volume1 480.3 (billion USD) 3.42 (million unit cases) 452.0 CAGR 4.8% 440.4 5 years 431.2 2.36 2.25 412.5 2.05 1.71 1.54 379.2 2005 2006 2007 2008 2009 2010 2005 2006 2007 2008 2009 2010 1Includes soft drinks, waters, juices and others sold only in Andina’s franchise Revenues EBITDA
Slide 6: Franchise territories: Brazil, Chile, Argentina
Rio de Janeiro & Espirito Santo Extension: 90 thousand Km2 Population: p 17.3 million Total volume: 202.5 million UCs Metropolitan Region, San Antonio & Cachapoal Brazil Extension: 24 thousand Km2 Population: 7.6 million 1 Total volume : 152.6 million UCs Chile Mendoza, San Juan, San Luis, Córdoba,
Slide 7: Volume, revenues and EBITDA by country
26% 21% 16% Argentina g 32% Argentina g 33% Argentina g 39% Chile Chile Chile 42% 46% 45% Brazil Brazil Brazil 1 Total Volume Total Revenues EBITDA 480 million unit cases 1.7 billion USD 365 million USD 1Includes soft drinks, waters, juices and others sold only in Andina’s franchise 7
Slide 8: Chile production facilities and distribution
N P • The Juice and Water production facilities are joint ventures with Embonor and Polar. • The Special Formats & Canning production facility is a joint venture with Embonor, Polar and Coca-Cola de Chile. • The New Plant will begin production in 3Q11, the current plant will shut down operations in
Slide 9: Chile format mix and channel mix
Soft Drinks Waters Juices Total Volume Mix 87% 6% 7% 100% Market Share 69.1% 35.6% 34.8% 62.0% Per Capita Consumption (8 oz. Bottles) 419 29 34 482 Format Mix – Soft Drinks Channel Mix – Soft Drinks 7% Wholesales 36% 17% Single-Serving 59% Non-Returnables 13% Mom & Pops On-Premise 61% Returnables 83
Slide 10: Gaseosas, Jugos & Otros, Aguas
Gaseosas Jugos & Otros Aguas 10
Slide 11: Chile total volume by category
Total Volume CAGR 2 2.2% 2% CAGR 8.6% 8 6% CAGR 11.1% 11 1% CAGR 4 4.0% 0% 5 years 5 years 5 years 5 years J i Juices, W Waters & O Others h 20.0 16.8 17.9 14.6 13.5 11.8 23.4 Diet Soft Drinks 22.9 23.0 18.0 24.5 15.5 100.9 104.7 105.1 109.2 Regular Soft Drinks 98.0 99.4 2005 2006 2007 2008 2009 201
Slide 12: Chile sales volume, net sales and operating income
Chilean GAAP IFRS* 2006 2007 2008 2009 2009 2010 1Q10 1Q11 2Q10 2Q11 3Q10 3Q11 Sales Volume (MUC) 143.7 151.3 158.5 145.9 145.9 152.6 39.3 40.1 33.0 33.5 34.8 36.4 Net Sales 403.9 482.6 424.4 537.1 488.1 579.5 137.0 158.8 115.4 138.0 127.0 148.5 Operating Income 97 1 114.7 97.1 114 7 91 0 91.0 109 6
Slide 13: Argentina plants and distribution
2 5 Soft Drinks Plants Distribution Centers 12 641 Lines Trucks 2,550 68 thousand Employees Clients 13
Slide 14: Argentina format mix and channel mix
Soft Drinks Waters Juices & Others Total1 Volume Mix 92.3% 2.8% 1.9% 100% Market Share 57.3% 7.0% 47.0% 52.8% Per Capita Consumption (8 oz. Bottles) 260 5 11 276 1 Without Beers Format Mix – Soft Drinks Channel Mix – Soft Drinks 24% 20% 85% 26% Wholesales Mom & Pops Non-Returnables Single-Serving 30
Slide 15: Soft Drinks, Juices & Others, Waters, Beers
Soft Drinks Juices & Others Waters Beers 15
Slide 16: Argentina total volume by category
Total Volume CAGR 5.0% CAGR 3.7% CAGR 20.9% CAGR 5.7% 5 years 5 years 5 years 5 years 15.5 11.7 Juices, Waters & Beer 9.9 10.5 7.1 Diet Soft Drinks 6.0 19.2 20.5 17.0 23.2 22.5 16.0 141.7 141.0 153.1 167.8 138.4 131.7 Regular Soft Drinks 2005 2006 2007 2008 2009 2010 16
Slide 17: Argentina sales volume and net sales
Chilean GAAP IFRS 2006 2007 2008 2009 2009 2010 1Q10 1Q11 2Q10 2Q11 3Q10 3Q11 Sales Volume (MUC) 162.6 174.7 174.0 185.3 185.3 202.5 53.4 53.7 43.4 44.9 46.3 47.9 Net Sales 411.2 543.4 582.5 615.1 606.9 799.3 210.5 245.7 166.0 210.6 180.4 221.5 Operating Income 64.3 96.6 96.5 112.4 107.2 141.6 46.2
Slide 18: Brazil plants and distribution
1 1 10 Soft Drinks Plant Juice Plant Distribution Centers 7 1 259 Lines Line Trucks 1,774 48 thousand Employees Clients 18
Slide 19: Brazil format mix and channel mix
Soft Drinks Waters Juices & Others Total Volume Mix 95% 4% 1% 100% Market Share 55.3% 8.0% 16.4% 41.2% Per Capita Consumption (8 oz. Bottles) 263 11 4 278 Format Mix – Soft Drinks Channel Mix – Soft Drinks 1% Post Mix 29% 50% Wholesales Mom & Pops 50% 10% Non-Returnables Single-Serving 49% Returnabl
Slide 20: Soft Drinks, Juices & Others, Waters
Soft Drinks Juices & Others Waters 20
Slide 21: Brazil total volume by category
Total Volume CAGR 3.0% 3 0% CAGR 12.1% 12 1% CAGR 38 38.8% 8% CAGR 4.6% 5 years 5 years 5 years 5 years 1.9 3.0 6.7 1.7 1.4 Juices Waters & Others Juices, 1.3 10.3 9.6 9.8 9.8 6.7 5.5 Diet Soft Drinks 103.8 109.9 108.6 108 3 108.3 100.8 93.7 Regular Soft Drinks 2005 2006 2007 2008 2009 2010 21
Slide 22: Brazil sales volume and net sales
Chilean GAAP IFRS 2006 2007 2008 2009 2009 2010 1Q10 1Q11 2Q10 2Q11 3Q10 3Q11 Sales Volume (MUC) 108.9 115.3 122.0 120.9 120.9 125.2 33.5 36.4 26.1 29.1 27.9 32.0 Net Sales 210.3 252.1 321.7 315.7 311.8 363.2 90.3 116.0 73.8 97.3 83.8 113.3 Operating Income 21.6 26.2 34.8 42.3 41.5 46.0 12.4 13.9 6.
Slide 23: Consolidated volume, net sales and operating income (USD)
Chilean GAAP IFRS 2006 2007 2008 2009 2009 2010 1Q10 1Q11 2Q10 2Q11 3Q10 3Q11 Total Volume (MUCs) 415.2 441.3 446.9 458.6 458.6 489.2 126.2 130.3 102.5 107.6 109.0 116.3 Net Sales 1,026.9 1,281.3 1,331.3 1,465.4 1,404.6 1,742.0 437.8 520.5 355.2 446.0 391.3 483.3 Operating Income 178.8 232.4 217.9 2
Slide 24: Consolidated results in local currency
Chilean GAAP IFRS 2006 2007 2008 2009 2009 2010 1Q10 1Q11 2Q10 2Q11 3Q10 3Q11 Total Volume (MUCs) 415.2 441.3 446.9 458.6 458.6 489.2 126.2 130.3 102.5 107.6 109.0 116.3 Net Sales 546,732 636,689 847,301 743,116 785,845 888,714 227,255 250,776 188,338 209,281 200,032 228,108 Operating Income 95,196
Slide 25: Balance sheet and net cash position
(Million USD) Cash & Cash Equivalents q 90 Current Financial Liabilities 40 Current Assets 287 Other Current Liabilities 247 Non current Assets + Others 832 Non-Current Financial Liabilities 136 Goodwill 112 Other Non-Current Liabilities 127 Total Equity 772 Total Assets 1,321 Total Liabilities & Eq
Slide 26: Total dividends paid since 2000 and dividend yield
146 150 151 139 123 130 110 2005 2006 2007 2008 2009 2010 2011 Total dividends paid out since 2000 = US$1.4 billion Dividend Yield 2005 2006 2007 2008 2009 2010 Series A 7.5% 8.2% 7.3% 7.2% 6.6% 6.0% Series B 8 2% 8.2% 8 5% 8.5% 7 4% 7.4% 7 3% 7.3% 6 0% 6.0% 5 4% 5.4% 26
Slide 27: Visit our Website
Visit our Website www.embotelladoraandina.com 27