Grupo Bimbo Sab De Cv Class A · BMV:BIMBO/A

Grupo Bimbo Sab De Cv Class A — Investor Presentation (December 2009)

26 slides from Grupo Bimbo Sab De Cv Class A's investor presentation, December 2009

  1. Slide 1: Grupo Bimbo December 2009

    M@X\Gruro ®z/GIMBO; December 2009

  2. Slide 2: Grupo Bimbo Today

    Grupo Bimbo Today ƒ A global leader in the baking industry ƒ Strong market share and brand recognition ƒ Well diversified regional and brand portfolio ƒ Solid and strong cash flow generation ƒ Profitability and returns above industry average ƒ Experienced and committed management team ƒ LTM Revenues

  3. Slide 3: Broad Regional Profile

    Broad Regional Profile Largest baker in the Americas ƒ Presence in 18 countries ƒ Robust product portfolio ƒ 150+ brands 34 plants ƒ 5,000+ SKUs Czech Republic ƒ Product categories (packaged): sliced bread, sweet baked goods, snack cakes, cookies, crackers, bagels, English 39 plants muffins, salty s

  4. Slide 4: Grupo Bimbo's Structure

    Grupo Bimbo’s Structure Market diversification enhances upside potential MEXICO UNITED STATES CENTRAL & SOUTH #1 in packaged baked goods Leader nationwide AMERICA #2 in cookies and crackers #1 in premium breads #1 in packaged baked goods in 13 countries #2 in salty snacks #1 in English muffins #2 in

  5. Slide 5: Grupo Bimbo's Mix

    Grupo Bimbo’s Mix NET SALES: US$ 8.0 billion LTM EBITDA: US$1.0 billion LTM (12.9% margin) Current Mix U.S. Mexico U.S. 32% 49% 39% Mexico 61% Latam Latam 7% 12% NET SALES: US$ 8.7 billion LTM PF EBITDA: US$1.1 billion LTM PF (12.7% margin) Pro-Forma Mix U.S. U.S. Mexico 44% 37% 45% Mexico 57% Latam

  6. Slide 6: Mexican Operations

    Mexican Operations MXP MM 2007 2008 LTM Net Sales $54,176 $57,790 $56,090 ƒ Leader in sliced bread % change 7.2% 6.7% -2.0% ƒ Leader in sweet baked goods EBITDA $8,119 $8,981 $8,775 ƒ Second player in cookies and crackers % net sales 15.0% 15.5% 15.6% ƒ Second player in salty snacks Plants 39 ƒ Seco

  7. Slide 7: U.S. Operations (BBU)

    U.S. Operations (BBU) BBU’s Bread Share* IBC Flowers 7% BBU Foods USD MM 2007 2008 LTM LTM PF 24% 8% Net Sales $1,516 $1,617 $3,155 $3,767 Sara Lee 10% % change 8.6% 6.7% 96.4% 134.5% Private EBITDA $51 $49 $338 $409 Others Label 29% 22% % net sales 3.4% 3.0% 10.7% 10.9% BBU’s Cake Share* Plants 13

  8. Slide 8: Latin American Operations

    Latin American Operations MXP MM 2007 2008 LTM Average penetration of packaged bread is 5% Net Sales $8,282 $11,955 $13,078 35% % change 37.4% 44.3% 15.8% 28% EBITDA $648 $889 $959 19% 19% 16% 16% % net sales 7.8% 7.4% 7.3% 12% 9% 4% 4% Plants 25 3% 3% 2% Honduras Costa Rica Chile Colombia El Salvad

  9. Slide 9: Historical Performance

    Historical Performance

  10. Slide 10: Sustained Growth and EBITDA Generation

    Sustained Growth and EBITDA Generation ƒ Net sales growth exceeding GDP and population growth ƒ Aggressive product innovation ƒ Solid margins in the domestic operations ƒ International operations showing consistent improvement since 2004 ƒ Stability throughout economic cycle Net Sales EBITDA (MXP Mi

  11. Slide 11: Despite Significant Pressures…

    Despite Significant Pressures… Raw Material Costs Greater Expense Efficiency 48.9 47.8 47.0 47.2 46.2 46.7 46.6 46.0 44.9 44.7 44.2 44.0 42.1 42.2 LTM LTM 2003 2004 2005 2006 2007 2008 2003 2004 2005 2006 2007 2008 COGS as % of net sales SG&A as % of net sales 9 LTM price increases in almost all reg

  12. Slide 12: Solid Profitability Levels

    Solid Profitability Levels 40.0 56.7 60 56.2 54.8 53.3 53.7 53.3 54.0 53.4 35.0 53.1 53.0 52.8 52.255 51.2 51.1 48.6 47.9 30.0 50 25.0 45 20.0 40 13.0 13.5 13.8 13.7 14.1 13.6 15.0 12.3 12.8 12.2 12.935 12.0 11.9 10.7 10.3 11.1 9.5 10.0 30 9.9 10.3 9.7 9.9 9.7 9.3 9.7 9.3 9.2 8.9 8.9 8.2 8.0 5.0 7.0

  13. Slide 13: Mexico

    Mexico ƒ Sales growth deceleration as a result of the ongoing challenging environment and 3Q unexpected warm, dry weather – mainly affecting baking volumes ƒ COGS benefiting from lower commodity prices and a more stable FX rate ƒ Increased advertising and promotional expense in order to boost consum

  14. Slide 14: United States

    United States ƒ Steady top line performance benefiting from innovation and new product launches ƒ Leverage of the national footprint to better serve national accounts ƒ More efficient cost structure derived from the incorporation of BBU East, easing of commodity and energy prices, higher manufacturi

  15. Slide 15: Latin America

    Latin America ƒ Double-digit top line growth for the last 4 years, driven by: ƒ Expansion of the product portfolio ƒ Continued penetration of the traditional channel ƒ Bolt-on acquisitions ƒ Brazil sales growth and profitability benefiting from the restructuring efforts underway in 2009 ƒ COGS being

  16. Slide 16: Third Quarter 2009 Results

    Third Quarter 2009 Results

  17. Slide 17: 3Q09 Results

    3Q09 Results ƒ Incorporation of BBU East benefiting sales and profitability performance ƒ Sluggish economic environment and consumers searching for value ƒ Lower commodity prices and more stable exchange rates in Mexico and some countries in LatAm ƒ Increased productivity, mainly in manufacturing ƒ

  18. Slide 18: Financial Structure

    Financial Structure

  19. Slide 19: Total Debt Breakdown

    Total Debt Breakdown 1,598 2,694 740 56 300 ** Local Bonds - 02 Revolver Facility Local Bonds - 09 Long-term Debt Total Financial Ratios GB 2008 GB 2008 PF GB LTM 2009 Debt / EBITDA* 1.1x 3.3x 2.5x Interest Coverage 11.8x 4.1x 6.0x * Ratio calculated with Debt and EBITDA in Mexican pesos, according

  20. Slide 20: Amortization Schedule

    Amortization Schedule 618 984 370 409 370 300 205 56 2010 2011 2012 2013 2014 2015 2016 Local Bonds - 02 Revolver Facility Long-Term Debt Local Bonds - 09 Bridge Loan Currency Mix Interest Rates Mix Fixed Floating Pesos Dollars Rate Rate 62% 38% 51% 49% Figures in millions of U.S. dollars FX: 13.504

  21. Slide 21: Pro-Forma Performance: Deleveraging Impact

    Pro-Forma Performance: Deleveraging Impact Total Debt Total Debt / EBITDA (US$ Millions) 3,122 4.0 2,747 2,351 3.0 1,865 2.0 1,433 Fx: 16.0 922 1.0 Fx: 14.0 0.0 2008 2009 2010 2011 2012 2013 2008 PF 2009 2010 2011 2012 2013 Pro-forma FX. 14.00 20

  22. Slide 22: Ratings

    Ratings Before WFI Acquisition After WFI Acquisition Outlook Fitch National Scale: AAA(mex) National Scale:AA Stable Moody’s Global Scale: Baa1 Global Scale: Baa2 Negative National Scale: Aaa.mx National Scale: Aa2.mx S&P Global Scale: BBB+ Global Scale: BBB Negative National Scale: mxAAA National S

  23. Slide 23: BIMBO's Stock Performance

    BIMBO’s Stock Performance BIMBO P$ 84.51 $90 35,000 Bimbo LTM $80 +34.2% 30,000 $70 25,000 $60 IPC LTM 20,000 $50 +58.5% $40 15,000 $30 10,000 $20 5,000 $10 $0 0 July Jul Jul Jul Jul Jul Jul Jul Ene-02 Ene-03 Ene-04 Ene-05 Ene-06 Ene-07 Ene-08 Ene-09 Oct Oct Oct Oct Oct Oct Abr Abr Abr Abr Abr Abr A

  24. Slide 24: Grupo Bimbo's Focus Will Remain on Execution

    Grupo Bimbo’s Focus Will Remain on Execution ƒ Orderly integration ƒ Capture of commercial and operating synergies ƒ Cross-border best practices ƒ Continue delivering value to consumers ƒ Consolidate our operation in current markets ƒ Strict financial discipline and flexibility 23

  25. Slide 25: Disclaimer

    The information contained in this presentation (the “Presentation”) has been prepared by Grupo Bimbo S.A.B. de C.V. (“Grupo Bimbo”). While the information contained the Presentation has been prepared in good faith, no representation or warranty, express of implied, is or will be made and no responsi

  26. Slide 26: For more information

    For more information: Armando Giner Tel: (5255) 5268-6924 aginer@grupobimbo.com Andrea Amozurrutia Tel: (5255) 5268-6962 aamozurrutia@grupobimbo.com Fabiola Medina Tel: (5255) 5268-6552 fmedina@grupobimbo.com www.grupobimbo.com 25

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