Coca-Cola Icecek A.S. · BIST:CCOLA
Coca-Cola Icecek A.S — FY2012 Earnings Presentation
20 slides from Coca-Cola Icecek A.S's earnings presentation, Mar 18, 2013
Slide 1: 2012 Results
2012 Results March 18, 2012 Istanbul Damian Paul Gammell – CEO N. Orhun Köstem – CFO
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: 2012 Review
2012 Review Long-term guidance was delivered Double digit volume and revenue growth Substantial EBIT and EBITDA margin improvement Market share gains in key markets The acquisition in South Iraq completed Strong FCF before acquisitions 3
Slide 4: Volume up by 12% in 2012
Volume up by 12% in 2012 Turkey Volume International Volume Consolidated Volume (Unit cases in millions) (Unit cases in millions) (Unit cases in millions) 568.5 546.8 850.5 282.0 761.7 105.5 108.0 215.0 42.9 2011 2012 2011 2012 2011 2012 Consolidated up by 23.6% to 173.8 million uc 4Q12 Turkey up by
Slide 5: 2012 Sales Volume Breakdown
2012 Sales Volume Breakdown Volume split (uc) - Geography Volume split (uc) – Consolidated Tea 7.9% Int'l 33% Still 21.8% Turkey Sparkling 67% 70.3% 5
Slide 6: Turkey
Turkey All categories posted growth Sparkling category growth with focus on IC consumption Market share gains in sparkling and juice categories 6
Slide 7: International Operations
International Operations Strong growth in key markets Pakistan volume growth 23% Kazakhstan growth 32% Volume split (uc) – Int’l Azerbaijan growth 20% N.Iraq growth 45% Market share gains in Pakistan, Kazakhstan and Azerbaijan Iraq became the 2nd largest international operation 7
Slide 8: Product Launches in 2012
Product Launches in 2012 Still Sparkling Coke Zero Fanta Coca-Cola Fanta Can Ramadan Fruit Cappy Cappy Cappy Fanta Armyt Cappy Atom Piko Mors Pet 0.5L, 1L Pet 300 ml Pet 300 ml 200 ml Sherbet Sherbet Sourcherry Blackmulberry Fruitbeats Turkmenistan Turkey Kazakhstan Kyrgyzstan Turkey Turkey Turkey T
Slide 9: Net sales up by 21.2% in 2012
Net sales up by 21.2% in 2012 Turkey Net Turkey NetSales Sales International Net Sales Consolidated Net Sales (TL in millions) (US$ in millions) (TL in millions) 2,757.6 770.6 4,132.4 2,472.8 3,408.6 576.2 2011 2012 2011 2012 2011 2012 Consolidated up by 26.0% to TL 844.9 million 4Q12 Turkey up by 2
Slide 10: EBITDA up by 41% in 2012
EBITDA up by 41% in 2012 Turkey TurkeyEBITDA EBITDA International EBITDA Consolidated EBITDA (TL in millions) (US$ in millions) (TL in millions) 15.8% 14.7% * 18.6% * 16.6% 14.3% * 14.6% 685.5 143.4 434.7 362.6 486.9 83.9 2011 2012 2011 2012 2011 2012 Consolidated up by 28.5% to TL 75.0 million 4Q12
Slide 11: Subsequent Events
Subsequent Events CCBPL Ownership CCI Packages 49.39% Group Pakistan operations will be fully 1.22% consolidated starting from January 1, 2013 TCCC 49.39% Debt Private placement launched to partly refinance the long-term loan 11
Slide 12: Financial Review
Financial Review N. Orhun Köstem CFO
Slide 13: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / TL/$ TL/$ International* Turkey Year-End Average Functional TL USD December December Currency 31, 2012 1,7826 31, 2012 1,7922 Reporting December December TL USD Currency 31, 2011 1.8889 31, 2011 1,6708 Presentation ∆ -5.6% ∆ 7.
Slide 14: Key Financials – Consolidated
Key Financials – Consolidated 2011 2012 Change% 4Q11 4Q12 Change% Volume 761.7 850.5 11.7% 140.6 173.8 23.6% Net Sales 3,408.6 4,132.4 21.2% 670.5 844.9 26.0% Consolidated EBITDA 486.9 685,5 40.8% 58.4 75.0 28.5% (TL million) EBITDA 14.3% 16.6% 8.7% 8.9% Margin Net Income 140.3 380.1 171.0% (6.0) 0.
Slide 15: Financial Expenses
Financial Expenses 2011 2012 Interest income 31.4 31.5 Interest expense (-) (54.0) (53.7) Foreign exchange gain / (loss) 28.2 (26.5) Unrealized FX gain / (loss) - Borrowings (150.4) 57.0 Gain / (loss) on derivative transactions (0.1) 0.0 Financial Income / (Expense) Net (144.9) 8.4 15
Slide 16: Debt Structure
Debt Structure 2012 2011 Change% USD denominated* 812 773 5% EURO denominated* 51 43 18% TL denominated 35 0 n.m. Other (in USD terms) 43 38 12% Total Financial Debt in TL 1,677 1,634 1% Total Cash & Equivalent in TL 608 526 16% Net Debt in TL 1,069 1,108 (4%) Net Debt in US$ 600 587 2% Maturity Dat
Slide 17: Financial Leverage and FCF
Financial Leverage and FCF Net Debt/EBITDA Capex/Net Sales FCF (Excluding – acquisitions) (Excluding – acquisitions) (TL million) 2.3x 1.6x 14.6% 8.9% 154 FY11 FY12 FY11 FY12 FY11 FY12 (212) 17
Slide 18: 2013 Guidance
2013 Guidance Consolidated volume is to grow Turkey volume up at mid to high single digit growth Int’l volume up at mid to high teens (organic basis) Net revenue growth > volume growth EBITDA growth ≥ Net revenue growth 18
Slide 19: Closing Remarks
Closing Remarks Closing Remarks Damian P. Gammell CEO Michael A. O’Neill CEO
Slide 20: Thank you
Thank you Coca-Cola Icecek Investor Relations Tel: +90 216 528 3386 Fax: +90 216 365 8457 CCI-IR@cci.com.tr www.cci.com.tr