Anadolu Efes Biracilik Ve Malt Sanayii A.s. · BIST:AEFES
Anadolu Efes Biracilik Ve Malt Sanayii A.s — Anadolu Efes — Q1 2013 Earnings Presentation
16 slides from Anadolu Efes Biracilik Ve Malt Sanayii A.s's earnings presentation, May 9, 2013
Slide 1: Beer Operations 1Q2013 Results Conference Call Presentation
BEER OPERATIONS 1Q2013 Results Conference Call Presentation Alejandro Jimenez Onur Çevikel EFES BEER GROUP PRESIDENT CFO 09.05.2013
Slide 2: Consolidation notes and forward-looking statements
• According to the Shareholder’s Agreement regarding the governance of Coca-Cola İçecek A.Ş. (“CCI”), with effect from 01.01.2013, Anadolu Efes started to fully consolidate CCI, whereas CCI has been consolidated into Anadolu Efes’ financial results by using proportionate consolidation method until 3
Slide 3: General Overview & Operating Performance
General Overview & Operating Performance by Alejandro Jimenez
Slide 4: Beer Sales Volume Development
Beer Sales Volume Development Total Beer Volume Development - Reported 5.2 4.9 3.4 3.3 mhl 1.8 1.6 1Q2012 1Q2013 Turkey Beer Operations International Beer Operations Total Beer Sales Total reported beer sales volume declined by 5.4% in 1Q2013 vs. 1Q2012, with an organic decline of 19.3% on an operat
Slide 5: Turkey Beer Operations
TURKEY BEER OPERATIONS Volume Development Sales Revenue Development 1.8 1.6 TRL m mhl 337.2 354.4 1Q2012 1Q2013 1Q2012 1Q2013 • Total sales volumes declined by 10.3% y-o-y in Market Share by Volume-1Q2013 1Q2013 due to ; the high base of 1Q2012 the destocking effect Others 22.5% adverse market
Slide 6: International Beer Operations
INTERNATIONAL BEER OPERATIONS Volume Development-Reported Sales Revenue Development-Reported mhl m USD 3.4 3.3 237.9 241.9 1Q2012 1Q2013 1Q2012 1Q2013 • Consolidated sales volume of EBI reported at 3.3mhl in 1Q2013, down 2.7% y-o-y • On an operating proforma basis, consolidated sales volumes fell or
Slide 7: Market Share Development in Russia
Market Share Development in Russia Market Share by Volume – Russia inhab) Retail YTD March 2013 Nielsen, National Urban Russia (over 10 th. Other 19.6% Carlsberg EFES RUS 37.5% 14.0% Heineken InBev 14.3% 14.7% *Carlsberg and INBEV breweries shares include Ukrainian brands ** EFES RUS includes ex-Efe
Slide 8: Financial Overview
Financial Overview by Onur Çevikel
Slide 9: Turkey Operational Snapshot - 1Q2013 Performance
TURKEY Operational Snapshot-1Q2013 Performance 1Q2012 1Q2013 Growth (% ) Total Sales Volume (mhl) 1.8 1.6 -10.3% Net Sales (million TRL) 337.2 354.4 5.1% Gross Profit (million TRL) 230.7 250.1 8.4% Gross Profit margin (% ) 68.4% 70.6% 216 bps EBITDA (million TRL) 117.6 102.1 (13.1%) EBITDA margin (%
Slide 10: Turkey Beer Operations Free Cash Flow
TURKEY BEER OPERATIONS Free Cash Flow (m TRL) 1Q2012 1Q2013 Operating Profit 91.2 80.1 Depreciation & Amortization 21.3 23.7 Other non-cash items 5.1 -1.7 EBITDA 117.6 102.1 Change in Inventory 0.8 60.2 Change in Trade Receivables -89.5 -97.6 Change in Trade Payables 69.6 66.7 Change in Other Assets
Slide 11: Efes Breweries International Operational Snapshot - 1Q2013 Performance
EFES BREWERIES INTERNATIONAL Operational Snapshot-1Q2013 Performance 1Q2012 (Reported) 1Q2013 (Reported) Growth (% ) 1Q2013 (Proforma) Organic Growth (% ) Total Sales Volume (mhl) 3.4 3.3 -2.7% 3.3 -23.1% Net Sales (million USD) 241.9 237.9 -1.7% 237.9 -25.9% Gross Profit (million USD) 100.1 85.1 -1
Slide 12: Efes Breweries International Free Cash Flow
EFES BREWERIES INTERNATIONAL Free Cash Flow (m USD) Reported 1Q2012 1Q2013 Operating Profit -5.2 -39.8 Depreciation & Amortization 31.7 38.8 Other non-cash items -0.7 3.1 EBITDA 25.8 2.1 Change in Inventory -28.4 -31.6 Change in Trade Receivables -24.5 10.9 Change in Trade Payables 74.8 30.0 Change
Slide 13: Net Financial Debt & Financing
Net Financial Debt & Financing Turkey Beer Operations • Cash & cash equivalents at 542.8 m TRL - Net debt position of 731.8 m TRL Efes Breweries International • Consolidated gross debt at US$ 273.9 m • Cash & cash equivalents at US$ 112.7 m - Net debt position at US$ 161.1 m Turkey Beer-Maturity Bre
Slide 14: Closing Remarks
CLOSING REMARKS by Alejandro Jimenez
Slide 15: Beer Operations' FY2013 Outlook
BEER OPERATIONS’ FY2013 OUTLOOK Current trend of the beer markets in Turkey and Russia are behind the ones on which our full year guidance was based on; In Turkey, our first quarter results were slightly below our estimates due to the adverse market conditions also affected by competitive pressure
Slide 16: Questions Please
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