Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Investor Presentation (2019)
28 slides from Embotelladora Andina SA's investor presentation, 2019
Slide 1: Corporate Presentation
Corporate Presentation 1019 OX
Slide 2: #goPaperless
In line with our constant effort to improve Agenda communication with the financial market and at the same time reduce waste generation, Page we have developed the Coca‐Cola Andina IR App. This is an investor relations application, and we will begin a 100% digital communication plan of our Financial
Slide 3: 1. Company Description
1. Company Description Agenda Page [CLIENT NAME]
Slide 4: History
History Merger with KO Polar (incorporation of new During April we began Coca‐Cola System Andina Andina listed on territories in Argentina, distributing AdeS joint venture (50/50) becomes the the NYSE. Chile & Paraguay). products, reinforcing for the water and Coca‐Cola Franchise TCCC acquires Andin
Slide 5: A regional and diversified platform (FY18)
A regional and diversified platform (FY18) Volume Revenues Adjusted EBITDA 9% 9% 12% 31% 34% 38% 27% 25% 17% 33% 32% 33% 751 MM UCs US$2,569 MM US$502 MM Chile Brazil Territories: Antofagasta, Atacama, Coquimbo, Territories: Rio de Janeiro, Espíritu Santo, part of Metropolitan Region, San Antoni
Slide 6: Ownership (As of December 31, 2018)
Ownership (As of December 31, 2018) Controlling Group 45.5% 55.7% 35.20% Series A Series B Others 30.2% Coca‐Cola 14.7% ADRs 3.1% Chilean Pension Funds 6.7% The Controlling Group is composed of 5 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. Series A ele
Slide 7: Superior manufacturing and logistics capabilities
Superior manufacturing and logistics capabilities Argentina Brazil 3 production facilities with a total 3 production facilities with a total of 22 lines of 28 lines ◦ Average utilization ranged from ◦ Average utilization range from 31.5% to 62.2% 34.8% to 69.2% 45 distribution centers 17 dis
Slide 8: Committed to Sustainable Development
Committed to Sustainable Development Generating Social, Economic and Environmental Value in all of our actions Source: Company filings and public releases 7
Slide 9: 2. Market Description
Agenda 2. Market Description Page [CLIENT NAME]
Slide 10: Coca-Cola Andina at a Glance: Market Structure (FY2018)
Coca‐Cola Andina at a Glance: Market Structure (FY2018) Soft Drinks: Without Sugar: 18% With Sugar: 83% Soft Drinks per country, Sugary Product Mix mix (grey bar = Sugarfree): 17% Sof Drinks 77% Waters 10% Juices & Others 10% Beer 2% 30% Format Mix 16% 10% Non Returnables 60% Returnables 38% Post Mi
Slide 11: Market Structure (FY2018)
Market Structure (FY2018) ARGENTINA BRAZIL Product Mix Product Mix Sof Drinks 83% Waters 11% Juices & Others 6% Sof Drinks 81% Waters 3% Juices & Others 10% Beer 6% Format Mix Format Mix Non Returnables 52% Returnables 47% Post Mix 1% Non Returnables 75% Returnables 23% Post Mix 2% Channel Mix Chann
Slide 12: Diversified brand portfolio across segments and geographies
Diversified brand portfolio across segments and geographies (As of March 31, 2019) Argentina Brazil Chile Paraguay SSDs1 Juices and other NCBs1 Water Beer Spirit Beverages2 Source: Company filings and public releases 1 SSDs: Sparkling Soft Drinks; NCBs: Non‐Carbonated Beverages 11 3 The complete Dia
Slide 13: 3. Financial Highlights
3. Financial Highlights Agenda Page [CLIENT NAME]
Slide 14: Track record of profitability, Adjusted EBITDA growth, diversification and strong cash generation
Track record of profitability, Adjusted EBITDA growth, diversification and strong cash generation Sales volume (million UCs) Revenues (CLP$ mm) Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay CAGR ‐2.5% 830.6 819.9 1,797,200 1,877,394 1,848,878 778.9 756.2 750.6 1,777,459 1,672,916 2
Slide 15: Solid Financial Position
Solid Financial Position Financial Debt (CLP$ mm) Financial Debt Summary (CLP$ mm) as of March, 2019 Short Term Financial Debt Long Term Financial Debt Banks Bonds Total Ch$mm 67,167 706,295 773,462 810,019 827,517 786,371 772,679 % 8.7% 91.3% 100% 743,749 773,462 Note: Banks includes: Bank, Leasing
Slide 16: Solid Financial Position
Solid Financial Position Financial Ratios (I) Financial Ratios (II) Net Financial Debt / Adj. EBITDA Financial Debt / Equity Ratio (1) Net Financial Debt (2) / Equity Ratio Net Financial Debt / Adj. EBITDA (w/o MtM CCS) (3) Debt Coverage Ratio (4) 1.0 7.5 7.7 0.9 0.9 0.9 6.9 0.9 0.9 6.4 6.4 5.1 2.2
Slide 17: Consolidated Financial Highlights (Billion Ch$)
Consolidated Financial Highlights (Billion Ch$) 2013 2013P 2014 2015 2016 2017 2018 1Q18 1Q19 Total Volume (million UCs) 763 826 831 820 779 756 751 204 198 Net Sales 1,522 1,640 1,797 1,877 1,777 1,849 1,673 480 447 Operating Income 171 179 187 216 214 239 225 76 68 Operating Margin 11.3% 10.9% 10.
Slide 18: Consolidated Financial Highlights (Million US$)
Consolidated Financial Highlights (Million US$) 2013 2013P 2014 2015 2016 2017 2018 1Q18 1Q19 Total Volume (million UCs) 763 826 831 820 779 756 751 204 198 Net Sales 3,071 3,311 3,151 2,868 2,627 2,848 2,569 797 668 Operating Income 346 361 328 329 316 368 348 127 101 Operating Margin 11.3% 10.9% 1
Slide 19: Consolidated Balance Sheet (as of March 31, 2019)
Consolidated Balance Sheet (as of March 31, 2019, in million US$ and million CLP$) Million US$: Assets Liabilities and Equity Cash and Cash Equivalents 180 Current Financial Liabilities 62 Current Assets 474 Other Current Liabilities 443 Non current Assets + Others 2,340 Non-Current Financial Liabil
Slide 20: Dividends and Market Cap
Dividends and Market Cap (as of March 31, 2018) Dividend Distribution1 Market Cap (million CLP$) (billion USD) 4.2 3.4 3.3 3.3 2.7 2.5 85,476 42,738 75,537 67,586 52,081 53,671 21,369 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Dividend Yield2 2014 2015 2016 2017 2018 Series A 2.8% 3
Slide 21: 4. Strategy
4. Strategy Agenda Page [CLIENT NAME]
Slide 22: Expansion potential through organic and inorganic growth avenues
Expansion potential through organic and inorganic growth avenues Organic growth Inorganic growth Superior organic growth within the Key role in the consolidation process of the Coca‐Cola system Coca‐Cola system in Latin America Fuel growth in SSD business Inorganic expansion in line with TCCC go
Slide 23: Appendix
Appendix Gtii6lg »NDINA
Slide 24: Argentina: Main Financial Highlights (Local Currency)
Argentina: Main Financial Highlights (Local Currency (million)) 2013 2014 2015 2016 2017 2018 1Q18 1Q19 Sales Volume (million UCs) 224 229 234 219 211 202 60 49 Net Sales 4,898 6,541 8,903 11,343 14,203 22,441 7,324 6,177 Operating Income 398 428 829 1,198 1,588 2,158 1,028 811 Operating Margin 8.0%
Slide 25: Brazil: Main Financial Highlights (Local Currency)
Brazil: Main Financial Highlights (Local Currency (million)) 2013 2013P 2014 2015 2016 2017 2018 1Q18 1Q19 Sales Volume (million UCs) 243 305 306 291 266 249 249 65 66 Net Sales 2,142 2,657 2,959 3,059 3,037 2,976 3,062 809 877 Operating Income 257 290 354 378 369 414 448 139 153 Operating Margin 12
Slide 26: Chile: Main Financial Highlights (Local Currency)
Chile: Main Financial Highlights (Local Currency (million)) 2013 2014 2015 2016 2017 2018 1Q18 1Q19 Sales Volume (million UCs) 235 232 234 232 231 231 62 65 Net Sales 477,918 492,072 514,733 540,427 551,873 570,939 147,712 156,876 Operating Income 66,620 56,460 63,059 68,879 72,890 82,131 23,061 20,
Slide 27: Paraguay: Main Financial Highlights (Local Currency)
Paraguay: Main Financial Highlights (Local Currency (million)) 2013 2014 2015 2016 2017 2018 1Q18 1Q19 Sales Volume (million UCs) 61 63 61 62 65 68 18 18 Net Sales 968,523 1,010,735 1,033,215 1,107,678 1,227,001 1,337,989 353,045 354,575 Operating Income 129,747 157,306 176,418 199,617 221,018 260,7
Slide 28: Agenda
Corporate Presentation 1019 OX