Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Investor Presentation (2021)
27 slides from Embotelladora Andina SA's investor presentation, 2021
Slide 1: 2Q Corporate Presentation
Agenda 2QPage CORPORATE PRESENTATION [CLIENT NAME] 21
Slide 2: 1. Company Description
1. Company Description Agenda Page [CLIENT NAME]
Slide 3: History
History Merger with KO Polar (incorporation of new Coca‐Cola System During April we Agreement Andina Andina listed on territories in joint venture (50/50) began distributing for becomes the the NYSE. TCCC acquires Argentina, Chile & for the water and AdeS products, distributing Coca‐Cola Franchise 1
Slide 4: A regional and diversified platform (FY20)
A regional and diversified platform (FY20) Volume Revenues Adjusted EBITDA 9% 9% 14% 32% 37% 39% 23% 20% 15% 36% 33% 32% 735 MM UCs US$2,190 MM US$450 MM Chile Brazil Territories: Antofagasta, Atacama, Coquimbo, Territories: majority of the State of Rio de Metropolitan Region, San Antonio, Cacha
Slide 5: Ownership (As of June 30, 2021)
Ownership (As of June 30, 2021) Controlling Group 38.1% 55.4% 20.7% Series A Series B Others 46.3% Coca‐Cola 7.3% ADRs 2.1% Chilean Pension Funds 6.2% The Controlling Group is composed of 4 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. Series A elects 12
Slide 6: 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 27 lines ◦ Average utilization ranged from ◦ Average utilization range from 15.0% to 39.0% 43.3% to 53.2% 47 distribution centers 20 dis
Slide 7: 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 6
Slide 8: 2. Market Description
2. Market Description Agenda Page [CLIENT NAME]
Slide 9: Coca-Cola Andina at a glance: Market Structure (As of December 31, 2020)
Coca‐Cola Andina at a glance: Market Structure (As of December 31, 2020) Market Share Channel Mix* Per capita 9% Consumption 64% 41% (8 oz. bottles) 244 45% 23% 36% 26% 31 22 13 On premise Wholesalers Soft Drinks Waters Juice and Beer and Soft drinks Waters Juices and Others Supermarkets Mom and Pop
Slide 10: Market Structure (As of December 31, 2020)
Market Structure (As of December 31, 2020) Per capita Product Mix Market Share Per capita Product Mix Market Share Consumption 6% Consumption 9% 7% 7% 61% (8 oz. bottles) 62% (8 oz. bottles) 51% 210 7% 45% 250 17% 20% 19 16 87% 18 17 23 78% Soft drinks Waters Juices and Others Soft Drinks Waters Jui
Slide 11: Diversified brand portfolio across segments and geographies
Diversified brand portfolio across segments and geographies (As of June 30, 2021) 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 2 The complete Diageo
Slide 12: 3. Financial Highlights
3. Financial Highlights Agenda Page [CLIENT NAME]
Slide 13: 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 ‐2.2% 819.9 1,877,394 1,848,878 778.9 756.2 750.6 1,777,459 1,779,025 1,698,281 746.4 7
Slide 14: Solid Financial Position
Solid Financial Position Financial Debt1 (CLP$ mm) Financial Debt1 Summary (CLP$ mm) as of June 2021 Banks Bonds Total Short Term Financial Debt Long Term Financial Debt Ch$mm 27,654 796,878 824,532 % 3.4% 96.6% 100% 865,286 824,532 Note: Banks includes Bank, Leasing & Others, doesn´t consider Guara
Slide 15: Solid Financial Position
Solid Financial Position Financial Ratios (I) Financial Ratios (II) Financial Debt / Equity Ratio (1) Net Financial Debt (2) / Equity Ratio Net Financial Debt (2) / Adj. EBITDA (3) Debt Coverage Ratio (4) 12,0 1.0 11,0 0.9 9.6 0.8 0.8 0.8 8.9 10,0 0.7 0.7 8.4 8.5 8.2 7.7 8.0 9,0 8,0 7,0 0.6 0.6 0.6
Slide 16: Consolidated Financial Highlights (Billion CLP$)
Consolidated Financial Highlights (Billion CLP$) 2 2015 2016 2017 2018 20191 2020 1Q20 1Q212 2Q20 2Q21 Total Volume (million UCs) 820 779 756 751 746 735 198 212 137 178 Net Sales 1,877 1,777 1,849 1,673 1,779 1,698 505 509 312 442 Operating Income 216 214 239 225 238 240 76 79 16 45 Operating Margi
Slide 17: Consolidated Financial Highlights (Million US$)
Consolidated Financial Highlights (Million US$) 2 2015 2016 2017 2018 20191 2020 1Q20 1Q212 2Q20 2Q21 Total Volume (million UCs) 820 779 756 751 746 735 198 212 137 178 Net Sales 2,868 2,627 2,848 2,569 2,495 2,190 619 703 380 615 Operating Income 329 316 368 348 335 306 93 109 20 63 Operating Margi
Slide 18: Consolidated Balance Sheet (as of June 30, 2021)
Consolidated Balance Sheet (as of June 30, 2021, in million US$ and million CLP$) Million US$: Assets Liabilities and Equity Cash and Cash Equivalents 632 Current Financial Liabilities 62 Current Assets 470 Other Current Liabilities 450 Non current Assets + Others 2,197 Non-Current Financial Liabili
Slide 19: Dividends and Market Cap (as of June 30, 2021)
Dividends and Market Cap (as of June 30, 2021) Dividend Distribution1 Market Cap (million CLP$) (billion USD) 4.2 3.3 25,841 2.6 2.3 99,986 2.1 85,475 85,475 75,537 51,683 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Dividend Yield2 2016 2017 2018 2019 2020 Series A 3.5% 3.3% 3.0% 3.8% 5.4% Ser
Slide 20: 4. Strategy
4. Strategy Agenda Page [CLIENT NAME]
Slide 21: 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 & portfolio Coca‐Cola system development for the Coca‐Cola system in Latin America Growth in SSD business Portfolio expansion
Slide 22: 5. Appendix
5. Appendix 21 Cet belg ANDINA
Slide 23: Argentina: Main Financial Highlights (Local Currency)
Argentina: Main Financial Highlights (Local Currency (million)) 2015 2016 2017 2018 2019 2020 1Q20 1Q21 2Q20 2Q21 Sales Volume (million UCs) 234 219 211 202 178 167 46 50 29 36 Net Sales 8,903 11,343 14,203 22,441 31,566 37,737 12,282 13,076 7,765 10,302 Operating Income 829 1,198 1,588 2,158 2,563
Slide 24: Brazil: Main Financial Highlights (Local Currency)
Brazil: Main Financial Highlights (Local Currency (million)) 2015 2016 2017 2018 2019 2020 1Q20 1Q21 2Q20 2Q21 Sales Volume (million UCs) 291 266 249 249 259 265 67 68 54 63 Net Sales 3,059 3,037 2,976 3,062 3,467 3,758 938 1,033 737 951 Operating Income 378 369 414 448 503 586 114 139 79 98 Operati
Slide 25: Chile: Main Financial Highlights (Local Currency)
Chile: Main Financial Highlights (Local Currency (million)) 2015 2016 2017 2018 2019 2020 1Q20 1Q211 2Q20 2Q211 Sales Volume (million UCs) 234 232 231 231 240 236 67 76 41 65 Net Sales 514,733 540,427 551,873 570,939 608,952 644,762 174,452 229,439 108,890 202,548 Operating Income 63,059 68,879 72,8
Slide 26: Paraguay: Main Financial Highlights (Local Currency)
Paraguay: Main Financial Highlights (Local Currency (million)) 2015 2016 2017 2018 2019 2020 1Q20 1Q21 2Q20 2Q21 Sales Volume (million UCs) 61 62 65 68 69 66 18 18 13 14 Net Sales 1,033,215 1,107,678 1,227,001 1,337,989 1,405,584 1,351,909 375,422 377,734 251,873 302,532 Operating Income 176,418 199
Slide 27: 2Q Corporate Presentation
Agenda 2QPage CORPORATE PRESENTATION [CLIENT NAME] 21