General Mills, Inc. · NYSE:GIS
General Mills — 2021 Barclays Global Consumer Staples Conference
20 slides from General Mills's conference presentation, Sep 8, 2021
Slide 1: 2021 Barclays Global Consumer Staples Conference
2021 Barclays Global Consumer Staples Conference September 8, 2021 1
Slide 2: A Reminder on Forward-looking Statements
A Reminder on Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations and assumptions. These forward- looking statements are subject to certain risk
Slide 3: Jeff Siemon, VP, Investor Relations
Jeff Siemon VP, Investor Relations General Mills F22 – Barclays 3
Slide 4: Today's General Mills Overview
Today’s General Mills Overview • On Track to Deliver F22 Priorities; Competing Well in a Highly Dynamic Environment • Executing Our Accelerate Strategy • Boldly Building Brands • Relentlessly Innovating • Unleashing Our Scale with Advantaged Capabilities • Being a Force for Good • Updating Full-year
Slide 5: Updating Fiscal 2022 Financial Outlook
Updating Fiscal 2022 Financial Outlook PREVIOUS F22 UPDATED F22 KEY FINANCIAL METRICS¹ OUTLOOK OUTLOOK Organic Net Sales Growth -3 to -1% Higher end of range Adjusted Operating Profit Growth² -4 to -2% Higher end of range Adjusted Diluted EPS Growth² -2% to Flat Higher end of range Free Cash Flow Co
Slide 6: Jon Nudi, Group President, North America Retail Segment
Jon Nudi Group President, North America Retail Segment General Mills F22 – Barclays 6
Slide 7: Highly Dynamic Environment in North America Retail
Highly Dynamic Environment in North America Retail General Mills U.S. Retail Sales 2-year CGR 5.0% • Consumer Demand Remains 4.2% 3.9% 4.6% Elevated on 2-year Basis; Gaining Share in Majority of Retail Sales F21 Q2 F21 Q3 F21 Q4 F22 Q1 • Navigating Challenging Supply Chain Environment General Mills
Slide 8: Competing Effectively in Cereal
Competing Effectively in Cereal Continued Share Growth Winning Brand Building and Innovation General Mills U.S. RTE Cereal Dollar Share 33.1% 33.0% 32.8% 32.5% 31.7% 31.3% F18 F19 F20 F21 F21 F22 Q1 Q1 Source: NielsenIQ xAOC, Q1 F22 week ending 8/28/2021 General Mills F22 – Barclays 8
Slide 9: Competing Effectively in Refrigerated Dough
Competing Effectively in Refrigerated Dough Continued Share Growth Winning Brand Building and Innovation General Mills U.S. Refrigerated Dough Dollar Share 71.5% 70.5% 70.1% 69.4% 68.0% 66.8% F18 F19 F20 F21 F21 F22 Q1 Q1 Source: NielsenIQ xAOC, Q1 F22 week ending 8/28/2021 General Mills F22 – Barcl
Slide 10: Competing Effectively in Mexican
Competing Effectively in Mexican Continued Share Growth Winning Brand Building and Innovation General Mills U.S. Mexican Food Dollar Share 18.6% 18.0% 17.6% 17.2% 17.0% 16.7% F18 F19 F20 F21 F21 F22 Q1 Q1 Source: NielsenIQ xAOC, Q1 F22 week ending 8/28/2021 General Mills F22 – Barclays 10
Slide 11: Activating Box Tops for Back to School
Activating Box Tops for Back to School Driving Engagement with Purpose Customized Retailer Partnerships General Mills F22 – Barclays 11
Slide 12: Bethany Quam, Group President, Pet Segment
Bethany Quam Group President, Pet Segment General Mills F22 – Barclays 12
Slide 13: Blue Buffalo Driving Growth in Pet Category
Blue Buffalo Driving Growth in Pet Category BB % Household Penetration1 • Household Penetration Gains AND 52 week rolling 15.1% 14.4% Increased Buy-rates 10.6% • Omnichannel Market Share Growth CY18 CY20 CY21 H1 • Strong F22 Q1 Retail Sales Growth3 BB Dollar Share2 + (+DD), Including Increased Benef
Slide 14: Blue Buffalo's Accelerate Plan for Growth
Blue Buffalo’s Accelerate Plan for Growth OUR PURPOSE Love them Like Family. Feed them Like Family ® W H ER E TO P L AY High-quality, Natural Ingredients in Feeding & Treating for Dogs & Cats HOW TO WIN Boldly Building Relentlessly Leveraging the Scale Being a Force Blue Buffalo Innovating of Genera
Slide 15: Boldly Building Blue Buffalo
Boldly Building Blue Buffalo Pet Profile Rewards Connect Learn Shop • Educating & connecting with Pet Parents in both physical & digital environments • Centered on moments that matter, iterating at the speed of digital • Extending the Blue Buffalo brand General Mills F22 – Barclays 15
Slide 16: • Imbed youtube video with edits • Speed up • Use
• Imbed youtube video with edits • Speed up • Use o 01 – 06 seconds o 022 – 1:13 seconds General Mills F22 – Barclays 16
Slide 17: Relentlessly Innovating with Tastefuls
Relentlessly Innovating with Tastefuls Blue Buffalo Cat Wet Retail Sales1 $ in Millions, % +/- LY Tastefuls Launch 26% 25% 13% 14% 10% F21 Q1 F21 Q2 F21 Q3 F21 Q4 F22 Q1 1GMI Custom Market including NielsenIQ xAOC plus select big box pet specialty retailers, 12 months ending 8/28/21. General Mills F
Slide 18: Expanding Our Portfolio in Natural Dog Treats
Expanding Our Portfolio in Natural Dog Treats Acquired Dog Treats Household Penetration1 52 week rolling 4.6% 4.0% 3.4% CY18 CY20 CY21 H1 • Differentiated Natural Products, Aligned with the True BLUE Promise • Complimentary Products and Channels to Blue Buffalo Treats • Millions of New Pet Parent Ho
Slide 19: Our Pet Segment is Well Positioned for Continued Growth
Our Pet Segment is Well Positioned for Continued Growth • Pet Food is a Large, Growing Category • We’re the Leader in the Most Attractive Segment with a Brand Fueled by Mission and Purpose • Accelerate Plan for Growth General Mills F22 – Barclays 19
Slide 20: 2021 Barclays Global Consumer Staples Conference
2021 Barclays Global Consumer Staples Conference September 8, 2021 20
General Mills — 2021 Barclays Global Consumer Staples Conference on 6ix