Embotelladora Andina SA · BCS:ANDINA_A

Embotelladora Andina SA — Q3 2016 Earnings Presentation

26 slides from Embotelladora Andina SA's earnings presentation

  1. Slide 1: Corporate Presentation 3Q 2016

    Agenda Page Corporate Presentation 3Q 2016 [CLIENT NAME]

  2. Slide 2: 1. Company Description

    1. Company Description Agenda Page [CLIENT NAME]

  3. Slide 3: History

    History Merger with KO Polar (incorporation of new territories in Argentina, Coca-Cola System Chile & Paraguay). Andina Andina listed on joint venture (50/50) Andina buys 40% stake becomes the the NYSE. for the water and in Sorocaba Refrescos. Coca-Cola Franchise TCCC acquires juice business in bott

  4. Slide 4: A regional and diversified platform (3Q16)

    A regional and diversified platform (3Q16) Volume Revenues EBITDA 8% 7% 11% 30% 29% 35% 27% 28% 23% 35% 31% 35% 179 MM UCs US$639 MM US$100 MM Chile Brazil  Territories: Antofagasta, Atacama, Coquimbo,  Territories: Rio de Janeiro, Espíritu Santo, part of Metropolitan Region, San Antonio, Cachapoa

  5. Slide 5: Ownership (As of December 31, 2015)

    Ownership (As of December 31, 2015) Controlling Group 49.8% 55.7% 43.8% Series A Series B Others 26.0% Coca-Cola 14.7% ADRs 6.5% Chilean Pension Funds 3.1% The Controlling Group is composed of 5 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. Series A elec

  6. Slide 6: Superior manufacturing and logistics capabilities

    Superior manufacturing and logistics capabilities Argentina Brazil  3 SSD production facilities with a  2 production facilities with a total total of 16 lines of 25 lines  Additional 2 production facilities ◦ Average utilization range from for tetra juices and 1 for mineral 59% to 72% water with

  7. Slide 7: 2. Market Description

    Agenda 2. Market Description Page [CLIENT NAME]

  8. Slide 8: Market Structure (FY2015)

    Market Structure (FY2015) ARGENTINA BRAZIL Product Mix Product Mix Sof Drinks 85% Waters 10% Juices &Others 4% Sof Drinks 81% Waters 2% Juices &Others 11% Beer 6% Format Mix Format Mix Non Returnables 54% Returnables 45% Post Mix 1% Non Returnables 80% Returnables 18% Post Mix 2% Channel Mix Channel

  9. Slide 9: Diversified brand portfolio across segments and geographies

    Diversified brand portfolio across segments and geographies (As of December 31, 2015) Argentina Brazil Chile Paraguay SSDs1 Juices and other NCBs1 Water Beer Source: Company filings and public releases 1 SSDs: sparkling soft drinks; NCBs: non-carbonated soft drinks 2 Total includes 0.1mmUC distribut

  10. Slide 10: 3. Financial Highlights

    3. Financial Highlights Agenda Page [CLIENT NAME]

  11. Slide 11: Track record of profitability, revenue and EBITDA growth, diversification and strong cash generation

    Track record of profitability, revenue and EBITDA growth, diversification and strong cash generation Sales volume (million UCs) Revenues (CLP$ mm) Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay 830.6 819.9 1,797,200 1,877,394 748.7 763.0 1,521,681 1,172,293 501.2 982,864 186.1 178.5

  12. Slide 12: Solid Financial Position

    Solid Financial Position Increase in Net Financial Debt is mainly explained by: - US$575MM Bond Issue for the Acquistion of Ipiranga (2013)1 - UF5 million Chilean Bond Issued on Sept 2013, UF3 million Chilean Bond Issued on Apr 2014 - Embotelladoras Coca-Cola Polar Merger (2012) Financial Debt (CLP$

  13. Slide 13: Solid Financial Position

    Solid Financial Position Financial Ratios (I) Financial Ratios (II) Net Financial Debt / EBITDA (LTM Sep'16) Financial Debt/Equity Ratio (1) Net Financial Debt (2)/Equity Ratio Net Financial Debt (w/o MtM CCS) (3) / EBITDA (LTM Sep'16) Debt Coverage Ratio (4) 44.9 2.2 1.0 0.9 50 0.9 1.9 2.1 45 0.8 2

  14. Slide 14: Solid Financial Position

    Solid Financial Position Financial Ratios (I) Financial Ratios (II) Debt/Equity Ratio (1) Net Debt/Equity Ratio (2) Net Financial Debt / EBITDA (12 months) (3) Net Financial Expenses Coverage 44.9 1.0 0.9 50,0 0.9 45,0 0.8 40,0 2.3 35,0 24.6 2.0 30,0 1.7 1.4 25,0 0.3 0.7 0.6 1.1 20,0 0.2 0.6 10.6 0.

  15. Slide 15: Consolidated Financial Highlights (Billion Ch$)

    Consolidated Financial Highlights (Billion Ch$) 2011 P 2012 2012P 2013 2013P 2014 2015 1Q15 1Q16 2Q15 2Q16 3Q16 3Q16 Total Volume (MUCs) 549 596 749 763 826 831 820 219 214 181 169 179 179 Net Sales 1,083 1,172 1,477 1,522 1,640 1,797 1,877 504 459 410 376 433 423 Operating Income 157 154 173 171 17

  16. Slide 16: Consolidated Financial Highlights (Million US$)

    Consolidated Financial Highlights (Million US$) 2011 P 2012 2012P 2013 2013P 2014 2015 1Q15 1Q16 2Q15 2Q16 3Q15 3Q16 Total Volume (MUCs) 549 596 749 763 826 831 820 219 214 181 169 186 179 Net Sales 2,239 2,411 3,038 3,071 3,311 3,151 2,868 806 654 663 556 640 639 Operating Income 324 317 355 346 36

  17. Slide 17: Consolidated Balance Sheet (as of September 30, 2016)

    Consolidated Balance Sheet (as of September 30, 2016, in million USD and million Ch$) Assets Liabilities and Equity Cash and Cash Equivalents 225 Current Financial Liabilities 74 Current Assets 487 Other Current Liabilities 411 Non current Assets + Others 2,319 Non-Current Financial Liabilities 1,09

  18. Slide 18: Dividends and Market Cap (as of September 30, 2016)

    Dividends and Market Cap (as of September 30, 2016) Dividend Distribution Market Cap (million Ch$) (billion USD) 71,190 71,437 71,164 5.3 52,081 53,671 3.9 50,689 3.5 3.0 2.7 2.5 2011 2012 2013 2014 2015 2016 2011 2012 2013 2014 2015 2016 Dividend Yield 2011 2012 2013 2014 2015 Series A 4.6% 4.4% 2.

  19. Slide 19: 4. Strategy

    4. Strategy Agenda Page [CLIENT NAME]

  20. Slide 20: 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

  21. Slide 21: Appendix

    Appendix CoG elg »NDINA

  22. Slide 22: Argentina: Main Financial Highlights (Local Currency)

    Argentina: Main Financial Highlights (Local Currency (millions)) 2011 P 2012 2012P 2013 2014 2015 1Q15 1Q16 2Q15 2Q16 2Q16 3Q16 Sales Volume (MUC) 151 167 200 224 229 234 62 63 51 45 45 49 Net Sales 2,254 2,985 3,690 4,898 6,541 8,903 2,143 2,808 1,888 2,176 2,112 2,682 Operating Income 255 308 311

  23. Slide 23: Brazil: Main Financial Highlights (Local Currency)

    Brazil: Main Financial Highlights (Local Currency (millions)) 2011 2012 2012 P 2013 2013 P 2014 2015 1Q15 1Q16 2Q15 2Q16 2Q16 3Q16 Sales Volume (MUC) 205 225 253 243 305 306 291 78 72 63 63 63 62 Net Sales 1,545 1,814 2,030 2,142 2,657 2,959 3,059 811 802 673 682 690 733 Operating Income 223 260 276

  24. Slide 24: Chile: Main Financial Highlights (Local Currency)

    Chile: Main Financial Highlights (Local Currency (millions)) 2011 P 2012 2012P 2013 2014 2015 1Q15 1Q16 2Q15 2Q16 3Q15 3Q16 Sales Volume (MUC) 175 185 233 235 232 234 63 63 53 48 52 54 Net Sales 339,116 374,873 475,824 477,918 492,072 514,733 135,551 142,796 117,535 113,523 115,660 124,857 Operating

  25. Slide 25: Paraguay: Main Financial Highlights (Local Currency)

    Paraguay: Main Financial Highlights (Local Currency (millions)) 2011 P 2012 2013 2014 2015 1Q15 1Q16 2Q15 2Q16 3Q15 3Q16 Sales Volume (MUC) 19 63 61 63 61 16 17 13 13 15 14 Net Sales 291,166 968,454 968,523 1,010,735 1,033,215 270,888 297,254 221,722 238,480 246,989 253,757 Operating Income 42,001 9

  26. Slide 26: Corporate Presentation 3Q 2016

    Agenda Page Corporate Presentation 3Q 2016 [CLIENT NAME]

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