Britvic PLC

Britvic — Investor Day (September 2008)

139 slides from Britvic's investor day presentation, September 2008

1. Slide 1: Investor & Analyst Day

   INVESTOR & ANALYST DAY September 2008

2. Slide 2: Welcome

   WELCOME Paul Moody Chief Executive

3. Slide 3: Agenda

   Agenda Setting the Scene Billy O’Regan 8.45 Brands, Innovation and Marketing Tess Shaw 9.15 Grocery Overview Donald Williamson 9.30 Licensed Wholesale Finbarr O’Doherty 9.45 Break 10.00 An Update on Synergies Paddy Heade 10.30 Q&A Paul Moody 11.00 Britvic GB – Innovation, Marketing and Simon Stewart

4. Slide 4: Setting the Scene

   SETTING THE SCENE Billy O'Regan Managing Director

5. Slide 5: The Senior Management Team

   The Senior Management Team BILLY O'REGAN Managing Director TESS DONALD FINBARR PAULA JIM PADDY GRAHAME SHAW WILLIAMSON O'DOHERTY JOHNSTON SHEERIN HEADE PICKETT Marketing Commercial Commercial Technical & Supply Chain Finance HR Director Director Director Director Development Director Director (Inter

6. Slide 6: Agenda

   Agenda  Britvic Ireland  Overview  Rationale for the acquisition  Acquisition and integration chronology  The Bigger Picture  The macro economic environment  The soft drinks market in Ireland  A Leading Position  Market share  A strong and resilient portfolio  The PepsiCo relationship  D

7. Slide 7: Overview of Britvic Ireland

   Overview of Britvic Ireland  Ireland’s 2nd largest branded soft drinks Key facts: business by volume •950  Over half of volumes sold from wholly-owned employees brands  Similar brand and category profile to Britvic GB •2 carbs/stills  Strong positions in all key categories factories  130m litre

8. Slide 8: Rationale for the acquisition

   Rationale for the acquisition Growth Acceleration  leveraging the Pepsi relationship  building on existing presence for Britvic brands in market  scope to achieve real cost savings and other synergies Mid- To Long-term Potential...  to drive top-line growth of the combined portfolio  to introdu

9. Slide 9: Britvic Ireland Acquisition & Integration Chronology

   Britvic Ireland Acquisition & Integration Chronology  Proposed acquisition announced 14 May 2007  Competition Authority approval 15 August 2007  Deal formally concludes 29 August 2007 Year 1 activities: 1 October 2007. . . Business Integration Processes Product Portfolio Refining Integration lega

10. Slide 10: Agenda

    Agenda  Britvic Ireland  Overview  Rationale for the acquisition  Acquisition and integration chronology  The Bigger Picture  The macro economic environment  The soft drinks market in Ireland  A Leading Position  Market share  A strong and resilient portfolio  The PepsiCo relationship  D

11. Slide 11: Macro Economic Environment

    Macro Economic Environment STRONG ECONOMIC BASE DYNAMICS IN THE ECONOMY  Growing population - 5.8m island of Ireland Environment  Young, well educated workforce  Green agenda – carbon footprint,  Social Partnership Model recycling etc.  Greatest population growth in the most Consumer trends eco

12. Slide 12: Irish Soft Drinks Grocery Market Volume

    Irish Soft Drinks Grocery Market Volume 000's Litres IN CONTEXT 2006 Category Market Volume 12-week YOY 2007 90,000 2008 Carbonates -2.4% 80,000 Sport -3.5% Water -8.2% 70,000 Dilutes -3.4% 60,000 50,000 40,000 Sept-07 Nov-07 Dec-07 Feb-08 Apr-08 Jul-08 A declining market in the short term Source: A

13. Slide 13: The ROI Soft Drinks Category

    The ROI Soft Drinks Category Grocery Licensed Top 10 Categories TOP 10 Categories Sales Value €m % Chg MAT Sales Value €m % Chg MAT 1 TOTAL SOFT DRINKS 801.6 4.9 1 TOTAL BEER 2,707.2 1.9 2 COUNTLINES 333.0 7.1 2 TOTAL SPIRITS 893.1 5.7 3 FRUIT JUICES 500ML + 161.4 10.4 3 TOTAL SOFT DRINKS 486.6 2.8

14. Slide 14: The ROI Market

    The ROI Market Grocery by Retail Sales Value Licensed On-Trade by Retail Sales (€802m) Value (€487m) Dilutes Sports 4% 7% Cola Fruit Mixers Juices 23% 13% Lemon & Fruit Juices 6% Lime 14% 5% Juice Drinks Water 7% 10% Flavoured Water 3% Energy Cola 12% 26% Non- Flavoured Water 17% Flavoured Non-Fruit

15. Slide 15: Agenda

    Agenda  Britvic Ireland  Overview  Rationale for the acquisition  Acquisition and integration chronology  The Bigger Picture  The macro economic environment  The soft drinks market in Ireland  A Leading Position  Market share  A strong and resilient portfolio  The PepsiCo relationship  D

16. Slide 16: ROI Market Share

    ROI Market Share Grocery (€802m) Licensed On-Premise (€487m) Glaxo Britvic Britvic Coca Cola Smithkline1 Ireland 39% Ireland, 25% 38% 4% All Other 19% Danone 5% Private Label Coca Cola Red Bull All Other 4% 33% 10% 13% Source: AC Nielsen Market Track Mat June 08, AC Nielsen Value MAT June 08

17. Slide 17: A Strong and Resilient Portfolio

    Britvic Ireland – A Strong and Resilient Portfolio No.1 lemon / lime brand Carbonates No.1 fruit flavoured brand No.1 apple carbonated brand No.1 value soft drinks brands No.2 cola brand No.1 & 2 squash brands Stills No.1 single serve juices New premium juice drink Water No.1 water brand No.1 flavou

18. Slide 18: Part of a bigger relationship with Pepsico

    Part of a bigger relationship with Pepsico  Strengthens our overall brand portfolio and trade credibility  Adds scale and allows us to leverage supply chain capacity  Combined investment in research delivers  market consumer insights  new product development opportunities  PepsiCo brands accou

19. Slide 19: Advert

    Advert BRITVI—

20. Slide 20: Agenda

    Agenda  Britvic Ireland  Overview  Rationale for the acquisition  Acquisition and integration chronology  The Bigger Picture  The macro economic environment  The soft drinks market in Ireland  A Leading Position  Market share  A strong and resilient portfolio  The PepsiCo relationship  D

21. Slide 21: Britvic Ireland – A strategy for growth

    Britvic Ireland – A strategy for growth Growth Productivity Enabling  Product Value  Cross-territory  Performance Optimisation brands Culture  Supply Chain  Innovation  Leadership/Best Efficiencies  PepsiCo Alignment Practice  Promotional and Relationship  Leveraging Efficiency Technology 

22. Slide 22: Britvic Ireland - M&A Scorecard

    Britvic Ireland - M&A Scorecard  Accelerated PLC growth √  €14m synergies On track  Cross-territory brands Ongoing  Robinsons / Fruit Shoot / J2O etc √  A leading position in Ireland √  Positive growing franchise relationship √ 7UP / Pepsi

23. Slide 23: Summary

    Summary  The acquisition has enhanced Britvic Ireland and the group  Britvic Ireland is a strong player with real breadth to the portfolio operating in a long-term growth market  A real demonstration of the synergies that can be achieved in Britvic’s M&A strategy

24. Slide 24: Brands, Marketing and Innovation

    Brands, Marketing and Innovation Tess Shaw Marketing Director (Interim)

25. Slide 25: Agenda

    Agenda  Consumer Dynamics  The Irish consumer  Category growth drivers  Drivers of choice  Britvic Ireland’s brand portfolio  Core brands  Britvic GB - brand opportunities  Britvic brand integration - Robinsons, J20  7UP – unlocking the potential  Innovation  Successful track record  Fut

26. Slide 26: Consumer Dynamics

    Consumer Dynamics Four Key Consumer Trends Naturalness, Functional, Diet Health/ Well-Being Recycling, Labelling, Flavours, Emerging Ethical Indulgence Sourcing Sub-categories Convenience Pack Formats

27. Slide 27: Category Growth Drivers

    Category Growth Drivers 3-year volume CAGRs  The growing health & wellness trend has lead to pressure on Carbs -0.5% carbonates from packaged water, juice and functional drinks.  The poor summer weather has also affected consumption.  The growth in the water category is fuelled by a growing inter

28. Slide 28: Agenda

    Agenda  Consumer Dynamics  Consumer preference trends  Category growth drivers  Drivers of choice  Britvic Ireland’s Brand Portfolio  Core brands  Britvic GB - brand opportunities  Britvic brand integration - Robinsons, J20  7UP – unlocking the potential  Innovation  Successful track reco

29. Slide 29: Pre-Acquisition – A Strong and Resilient Portfolio

    Pre-Acquisition – A Strong and Resilient Portfolio No.1 lemon / lime brand Carbonates No.1 fruit flavoured brand No.1 apple carbonated brand No.1 value soft drinks brands No.2 cola brand No.1 squash brand Stills No.1 single serve juices Water No.1 water brand No.1 flavoured water brand Source: Canad

30. Slide 30: Britvic GB Brand Integration

    Britvic GB Brand Integration Robinsons range integrated 2008  NI – Live 18th February  ROI – Live 18th March  All listings secured Britvic J20 launched in Licensed 2007  1,000 outlets  Share growing to 5.2% Future Options  Robinsons & J20 innovation

31. Slide 31: Britvic GB Brand Integration - J2O

    Britvic GB Brand Integration - J2O ADVERTISING CAMPAIGN 50,000 CONSUMERS SAMPLED Radio reach 2 million Outdoor recall 40% 24– 40 year olds IN-PUB VISIBILITY PRESENCE at MAJOR FESTIVALS & EVENTS

32. Slide 32: Britvic GB Brand Integration - Britvic Juices

    Britvic GB Brand Integration - Britvic Juices Britvic Juices - Current Britvic Juices - New  Align brand identity with GB  Adding value to consumer proposition: improved formulations, more attractive pack  Introduction of new flavours: e.g. Apple & Pink Grapefruit  200ml returnable glass

33. Slide 33: Agenda

    Agenda  Consumer Dynamics  Consumer preference trends  Category growth drivers  Drivers of choice  Britvic Ireland’s Brand Portfolio  Core brands  Britvic GB - Brand opportunities  Britvic brand integration - Robinsons, J20  7UP – Unlocking the Potential  Innovation  Successful track reco

34. Slide 34: 7UP – Unlocking the Potential

    7UP – Unlocking the Potential An excellent brand-fitting platform Works for both Gatekeepers & Teens on Cut-Thru Scores While delivering on Performance with the Trade Synchronised activity has excited the Trade Feature Sales Display Uplift 180 +34% 23 +76% 20 +37% 300 +30%

35. Slide 35: Agenda

    Agenda  Consumer Dynamics  Consumer preference trends  Category growth drivers  Drivers of choice  Britvic Ireland’s brand portfolio  Core brands  Britvic GB - Brand opportunities  Britvic brand integration - Robinsons, J20  7UP – unlocking the potential  Innovation  Successful track reco

36. Slide 36: Innovation - Highlights 2004-2008

    Innovation - Highlights 2004-2008 Sports Drink Healthy RTDs Kids’ Water Juice Flavoured Water Health & Wellbeing Adult Still Carb Flavours Energy Drink Premium Juice Drink Indulgence New Packaging, Increased Choice 500ml 750ml 1.25 ltr Multipacks Convenience

37. Slide 37: Advert

    Advert BRITVI—

38. Slide 38: Innovation - Highlights 2004-2008

    Innovation - Highlights 2004-2008 Sports Drink Healthy RTDs Kids’ Water Juice Flavoured Water Health & Wellbeing Adult Still Carb Flavours Energy Drink Premium Juice Drink Indulgence New Packaging, Increased Choice 500ml 750ml 1.25 ltr Multipacks Convenience

39. Slide 39: Innovation – The Future

    Innovation – The Future Strategy  Leveraging assets: existing brands, Innovation Funnel 2008 in-house R&D capability  Aligned to consumer trends: Health & Wellbeing, Indulgence, Convenience, LAUNCH Ethical EVALUATION  Deployment of robust development & evaluation model – facilitation to fast- tra

40. Slide 40: Summary

    Summary  Strong brands in a long-term growing market  A broad portfolio from premiumised to value propositions  Great insight into the drivers of Irish soft drink consumption  Plenty of GB brand integration opportunities  Real potential to drive Pepsi’s brands  Successful innovation in Ireland

41. Slide 41: Grocery Overview

    GROCERY OVERVIEW Donald Williamson Commercial Director, Grocery

42. Slide 42: Agenda

    Agenda  The Irish grocery soft-drink market  Dynamics, and differences to GB  Britvic Ireland Grocery  Long term growth fundamentals  Opportunities  The customer map  Market share  Route to market  The future for Britvic Ireland Grocery

43. Slide 43: Total Grocery Market

    Total Grocery Market Total ROI Grocery Market - Retail Value Sales (€802 million) Dilutes Sports 4% 7% Cola Fruit 23% YOY growth Juices 6% CARBS 3.7% Juice Cola 3.4% Drinks Energy 12.9% 7% Lemonade 1.7% Fruit carbs -3.4% Mixers 2.9% Flavoured Adult -14.2% Water 3% Energy Non fruit carbs -53.5% 13% S

44. Slide 44: Grocery ROI Channel Split

    Grocery ROI Channel Split Total No of stores in 2007: 6,083 Forecourts Discounters Multiples 11% 3% 33% Symbol Groups 22% Independents 31% Source AC Nielsen Market Track Value MAT 29 June 08 Inc Dunnes and Disc

45. Slide 45: Ireland and GB

    Ireland and GB how we differ in the Grocery sector Ireland GB  Market skewed towards  Market skewed more carbs towards stills  Scale and size smaller  Retailers usually have plc status  More local influence  Own-label has a bigger  Route to market presence fragmented

46. Slide 46: Agenda

    Agenda  The Irish grocery soft-drink market  Dynamics, and differences to GB  Britvic Ireland Grocery  Long term growth fundamentals  Opportunities  The customer map  Market share  Route to market  The future for Britvic Ireland Grocery

47. Slide 47: Long-term Growth Fundamentals

    Long-term Growth Fundamentals Leadership and High Ability to Leverage Share of Key Categories Relationships allows us lead on promotions with retailers operating in and innovation Ireland and GB Our Scale GROCERY Route to Market Coverage Infrastructure gives us real scale gives us great distribution

48. Slide 48: Britvic Ireland Grocery Opportunities

    Britvic Ireland Grocery Opportunities Our Scale in Bottled Water Local Retailers allows us access to allows speed to consumers at work / leisure market supporting Ballygowan We Play in All Key OPPORTUNITIES Discounters Categories are an opportunity for with room to grow in incremental growth all Fra

49. Slide 49: Customer Relationship Management

    Customer Relationship Management We have strong & growing relationships with all major retailers

50. Slide 50: Market Position

    Market Position Carbonates (€457m) + Stills (€185m) + Water (€160m) Total (€802m) = Strength in every category makes us customer choice for total soft drinks category Source AC Nielsen Market Track Value MAT 29 June 08 Inc Dunnes and

51. Slide 51: Britvic Ireland Grocery – Route to Market

    Britvic Ireland Grocery – Route to Market Ballygowan Water Britvic Northern Britvic ROI Cooler Division Ireland Central Grocery Central Grocery Direct Sales Contractors Direct Sales Warehouse Wholesale Warehouse Wholesale 3,853 Accounts 12,000 Accounts 1,401 Accounts We deliver to or influence 95% o

52. Slide 52: Leading Grocery Brand Portfolio

    Leading Grocery Brand Portfolio CSDs WATER No.1 in L&L Flavour No.1 Water Brand 7UP Ballygowan No.1 in Orange Flavour No.2 Flavoured Water Club Brand No.2 in Cola Flavour 7UP H2oh! Pepsi SPORTS DILUTES No.3 Sports Brand Energise Sport No.1 Dilutes Brand Mi Wadi Ready-to Drink No.3 Manufacturer RTDs

53. Slide 53: Robinsons has Strengthened the Portfolio

    Robinsons has Strengthened the Portfolio In squash we now have over 70% share

54. Slide 54: Ballygowan Bulk Water

    Ballygowan Bulk Water  No.1 in the market – 44% share  12,000 Customers  Leaders in innovation:  Equipment  Customer Relationship Management  Contractor efficiency Source: BCI industry data

55. Slide 55: Agenda

    Agenda  The Irish grocery soft-drink market  Dynamics, and differences to GB  Britvic Ireland Grocery  Long term growth fundamentals  Opportunities  The customer map  Market share  Route to market  The future for Britvic Ireland Grocery

56. Slide 56: Summary

    Summary The Future of Britvic Ireland Grocery Customer profile allows us to innovate with real success A well-balanced Speed and scale and resilient gives great launch capability quickly portfolio gives us scope A continuing focus on the key categories for and opportunity growth is the priority to g

57. Slide 57: Britvic Licensed Wholesale

    BRITVIC LICENSED WHOLESALE Finbarr O'Doherty Commercial Director

58. Slide 58: Agenda

    Agenda  The Licensed On-Premise Market  Size of the market  The short-term challenges  Britvic Ireland’s strong position  Similar and different dynamics to the GB on-trade  Britvic Licensed Wholesale  What it is and why we do it  Routes to market  Key advantages

59. Slide 59: Licensed On-Premise – the Categories

    Licensed On-Premise – the Categories Licensed On-Premise by Retail Value Sales (€487 million) Lemon & Lime Mixers 14% 13% Fruit Juices 5% Water 10% Cola 26% Flavoured Carbs Sport Energy 17% 14% Carbs Stills Source: AC Nielsen Licensed On premise data June 2008 MAT

60. Slide 60: Licensed On-Premise Total Outlets

    Licensed On-Premise Total Outlets Hot el s P ubs P ubs 2005 2006 2007 8, 750 910 8, 800 904 900 890 7, 800 880 7, 500 870 870 860 6, 800 850 2005 2006 2007 2008 2005 2006 2007 2008

61. Slide 61: The Licensed On-Premise Market

    The Licensed On-Premise Market Key issues: How has trade responded?  Legislation  Pub population now normalised  Smoking ban  Random breath tests  Lifestyle adjustments complete  Licensed hours reduced  How will Britvic thrive?  Economic  Brands  Over populated pub market  Distribution 

62. Slide 62: The Irish Licensed On-Premise Market

    The Irish Licensed On-Premise Market

63. Slide 63: Strong market positions

    Strong market positions Gleesons Juices (€26M) All Other + Carbonates (€415M) All Other + Water (€46M) All Other 12% 15% 11% 4% Red Bull Gleesons 11% 15% Coca Cola Coca 10% Coca Cola Britvic Britvic Cola 44% 20% Britvic Ireland Ireland Ireland 71% 34% 53% Total Licensed On-Trade (€487M) Coca Britvic

64. Slide 64: Ireland and GB

    Ireland and GB how we differ in the on-trade Ireland GB Highly fragmented trade Chains/Groups Local National Significant tenanted/leased Owner managed sector Returnable Non-returnable/dispense

65. Slide 65: Common Issues across Ireland and GB

    Common Issues across Ireland and GB Smoking Ban Strict drink driving legislation Movement of beer sales from on-trade to off-trade Increasing food sales through smart family-led outlets A significant opportunity for soft drinks

66. Slide 66: Agenda

    Agenda  The Licensed On-Premise Market  Size of the market  The short-term challenges  Britvic Ireland’s strong position  Similar and different dynamics to the GB on-trade  Britvic Licensed Wholesale  What it is and why we do it  Routes to market  Key advantages

67. Slide 67: Wholesaling?

    Less reliance on LTDs Direct Attract access 3rd party to trade agency brands Why Wholesaling? Route to market Route to market for secondary for brands key soft drinks

68. Slide 68: Britvic Licensed Wholesale

    Britvic Licensed Wholesale Commercial Director Marketing Manager 6 x RSMs 2 x Key Accts 29 x Reps Sales Admin 3 x BIRs 2 x Brand Mgrs Mktng/Cat Analyst Alcohol Non-Alcohol

69. Slide 69: Britvic Licensed Wholesale Route to Market Strategy

    Britvic Licensed Wholesale Route to Market Strategy Britvic Licensed Wholesale Brands Agency Supermarket Wholesale Groups Independent Groups Direct Salesforce Heineken Group Wholesalers Independent Off- 3,500+ Accounts Diageo e.g. Gleesons Trade Cash & Carries On-Trade 7,500 Outlets Retail Trade Off

70. Slide 70: Britvic Licensed Wholesale Advantages

    Britvic Licensed Wholesale Advantages Total packaged solution Full Range beer/soft drinks/mixers/waters Competitive pricing. Leverage full range to maximise Value profitability. Secondary brand pricing Customer care. Collection of empties. Weekly/bi weekly Service sales calls. 24 hr delivery. Direct

71. Slide 71: Guinness

    GUINNESS 7] B RITVIC

72. Slide 72: Case study: Energise Edge

    Case study: Energise Edge Launched October 2007 3 years Energy share objective 10% Year 1 achieved... 9.1%

73. Slide 73: Summary

    Summary A market with short-term challenges but real Britvic is the number 1 player long-term growth A strong and unique route to market A well-positioned business for future growth

74. Slide 74: Agenda

    Agenda Setting the Scene Billy O’Regan 8.45 Brands, Innovation and Marketing Tess Shaw 9.15 Grocery Overview Donald Williamson 9.30 Licensed Wholesale Finbarr O’Doherty 9.45 Break 10.00 An Update on Synergies Paddy Heade 10.30 Q&A Paul Moody 11.00 Britvic GB – Innovation, Marketing and Simon Stewart

75. Slide 75: An Update on Synergies

    AN UPDATE ON SYNERGIES Paddy Heade Finance Director

76. Slide 76: Agenda

    Agenda  A reminder of the synergies case  Infrastructure in context of Ireland  Synergies progress  Additional synergies  Margin ambitions for Britvic Ireland

77. Slide 77: A Reminder of the Synergies Case

    A Reminder of the Synergies Case Target by end of FY09 - €14m, of which one third would be realised this year  €3m revenue efficiencies – mainly from FY09  The cost efficiencies focused mainly on supply chain and include the following:  One-off working capital  increased utilisation of the benef

78. Slide 78: Agenda

    Agenda  A reminder of the synergies case  Infrastructure in context of Ireland  Synergies progress  Additional synergies  Margin ambitions for Britvic Ireland

79. Slide 79: Previous Supply Chain Infrastructure

    Previous Supply Chain Infrastructure  Three production plants Dublin, Cork, Ballygowan  Major logistics hubs Dublin, Cork, Belfast  Secondary hubs Waterford, Donegal  Headcount 580  Manufacturing 260  Logistics 320  Producing over 400 SKU’s  Making 40 cases of product every minute  Selling

80. Slide 80: Supply Chain Dynamics

    Supply Chain Dynamics Challenges  Fragmented customer base  Fewer centralised deliveries  Fragmented supplier base Britvic Ireland Key Levers  Scale and reach  Trade relationship  Up-weighted procurement capability

81. Slide 81: Production Case Study

    Production Case Study Cork and Dublin factories  Closure of Cork manufacturing site  €7.6m investment in Dublin  Cost savings / efficiencies €4m p.a. by the end of FY09

82. Slide 82: Procurement Case Study

    Procurement Case Study focus on raw materials  €1.5m synergies in plan this year – will be delivered  A further €0.5m benefit in FY09 Non-Pepsi Sugar Closures PET Concentrate

83. Slide 83: Logistics Case Study

    Logistics Case Study focus on distribution  Robinsons portfolio integration  Britvic International savings  Improved Sales and Operations planning

84. Slide 84: Agenda

    Agenda  A reminder of the synergies case  Infrastructure in context of Ireland  Synergies progress  Additional synergies  Margin ambitions for Britvic Ireland

85. Slide 85: Synergies Progress to Date

    Synergies Progress to Date Yr one target on track for Ireland of €4.5m  Raw materials €1.5m  Indirect procurement €1.0m  Logistics/supply €0.6m  Procurement in GB €0.3m  Britvic International overhead €1.1m

86. Slide 86: Achieving the €14m

    Achieving the €14m by the end of next year Main delivery areas identified at purchase  Three production sites to two  Procurement – direct and indirect  Increased organic growth  International savings All of the above areas are on track

87. Slide 87: Agenda

    Agenda  A reminder of the synergies case  Infrastructure in context of Ireland  Synergies progress  Additional synergies  Margin ambitions for Britvic Ireland

88. Slide 88: Additional Synergies

    Additional Synergies other areas identified  Robinsons  Insurance  Procurement Business Transformation/SAP

89. Slide 89: Business Transformation in GB

    Business Transformation in GB a reminder

90. Slide 90: Business Transformation in GB

    Business Transformation in GB a template for Ireland Core to strategy Wall to Wall SAP vision GB’s Business Transformation  Capex of c£35m  Cost savings of £18m  Working capital savings of £17m Similar benefits to investment equation in Ireland, on a smaller capex investment of c€10m Best in clas

91. Slide 91: SAP in Ireland

    SAP in Ireland the journey  Core to our Strategy  Phase 1 – April 2009 – Finance modules  Two further phases  Estimated completion in 2010

92. Slide 92: Process Alignment

    Process Alignment Core Transaction processes Single way of working Consistency across Britvic PLC Effectiveness and Efficiency Driving circa €1m benefits annually

93. Slide 93: Procurement Benefits

    Procurement Benefits Process embedded in the organisation €2m Segregation of incremental Duties benefits annually Improved Supplier Supplier consolidation relationships Control and visibility of Spend

94. Slide 94: Sales side / CRM benefits

    Sales side / CRM benefits Pricing strategy is critical Improve relationships with customers Identify spend that is working / not working Adapt rapidly to changing market needs and trends

95. Slide 95: Business Performance Management

    Business Performance Management One truth Insights, not just data Key measures tracked consistently

96. Slide 96: A Summary of the Synergies: Britvic Group

    A Summary of the Synergies: Britvic Group FY11 and FY08 FY09 FY10 thereafter (€m) (€m) (€m) (€m) Raw materials 1.5 2.0 2.0 2.0 Indirect procurement 1.0 2.0 2.0 2.0 Logistics/Supply 0.6 5.5 5.5 5.5 Procurement in GB 0.3 0.4 0.4 0.4 Britvic International 1.1 1.1 1.1 1.1 costs Revenue 3.0 3.0 3.0 Other

97. Slide 97: Agenda

    Agenda  A reminder of the synergies case  Infrastructure in context of Ireland  Synergies progress  Additional synergies  Margin ambitions for Britvic Ireland

98. Slide 98: A Summary of our Financial Ambitions

    A Summary of our Financial Ambitions Deliver the synergies+++ An EBIT margin of 10% by the end of FY10 LEARNINGS FROM BRITVIC IRELAND A showcase for driving real synergies Demonstrates the potential of further M&A

99. Slide 99: Q&A

    Q&A Paul Moody Chief Executive

100. Slide 100: Innovation & Marketing

     INNOVATION & MARKETING Simon Stewart Marketing Director, Britvic plc

101. Slide 101: Introduction & Biography

     Introduction & Biography  Market Research in Adelaide, Australia  Brand Manager, Power Brewing in Brisbane  Various local, regional and global marketing and strategy positions, with the Coca-Cola Company Working with CCA, CCE and Femsa  Vice President Global Smirnoff Marketing with Diageo  SVP

102. Slide 102: Agenda

     Agenda  Soft drinks in a downturn - discretionary or staple?  An update on the 2008 Innovation and Product Launch programme  drench  Gatorade  Raw  V Water  New product launches  The evolving approach to marketing

103. Slide 103: Soft Drinks Can Show Resilience in Developed Economies

     Soft Drinks Can Show Resilience in Developed Economies  Per capita consumption going back to the 90’s shows resilience of category despite UK Per Capita Consumption (Ltrs) economic conditions 300  Surges are more linked with exceptional summer and 250 conditions Soft Drinks Milk/Milk Drinks Hot Dr

104. Slide 104: Soft Drinks, Discretionary or Staple

     Soft Drinks, Discretionary or Staple  There is a relationship between per capita consumption and GDP  Soft drinks in developed western economies are a tiny percentage of discretionary income  Within developed markets with relatively high per-capita soft drinks consumption, they are more of a stap

105. Slide 105: Agenda

     Agenda  Soft drinks in a downturn - discretionary or staple?  An update on the 2008 Innovation and Product Launch programme  drench  Gatorade  Raw  V Water  New product launches  The evolving approach to marketing

106. Slide 106: drench – the concept

     drench – the concept  Insight: “I kind of know drinking bottled water throughout the day is a good thing to do, but I’m not sure of specific benefits… Water brands are a bit dull and don’t talk about benefits; they talk about hill and mountains”  Target Consumer: Working adults interested in being

107. Slide 107: drench – the concept

     drench – the concept  Reasons to Believe: Drench, just the name reminds me to hydrate Mental hydration: gives me a compelling reason to drink bottled water and makes water fun and more interesting  Packaging: 500ml, 750ml, 1.5ltr and 2ltr Plastic Bottle and multi- packs  Price: Just below the mar

108. Slide 108: drench – how we’ve performed

     drench – how we’ve performed  Consumer Measures – Best tracked Britvic campaign in Britvic’s history  Campaign delivered on  Fun and mental hydration  Awareness from 8% to 35% in 4 weeks  Huge internet interest  40,000 blogs  Over 2 million You-Tube views (Eclipsing the Cadbury gorilla)  121

109. Slide 109: Advert

     Advert

110. Slide 110: History of Gatorade

     History of Gatorade • Video

111. Slide 111: The Gatorade concept

     The Gatorade concept  Insight: “I want something that will help my performance but I‟m put off drinking sports drinks regularly because they are full of artificial stuff. I also feel they are aimed at young blokes, not me”  Target Consumer: Committed Exercisers (male / female), Social Players (mos

112. Slide 112: Gatorade – how we’ve performed

     Gatorade – how we’ve performed Consumer Measures:  Top 6 ROS across all sports drinks in total take home – ahead of Lucozade Hydroactive, Lucozade Sport Tropical, Lucozade Sport Lemon Boost and Powerade Orange  6% value share of category – more than Lucozade Hydractive and Private Label  25% repe

113. Slide 113: Gatorade – how we’ve performed

     Gatorade – how we’ve performed Campaign Delivered:  47% prompted brand awareness amongst core target (Vs Powerade 62%)  Advertising Salience levels of 76% amongst target audience (Vs „strong‟ H&P benchmark level of 61%)  Top 2 box Brand Preference scores at parity with Powerade Distribution:  79

114. Slide 114: Pepsi Raw

115. Slide 115: Pepsi Raw: the concept

     Pepsi Raw: the concept  Insight: “I enjoy the taste of cola but I’m concerned that its full of artificial ingredients”  Target Consumer: Young social urbanites and active females balancing modern day time pressures (aged 25-45)  Ingredients: Sparkling water, naturally sourced ingredients and noth

116. Slide 116: Pepsi Raw

     Pepsi Raw the FIRST natural cola has kicked off in style! Available in over With a broader Fantastic PR! 3000 bars! rollout underway

117. Slide 117: How has the Raw positioning changed?

     How has the Raw positioning changed? 2008: A Premium Natural Cola Concern this could have resulted in a niche play which did not make the most of a genuine innovation, and our first mover advantage. 2009: The Mainstream Natural Cola … worth paying more for Priority becomes creating a scale play more

118. Slide 118: There's something in the water

     There's something in the water POMEGRANAT Theres something in the water” @ BLUEBERR

119. Slide 119: V Water

     V Water  Insight: To feel healthy when busy lifestyles make it hard to stay on top of my game  Target Consumer: ABI consumers living and working in urban environments  Benefits: Glow De-stress Shield Kick Detox Vital V  Reasons to Believe: V Water is formulated for the UK tastebuds. Reduced calo

120. Slide 120: Agenda

     Agenda  Soft drinks in a downturn - discretionary or staple?  An update on the 2008 Innovation and Product Launch programme  drench  Gatorade  Raw  V Water  New product launches  The evolving approach to marketing

121. Slide 121: Introducing Robinsons Be Natural

     Introducing Robinsons Be Natural Insight: Squash tastes great, is Why Be Natural? convenient and goes a long way but I prefer my family to  Consumers looking have more natural food and for more natural food drink and drink is growing at 15% YOY (Hygeia Target Consumer: Families with research 2008)

122. Slide 122: Gatorade Blackcurrant - The Concept

     Gatorade Blackcurrant - The Concept Insight: I want something that will help my performance but I’m put off drinking sports drinks regularly because they are full of artificial stuff. I also feel they are aimed at young blokes, not me. An alternative choice to the citrus flavours in the market would

123. Slide 123: Agenda

     Agenda  Soft drinks in a downturn - discretionary or staple?  An update on the 2008 Innovation and Product Launch programme  drench  Gatorade  Raw  V Water  New product launches  The evolving approach to marketing

124. Slide 124: Marketing Will Become Focused on Core and Seed Trademarks

     Marketing Will Become Focused on Core and Seed Trademarks  Allocation of resources against consumer need states we can win against competition  Setting clear re-investment rates against core and seed brands  Manage and trade the tail brands for value and portfolio benefit Core Trademarks Seed Tra

125. Slide 125: Marketing Strategy

     Marketing Strategy How can we create shareholder value? Organisational Supplier Development Strategy Britvic Marketing Innovation Portfolio Strategy Strategy

126. Slide 126: Marketing Vision – Turning us outside in

     Marketing Vision – Turning us outside in Leadership ethos: Leadership and Service To provide superior Key Objective: shareholder value through value growth of core brands and focused innovation  Clear  Provide  Provide  Provide a  Provide an OBJECTIVE Trademark superior service to the focused e

127. Slide 127: Key programmes 08 / 09

     Key programmes 08 / 09  Re-vitalise Tango – return to core roots  Refocus J2O – accelerate sales and distribution in non-pub channels  Capitalise on Robinsons family credentials  Innovate into higher ARP with Robinsons  Focus on pack and mix growth in Pepsi  Move into new occasions through pac

128. Slide 128: Britvic GB Innovation – Activity 08/09

     Britvic GB Innovation –Activity 08/09 Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Robinsons Dilutables Robinsons Be Natural Fruit Shoot Re-stage Live Pepsi Max New Creative Max kicks 2 500ml drive Tango PR Campaign Re-launch J20 Re-launch

129. Slide 129: Advert

     Advert Mw BRITVIC

130. Slide 130: Summary

     Summary A strong and consistently high- Britvic GB has a resilient performing portfolio portfolio in a defensive market Delivered a successful innovation programme in 08 Well-positioned for even stronger marketing execution and a great 09 innovation programme Focused on the creation of shareholder v

131. Slide 131: Close of Presentations

     Close of Presentations Paul Moody

132. Slide 132: Agenda

     Agenda Setting the Scene Billy O’Regan 8.45 Brands, Innovation and Marketing Tess Shaw 9.15 Grocery Overview Donald Williamson 9.30 Licensed Wholesale Finbarr O’Doherty 9.45 Break 10.00 An Update on Synergies Paddy Heade 10.30 Q&A Paul Moody 11.00 Britvic GB – Innovation, Marketing and Simon Stewart

133. Slide 133: Lunch

     \I BRITVIC Lunch

134. Slide 134: Biographies

     \I BRITVIC d BIOGRAPHIES

135. Slide 135: Billy O’Regan

     Billy O’Regan  Appointed MD of C&C Soft Drinks Business in April 2006. Prior to this he was responsible for Northern Foods Frozen Foods Division and for centralising the Group’s Procurement Function  Managing Director of Green Isle Foods Group 2001- 03 having joined as Manufacturing Director in 19

136. Slide 136: Marketing

     Marketing Tess Shaw – Marketing Director (interim)  Twenty year’s marketing experience working with blue-chip companies including previous roles within GSK, Proctor & Gamble and Cadbury Schweppes. Based in the UK from 1989- 2002 working a national & international basis. Has operated at Marketing Di

137. Slide 137: Donald Williamson

     Donald Williamson  7 years with Britvic Ireland  Previous role as Head of Sales  Ex Coca-Cola Hellenic - 11 years, various roles  Soft drink experience 18 yrs  Previous experience includes stints at Bass and Sterling Winthrop

138. Slide 138: Finbarr O’Doherty

     Finbarr O’Doherty  4.5 years in the company  Previously  General Manager, Woodford Bourne, subsidiary of DCC  General Manager, Deasy & Co Ltd, subsidiary of Diageo  Country Manager, Scandinavia & Baltics, Diageo  Graduate of Trinity College Dublin, Mathematical Sciences

139. Slide 139: Paddy Heade

     Paddy Heade  1 year in the business  Ex-Diageo (17 years) experience  Global Travel and Middle East FD  Supply Chain  GB  Asia  Ireland

Britvic — Investor Day (September 2008) on 6ix