Grupo Bimbo Sab De Cv Class A · BMV:BIMBO/A
Grupo Bimbo Sab De Cv Class A — Debt Investor Presentation (2012)
29 slides from Grupo Bimbo Sab De Cv Class A's debt investor presentation, 2012
Slide 1: Investor Presentation 2Q12
Investor Presentation 2Q12 January 2012 1
Slide 2: Grupo Bimbo
Grupo Bimbo Leading Global Bakery Company Strong Brand & Broad Product Portfolio Grupo Bimbo (“GB”) is one of the largest bakeries in the world Over 10,000 products and more than 100 renowned brands of a and one of the largest packaged food players with presence in wide variety of baked goods, s
Slide 3: Broad Asset Base
Broad Asset Base Control Group Float 76% 24% Central & Mexico USA South America Iberia Asia1 Plants Routes Distribution Centers POS1 Associates 153 +51,000 +1,600 +2.1 million +127,000 1. Asia’s results are included in Mexico Page 3
Slide 4: Leader in Core Product Categories in Key Markets
Leader in Core Product Categories in Key Markets LTM Revenue Breakdown (US$12.1 Bn)2 Iberia United States 2% LatAm Leader nationwide Portugal & Spain #1 in premium brands #1 in packaged 14% #1 in English muffins baked goods Mexico #1 portfolio of Hispanic brands1 Leading brands in 41%
Slide 5: Accelerated International Expansion
Successful Growth Case Acquisitions Have Been a Key Component Driving Growth Successful growth story through a combination of organic growth, strategic acquisitions 2011 combined with a conservative financial policy Accelerated International Expansion Acquisitions have been a strong driver of grow
Slide 6: Key Success Drivers
Key Success Drivers Long Run Player Dedication Innovation in a Very & to Bakery Attractive and Brand Equity Industry Deep Consumer Non-Cyclical Understanding Industry Over the last decade GB shifted from a strong local player to a leader in the Americas Experienced Exceptional & Socially & Responsib
Slide 7: Leading Player in an Attractive Non-Cyclical Industry
Leading Player in an Attractive Non- Cyclical Industry 1 LTM Revenues in US$MM Attractive Resilience to economic downturns 12,941 Industry Non-discretionary consumer products + 881 10,428 Fundamentals High consumption frequency 12,060 8,121 + 2,870 2,770 Highly fragmented industry (products
Slide 8: Strong Brand Equity and Deep Consumer Understanding
Strong Brand Equity and Deep Consumer Understanding Grupo Bimbo has built an unrivaled international Extraordinary Consumer Awareness of Brands portfolio of brands fueled by first class innovation Strong track record of creating, nurturing and Innovation is a key determinant to achieve strong ma
Slide 9: Exceptional Distribution Network and Manufacturing Facilities
Exceptional Distribution Network and Manufacturing Facilities Manufacturing footprint and extensive distribution Unparallel Distribution Network reach are key for local execution GB’s DSD1 network is one of the largest fleets in the World Class Manufacturing Americas and represents a major competi
Slide 10: Seasoned Management Team, Sound Governance & Strong Corporate Identity
Seasoned Management Team, Sound Governance & Strong Corporate Identity Management Board of Directors Positioned the Company as market leader in the products and countries where present Audit & Corporate Compensation & Finance & Planning Proven track record of stability and sustainable growth Pra
Slide 11: Strong Financial Performance
Strong Financial Performance Revenue Growth1 EBITDA Growth1 (US$ in millions) (US$ in millions) EBITDA Margin 12,060 10,750 9,270 1,172 1,224 1,220 1,148 8,609 7,392 883 6,615 791 -7 -23 2007 2008 2009 2010 2011 LTM 2Q12 2007 2008 2009 2010 2011 LTM 2Q12 Latin America U.S. Mexico GB 12.0% 11.9% 13.6
Slide 12: Cash Flow Stability Across Time
Cash Flow Stability Across Time Best-in-Class execution combined with a relentless focus on low cost operation in a resilient industry, result in financial stability over time EBIT Margin EBITDA Margin Gross Margin Commodities Commodities 56.2 56.7 54.8 53.7 54.0 53.3 53.1 53.3 53.0 53.4 52.8 52.8 5
Slide 13: Responsible Financial Policies
Responsible Financial Policies Responsible financial management Leverage Total Debt/EBITDA Flexible and healthy capital structure #REF! 3.3x 1 Net Debt/ EBITDA 3.1x 2.9x Achieve rapid deleveraging 2.3x 2.2x 2.8x 2.6x Target Debt/EBITDA < 2x 1.9x 1.2x 1.1x 2.0x Strong commitment to Investment Grade
Slide 14: Responsible Financial Management (June 2012)
Responsible Financial Management (June 2012) January 2012: US$800 million of 4.50% notes due 2022 under the Reg-S Rule February 2012: Ps 5,000 million Certificados Bursátiles (domestic bonds) at a fixed rate of 6.83% with a 6.5 year tenor Current undrawn committed medium-term facilities for US
Slide 15: Strong Corporate Identity
Strong Corporate Identity Grupo Bimbo ranks among the 20 most respected companies in the world (1) Its reputation is built on a strong corporate identity and brand equity Key component of Grupo Bimbo’s corporate identity is its company-wide Social Responsibility Program Corporate Social Respon
Slide 16: Looking Ahead
Looking Ahead 16
Slide 17: Time to Integrate
Time to Integrate A Transition Year… Synergistic Transaction Long Term Vision- Do It Right One time costs are necessary to IT Efficient operation with value capture synergies (US$150mm) Leadership Manufacturing creation to consumers Growth 1. Cost Distribution Strong CF generation S&A EFICIENCY Indu
Slide 18: Time to Invest
Time to Invest Our Strong Cash Flow Generation Backs our Aggressive Investment Investments are clearly focused on productivity US synergies- reconfigure manufacturing print Streamline manufacturing capabilities Low- Cost Producer LatAm- Build scale and market penetration Next couple of years…CAPEX a
Slide 19: Time to Deleverage
Time to Deleverage Historic Debt/ EBITDA Strong Deleverage Capabilities Across Time S&P| Moody’s | Fitch BBB+ | Baa1 mxAAA | Aaa.mx | AAA(mex) BBB | Baa2 | BBB BBB | Baa2 mxAAA | Aaa.mx | AAA(mex) MxAA+ | Aa1.mx | AA+(mex) 3.3x1 3.1x 2.9x 2.5x 2.2x 1.9x 2.3x 1.5x 1.1x 1.2x 1.1x 0.9x 0.7x 2000 2001 2
Slide 20: Why Grupo Bimbo? We Believe and We Create
Why Grupo Bimbo? “We Believe and We Create” Strongly positioned in Consistency Stable Cash Value Local & and Focus on Flows International Core Business Indexes 5-yr Return EBIT Margin EBITDA Margin Gross Margin 56.2 56.7 105.2% 53.3 48.6 51.2 53.1 54.8 53.7 53.3 53.0 54.0 53.4 52.8 51.1 52.8 52.8 51
Slide 21: Why Grupo Bimbo?
Why Grupo Bimbo? Solid Succesful Strict Responsible investment Deleveraging Reinvestment Financial grade credit history Policy Management metrics • Flexible and healthy capital structure 3.3x 3.1x • Achieve rapid leveraging: 2.9x S&P Moody’s Fitch Top Notch of Target Debt/EBITDA < 2x 2.5x 2.4x BBB |
Slide 22: Financials by Region & Recent Acquisitions
Financials by Region & Recent Acquisitions 22
Slide 23: GB- Quarterly Results
GB- Quarterly Results Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 41.2% 10.5% 9.5% 10.0% 84,258 43.4% 7.8% 7.4% 38.7% 7.0% 5,974 6,261 43,266 59,664 40,919 3,095 3,355 2,883 2,859 29,500 30,164 1Q 2Q 6M 1Q 2Q 6M EBITDA '11 EBITDA '12 Sales '11 Sales '12 Better cost
Slide 24: Mexico- Quarterly Results
Mexico- Quarterly Results Revenue Growth (Mexico) EBITDA Growth (Mexico) (MXN$ in millions) (MXN$ in millions) 12.6% 12.2% 11.5% 11.6% 13.7% 11.5% 10.8% 10.8% 11.3% 34,514 17,435 30,651 3,896 17,078 3,545 15,328 15,323 1,963 1,870 1,888 1,656 1Q 2Q 6M 1Q 2Q 6M EBITDA '11 EBITDA '12 Sales '11 Sales '
Slide 25: USA- Quarterly Results
USA- Quarterly Results Revenue Growth (USA) EBITDA Growth (USA) (MXN$ in millions) 71.3% (MXN$ in millions) 10.9% 10.8% 10.9% 80.2% 38,567 4.7% 6.0% 62.1% 7.2% 2,454 2,320 20,706 17,861 22,509 1,482 1,198 1,245 840 11,017 11,492 1Q 2Q 6M 1Q 2Q 6M Sales '11 Sales '12 EBITDA '11 EBITDA '12 Productiv
Slide 26: OLA- Quarterly Results
OLA- Quarterly Results Revenue Growth (OLA) EBITDA Growth (OLA) (MXN$ in millions) (MXN$ in millions) 36.5% 33.0% 4.7% 38.3% 2.4% 10,939 0.5% 5,370 5,495 8,015 0.6% 3,882 4,133 -0.9% -0.4% 251 266 23 27 -37 -28 1Q 2Q 6M 1Q 2Q 6M Sales '11 Sales '12 EBITDA '11 EBITDA '12 EBITDA margin '11 EBITDA marg
Slide 27: Recent Acquisitions- Sara Lee North American Fresh Bakery
Recent Acquisitions- Each transaction is driven by strong strategic rationale and business case, resulting in significant value creation Sara Lee North American Fresh Bakery - Earthgrains Synergies(d) Pro Forma(b) Acquired for an all-cash purchase price of US$709 million (Initial value: US$959 mil
Slide 28: Recent Acquisitions- Sara Lee Spain and Portugal, Fargo Brands
Recent Acquisitions- Each transaction is driven by strong strategic rationale and business case, resulting in significant value creation Sara Lee Spain and Portugal Fargo Brands Acquired for an all-cash purchase price of €115 million This acquisition will further strengthen Grupo Bimbo’s regiona
Slide 29: Disclaimer
The information contained herein has been prepared by Grupo Bimbo, S.A.B. de C.V. (the “Company") solely for use at presentations held in connection with the proposed offering of senior guaranteed notes of the Company (the “Transaction”). The information herein is only a summary and does not purport