Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Investor Presentation (2010)
25 slides from Embotelladora Andina SA's investor presentation, 2010
Slide 1: AKO.A AKO.B
AKO.A AKO.B NYSE. NYSE
Slide 2: Consolidated Overview
Consolidated Overview (December 2009) Ranked 7th Coca-Cola bottler in the world 452 MUCs 2.5 billion liters Revenues US$ 1.5 billion EBITDA US$ 317 million Market Capitalization (March 2010) US$ 2.4 billion Inhabitants 3 Franchises 37 million Direct Employees 6,225 people Distribution Fleet 1,336 tr
Slide 3: History
History 1946 Embotelladora Andina becomes the Coca-Cola bottler in Chile 1985 Inversiones Freire acquires control of the Company 1994 Andina listed on the NYSE 1994 Rio de Janeiro Refrescos is acquired in Brazil 1995 & 1996 Embotelladora del Atlántico is acquired in Argentina 1996 TCCC acquires 11%
Slide 4: Ownership
Ownership (December 2009) Others 21.6% 52.6% • Series A Controlling 4Shareholders Chilean Families Chilean Pension 47.5% Funds 10.2% Coca-Cola 42.4% • Series B 11.0% ADRs 9.6% [4 ]
Slide 5: Regional Diversification
Regional Diversification (December 2009) Volume Revenues EBITDA 452 million unit cases US$ 1.5 billion US$ 317 million Argentina Argentina Argentina Chile 17% 32% 21% Chile 27% 37% Chile 43% Brazil Brazil 40% Brazil 42% 41% [5 ]
Slide 6: Summary
Summary (December 2009) Rio de Janeiro & Espirito Santo Franchise inhabitants: 18.0 million Total volume: 185 MMUCs Employees: 2,524 Metropolitan Region, San Antonio & Cachapoal Franchise inhabitants: 7.5 million Mendoza, San Juan, San Luis, Córdoba, Total volume: 146 MMUCs Santa Fe & Entre Ríos Emp
Slide 7: Operations in Chile
Operations in 1 Soft Drinks Plant • 8 Lines 1 Juice Plant • 4 Lines 1 Water Plant • 2 Lines 6 Distribution Centers • 400 Trucks 1 Special Formats & Canning Plant • 2 Lines New Plant (under construction) • 9 Lines (2 new + 7 used) [7 ]
Slide 8: Market Structure
Market Structure Soft Drinks Market Market Share Per Capita Consumption (volume) 409 Total Clients 68.5% 8 oz bottles per year 46,244 Format Mix Channel Mix Post Mix Wholesales 8% 4% Single-Serving 18% On Premise 13% Non-Returnables 34% Multi-Serving Supermarkets Mom & Pops Returnables 62% 82% 21% 5
Slide 9: Brand Portfolio
Brand Portfolio Soft Drinks • 88% Sales Volume Juices • 7% Sales Volume Waters • 5% Sales Volume [9]
Slide 10: Volume Growth
Volume Growth (million unit cases) CAGR 2.0% CAGR 9.9% CAGR 10.7% 5 years 5 years 5 years 160 140 16.8 17.9 14.6 13.5 120 11.8 22.9 23.0 18.0 245 15.5 100 80 60 98.1 101.0 99.4 104.7 105.0 40 20 0 2005 2006 2007 2008 2009 Regular Soft Drinks Diet Soft Drinks Juices and Waters [10]
Slide 11: Financial Highlights
Operations in Financial Highlights (nominal million US$) 2005 2006 2007 2008 2009 1Q10 1Q09 Net Sales 405,2 403,9 482,6 424,4 537,1 141,0 115,7 Operating Income 100,0 97,1 114,7 91,0 109,6 28,4 24,7 Operating Margin 24,7% 24,0% 23,8% 21,4% 20,4% 20,1% 21,3% EBITDA 126,0 121,1 139,8 115,1 138,1 36,3
Slide 12: Operations in Brazil
Operations in 2 Soft Drinks Plants • 11 Lines 5 Distribution Centers • 641 Trucks [12]
Slide 13: Market Structure
Market Structure Soft Drinks Market Consumo per cápita Market Share Per Capita 232 Consumption Clients (Volume) Botellas232 8 oz anuales 57,139 57.5% 8 oz bottles per year Format Mix Channel Mix Post Mix Returnables 3% 14% Single-Serving Wholesales Mom & Pops 29% 24% 24% On Premise Non-Returnables M
Slide 14: Brand Portfolio
Brand Portfolio Soft Drinks • 94% Sales Volume Juices • 3% Sales Volume Waters • 1% Sales Volume Beers • 2% Sales Volume [14]
Slide 15: Volume Growth
Volume Growth (million unit cases) CAGR 5.3% CAGR 6.4% CAGR 14.2% 5 years 5 years 5 years 200 11.7 180 9.9 10.5 7.1 160 6.0 20.5 17.0 23.2 22.5 140 16.0 120 153.1 100 141.7 141.0 80 138.4 60 131.7 40 20 0 2005 2006 2007 2008 2009 Regular Soft Drinks Diet Soft Drinks Juices, Waters & Beer [15]
Slide 16: Financial Highlights
Operations in Financial Highlights (nominal million US$) 2005 2006 2007 2008 2009 1Q10 1Q09 Net Sales 317,1 411,2 543,4 582,5 615,1 210,5 128,6 Operating Income 40,0 64,3 96,6 96,5 112,4 46,2 21,4 Operating Margin 12,6% 15,6% 17,8% 16,6% 18,3% 21,9% 16,7% EBITDA 57,5 82,6 116,6 118,9 130,7 52,7 25,5
Slide 17: Operations in Argentina
Operations in 1 Soft Drinks Plant • 7 Lines 1 Juice Plant • 1 Line 10 Distribution Centers • 259 Trucks [17]
Slide 18: Market Structure in Argentina
Market Structure in Soft Drinks Market Market Share Per Capita Consumption Clients (Volume) 255 45,901 52.8% 8 oz botttles per year Format Mix Channel Mix Post Post Mix Single-Serving Mix 3% 10% 1% Wholesales 27% Returnables Non-Returnables On Premise Mom & Pops 50% 49% Multi-Serving 50% 7% 90% Supe
Slide 19: Brand Portfolio in Argentina
Brand Portfolio in Soft Drinks • 98% Sales Volume Juices • 1% Sales Volume Waters • 1% Sales Volume [19]
Slide 20: Volume Growth in Argentina
Volume Growth in (million unit cases) CAGR 4.3% CAGR 12.1% CAGR 10.8% 5 years 5 years 5 years 140 1.9 3.0 120 1.4 1.7 1.3 10.3 9.6 6.7 9.8 100 5.5 80 60 109.9 108.3 93.7 100.8 103.8 40 20 0 2005 2006 2007 2008 2009 Regular Soft Drinks Diet Soft Drinks Juices and Waters [20]
Slide 21: Financial Highlights
Operations in Financial Highlights (nominal million US$) 2005 2006 2007 2008 2009 1Q10 1Q09 Net Sales 197,0 210,3 252,1 321,7 315,7 91,6 87,0 Operating Income 21,3 21,6 26,2 34,8 42,3 12,4 12,0 Operating Margin 10,8% 10,3% 10,4% 10,8% 13,4% 13,6% 13,8% EBITDA 34,4 34,4 39,3 47,6 56,2 16,0 14,5 EBITD
Slide 22: Consolidated Financial Highlights
Consolidated Financial Highlights (nominal million US$) 2005 2006 2007 2008 2009 1Q10 1Q09 Net Sales 909,8 1.018,0 1.271,6 1.322,9 1.465,4 443,2 330,6 Operating Income 152,0 178,8 232,2 217,8 256,5 85,1 56,6 Operating Margin 16,7% 17,6% 18,3% 16,5% 17,5% 19,2% 17,1% EBITDA 208,7 233,8 290,4 277,2 31
Slide 23: Consolidated Balance Sheet
Consolidated Balance Sheet (as of March 31, 2010) MUS$ MUS$ Cash & Cash Equivalents 318 Current Liabilities 225 Current Assets 239 Short Term Debt 24 Property, Plant & Equipment + Others 617 Long Term Debt 137 Goodwill 120 Long Term Liabilities 128 Shareholders' Equity 781 Total Assets 1.295 Total L
Slide 24: Dividend Distribution
Dividend Distribution (nominal million US$) 180 150 146 150 120 139 123 90 110 103 60 30 0 2005 2006 2007 2008 2009 2010 YTD Total dividends paid out since 2000 = US$1.2 billion Dividend Yield 2005 2006 2007 2008 2009 2010 Series A 7.8% 6.7% 7.6% 8.2% 5.7% 5.2% Series B 8.0% 6.8% 7.8% 7.4% 5.3% 4.8%
Slide 25: Visit our website
Visit our website www.embotelladoraandina.com [25]