Vina Concha y Toro S.A. · BCS:CONCHATORO
Vina Concha y Toro — Q3 2015 Earnings Presentation
25 slides from Vina Concha y Toro's earnings presentation, Nov 19, 2015
Slide 1: Investor Presentation 3Q2015 & 9M2015 Results
Investor Presentation 3Q2015 & 9M2015 Results November 19th, 2015
Slide 2: I. 2Q 2015 Results
I. 2Q 2015 Results 2
Slide 3: Highlights: 3Q 2015 vs 3Q 2014
Highlights: 3Q 2015 vs 3Q 2014 • Increase in sales: +14.7%. • Higher commercialized volumes: 7.7% • Increase in EBITDA: +28.9% EBITDA Margin: 16.3% (+179bp) • Increase in Net Income: +37.0% • Premiumization of exports sales, growth of 16.0% in volume (YTD). • Premiumization of domestic sales, grow
Slide 4: Performance 3Q 2015 vs 3Q 2014
Performance 3Q 2015 vs 3Q 2014 Consolidated Sales Operating Income (Million Ch$) (Million Ch$) Consolidated EBITDA Consolidated Net Profit (Million Ch$) (Million Ch$) 4
Slide 5: Sales Contribution by Origin 3Q 2015
Sales Contribution by Origin 3Q 2015 (Million Ch$) (Thousand liters) 5
Slide 6: Sales Contribution by Origin 9M 2015
Sales Contribution by Origin 9M 2015 (Million Ch$) (Thousand liters) 6
Slide 7: Consolidated Sales 9M2015
Consolidated Sales 9M2015 Consolidated Sales (million Ch$) Consolidated Volume (million 9 liter cases, Wine) 7
Slide 8: Export Sales 9M2015
Export Sales 9M2015 Export Sales Export Volume (million Ch$) (thousand 9 liter cases Average Export Price Premium Wines Export Volume (US$ / 9 liter Case) (thousand 9 liter cases) 8
Slide 9: Leading Position Over Chilean Exports
Leading Position Over Chilean Exports CyT Exports of Bottled Wine* Chilean Destination of Bottled Exports Volume Value 2004 29.2% 25.8% 2005 32.2% 27.2% 2006 33.4% 28.3% 2007 34.9% 30.2% 2008 37.0% 31.4% 2009 38.3% 32.3% 2010 36.6% 31.5% 2011 33.7% 29.7% 2012 35.4% 31.3% ** 2013 33.9% 30.5% 2014** 3
Slide 10: Leading Position Over Chilean Exports
Leading Position Over Chilean Exports Share over chilean Rank Growth % Part of CyT in total Rank CyT over Country bottled exports Sep 2015 2015/2014 chilean bottled exports Chilean Exports (volume) 1 USA 13.0% 1.8% 39.5% 1 2 United Kingdom 11.7% -2.7% 41.7% 1 3 Japan 11.4% 22.6% 28.6% 1 4 China 10.3
Slide 11: Domestic Market – Chile 9M 2015
Domestic Market – Chile 9M 2015 Domestic Market – Wine Sales Domestic Market – Wine Volume (million Ch$) (Thousand Liters) CAGR: -0.1% % Premium/ % Premium/ Premium Wine Growth Year Total Volume Total Value (Thousand Liters) 2006 3.1% 13.0% 2007 2.7% 13.2% 2008 3.1% 15.2% 2009 3.5% 16.3% 2010 4.1% 1
Slide 12: Sales Disclosure 9M2015
Sales Disclosure 9M2015 Sales Breakdown by Origin Sales Breakdown by Currency Currency Mix 9M15 9M14 CLP 19.5% 18.6% USD 34.4% 33.8% GBP 20.8% 20.3% EUR 9.7% 10.9% CAD 2.7% 3.1% ARG 0.9% 0.7% SEK 2.7% 3.1% NOK 0.9% 0.8% BRL 5.6% 6.3% MXN 2.6% 2.2% • Export Markets include exports to third parties an
Slide 13: Distribution Subsidiaries: Driving the Growth
Distribution Subsidiaries: Driving the Growth 13
Slide 14: Consolidated EBITDA 9M2015
Consolidated EBITDA 9M2015 Consolidated EBITDA (million Ch$) Consolidated Mg. EBITDA (% of Sales) 14
Slide 15: Consolidated Net Profit 9M2015
Consolidated Net Profit 9M2015 Consolidated Net Profit (million Ch$) 15
Slide 16: III. Financial Position
III. Financial Position 16
Slide 17: Conservative Capital Structure (As of Sep-15)
Conservative Capital Structure (As of Sep-15) Financial Debt / Equity Total Liabilities / Equity 1,4(*) Net Financial Debt / EBITDA (1) EBITDA (1) / Financial Expenses (1) 2,5(**) Liabilities: Current Liabilities + Non Current Liabilities Financial expenses excludes financial income Financial Debt:
Slide 18: Financial Debt
Financial Debt Financial Debt* as of: Sep-15 Sep-14 Ch$ MM Av. Interest rate Ch$ MM Av. Interest rate USD 144,188 2.69% 129,864 3.03% EUR 0 0.00% 0 0.00% GBP 0 0.00% 0 0.00% CLP 41,736 5.17% 18,012 4.68% UF 54,508 3.44% 130,792 3.43% ARS 4,719 23.58% 5,782 22.99% BRL 4,402 15.23% 8,658 11.63% MXN 4
Slide 19: Financial Debt
Financial Debt Financial Debt by Currency As of September 30, 2015 19
Slide 20: Financial Debt
Financial Debt Expected Maturity Date (1), as of September 30, 2015 (Billion Ch$) 91* Source: The Company (1) Considers current and non current financial liabilities excluding derivatives * EBITDA, Last 12 Months 20
Slide 21: Investor Presentation 3Q2015 & 9M2015 Results
Investor Presentation 3Q2015 & 9M2015 Results November 19th, 2015
Slide 22: V. Exhibits
V. Exhibits 22
Slide 23: Bottled Sales 3Q2015 & 9M2015
Bottled Sales 3Q2015 & 9M2015 Change Change Total Sales⁽*⁾ (in Ch$ million) 3Q15 3Q14 9M 2015 9M 2014 (%) (%) Chile Domestic Market - wine 18,844 17,711 6.4% 47,655 44,771 6.4% Export markets⁽¹⁾ 113,729 98,071 16.0% 295,059 271,645 8.6% Argentina Domestic 1,991 1,538 29.4% 4,497 3,056 47.1% Argentin
Slide 24: Chilean Harvest through years
Chilean Harvest through years Historical Harvest Volume (million liters) 24
Slide 25: Significant shift in Chilean bulk wine price curve
Significant shift in Chilean bulk wine price curve Chilean Bulk Wine Price (Cabernet Sauvignon, Maule Valley) 25