Grupo Bimbo Sab De Cv Class A · BMV:BIMBO/A
Grupo Bimbo Sab De Cv Class A — Q3 2012 Earnings Presentation
29 slides from Grupo Bimbo Sab De Cv Class A's earnings presentation, October 2012
Slide 1: Investor Presentation 3Q12
Investor Presentation 3Q12 1
Slide 2: Grupo Bimbo
Grupo Bimbo Global leader in baking and one of the largest packaged food players Presence in 19 countries +10,000 products and +100 brands Categories: packaged bread, salted snacks, confectionary, tortillas and packaged food LTM 3Q12 sales: USD $12.7 Bn1 LTM 3Q12 EBITDA: USD $1.1 Bn1 Market Cap of U
Slide 3: Broad Asset Base
Broad Asset Base Control Group Float 127,000 associates 76% 24% 153 plants Central & Mexico USA Iberia Asia1 +2.2 MM South America POS +51,000 routes 1. Asia’s results are included in Mexico Page 3
Slide 4: Globally Present, Locally Committed
Globally Present, Locally Committed LTM Revenue Breakdown (US$12.7 Bn)2 Iberia Portugal & Spain 2% United States LatAm #1 in packaged baked Leader nationwide 13% goods #1 in premium brands Mexico Leading brands in sweet #1 in English muffins 39% baked goods and snack #1 portfolio of Hisp
Slide 5: Accelerated International Expansion
Successful Growth Case 2011 Strict Strategic Reinvestment Focus Accelerated International Expansion 2009 Sustainable Growth 00s Solid 90s Balance … 80s Sheet 70s Successful growth story through a combination 60s of organic growth, strategic acquisitions 50s combined with a conservative financial pol
Slide 6: Key Success Drivers
Key Success Drivers Long Run Player Innovation Dedication in a Very & to Bakery Attractive and Brand Equity Deep Consumer Industry Non-Cyclical Understanding Industry Over the last decade GB shifted from a strong local player to a leader in the Americas Experienced Socially & Responsible Management
Slide 7: Leading Player in an Attractive Non-Cyclical Industry
Leading Player in an Attractive Non- Cyclical Industry 1 LTM Revenues in US$MM Attractive High Non- industry Resilient consumption discretionary + 12,936 Industry frequency products Fundamentals 253 10,316 + 12,699 8,121 2,909 2,770 1,762 2 Key success Innovation & Strong Distribution, Packaged Brea
Slide 8: Strong Brand Equity and Deep Consumer Understanding
Strong Brand Equity and Deep Consumer Understanding Taking innovative products Broad portfolio around the world Every meal, every occasion, every Extraordinary Deep consumer group Brand consumer Awareness understanding Products that 6 R&D have changed Institutes the Keep up with Leadership in core i
Slide 9: Exceptional Distribution Network and Manufacturing Facilities
Exceptional Distribution Network and Manufacturing Facilities +51,000 Unique expertise in moving routes high volume products On of the largest fleets Attuned distribution Access to in the Americas model for Low cost unmatched each channel manufacturing technological equipment 9 Page 9
Slide 10: Seasoned Management Team, Sound Governance & Strong Corporate Identity
Seasoned Management Team, Sound Governance & Strong Corporate Identity Roberto Servitje Positioned the company as the market leader Chairman of the Board Proven track record of stability and growth Seasoned Successfully integrated 38 acquisition over Management the past 10 years Audit & Corporate Pr
Slide 11: Strong Financial Performance
Strong Financial Performance Revenue Growth1 EBITDA Growth1 (US$ in millions) (US$ in millions) EBITDA Margin 12,699 10,750 9,270 1,172 1,224 1,220 1,112 8,609 7,392 883 6,615 791 -7 -23 2007 2008 2009 2010 2011 LTM 3Q12 2007 2008 2009 2010 2011 LTM 3Q12 Latin America U.S. Mexico GB 12.0% 11.9% 13.6
Slide 12: Financial Stability
Financial Stability EBIT % EBITDA % Gross % Commodities/ Commodities Integration 56.2 56.7 54.8 53.3 53.1 53.7 53.3 53.0 54.0 53.4 52.8 52.8 52.8 51.2 51.1 51.2 50.6 48.6 47.9 13 13.5 13.8 13.7 14.1 13.6 12.8 12.2 12.0 13.6 13.2 12.3 11.9 11.5 10.7 10.3 11.1 9.5 8.8 9.7 9.7 9.9 10.3 9.7 10.4 9.7 9.3
Slide 13: Responsible Financial Policies
Responsible Financial Policies Flexible Capital Structure Leverage Total Debt/EBITDA 3.3x #REF! Net Debt/ EBITDA 3.1x 2.8 Rapid deleveraging target <2x 2.3x 2.2x 2.8x 2.5 1.2x 2.0x 1.1x 0.7x 1.9x 0.8x 2.3x 0.4x Investment grade ratings: 0.2x 0.4x 2.0x Baa2/BBB/BBB 2004 2005 2006 2007 2008 2009 2010
Slide 14: Responsible Financial Management
Responsible Financial Management Amortization Schedule1 Average Life: 6.1 years Total Debt: US$3,043 mm Av. Financing Cost: 4.5% Jan 2012: 198 85 800 800 US$800mm of 4.5% due 2022 389 389 389 under Reg-S Rule 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Current undrawn Local Bonds Syndicat
Slide 15: Building a Sustainable Future
Building a Sustainable Future We understand there is no conflict in doing good and doing well Wind farm in Mexico 10K families WHO and SSA Energy consumption supported by guidelines down 11m kWh +127K associates in “Fundar” 19 countries Trans fats removed Water consumption 65K indigenous from 99.5%
Slide 16: Looking Ahead
Looking Ahead
Slide 17: A Transitional Year
A Transitional Year Synergistic Transaction Long Term Vision- Do It Right One time costs are necessary to IT Efficient operation with value capture synergies (US$150mm) Leadership Manufacturing creation to consumers Growth 1. Cost Distribution Strong CF generation S&A EFICIENCY Industry Transformati
Slide 18: Time to Invest
Time to Invest Our Strong Cash Flow Generation Backs our Investment Plan Investments are clearly focused on productivity US synergies- reconfigure manufacturing print Streamline manufacturing capabilities Low- Cost LatAm- Build scale and market penetration Producer Next couple of years…CAPEX around
Slide 19: Time to deleverage
Time to deleverage Total Debt/ EBITDA 3.3x1 3.1x 2.8x 2.5x 2.2x 1.9x 1.5x 2.3x 1.1x 1.2x 1.1x 0.9x 0.7x 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 3Q12 Weston West Weston East Sara Lee 1.Pro forma con la adquisición de Weston Foods Page 19
Slide 20: Why Grupo Bimbo?
1 5 year return in USD Why Grupo Bimbo? -5% +44% +104% 1 Long-term value creation -4% 2 Strongly positioned in local & International indexes 3 Focused on our core business 4 Cash flow stability 5 Successful deleveraging and solid investment grade ratings 6 Strong & continuous reinvestment 7 Responsi
Slide 21: Annex: Financial Results by Region & Recent Acquisitions
Annex: Financial Results by Region & Recent Acquisitions 21
Slide 22: Grupo Bimbo - Quarterly Results
Grupo Bimbo- Quarterly Results Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 38.9% 12.5% 11.0% 10.8% 9.7% 127,664 8.6% 7.8% 38.9% 43.4% 34.7% 7.1% 7.8% 91,927 10,108 10,017 43,246 43,448 40,970 4,020 3,756 3,172 2,904 2,916 3,356 32,263 29,500 30,164 1Q 2Q 3Q 9M 1Q 2Q
Slide 23: Mexico - Quarterly Results
Mexico- Quarterly Results Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 11.0% 15.6% 12.3% 13.0% 11.5% 47,112 52,282 14.6% 13.7% 11.5% 7.9% 12.4% 11.1% 10.8% 6,117 6,495 17,435 17,078 16,461 17,769 15,328 15,323 2,572 2,599 1,889 1,933 1,656 1,963 1Q 2Q 3Q 9M 1Q 2Q 3Q 9
Slide 24: USA - Quarterly Results
USA- Quarterly Results Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 57.7% 58,480 11.0% 10.8% 10.8% 10.8% 34,555 62.1% 74.7% 65.3% 7.2% 6.4% 6.1% 20,076 19,913 4.7% 17,861 3,745 3,596 11,017 11,492 12,045 1,207 838 1,242 1,482 1,295 1,275 1Q 2Q 3Q 9M 1Q 2Q 3Q 9M Sales
Slide 25: OLA - Quarterly Results
OLA- Quarterly Results Revenue Growth (GB) EBITDA Growth (GB) (MXN$ in millions) (MXN$ in millions) 30.3% 4.4% 3.3% 1.9% 0.6% 16,419 1.8% 20.4% 1.2% 40.0% 32.5% 12,603 237 0.5% -1.1% 242 204 5,422 5,475 5,522 151 4,588 68 3,882 4,133 23 29 -62 1Q 2Q 3Q 9M 1Q 2Q 3Q 9M Sales '11 Sales '12 EBITDA '11 E
Slide 26: Recent Acquisitions
Recent Acquisitions 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 million), which includes US$34 million in assumed liabilities Net revenues (US$ mm) 3,701 2,036 5,737 EBITDA (US$ mm) 40
Slide 27: Recent Acquisitions
Recent Acquisitions 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 regional profile and growth strategy in Latin America Entry to sizeable market through established brand leader Market l
Slide 28: Thank you
Thank you , ge Page 28
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 investors´ presentations. The information herein is only a summary and does not purport to be complete. This material has been prepared solely for informational purposes and should not