Coca-cola Icecek A.s. · BIST:CCOLA
Coca-cola Icecek A.s — Q2 2009 Earnings Presentation
17 slides from Coca-cola Icecek A.s's earnings presentation, Aug 27, 2009
Slide 1: 2Q09 Results
2Q09 Results August 27, 2009 Istanbul Michael A. O’Neill – CEO Building & Sustaining a Growth Company Burak Başarır – CFO
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements including, but not limited to, statements regarding Coca-Cola İçecek’s (“CCI”) plans, objectives, expectations and intentions and other statements that are not historical facts. Forward-looking statements can generally
Slide 3: 2Q09 Review
2Q09 Review Top-line growth maintained Economic conditions still remain challenging Benefiting g from cost saving g initiatives Pakistan and Doğadan continue to add momentum I t International ti l Operation’s O ti ’ share h i CCI iis iincreasing in i AccountAbility and Corporate Governance ratings a
Slide 4: Volume up by 13.8% in 1H09
Volume up by 13.8% in 1H09 Turkey Volume Turkey Volume International Volume Consolidated Volume (Unit cases in millions) (Unit cases in millions) (Unit cases in millions) 275.6 204.3 242.2 194.6 71.3 47.9 1H08 1H09 1H08 1H09 1H08 1H09 Consolidated up by 14.0% to 172.0 million 2Q09 Turkey up by 4.2%
Slide 5: Net sales up by 12.2% in 1H09
Net sales up by 12.2% in 1H09 Turkey Net Turkey Net Sales Sales International Net Sales Consolidated Net Sales (CMB - TL in millions) (CMB – US$ in millions) (CMB - TL in millions) Turkey Volume 1Q08 1,184.3 910.6 1,055.5 , 890.2 171.0 136.4 1H08 1H09 1H08 1H09 1H08 1H09 Consolidated up by 12.2% to
Slide 6: EBITDA up by 6.2% in 1H09
EBITDA up by 6.2% in 1H09 Turkey Net Turkey Sales EBITDA International EBITDA Consolidated EBITDA (CMB - TL in millions) (CMB – US$ in millions) (CMB - TL in millions) Turkey Volume 204.4 1Q08 169.8 192.4 168.1 21.0 19.8 18 9% 18.9% 18 6% 18.6% 14 5% 14.5% 12 3% 12.3% 18 2% 18.2% 17 3% 17.3% 1H08 1H
Slide 7: Turkey
Turkey Turkey’s GDP is expected to contract at mid-to-high single digits y-o-y in 2Q09 Consumer confidence improved and consumer spending increased relative to 1Q09 Still beverages and NRTD tea sales still contribute to top-line p growth g Increased and successful consumer activations give positive
Slide 8: International Operations
International Operations Challenging economic conditions continue in Central Asia Syria and Iraq posted growth while Jordan lagged behind last year's year s volume figures Pakistan performed well, in line with midterm growth guidance Continued investments in efficiencyy initiatives Introduction of m
Slide 9: Product Innovations in 2Q09
Product Innovations in 2Q09 N New CAPPY FlFlavours: Yellow-mix Red-mix PET 1.5L in Coca-Cola PET 2L in Kazakhstan Azerbaijan
Slide 10: Financial Review
Financial Review Burak Başarır CFO
Slide 11: Introduction to Financial Statements
Introduction to Financial Statements Basis of Preparation Consolidated / TL/$ Year- TL/$ International International* Turkey T k End Average Functional TL USD June 30, June 30, Currency 2009 1,5301 2009 1,6056 Reporting epo t g December June 30 30, TL USD Currency 31, 2008 1,5123 2008 1,2265 ∆ 1% ∆
Slide 12: Key Financials – Consolidated
Key Financials – Consolidated (TL million) 1H09 1H08 Change % 2Q09 2Q08 Change % Volume (m/uc) 275.6 242.2 13.8% 172.0 150.9 14.0% Net Sales 1 184 3 1,184.3 1 055 5 1,055.5 12 2% 12.2% 745 0 745.0 664 1 664.1 12 2% 12.2% Gross Profit 445.6 446.2 (0.1%) 297.2 285.4 4.1% EBIT 132.7 135.6 (2.2%) 121.3
Slide 13: Financial Expenses
Financial Expenses Financial Income / (Expense) Breakdown 1H09 1H08 Interest income 9.4 5.2 Interest expense (-) (17.6) (20.2) Foreign exchange gain / (loss) (6.2) (3.5) Realized FX gain / (loss) – Borrowings - (5.9) Unrealized FX gain / (loss) – Borrowings (7.5) (14.7) Gain / (loss) on derivative t
Slide 14: Key Financials
Key Financials (TRY million) June 30, December 31, June 30, December 31, Liabilities & Equity Assets 2009 2008 2009 2008 Cash & cash Short-term debt 231.6 254.3 693.0 142.2 equivalents i l t Accounts rec.& due Accounts payable & due to 408.9 202.8 193.8 157.3 from related parties related parties Pro
Slide 15: Debt Structure
Debt Structure Million 2Q09 FY08 ∆ USD denominated* 582 569 13 EURO denominated* 66 66 0 TL denominated 72 2 70 Other (in TL terms) 21 24 -3 Total Financial Debt in TL 1.127 1.029 98 Total Cash & Equivalent in TL 232 254 -22 Net Debt in TL 895 775 120 Net Debt in US$ $ 585 512 73 Maturity Date 2009
Slide 16: Closing Remarks
Closing Remarks Michael A. O’Neill CEO
Slide 17: Thank You
Thank You Coca-Cola Icecek Investor Relations Tel: +90 216 528 3386 Fax: +90 216 365 8457 CCI-IR@cci.com.tr www.cci.com.tr