Ebro Foods SA · BME:EBRO
Ebro Foods SA — Investor Presentation (November 2010)
37 slides from Ebro Foods SA's investor presentation, November 2010
Slide 1: Corporate Presentation November, 2010
Corporate Presentation November, 2010
Slide 2: Index
INDEX 1. Introduction 2. Rice Business 3. Pasta Business 4. Conclusion 5. Annex I. Main Figures 6. Annex II. Product Samples
Slide 3: Introduction
1 INTRODUCTION
Slide 4: Who is Ebro?
Who is Ebro? Ebro is an international brand-based food group with a market capitalization of €2.26 billion, turnover of €1.75 billion and net profit of €176.4 m at the end of 2009. Over the last ten years we have made several changes, transforming our company from a sugar company in 2000 (with a fin
Slide 5: Ebro Nowadays
Ebro Nowadays We are world leaders in the branded rice sector and the second branded pasta manufacturer worldwide. Ebro subsidiaries are distributed over 23 countries in Europe, America, Asia, Northern Africa and we have a portfolio of over 60 brands. Our stock is quoted in the Madrid Stock Exchange
Slide 6: Breakdown of Ebitda
Breakdown of Ebitda EBITDA by Geographical Zone 1H10 EBITDA by Divisions 1H10 North America 51% Rice 41% Rest of Europe Pasta 41% Rest of World 59% Spain Iberia 1% 7%
Slide 7: Ebro Presence
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Slide 8: Rice Business
2 RICE BUSINESS
Slide 9: The Rice Business
The Rice Business The history of our Rice Division tracks back to a business started by the Hernandez Family in Spain in 1950. After its full integration in Ebro Foods in 2001, we have taken over 10 rice businesses throughout the world: Denmark, Hungary, Finland, Germany, UK, USA, Canada, Egypt, Tha
Slide 10: Rice Market Shares
Rice Market Shares COUNTRY MARKET SHARE VOLUMEN Spain 24,0% Portugal 16,0% Germany 20,0% Belgium 31,7% P. Rico 23,0% USA 24,0% Canada (Instant Rice) 65,0% France 23,0%
Slide 11: Rice Brands
Water Maid f { CHINATOWN } rave Mail Ebro
Slide 12: Rice Raw Material Purchases
Rice Raw Material Purchases In Europe: We purchase 500.000 tm/annum of rice. All purchases are made to farmers and cooperatives. In North America: We purchase 200.000 tm/annum of paddy rice. We purchase 200.000 tm/annum of milled rice. The bulk of our purchasing is from Arkansas and Memphis therefor
Slide 13: Rice Factories Spain
Rice Factories Spain Our factories in Spain have a: Milling capacity of: 500.000 mt/annum. Parboiling capacity: 210.000 mt/annum. Storage capacity: 182.000 mt. The facilities are located in: San Juan – Seville: Rice Mill, Parboiled Rice, Quick Rice, Ready Made Dishes and Packing. Isla Mayor - Sevill
Slide 14: Rice Factories Spain
Rice Factories Spain Tortosa - Tarragona L´Aldea Tarragona San Juan - Sevilla Silla - Valencia Isla Mayor-Sevilla Jerez - Coria - Sevilla Jerez
Slide 15: Rice Factories EU
Rice Factories EU. Our factories in the European Union have: Milling capacity of: 400.000 mt/annum. Storing capacity of: 80.000 mt/annum. The facilities are located in: Cambridge, UK: Rice Mills. Liverpool, UK: Rice Mills and Flour Mill. Orbaek, Denmark: and IQF Rice and Pasta. Antwerp, Belgium: Ric
Slide 16: Rice Factories EU
Rice Factories EU. Antwerp Liverpo Danmark ol Hamburg Cambridg e Vercelli Coruch e
Slide 17: Rice Factories USA
Rice Factories USA. Our plants in US are located in: Carlisle, AR. Parboil and Crisping: Capacity for Parboil and Milling operation 80.000 mt/annum. Capacity for Crisping and Packaging 1.800 mt/annum. Brinkley, AR. Instant Rice Processing and Milling: Capacity for Instant Rice Processing and Packagi
Slide 18: Rice Factories USA. Memphis Rice Factory
Rice Factories USA. Memphis Rice Factory Construction on the estimated 110 MAUD Ebro’s., rice processing and packaging plant in Memphis will be finished by 1Q11 but is already starting to work. It will add a 400,000-square-foot state-of-the-art plant that will include an on-site warehousing and dist
Slide 19: Other Rice Affiliates
Other Rice Affiliates We are also placed in: Egypt: Herba Egypt Milling capacity of: 100.000 mt/annum. Storage capacity: 20.000 mt Morocco: Mundiriz Milling capacity of: 60.000 mt/annum. Parboiling capacity: 18.000 mt/annum. Storage capacity: 25.000 mt Thailand: Herba Bangkok Processing and packing
Slide 20: Other Rice Affiliates
Other Rice Affiliates Uruguay Herba Bangkok
Slide 21: Pasta Business
3 PASTA BUSINESS
Slide 22: The Pasta Business
The Pasta Business Our first step in the Pasta business was the acquisition of Panzani in 2005 (€639 m). Panzani was the leading dry pasta, fresh pasta, rice and sauces branded leader in France. It brought to our group an expertise in pasta marketing and R+I+D, along with a specialized management te
Slide 23: The Pasta Division Market Shares
The Pasta Division Market Shares Pasta COUNTRY MARKET SHARE VOLUMEN Sauce Germany 11,2% COUNTRY MARKET SHARE Belgium 13,7% France 33,6% Cezch Republic 12,5% USA 25,8% Fresh Pasta COUNTRY MARKET Canada 39,4% SHARE France 40,8% France 30,5%
Slide 24: The Pasta Division Main Brands
The Pasta Division Main Brands
Slide 25: Pasta Raw Material Purchases
Pasta Raw Material Purchases In Europe: We purchase 582.000 tm/annum of durum wheat. 524.600 tm/ annum come from France. 57.400 tm/annum come from North America. 100% of French durum wheat purchase is done to cooperatives. In France the 60% of the purchases are made through three years contract wher
Slide 26: Pasta Factories EU
Pasta Factories EU. Our facilities in EU are located in: France: Three mills: Gennevilliers (Paris): with a capacity of 130.000 tm/annum. Littoral (Marseille): with a capacity of 65.000 tm/annum. Saint Just (Marseille): with a capacity of 130.000 tm/annum. Two plants of dry pasta: Nanterre (Paris):
Slide 27: Pasta Factories France
\ Pasta Factori es France GROCERY DRY PASTA HB Factories @ Semolina plant: FRESH PASTA Mi Factories A Warehouse COUSCOUS @ Factory ennevilliers - 32 p Nanterre - 147p Lorette - 118 p ER St Genis Laval - 135 pill Litto Montagny - 55p Vitrol a les - 48, aude ? yntre - 169 Ebro
Slide 28: Pasta Factories Germany
Pasta Factories Germany % an t f < ing Bertin@ ot ? ) 4 : a) oan MS Waren
Slide 29: Pasta Factories USA and Canada
Pasta Factories USA. and Canada We have four pasta factories between US and Canada. Three in US: Winchester, Virginia: this factory has a milling capacity of: 90.000 tm/annum. St. Louis, Missouri: this factory has a milling capacity of 81.000 tm/annum. Fresno, California: this factory has a milling
Slide 30: Pasta Factories USA and Canada
Pasta Factories USA. And Canada
Slide 31: Conclusion
4 CONCLUSION
Slide 32: Conclusion
Conclusion We are a Food Group specialized in products highly related with their raw materials, rice and durum wheat. Originally we started as a sugar and dairy company and nowadays we are focused in rice and pasta therefore our relationship with our raw material providers is very important. We main
Slide 33: Annex I. Main Figures
ANNEX I. MAIN FIGURES Ebro
Slide 34: Main Figures - Rice Business
RICE Main Figures- Rice Business Thous EUR 9M08 9M09 9M10 10/ 09 CAGR 10/ 08 Sales 647.763 654.925 602.055 -8,1% -3,6% Advertising 17.430 21.166 20.699 -2,2% 9,0% EBITDA 89.592 85.600 87.779 2,5% -1,0% EBITDA Margin 13,8% 13,1% 14,6% 11,6% 2,7% EBIT 74.026 69.901 70.488 0,8% -2,4% Operating profit
Slide 35: Main Figures - Pasta Business
Main Figures- Pasta Business Thous EUR 9M08 9M09 9M10 10/ 09 CAGR 10/ 08 Sales 713.065 692.308 669.379 -3,3% -3,1% Advertising 34.538 37.431 43.153 15,3% 11,8% EBITDA 67.208 94.807 117.651 24,1% 32,3% EBITDA Margin 9,4% 13,7% 17,6% 28,3% 36,6% EBIT 45.257 73.818 97.569 32,2% 46,8% Operating profit 3
Slide 36: Main Figures - Consolidated
Main Figures- Consolidated Thous EUR 9M08 9M09 9M10 10/09 CAGR 10/08 Sales 1,333,597 1,342,483 1,253,850 -6.6% -3.0% Advertising 53,986 61,482 64,774 5.4% 9.5% EBITDA 148,762 171,259 197,586 15.4% 15.2% EBITDA margin 11.2% 12.8% 15.8% 23.5% 18.9% EBIT 108,360 131,665 157,520 19.6% 20.6% Operating pr
Slide 37: Main Figures - Balance Sheet
Main Figures- Balance Sheet After the sale of the Dairy Division (€630m) that took place in September we are debt free. CAGR Thous EUR 30 Sep 08 31 Dec 08 30 Sep 09 31 Dec 09 30 Sep 10 E31 Dec 10 E10/09 E10/08 Net Debt 1,233,271 1,055,853 545,272 556,800 -84,306 70,160 -115.5% -74.2% Average Debt 1,