Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Coca-Cola Andina — Q4 2023 Earnings Presentation
35 slides from Embotelladora Andina SA's earnings presentation, Dec 10, 2024
Slide 1: Coca-Cola Andina Corporate Presentation 4Q23
Coca-Cola Andina Corporate Presentation 4Q23 CORPORATE PRESENTATION
Slide 2: Agenda
AGENDA Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Slide 3: Coca-Cola Andina at a Glance (FY 2023)
Our Company Coca-Cola Andina at a Glance (FY 2023) The Company Key Financials ESG Metrics LARGEST BOTTLER in Chile, 883 MILLION UNIT CASES (~5,000 Argentina and Paraguay MILLION LITERS) 48.83 KILOCALORIES Coca-Cola Andina Investor Presentation – Swiss Market and 3RD LARGEST in Brazil VOLUME sold eve
Slide 4: Andina's History
Our Company Andina’s History Agreement Merger with KO Polar to commercialize Andina listed Coca-Cola System (incorporation of new During April we began Agreement and distribute Andina on the NYSE. joint venture (50/50) territories in Argentina, distributing AdeS for Viña Santa Rita becomes the Franc
Slide 5: Ownership Structure
Our Company Ownership Structure (As of December 31, 2023) 6.4% 0.7% 14.7% 55.4% Coca-Cola Andina Corporate Presentation A series Controlling Group 39.3% 22.8% Others 44.8% Coca-Cola 7.3% ADRs 2.9% 5.1% Chilean Pension Funds 5.7% 5.1% 23.1% 5 B series Series A elects 12 of 14 Board members. Series B
Slide 6: Regional & Diversified Platform
Our Company Regional & Diversified Platform (FY 2023) Volume Revenues Adjusted EBITDA 9% 9% 14% 35% 22% 17% 39% 46% 17% 883 USD$3,094 USD$555 Coca-Cola Andina Corporate Presentation 34% MM UCs 29% MM 29% MM Argentina Brazil • Territories: San Juan, Mendoza, San Luis, Córdoba, most of Santa Fé, Entre
Slide 7: Superior Manufacturing & Logistics Capabilities
Our Company Superior Manufacturing & Logistics Capabilities • 15 Plants • 95 distribution centers • 101 lines • 2,992 own & third party trucks Argentina Brazil Coca-Cola Andina Corporate Presentation • 3 Plants with a total of 25 lines • 3 Plants with a total of 27 lines • Average utilization ranged
Slide 8: Committed to sustainable development
Our Company Committed to sustainable development Coca-Cola Andina Corporate Presentation 8 Generating Social, Economic and Environmental Value in all our actions Source: Company filings and public releases
Slide 9: Achievements on sustainable development
Our Company Achievements on sustainable development Water ratio (WUR) Returnable packaging (on NARTD) Energy ratio (EUR) 3.0 50.0% 0.600 40.0% 0.500 0.400 30.0% 2.0 -14.6% 20.0% 27.5% 0.300 -4.9% Coca-Cola Andina Corporate Presentation 0.200 10.0% 0.100 1.0 0.0% 0.000 2018 2019 2020 2021 2022 2023 2
Slide 10: Main Indicators and Future Commitments
Our Company Main Indicators and Future Commitments 1.71 28.0% 0.306 16.4% 49.55 2022 Results 1.72 27.5% 0.317 16.9% 48.83 2023 Results Coca-Cola Andina Corporate Presentation 1.27 42.8% 0.255 Contribute towards the 2x Remain close, promote 40.75 Contribute to the progress of the 10 consolidation of
Slide 11: Market Description
Coca-Cola Andina Corporate Presentation Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Slide 12: Our Market Structure at a glance
Market Description Our Market Structure at a glance (As of December 31, 2023) Market Share Channel Mix Per capita Consumption 11% (8 oz. bottles) 64% 37% 251 38% 42% 21% Coca-Cola Andina Corporate Presentation 39 28 24 30% Soft drinks Waters Juices and Others On premise Wholesalers Soft Drinks Water
Slide 13: Our Strategy
Coca-Cola Andina Corporate Presentation Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Slide 14: Strategic Objectives Coca-Cola Andina 2025
Our Strategy Strategic Objectives Coca-Cola Andina 2025 Growth through: • NARTD & ARTD (KO) Portfolio 1 • Entering New Catergories leveraging our Assets and Logistics Capacity. • New geographic Inorganic Growth opportunities Coca-Cola Andina Corporate Presentation Eficiency and Productivity leadersh
Slide 15: What Makes Us Unique?
Coca-Cola Andina Corporate Presentation Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Slide 16: What makes us unique?
What makes us unique? 1 Complete Beverage Portfolio 2 Refillable Bottles Strategy Towards a World Without Waste Coca-Cola Andina Corporate Presentation 3 Strong Sugar Reduction and Stills & Low-Cal Strategy 4 Digital Capabilities for today’s business 16 5 High Performance, strongly committed Team 6
Slide 17: Complete Beverage Portfolio
What makes us unique? 1 Complete Beverage Portfolio (4Q23) Argentina Brazil Chile Paraguay SSDs1 Coca-Cola Andina Corporate Presentation Juices and other NCBs1 Water Beer2 17 Spirit Beverages2 Source: Company filings and public releases. 1 SSDs: Sparkling Soft Drinks; NCBs: Non-Carbonated Beverages
Slide 18: Refillable Bottles Strategy
Refillable Bottles Strategy What makes us unique? 2 Towards a World Without Waste % Refillables as of Total SSD Volume FY2021 FY2022 FY2023 Coca-Cola Andina Corporate Presentation Argentina 50.8% 44.4% 41.4% Brazil 25.5% 22.0% 22.2% Universal Bottle Chile 40.3% 38.6% 41.1% 18 Paraguay 46.7% 41.9% 40
Slide 19: Strong Sugar Reduction and Stills & Low-Cal Strategy
Strong Sugar Reduction and What makes us unique? 3 Stills & Low-Cal Strategy % of NARTD Total Volume (*) No Sugar & LowCal Stills Mix Coca-Cola Andina Corporate Presentation 9% 27% 11% 23% 4% 16% 4% 19% 2010 2023 2010 2023 2010 2023 2010 2023 Argentina Brazil Argentina Brazil 19 21% 60% 11% 27% 13%
Slide 20: Digital Capabilities for today's business
Digital Capabilities What makes us unique? 4 for today’s business B2B Expand our B2B solution B2C Direct satisfaction to consumers • Robust platform on our SAP • Direct to Consumers platform in Brazil Front Office • MiCoca-Cola.cl Full Potential 2022 Coca-Cola Andina Corporate Presentation • Omnicha
Slide 21: Digital Capabilities for today's business
Digital Capabilities What makes us unique? 4 for today’s business Interact with our Interact with our Digitize our Internal Data & Analytics Digital Payments Customers Consumers Processes Expand our B2B solution Direct satisfaction to consumers Efficiency & Productivity Data Driven Decision Company
Slide 22: Digital Capabilities for today's business
Digital Capabilities What makes us unique? 4 for today’s business 01. Customers • +39% registered customers and 9% buyers • Focus 2022 implementation and grow B2B coverage • Expanding KOBoss (Whatsapp) in Brazil, Chile and Paraguay Digital Portfolio Coca-Cola Andina Corporate Presentation 02. Consum
Slide 23: High Performance, strongly committed Team
High Performance, What makes us unique? 5 strongly committed Team Experienced Senior Management - In 2022, we started measuring Average Industry Company Industry Company Experience Experience Experience Experience Commitment of employees, in line with (Years) (Years) (Years) (Years) the Gallup metho
Slide 24: Learning and Sharing for Continued Improvement
Learning and Sharing for What makes us unique? 6 Continued Improvement High level instance to share strategy, best practices, new ways of Top 2 Top working and projects to ensure short and long term results Coca-Cola Andina Corporate Presentation Growth Alignment and Project Portfolio (SSD, Stills,
Slide 25: Financial Highlights
Coca-Cola Andina Corporate Presentation Our Company Market Description Our Strategy What Makes Us Unique? Financial Highlights
Slide 26: Strong Ebitda Generation (Consolidated)
Financial Highlights Strong Ebitda Generation (Consolidated) Adjusted EBITDA and Adjusted EBITDA Margin (CLP$ mm) Argentina Brazil Chile Paraguay EBITDA Margin Coca-Cola Andina Corporate Presentation 19% 20% 21% 18%1 17% 18% 19% 21% CAGR +7.7% 464,510 470,108 397,213 348,869 350,532 324,964 7.3% 26
Slide 27: Strong Ebitda Generation by country
Financial Highlights Strong Ebitda Generation Argentina1 Brazil (Million AR$) Ebitda Margin (%) (Million R$) Ebitda Margin (%) 100,000 1000 79,282 825 80,000 800 62,548 600 Coca-Cola Andina Corporate Presentation 60,000 600 40,000 400 273 22,277 228 18,468 20,000 200 14.6% 18.7% 14.2% 18.6% 19.6% 18
Slide 28: Solid Financial Position
Financial Highlights Solid Financial Position Financial Debt1 (USD$ mm) Banks Bonds Total Risk Ratings Short Term Financial Debt Long Term Financial Debt USD$mm 58 1,088 1,146 Local rating agencies Rating % 5% 95% 100% ICR AA+ 1,217 1,180 1,146 Note: Banks includes Bank, Leasing & Others, doesn´t co
Slide 29: Solid Financial Position: Financial Ratios
Financial Highlights Solid Financial Position Financial Ratios (I) Financial Ratios (II) Financial Debt/Equity Ratio(1) Net Financial Debt(2)/Equity Ratio Net Financial Debt(2)/Adj. Ebitda(3) Debt Coverage Ratio (4) 1.1 1.1 19.9 1.0 0.8 0.7 13.6 0.7 9.6 Coca-Cola Andina Corporate Presentation 8.2 8.
Slide 30: Dividends
Financial Highlights Dividends (as of December 31, 2023) Dividend Distribution1 (million CLP$) 274,316 Coca-Cola Andina Corporate Presentation 164,987 99,986 106,347 85,475 2019 2020 2021 2022 2023 Dividend Yield2 2019 2020 2021 2022 2023 Series A 3.8% 5.4% 6.8% 17.3% 10.1% 30 Series B 3.6% 5.1% 6.4
Slide 31: Contact in Santiago, Chile
Coca-Cola Andina Corporate Presentation Contact in Santiago, Chile Andrés Wainer, Chief Financial Officer Paula Vicuña, Investor Relations Officer (56-2) 2338-0520 / andina.ir@koandina.com
Slide 32: Appendix
Coca-Cola Andina Corporate Presentation Appendix
Slide 33: Our Market Structure by operation
Market Description Our Market Structure by operation (As of December 31, 2023) Market Share Per capita Consumption Product Mix Channel Mix Format Mix SSD Sugary Mix NARTD (8 oz. bottles) 8% 7% 9% 33% 27% 60% 47% 225 41% 28% 15% 23 20 73% 84% 32% Soft Drinks Waters Juice and On premise Wholesalers So
Slide 34: Main Financial Highlights (Million USD$)
Main Financial Highlights (Million USD$) 2018 20191 2020 20212 20222 2023 4Q22 4Q23 Total Volume (million UCs) 751 746 735 828 874 883 251 248 Net Sales 2,569 2,495 2,190 2,848 3,058 3,094 879 867 Operating Income 348 335 306 378 397 422 127 146 Operating Margin 13.5% 13.4% 14.1% 13.3% 13.0% 13.6% 1
Slide 35: Main Financial Highlights (Local Currency)
Main Financial Highlights (Local Currency (million)) 20181 20191 20201 20211 20221 20231 4Q221 4Q23 2018 2019 2020 2021 2022 2023 4Q22 4Q23 Sales Volume (million UCs) 202 178 167 185 201 194 58 53 Sales Volume (million UCs) 249 259 265 266 278 301 80 89 Net Sales 22,441 31,566 37,737 65,297 142,559