Coca-cola Hbc Ag · LSE:CCH
Coca-cola Hbc — Shareholder Meeting (June 2020)
15 slides from Coca-cola Hbc's shareholder meeting presentation, Jun 16, 2020
Slide 1: Results Presentation – Annual General Meeting
RESULTS PRESENTATION ANNUAL GENERAL MEETING ZORAN BOGDANOVIC 16 JUNE 2020
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT Unless otherwise indicated, the condensed consolidated interim financial statements and the financial and operating data or other information included herein relate to Coca-Cola HBC AG and its subsidiaries (“Coca-Cola HBC” or the “Company” or “we” or the “Group”). This docu
Slide 3: Full Year Highlights
FULL YEAR HIGHLIGHTS • FX-neutral revenue growth of 4.4% (3.7% ex Bambi) • Weather headwind worth c. 1pp of revenue growth in the year • Volume up 3.3% (2.6% ex Bambi) with strong Q4 • Price/mix up 1.0% (1.1% ex Bambi) driven by price, package and category mix • Comparable EBIT up 11.5% (9.5% ex Bam
Slide 4: Financial Performance Overview
FINANCIAL PERFORMANCE OVERVIEW FY volume up 3.3% (2.6% ex Bambi) FY ‘19 FY ‘18 change Q4 volume up 8.3% (6.8% ex Bambi) Volume (m u.c.) 2,264.5 2,192.3 3.3% All three segments grew volumes with strong Net sales revenue (€m) 7,026.0 6,657.1 5.5% acceleration in Q4 FX-neutral net sales revenue (€m) 7,
Slide 5: Continued Margin Expansion
CONTINUED MARGIN EXPANSION 11.5% growth in Comparable EBIT (9.5% ex FY ‘19 FY ‘18 change Bambi) Comparable EBIT (€m) 758.7 680.7 11.5% 60 bps of EBIT margin expansion Comparable EBIT margin 10.8% 10.2% 60bps • 10bps from Bambi Comparable net profit (€m) 522.2 480.4 8.7% Comparable EPS(€) 1.436 1.306
Slide 6: Input Costs in Line
INPUT COSTS IN LINE FX-n input cost per case up 0.6%, in-line with low-single digit guidance • Sugar and aluminium input costs improved • PET resin costs deteriorated • Shifts to low/no-sugar variants and light-weighting initiatives are helping the input cost mix 6 ANNUAL GENERAL MEETING JUNE 2020
Slide 7: Strong Operating Leverage
STRONG OPERATING LEVERAGE OPEX as % of revenue improved by 80bps FY ‘19 FY ‘18 change Volume (m u.c.) 2,264.5 2,192.3 3.3 % • 30bps is due to operational leverage on logistics and admin costs Net sales revenue (€m) 7,026.0 6,657.1 5.5 % Comparable operating expenses (€m) 1,889.3 1,842.6 2.5 % • 50bp
Slide 8: Growth and Margin Expansion Across All Segments
GROWTH AND MARGIN EXPANSION ACROSS ALL SEGMENTS Comparable EBIT margin Revenue change FY ’19 vs FY’18 FY ’19 vs FY ’19 vs FY’18 FY ’19 vs excl. Bambi FY’18 excl. Bambi FY’18 Total CCH Total CCH Volume 2.6% 3.3% EBIT margin 10.7% 10.8% FXN-NSR per case 1.1% 1.0% EBIT margin expansion 50bps 60bps Esta
Slide 9: Continued Focus on Efficiency
CONTINUED FOCUS ON EFFICIENCY FY 2019 • €37.8m of pre-tax restructuring costs in the period • Restructuring mostly benefiting our Established and Emerging segment with a focus on Italy and Nigeria • Benefits from 2018 and 2019 efforts €30m FY 2020 Going forward we expect: • Pre-tax restructuring cha
Slide 10: Strong Growth in Cash Flow
STRONG GROWTH IN CASH FLOW Free cash flow generation up 19.6% while FY ‘19 FY ’18 change investing in the business EBITDA (€m) 1,110.7 968.7 142 • EBITDA up 14.7% on higher operating profit Working capital change (€m) 33.2 -45.5 78.8 • Working capital improved and remains at a Net capital expenditur
Slide 11: New Debt Raised at Lower Interest Rates
NEW DEBT RAISED AT LOWER INTEREST RATES Debt maturity profile (€m) • Raised €1.8b of gross debt (€1,563m net), with 3 new bonds at an average effective interest rate of 1.3% • Blended interest rate on bonds lowered to 2.1% from 2.7% €600m €563m €600m €700m €500m • Net finance costs increased by €25.
Slide 12: First Quarter 2020
FIRST QUARTER 2020 • Strong trading in January and February; weaker results in March as government lockdowns severely impacted the out-of-home channel Net sales revenue per • Q1 FX-neutral revenue declined by -1.2%, or -0.5% Net sales revenue Volume unit case adjusted for trading days and Bambi Q1 2
Slide 13: A Recognised Leader in ESG
PLASTIC-FREE CASES A RECOGNISED LEADER IN ESG AND MULTIPACKS DJSI – 9 years in top 3 in Europe and Global indices MSCI ESG – AAA score for the last 4 years FTSE4GOOD – member since 2002 Carbon Disclosure Project (CDP) – A list for Climate and Water World without Waste targets 2025 FY ’19 target Use
Slide 14: Keeping Our People Safe and Customers Served
KEEPING OUR PEOPLE SAFE AND CUSTOMERS SERVED All employees safe, customers that are open for business supplied, production and logistics operating Decisive actions taken to cut costs and re- prioritise investments Strong balance sheet and sufficient liquidity to meet all financial commitments as wel
Slide 15: For further information please visit our website
For further information on Coca-Cola Hellenic please visit our website at: www.coca-colahellenic.com Or contact our investor relations team: Joanna Kennedy – Investor Relations Director Joanna.Kennedy@cchellenic.com Carla Fabiano – Investor Relations Manager Carla.Fabiano@cchellenic.com