Multiexport Foods S.a. · BCS:MULTI_X
Multiexport Foods — Multi X — North Atlantic Seafood Forum 2022
38 slides from Multiexport Foods's conference presentation, June 2022
Slide 1: The X Evolution
The X Evolution José Ramón Gutiérrez del Pedregal CFO North Atlantic Seafood Forum June 2022
Slide 2: Multi X at a Glance - 2021
Multi X at a Glance - 2021 TOP 1 PRODUCER OF SMOKED PRODUCTS IN CHILE HQ TOP 2 PRODUCER OF ATLANTIC SALMON IN CHILE Total: 2.566 Employees TOP 6 PRODUCER OF ATLANTIC SALMON WORLDWIDE 98 TH TON WFE HARVEST VOLUME $634 MM USD REVENUES $73 MM USD OPERATIONAL EBIT Source: Multi X
Slide 3: Multi X at a Glance - 2021
Multi X at a Glance - 2021 TOP 1 PRODUCER OF SMOKED PRODUCTS IN CHILE FRESH WATER 6 Hatcheries TOP 2 PRODUCER OF ATLANTIC SALMON IN CHILE Total: 2.566 Employees TOP 6 PRODUCER OF ATLANTIC SALMON WORLDWIDE 98 TH TON WFE HARVEST VOLUME $634 MM USD REVENUES $73 MM USD OPERATIONAL EBIT Source: Multi X
Slide 4: Multi X at a Glance - 2021
Multi X at a Glance - 2021 SEA WATER 106 Concessions TOP 1 PRODUCER OF SMOKED PRODUCTS IN CHILE 125 Th. Ton Potential TOP 2 PRODUCER OF ATLANTIC SALMON IN CHILE X Region Total: 2.566 Employees TOP 6 PRODUCER OF ATLANTIC SALMON WORLDWIDE XI Region 98 TH TON WFE HARVEST VOLUME $634 MM USD REVENUES XII
Slide 5: Multi X at a Glance - 2021
Multi X at a Glance - 2021 3 Processing Plants TOP 1 PRODUCER OF SMOKED PRODUCTS IN CHILE CARDONAL Fresh & Frozen Cap: 85.000 tons WFE TOP 2 PRODUCER OF ATLANTIC SALMON IN CHILE Smoked Cap: 7.500 tons WFE Total: 2.566 Employees Puerto Montt, Chile TOP 6 PRODUCER OF ATLANTIC SALMON WORLDWIDE 98 TH TO
Slide 6: Multi X at a Glance - 2021
Multi X at a Glance - 2021 TOP 1 PRODUCER OF SMOKED PRODUCTS IN CHILE TOP 2 PRODUCER OF ATLANTIC SALMON IN CHILE Total: 2.566 Employees TOP 6 PRODUCER OF ATLANTIC SALMON WORLDWIDE Multi X USA 98 (Sales & Distribution) TH TON WFE HARVEST VOLUME $634 MM USD REVENUES $73 MM USD OPERATIONAL EBIT Source:
Slide 7: Multi X Sales 2021
Multi X Sales 2021 Europe (2%) $13 MM USD North America (62%) $393 MM USD Asia (7%) $41 MM USD South America (29%) $287 MM USD Source: Multi X
Slide 8: COVID-19
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Slide 9: Demand: Covid-19: The Game Changer
Covid-19: The Game Changer + Demand - Game Changer Pre Covid Break Pandemic Recuperation Post Pandemic Situation Pandemic Situation Food Service Retail Salmon Consumers have 49% 1° Seafood people turned to their own Shrimp are eating more kitchens to prepare 40% 2° often at home Salmon Tuna 33% 3° S
Slide 10: What is driving seafood consumption?
What is driving seafood consumption?
Slide 11: Driver 1: Younger Generations
Driver 1: Younger Generations Millennials Frequent Seafood Consumers Seafood Consumers 35% 44% o Demand products that are easy to prepare or consume Convenience o Small packages predominate o E-Commerce o Less planned purchases Source: GlobeScan, SeaFood Source
Slide 12: Driver 2: Digital Adoption
Driver 2: Digital Adoption o Consumers turned to digital activities: • E-Commerce o Demand more and instant information o Consumers are more aware of what they buy, looking for transparency in the information Source: Euromonitor International – The Power of Seafood
Slide 13: Driver 3: Nutrition & Health
Driver 3: Nutrition & Health During the pandemic, there were numerous drivers that explained the increase in Seafood consumption. The main driver being the desire to eat healthier (54%) Source: Fair Trade Seafood Program - The Power of Seafood, FMI
Slide 14: Driver 4: Sustainability
Driver 4: Sustainability 86% Of consumers want to see more sustainable products in the post-pandemic market 3 in 4 Consumers say they consider sustainability when choosing between brands 42% Of consumers that preferred farmed salmon chose it because its considered more sustainable than other protein
Slide 15: Seafood Consumption Drivers
Seafood Consumption Drivers Millennials & GenZ Digital Adoption Nutrition & Health Sustainability There is a new post-pandemic consumer, with new consumption trends and looking for new products Source: Fair Trade Seafood Program - The Power of Seafood, FMI
Slide 16: Slide 16
Slide 17: Demand: US Food Market
Demand: US Food Market Growth in Retail Sales 2019 to 2021 Annual Sales by Department 2021 30% $82,3 Billion $71,7 Billion Meat 18% $40,8 Billion Fruits & Veg. 14% $16,9 Billion Deli 11% Meat Fruits & Veg. Deli Seafood Source: The Power of Seafood, FMI I US Market
Slide 18: Demand: US Seafood Market
Demand: US Seafood Market Growth in Sales 2020 YoY Growth in Sales 2021 YoY Crab +60.2% Annual Sales by Department 2021 +7.5% Shrimp +29.6% 4.971 Million Shrimp +3.3% 3.443 Million +24.7% Crab +0.5% 1.979 Million 1.690 Million Tuna +20.4% Tilapia -3.0% 639 Million Shrimp Salmon Tuna Crab Tilapia Til
Slide 19: Demand: Frozen Salmon
Demand: Frozen Salmon US Seafood Sales by Category 15% Frozen Salmon 42% Sales Growth +46.2% 43% Frozen Frozen Fresh Grocery US Salmon Sales by Category 7% 19% 2019 2021 74% Fresh Frozen Fresh Grocery +33.6% Source: The Power of Seafood, FMI I US Market – Multi X
Slide 20: Frozen Carbon Footprint
Frozen Carbon Footprint Fresh Fillet has 52% more Co2 emissions than Frozen Package is another important driver in the Carbon Footprint 6,700 kms Fresh Trim D 8,150 kms Polystyrene package emissions Frozen Trim D 10.5 Kg Co2 /Kg product are 14 times higher than carton packages 7.0 Kg Co2/Kg product
Slide 21: Slide 21
Slide 22: Suitable Areas for Traditional Salmon Farming
Suitable Areas for Traditional Salmon Farming Suitable for Salmon Farming Source: Multi X
Slide 23: Atlantic Salmon Supply Projections
Atlantic Salmon Supply Projections Chile Norway Global Supply -1% 0% 724 1.532 717 1.529 4% Th. Ton WFE Th. Ton WFE 7% -1% 5% 2.900 2.987 7% 2.860 4% 2.715 7% 2.584 2.318 2.408 2.174 Th. Ton WFE 2021 2022 2021 2022 Canada Rest of the World 142 -9% -3% 129 502 485 Th. Ton WFE Th. Ton WFE 2016 2017 20
Slide 24: Considering these drivers… What are we up to?
Considering these drivers… What are we up to ?
Slide 25: Multiexport Foods became Multi X
In 2021... Multiexport Foods ir} became Nourishing the future MULTI X> Nourishing the future
Slide 26: The X Evolution
The X Evolution
Slide 27: Our Mission
Our Mission “To provide high quality salmon from our farms in the South of Chile to tables around the world, making a positive impact on people´s lives and our planet"
Slide 28: Strategic Pillars
Strategic Pillars Nourishing the Future by Caring for the World Consumer New Operational Sustainability Growth Products Technologies Efficiency Shareholders Value
Slide 29: Getting Closer to the Consumer
Getting Closer to the Consumer Consumer Products High Cuisine | Tier 1 Grocery Focused | Grocery Value Added | Mass Retailer Price Conscious | Discounter Source: Multi X
Slide 30: Consumer Products Development
Consumer Products Development Consumer Products Source: Multi X
Slide 31: From Commodity to Value Added
From Commodity to Value Added Consumer Products Sales by Product (% Ton WFE of the total) 4% 7% 7% 6% 8% 11% 13% 13% 18% 59% 55% 53% 60% 56% 56% 51% 56% 51% 38% 41% 36% 33% 36% 33% 36% 30% 30% Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 HON FILLETS CPG/VAP Source: Multi X
Slide 32: Strategic Partnership: Cargill
Strategic Partnership: Cargill Consumer Products Capabilities we need to develop value added strategy: US$ 134.4 bn (2021) 155 Annual Revenues Years of Experience Research& Research & Development Presence in 70 155,000 Development Countries Employees Marketing #1 +7.000 Marketing Approach Processing
Slide 33: Sustainability
Sustainability Sustainability Carbon Neutral by 2030 Scope 1 & 2 10% Top Ranked Promote Frozen Products to further decrease emissions from Scope 3 8th Producer of sustainable protein
Slide 34: Multi X Organic Growth
Multi X Organic Growth Growth 12,2% CAGR Last 10 Years 125 120 99 98 100 96 95 82 80 76 Th. Ton WFE 69 64 61 58 60 48 45 42 39 40 33 34 34 35 31 28 23 23 20 20 0 2023- 2025e Coho Trout Salar 7.3% CAGR Industry Last 10 Years
Slide 35: Hybrid Farming
Hybrid Farming New Technologies o Land based + Traditional farming o Sate-of-the-art hatchery under construction o JV with Sealand Aquaculture - MultiSea o Post Smolt 500 – 1,000 grs o Stage 1: 6,6MM @ 250-500 grs: SW 10 months o Stage 2 @ 750-1,000 grs: SW 6-7 months Operation started in October 20
Slide 36: Two Strong Partners to Achieve Our Goals
Two Strong Partners to Achieve Our Goals Nourishing the Future by Caring for the World
Slide 37: Capital Markets Day
Capital Markets Day 28/29 Nov. Puerto Montt, Chile
Slide 38: Thank you!
Thank you! @salmonmultix @multi_xsalmon multi-xsalmon @elmejorsalmon