Embotelladora Andina SA · BCS:ANDINA_A
Embotelladora Andina SA — Q1 2020 Earnings Presentation
28 slides from Embotelladora Andina SA's earnings presentation, 2020
Slide 1: Corporate Presentation 1Q20
Agenda Page Corporate Presentation 1T 20 [CLIENT NAME]
Slide 2: #goPaperless
In line with our constant effort to improve Agenda communication with the financial market and at the same time reduce waste generation, Page we have developed the Coca-Cola Andina IR App. This is an investor relations application, and we will begin a 100% digital communication plan of our Financial
Slide 3: 1. Company Description
1. Company Description Agenda Page [CLIENT NAME]
Slide 4: History
History Merger with KO Polar (incorporation of new During April we began Agreement Coca-Cola System Andina Andina listed on territories in Argentina, distributing AdeS for joint venture (50/50) becomes the the NYSE. Chile & Paraguay). products, reinforcing distributing for the water and Coca-Cola Fr
Slide 5: A regional and diversified platform (FY19)
A regional and diversified platform (FY19) Volume Revenues Adjusted EBITDA 9% 9% 12% 32% 34% 38% 24% 22% 16% 35% 35% 34% 746 MM UCs US$2,495 MM US$491 MM Chile Brazil Territories: Antofagasta, Atacama, Coquimbo, Territories: majority of the State of Rio de Metropolitan Region, San Antonio, Cacha
Slide 6: Ownership (As of March 31, 2020)
Ownership (As of March 31, 2020) Controlling Group 42.9% 55.7% 30.2% Series A Series B Others 37.0% Coca-Cola 7.3% ADRs 2.4% Chilean Pension Funds 10.3% The Controlling Group is composed of 5 Chilean families with equal parts, that have a shareholders’ agreement which includes TCCC. Series A elects
Slide 7: Superior manufacturing and logistics capabilities
Superior manufacturing and logistics capabilities Argentina Brazil 3 production facilities with a total 3 production facilities with a total of 21 lines of 28 lines ◦ Average utilization ranged from ◦ Average utilization range from 20.0% to 52.0% 34.1% to 79.2% 47 distribution centers 18 dis
Slide 8: Committed to Sustainable Development
Committed to Sustainable Development Generating Social, Economic and Environmental Value in all of our actions Source: Company filings and public releases 7
Slide 9: 2. Market Description
2. Market Description Agenda Page [CLIENT NAME]
Slide 10: Coca-Cola Andina at a glance: Market Structure (As of December 31, 2019)
Coca-Cola Andina at a glance: Market Structure (As of December 31, 2019) Market Share Channel Mix Per capita 13% Consumption 65% 34% (8 oz. bottles) 251 44% 34% 24% 33 25 29% Soft Drinks Waters Juice and On premise Wholesalers Others Soft drinks Waters Juices and Others Supermarkets Mom and Pops Pro
Slide 11: Market Structure (As of December 31, 2019)
Market Structure (As of December 31, 2019) Market Share Per capita Product Mix Market Share Per capita Product Mix Consumption 6% Consumption 7% 10% 9% 63% (8 oz. bottles) 62% (8 oz. bottles) 257 49% 4% 45% 215 17% 18% 29 17 84% 19 19 80% 12 Soft drinks Waters Juices and Others Soft Drinks Waters Ju
Slide 12: Diversified brand portfolio across segments and geographies
Diversified brand portfolio across segments and geographies (As of March 31, 2020) Argentina Brazil Chile Paraguay SSDs1 Juices and other NCBs1 Water Beer Spirit Beverages2 Source: Company filings and public releases 1 SSDs: Sparkling Soft Drinks; NCBs: Non-Carbonated Beverages 2 The complete Diageo
Slide 13: 3. Financial Highlights
3. Financial Highlights Agenda Page [CLIENT NAME]
Slide 14: Track record of profitability, Adjusted EBITDA growth, diversification and strong cash generation
Track record of profitability, Adjusted EBITDA growth, diversification and strong cash generation Sales volume (million UCs) Revenues (CLP$ mm) Argentina Brazil Chile Paraguay Argentina Brazil Chile Paraguay CAGR -2.3% 819.9 1,877,394 1,777,459 1,848,878 1,779,025 778.9 756.2 750.6 746.4 1,672,916 1
Slide 15: Solid Financial Position
Solid Financial Position Financial Debt (CLP$ mm) Financial Debt Summary (CLP$ mm) as of March, 2020 Short Term Financial Debt Long Term Financial Debt Banks Bonds Total Ch$mm 28,290 1,025,335 1,053,625 1,053,625 % 2.7% 97.3% 100% 811,270 772,925 729,899 760,436 772,758 Note: Banks includes: Bank, L
Slide 16: Solid Financial Position
Solid Financial Position Financial Ratios (I) Financial Ratios (II) Net Financial Debt / Adj. EBITDA (3) Financial Debt / Equity Ratio (1) Net Financial Debt (2) / Equity Ratio Net Financial Debt / Adj. EBITDA (w/o MtM CCS) (4) 331.2 267.2 Debt Coverage Ratio (5) 10,0 1.0 6.9 7.5 7.7 9.7 6 1.0 9.5 6
Slide 17: Consolidated Financial Highlights (Billion CLP$)
Consolidated Financial Highlights (Billion CLP$) 2014 2015 2016 2017 2018 2019* 1Q19 1Q20 Total Volume (million UCs) 831 820 779 756 751 746 198 198 Net Sales 1.797 1.877 1.777 1.849 1.673 1.779 447 505 Operating Income 187 216 214 239 225 238 68 76 Operating Margin 10,4% 11,5% 12,0% 12,9% 13,5% 13,
Slide 18: Consolidated Financial Highlights (Million US$)
Consolidated Financial Highlights (Million US$) 2014 2015 2016 2017 2018 2019* 1Q19 1Q20 Total Volume (million UCs) 831 820 779 756 751 746 198 198 Net Sales 3.151 2.868 2.627 2.848 2.569 2.495 668 619 Operating Income 328 329 316 368 348 335 101 93 Operating Margin 10,4% 11,5% 12,0% 12,9% 13,5% 13,
Slide 19: Consolidated Balance Sheet (as of March 31, 2020)
Consolidated Balance Sheet (as of March 31, 2020, in million US$ and million CLP$) Million US$: Assets Liabilities and Equity Cash and Cash Equivalents 453 Current Financial Liabilities 38 Current Assets 404 Other Current Liabilities 341 Non current Assets + Others 2.093 Non-Current Financial Liabil
Slide 20: Dividends and Market Cap (as of March 31, 2020)
Dividends and Market Cap (as of March 31, 2020) Dividend Distribution1 Market Cap (million CLP$) (billion USD) 4,2 3,4 3,3 51.683 2,6 85.475 85.475 75.537 67.586 1,9 22.462 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Dividend Yield2 2015 2016 2017 2018 2019 Series A 3.7% 3.5% 3.3% 3.0% 3.8% Se
Slide 21: 4. Strategy
4. Strategy Agenda Page [CLIENT NAME]
Slide 22: Expansion potential through organic and inorganic growth avenues
Expansion potential through organic and inorganic growth avenues Organic growth Inorganic growth Superior organic growth within the Key role in the consolidation process & portfolio Coca-Cola system development for the Coca-Cola system in Latin America Growth in SSD business Portfolio expansion
Slide 23: 5. Appendix
5. Appendix CttGplg NDINA
Slide 24: Argentina: Main Financial Highlights (Local Currency)
Argentina: Main Financial Highlights (Local Currency (million)) 2014 2015 2016 2017 2018 2019 1Q19 1Q20 Sales Volume (million UCs) 229 234 219 211 202 178 49 46 Net Sales 6.541 8.903 11.343 14.203 22.441 31.566 9.336 8.677 Operating Income 428 829 1.198 1.588 2.158 2.563 1.226 1.312 Operating Margin
Slide 25: Brazil: Main Financial Highlights (Local Currency)
Brazil: Main Financial Highlights (Local Currency (million)) 2014 2015 2016 2017 2018 2019 1Q19 1Q20 Sales Volume (million UCs) 306 291 266 249 249 259 66 67 Net Sales 2.959 3.059 3.037 2.976 3.062 3.467 877 938 Operating Income 354 378 369 414 448 503 153 114 Operating Margin 11,8% 12,5% 12,1% 13,9
Slide 26: Chile: Main Financial Highlights (Local Currency)
Chile: Main Financial Highlights (Local Currency (million)) 2014 2015 2016 2017 2018 2019 1Q19 1Q20 Sales Volume (million UCs) 232 234 232 231 231 240 65 67 Net Sales 492.072 514.733 540.427 551.873 570.939 608.952 156.876 174.452 Operating Income 56.460 63.059 68.879 72.890 82.131 87.978 20.455 27.
Slide 27: Paraguay: Main Financial Highlights (Local Currency)
Paraguay: Main Financial Highlights (Local Currency (million)) 2014 2015 2016 2017 2018 2019 1Q19 1Q20 Sales Volume (million UCs) 63 61 62 65 68 69 18 18 Net Sales 1.010.735 1.033.215 1.107.678 1.227.001 1.337.989 1.405.584 354.575 375.422 Operating Income 157.306 176.418 199.617 221.018 260.735 286
Slide 28: Corporate Presentation 1Q
Agenda Page Corporate Presentation 1T 20 [CLIENT NAME]