Kofola Ceskoslovensko As · PSECZ:KOFOL
Kofola Ceskoslovensko As — Q1 2023 Earnings Presentation
50 slides from Kofola Ceskoslovensko As's earnings presentation, Jun 1, 2023
Slide 1: 3M 2023 Kofola Group Investor presentation
3M 2023 kofola group Investor presentation 1 June 2023
Slide 2: The Kofola Group
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX The Kofola Group One of the most significant producers of non-alcoholic beverages in CEE and SEE Revenue 3M 2023 CZK 1,712m EBITDA 3M 2023 CZK 218m 11 production plants 2,029
Slide 3: Long-term strategy: market leader or runner-up
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Sales in countries where Kofola our long-term strategy is to be Group is number one or two in the soft drinks market account for 93% of our total revenue. market leader or run
Slide 4: Product segments
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Product segments DISTRIBUTED AND CATEGORY REVENUE SHARE MAIN OWN BRANDS LICENCED BRANDS Carbonated 3M23 36% Beverages 3M22 35% 32% Waters 32% Non-carbonated 10% Beverages 9% 8
Slide 5: Long-term organic growth
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Long-term Organic growth Revenue* (CZKm) EBITDA* (CZKm) Excl. acquisitions Total EBITDA margin 17,5% 16,7% 17,0% CAGR 6.0% 15,1% 8,082 14,1% 7,875 CAGR 2.1% 6,410 6,636 6,
Slide 6: Highlights
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX highlights We have published a presentation summarizing our new Kofola Incubator. Find more information on the following link. According to our research, people spend with the
Slide 7: Our sustainability efforts
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS our sustainability BUSINESS SEGMENTS CONSOLIDATED INDICATORS efforts M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 8: A complex approach is the cornerstone of our sustainability philosophy
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX A Complex APPROACH IS THE CORNERSTONE OF OUR SUSTAINABILITY PHILOSOPHY We have been deeply engaged in the reduction of the impact of our business on the environment since 2010
Slide 9: Sustainability: our 6 key areas of interest
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX SUSTAINABILITY: OUR 6 KEY AREAS OF INTEREST CARBON FOOTPRINT WATER PROTECTION INGREDIENTS AND PRODUCTS We decrease and offset the carbon footprint Water is the cornerstone of
Slide 10: We reduce packaging waste following reduce–reuse–recycle principles
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX WE REDUCE packaging waste FOLLOWING THE REDUCE–REUSE–RECYCLE PRINCIPLES As far as possible, we try not to generate any packaging waste at all. 75 million pints First draught L
Slide 11: We operate with respect to nature, society and individuals
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX We operate with respect to nature, society and individuals. Whole sustainability presentation for download. 3M 2023 INVESTOR PRESENTATION 11
Slide 12: Our latest efforts to put sustainability into practice
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Our latest efforts to put sustainability into practice Kofola Group acquired one third of shares in General Plastic, a. s. (SK), one of the domestic leaders in plastics recycl
Slide 13: Sustainability
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Sustainability: is the innovation of our entire business model; can’t be done by picking and choosing; isn’t about if, but how. 3M 2023 INVESTOR PRESENTATION 13
Slide 14: Kofola group results
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS Kofola group results CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 15: Kofola Group Key 3M 2023 financial indicators
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Kofola Group Key 3M 2023 financial indicators * Revenue (CZKm) Revenue per main business segments (CZKm) Net debt/LTM EBITDA FCF (CZKm) 3M23 3M22 1 712 3M23 3M22 1 506 1,235 2
Slide 16: Key messages
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Key messages* 3M23 results innovations Group revenue up by 206.5 CZKm (13.7%). Targa Florio tonic. Group EBITDA higher by 106.4 CZKm (95.2%). Prager’s Kombucha. NET result inc
Slide 17: Business segments
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS business segments CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 18: Our business consists of three main segments
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX our business consists of three main segments CzechoSlovakia Adriatic Fresh & Herbs 3M 2023 INVESTOR PRESENTATION 18
Slide 19: Revenue | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue | Czechoslovakia CS Adriatic F&H Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 13% CZECHIA 3M23 3M22 On premise 6,052 5,42
Slide 20: Revenue | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue | Czechoslovakia CS Adriatic F&H Revenue (CZKm) 5,641 5,786 4,796 4,434 4,507 2019 2020 2021 2022 LTM 31-3-23 3M 2023 INVESTOR PRESENTATION 20
Slide 21: EBITDA and EBITDA margin | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX EBITDA and EBITDA margin | Czechoslovakia CS Adriatic F&H Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) EBITDA EBITDA margin EBITDA EBITDA margin 20,6% 21,1%
Slide 22: Revenue | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue | ADRIATIC CS Adriatic F&H Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 27% SLOVENIA 3M23 3M22 On premise 3,674 3,505 46%
Slide 23: Revenue | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue | ADRIATIC CS Adriatic F&H Revenue (CZKm) 1,410 1,442 1,258 1,232 1,094 2019 2020 2021 2022 LTM 31-3-23 3M 2023 INVESTOR PRESENTATION 23
Slide 24: EBITDA and EBITDA margin | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX EBITDA and EBITDA margin | ADRIATIC CS Adriatic F&H Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) EBITDA EBITDA margin EBITDA EBITDA margin 6,6% 15,2% 1,3% 14
Slide 25: Fresh & Herbs: UGO
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Fresh & Herbs: UGO CS Adriatic F&H Revenue (CZKm) Stores split Fresh bars & Salad bars Bottles Packaged food Franchise Own 51% Current 49% 116 23 Salad bars 18 90 12 18 9 33%
Slide 26: Fresh & Herbs: LEROS and Premium Rosa
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Fresh & Herbs: LEROS and Premium Rosa CS Adriatic F&H Revenue (CZKm) Premium Rosa Leros Producer of premium natural products such as syrups, juices and jams. 102 97 72 Certifi
Slide 27: Consolidated Financial Performance Indicators
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS Consolidated Financial BUSINESS SEGMENTS CONSOLIDATED INDICATORS Performance Indicators M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 28: Selected financial performance indicators
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Selected financial performance indicators CAPEX (CZKm) Working Capital (WC)* (CZKm) Free CF (CZKm) ROCE** 3M23 3M22 92 3M23 3M22 3M23 3M22 Adjusted EBITDA 218.2 111.8 Adjusted
Slide 29: Selected financial performance indicators: net debt
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Selected financial performance indicators Net debt (CZKm) Net debt / adjusted LTM EBITDA Gross and net debt calculation (CZKm) Net debt / adjusted LTM EBITDA 31-3-23 31-12-22
Slide 30: M&A
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS M&A CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 31: M&A Strategy: where we invest?
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX M&A Strategy | where we invest? Authentic healthy raw materials Extensions of our gastro portfolio Mineral water Strong love brands Synergies with current business EBITDA mult
Slide 32: Goals
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS Goals CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 33: Goals
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Goals 2023 EBITDA 1,150 – 1,250 CZKm Revenue growth 12% Max CAPEX 35% of EBITDA Dividend per share >= 11.3 CZK Net debt / EBITDA < 3.0 3M 2023 INVESTOR PRESENTATION 33
Slide 34: Revenue development
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue development Period Change Apr 2023 vs Apr 2022 - Value c. +4% Apr 2023 vs Apr 2022 – Volume c. (13%) Apr 2023 vs Apr 2022 – Volume (excl. Waters in CZ)* c. (12%) May 2
Slide 35: More about Kofola
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS MORE About Kofola CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 36: History of successful acquisitions and development
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX History of successful acquisitions and development Acquisition of Vinea Establishment of brand in Slovakia – HoReCa started in the Kofola brand most popular CSD Czechia & Slov
Slide 37: History of successful acquisitions and development
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX History of successful acquisitions and development Expansion into coffee Expansion into the Adriatic region and handcrafted cider Acquisition of Radenska – Acquisition of Espr
Slide 38: Kofola ownership structure as of 31 March 2023
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Kofola ownership structure as of 31 March 2023 Free float (key management persons - excl. AETOS owners) 0,6% Currently 0.1 million shares at Prague Stock Exchange. 27,4% Free
Slide 39: Shares owned by key management persons
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Shares owned by key management persons Development in years by type of transaction Increase Decrease 22 615 9 109 3 425 19 064 3 861 22 321 15 059 18 709 133 138 136 563 20 40
Slide 40: Financial stability and further development
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Financial stability and further development We stabilized our financial situation and reduced our debt from around a 4.1 level at the beginning of Covid pandemic to a current
Slide 41: Kofola listed on PSE
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Kofola listed on PSE Earnings per share (CZK) Dividends per share (CZK) Dividend policy 2021 - 2023 14,67 Approximately CZK 300 million in each financial year. 12,05 13,50 13,
Slide 42: Awards
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Awards UGO Czech Superbrands Consumers and the expert jury of the Superbrands Brand Council of PROKOP PR awards the Czech Republic awarded the UGO brand with the Czech The Pub
Slide 43: Appendix
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS Appendix CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 44: Results of Kofola Group | 3M 2023
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Results of Kofola Group | 3M 2023 Reconciliation of reported and adjusted results (CZKm) Reported One-offs Adjusted One-offs Revenue 1,712.4 - 1,712.4 Impairment of 69.4 CZKm
Slide 45: Group Results Comparison 3M
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Group Results Comparison 3M * (CZKm) 3M23 3M22 Change Change (%) Comment Revenue 1,712.4 1,505.9 206.5 13.7% Revenue growth influenced by price increase, Cost of sales (997.2)
Slide 46: Consolidated Income Statement
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Consolidated Income Statement* (CZKm) 3M23 3M22 2022** 2021** 2020** 2019** Revenue 1,712.4 1,505.9 7,875.3 6,636.2 6,171.5 6,409.5 Cost of sales (997.2) (909.7) (4,564.0) (3,
Slide 47: Consolidated Statement of Financial Position
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Consolidated Statement of Financial Position (CZKm) 31.3.2023 31.12.2022 31.12.2021 31.12.2020 31.12.2019 Non-current assets 4,911.7 5,089.0 5,306.3 5,683.6 4,394.0 Current as
Slide 48: Consolidated Statement of cash flows
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Consolidated Statement of cash flows (CZKm) 3M23 3M22 2022 2021 2020 2019 Net cash flows from operating activities (34.6) (125.8) 922.8 1,142.0 785.0 932.3 Net cash flows from
Slide 49: Contact
Contact Should you have any question related to Kofola Group do not hesitate to contact our investor relations office: Lenka Frostová investor@kofola.cz +420 735 749 576 http://investor.kofola.cz/en Kofola ČeskoSlovensko a.s. Nad Porubkou 2278/31A 708 00 Ostrava Czech Republic
Slide 50: Disclaimer
Disclaimer This presentation (“the Presentation”) has been prepared by Kofola ČeskoSlovensko a.s. No warranties or representations can be made as to the comprehensiveness or reliability (“the Company”). of the information contained in this Presentation. Neither the Company nor its directors, manager
Kofola ČeskoSlovensko a.s. — Q1 2023 Earnings Presentation on 6ix