Kofola Ceskoslovensko As · PSECZ:KOFOL
Kofola Ceskoslovensko As — 9M 2023 Earnings Presentation
48 slides from Kofola Ceskoslovensko As's earnings presentation, Nov 22, 2023
Slide 1: 9M 2023 Kofola Group Investor presentation
9M 2023 kofola group Investor presentation 22 November 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 9M 2023 6,620 CZKm EBITDA 9M 2023 1,137 CZKm 11 production plants 2,03
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 92% 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 9M23 39% Beverages 9M22 37% 34% Waters 35% Non-carbonated 8% Beverages 9% 6%
Slide 5: Long-term development
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Long-term development Revenue* (CZKm) EBITDA* (CZKm) Excl. acquisitions Total EBITDA margin 17.5% 16.7% 17.0% CAGR 7.1% 16.2% 8,431 14.1% 7,875 CAGR 5.1% 6,636 1,367 6,410
Slide 6: Highlights
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX highlights UGO continues on its merry-go-round. In Q3, its EBITDA margin exceeded 21% and the YTD net result was in black numbers! A new freshbar in Florenc (Prague) has been
Slide 7: Highlights
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX highlights Kofola’s shareholders can process the dividend payment online, via Bank ID. Thanks to Česká spořitelna, the whole process can take less than one minute. Our CS CEO
Slide 8: 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 9: 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. 9M 2023 INVESTOR PRESENTATION 9
Slide 10: 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 11: Kofola Group Key QTD financial indicators
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX * Kofola Group Key QTD financial indicators ** Revenue (CZKm) Revenue per main business segments (CZKm) CF*** (CZKm) 2,567 3Q23 3Q22 2,347 1,827 1,668 382 512 476 141 228 203
Slide 12: Kofola Group Key YTD financial indicators
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX * Kofola Group Key YTD financial indicators ** Revenue (CZKm) Revenue per main business segments (CZKm) CF*** (CZKm) Net debt/LTM EBITDA 6,620 6,064 9M23 9M22 4,742 4,335 2.97
Slide 13: Revenue by product segment
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue by product Segment Revenue QTD (CZKm) 1,047 3Q23 3Q22 905 882 842 189 198 140 132 124 185 167 103 Carbonated beverages Waters Non-Carbonated beverages Syrups Fresh&Sal
Slide 14: Revenue by countries
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue by countries Revenue QTD (CZKm) 1,384 3Q23 3Q22 1,246 636 578 317 273 154 166 60 65 16 19 Czech Republic Slovakia Slovenia Croatia Poland Other Revenue YTD (CZKm) 3,69
Slide 15: Key messages
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Key messages* QTD results YTD results innovations Group revenue up by 220.0 CZKm (9.4%). Group revenue up by 555.7 CZKm (9.2%). Targa Florio tonic. Group EBITDA higher by 93.7
Slide 16: Business segments
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS business segments CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 17: 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 9M 2023 INVESTOR PRESENTATION 17
Slide 18: Revenue QTD | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue QTD| Czechoslovakia CS Adriatic F&H Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 16% CZECHIA 3Q23 3Q22 Change 1,813 On prem
Slide 19: Revenue YTD | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue YTD| Czechoslovakia CS Adriatic F&H Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 14% CZECHIA 9M23 9M22 Change 4,693 4,293 O
Slide 20: Revenue and EBITDA | Czechoslovakia
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue and EBITDA | Czechoslovakia CS Adriatic F&H Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) EBITDA EBITDA margin Revenue EBITDA EBITDA margin 20.6% 21.1
Slide 21: Revenue QTD | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue QTD | ADRIATIC CS Adriatic F&H Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 25% SLOVENIA 3Q23 3Q22 Change 501 On premise
Slide 22: Revenue YTD | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue YTD | ADRIATIC CS Adriatic F&H Revenue by packaging formats* (CZKm) Sales in litres (´000) At home On the go On premise 25% SLOVENIA 9M23 9M22 Change 1,178 1,117 On pr
Slide 23: Revenue and EBITDA | Adriatic
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue and EBITDA | ADRIATIC CS Adriatic F&H Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) EBITDA EBITDA margin Revenue EBITDA EBITDA margin 24.9% 15.2% 14.8
Slide 24: 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 395 57 322 51% Current 49% 40 61 22 Salad bars 29 13
Slide 25: 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 278 Producer of premium natural products 268 such as syrups, juices and jams. 201 190 C
Slide 26: Revenue and EBITDA | Fresh & Herbs
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue and EBITDA | Fresh & Herbs CS Adriatic F&H Adjusted EBITDA (CZKm) Long-term view | Adjusted EBITDA (CZKm) EBITDA EBITDA margin Revenue EBITDA EBITDA margin 14.8% 10.0%
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 Net debt (CZKm) Net debt / adjusted LTM EBITDA Gross and net debt calculation (CZKm) Net debt / adjusted LTM EBITDA 30-9-23 31-12-22
Slide 29: M&A
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS M&A CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 30: 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 31: Goals
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS Goals CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 32: Goals
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Goals 2023 EBITDA c. 1,250 CZKm Revenue growth 11% Max CAPEX 35% of EBITDA Dividend per share 13.5 CZK Net debt / EBITDA < 3.0 9M 2023 INVESTOR PRESENTATION 32
Slide 33: Revenue in main season and October
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Revenue in main season and october Period Change Jun 23 vs Jun 22 – Value c. +10% Jun 23 vs Jun 22 – Volume c. (10%) Jul 23 vs Jul 22 – Value c. +8% Jul 23 vs Jul 22 – Volume
Slide 34: 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 35: 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 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 Expansion into coffee Expansion into the Adriatic region and handcrafted cider Acquisition of Radenska – Acquisition of Espr
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 Kofola Incubator development Acquisition of 34% share in Zahradní OLLA 2023+ Getting closer to raw materials 2023 Upcoming a
Slide 38: Kofola ownership structure as of 30 September 2023
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Kofola ownership structure as of 30 September 2023 Free float (key management persons - excl. AETOS owners) 0.6% Currently 0.1 million shares at Prague Stock Exchange. 27.4% F
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 13,071 9,000 19,064 3,861 22,321 15,059 18,709 137,209 20,403
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 EPS P/E 27 29 Approximately CZK 300 million in each financial year. 23 25 1
Slide 42: Appendix
THE KOFOLA GROUP SUSTAINABILITY KOFOLA GROUP RESULTS BUSINESS SEGMENTS Appendix CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX
Slide 43: Results of Kofola Group | 9M 2023
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Results of Kofola Group | 9M 2023 Reconciliation of reported and adjusted results (CZKm) Reported One-offs Adjusted One-offs Revenue 6,620.0 - 6,620.0 Release of impairment of
Slide 44: Group Results Comparison 9M
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Group Results Comparison 9M * (CZKm) 9M23 9M22 Change Change (%) Comment Revenue 6,620.0 6,064.3 555.7 9.2% Revenue growth influenced by price increase, Cost of sales (3,616.5
Slide 45: Group Results Comparison 3Q
THE KOFOLA GROUP SUSTAINABILITY GROUP RESULTS BUSINESS SEGMENTS CONSOLIDATED INDICATORS M&A GOALS MORE ABOUT KOFOLA APPENDIX Group Results Comparison 3Q* (CZKm) 3Q23 3Q22 Change Change (%) Comment Revenue 2,567.2 2,347.2 220.0 9.4% The sold volume decreased by 9%, At home Cost of sales (1,346.0) (1,
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) 9M23 9M22 2022** 2021** 2020** 2019** Revenue 6,620.0 6,064.3 7,875.3 6,636.2 6,171.5 6,409.5 Cost of sales (3,616.5) (3,497.0) (4,564.0)
Slide 47: 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 48: Authorization and Disclaimer
Authorization This presentation has been authorized by the Board of Directors of Kofola ČeskoSlovensko a.s. on 22 November 2023. Disclaimer This presentation (“the Presentation”) has been prepared by Kofola ČeskoSlovensko a.s. control of the Company, or cannot be predicted by it. (“the Company”). No
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