Coca-Cola HBC at a glance

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Transcription:

Disclaimer 2 Unless otherwise indicated, the condensed consolidated 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 document contains forward-looking statements that involve risks and uncertainties. These statements may generally, but not always, be identified by the use of words such as believe, outlook, guidance, intend, expect, anticipate, plan, target and similar expressions to identify forward-looking statements. All statements other than statements of historical facts, including, among others, statements regarding our future financial position and results, our outlook for 2014 and future years, business strategy and the effects of the global economic slowdown, the impact of the sovereign debt crisis, currency volatility, our recent acquisitions, and restructuring initiatives on our business and financial condition, our future dealings with The Coca-Cola Company, budgets, projected levels of consumption and production, projected raw material and other costs, estimates of capital expenditure, free cash flow, effective tax rates and plans and objectives of management for future operations, are forward-looking statements. You should not place undue reliance on such forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect our current expectations and assumptions as to future events and circumstances that may not prove accurate. Our actual results and events could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (File No 1-31466) for Coca-Cola Hellenic Bottling Company S.A. and its subsidiaries for the year ended 31 December 2012. Although we believe that, as of the date of this document, the expectations reflected in the forward-looking statements are reasonable, we cannot assure you that our future results, level of activity, performance or achievements will meet these expectations. Moreover, neither we, nor our directors, employees, advisors nor any other person assumes responsibility for the accuracy and completeness of the forwardlooking statements. After the date of the condensed consolidated financial statements included in this document, unless we are required by law or the rules of the UK Financial Conduct Authority to update these forward-looking statements, we will not necessarily update any of these forward-looking statements to conform them either to actual results or to changes in our expectations.

Overview

4 Coca-Cola HBC at a glance 7 billion revenues Ten consecutive quarters of currency neutral revenue per case growth (as at Q4 2013) 2.1 billion unit cases sold 50 billion servings per annum 28 countries of operation over 3 continents with significant exposure in emerging markets 585 million population # 1 in Sparkling Beverages 38,089 employees growing on average at c.1% per annum in 23 out of 24 markets 68 plants in operation and 324 warehouses and distribution centres Source: FY2013 data unless otherwise stated; Nielsen market share data 4

Key milestones video 5 5

A diverse and balanced portfolio 6 Emerging markets Developing markets Czech Republic, Croatia, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia Armenia, Belarus, Bosnia and Herzegovina, Bulgaria, FYROM, Moldova, Montenegro, Nigeria, Romania, Russia, Serbia, Ukraine Population: 417 million GDP/capita: US$ 7,186 Population: 77 million GDP/capita: US$ 14,854 Established markets Austria, Cyprus, Greece, Italy, Northern Ireland, Republic of Ireland, Switzerland Population: 91 million GDP/capita: US$ 36,929 2013 breakdown Total Volume unit cases 32% 18% 50% 2,061m Net sales revenue 37% 16% 47% 6,874m Comparable EBIT 33% 9% 58% 454m 6

7 Financial highlights Net sales revenue by segment Volume in million unit cases Reported NSR per unit case in Euros 6,544 6,762 6,824 7,045 6,874 2,928 2,862 2,835 2,702 2,540 2,069 2,105 2,087 2,085 2,061 3.16 3.23 3.27 3.38 3.34 1,149 1,140 1,162 1,148 1,106 2,467 2,760 2,828 3,195 3,229 2009 2010 2011 2012 2013 Emerging Developing Established 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Gross profit margin 40.3% 40.4% 37.7% 35.9% 35.5% OPEX as a % of revenue 30.4% 30.3% 30.0% 29.4% 28.9% Comparable EBIT and EBIT margin 9.9% 10.1% 7.7% 6.4% 6.6% 651 687 523 453 454 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 All numbers in million Euros unless otherwise stated 7

The opportunity we see 8 Business growth Per capita development Margin leverage Revenue growth management Market share growth Operational cost control Emerging markets exposure Infrastructure rationalisation and logistics optimisation SAP W2 exploitation and Shared Services Revenue-generating capital expenditure 8

Nigeria Ukraine Egypt Coca- Cola HBC Russia Italy Greece France Romania Poland Serbia & Montenegro Europe average (38 countries) Switzerland Austria Spain Great Britain Belgium Germany United States Mexico 9 Diverse footprint with attractive long-term potential 2013 Total sparkling category servings per capita 584 660 416 461 280 298 301 321 353 Developing Established Emerging 208 201 105 47 93 123 134 142 166 166 204 209 219 220 Per capita consumption: Average number of 237ml or 8oz servings consumed per person per year in a specific market. Coca-Cola Hellenic s per capita consumption is calculated by multiplying our unit case volume by 24 and dividing by the population. Source: The Coca-Cola Company, 2013 data 9

Driving revenue ahead of volume 10 Package mix Channel mix Single-serve 39% Multi-serve 61% Immediate consumption 31% Future consumption 69% RTD Tea, 4.8% Category mix Energy drinks, 0.7% Other still, 0.7% Pricing opportunities Juice, 6.0% Low calorie sparkling beverages, 6.2% Water, 18.5% Sparkling beverages, 63.1% 10

Strategy

12 Deploying initiatives to win in the marketplace Right Execution Daily RED 12

Winning in the marketplace 13 43 % +0.8 18 % +0.8 12 % -2.3 Coca-Cola HBC share in sparkling Biggest competitor share in sparkling Private label share in sparkling 18 % +0.8 8 % +0.7 17% -2.1 Coca-Cola HBC share in NARTD Biggest competitor share in NARTD Private label share in NARTD Source: Nielsen 2013 market share data; company analysis NARTD: Non-alcoholic ready-to-drink 13

Growing revenue ahead of volume 14 Delivered currency-neutral net sales revenue per case growth for 10 consecutive quarters Implemented OBPPC architecture to ensure relevance to the consumer Recovering economies expected to present pricing opportunities Occasion Brands Packages Prices Channel 14

15 Common platform and end-to-end standard processes Common strategy and values Leveraging scale and synergies Sharpening customer focus Business Standardization Sharing knowledge Reducing cost Developing talent 15

Committing to cost leadership 16 Infrastructure optimisation Number of plants -32% since 2008 in the Established and Developing segments Operational control OpEx reduction -190 bps as % of NSR, since 2008 Number of distribution centres -9% since 2008 Number of warehouses -16% since 2008 16

Generating free cash flow 17 Working capital Bolt-on acquisitions Negative year-end position Capital expenditure of local brands mainly in still drinks Strong balance sheet Returning cash to shareholders 5.5-6.5% of NSR Net Debt to Comp. EBITDA at 1.9x Source: FY2013 data unless otherwise stated 17

The Best is Yet to Come! 18 We have medium to long-term opportunities volume and revenue growth improvement in the cost structure We are executing well in every area where we have control Our current platform is more efficient than in peak margin years and should ensure that volume growth in the future adds momentum to margin expansion The initiatives we have in place, combined with the potential for volume momentum, give us confidence that the best is yet to come! 18