GR GRUPO UPO NUTRE NUTRESA SA | | co corpo porate te pr prese esent ntation tion NUTRESA at a Glance April pril 04 04, , 20 2014 14
NUTR NU TRES ESA A at a Glance KEY HIGHLIGHTS 4th largest food company in Latin America by market capitalization Close to 100 year history Well diversified business in terms of markets, categories & raw materials. 7 business units : cold cuts, biscuits, chocolates, coffee, ice cream, pasta and TMLUC (PSD & Snacks). Presence in 15 countries , with 37 manufacturing plants in 11 of these Products sold in 72 countries , in 5 continents No single commodity accounts more than 9% of COGS Business model based on: People + Brands + Distribution 36.726 employees ( 12.045 outside Colombia) (dec-2013) Portfolio of 157 brands with 17 brands selling more than USD 50mm 17 Leading brands in Colombia and Latam 1 million clients attended with more than 11.500 sellers Publicly listed in Colombia, ADR Level I and a market cap of $6,3 bb (dec-2013) We understand sustainable development as economic and social progress that lasts over time, which generates benefits for all and promotes a balance with the environment. 2
Di Diversi sifica ication tion: : 7 7 bus usiness iness un unit its Percentage of total sales of the business unit 86.7% 6.1% 37.5% 49.7% 8.7% 42.8% 27.8% 4.4% 52.1% 43.0% 94.9% 94.6% 21.6% 39.8% 4
Pr Prof oforma orma 2013 3 GN N (TMLUC -12 months USD mm) Sales by EBITDA by International sales by business unit 2013 business unit 2013 business unit 2013 Other Other Other TMLUC TMLUC 2% -1% 0% 11% Cold cuts 12% Pasta Cold cuts Cold cuts $ 476 TMLUC 23% Pasta 3% 28% 30% 30% 4% Ice cream $ 1.352 $ 3.424 Ice cream 9% $ 446* 7% $ 3.156* 13,9% $ 1.076* Coffees Coffees Ice cream Biscuits 12% 15% 14,1%* 4% 20% Biscuits Biscuits Coffees 17% 18% Chocolates 11% Chocolates Chocolates 15% 16% 12% * Grupo Nutresa 2013 official results Figures calculated at COP/USD 1.868,90 5 5
Leading ding regional food company Production / Distribution over 15 countries Products sold in 72 countries , in 5 continents 6
Di Diversi sifica ication tion: : 15 countries 1.6% Other markets 7.2% USA 4.0% Mexico 1.0% Rep. Dominican & Caribbean 6.9% Central America 7.2% Venezuela Production & distribution 60.5% Colombia Distribution 1.0% Ecuador 1.8% Peru 7.6% Chile Malaysia SALES BY REGION – 2013 7 PRO-FORMA WITH TMLUC LAST 12 MONTHS
Di Diversi sifica ication tion: : raw materials GRUPO NUTRESA COMMODITIES INDEX COGS BREAKDOWN (1Q14) GNCI – MARCH 2014 44% 160 11.3% Others (1) 150 Base 100, December 2012 Pack. Mat. 140 144 130 9.4% Pork 120 110 107 101 113 8.0% 100 95 Coffee 90 86 92 80 6.6% Wheat 70 5.0% Beef 2008 2009 2010 2011 2012 2013 1.7% Milk 4.0% Oils & fats Beginning on January 1, 2014, the basket of raw materials 2% Poultry included in the GNCI was updated. The technical specifications of the GNCI may be obtained at : 3.6% Sugar 4.0% Cocoa www.gruponutresa.com/webfm_send/398 (1) Other components with individual participations lower than 1% 8
Di Diversi sifica ication tion: : raw materials 9
Bus usines iness s mod odel el: : People 10
Bus usines iness s mod odel el: : Brands BRAND MANAGEMENT MODEL • Portfolio of 157 brands • 17 brands selling over $50 MM • 22 brands with #1 market share in key markets • 44 brands with over 20 years of existence • 28 brands present in more than one market 11
Bus usines iness s mod odel el: : Brands ands MARKET MA RKET SHARE CO SHARE COLOM OMBIA BIA (60 (60.2%) .2%) + + TML TMLUC UC Cold Cuts Bicsuits Chocolates Coffee Ice Cream Pasta TMLUC 72.9% Chocolate Roast and ground Chile 54.6% 51.1% ICE CREAM confectionary coffee (A) PSD* +0.8% +0.8% N.D. -0.4% 67.9% (A ) 56.0,3% 61.9% (A) +1.7% -0.8% Pasta Hot chocolate 29.5% (B) 63.1% (B) -0.1% Coffee Soluble Coffee (B 16.4% (C ) 41.2% Milk modifiers 28.9% (C) -0.6% -1.0% Mexico PSD* Nuts 27.7% (D) 46.6% -1.2% (D) (A) #2 Carozzi 36.1% (B) #1 Carozzi 44.8% #2 Private labels (C) #1 Nestlé (A) #2 Colombina 8.0% 7.1% #2 La Muñeca (A) #2 Águila Roja #2 Nestlé 12.4% 71.6% (B) #2 Casa Lúker 25.1% #3 Friko 0.8% 29.5% 23.3% (D) #1 Mondelez #3 Mondelez 10.8% (C) #1 Nestlé 67.1% 53.1% (B) #1 Nestlé 45.1% (D) Frito Lay 27.7% *PSD = Powdered soft drinks Source: Nielsen twelve month as of march 2014. (% share as in value and change vs. same period last year) 12 12
Bus usines iness s mod odel el: : Di Dist strib ibution ution REVENUE MIX BY CHANNEL 3% 7% Industrial Food Service (HORECA) 7% Alternative 22% +1mm Supermarket 61% chains Clients Traditional (Mom-and- pop Stores) / Independent +11.500 Retail Stores sellers 13
Bus usines iness s mod odel el: : Distribution COLOMBIA COL OMBIA: A A UN UNIQU IQUE E DISTRIB DISTRIBUTIO TION N CHAL CHALLENGE ENGE SOCIAL CLASS EVOLUTION WHERE THEY GO FOR SHOPPING? 39% 38% 38% 38% 38% 38% 38% 38% 37% 37% 37% 35% 35% 33% 35% 33% 32% 32% 32% 32% 32% 32% 15% 17% 16% 19% Source: Nielsen cps 2013 23% 23% 23% 23% 23% 23% 23% 23% 22% 22% 14% 21% 40% 52% 58% 7% 7% 7% 7% 7% 7% 7% 6% 6% 6% 6% 67% 43% 32% 27% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Upper Class mid-Upper Class Middle Class Lower Class Upper Class Mid upper Class Middle Class Lower Class Source: Nielsen Homescan Supermarkets Mom-and-Pops Others CHANNEL EVOLUTION HOW THEY LOOK? Supermarkets Mom-and-Pops 50% 52% 53% 54% 55% 56% 57% 56% 50% 48% 47% 46% 45% 44% 43% 44% 2006 2007 2008 2009 2010 2011 2012 2013 Base on Nielsen Basket Monitor 14
Ch Channel nnel evol olution ution: : Colombia 100% 90% Traditional (Mom-and- 80% pop stores)/ independent Retail Stores 70% Food Service 65% 66% 66% 66% 66% 67% 67% 67% 67% 69% 69% 69% 70% 60% Industrial 50% 40% Supermarkets Chains 6% 7% 4% 4% 7% 7% 30% 7% 7% 6% 4% 4% 4% 1% 4% 1% 1% 1% 2% 1% 1% 2% 1% 1% 2% 1% 1% 20% 19% 19% 19% 18% 18% 18% 17% 19% 19% 19% 18% 18% 18% Alternative 10% 9% 8% 8% 8% 8% 8% 8% 7% 7% 7% 7% 7% 6% 0% Trim 1 - Trim 2 - Trim 3 - Trim 4 - Trim 1 - Trim 2 - Trim 3 - Trim 4 - Trim 1 - Trim 2 - Trim 3 - Trim 4 - Trim 1 - 11 11 11 11 12 12 12 12 13 13 13 13 14 2011 2012 2013 2014 15
Corporate model 16
MA MAIN IN ST STRATE TEGIC GIC GOAL STRATEGY FOR OUR FIRST CENTURY 1920-2020 “ Our Centennial strategy aims to double our 2013 sales by 2020; with sustained profitability between 12% and 14% of the EBITDA margin. To achieve this, we offer our consumers foods and experiences of recognized and beloved brands , that nourish, generate wellness and pleasure , that are distinguished by the * Through organic growth best price/value relation ; widely available in our strategic region, managed by talented, innovative, committed and responsible people, who contribute to sustainable development.” 17 17
Co Corpor porate te Ph Philosophy ophy an and Per erform ormance ance 18
Differ erent entia iating ting Aspect pects s of our r Business iness Model del 19
Bus usines iness s Ris isks 20
The he Struc uctu ture e of of the he Bus usines iness s Gr Grou oup 21
Co Corpor porate te governance ernance Board of directors 22
Su Sust staina inable le grow owth th 23
Internationalization model 24
2000 Colombia Sig igni Colombia nificant 2002 Chocolates Biscuits icant Expansi Nestlé Nestlé Puerto Rico Costa Rica 2004 Colombia 2005 Panama Colombia Costa Rica 2006 ansion Panama & Peru 2007 Colombia Nicaragua on sin Panama 2008 Costa Rica Colombia Acquisitions (18) ince 2009 Mexico ce 200 2010 Colombia USA 000 Mergers (5) 2011 Dominican Panama Republic 2012 New businesses (6) Malaysia Costa Rica 2013 Colombia Chile 2014 Malaysia 25
Sa Sale les s evol olution ution 3,000 1,076 844 2,500 834 International Colombia 645 2,000 USD MM 694 568 1,500 419 267 2,120 2,056 1,000 1,869 196 1,699 155 1,471 1,434 50 132 45 121 1,241 500 951 794 643 655 663 614 563 0 Total: 12,4% CAGR International: 27.7% CAGR Colombia: 9.4% CAGR 26
In Interna ernationali tionaliza zation tion ph phase ses 27
In Interna ernational tional exp xpansi ansion on mod odel el 28
Effective innovation 29
In Inno novation tion mod odel el 30
Financial highlights 31
2013 3 resu sults lts 32
Bus usines iness s pe performance ormance 33
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