PINAR ENTEGRE ET VE UN SAN. A. Ş . PINAR ENTEGRE ET VE UN SAN. A. Ş .
Company History 1985... Türkiye’s first private integrated modern meat plant P ı nar Meat was established. 2010 1998 Meat obtained at slaughterhouse under 2004 • ‘Open-End’ sausage, salami, hygienic conditions and fully-automated P ı nar established first full-integrated soudjouk product group that can packages sausage flavored with garlic, P ı nar Meat was granted TS turkey production facilities in Turkey be consumed at one time was salami, sausages and other delicatessen ISO 14001 Environmental and introduced white turkey meat. created for our customers products were appreciated by the Management System consumers. • ‘Pizzatto Italiano’ has been added to P ı nar Pizza family 2001 1988 • With various sizes and flavors, P ı nar Meat produces traditional Birma ş Markets were established to "Gourmet Burger" was added to Turkish döner food, preserving sell carcase meat products by P ı nar the frozen product family its original taste, and offered for Meat. sale throughout Turkey. 1985 ’88 ’90 ’95 ’00 ’02 ’04 ’06 ’ 08 ’09 ’10 1994 2009 2001 2004 P ı nar Meat became first meat New Launches 1987 production Company to which TS P ı nar Meat, realised Nine varieties of meat balls • P ı nar Misket Köfte ISO 9002 Quality System production of frozen were introduced under the First hamburger meatball in (Meatballs) Certificate has been awarded. sea products. concept of Türkiye’s Meat Türkiye was produced upon Balls. 2000 • P ı nar Pizzatto cooperation between P ı nar 2003 Alaturka 2008 Meat and McDonald’s. P ı nar P ı nar Meat produced sliced delicatessen P ı nar Meat passed to TS Meat introduced frozen ready varieties at full-automated modern P ı nar Et started Lean 6 Sigma ISO 9001-2000 Certificate. food to the Turkish people. facilities called by ‘Clean Room’ implementation as a first implementing institution of Page 1 Turkish Food Sector. Pınar Et
Distribution & Growth of Fast-Moving Consumer Goods � Food & Beverage have 45,4 % of all FMCG 9M 2009 9M 2010 Size of Total Market (000 TL) 14,2 % 37,799,000 43,149,000 Fast-Moving Cosumer Goods (Including Cigarette) Share of Size % 9M 2010 CLEANING; CLEANING; OTHER; 0,6 OTHER; 0,6 4,4 4,4 CIGARETTE; 41,5 CIGARETTE; 41,5 FOOD AND BEVERAGES FOOD AND BEVERAGES 45,7 45,7 PERCONAL CARE; PERCONAL CARE; Kaynak: Nielsen, Eylul 2010 Kaynak: Nielsen, Eylul 2010 Source: Nielsen, September 2010 Page 2 Pınar Et
Category Turnovers and Growth � Meat and Meat Products; Has the greatest share of food and beverages category by 18%. SPENDING SHARE % SPENDING SHARE % 9M 2009 9M 2009 9M 2010 9M 2010 FAST-MOVING CONSUMER GOODS FAST-MOVING CONSUMER GOODS 100 100 100 100 Food & Beverage Food & Beverage 86.0 86.0 85.6 85.6 General Food Products General Food Products 15.5 15.5 15.3 15.3 Meat & Meat Products Meat & Meat Products 18.4 18.4 18.1 18.1 Oils Oils 6.2 6.2 5.7 5.7 Dairy Products Dairy Products 15.1 15.1 15.7 15.7 Snacks Snacks 8.6 8.6 8.9 8.9 Beverage Beverage 13.2 13.2 13.2 13.2 Other Food Product Other Food Product 8.9 8.9 8.8 8.8 Personal Care Products Personal Care Products 7.1 7.1 7.6 7.6 Body Care Products Body Care Products 2.6 2.6 2.8 2.8 Hair Care Products Hair Care Products 1.3 1.3 1.4 1.4 Paper Products Paper Products 3.2 3.2 3.4 3.4 Cleaning Products Cleaning Products 6.5 6.5 6.5 6.5 Laundry - Dishwashing Products Laundry - Dishwashing Products 5.1 5.1 5.0 5.0 Other Cleaning Products Other Cleaning Products 1.4 1.4 1.4 1.4 Other Other 0.3 0.3 0.3 0.3 Page 3 Source: IPSOS, September 2010 Pınar Et
Market at a Glance Meat and Meat Products Sector in Turkey 2010 9M (TL) � In 2009 ; Delicatessen 913 Million � Approximately 2 million tons of meat production Ready Meals 81 Million � Red Meat Market 800 thousand tons, and nearly 5.8 billion - Frozen Meat 14 Million USD - Fresh cooked 67 Million � Registered delicatessen market, 100 thousand tons (1 billion USD) Source: Ipsos KMG, retail only (Total market is estimated to be around 200 thousand tons.) PROCESSED MEAT MARKET (tons) PENETRATION % Meat & meat products Turkey Red Meat Poultry Delicatessen 98,5 98,4 99,0 93,9 93,1 92,8 100 84,1 84,3 83,8 83,4 82,4 80,4 80 60.210 61.000 60 59.323 60.000 58.664 40 59.000 58.000 20 3,6 3,0 4,2 57.000 0 2008 9 M 2009 9 M 2010 9M YTD Sept'08 YTD Sept'09 YTD Sept'10 Source: Nielsen Page 4 Source: IPSOS KMG Pınar Et
Market at a Glance Growth Potential Shift From Unpackaged to Packaged Volume (%) -5% 13% � Compound annual annual growth rate of processed meat market is 18% 7% 90,0 80,6 8.1% between 2003-2009. 75,4 -2% 80,0 1% 69,1 69,6 63,6 62,9 70,0 60,0 � In the first nine months of 2010, approximately 83,4% of 50,0 39,6 38,4 37,5 households in Turkey at least once consumed delicatessen 40,0 products and 85% of these households repeated their purchases. 30,0 20,0 10,0 0,0 Soudkjouk Sausage Salami YTD Sep'08 YTD Sep'09 YTD Sep'10 Source: Ipsos KMG � Per Capita Meat Consumption (Kg) Growth Potential 120 � Per capita meat consumption is increasing but still 101 100 very low compared to EU (EU=66 kg ; TR=28 kg) 80 66 � Per capita meat consumption is expected to increase 60 from 28 kg to 30 kg. 28 40 20 Shift to packaged from unpackaged processed meat � 0 USA EU Türkiye � Approval of exporting poultry products to EU and Russian markets Page 5 Pınar Et
Key Players in Processed Meat Products Sector Leader in processed meat category with 20% market share MARKET PRODUCT SHARE POSITION � The packaged meat market is composed of national peers such as FROZEN READY MEAL Aytac, Polonez, Banvit and Maret. (MEAT) 57% LEADER � P ı nar is ahead of its competitors and i s the market leader of the SALAMI 34% LEADER processed meat sector. SAUSAGE 27% LEADER SOUJOUK 16% LEADER TOTAL DELICATESSEN 20% LEADER MARKET SHARE COMPARISON 70 60 50 40 Pınar 30 Best Competitor 20 10 0 Frozen Salami Sausage Soujouk Ready Meal Source: Nielsen Page 6 Pınar Et
Marketing – New Products & Product Differentiations Many new products were launched to the market New Products: � P ı nar Misket Köfte (meatballs) P ı nar Pizzatto � Product Differantiation: � P ı nar Aç Bitir Salam (easy � Multiple Packaging open) � P ı nar Bal ı k Köfte � P ı nar Ç ı t ı r Bal ı k (fish) � P ı nar Kavurma � P ı nar Bal ı k Burger Diversification of the new packaging that responds to market trends :easy-open, optimum shelf life, smaller packaging Page 7 Pınar Et
P ı nar Et Highlights One of the leading enterprises in FMCG sector in Turkey Strong brand equity, market segment leader in many sub FMCG More than 300 SKU’s 1000 employees High levels of consumer satisfaction Diversified suppliers of live animals Powerful distribution network (access to 155 000 sales points) Technical experience & industry technical knowledge (know how) High quality, hygienic production in the EU standards Competitive cost structure and ongoing cost improvement Advanced IT (Information Technology) applications (SAP systems connected to the dealers) In 2009,, 75% of all households in Turkey bought at least one P ı nar Product S ource: IPS OS Household Panel December’ 09 Page 8 Pınar Et
Sales of the Product Groups and Distribution Channels Product Groups 31% 16% Delicatessen Frozen Meal Meat Other 4% 49% Distribution Channels 2% 18% YBP DIRECT EXPORT 80% According to net sales for 2010 ı H. Page 9 Pınar Et
Supply Know how, strong relationship with farmers, high quality in supplied meat � Purchase operations spread out 6 territories with 10 vets and agriculture engineers, 7,000 farmers, yearly 50,000 cattles supply. � Improves and supports “ Contracted Stockfarming” in order to supply best quality cattle under control of Vets � Red meat is procured primarily from cattle farmers in Turkey � All live turkeys and a small part of cattles is sourced from the Group’s agribusiness unit, Çaml ı Yem Besicilik � The Group aims to sustain and further develop its competitive advantage in the meat industry by continuing to adopt policies for food safety and traceability Page 10 Pınar Et
Production Quality & Hygiene at all stages of production, and more rigorous internal quality control � Turkey’s first integrated meat process facility � Through continuous investment in modern and efficient production technologies � Use of modern technology in production lines İ zmir- (16 product lines) Total Area : 330,000 m2 Closed Area : 46.000 m2 � The first Quality management system documents owned in its sector , TSE-ISO-EN 9000, 14000, 18001, 22000 � Cooperation with McDonald’s from the beginning of its operations in Turkey. � SAI GLOBAL independent organization audits each year High level of hygiene and quality at every stage Page 11 Pınar Et
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