Arabica and Robusta Annual Average Prices ($/ton) and Change vs. previous year average 6,000 5,612 Robusta Arabica 5,000 3,975 3,855 3,718 4,000 2,800 2,754 3,000 2,210 2,039 2,005 1,851 2,000 1,615 1,485 1,000 0 Average 2009 Average 2010 Average 2011 Average 2012 Average 2013 Average 2014 60.0% 51.0% 44.3% 50.0% 36.8% Robusta Arabica 40.0% 32.8% 30.0% 20.0% 8.8% 8.3% 10.0% 0.0% -10.0% -7.7% -9.2% -20.0% -30.0% -28.6% -31.3% -40.0% ave '10 vs. '09 ave ave '11 vs. '10 ave ave '12 vs. '11 ave ave '13 vs. '12 ave ave '14 vs. '13 ave 29 Confidential
TRÊS CORAÇÕES (3C) 50/50 JOINT VENTURE BETWEEN STRAUSS COFFEE AND SAO MIGUEL GROUP 30 Confidential
Três Corações Sales Mainly due to (50% as consolidated by Strauss, NIS mm) BRL devaluation vs. ILS; 3C growth in local currency +12.2% in Corporate 2013 2,000 Rebranding 1,778 1,800 1,708 1,697 1,600 1,388 1,400 Penetration of Sao Paulo 1,200 1,137 1,025 946 1,000 50/50 partnership 800 with Santa Clara 605 600 400 165 200 107 84 80 53 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Brazil entry Source: Company’s public fillings. Starting in 2006 and thereafter, figures represent SCBV 50% share in 3C JV. 31 Confidential
: A Significant Opportunity 32 Confidential
Três Corações Alimentos S.A - Snapshot (BRL mm for 100% ownership and including inter-company sales) 2,039 Sales 1,731 1,510 1,814 FY'12 FY'13 YTD'13 YTD'14 GP and GM 535 438 609 30.9% 386 29.8% 29.0% 21.3% Includes an overall EBIT impact of the launch of TRES FY'12 FY'13 YTD'13 YTD'14 single portion multi beverage system of ~BRL 45mm (2.6% of EBIT Margins sales) in YTD’ 14, 172 EBIT and 154 compared to minor 205 impact in the (1) equivalent period in 89 10.2% 2013; (for 100% 9.9% 10.1% ownership). 4.9% FY'12 FY'13 YTD'13 YTD'14 3C (JV in Brazil): a 50%/50 % JV in Brazil with São Miguel Group. Source: Três Corações Alimentos S.A Consolidated Interim Financial Statements as September 30 th , 2014. (1) EBIT before Other Expenses/ Income. 33 Confidential
1 Strauss Group at a Glance 2 Strauss Israel 3 Strauss Coffee 4 Sabra 34
Sabra, our 50/50 JV with PepsiCo, is a clear market leader in the U.S. in hummus (~63% value market share) and in refrigerated dips and spreads (#1; ~28% value market share) 35
We are uniquely positioned to benefit from the protein-rich, fresh, better for you food trend in the U.S. 36
Sabra Financial Snapshot (Based on non GAAP adjusted figures for 50% share) Q3 ’ 14 LTM Sales: NIS 603mm (USD 154mm (1) ) 2009 – 2013 Sales CAGR: 27.3% 2009 – 2013 Sales CAGR exc. FX: 30.0% Q3 ’ 14 LTM EBIT and EBIT Margins: NIS 87mm; 14.4% Margin Contribution to STRS Sales and EBIT: 7% and 11%, respectively (1) Conversion from NIS to USD based on USD 1 = NIS 3.924, as of January 30 th , 2015. 37
Sabra’s Sales (USD mm for 100% Ownership) $350 Expanding into $300 $314 New plant Canada in VA; Sabra $250 $261 acquires Salsa company for $217 $200 $33mm PepsiCo $150 acquires $159 50% of Sabra for Acquire of $100 $45mm 50% of Sabra for $110 $8.8mm $50 $81 $55 $34 $22 $18 $9 $12 - 38
Sabra’s Evolution of Hummus Value Market Share 2005 2014 (1) Sabra Other Other 10% 12% 20% Cedars 4% PL PL 10% 3% Athenos (Kraft) Athenos 31% Cedars (Kraft) Sabra 14% 4% 63% Tribe (Nestle) 7% Tribe (Nestle) 22% Source: IRI Reviews. 39 (1) IRI ILD Total US (Incl Club ex Costco); YTD ending 10.05.14 vs YA
“Hummus Is Conquering America” Mass Media Coverage Spreads the Word, Raises Awareness and Establishes Hummus as America’s Next Top Food Trend Steve Colbert gives hummus a place in pop culture 40
Fresh Dips in the US projected to reach USD 3B by 2020* Anchored by strong hummus, with all other Sabra categories also driving growth Dips USD Growth 2009-2013; Market Sizes in USD MM Total Fresh Dips 1,628 CAGR 9.4 % * US total food and beverage CAGR 3.0% 1,138 Hummus CAGR 18 . 5 % 636 Salsa CAGR 8 . 8 % 322 268 191 Guacamole 160 CAGR 15 . 2 % 91 31 1.8 Yogurt Dips 2009 2010 2011 2012 2013 CAGR 103 . 1 % Source: IRI (data in Retail Selling Price), Infoscan MULOC, 2009-2013 41 * Internal Sabra estimates
Sabra Hummus New Plant Expansion Doubling production capacity while further enhancing production capabilities 42
Sabra Hummus New Plant Expansion (cont’d) 43
Sabra Hummus New Plant Expansion (cont’d) 44
Appendices 45
Appendix I: STRAUSS GROUP 46
2014 Strauss Group Business Structure Public ~35% Strauss Group (30.6.14) PepsiCo-Strauss Strauss Israel Strauss Coffee Max Brenner Strauss Water 12% Dips & Spreads 25.1% 20% 50% Dairy Israel Israel Brazil Sabra Obela 50% Israel 28% Yotvata USA USA Mexico UK Poland Canada Australia Australia Confectionery 50% China Romania Philippines 50% 50% Salty Snacks Business Russia Partners Singapore Salads Network Serbia Japan 49% Yad Mordechai Ukraine Russia 47
Strauss Group is a Partner to Some of the World's Leading Consumer-Facing Brands • Since 1969 • 20% stake in Strauss Dairy business • Additional licensing agreement for the use of Danone’s Dairy know-how and trademarks primarily in Israel Minority Ownership • Since 2008 Accounted for as • 25% stake in SCBV bought at a post money equity Coffee valuation of about USD 1.2Bn (100%) Minority Interest • July 2013: announced that TPG and Strauss are reviewing (SCBV) possible TPG exit alternatives from SCBV • Water Since 2012 , 2012-2014 72% (STRS) 28% Virgin; Starting January 1 st 2014 Strauss Water achieved control in VSW • Since 1990 Salty • Additional licensing agreement for the use of PepsiCo’s Jointly Controlled Partnerships (50%/50%) Snacks know-how and trademarks primarily in Israel Accounted for under the Equity Sabra; Method; • Since 2007 (Sabra) and 2012 (Obela) Obela Proportionately Consolidated 3C under the Salty (Coffee Snacks • Group’s non Since 2005 Brazil) GAAP adjusted figures Water • Since 2011 (Haier) • Haier: 50%/50% 48
Net Debt and Net Debt /EBITDA (LTM) (Non-GAAP adjusted EBITDA, net debt includes partnerships; NIS mm) 2,000 3.0x 1,846 1,800 1,690 1,623 2.5x 1,600 1,357 1,400 2.2x 2.0x 1,200 1.9x 1.9x 1,000 1.5x 800 1.4x 1.0x 600 400 0.5x 200 0 - Q3.2011 Q3.2012 Q3.2013 Q3.2014 49
12 Months Consolidated Sales (Non GAAP; NIS mm) 8,000 8,143 8,182 7,699 7,000 6,855 6,373 6,000 5,000 4,000 3,000 2009 2010 2011 2012 2013 50
YTD Non-GAAP Consolidated Sales (NIS mm) 7,000 6,000 6,079 6,069 6,060 5,629 5,000 4,000 3,000 2,000 1,000 0 YTD'11 YTD'12 YTD'13 YTD'14 51
Strauss Group YTD Non-GAAP Sales excluding FX (Based on 2010 rates; NIS mm) 5.1% 5.1% 6,825 9.4% 6,495 6,181 11.9% 5,649 5,047 YTD'10 YTD'11 YTD'12 YTD'13 YTD'14 52
Q3 Non-GAAP Consolidated Sales (NIS mm) 2,500 2,000 2,138 2,078 2,040 2,015 1,500 1,000 500 - Q3'11 Q3'12 Q3'13 Q3'14 53
12 Months Consolidated Gross Profit and Gross Margins (Non GAAP Adjusted; NIS mm) 3,500 45.0% 38.2% 40.0% 37.8% 37.2% 3,000 35.1% 35.1% 35.0% 3,114 2,500 2,871 30.0% 2,705 2,588 2,000 25.0% 2,371 20.0% 1,500 15.0% 1,000 10.0% 500 5.0% - 0.0% 2009 2010 2011 2012 2013 54
Non-GAAP Adjusted YTD Consolidated Gross Profit and Gross Margins (NIS mm) 2,400 80.0% 2,369 2,316 2,200 70.0% 60.0% 2,133 2,000 2,017 50.0% 39.1% 1,800 38.2% 35.8% 40.0% 35.1% 30.0% 1,600 20.0% 1,400 10.0% 1,200 0.0% YTD'11 YTD'12 YTD'13 YTD'14 55
YTD Non-GAAP Adjusted Gross Profit and Gross Margins (YTD’ 13 to YTD’ 14; NIS mm) Total: 2,369 Total: 2,316 (2) 18 37 Intl. D&S and Other Intl. D&S and Other 453 416 Strauss Israel Strauss Israel 922 904 Strauss Coffee Strauss Coffee 996 994 Overall Gross Profit YTD'13 Intl. D&S and Other Strauss Israel Strauss Coffee Overall Gross Profit YTD'14 3C (JV in 3C (JV in Brazil) (1) Brazil) (1) YTD’ 13 YTD’ 14 47.3% 46.4% GM: 29.0% GM: 30.9% 40.3% 40.1% 39.1% 38.2% 35.6% 33.9% Overall Gross Margins Strauss Coffee GM Strauss Israel GM INTL D&S and Other GM YTD'13 YTD'14 56 (1) Source: Três Corações Alimentos S.A Consolidated Interim Financial Statements as at September 30 th , in BRL.
Non-GAAP Adjusted Q3 Consolidated Gross Profit and Gross Margins (NIS mm) 90.0% 800 811 80.0% 798 700 737 70.0% 688 600 60.0% 500 50.0% 39.1% 37.9% 400 40.0% 35.5% 34.2% 300 30.0% 200 20.0% 100 10.0% - 0.0% Q3'11 Q3'12 Q3'13 Q3'14 57
Q3 Non-GAAP Adjusted Gross Profit and Gross Margins Higher green coffee prices, Higher commodity prices: raw milk price (reversed in Q4 ’ 14), negative impact of the RUB and (Q3 ’ 13 to Q3 ’ 14; NIS mm) cocoa and sesame UHA devaluation vs. the USD on CIS COGS Total: 798 Total: 811 (4) 11 6 Intl. D&S and Other Intl. D&S and Other 158 147 Strauss Israel Strauss Israel 309 313 809 811 798 Strauss Coffee Strauss Coffee 338 344 Overall Gross Profit Q3'13 Intl. D&S and Other Strauss Coffee Strauss Israel Overall Gross Profit Q3'14 YTD GP: 39.1% vs. 38.2% in 3C (JV in Brazil) (1) 3C (JV in Brazil) (1) YTD’ 13 Q3 ’ 13 Q3 ’ 14 GM: 30.3% GM: 29.8% 46.7% 47.4% 40.6% 39.1% 39.3% 37.9% 35.4% 33.8% Overall Gross Margins Q3 Strauss Coffee GM Strauss Israel GM INTL D&S and Other GM Q3'13 Q3'14 Note: Figures were rounded off to NIS millions. Totals were calculated on the basis of the exact figures in NIS thousands. 58 Source: Três Corações Alimentos S.A Consolidated Interim Financial Statements as at September 30th , in BRL . (1)
12 Months Consolidated EBITDA and EBITDA margins (Non GAAP Adjusted; NIS mm) 1,000 20.0% 993 900 18.0% 853 800 16.0% 817 791 767 700 14.0% 12.2% 12.0% 11.9% 600 12.0% 10.4% 10.3% 500 10.0% 400 8.0% 300 6.0% 2009 2010 2011 2012 2013 59 *figures are rounded to M’ ILS
YTD Consolidated Non-GAAP Adjusted EBITDA and EBITDA Margins (NIS mm) 900 20.0% 800 18.0% 778 765 700 16.0% 600 637 14.0% 583 500 12.8% 12.6% 400 12.0% 10.5% 10.4% 300 10.0% 200 8.0% 100 - 6.0% YTD'11 YTD'12 YTD'13 YTD'14 60
Q3 Consolidated Non-GAAP Adjusted EBITDA and EBITDA Margins (NIS mm) 300 20.0% 18.0% 280 250 269 16.0% 14.0% 232 200 12.0% 13.2% 13.1% 196 150 11.2% 10.0% 9.7% 8.0% 100 6.0% 4.0% 50 2.0% - 0.0% Q3'11 Q3'12 Q3'13 Q3'14 61
12 Months Consolidated EBIT and EBIT margins (Non GAAP Adjusted; NIS mm) 800 20.0% 769 18.0% 700 16.0% 625 14.0% 601 600 570 572 12.0% 500 10.0% 9.4% 8.9% 8.0% 8.8% 7.6% 400 7.4% 6.0% 4.0% 300 2.0% 200 0.0% 2009 2010 2011 2012 2013 62
YTD Consolidated Non-GAAP Adjusted EBIT and EBIT Margins (NIS mm) 700 20.0% 18.0% 600 611 16.0% 603 500 14.0% 12.0% 468 400 10.1% 10.0% 418 10.0% 300 8.0% 7.7% 7.4% 6.0% 200 4.0% 100 2.0% - 0.0% YTD'11 YTD'12 YTD'13 YTD'14 63
YTD Non-GAAP Adjusted EBIT and EBIT margins, by Segment (NIS mm; %) 2014 EBIT and EBIT Margins, by Segment 670 14.0% 603 570 12.0% 470 10.0% 10.0% 370 8.0% 292 Of which Sabra: 251 270 72mm (15.6%) 6.0% 10.4% 170 4.0% 11.0% 57 70 3 2.0% 11.7% 0.7% -30 0.0% Overall Group Strauss Coffee Strauss Israel Dips & Spreads Other YTD 2013 2013 EBIT and EBIT Margins, by Segment 700 20.0% 611 600 15.0% 500 10.1% 400 10.0% 318 Of which Sabra: 300 248 59mm (13.9%) 5.0% 200 10.8% 11.0% 100 -1 46 0.0% -0.1% 10.2% - -100 -5.0% Overall Group Strauss Coffee Strauss Israel Dips & Spreads Other * D&S figures reflect Strauss 50% share in Sabra and Obela. Coffee figures include Strauss 50% share in 3C (JV in Brazil). Figures for Strauss Israel include Strauss 64 50% share in the salty snacks business. Other includes Strauss share in Strauss Water UK and China.
Q3 Consolidated Non-GAAP Adjusted EBIT and EBIT Margins (NIS mm) EBIT margin up 20 bps, in spite of 120 bps decline in gross margins, due to lower S&M and G&A costs as a percent of sales (down 100 bps and 40 bps, respectively) 30.0% 227 200 212 25.0% 175 20.0% 150 139 15.0% 100 10.6% 10.4% 10.0% 8.4% 6.9% 50 5.0% - 0.0% Q3'11 Q3'12 Q3'13 Q3'14 65
Non-GAAP Adjusted EBIT and EBIT margins, by Segment (NIS mm; %) Q3 2014 EBIT and EBIT Margins, by Segment 250 16.0% 227 14.0% 200 12.0% 10.6% 10.0% Of which Sabra: 150 30mm (18.8%) 113 8.0% 100 85 6.0% 4.0% 11.0% 50 10.8% 25 2.0% 4 14.9% 2.4% - 0.0% Overall Group Strauss Coffee Strauss Israel Dips & Spreads Other Q3 2013 EBIT and EBIT Margins, by Segment 250 16.0% 212 14.0% 200 12.0% 10.0% 10.4% 150 8.0% 108 Of which Sabra: 86 100 6.0% 26mm (16.9%) 4.0% 11.3% 50 22 2.0% 11.2% -4 13.6% 0.0% -2.1% - -2.0% Overall Group Strauss Coffee Strauss Israel Dips & Spreads Other -50 -4.0% * D&S figures reflect Strauss 50% share in Sabra and Obela. Coffee figures include Strauss 50% share in 3C (JV in Brazil). Figures for Strauss Israel include Strauss 66 50% share in the salty snacks business. Other includes Strauss share in Strauss Water UK and China.
12 Months Net Profit, NP margins and EPS (Non GAAP Adjusted; NIS mm) 3.09 2.55 2.43 2.23 2.22 350 6.0% 329 5.5% 300 5.0% 268 258 4.5% 250 238 237 4.2% 4.0% 4.0% 200 3.8% 3.5% 3.0% 3.1% 150 2.9% 2.5% 100 2.0% 2009 2010 2011 2012 2013 67
YTD Non-GAAP Adjusted Net Profit, NP Margins and EPS (NIS mm) 2.69 2.43 1.59 1.59 EPS 350 6.0% 5.5% 300 287 259 4.7% 5.0% 250 4.3% 4.5% 200 170 170 4.0% 150 3.5% 100 3.0% 3.0% 50 2.8% 2.5% - 2.0% YTD'11 YTD'12 YTD'13 YTD'14 68
YTD Non-GAAP Adjusted Net Profit Bridge (YTD’ 13 to YTD’ 14; NIS mm) • Lower effective tax rate (28.9% in YTD’ 14 vs. 32.1 % in YTD’ 13) • Strengthening of the USD vs. all hedged due to profit mix partially offset currencies by higher tax rate in Israel • CPI increase of 2.0 % in YTD’ 13 vs. 0.1% in (26.5% vs. 25%) YTD’ 14 in addition to decrease in the balance of YTD’ 14 EPS: 300 CPI loans in 2014. (6) 2.69 290 10 280 YTD’ 13 EPS: 270 2.43 32 (8) 260 250 287 287 240 4.7% 230 259 259 4.3% 220 210 200 YTD'13 Net Profit Negative EBIT Decrease in Decrease in taxes Increase in Minority YTD'14 Net Profit growth financing expenses, Interest net 69 Note: Figures were rounded off to NIS millions. Totals were calculated on the basis of the exact figures in NIS thousands.
Q3 Non-GAAP Adjusted Net Profit, NP Margins and EPS (NIS mm) 1.12 0.76 0.65 0.57 EPS 140 14.0% 119 120 12.0% 100 10.0% 81 80 69 8.0% 61 5.6% 60 6.0% 4.0% 40 3.3% 4.0% 3.0% 20 2.0% - 0.0% Q3'11 Q3'12 Q3'13 Q3'14 70
Q3 Non-GAAP Adjusted Net Profit Bridge (Q3 ’ 13 to Q3 ’ 14; NIS mm) • Lower effective tax rate (25.7% in Q3 ’ 14 vs.34.8% in Q3 ’ 13) due to profit mix partially offset by higher tax Q3 ’ 14 EPS: rate in Israel (26.5% vs. 25%) 1.12 140 6 (9) ) 120 Q3 ’ 13 EPS: 26 0.76 100 15 80 60 119 119 • Revaluation of the USD vs. all hedged currencies 5.6% during Q3 ’ 14 (mainly the RUB and the NIS) 40 81 81 compared to devaluation of the USD during Q3 ’ 13 • CPI increase of 1.3% in Q3 ’ 13 vs. 0.3% in Q3 ’ 14 4.0% in addition to decrease in the balance of CPI 20 loans in 2014. - Q3'13 Net Profit EBIT growth Decrease in Decrease in taxes Increase in Minority Q3'14 Net Profit financing expenses, Interest net Note: Figures were rounded off to NIS millions. Totals were calculated on the basis of the exact figures in NIS thousands. 71
Appendix II: STRAUSS ISRAEL 72
12 Months Strauss Israel Sales (NIS mm) 3,100 3,000 3,000 2,900 2,901 2,800 2,840 2,700 2,683 2,600 2,624 2,500 2009 2010 2011 2012 2013 73
Non-GAAP YTD Strauss Israel Sales (NIS mm) 2,500 2,289 2,254 2,161 2,198 2,000 1,500 1,000 500 - YTD'11 YTD'12 YTD'13 YTD'14 74
Non-GAAP Q3 Strauss Israel Sales (NIS mm) 900 800 786 771 750 700 743 600 500 400 300 200 100 - Q3'11 Q3'12 Q3'13 Q3'14 75
12 Months Strauss Israel EBIT and EBIT margins (Non GAAP Adjusted ; NIS mm) 350 20.0% 18.0% 300 315 16.0% 305 302 297 288 250 14.0% 11.4% 12.0% 11.0% 10.6% 200 10.5% 10.2% 10.0% 150 8.0% 6.0% 100 4.0% 50 2.0% - 0.0% 2009 2010 2011 2012 2013 76
YTD Strauss Israel Non-GAAP Adjusted EBIT and EBIT Margins (NIS mm) 300 20.0% 18.0% 250 16.0% 251 248 238 14.0% 231 200 11.0% 12.0% 11.0% 11.0% 10.5% 150 10.0% 8.0% 100 6.0% 4.0% 50 2.0% - 0.0% YTD'11 YTD'12 YTD'13 YTD'14 77
Q3 Strauss Israel Non-GAAP Adjusted EBIT and EBIT Margins (NIS mm) 100 20.0% 90 18.0% 80 16.0% 86 85 80 70 14.0% 76 11.2% 60 12.0% 10.8% 10.7% 10.3% 50 10.0% 40 8.0% 30 6.0% 20 4.0% 10 2.0% - 0.0% Q3'11 Q3'12 Q3'13 Q3'14 78
Strauss Israel Financial Highlights 12 Months (Non GAAP Adjusted; NIS mm) Strauss Israel (Non GAAP) FY'13 FY'12 % Chg. Q4'13 Q4'12 % Chg. Revenue: H&W 1,987 1,920 3.5% 499 467 6.9% F&I 1,013 981 3.2% 247 236 4.4% Total Revenue 3,000 2,901 3.4% 746 703 6.0% Total Gross Profit 1,211 1,135 6.7% 307 271 13.0% Gross Margins 40.4% 39.1% 1.2% 41.2% 38.6% 2.5% EBIT: H&W 200 187 7.1% 51 45 14.1% Margins 10.1% 9.7% 0.3% 10.2% 9.6% 0.6% F&I 115 110 4.5% 16 21 (23.0%) Margins 11.4% 11.2% 0.1% 6.6% 8.9% (2.3%) Total EBIT 315 297 6.2% 67 66 2.2% Margins 10.5% 10.2% 0.3% 9.0% 9.4% (0.3%) EBITDA: H&W 250 235 6.4% 64 51 26.0% Margins 12.6% 12.2% 0.3% 12.8% 10.9% 1.9% F&I 143 137 4.5% 24 28 (15.9%) Margins 14.1% 14.0% 0.2% 9.6% 11.9% (2.3%) Total EBITDA 393 372 5.7% 88 79 11.1% Margins 13.1% 12.8% 0.3% 11.7% 11.2% 0.5% 79
Strauss Israel Non-GAAP Adjusted Financial Highlights Q3 and YTD (NIS mm) Strauss Israel (Non GAAP) YTD'14 YTD'13 % Chg. Q3'14 Q3'13 % Chg. Revenue: H&W 1,509 1,488 1.4% 530 530 (0.0%) F&I 780 766 1.8% 256 241 6.0% Total Revenue 2,289 2,254 1.6% 786 771 1.9% Total Gross Profit 922 904 2.0% 309 313 (1.4%) Gross Margins 40.3% 40.1% 0.2% 39.3% 40.6% (1.3%) EBIT: H&W 159 149 6.6% 59 63 (5.4%) Margins 10.5% 10.0% 0.5% 11.3% 11.9% (0.6%) F&I 92 99 (7.2%) 26 23 9.2% Margins 11.8% 12.9% (1.1%) 10.0% 9.7% 0.3% Total EBIT 251 248 1.1% 85 86 (1.5%) Margins 11.0% 11.0% (0.0%) 10.8% 11.2% (0.4%) EBITDA: H&W 196 186 5.0% 73 75 (4.6%) Margins 13.0% 12.5% 0.4% 13.6% 14.3% (0.7%) F&I 112 119 (6.3%) 32 30 7.5% Margins 14.4% 15.6% (1.2%) 12.7% 12.5% 0.2% Total EBITDA 308 305 0.6% 105 105 (1.2%) Margins 13.4% 13.6% (0.1%) 13.3% 13.7% (0.4%) 80
Appendix III: STRAUSS COFFEE Israel (3C) Brazil Romania Poland (3C) Brazil Russia Serbia Russia 81 3C: a 50%/50% JV with a local Sao Miguel group .
12 Months Strauss Coffee Sales • Growth excluding FX: 2.7% (Non GAAP Adjusted; NIS mm) • Growth excluding green coffee export and FX: 4.1% (export sales decline by 93 M’ NIS) 4,500 4,000 4,206 3,944 3,926 3,500 3,349 3,386 3,000 2,500 2,000 1,500 1,000 500 - 2009 2010 2011 2012 2013 Strauss Coffee non GAAP figures represent 50% share in 3C (Brazil). 82
YTD Strauss Coffee Non-GAAP Sales (NIS mm) • Growth excluding FX: 4.0% • Growth excluding green coffee export 3,500 and FX 3.9% 3,000 3,081 2,935 2,777 2,793 2,500 2,000 1,500 1,000 500 - YTD'11 YTD'12 YTD'13 YTD'14 Strauss Coffee Non-GAAP figures represent 50% share in 3C (JV in Brazil). 83
Q3 Strauss Coffee Non-GAAP Sales (NIS mm) • Growth excluding FX: 11.2% • Growth excluding green coffee export and FX: 11.0% 1,200 1,000 1,049 1,022 1,019 954 800 600 400 200 - Q3'11 Q3'12 Q3'13 Q3'14 Strauss Coffee Non-GAAP figures represent 50% share in 3C (JV in Brazil). 84
12 Months Strauss Coffee EBIT and EBIT margins (Non GAAP Adjusted; NIS mm) 450 20.0% 18.0% 400 16.0% 403 14.0% 350 12.0% 10.2% 10.0% 8.1% 7.6% 300 8.0% 312 6.6% 7.4% 6.0% 250 4.0% 270 260 257 2.0% 200 0.0% 2009 2010 2011 2012 2013 Strauss Coffee non GAAP figures represent 50% share in 3C (Brazil). 85 85
YTD Strauss Coffee Non-GAAP Adjusted EBIT and EBIT Margins (NIS mm) 350 25.0% 300 318 20.0% 292 250 15.0% 200 221 150 178 10.0% 10.8% 10.4% 100 7.2% 5.0% 6.4% 50 - 0.0% YTD'11 YTD'12 YTD'13 YTD'14 Strauss Coffee Non-GAAP figures represent 50% share in 3C (JV in Brazil). 86
Q3 Strauss Coffee Non-GAAP Adjusted EBIT and EBIT Margins (NIS mm) 120 20.0% 18.0% 113 100 108 16.0% 14.0% 80 86 12.0% 11.3% 60 11.0% 10.0% 59 8.0% 8.3% 40 6.0% 5.8% 4.0% 20 2.0% - 0.0% Q3'11 Q3'12 Q3'13 Q3'14 Strauss Coffee Non-GAAP figures represent 50% share in 3C (JV in Brazil). 87
Strauss Coffee Financial Highlights 12 Months 2013 (Non GAAP Adjusted; NIS mm) Strauss Coffee (Non GAAP) FY'13 FY'12 % Chg. Q4'13 Q4'12 % Chg. Revenue: Israel 715 708 0.9% 185 170 8.4% International 3,229 3,498 (7.7%) 824 955 (13.6%) Total Revenue 3,944 4,206 (6.2%) 1,009 1,125 (10.3%) Total Gross Profit 1,341 1,218 10.1% 345 338 1.9% Gross Margins 34.0% 29.0% 5.0% 34.2% 30.1% 4.1% EBIT: Israel 80 77 2.7% 4 13 (71.8%) Margins 11.1% 10.9% 0.2% 2.0% 7.8% (5.8%) International 323 235 37.9% 81 78 5.6% Margins 10.0% 6.7% 3.3% 10.0% 8.1% 1.8% Total EBIT 403 312 29.2% 85 91 (5.7%) Margins 10.2% 7.4% 2.8% 8.5% 8.1% 0.4% EBITDA: Israel 91 89 1.8% 6 15 (56.4%) Margins 12.7% 12.6% 0.1% 3.6% 8.9% (5.3%) International 385 300 28.3% 97 95 1.6% Margins 11.9% 8.6% 3.3% 11.8% 10.0% 1.8% Total EBITDA 476 389 22.2% 103 110 (6.4%) Margins 12.1% 9.3% 2.8% 10.3% 9.8% 0.4% Strauss Coffee non GAAP figures represent 50% share in 3C (Brazil). 88
Strauss Coffee Non-GAAP Adjusted Financial Highlights Q3 and YTD (NIS mm) Strauss Coffee (Non GAAP) YTD'14 YTD'13 % Chg. Q3'14 Q3'13 % Chg. Revenue: Israel 521 530 (1.8%) 165 168 (2.0%) International 2,272 2,405 (5.5%) 854 786 8.6% Total Revenue 2,793 2,935 (4.9%) 1,019 954 6.7% Total Gross Profit 994 996 (0.2%) 344 338 1.9% Gross Margins 35.6% 33.9% 1.7% 33.8% 35.4% (1.6%) EBIT: Israel 81 76 6.8% 27 22 27.0% Margins 15.6% 14.3% 1.3% 16.8% 12.9% 3.8% International 211 242 (12.8%) 86 86 (1.4%) Margins 9.3% 10.0% (0.8%) 9.9% 10.9% (1.0%) Total EBIT 292 318 (8.1%) 113 108 4.4% Margins 10.4% 10.8% (0.4%) 11.0% 11.3% (0.2%) EBITDA: Israel 88 85 3.7% 30 25 19.9% Margins 16.8% 15.9% 0.9% 17.9% 14.7% 3.3% International 255 288 (11.4%) 99 101 (1.3%) Margins 11.2% 12.0% (0.7%) 11.7% 12.8% (1.2%) Total EBITDA 343 373 (7.9%) 129 126 2.8% Margins 12.3% 12.7% (0.4%) 12.7% 13.2% (0.5%) Strauss Coffee Non-GAAP figures represent 50% share in 3C (JV in Brazil). 89
Strauss Coffee Sales by Geography 12 Months 2013 (Non GAAP Adjusted; NIS mm) Strauss Coffee Sales % Change % Change FY'13 FY'12 NIS Local Currency Q4'13 Q4'12 NIS Local Currency Israel 715 708 0.9% 0.9% 185 170 8.4% 8.4% International: 3C (Brazil) - 50% 1,697 1,778 (4.5%) 12.2% 407 482 (15.6%) 1.4% CIS 733 844 (13.7%) (4.7%) 221 236 (7.3%) 6.2% Poland 368 407 (9.6%) (6.2%) 88 107 (17.4%) (12.7%) Romania 226 257 (12.1%) (10.0%) 56 68 (17.5%) (15.8%) Serbia 205 212 (3.3%) (0.1%) 52 62 (15.8%) (11.3%) Total International 3,229 3,498 (7.7%) 3.2% 824 955 (13.6%) (1.3%) Total Coffee 3,944 4,206 (6.2%) 2.7% 1,009 1,125 (10.3%) 0.3% Strauss Coffee non GAAP figures represent 50% share in 3C (Brazil). 90
Strauss Coffee Non-GAAP Sales by Geography Q3 and YTD (NIS mm) Strauss Coffee Sales % Change % Change YTD'14 YTD'13 NIS Local Currency Q3'14 Q3'13 NIS Local Currency Israel 521 530 (1.8%) (1.8%) 165 168 (2.0%) (2.0%) International: 3C (Brazil) 1,316 1,290 2.0% 14.7% 494 416 18.9% 20.2% CIS 448 512 (12.3%) 7.3% 177 172 2.3% 25.0% Poland 213 280 (24.0%) (23.4%) 78 92 (15.4%) (15.2%) Serbia 127 153 (16.6%) (12.5%) 44 50 (10.5%) (5.8%) Romania 168 170 (1.0%) 1.1% 61 56 9.0% 10.4% Total International 2,272 2,405 (5.5%) 5.4% 854 786 8.6% 13.9% Total Coffee 2,793 2,935 (4.9%) 4.0% 1,019 954 6.7% 11.2% Note: Figures were rounded off to NIS millions. Totals were calculated on the basis of the exact figures in NIS thousands. 91 Strauss Coffee Non-GAAP figures represent 50% share in 3C (JV in Brazil) .
Appendix IV: SABRA & OBELA 92
12 Months Sabra Sales (Non GAAP; for 100%; NIS mm) Organic growth excluding FX: 20% 1,200 1,100 1,131 1,000 1,007 900 800 776 700 600 593 500 400 430 300 2009 2010 2011 2012 2013 93
YTD Sabra Sales (Non-GAAP; for 100%; NIS mm) • Organic growth excluding FX: 13.0% 1,000 900 931 800 857 700 751 600 576 500 400 300 200 100 - YTD'11 YTD'12 YTD'13 YTD'14 94
Q3 Sabra Sales (Non-GAAP; for 100%; NIS mm) • Organic growth excluding FX: 8.3% 350 300 323 303 273 250 200 203 150 100 50 - Q3'11 Q3'12 Q3'13 Q3'14 95
12 Months Sabra EBIT (100%) and EBIT margins (Non GAAP Adjusted ; for 100%; NIS mm) 160 20.0% 147 18.0% 140 17.0% 129 16.0% 120 14.0% 13.0% 100 12.0% 12.8% 10.4% 72 80 10.0% 73 62 9.3% 8.0% 60 6.0% 40 4.0% 20 2.0% - 0.0% 2009 2010 2011 2012 2013 96
YTD Sabra EBIT and EBIT Margins (Non-GAAP Adjusted; for 100%; NIS mm) 160 20.0% 18.0% 140 145 16.0% 120 13.1% 15.6% 14.0% 119 100 13.9% 12.0% 98 80 10.0% 8.0% 60 8.4% 6.0% 40 48 4.0% 20 2.0% - 0.0% YTD'11 YTD'12 YTD'13 YTD'14 97
Q3 Sabra EBIT and EBIT Margins (Non-GAAP adjusted; for 100%; NIS mm) 70 20.0% 18.8% 18.0% 17.1% 16.9% 60 61 16.0% 50 14.0% 51 12.0% 47 40 9.3% 10.0% 30 8.0% 6.0% 20 4.0% 19 10 2.0% - 0.0% Q3'11 Q3'12 Q3'13 Q3'14 98
Strauss D&S Financial Highlights Q4 and 12 Months (Non GAAP Adjusted ; for 50%; NIS mm) Dips & Spreads (Non GAAP) FY'13 FY'12 % Chg. Q4'13 Q4'12 % Chg. Revenue: Sabra (50%) 565 503 12.3% 137 128 7.2% Obela (50%) 34 19 82.6% 11 11 (3.9%) Total Revenue 600 522 14.9% 148 139 6.3% EBIT: Sabra (50%) 74 64 14.4% 14 15 (7.3%) Margins 13.0% 12.8% 0.2% 10.4% 12.0% (1.6%) Obela (50%) (17) (21) NM (3) (7) NM Margins NM NM NM NM NM NM Total EBIT 57 44 30.2% 11 9 24.2% Margins 9.5% 8.4% 1.1% 7.4% 6.3% 1.1% EBITDA: Sabra (50%) 91 84 (12.5%) 18 20 9.1% Margins 13.1% 16.0% (2.9%) 16.2% 16.6% (0.5%) Obela (50%) (16) (21) NM (3) (7) NM Margins NM NM NM NM NM NM Total EBITDA 76 64 19.0% 15 14 4.6% Margins 12.7% 12.3% 0.4% 10.3% 10.5% (0.2%) • Figures were rounded off to NIS millions. Totals were calculated on the basis of the exact figures in NIS thousands. 99
Strauss D&S Non-GAAP Adjusted Financial Highlights Q3 and YTD (NIS mm); 50% share Dips & Spreads (Non GAAP) YTD'14 YTD'13 % Chg. Q3'14 Q3'13 % Chg. Revenue: Sabra (50%) 466 428 8.7% 161 152 6.4% Obela (50%) 25 23 7.1% 9 7 25.8% Total Revenue 491 452 8.6% 171 159 7.3% EBIT: Sabra (50%) 72 59 21.8% 30 26 18.6% Margins 15.6% 13.9% 1.7% 18.8% 16.9% 1.9% Obela (50%) (15) (13) 12.2% (5) (4) 25.0% Margins NM NM NM NM NM NM Total EBIT 57 46 24.6% 25 22 17.5% Margins 11.7% 10.2% 1.5% 14.9% 13.6% 1.3% EBITDA: Sabra (50%) 83 74 13.1% 33 31 7.1% Margins 17.9% 17.2% 0.7% 20.4% 20.3% 0.1% Obela (50%) (14) (13) (11.4%) (5) (4) (27.6%) Margins NM NM NM NM NM NM Total EBITDA 69 61 13.7% 28 27 5.8% Margins 14.2% 13.5% 0.6% 16.7% 16.9% (0.2%) • Figures were rounded off to NIS millions. Totals were calculated on the basis of the exact figures in NIS thousands. 100
Recommend
More recommend
