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Investor Relations Overview
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InvestingTogether for a
Better Tomorrow
2013 IR OVERVIEW
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Forward-Looking StatementsThis presentation may contain statements, estimates or projections that constitute forward-looking statements as defined under U.S.federal securities laws. Generally, the words believe, expect, intend, estimate, anticipate, project, will and similarexpressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject tocertain risks and uncertainties that could cause actual results to differ materially from The Coca-Cola Companys historical experienceand our present expectations or projections. These risks include, but are not limited to, obesity and other health concerns; water scarcityand poor quality; changes in the nonalcoholic beverage business environment and retail landscape; increased competition; increased
demand for food products and decreased agricultural productivity as a result of changing weather patterns; consolidation in the retailchannel or the loss of key retail or foodservice customers; an inability to expand operations in developing and emerging markets;fluctuations in foreign currency exchange rates; interest rate increases; an inability to maintain good relationships with our bottlingpartners; a deterioration in our bottling partners' financial condition; increases in income tax rates, changes in income tax laws orunfavorable resolution of tax matters; increased or new indirect taxes in the United States or in other major markets; increased cost,disruption of supply or shortage of energy or fuels; increased cost, disruption of supply or shortage of ingredients, other raw materials orpackaging materials; changes in laws and regulations relating to beverage containers and packaging; significant additional labeling orwarning requirements or limitations on the availability of our products; an inability to protect our information systems against serviceinterruption, misappropriation of data or breaches of security; unfavorable general economic conditions in the United States;unfavorable economic and political conditions in international markets; litigation or legal proceedings; adverse weather conditions;climate change; damage to our brand image and corporate reputation from product safety or quality, human and workplace rights,obesity or other issues, even if unwarranted; changes in, or failure to comply with, the laws and regulations applicable to our products orour business operations; changes in accounting standards; an inability to achieve our overall long-term goals; continuing uncertainty inthe global credit markets; one or more of our counterparty financial institutions default on their obligations to us or fail; an inability torealize additional benefits targeted by our productivity and reinvestment program; an inability to renew collective bargaining agreementson satisfactory terms, or we or our bottling partners experience strikes, work stoppages or labor unrest; future impairment charges,including charges by equity method investees; multi-employer plan withdrawal liabilities in the future; an inability to successfullyintegrate and manage our Company-owned or -controlled bottling operations; global or regional catastrophic events; and other risksdiscussed in our Companys filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10 -K for the
year ended December 31, 2012 and our subsequently filed Quarterly Reports on Form 10-Q, which filings are available from the SEC. Youshould not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Coca-Cola Companyundertakes no obligation to publicly update or revise any forward-looking statements.
Reconciliation to US GAAP Financial Information
The following presentation may include certain "non-GAAP financial measures" as defined in Regulation G under the SecuritiesExchange Act of 1934. A schedule is posted on the Company's website at www.coca-colacompany.com (in the Investors" section) whichreconciles our results as reported under General Accepted Accounting Principles and the non-GAAP financial measures included in thefollowing presentation.
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Our 2020 Vision:On Track and
Delivering Results
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Our 2020 Vision Sets High Expectations
Our
Mission
Our
Vision
Our
Goals
Our System
Priorities
Our
Metrics
Create
value and
make a
difference
Profit More than double
system revenue while
increasing system
margins
Maximize Company
and bottler long-
term cash flow
Economic
profit growth
4
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KO is Leading the High Growth NARTD Industry
5
0%
2%
4%
6%
2010 2011 2012
KO Volume
NARTD Industry Volume*
Personal Consumption
* NARTD excludes milk and bulk water
Leading theIndustry
GainingMarket Share2012 vs 2009
VolumeShare
ValueShare
Global NARTD
Still
Sparkling
YOYIn
crease
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Volume Operating
Income*
EPS*
Delivering Against Our Long-Term Growth Targets
3-Year CAGR2010-2012
10% 10%
5%
*Comparable Currency Neutral
6
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2010 2011 2012
And We are Sharing Our Success With You
Returned to Shareowners2010 - 2012
DividendsNet Share Repurchases
2013 Marks the
Consecutive Year of AnnualDividend Increases
10% Increase in 2013
~$5 Billion in 2013
2013 Net Share RepurchasesBetween $3.0B and $3.5B
7
$4.1B
$5.4B
$1.3B
$4.3B
$7.2B
$2.9B
Billion in Value
$4.6B
$7.7B
$3.1B
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We Are Ideally Positioned
We Are IdeallyPositioned to
Deliver Long-TermProfitable Growth
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The Growth Opportunity is Abundant
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2012 20202012 2020
Million
Middle-Class
Growth
Personal
Consumption Growth
Trillion
2012 2020
NARTD Industry
Retail ValueGrowth*
Billion
*NARTD excludes white milk and bulk water
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Not a One Size Fits All Approach
10
Emerging Markets Maximizing Volume
Investing for
Accelerated Growth
Developing Markets
Maximizing Value Through
Segmentation Building Customer Loyalty
Developed Markets
Driving Profitable GrowthThrough Innovation and
Productivity
NARTD Retail Value Growth$400 Billion (2013-2020)
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We Have the Worlds Strongest System
Brands inCountries
Bottling Partners
OutletsMillion
Global System Employees
Thousand
Top 10 PrivateEmployer
BillionServings Every Day
Approximately
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Company-Owned & More to Come!
The Worlds Greatest Beverage Brands
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We Invest Through a Value Lens to Drive Long-TermProfitable Growth
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3-4%
5-6%
6-8%
Volume Net Revenue OI EPS
*Comparable Currency Neutral
High SingleDigit
Long-Term Growth Targets*Economic Profit Growth
Target10%+ CAGR
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Our Strong Cash Flows Provide Financial Flexibility
14
Cash, Its Still the Real Thing
$9.5B$10.2B
2010 2011 2012
$11.5B
* Excluding pension contributions of $769 million in 2011 and $900 million in 2012
*
*
CASH FROM OPERATIONS
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We Balance Cash Priorities for Sustainable Value Creation
15
Consecutive Years of
Annual DividendIncreases
Increase in 2013
Billion in 2013
CAPEX ~$3
Billion in 2013 Invest Behind
Our Brands
Enabler to AccelerateGrowth andEfficiency ThroughBolt-On Acquisitionsand PartnershipsAcross Our SupplyChain
Net Repurchasesof~$3.0 to 3.5Billion in 2013
1
4
SUSTAINABLEVALUE
CREATION4
1
2
3
2
3
51
10%
~$5
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We Have A
Balanced, GlobalPortfolio
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We are Growing Around the World
North America21% of Total Company Unit Cases24% of Total Company
Operating Income
Latin America
29% of Total CompanyUnit Cases
27% of Total CompanyOperating Income
Pacific1
21% of Total CompanyUnit Cases
23% of Total CompanyOperating Income
+2% FY 2012 Volume Growth
1 Reflects the transfer of the India & South West Asia Business Unit from the Eurasia & Africa Operating Segment to the Pacific Operating Segment
+5% FY 2012 Volume Growth
Europe
14% of Total CompanyUnit Cases
27% of Total CompanyOperating Income
-1% FY 2012 Volume Growth
Eurasia & Africa1
15% of Total CompanyUnit Cases
10% of Total CompanyOperating Income
+10% FY 2012 Volume Growth
+7% FY 2012 Volume GrowthNote: Total Company Operating Income on this page totals >100%, as it does not reflect Corporate expenses.
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New Global Operating Structure
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A Combined Years of System Experience
Ahmet Bozer
EVP & PresidentCoca-Cola International
Steve Cahillane
EVP & PresidentCoca-Cola Americas
Irial Finan
EVP & PresidentBottling Investments
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Coca-Cola International Overview
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350+ Brands~120 Bottling Partners50% of Total Company Volume
Solid Presence
Population of~6.1 Billion37% of Population Under 21
Large, DynamicConsumer Base Europe:Positioned to Capture
Profitable Growth
Pacific: Developed and
Emerging Markets Growing
Together
Eurasia & Africa:Delivering
Results Over the Short andLong Term
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Europe: Future Growth Opportunities Despite Headwinds
20
Industry
~900 Per CapitaConsumption(~3x Global Average)
Largest NARTD RetailValue Pool
Europe Group
176 Per CapitaConsumption(~2x Global Average)
Top 3 SparklingBrands
Opportunity forVolume and ValueShare Gains
2012 2020
Billion
Europes NARTD Industry
Retail Value Growth
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Japan +2%
21
2012 Volume Growth Rates
Philippines+5%
Australia +3%
India
+16% Thailand+22%
China +4%
Developed KO Per Capita
Consumption
GDP Per Capita
Emerging KO Per CapitaConsumption
GDP Per Capita
176
~$35K
31
~$6K
Pacific: A Tale of Two Worlds Growing Together
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2012 2020
NARTD IndustryVolume Growth
2012 2020
NARTD IndustryRetail Value Growth
#2Tea#1 Juice &Juice Drinks
Eurasia & Africa: A Solid Foundation to Capture Growth
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#2 SportsDrinks
#2 Water#1
Sparkling
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Coca-Cola Americas Overview
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225+ Brands
~130 Bottling Partners50% of TotalCompany Volume
Solid Presence
Population of~ 950 Million34% of PopulationUnder 21
Large, DynamicConsumer Base
North America:Best
Brand, Sales & Customer
Service System
Latin America: Drive
Sustainable Growth
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Our Market
Expanding Population
Favorable Demographics
Vibrant NARTD Business
North America: Executing Our Consistent Strategy to Winin this Profitable Market
Our Strategy
Build Strong Brands
Translate Brand Value into CustomerValue
Invest in Capabilities to Sustain & Repeat
2012 Full Year
VolumeShare
Sparkling
Sports Drinks
Teas
Juice/JuiceDrinks
Energy
Still
ValueShare
NARTD
24
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5%3%
5% 6%7%
Latin AmericaGroup
Latin Center Mexico Brazil South Latin
3-Year Volume CAGR
2010-2012
25
* Source: Millward Brown
(Average of Latin America)
** Source: Nielsen
vs Key Competitor*
Volume Growth3-Year CAGR 2010-2012
Share Change**2010-2012
Strong ConsumerEngagement
Recruitment+
+ContinuousInvestment
20x2.1pts
4%
ConsumerRelevance Favorite Brand
GrowingLeadership
Latin America: We are Delivering Sustainableand Balanced Growth
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Bottling Investments Group (BIG) Overview
15 Bottling Companies
18% of Total KO Revenues
#3 Global Bottler
Based on Volume
~60K Employees
Company-Owned Bottlers Management or Oversight Role Recent Bottling Divestitures
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Our Investments Create Long-Term
Sustainable Growth
We Manage these Businesses as if We WillOwn Them Forever
We Strive to Become a Model ofCollaboration with Other Bottlers
We are Committed to Win in Every MarketWhere We Do Business with aStrong Bottling System with theRight Capabilities
BIG Creates Sustainable Businesses
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BIG Invests in Bottlers Under the Following Conditions:
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Strategic Franchise Leadership is Required to
Drive Growth in Critical Markets
Bottlers are Underperforming and Need Helpto Resolve Problems
Ownership and Management ChangesStructural or Philosophical
Venture Capital is Required to MoveQuickly into a Market
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We Will Strategically Sell to the Right Partner, for aFair Price at the Right Time
We Sell Our Investments for a FairValue When . . .
Our Long-Term Interests are Alignedwith the Right Partner
Prospective Partner Has the RightCapabilities
Proven Management Team
Strong Financial Capability and
Willingness to Invest inthe Business
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Creating Value and Making a Difference
Creating Value andMaking a Difference
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Heinz
PlantBottle
PlantBottle
Mini Can
I LOHAS
Minute MaidLight ZICO
Coconut Water
HFC-Free Coolers
innocentNFC Juices &Recyclable
Carafes
1.25Liter
Where Will HappinessStrike Next?
Honest Tea
12.5 ozHandheld
Minute MaidPure Squeezed
Power PlayFruit Kick
South Africa
Growth Through Innovation
Simply FlavorExtensions
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Solar Push Cartwith eKOCool
Core Power
http://www.mycokerewards.com/home.dohttp://www.innocentdrinks.co.uk/things_we_make/apple_juice/http://www.innocentdrinks.co.uk/things_we_make/orange_juice_smooth/http://www.innocentdrinks.co.uk/things_we_make/orange_juice_bits/ -
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Leveraging Global Properties to Connect with Our Consumers
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We are Making a Sustainable Difference
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The Road to 2020: Past Present and Future
On The RoadTo 2020
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Brands in
Countries
Our Journey to 2020
Past Present
Coca-Cola Continues
to be the Worlds
Most Valuable
Brand
Growing WorldsGreatest Beverage
Brand Portfolio
Future
On Our Way to
Doubling System
Revenues by 2020
Continue Creating
Sustainable ValueWhile Making a
Lasting Difference
Added $30+ Billion
to Market
Capitalization
Sparkling Added
12+ BillionIncremental
Transactions
Note: Most Valuable Brand based on Interbrands 2012 Best Global Brands Report
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Developed Developing Emerging
Weve Only Just Begun
Global USA Spain Germany Mexico Brazil Turkey Russia China India
94
401
283
191
745
241
176
7939
14
Avg
34
Avg259
Avg
267
2012 Per CapitaConsumption
Note: Per capita averages are based on our Top 32 markets as determined by volume; one serving equals 8 fluid ounces of finished beverage
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Our Winning Culture
Our Values
On The Market
Smart
Like Owners
The Brand