Presentation to Analysts 13 November 2013_file

8/13/2019 Presentation to Analysts 13 November 2013_file

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AGENDA

1. WELCOME AND INTRODUCTION PEARSON GOWERO

2. SIX MONTHS TRADING HIGHLIGHTS& FINANCIALS

MATTS VALELA

3. BUSINESS REVIEW SIX MONTHS TOSEPTMBER 2013

PEARSON GOWERO

4. DISCUSSION/QUESTIONS ALL

5. REFRESHMENTS ALL


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AGENDA

1. TRADING HIGHLIGHTS

2. FINANCIAL STATEMENTS


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VOLUME BY BUSINESS

Declined by 10%LAGER BEER

Grew by 8%SPARKLINGBEVERAGES

Grew by 9%CHIBUKU

Grew by 57%ALTERNATIVE

BEVERAGES(MAHEU)


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GROSS SALES

Down 4% to $164 millionLAGER BEER

Up 8% to $110 millionSPARKLINGBEVERAGES

Up 24% to $76 millionCHIBUKU

Up 59% to $7 millionALTERNATIVE

BEVERAGES(MAHEU)


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FINANCIAL HIGHLIGHTS

REVENUE

Increased by 5% to $315,5 million(Turnover - $367,3m)

OPERATING MARGIN %Up from 21.92% to 23.04%

EBITUp by 10% to $62,6 million


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FINANCIAL HIGHLIGHTS cont

EBITDA

Up by 10% to $77,7 million

ATTRIBUTABLE INCOMEIncreased by 12% to $47,2 million

INTERIM DIVIDENDUp by 14% to $16 million


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EARNINGS PER SHARE

SEPT2013

SEPT2012

%Change

Normal EPS Cents 3,83 3,50 +9%

Fully Diluted EPS - Cents 3,79 3,42 +11%

Dividend per share - Cents 1,30 1,17 +11%


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VOLUME PERFORMANCE SUMMARY

Category Actual Volume000hl

% Growth onPrior Year

1. BEVERAGES (HLS 000)1.1 Clear Beer1.2 Sorghum Beer

1.3 Sparkling Beverages1.4 Maheu (Alt. Beverages)

9251 794

77680

(10)9

857

Total Excluding Associates 3 575 4

2. Plastic Tonnage 4 767 113. Malt Tonnage 16 480 (10)


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STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIODSEPT 2013

US$000sSEPT 2012

US$000s

REVENUE 315 468 299 612

Operating income 62 578 57 058

Net finance Income /(expenses) 1 189 (566)

Share of associates profit 361 657

PROFIT BEFORE TAX 64 128 57 149

Taxation (16 420) (14 508)

TOTAL COMPREHENSIVEINCOME 47 708 42 641


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ANALYSIS OF ATTRIBUTABLE INCOME

2013

US$000s

2012

US$000sProfit for the half yearfrom operations

attributable to:Owners of the parent 47 202 42 018

Non-controlling interests 506 623

47 708 42 641


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ASSETS2013

US$000s2012

US$000s

Non-current assetsProperty, plant and equipment 329 540 288 854

Investments, loans and trademarks 31 239 28 850

TOTAL NON-CURRENT ASSETS 360 779 317 704CURRENT ASSETS

Inventories 86 920 83 502

Trade and other receivables 52 767 46 390Cash and cash equivalents 81 669 58 876

TOTAL CURRENT ASSETS 221 356 188 768

TOTAL ASSETS 582 135 506 472

STATEMENT OF FINANCIAL POSITION

SEPTEMBER


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STATEMENT OF FINANCIAL POSITION

SEPTEMBEREQUITY AND LIABILITIES 2013US$000s2012

US$000sShare Capital 12 311 12 024Share Premium 25 656 20 331Reserves 234 968 261 566Dividend Payable 16 000 14 845Non-controlling Interests 7 287 5 589Shareholders equity 370 222 299 510

Long- term borrowings 60 000 61 137Deferred taxation 33 036 27 208

93 036 88 345

CURRENT LIABILITIESShort term borrowings 15 728 18 627Interest free liabilities 103 149 99 990TOTAL CURRENT LIABILITIES 118 877 118 617

TOTAL EQUITY AND LIABILITES 582 135 506 472

cont


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CASH FLOW

2013US$000s

2012US$000s

Cash flow fromoperations 63 183 54 597

Net cash invested (27 770) (36 432)

Net funding 5 941 (20 888)


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SHARE CAPITAL MOVEMENTS

Shares in Issue as at 31 March2013 1 227 362 815

Share Options Exercised 8 233 800

Shares in Issue at30 September 2013 1 235 596 615


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AGENDA

1. Review of volume performance by productcategory

2. Key Highlights for the first half

3. Focus Areas for the second half

4. Update on Associates


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LAGER BEER HALF YEAR VOLUMEPERFORMANCE F10 TO F14

0

200

400

600

800

1 000

1 200

F10 F11 F12 F13 F14

491

724

945 1 027 925

HLs000

- Affordability affected by RRP rounding up after excise increase.- Held market share.


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SORGHUM BEER HALF YEAR PERFORMANCEF10-F14

300 500

700

900

1 100

1 300

1 500

1 7001 900

F10 F11 F12 F13 F14

1 616 1 549

1 7841 639

1 794

HLs 000

Chibuku Super Driving Growth


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BEVERAGE VOLUME CONTRIBUTION

F13 F14

30%

47%

21%

2%

Lagers Sorghum SBs Maheu

26%

50%

22%

2%

Lagers Sorghum SBs Maheu


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VOLUME CONTRIBUTION BEER CATEGORY

39%61%

Lagers Sorghum

34%

66%

Lagers Sorghum

F13 F14


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KEY HIGHLIGHTS OF THE FIRST HALF

2. Lager Premium contribution holds on declining total volumes

3. Launch of Chibuku Super drives sorghum beer category growth

4. Volume growth in SBs on improved availability and pack innovation

5. Renewal of distribution fleet to optimise on distribution effectiveness

6. Capex spend focused on container and productivity improvements

1. Portfolio Mix allows us to retain consumer spend within the business


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KEY HIGHLIGHTS OF THE SECOND HALFFOCUS AREAS FOR THE SECOND HALF

1. Lobby for excise duty reduction to drive lager beer growth

2. Commission a second plant for Chibuku Super

3. Launch 1,25 lt Chibuku Super to access the US$1 RRPsweet spot

5. Continue expanding portfolio of Alternative Beverages

4. Roll out 350ml PET pack for SBs


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THANK YOU

Documents

Presentation to Analysts 13 November 2013_file