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1. WELCOME AND INTRODUCTION 2. SIX MONTHS TRADING HIGHLIGHTS & FINANCIALS 3. BUSINESS REVIEW SIX MONTHS TO SEPTMBER 2013 4. DISCUSSION/QUESTIONS 5. REFRESHMENTS
PEARSON GOWERO
ALL ALL
AGENDA
1. TRADING HIGHLIGHTS
2. FINANCIAL STATEMENTS
VOLUME BY BUSINESS
LAGER BEER
Declined by 10%
SPARKLING BEVERAGES
Grew by 8%
CHIBUKU
Grew by 9%
Grew by 57%
GROSS SALES
LAGER BEER
SPARKLING BEVERAGES
Up 8% to $110 million
CHIBUKU
Up 59% to $7 million
FINANCIAL HIGHLIGHTS
REVENUE Increased by 5% to $315,5 million (Turnover - $367,3m)
FINANCIAL HIGHLIGHTS
EBITDA
Up by 10% to $77,7 million
cont
ATTRIBUTABLE INCOME
Increased by 12% to $47,2 million
INTERIM DIVIDEND
Up by 14% to $16 million
SEPT 2013 Normal EPS Cents Fully Diluted EPS - Cents Dividend per share - Cents 3,83 3,79 1,30
CASH FLOW
2013 US$000s Cash flow from operations Net cash invested 2012 US$000s
63 183
54 597
(27 770)
(36 432)
Net funding
5 941
(20 888)
8 233 800
AGENDA
1. Review of volume performance by product category 2. Key Highlights for the first half 3. Focus Areas for the second half 4. Update on Associates
1 200 945 1 000 724 800 491 600 400 200 0 F10
-
1 027 925
F11
F12
F13
F14
Affordability affected by RRP rounding up after excise increase. Held market share.
F13
F14
2% 26%
50%
Lagers
Sorghum
SBs
Maheu
Lagers
Sorghum
SBs
Maheu
F13
F14
34%
Lagers
Sorghum
Lagers
Sorghum
5. Renewal of distribution fleet to optimise on distribution effectiveness 6. Capex spend focused on container and productivity improvements
FOCUS AREAS FOR THE HALF KEY HIGHLIGHTS OF THE SECOND 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 RRP sweet spot 4. Roll out 350ml PET pack for SBs
ASSOCIATES
SZL Volumes up on prior year Contribution of Juice Drinks and Water up Some pressure on margins Mazoe Orange Crush price roll back Market share in cordials stable AFDIS Local production of spirit coolers To localise production of ciders Cautionary published Recent update at AGM
THANK YOU