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  • 1

    Muhtar KentPresident & Chief Operating Officer

    February 22, 2008

    Winning Today . . . Winning Tomorrow

    2008

    2

    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, willand similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from The Coca-Cola Companys historical experience and our present expectations or projections. These risks include, but are not limited to, obesity concerns; scarcity and quality of water; changes in the nonalcoholic beverages business environment, including changes in consumer preferences based on health and nutrition considerations and obesity concerns; shifting consumer tastes and needs, changes in lifestyles and increased consumer information; increased competition; our ability to expand our operations in emerging markets; foreign currency and interest rate fluctuations; our ability to maintain good relationships with our bottling partners; the financial condition of our bottlers; our ability to maintain good labor relations, including our ability to renew collective bargaining agreements on satisfactory terms and avoid strikes or work stoppages; increase in the cost of energy; increase in cost, disruption of supply or shortage of raw materials; changes in laws and regulations relating to beverage containers and packaging, including mandatory deposit, recycling, eco-tax and/or product stewardship laws or regulations; adoption of significant additional labeling or warning requirements; unfavorable economic and political conditions in international markets, including civil unrest and product boycotts; changes in commercial or market practices and business model within the European Union; litigation uncertainties; adverse weather conditions; our ability to maintain brand image and product quality aswell as other product issues such as product recalls; changes in legal and regulatory environments; changes in accounting standards and taxation requirements; our ability to achieve overall long-term goals; our ability to protect our information systems; additional impairment charges; our ability to successfully manage Company-owned bottling operations; global or regional catastrophic events; and other risks discussed in our Companys filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K, which filings are available from the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Coca-Cola Company undertakes no obligation to publicly update or revise any forward-looking statements.

    Reconciliation To US GAAP Financial InformationThe following presentation includes certain "non-GAAP financial measures" as defined in Regulation G under the Securities Exchange Act of 1934. A schedule is posted on the Company's website at thecoca-colacompany.com (in the "investors" section) which reconciles the non-GAAP financial measures included in the following presentation to the most directly comparable financial measures calculated and presented in accordance with Generally Accepted Accounting Principles.

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    3

    We Have Achieved Significant Results Since We Last Met

    4

    EPS Growth**

    5% 9% 14%

    2005 2006 2007

    Operating Income Growth*

    -4%

    8% 10%

    2005 2006 2007

    Unit Case Volume Growth

    4% 4% 6%

    2005 2006 2007

    We Are Delivering Solid, Consistent Results

    6%9%

    4%

    3%

    8%

    Long-Term Target Range

    * Ongoing, Currency Neutral ** Ongoing

    Unit Case Volume Growth Operating Income Growth* EPS Growth**

    7%

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    5

    Great Britain

    We Are Rapidly Correcting Issue Markets

    Philippines

    Germany

    India

    Japan

    North America

    6

    We Have Expanded Our Beverage Portfolio

    Billion US$ Brands

    2006-2007 Sources of Volume Growth

    2.1 B Incremental Unit Cases

    Still24%

    Sparkling61%

    Acquired15%

    KEY ACQUISITIONS

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    7

    We Have Strengthened Our Competitive Position2007 Worldwide Retail Volume Share % Change vs. Prior Year

    Source: Nielsen, Intage (Japan) and IRI (Italy) YTD November* PepsiCo: RTD Tea includes Unilever.

    ** Nestle: RTD Tea JV with San Pelligrino for Belte in Italy.NARTD = Nonalcoholic, Ready-to-Drink, Excluding Dairy

    CORE SPARKLING +0.7 - 0.2 N/A Flat

    SPORTS DRINKS +1.5 - 1.8 FlatFlat

    JUICE/ JUICE DRINKS - 0.7+0.6 FlatFlat

    BOTTLED WATER +0.1+0.4 - 0.1

    RTD TEA +1.5*

    - 1.6RTD COFFEE N/A

    +1.1ENERGY DRINKS Flat N/A

    TOTAL NARTD +0.4 - 0.2

    - 0.2

    Flat - 0.3

    Flat**

    +0.3

    +0.4

    - 0.1

    +0.1

    Flat

    8

    We Have a Healthier Bottling System

    Return on Invested Capital*

    7.7%

    9.3%

    2005 2007

    Improving Profitability

    +160

    Basis

    Point

    s

    * Includes Coca-Cola Enterprises, Coca-Cola FEMSA, Coca-Cola Hellenic, and Coca-Cola Amatil; representing nearly 40% of KOs 2007 Global Volume

    Unit Case Volume

    20.6

    22.7

    2005 2007

    Solid Volume Growth

    +5%

    CAGR

    +11% C

    AGR

    Reinvesting Long-Term

    Investment*(US $MM Currency Neutral)

    2005 2007Capex DME

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    9

    We Are On Track and Achieving Quality Growth

    % % Growth Growth vs. PYvs. PY

    6%

    4%

    Global Unit CaseVolume Growth Rates

    -1

    0

    1

    2

    3

    4

    5

    6

    7

    1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

    Total Trademark Coke

    1999

    10

    There Is No Better Consumer Business Today or in the Future

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    11

    We Compete in a Vibrant Industry

    5.2%

    5.5%

    5.8%

    6.0%

    6.3%

    Household Care

    Packaged Foods

    Total AlcoholicBeverages

    Cosmetics andToiletries

    NARTD

    Estimated CAGR in Consumer Spend (2007-2010)

    NARTD = Nonalcoholic Ready-to-Drink, Excluding DairySource: EuromonitorData for all sectors covers KO Key 22 Markets

    12

    We Expect Strong Consumption Tailwinds

    Growth in BRIC Middle Class

    Growth in Urbanization

    RTD Conversion Opportunity

    More Consumers With More Money Drinking More

    Sources: Population Division of the Department of Economic and Social Affairs of theUnited Nations Secretariat, World Bank Development Indicators; Internal Estimates

    Developed RTD Markets: Mexico, US; Emerging RTD Markets: China, Russia, TurkeyExcludes Alcoholic Beverages

    2,000

    2,500

    3,000

    3,500

    4,000

    2005 2015

    0

    250

    500

    750

    1,000

    1,250

    2005 2015

    +650MM

    +700

    MM

    Developed Emerging

    Non-RTD BeveragesRTD Commercial Beverages

    2005 20052015 2015 Developed Emerging

    30%

    30%

    70%

    70%

    Approx. 60 B UC

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    13

    We Have a Compelling Profit Opportunity

    * Packaged** Excluding WaterSource: Internal Estimates

    By Geography

    By Category

    Total Industry ProfitsToday

    Emerging20%

    BRICs13%

    Developed67%

    Sparkling

    Still**

    61%

    32%

    Sources of Incremental Industry Profit - Next 3 Years

    Emerging

    BRICs34% Developed

    39%

    27%

    SparklingStill**

    50%41%

    6% Industry Growth

    14

    The Coca-Cola Company is Best Positioned to

    Capture the Opportunity

  • 8

    15Source: Internal Estimates and Public Data

    Operate in More Than 200 Countries. . .

    We Have a Significant Scale Advantage

    300 Franchise Bottlers. . . Top 8 = 47%

    900 Plants . . . 7X P&G

    500,000 Trucks. . . 5X UPS

    $50 Billion Supply Chain

    . . . One of the Largest Consumer Goods Systems in the World

    2006 Global Sales ($B)

    >$80B

    Coca-ColaSystem

    Nestle P&G PepsiCoSystem

    16

    We Have Achieved Unrivaled Commercial Reach

    Source: Internal Data

    Universally Available. . . . . . Uniquely Merchandised . . .

    . . .Enjoyed Daily

    20 Million Outlets20 Million Outlets 1.5 Billion Servings 1.5 Billion Servings Every DayEvery Day10 Million Cold Drink 10 Million Cold Drink

    AssetsAssets

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    17

    We Have an Unmatched Global Footprint

    Source: 2006 Canadean

    #1Juices &

    Juice Drinks

    ##11Juices & Juices &

    Juice DrinksJuice Drinks

    #1Sparkling Beverages

    ##11Sparkling Sparkling BeveragesBeverages

    #1RTD

    Coffee

    ##11RTD RTD

    CoffeeCoffee

    #1RTD Tea

    ##11RTD RTD TeaTea

    #2Sports Drinks

    ##22Sports Sports DrinksDrinks

    #3Packaged

    Water

    ##33Packaged Packaged

    WaterWater

    NARTD Volume Share

    Global

    2.1X

    GlobalGlobalGlobal BRICNorth America International

    3.2X

    1.2X2.7X

    North AmericaNorth AmericaNorth America InternationalInternationalInternational BRICBRICBRIC

    KO Closest Global Competitor Closest BRIC Competitor

    2.8X

    18

    We Have a Disciplined StrategyTo Win

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    Our Priorities for Driving Growth

    Grow Sparkling

    Leadership

    Grow Sparkling

    Leadership

    Leverage Bala