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8
International
Larry McWilliamsPresident International
9
• An Operating Division of Campbell’s … critically linked with the Company’s overall strategies
• Manufacturer and marketer of Simple Meals, led by Soup, Baked Snacks and vegetable based beverages
– Asia Pacific
– Europe
– Latin America
– Emerging Markets
• $1.7 Billion in annual Sales
• 6,700 employees
International Division
10
International Portfolio
Net Sales $1.7BCategories
Biscuits 41%
Wet Soup32%
Dry Soup7%
Sauces6%
Other 10%
Beverages 4%
11
4 Operating Regions (% Sales)
• Asia Pacific 53%
• Europe 38%
• Latin America 7%
• Emerging Markets 2%
• Asia Pacific 53%
• Europe 38%
• Latin America 7%
• Emerging Markets 2%
12
Asia Pacific
Australia 79%New Zealand 8%Indonesia 5%Malaysia 5%Japan 3%
% SalesMarkets
Biscuits 78%Soup 15%Beverage 2%Sauce 4%Other 1%
% SalesCategories
13
In Australia, We Have a Strong Soup Business Under the Campbell’s Brand
Campbell’s 58%Next Leading Competitor 33%
Share(1)
(1) Latest 52 weeks value share
14
Arnott’s Biscuits
• Largest selling food brand in the grocery store
• Household penetration of almost 100%
• Growing business in Asia/Pacific region
(1) Latest 52 weeks value share
Arnotts 60%Next Leading Competitor 6%
Share(1)
15
Europe
Germany 32%France 29%Belgium 25%Nordic 11%Netherlands 3%
100%
% SalesMarkets
Wet Soup 55%Dry Soup 19%Sauce & Beverage 10%Other 16%
% SalesCategories
16
We are Building Sustainable Growth in Europe
• Business focused on Western Europe (Germany, France, Belgium, Sweden, and Netherlands)
• #1 brands in wet and instant dry soup categories
• Focusing on building sustainable growth by– Leveraging brand strengths– Continuous innovation
program– Identifying new distribution
channels and occasions
17
Europe Brands
France Germany
Nordic
Liebig 48.4Next Leading Competitor 33.4
Royco Instant Dry 71.0Next Leading Competitor 16.0
Share(1)
(1) Latest 52 weeks value share; Belgium ambient only
Erasco 47.5Next Leading Competitor 24.4
Heisse Tasse Instant Dry 51.1Next Leading Competitor 26.9
Share(1)Campbell Deli Soup 49.0Next Leading Competitor 38.8
D&L Sauces 40.8Next Leading Competitor 28.4
Royco Instant Dry 87.1Next Leading Competitor 12.0
Share(1)
Belgium
18
Latin America Brands
19
Campbell’s International will Benefit from Macro-Economic Trends Worldwide
• Population growth is the key driver of food consumption
• GDP/capita growth will bring processed food within economic reach of hundreds of millions of people in emerging markets
44%
94%
56%
6%
Growth in GDP Growth inPopulation
Emerging
Developed∼∼∼∼$30 Trillion 1.1 Billion
Source: McKinsey analysis
Share of Forecasted Growth 2003-2023
Emerging
Developed
DevelopedEmerging
20
* China - Soup U&A June 2004* Russia - Soup Eating Habits March 2005
Low Commercialization Rates = A Tremendous Opportunity
Existing Markets% Commercial Soup
New Market Opportunities
80%
70
60
50
40
30
20
10
0
350
300
250
200
150
100
50
0Japan Mexico USA Germany France Canada Australia
4119 14 4 3 2 1
34
15
70
50
33
73 75
China* Russia*
320
32
11
21
External Trends• Existing Soup Behavior
– Existing Markets/New Markets• Participate• Localize
• Health/Wellness– Soup/Broth– Vegetable based Beverages– Baked Snacks
• Rapidly improving conditions in Emerging Markets– Economic growth– Growing middle class– Infrastructure– Population
22
Internal Capabilities
• Strong brands
• Consumer understanding
• R&D capabilities
• Thermal processing expertise
• Vegetable expertise
23
Russia and China
% of Total World Soup Consumption
2009-2011
Russia & China 56%
% of Total World Soup Consumption
6%
24
Russia is Gearing Up for Expansion• Strong product acceptance in Moscow lead market• Established local low-cost production capability• Best in class distribution through Coca-Cola Hellenic partnership• National expansion to begin in August ’09
– From 3 SKU’s in 1,500 stores – 1 city – F’09– To 14 SKU’s in 32,000 stores – 100 cities – F’10
25
Coca-Cola Hellenic OverviewOverview
• Largest bottler in Europe• 2nd largest Coca-Cola bottler in world• Operates in 28 countries 16 of which are part
of the European Union• Access to 550 million consumers• $10B in sales
Soup Potential in Current Coca-Cola Hellenic Geographies
• Geography covers 11% of world population• Approximately 75B Soup servings annually• Russia and Ukraine are key consumption markets
26
China Portfolio Development
• Successful Broth launch in Guangdong and Shanghai
• Local supply through co-packer
• Best in Class Distribution through Swire Beverage partnership
• Portfolio expansion work underway – F’10
– Build scale
– Broaden occasions
– Launch new portfolio in existing markets
• Expand into more regions – F’11
27
Latin America
Europe
Asia Pacific
Emerging Markets
Campbell
Everywhere … Everyday