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1 Muhtar Kent President & Chief Operating Officer February 22, 2008 Winning Today . . . Winning Tomorrow 2008 2 Forward-Looking Statements This 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 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 Company’s 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 as well 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 Company’s 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 Information The 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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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,” “will”and 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 Company’s 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 Company’s 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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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

Points

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

Unit Case Volume

20.6

22.7

2005 2007

Solid Volume Growth

+5% C

AGR

+11% CAGR

Reinvesting → Long-Term

Investment*(US $MM Currency Neutral)

2005 2007Capex DME

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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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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

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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 Day

10 Million Cold Drink 10 Million Cold Drink AssetsAssets

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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 Balanced

Geographic Portfolio

Leverage Balanced

Geographic Portfolio

Rapidly Grow Still Beverages

Rapidly Grow Still Beverages

Accelerate InnovationAccelerate Innovation

Strengthen System

Capability

Strengthen System

Capability

20

Three-Cola Strategy – Driving Coke TM +4%

Source: Volume Share: Internal Data, Value Share: Nielsen/Intage/IRI YTD November Coca-Cola Light includes Diet Coke

Grow Sparkling

Leadership

Grow Sparkling

Leadership•• Highest Global Growth Rate Since 1998Highest Global Growth Rate Since 1998•• Highest Growth in Japan Since 1977Highest Growth in Japan Since 1977•• Driving Both Volume Share +0.4 pts. and Value Share +0.5 pts.Driving Both Volume Share +0.4 pts. and Value Share +0.5 pts.

+3% Globally +9% Globally

Driving Cola Share +3.1 pts.

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Coke Zero - Most Successful Brand Launch in 25 Years2007: ~450 Million Unit Cases

Global Integrated Marketing Campaign

Increased Availability

Grow Sparkling

Leadership

Grow Sparkling

Leadership

Aggressive Recruitment

22

NASCAR screen shot to come

Global CommercialsGrow

Sparkling Leadership

Grow Sparkling

Leadership

Africa

France Global

United States

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Rapidly Grow Still Beverages

Rapidly Grow Still Beverages

• Affordable Formulations• Functional Benefits• Bolt-on Acquisitions• Margin Enhancement

Still Beverage Expansion Driving +12% Growth

EMERGING CATEGORIES COFFEE AND TEA

JUICE

SPORTS DRINKS

WATERS

24

GLACÉAU – Changing the Game“Active Lifestyle - A Category in Itself”

• Deliberate International Expansion

• Launching in Australia Now

• Transform into a Global Icon

• Continued Triple Digit Growth

• Galvanizing the U.S. System

• Rapid U.S. Expansion

Rapidly Grow Still Beverages

Rapidly Grow Still Beverages

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25Source: Internal Data

Achieving Balanced and Sustained Growth

Volume Growth

Rate

Contribution per Unit Case

BRIC Markets: Invest to Win Long-Term

Leverage Balanced

Geographic Portfolio

Leverage Balanced

Geographic Portfolio

Emerging Markets:Realize

Profitable Growth

Developed Markets:Expand

Leadershipand Grow

Value

26

Emerging Markets Are Realizing Profitable Growth

Leverage Balanced

Geographic Portfolio

Leverage Balanced

Geographic Portfolio

4x 4x 6x 9x

30x

53x

Brazil Mexico South Africa

Change in Volume and Financial Performance2007 vs. 1983

Unit Case Multiple

Operating Profit Multiple

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Winning in China

Together, 1.6X Share of Sparkling as Nearest

Competitor

• Minute Maid +68%

• Sprite +25%

• Coca-Cola +8%

Growth Across the PortfolioGrowth Across the Portfolio

No. 1 OverallNo. 1 OverallNo. 1 Overall

Inspire China to Love and Drink

Our Core StrategyOur Core Strategy

Leverage Balanced

Geographic Portfolio

Leverage Balanced

Geographic Portfolio

Source: Internal Data

28

2008 Olympics - “The Year of the Shuang”Coke = 爽 Physical, Emotional, & Spiritual “Refreshment”

ADVERTISINGADVERTISING OLYMPIC TORCH RELAYOLYMPIC TORCH RELAY

SHUANG PASSION CENTERSSHUANG PASSION CENTERS

Leverage Balanced

Geographic Portfolio

Leverage Balanced

Geographic Portfolio

1.5 MM Outlets

CUSTOMERSCUSTOMERS

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Taking Action in North AmericaLeverage Balanced

Geographic Portfolio

Leverage Balanced

Geographic Portfolio

Execution ExcellenceExecution Excellence

• Improved In-store Appeal

• Customer Relationships

• Foodservice Leadership

• Powerade Growth +10%

• Innovate for Value

Grow Still Mega BrandsGrow Still Mega Brands

New Launch

• Three-Cola Strategy

• Reconnect to Core Occasions

Restore Sparkling GrowthRestore Sparkling Growth

• Leverage Contour Packaging

30

North America CommercialsLeverage Balanced

Geographic Portfolio

Leverage Balanced

Geographic Portfolio

vitaminwater Sweat

It’s Mine

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Accelerate Innovation - Today and Tomorrow Accelerate InnovationAccelerate Innovation

Equipment

Packaging

Ingredients

Products

IN DEVELOPMENTIN DEVELOPMENT

IN MARKETIN MARKET

32

Pre-Sport

Sports Drink Innovation Accelerate InnovationAccelerate Innovation

Launching Now in Australia

During Sport Post-Sport

Powerade Energy EdgePowerade Energy Edge Powerade IsotonicPowerade Isotonic Powerade RecoveryPowerade Recovery

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Strengthening Our Core Capabilities

New Pilot Markets for Best Practices

New Focus on Account Management

New Leadership and Focus at Point of Sale

WinEvery Day

ConsumerMarketingConsumerMarketing

Commercial Leadership

Commercial Leadership

FranchiseLeadershipFranchise

Leadership

Strengthen System

Capability

Strengthen System

Capability

34

Productivity is a Critical Growth EnablerStrengthen

System Capability

Strengthen System

Capability

Key Focus AreasKey Focus Areas ObjectivesObjectives

Supply Chain OptimizationSupply Chain Supply Chain OptimizationOptimization

Marketing & Innovation

Effectiveness

Marketing & Marketing & Innovation Innovation

EffectivenessEffectiveness

Operating EfficiencyOperating Operating EfficiencyEfficiency

• “Lean & Green” Supply Chain

• Total System

• Enhance Margins

• Increase Affordability

• Global Campaigns

• Upgraded R&D

• Optimize Global Brand Investment

• Organizational Alignment

• Shared Services

• Spend Effectiveness

• Fuel Growth and Build Foundation for Future Performance

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Sustainability is Good for Business

‘Grow the Business, Not the Carbon’

‘Recover or Reuse the Bottles & Cans

We Make’

‘Return the Water We Use’

‘Thriving at the Nexus of Refreshment &

Nutrition’

Strengthen System

Capability

Strengthen System

Capability

• Improved Water Efficiency

• Recycling Technology and Investment

• eKOfreshment Collaboration with Greenpeace

• Physical and Nutritional Education Programs

36

Building a Winning Culture

CLARITYFocused,

Consistent Strategy

STEWARDSHIPSustainability

Actions

ACCOUNTABILITYDelivering

Targets

LEADERSHIPPeople

Development

SPEED & RISK TAKINGGlaceau

Acquisition

FLEXIBILITYInnovative Still

Business Models

COLLABORATIONAligned and

Healthy Bottlers

WINNING CULTUREWINNING CULTURE

Strengthen System

Capability

Strengthen System

Capability

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Our Business Success is Driving Results for

Our Shareowners

38

Providing Solid Returns to Shareowners

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

'01 '02 '03 '04 '05 '06 '07

FYDPS

$ 1.36

US$

Bill

ions

30%Total Return toShareowners

in 2007

11%Dividend Growth

(5 Year CAGR)

2001 2001 -- 20072007Cash from OperationsCash from Operations

US $40BUS $40B

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We are Confident in Our Future

• Achieving Stronger Results …balanced growth

• No Better Business…vibrant industry

• Best Positioned …to capture the opportunity

• Focused on Winning …a disciplined strategy

Winning Today…Winning Tomorrow

Ongoing Currency Neutral

Our Winning Our Winning StrategyStrategy

LongLong--Term Growth Term Growth TargetsTargets

6%-8%

5%-6%

3%-4%

Volume Revenue OI EPS

High Single Digit

Muhtar KentPresident & Chief Operating Officer

February 22, 2008

2008

Winning Today. . . Winning Tomorrow