Financial Results Presentation for the year ended December 31, 2008 February 12, 2009 Coca-Cola West(2579) ［ Contact ］ ＩＲ TEL +81-92-283-5724 FAX +81-92-283-5729 ［URL］ http://www.ccwest.co.jp/english ［E-mail］ shigeki-okamoto@ccwest.co.jp
Contents Ⅰ．2008 Financial Results Ⅱ．2009 Annual Business Plan 【Reference】 2008 full year reference data 2008 4Q reference data Performance trend/Financial data Chang in accounting method in 2007 1
Summary � Sales volume � Sales volume： ： - -0.3 0.3% vs. plan, + % vs. plan, +0.1 0.1% vs. last year % vs. last year 【Main factors Main factors】 】 【 2008 2008 ・Declining in consumption due to the effect of downturn Declining in consumption due to the effect of downturn ・ in economy in economy Full year Full year ・Short supply of products by CCNBC ・ Short supply of products by CCNBC results results ・Unfavorable weather in summer Unfavorable weather in summer ・ � Financial results � Financial results： ： Operating income down 32% vs. last year Operating income down 32% vs. last year 【Three changes 【 Three changes】 】 2009 2009 １．Sales structure Sales structure ２． ２．SCM SCM ３． ３．Business efficiency and cost Business efficiency and cost- -cutting cutting １． Annual Annual � Sales volume � Sales volume： ： 190 190 million cases (+2.1%) million cases (+2.1%) Business Business � Earning forecast � Earning forecast： ： Operating income 13 billion yen (+2.5 billion yen) Operating income 13 billion yen (+2.5 billion yen) plan plan * expect risk of 1 billion yen * expect risk of 1 billion yen 2
Ⅰ. . 2008 2008 Financial Results Financial Results Ⅰ 3
2008 Full year - Sales volume vs. plan * vs. last year actula (thousand case) change % change % Sales volume 186,502 -561 -0.3 +265 +0.1 * The above plan is based on the performance forecast announced as of October 29, 2008. Quarterly Sales volume (vs. ly) (％) +1.0 +0.9 1.0 +1.3 ＜main factor＞ ＜main factor＞ ・unfavorable ・Downturn in weather (June) economy 0.0 ＜main factors＞ -0.9 ・Product shortage (August) -0.4 ・Unfavorable weather -1.0 (Aug-Sep) 4Q 2008 1Q 2Q 3Q 4Q Weather Weather Volume Volume 0 (vs. ly) (vs. ly) Osaka Fukuoka Osaka Fukuoka Monthly vending sales volume (vs. ly) -82.5 -333.0 Preciptation(mm) +71.0 +345.5 Preciptation(mm) -2 -2.9 Jul +17.8 Jun -1.9 +2.8 +2.7 Temperature℃) -0.5 -1.6 Temperature℃) -3.8 +20.0 +240.5 Preciptation(mm) -4 -5.5 Aug -9.8 -1.5 -1.8 Temperature℃) +72.0 +102.0 -6 Preciptation(mm) Sep -2.5 Oct Nov Dec -2.7 -2.0 Temperature℃) 4
2008 Full year - Sales volume by brand Review Review Sale volume by brand Sale volume by brand (thousand case) ■Cola-Cola 2008 Sales of Zero increase despite being second year in the market. vs. plan vs. last year Actual change % change % ■Georgia Coca-Cola 18,152 +192 +1.1 +1,179 +6.9 Recovery trend centered in core flavors. Georgia 42,216 -317 -0.7 -157 -0.4 C ■Soukenbicha o Soukenbicha 14,268 -267 -1.8 -1,391 -8.9 r Down at 8.9% due to sluggish sales of e Aquarius 19,103 -472 -2.4 -314 -1.6 seasonable flavors. subtotal 93,739 -864 -0.9 -683 -0.7 ■Aquarius Priority 27,991 +113 +0.4 +2,541 +10.0 Slightly down at 1.6% due to the influence of product shortage by CCNBC. Share gain. Other 64,772 +190 +0.3 -1,593 -2.4 Total 186,502 -561 -0.3 +265 +0.1 ■Priority brand Fanta: +2.0% vs. plan, +21.8% vs. last year *Priority brand ： Fanta, Mineral Water, Minute Maid, Hajime/Ayataka 5
2008 Full year - Sparkling brands � Sparkling +8.4% vs. last year � Sparkling +8.4% vs. last year Coca- -Cola +6.9% Cola +6.9% Coca Fanta +21.8% +21.8% Fanta Sparkling sales (2006～2008) (thousand case) 31,723 +8.4% ＋ ＋2, 2,4 469 69 +6.4% Cola ： ： ＋ ＋ 1,179 1,179 （＋ （＋ 6.9 6.9 ％） ％） Coca- -Cola Coca 29,253 ： ＋ ＋ 1,657 （＋ 21.8 21.8 ％） ％） ： 1,657 （＋ Fanta Fanta 27,495 2006年 2007年 2008年 6
2008 Full year - Georgia � Core flavor � Core flavor “ Emerald ” ” +11.4% vs. last year +11.4% vs. last year “ Emerald � Core flavor � Core flavor “ European ” ” has been recovered since its renewal (July) has been recovered since its renewal (July) “ European � Total � Total - -0.4 0.4% vs. last year % vs. last year 2008 Sales volume by flavor 構成比（％） Sales change % (thousand case) Emerald Mountain Blend (Standard) 6,426 +405 +6.7 Emerald Mountain Blend (Caf é Au Lait) 1,815 +1,815 - Emerald Mountain Blend (Black) 1,925 +1,925 - Euopean 7,550 -631 -7.7 subtotal 17,716 +3,513 +24.7 Other 24,500 -3,670 -13.0 Georgia total 42,216 -157 -0.4 Quarterly Georgia sales vs. last year (%) +1.0 +0.5 +0.4 -1.0 +0.6 -0.2 -3.7 -1.9 -4 2007 1Q 2Q 3Q 4Q 2008 1Q 2Q 3Q 4Q 7
2008 Full year - Sales volume by channel Review Review Sales volume by channel Sales volume by channel ■Vending (thousand case) # of vending machine increased, but volume per 2008 machine decreased vs. plan vs. last year actual change % change % ■Chain store Vending 57,795 -754 -1.3 -1,207 -2.0 Share gain Chain store 42,037 +16 +0.0 +2,668 +6.8 ■CVS Share gain 19,176 -67 -0.3 +575 +3.1 CVS Retail 24,350 -29 -0.1 -1,475 -5.7 ■Retail Sales was as expected Food service 18,418 -61 -0.3 +47 +0.3 ■Food service Other 24,726 +333 +1.4 -344 -1.4 Sales was as expected Total 186,502 -561 -0.3 +265 +0.1 8
2008 Full year - Vending Monthly occupational field sales condition (vs. last year) Monthly occupational field sales condition (vs. last year) 20% 10% 0% -10% -20% 1月 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 ［Aug］ ［Jun］ ［Sep～］ ・Product ・Unfavorable ・Downturn in economy shortage weather ・Unfavorable weather 9
2008 Full year - Chain store � Share gain due to the favorable sales of sparkling and mineral w � Share gain due to the favorable sales of sparkling and mineral water ater (annual: +1.0 1.0 point) point) (annual: + Market share (vs. last year) (point) +1.6 +1.5 +0.7 +0.1 +0.1 0 Q4 2008 Q1 Q2 Q3 Q4 ［Aug］ influenced by product shortage/ unfavorable weather 10
OTC market share (exclude VM) - CCW area (%, point) 100％ 39.9% Other Other 41.2% 41.7% 41.8% 42.6% 5.5% ＋0.2 6.1% ＋0.4 6.1% 5.8% D D 5.3% ＋0.0 ＋0.0 ＋0.1 6.8% ＋0.5 6.2% 6.3% ＋0.2 6.2% 6.5% ＋0.6 ＋0.1 ＋0.3 C C 8.8% -0.2 8.7% 8.4% ＋0.3 9.0% B 9.0% ＋0.5 B ＋0.4 ＋0.3 16.2% 15.5% 15.1% ＋1.2 A A 15.0% 15.5% ＋0.6 ＋0.8 -0.4 ＋0.7 22.4% 22.8% CCW 22.3% ＋1.0 CCW 21.8% -0.2 21.5% ＋0.5 ＋0.9 -0.4 4Q 2008 1Q 2Q 3Q 4Q * The numbers outside the Source： Intage graph are vs. last year 11
2008 Full year - Consolidated P/L (thousand case, million yen) 2008 2008 vs. plan 2007 *2 vs. last year 2007 vs. last year actual plan *1 change % actual change % actual change % Sales 186,502 187,063 -561 -0.3 186,237 265 0.1 186,237 265 0.1 volume Revenues 395,556 401,000 -5,443 -1.4 409,521 -13,965 -3.4 409,521 -13,965 -3.4 Gross 163,931 168,000 -4,068 -2.4 175,208 -11,276 -6.4 175,208 -11,276 -6.4 profit Operating 10,521 12,200 -1,678 -13.8 15,492 -4,970 -32.1 16,056 -5,534 -34.5 income Recurring 11,048 13,500 -2,451 -18.2 16,929 -5,881 -34.7 17,493 -6,444 -36.8 income Net income 129 1,000 -870 -87.0 9,048 -8,919 -98.6 9,375 -9,245 -98.6 *1)The above plan is based on performance projections announced as of October 29, 2008. *2)The actual of 2007 is revised as below in order to compare with same accounting method. (We changed accounting method in 2007) Items ･Review of the advanced payment depreciation method of Kinki : added 563 million yen as cost 12
2008 Full year - Consolidated P/L change factors (vs. plan) 2008 (100 million yen) plan actual change main factors for increase/decrease change -41.9 Impact from sales companies Revenues 4,010 3,955 -54 +1.7 Increase in profit from toll fee -14.1 Impact on other consolidated companies -30.1 Impact from sales companies Gross +1.0 Increase in profit from toll fee 1,680 1,639 -40 profit -3.2 Impact on CCNBC - Purchasing price -8.3 Impact on other consolidated companies Increase/decrease of COGS +7.1 Decrease in personnel cost +7.0 Decrease in sales commission Operating 122 105 -16 +3.3 Decrease in advertising cost income +1.7 Decrease of fuel, travel cost, etc +1.6 Decrease in depreciation cost +3.0 Other Recurring -7.5 Impact on equity in earnings of affiliates 135 110 -24 income +0.3 Change of extraordinary income 10 1 -8 Net income +10.2 Change of extraordinary losses +5.2 Income taxes 13
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