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PINAR ST MAMULLER SAN. A. PINAR ST MAMULLER SAN. A. 2011 3Q - PowerPoint PPT Presentation

PINAR ST MAMULLER SAN. A. PINAR ST MAMULLER SAN. A. 2011 3Q Investor Presentation Pnar St Highlights Innovator and pioneer #1 milk brand that comes to Hygenic and EU standard mind* producton More than 200 SKUs


  1. PINAR SÜT MAMULLERİ SAN. A.Ş PINAR SÜT MAMULLERİ SAN. A.Ş 2011 3Q Investor Presentation

  2. Pınar Süt Highlights •Innovator and pioneer •#1 milk brand that comes to •Hygenic and EU standard mind* producton •More than 200 SKUs •Best brand in dairy ** •Technical Expertise and sectoral •R&D expertise know-how •Among Turkey’s Superbrands*** •Among top 5 brands Turkish consumers feel closest to**** • Best fruit juice brand ***** Product Brand Production Portfolio Portfolio Equity Equity •Healthy, pure and standardized •YBP – Turkey’s biggest •Supply from more than 21000 products nationwide cold and frozen producers distribution chain •ISO 9001-2008 •Continuous quality control in each •More than 150.000 sales points step •ISO 14001 •Technical know-how and •Strong relations with farmers •ISO 22000 HACCP expertise •More than 200 contracted farms •FSSC 22000 •Synergy in the distribution of •Farms which are free of illness dairy and meat products and approved •Training and consultancy services Distribution Quality Supply Network * Ipsos 2010 ** Turkish Quality Association (Turkish Customer Satisfaction Index, 2010) ***Superbrands International 2008 ****Nielsen 2010 ***** Kalder, 2Q11 1

  3. Market Dynamics FMCG Growth Rate � Annual raw milk production is 15,0% 1Q11 Turnover Growth Rate YoY 714 million tons in the world; about 12 million 12,6% tons in Turkey, � Turkey is 15 th in world’s league, 10,0% 8,4% � Growth is expected in the milk 1,3%2,0%2,8%3,7%4,0%4,3%5,1%5,5%5,7%6,1% production/import of developing and growing 5,0% countries. � Global milk market reached to 269 billion 0,0% 0,0% litres by growing CAGR %2,2 during 2006- litres by growing CAGR %2,2 during 2006- 2010 -2,4% Source: Tetrapak -5,0% -3,3% Source:Nielsen Per Capita Milk Consumption (lt) Per Capita Milk Consumption in Turkey (lt) 132 110 90 83 69 53 50 46 43 31 25 19 10 5 Source: Tetrapak 2010 P 2 Source: Tetrapak

  4. Market Dynamics - II FMCG Value Growth (ex. tobacco) Raw Milk Base Price in Turkey (TL/lt) 8% 7,1% 0,95 TL Real growth 2009 2010 2011 6% 3,1% 4% 0,80 TL 2,6% 2% 0,3% 0,65 TL 0% YTD 2008 2009 2010 YGB '11 � Food category which has increased its share within 0,50 TL Jan Apr Jul Oct FMCG from %45 to %48 through a value growth in 1H11, Yoy. Source:Nielsen The average of base prices of Burdur ve South Marmara regions. Shift from Unpackaged to Packaged (Volume) 2007 2008 2009 2010 1H2011 � Trend for packaged dairy goods, 49,9 48,5 47,6 47,0 � Economic segment as the first step for those 40,8 transferring from unpackaged to packaged dairy 28,4 25,0 food, 23,9 21,8 19,6 � Trend towards value-added/organic/natural products, � Growth in “Away from Home” market, Packaged Cheese(%) Packaged Milk � Increased price competition in the market. (%) Source: IPSOS 3

  5. Ahead of competition � �������������������������������������������������������������������������������������������� Products Market Share Position Total Dairy Products (bn TL) PINAR (market share) 17,2% UHT Light Milk 64% Leader 2,5 16,3% 15,1% Total UHT Milk 30% Leader 15% 2,0 Organic Milk 100% First&Only 1,5 10% Enriched Milk (Kids) 54% Leader 2,14 2,09 1,0 1,93 Butter 17% Second 5% 0,5 0,5 Homogenized Yoghurt Homogenized Yoghurt 11% 11% Third Third Spreadable Cheese 39% Leader 0,0 0% Billion Fresh Cheese 75% Leader TL 9M09 9M10 9M11 Labaneh 55% Leader ������� ������� ������������������������������������������������� Cream Cheese 17% Leader ������������������������������������ Pınar Nearest Competitor 80% � Dairy products market has grown by 60% %2,2 in 9M2011, YoY. (Nielsen) 40% � Our marketing activities performed in 20% 2010 to increase our market share continue in also 2011. 0% UHT Light Total UHT Spreadable Fresh Labaneh Milk Milk Cheese Cheese 4 ������� ���������� �! "����������

  6. New Launches ��� ��������� � ����� ���� ���� ������� � ����� ��� ���� ���!� "���� #����� � ����� $����� #����� %&&� � +�����������,#������� ��������� � ����� '���� ���� (���� � ����� #���� #����� ���� #������ � � ����� #���� #����� ���� �����)*�� � ����� #���� #����� ���� �����)*�� � � ����� �������� #����� ���� #������ � ����� �������� #����� ���� �����)*�� � � ����� *������ .������ � ��� ������� ������� � ����� / '����� �������� 0���� $����� � *������ 12��� ����� +��� 3&&�� � 1� ����� 425 �� +�������� �������������������� ����!������� ������������������������������-������������������!���!�������������������� 5

  7. Product Groups & Sales Channels Products Groups (9M11) Sauce; 5% Others; 8% Fruit Juice; 7% Milk; 37% Butter; 6% Sales Channels (9M11) Yoghurt & Ayran; 11% Direct Export Cheese; 26% 5% 8% YBP 87% 6

  8. Growth in Sales Growth Rates of Product Groups 11% 200 9M10 9M11 9A10 9A11 8% 150 TL on TL Milyon T Million 1% 100 4% 45% 12% 27% 50 0 Sauce Others Fruit Juice Butter Yog&Ayran Cheese Milk Sos Diğer Meyve Tereyağ Yoğurt ve Peynir Süt Suyu Ayran Net Sales has grown by 10,3% in 9M11, YoY. 7

  9. Growth in the Number of YBP Customers 2008 2009 2010 140 Thousands 120 100 80 80 60 40 20 0 Milk Yoghurt Cheese Butter Fruit Juice Sauce 8

  10. Export � #$���������%���& '��(������)*������)�#��������+,������-�������( Foreign Sales by Countries (9M11) � +,��������&������������(�����������+�������+�������(���� Others; UAE; 9% 14% ����.�����.��� Bahrain; 4% Azerbaijan; � �����������������������.��-�������/�0����0����#�������� Qatar; 5% 4% 1�-�����2������0����34'�������������� Iraq; 12% Kuwait; � �����5��������6��(��������0�������������#$����7�)�%��0����� 14% �������(�����8������)������������)��������,����������9��(� ����������� Cyprus; 7% Cyprus; 7% � +,�������������5����������(����&::&����&: : S.Arabia; � .�������(����������5����-�����������-�������������(��������������� 32% ���8��������������-)���������������5��������� Foreign Sales by years (Million USD) � ���;�����)<��������(������������;���-������������������� Share of Export in Total Sales 9% ����0���������������-)���������9�5�������������������� 7% 8% 11% 7% ����������������5����������-������0����0���� 8% 28,0 29,7 29,0 9% 7% � ����5�������(����;�����)<����=2������ :�0�����-����������������������������� 24,6 24,4 24,4 ��� :�)����>�� 8% 21,1 20,8 10% 9% 14,5 11,9 12,3 9 2002 2003 2004 2005 2006 2007 2008 2009 2010 9M10 9M11

  11. FINANCIAL RESULTS FINANCIAL RESULTS

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