Pepsico international

Июль 31, 2022

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Pepsico international

Содержание

2. PepsiCo, Inc. is a global food, snack and beverage company founded in 1919. The Company's brands
3. (5 Year) Stock Market Performance Blue line – iShares S&P Global Consumer Staples (KXI) Red line
4. Technical Analysis Yahoo Finance 20 and 200 day moving average over a 5-year time horizon
5. Yahoo Finance 20 and 200 day moving average over a 2-year time horizon
6. Ownership Above 10 holders comprise 22.27% of shareholders’ ownership. Data as of 30th September, 2011, Financial
7. Macroeconomic Analysis Consumer spending: IBIS World estimates 2.6% compound growth in consumer spending from 2011 to
8. Industry Analysis Soda Production in the US: ~$17bn revenue, $2.5bn profit Performance Industry has been suffering
9. Industry Analysis (cont.) Snack Food Production in the US ~$28.4bn revenue, $5.9bn profit Performance Steady growth
10. Industry Analysis (cont.) Juice Production in the US ~$27bn revenue, $6.1bn profit Performance Recent performance has
11. Product Segments Source: Barclays “BTS” Consumer Conference, Sep 2011 http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf
12. 2010 Revenue Breakdown Source: Annual Report, Dec 2010
13. Global Markets Exposure About $20 billion or 31% of Revenue from emerging markets in 2010 Focus
14. Financial Performance 24% 5-year CAGR High operating margins and potential for growth 5-year Compounded Annual Growth
15. Savory Snacks Frito Lay’s World’s largest Food Brand $9.4bn Doritos $4 B, Cheetos $3.1 B, Ruffles
16. Beverages Source: Barclays “BTS” Consumer Conference, Sep 2011 http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf
17. Carbonated Soft Drinks Sustain powerhouse brands Sierra Mist, +7% in volume Mountain Dew, +2.5% in volume
18. Hydration & Nourishment Gatorade 11% Sales growth 77.3% Sports Drink market share Tropicana About 50% Sales
19. Nutrition Top 3 globally in Nutrition, aiming to be $30B business by 2020 Huge growth potential,
20. Recent Challenges and Concerns 2012 Pricing Strategy Commodity inflation and Demand elasticity Margins & Cost cutting
21. The Power of One Two powerful businesses worth $31B each Consumption: Planned together Bought together Consumed
22. Public Comparable Analysis Quaker/Nutrition SWX:NESN Nestlé S.A. Business areas include Food and Beverage, Nestle Waters and
23. Public Comparable Analysis - Quaker Range: 66.49 to 73.73 Median: 71.06 Price: 8.36
24. Public Comparable Analysis (cont.) Soft Drinks NYSE:KO The Coca-Cola Company Produce over 3,500 beverages. Notable brands
25. Public Comparable Analysis – Soft Drinks Range: 5029 to 81.79 Median: 56.40 Price: 24.00
26. Public Comparable Analysis (cont.) Frito-Lay NasdaqGS:LNCE Snyder's-Lance, Inc. Manufacturer and distributer of snack food products, including
27. Public Comparable Analysis – Frito-Lay Range: 21.52 to 67.22 Weight: 55.00 Other multiples low so used
28. Public Comparable Analysis (cont.) Tropicana NasdaqGS:HANS Hansen Natural Corporation Develops, sells and distributes beverages. Brands include
29. Public Comparable Analysis - Tropicana Range: 70.11 to 148.88 Median: 109.49 Price: 19.78
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Слайд 2

PepsiCo, Inc. is a global food, snack and beverage company founded

in 1919.
The Company's brands include Quaker Oats, Tropicana, Gatorade, Lay's, Pepsi, Walkers, Gamesa and Sabritas.
Market capitalisation: $100.68bn
Approximately around 294,000 employees worldwide.
December 5th 2011 closing price: $64.40
52-week range: $58.50-$71.89

Introduction

Слайд 3

(5 Year) Stock Market Performance
Blue line – iShares S&P Global Consumer Staples (KXI)
Red

line – PepsiCo
Green – S&P 500 index

Yahoo Finance

Слайд 4

Technical Analysis
Yahoo Finance
20 and 200 day moving average over a 5-year

time horizon

Слайд 5

Yahoo Finance
20 and 200 day moving average over a 2-year time

horizon

Слайд 6

Ownership
Above 10 holders comprise 22.27% of shareholders’ ownership.
Data as of 30th

September, 2011, Financial Times

Слайд 7

Macroeconomic Analysis
Consumer spending:
IBIS World estimates 2.6% compound growth in consumer spending

from 2011 to 2016

http://clients.ibisworld.com/bed/default.aspx?bedid=363http://clients.ibisworld.com/bed/default.aspx?bedid=363 Image: http://clients.ibisworld.com/charts/bed/1_1_363_BEDScores.png

Слайд 8

Industry Analysis
Soda Production in the US:
~$17bn revenue, $2.5bn profit
Performance
Industry has been

suffering recently with an annual 7.1% decline from 2006 to 2011
Outlook
IBIS World project a negative annual growth rate of -2.0% for 2011 to 2016
Major Players
The Coca-Cola Company - Market Share: 41.2%
PepsiCo Inc. - Market Share: 33.6%
Dr Pepper Snapple Group Inc. - Market Share: 15.4%

http://clients.ibisworld.com/industryus/default.aspx?indid=285

Слайд 9

Industry Analysis (cont.)
Snack Food Production in the US
~$28.4bn revenue, $5.9bn profit
Performance
Steady

growth with an annual rate of 4.2% from 2006 to 2011
Outlook
IBIS World project an annual growth rate of 2.1% for 2011 to 2016
Major Players
Frito Lay North America - Market Share: 48.4%
Kraft Foods Inc. - Market Share: 5.2%
General Mills Inc. - Market Share: 5.1%

http://clients.ibisworld.com/industryus/default.aspx?indid=271

Слайд 10

Industry Analysis (cont.)
Juice Production in the US
~$27bn revenue, $6.1bn profit
Performance
Recent performance

has been strong with annual growth rates of 10.4% from 2006 to 2011
Outlook
IBIS World project an annual growth rate of 0.5% for 2011 to 2016
Major Players
PepsiCo Inc. - Market Share: 38.4%
The Coca-Cola Company - Market Share: 21.5%
Dr Pepper Snapple Group Inc. - Market Share: 6.1%

http://clients.ibisworld.com/industryus/default.aspx?indid=287

Слайд 11

Product Segments
Source: Barclays “BTS” Consumer Conference, Sep 2011
http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf

Слайд 12

2010 Revenue Breakdown
Source: Annual Report, Dec 2010

Слайд 13

Global Markets Exposure
About $20 billion or 31% of Revenue from emerging

markets in 2010
Focus on growth in Central Asia and Eastern Europe
70% growth of sales in Russia over last 2 years
Robust economic indicators, low debt ratios, good foreign exchange reserves
Wimm-Bill-Dann acquisition
66% at $3.8 B total ownership to 77%
15 Aug 2011, ‘squeeze-out demand’ for other 23%
3,883.70 Russian rubles per share

Source: Q3 Earnings Release, Oct 2011

Слайд 14

Financial Performance
24% 5-year CAGR
High operating margins and potential for growth
5-year Compounded

Annual Growth Rates:
12% in Net Revenue
10% Operating Profit
$29 B in Dividend and Share repurchases in the last 5 yrs

9% EPS
8% Operating Cash Flow

Слайд 15

Savory Snacks
Frito Lay’s World’s largest Food Brand $9.4bn
Doritos

$4 B, Cheetos $3.1 B, Ruffles $2.6bn,
Tositos $1.7bn, Fritos $1.3bn

Transnational expansion strategy through balance between:
Localization
Maintaining consistent quality standards and cooking processes
5-year CAGR:
3% Volume
8% Revenue
8% NOPBT

Source: Q3 Earnings Release, Oct 2011

Слайд 16

Beverages
Source: Barclays “BTS” Consumer Conference, Sep 2011
http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf

Слайд 17

Carbonated Soft Drinks
Sustain powerhouse brands
Sierra Mist, +7% in volume
Mountain Dew, +2.5%

in volume
Pepsi Max, +93% in volume
Focused advertising & marketing campaigns
Pepsi Max
Diet Pepsi
Pepsi
Social media exposure
Continue innovating products
Pepsi Next
Develop Occasion-based marketing
On-the-Go Refreshment
Special Occasion and Celebrations
Meal-time and Snacking

Source: Q3 Earnings Release, Oct 2011

Слайд 18

Hydration & Nourishment
Gatorade
11% Sales growth
77.3% Sports Drink market share
Tropicana
About 50% Sales

TTM growth
$150 MM

Source: Q3 Earnings Release, Oct 2011
Barclays “BTS” Consumer Conference, Sep 2011
http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf

Слайд 19

Nutrition
Top 3 globally in Nutrition, aiming to be $30B business by

2020
Huge growth potential, 5-year double-digit revenue CAGR
Strong demographic and consumer interest in health and wellness
Aging population seeking healthy and tasty foods
On-the-Go consumers and their demand for convenience

Source: Q3 Earnings Release, Oct 2011
Barclays “BTS” Consumer Conference, Sep 2011
http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf

Слайд 20

Recent Challenges and Concerns
2012 Pricing Strategy
Commodity inflation and Demand elasticity
Margins &

Cost cutting measures
Currency exposure
Investors appealing for a split of Snacks and Beverages
Strong growth in snacks business
Strong growth with Tropicana and Gatorade
Weak CSD strategy and culture has impacted PepsiCo’s overall stock performance
While Coke has increased by about 50%
Over-spending in marketing and advertising
Kraft and Sara Lee example

Source: “Don’t Rule Out a Pepsi Breakup Yet”, Barron’s, 11/19/2011
Q3 Earnings Release, Oct 2011

Слайд 21

The Power of One
Two powerful businesses worth $31B each
Consumption:
Planned together
Bought together
Consumed

together
Synergies unique to PepsiCo that lead to selling & service advantages and efficient operations:
Common Merchandising
Convenience Store Channel
Demographics
Broad Price Points
Prime-time Merchandising
Distribution Networks
New NFL 10 Year Deal

Source: Q3 Earnings Release, Oct 2011

Слайд 22

Public Comparable Analysis
Quaker/Nutrition
SWX:NESN Nestlé S.A.
Business areas include Food and Beverage,

Nestle Waters and Nestle Nutrition.
NYSE:KFT Kraft Foods Inc.
Manufactures and markets packaged food products, including biscuits, confectionery, beverages, cheese, convenient meals and various packaged grocery products.
NYSE:BGS B&G Foods Inc.
B&G Foods, Inc. (B&G Foods) manufactures, sells and distributes a diverse portfolio of branded shelf-stable food products.
NYSE:GIS General Mills, Inc.
Global manufacturer and marketer of consumer foods. products categories in the US include cereals, refrigerated yogurt, soups, shelf stable and frozen vegetables, dough products, dessert and baking mixes, grain, fruit and savory snacks, and a variety of organic products.

Слайд 23

Public Comparable Analysis - Quaker
Range: 66.49 to 73.73
Median: 71.06
Price: 8.36

Слайд 24

Public Comparable Analysis (cont.)
Soft Drinks
NYSE:KO The Coca-Cola Company
Produce over

3,500 beverages. Notable brands include: Coca-Cola, Powerade, Fanta, Sprite, Dasani and Vitamin Water
NYSE:COT Cott Corporation
Products: Red Rooster, Blue Charge
NYSE:DPS Dr Pepper Snapple Group, Inc.
Products: Dr Pepper, 7UP, Canada Dry, RC Cola Deja Blue
NasdaqGS:FIZZ National Beverage Corp.
Products: Shasta, Faygo, Everfresh

Слайд 25

Public Comparable Analysis – Soft Drinks
Range: 5029 to 81.79
Median: 56.40
Price: 24.00

Слайд 26

Public Comparable Analysis (cont.)
Frito-Lay
NasdaqGS:LNCE Snyder's-Lance, Inc.
Manufacturer and distributer of

snack food products, including pretzels, crackers, kettle chips, cookies, potato chips and tortilla chips.
NasdaqGS:DMND Diamond Foods, Inc.
Products: Kettle Brand Potato Chips,
NYSE:CAG ConAgra Foods, Inc.
Consumer Foods producer. Brands include Banquet, David Seeds, Egg Beaters, Healthy Choice, Hebrew National, Pam and Snack Pack.
NYSE:HSY Hershey Co.
Snacks

Слайд 27

Public Comparable Analysis – Frito-Lay
Range: 21.52 to 67.22
Weight: 55.00
Other multiples low

so used closer to P/E
Price: 15.17

Слайд 28

Public Comparable Analysis (cont.)
Tropicana
NasdaqGS:HANS Hansen Natural Corporation
Develops, sells and

distributes beverages. Brands include Monster Energy, Peace Tea, Hansen's, Hansen's Natural Sodas, Junior Juice, Blue Sky, X-Presso Monster, Vidration, Hubert's, Rumba, Samba and Tango.
NYSE:CQB Chiquita Brands International Inc.
Products: Chiquita Fruit juices

Слайд 29

Pepsico international

Содержание

PepsiCo, Inc. is a global food, snack and beverage company founded

(5 Year) Stock Market PerformanceBlue line – iShares S&P Global Consumer Staples (KXI)Red

Technical AnalysisYahoo Finance20 and 200 day moving average over a 5-year

Yahoo Finance20 and 200 day moving average over a 2-year time

OwnershipAbove 10 holders comprise 22.27% of shareholders’ ownership.Data as of 30th

Macroeconomic AnalysisConsumer spending: IBIS World estimates 2.6% compound growth in consumer spending

Industry AnalysisSoda Production in the US: ~$17bn revenue, $2.5bn profitPerformanceIndustry has been

Industry Analysis (cont.)Snack Food Production in the US~$28.4bn revenue, $5.9bn profitPerformanceSteady

Industry Analysis (cont.)Juice Production in the US~$27bn revenue, $6.1bn profitPerformanceRecent performance

Product SegmentsSource: Barclays “BTS” Consumer Conference, Sep 2011http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf

2010 Revenue BreakdownSource: Annual Report, Dec 2010

Global Markets ExposureAbout $20 billion or 31% of Revenue from emerging

Financial Performance24% 5-year CAGRHigh operating margins and potential for growth5-year Compounded

Savory Snacks Frito Lay’s World’s largest Food Brand $9.4bn Doritos

BeveragesSource: Barclays “BTS” Consumer Conference, Sep 2011http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf

Carbonated Soft DrinksSustain powerhouse brandsSierra Mist, +7% in volumeMountain Dew, +2.5%

Hydration & NourishmentGatorade11% Sales growth77.3% Sports Drink market shareTropicanaAbout 50% Sales

NutritionTop 3 globally in Nutrition, aiming to be $30B business by

Recent Challenges and Concerns2012 Pricing StrategyCommodity inflation and Demand elasticityMargins &

The Power of OneTwo powerful businesses worth $31B eachConsumption:Planned togetherBought togetherConsumed

Public Comparable AnalysisQuaker/NutritionSWX:NESN Nestlé S.A. Business areas include Food and Beverage,

Public Comparable Analysis - QuakerRange: 66.49 to 73.73Median: 71.06Price: 8.36

Public Comparable Analysis (cont.)Soft Drinks NYSE:KO The Coca-Cola Company Produce over

Public Comparable Analysis – Soft DrinksRange: 5029 to 81.79Median: 56.40Price: 24.00

Public Comparable Analysis (cont.)Frito-Lay NasdaqGS:LNCE Snyder's-Lance, Inc. Manufacturer and distributer of

Public Comparable Analysis – Frito-LayRange: 21.52 to 67.22Weight: 55.00Other multiples low

Public Comparable Analysis (cont.)Tropicana NasdaqGS:HANS Hansen Natural Corporation Develops, sells and

Public Comparable Analysis - TropicanaRange: 70.11 to 148.88Median: 109.49Price: 19.78

Похожие презентации

(5 Year) Stock Market Performance
Blue line – iShares S&P Global Consumer Staples (KXI)
Red

Technical Analysis
Yahoo Finance
20 and 200 day moving average over a 5-year

Yahoo Finance
20 and 200 day moving average over a 2-year time

Ownership
Above 10 holders comprise 22.27% of shareholders’ ownership.
Data as of 30th

Macroeconomic Analysis
Consumer spending:
IBIS World estimates 2.6% compound growth in consumer spending

Industry Analysis
Soda Production in the US:
~$17bn revenue, $2.5bn profit
Performance
Industry has been

Industry Analysis (cont.)
Snack Food Production in the US
~$28.4bn revenue, $5.9bn profit
Performance
Steady

Industry Analysis (cont.)
Juice Production in the US
~$27bn revenue, $6.1bn profit
Performance
Recent performance

Product Segments
Source: Barclays “BTS” Consumer Conference, Sep 2011
http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf

2010 Revenue Breakdown
Source: Annual Report, Dec 2010

Global Markets Exposure
About $20 billion or 31% of Revenue from emerging

Financial Performance
24% 5-year CAGR
High operating margins and potential for growth
5-year Compounded

Savory Snacks
Frito Lay’s World’s largest Food Brand $9.4bn
Doritos

Beverages
Source: Barclays “BTS” Consumer Conference, Sep 2011
http://www.pepsico.com/Download/Barclays_BTS_Presentation.pdf

Carbonated Soft Drinks
Sustain powerhouse brands
Sierra Mist, +7% in volume
Mountain Dew, +2.5%

Hydration & Nourishment
Gatorade
11% Sales growth
77.3% Sports Drink market share
Tropicana
About 50% Sales

Nutrition
Top 3 globally in Nutrition, aiming to be $30B business by

Recent Challenges and Concerns
2012 Pricing Strategy
Commodity inflation and Demand elasticity
Margins &

The Power of One
Two powerful businesses worth $31B each
Consumption:
Planned together
Bought together
Consumed

Public Comparable Analysis
Quaker/Nutrition
SWX:NESN Nestlé S.A.
Business areas include Food and Beverage,

Public Comparable Analysis - Quaker
Range: 66.49 to 73.73
Median: 71.06
Price: 8.36

Public Comparable Analysis (cont.)
Soft Drinks
NYSE:KO The Coca-Cola Company
Produce over

Public Comparable Analysis – Soft Drinks
Range: 5029 to 81.79
Median: 56.40
Price: 24.00

Public Comparable Analysis (cont.)
Frito-Lay
NasdaqGS:LNCE Snyder's-Lance, Inc.
Manufacturer and distributer of

Public Comparable Analysis – Frito-Lay
Range: 21.52 to 67.22
Weight: 55.00
Other multiples low

Public Comparable Analysis (cont.)
Tropicana
NasdaqGS:HANS Hansen Natural Corporation
Develops, sells and

Public Comparable Analysis - Tropicana
Range: 70.11 to 148.88
Median: 109.49
Price: 19.78