SlideShare a Scribd company logo
Vigor Alimentos S.A.
    Earnings Release Q2’12
0
Disclaimer
This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating
and financial results, and those related to growth prospects of Vigor Alimentos. These are merely projections and, as such,
are based exclusively on the expectations of Vigor’s management concerning the future of the business and its continued
access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on
changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy
and the industry, among other factors and risks disclosed in Vigor’s filed disclosure documents and are, therefore, subject
to change without prior notice.




                                                                                               1
                                                               1
Agenda




   Summary

   Vigor Alimentos

   Results

   What we have done and our next steps

   Our Vision




2
Highlights
        EBITDA in 1H12 is equivalent to full FY 2011



        EBITDA
           R$18.6 million in 2Q12, +125% yoy
            R$43.4 million in 1H12 +148% yoy

        Net Revenue
            R$324.2 million in 2Q12 (+9.8%) yoy

            +9.0% yoy in 1H12 to R$638.4 million

            Better mix with reduction in UHT milk participation (-23.2%yoy) and growth of Cheese and Requeijões (+16.5%)
             and Spreads (+25.3%) categories

            Diversified product porfolio and presence in 2 segments show the resilience of business model

            Consumer (+6.4%) and Food (+21.8%) vs. Nielsen Consumer Basket1(+0.4%) vs. Perishable Basket (-0.5%)




1 Volume, value and price variation – LTM ended April 2012 – Total Brazil, basis: 137 product categories – Total Brazil
Source: Nielsen | Retail Index

                                                                                                       3
Highlights
             EBITDA in 1H12 is equivalent to full FY 2011


             Volume
              +12.3% yoy in Q2’12 yoy (net of UHT milk)
                +12,6% in 1H12 yoy (net of UHT milk)


             Gross Margin

                Gross Profit +26.0% in Q2’12 yoy to R$92,1 million (Gross Margin +3.7 p.p. to 28.4%)

                  +21.8% in 1H12 yoy to R$182.4 million (Gross Margin +3.0 p.p. to 28.4%)



             Cash Generation

                Cash Flow from Operations1 in 1H12 (R$ 28.4 million) was higher than Capex
                Adjusted Net Debt 2 in june, 30 2012 amounted R$10.9 million




Notes:
1. Includes interests from Refis (tax installments) of R$9.5 million
2. Includes the net result from the FX swap (R$31.6 million) hedge USD denominated debt
                                                                                          4
Our product categories

Diversified product categories with high          Net Revenue – 1H12
          value-added products                       Total: R$ 638.4 million
Yogurts
High Margins (%);
Seasonality in Q3 and Q4;
Focus in innovation and product launching              Creams and
                                                          others    Yogurts
                                                           13%       22%
Cheese and Requeijões                           UHT Milk
Leader brands in categories;                      8%
High Margins in R$;


Spreads                                                              Cheese and
                                                    Spreads          Requeijões
High household penetration level;
                                                     28%                26%
Helps diversify the cost matrix;
Possible to add “brand” equity


UHT Milk
Low volume;
Margin under severe discipline



Creams and Others
Focus on Food Service segment;




                                            5
...underpinned by our brands and market segments
 Reference brands on the consumer segment, and leadership in Food Service




                                                  Consumo                                            Food Service




                                                                                     B/C
                   A/B/C              A/B              A/B              A/B                            Business to
Segmentation                                                                        Regional
                National Brand   National Brand   National Brand   National Brand                       Business
                                                                                     Brand




Main produtos      Yogurt /                                                          UHT milk   Non-sweet      Pastry and
                                   Cheese /         Parmesan          Special
                   Cheese                                                             Butter     products        basic
                                   Dessert           cheese           cheese
                   spread                                                           Chocolate                 ingredients
                                                                                       milk




                                                               6
Performance
                 + 9.8% yoy Revenue growth mirros the change in product mix to more value-added products

   Volume sold net of UHT                Volume Sold (Ton)                                                                           Net Revenue (R$ ‘000)
                                               90,126                           181,556
                     75,049
             12,3%                                                                                                                                                       638,409
                                                                                                                                            324,233

                                                                   1.5%                                                      9.8.%                            9.0%
        66,803
                                     3.5%


                                                                                                                                                         585,694
         2T11        2T12
                              87,111                             178,940
                                                                                                                        295,398




                              2Q11             2Q12               1H11               1H12                                2Q11                2Q12            1H11         1H12



Volume Sold - tonnes              2Q11         2Q12      ∆%       1H11      1H12        ∆%          Net revenues - R$ '000        2Q11       2Q12     ∆%        1H11     1H12      ∆%
Yogurt                             19,145      18,892   -1.3%      42,617   40,901     -4.0%        Yogurt                         63,621     67,069 5.4%      135,650 143,096 5.5%
Cheese and Requeijões                  5,664    6,397   12.9%      11,349   12,578     10.8%        Cheese and Requeijões          73,599     85,720 16.5%     141,769 165,523 16.8%
Spreads                            28,414      35,684   25.6%      54,345   70,101     29.0%        Spreads                        81,863    102,556 25.3%     155,933 195,027 25.1%
UHT Milk                           20,307      15,077   -25.8%     44,068   29,628     -32.8%       UHT Milk                       33,409     25,665 -23.2%     70,147   49,696 -29.2%
Creams and Others                  13,581      14,077   3.7%       26,562   28,348     6.7%         Creams and Others              42,907     43,223 0.7%       82,195   85,067 3.5%
Total                              87,111      90,126   3.5%      178,940 181,556      1.5%         Total                         295,398    324,233 9.8%      585,694 638,409 9.0%




                                                                                                7
Performance
          EBITDA Margin growth reflects increase in Gross Margin

             Gross Profit (R$ ‘000); Gross Margin(%)                                                EBITDA (R$ ‘000); EBITDA Margin(%)


                                                        21.8%                 182,393                                     18,589                        43.442
                                      92,056                                                                                        168.8%
                     26%                                                                            124.5%
                                                                              28.6%
                                       28.4%             149,715                                                          5.7%
                                                                                                                                                         6,8%

                 73,052
                                                          25.6%
                                                                                                       8,280                        17.741
                  24.7%
                                                                   Δ=3,0p.p                             2.8%
                          Δ=3,7p.p
                                                                                                               Δ=2,9p.p             3,0%

                                                                                                                                             Δ=3,8p.p

                  2Q11                2Q12                1H11                1H12                     2Q11               2Q12      1H11                1H12



Gross Profit - R$ '000               2Q11      2Q12      ∆%         1H11          1H12         ∆%    Increase in EBITDA Margin of 3.8p.p. (6M12)
Yogurt                               23,584    28,250   19.8%        50,902       61,230   20.3%          +3,0 p.p. Gross Margin
Cheese and Requeijões                18,538    20,592   11.1%        36,485       38,575   5.7%           +0.8 p.p. SG&A
Spreads                              11,313    19,806   75.1%        22,207       37,056   66.9%
UHT Milk                              3,831     5,444   42.1%         8,874        9,740   9.8%
Creams and Others                    15,787    17,964   13.8%        31,247       35,791   14.5%
Total                                73,053    92,056   26.0%       149,715 182,393        21.8%




                                                                                           8
Cash Generation and Leverage
        Cash Flow from Operations1 supported Capex

              Cash Flow in 1H12 – R$ Million                                                          Net Debt (06/30/2012) – R$ Million

                           28.4           28.0                                                                                   31.6

                                                       110.2

                                                                                                          203.8
                                                                                                                     254.4
             321.7                                                                                                                              211.9

                                                                      211.9

                                                                                               50.6                                                       10.9
                                                                                                                                        2
         Cash Dez/11    Cash flow        Capex       Cash flow    Cash Jun/12               Short Term Long Term Total Debt      Swap           Cash    Adjusted 3
                          from                         used in                                                                                          Net Debt
                        operations                   financing

                                                                                               Line               Average Rate              Due to      Balance

                                                                                      BNDES                          11.44%                 16/11/12       42,0

                                                                                      FCO                             10%                   02/05/14        1,6

                                                                                      Finame                          8,7%                  15/07/16        1,3

                                                                                      BOND 4                      FX + 10,25%               24/08/12      209,4
                                                                                     Total Debt                                                           254,4



1.Includes interests from Refis (tax installments) of R$ 9.5 million
2.Net result from the FX swap to hedge the USD denominated debt [Notes 2017 (U.S.$ 100,000,000 9.25% Step-up Notes due 2017)]
3. Includes the net result from the FX Swap to hedge the USD denominated debt (R$31.6 million)
4. Debt denominated in USD with swap to hedge FX variation                          9
What we have done, and our next steps

                               Iniciatives already implemented…                                   …and thers to come

                         • Innovation and new product launching
                                                                                        • Shutdown of product lines not aligned with
Strengthening of key     • New media campaign
                                                                                          Company’s strategy
      brands             • New marketing communication aligned with new product
                           positioning and pricing                                      • Increase of innovation in our portfolio




                                                                                        • Beginning of our geographic expansion to raise our
Growth of distribution   • Review of our go-to-market model
                                                                                          presence in areas close to our core market
      network            • Merchandising with dedicated team
                                                                                        • Continue to insulate São Paulo market




   Excellence in
                          • Meritocracy in management, with systematic KPI’s tracking
  Management and                                                                        • Keep investing in our people’s development;
                          • With relevant know-how and external experience
     Corporate                                                                          • People , and Finance and Risk Committees;
                          • Majority of Board of Directors members are independent
    Governance



                           • Product-specific Factories
    State of art in        • Capex in high potential growth categories                  • Quality Certification guaranteed in every factory;
Production processes       • Milk producers fidelity program




                                                                             10
Our Vision
Big food Company, one of the biggest dairy companies in Brazil


                                         • Development of innovation according to seasonal waves
     Categories and Segments             • Further development of Food Service segment




                                         • Improve our presence in markets close to core market (SP)
       Geographic expansion              • Lower the company’s dependence of São Paulo market;




                                         • Increase in productive capacity, with investments c.R$500 miilion in the
           Investment Plan                 next years;




           EBITDA Margin                 • Continuously increase in margins to surpass historic levels




                                         • Increase stock liquidity
          Capital Structure              • Reduction of cost of capital
                                         • Return on Invested Capital tor shareholders Policy




                                                     11
THANK YOU!
     Our Contact Details
     Web: www.vigor.com.br/ir
     E-mail: ri@vigor.com.br

     Tel.: +(55 11) 2799-5807




12

More Related Content

What's hot

Britvic 2015 annual report
Britvic 2015 annual reportBritvic 2015 annual report
Britvic 2015 annual report
Rebecca Minter
 
Brmalls 3 q11_eng
Brmalls 3 q11_engBrmalls 3 q11_eng
Brmalls 3 q11_eng
BRMALLS
 
Britvic company evaluation
Britvic company evaluationBritvic company evaluation
Britvic company evaluation
jinsisi
 
monsanto 01-08-08
monsanto 01-08-08monsanto 01-08-08
monsanto 01-08-08
finance28
 
Analyst meet 21stfeb12
Analyst meet 21stfeb12Analyst meet 21stfeb12
Analyst meet 21stfeb12
washimsarkar
 
Tim Hortons 2012 Q2 Presentation
Tim Hortons 2012 Q2 PresentationTim Hortons 2012 Q2 Presentation
Tim Hortons 2012 Q2 Presentation
Company Spotlight
 
Non-Deal Roadshow'
Non-Deal Roadshow'Non-Deal Roadshow'
Non-Deal Roadshow'
CPFL RI
 
air products & chemicals 5 December 2007 Citi Basic Materials
air products & chemicals 5 December 2007 Citi Basic Materialsair products & chemicals 5 December 2007 Citi Basic Materials
air products & chemicals 5 December 2007 Citi Basic Materials
finance26
 
2012 9 month sales presentation
2012 9 month sales presentation2012 9 month sales presentation
2012 9 month sales presentation
Nestlé SA
 
Q2 2012 Printable Slides
Q2 2012 Printable SlidesQ2 2012 Printable Slides
Q2 2012 Printable Slides
Kellogg_Company
 
CAGNY 2006
CAGNY 2006CAGNY 2006
CAGNY 2006
finance23
 
Electrolux Presentation SEB Enskilda Capital Goods Seminar 2011
Electrolux Presentation SEB Enskilda Capital Goods Seminar 2011Electrolux Presentation SEB Enskilda Capital Goods Seminar 2011
Electrolux Presentation SEB Enskilda Capital Goods Seminar 2011
Electrolux Group
 
DF CAGNY 2007_Final
DF CAGNY 2007_FinalDF CAGNY 2007_Final
DF CAGNY 2007_Final
finance23
 
2Q 2008 EARNINGS SLIDESFINAL
2Q 2008 EARNINGS SLIDESFINAL2Q 2008 EARNINGS SLIDESFINAL
2Q 2008 EARNINGS SLIDESFINAL
finance22
 
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
federal mogul  9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentationfederal mogul  9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
finance33
 
P&G Second Quarter 2013 Presentation
P&G Second Quarter 2013 PresentationP&G Second Quarter 2013 Presentation
P&G Second Quarter 2013 Presentation
Company Spotlight
 

What's hot (16)

Britvic 2015 annual report
Britvic 2015 annual reportBritvic 2015 annual report
Britvic 2015 annual report
 
Brmalls 3 q11_eng
Brmalls 3 q11_engBrmalls 3 q11_eng
Brmalls 3 q11_eng
 
Britvic company evaluation
Britvic company evaluationBritvic company evaluation
Britvic company evaluation
 
monsanto 01-08-08
monsanto 01-08-08monsanto 01-08-08
monsanto 01-08-08
 
Analyst meet 21stfeb12
Analyst meet 21stfeb12Analyst meet 21stfeb12
Analyst meet 21stfeb12
 
Tim Hortons 2012 Q2 Presentation
Tim Hortons 2012 Q2 PresentationTim Hortons 2012 Q2 Presentation
Tim Hortons 2012 Q2 Presentation
 
Non-Deal Roadshow'
Non-Deal Roadshow'Non-Deal Roadshow'
Non-Deal Roadshow'
 
air products & chemicals 5 December 2007 Citi Basic Materials
air products & chemicals 5 December 2007 Citi Basic Materialsair products & chemicals 5 December 2007 Citi Basic Materials
air products & chemicals 5 December 2007 Citi Basic Materials
 
2012 9 month sales presentation
2012 9 month sales presentation2012 9 month sales presentation
2012 9 month sales presentation
 
Q2 2012 Printable Slides
Q2 2012 Printable SlidesQ2 2012 Printable Slides
Q2 2012 Printable Slides
 
CAGNY 2006
CAGNY 2006CAGNY 2006
CAGNY 2006
 
Electrolux Presentation SEB Enskilda Capital Goods Seminar 2011
Electrolux Presentation SEB Enskilda Capital Goods Seminar 2011Electrolux Presentation SEB Enskilda Capital Goods Seminar 2011
Electrolux Presentation SEB Enskilda Capital Goods Seminar 2011
 
DF CAGNY 2007_Final
DF CAGNY 2007_FinalDF CAGNY 2007_Final
DF CAGNY 2007_Final
 
2Q 2008 EARNINGS SLIDESFINAL
2Q 2008 EARNINGS SLIDESFINAL2Q 2008 EARNINGS SLIDESFINAL
2Q 2008 EARNINGS SLIDESFINAL
 
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
federal mogul  9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentationfederal mogul  9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
federal mogul 9E16462A-2277-45CF-98D1-FD0F18782C97_Q408_Presentation
 
P&G Second Quarter 2013 Presentation
P&G Second Quarter 2013 PresentationP&G Second Quarter 2013 Presentation
P&G Second Quarter 2013 Presentation
 

Viewers also liked

Institutional presentation annual meeting
Institutional presentation annual meetingInstitutional presentation annual meeting
Institutional presentation annual meeting
vigor_ri
 
Fun with slideshare
Fun with slideshareFun with slideshare
Fun with slideshare
jkbashaw
 
Critical reflection powerpoint
Critical reflection powerpointCritical reflection powerpoint
Critical reflection powerpoint
jkbashaw
 
Apresentação de resultados q312 final en(1)
Apresentação de resultados q312 final en(1)Apresentação de resultados q312 final en(1)
Apresentação de resultados q312 final en(1)
vigor_ri
 
Android opersting system
Android opersting systemAndroid opersting system
Android opersting system
newtswati
 
Apresentação de resultados 1 q13 eng final
Apresentação de resultados 1 q13 eng finalApresentação de resultados 1 q13 eng final
Apresentação de resultados 1 q13 eng final
vigor_ri
 
Institutional presentation 080413 eng final impressão
Institutional presentation 080413 eng final impressãoInstitutional presentation 080413 eng final impressão
Institutional presentation 080413 eng final impressão
vigor_ri
 
Tener fé
Tener féTener fé
Tener fé
Promesas De Dios
 
Dogs
DogsDogs
Apresentação de resultados 4 q12 eng final v02
Apresentação de resultados 4 q12 eng final v02Apresentação de resultados 4 q12 eng final v02
Apresentação de resultados 4 q12 eng final v02
vigor_ri
 
Bsdk kinh te y te bao hiem y te
Bsdk kinh te y te bao hiem y teBsdk kinh te y te bao hiem y te
Bsdk kinh te y te bao hiem y te
Đức Đức
 
Spherical geom pp_-_needs_some_work
Spherical geom pp_-_needs_some_workSpherical geom pp_-_needs_some_work
Spherical geom pp_-_needs_some_work
wallb
 
Apresentação de resultados 2 t13 eng final
Apresentação de resultados 2 t13 eng finalApresentação de resultados 2 t13 eng final
Apresentação de resultados 2 t13 eng final
vigor_ri
 

Viewers also liked (14)

Institutional presentation annual meeting
Institutional presentation annual meetingInstitutional presentation annual meeting
Institutional presentation annual meeting
 
Fun with slideshare
Fun with slideshareFun with slideshare
Fun with slideshare
 
Critical reflection powerpoint
Critical reflection powerpointCritical reflection powerpoint
Critical reflection powerpoint
 
No Desistas
No DesistasNo Desistas
No Desistas
 
Apresentação de resultados q312 final en(1)
Apresentação de resultados q312 final en(1)Apresentação de resultados q312 final en(1)
Apresentação de resultados q312 final en(1)
 
Android opersting system
Android opersting systemAndroid opersting system
Android opersting system
 
Apresentação de resultados 1 q13 eng final
Apresentação de resultados 1 q13 eng finalApresentação de resultados 1 q13 eng final
Apresentação de resultados 1 q13 eng final
 
Institutional presentation 080413 eng final impressão
Institutional presentation 080413 eng final impressãoInstitutional presentation 080413 eng final impressão
Institutional presentation 080413 eng final impressão
 
Tener fé
Tener féTener fé
Tener fé
 
Dogs
DogsDogs
Dogs
 
Apresentação de resultados 4 q12 eng final v02
Apresentação de resultados 4 q12 eng final v02Apresentação de resultados 4 q12 eng final v02
Apresentação de resultados 4 q12 eng final v02
 
Bsdk kinh te y te bao hiem y te
Bsdk kinh te y te bao hiem y teBsdk kinh te y te bao hiem y te
Bsdk kinh te y te bao hiem y te
 
Spherical geom pp_-_needs_some_work
Spherical geom pp_-_needs_some_workSpherical geom pp_-_needs_some_work
Spherical geom pp_-_needs_some_work
 
Apresentação de resultados 2 t13 eng final
Apresentação de resultados 2 t13 eng finalApresentação de resultados 2 t13 eng final
Apresentação de resultados 2 t13 eng final
 

Similar to Resultados 2 q12 final - inglês

BEGA CHEESE LTD. 2021-22 statements.pptx
BEGA CHEESE LTD. 2021-22 statements.pptxBEGA CHEESE LTD. 2021-22 statements.pptx
BEGA CHEESE LTD. 2021-22 statements.pptx
SEHDEV4
 
Camil Institutional Presentation Sep22.pptx
Camil Institutional Presentation Sep22.pptxCamil Institutional Presentation Sep22.pptx
Camil Institutional Presentation Sep22.pptx
CAMILRI
 
20221208 Camil Institutional Presentation.pptx
20221208 Camil Institutional Presentation.pptx20221208 Camil Institutional Presentation.pptx
20221208 Camil Institutional Presentation.pptx
CAMILRI
 
Camil Institutional Presentation Dez22.pptx
Camil Institutional Presentation Dez22.pptxCamil Institutional Presentation Dez22.pptx
Camil Institutional Presentation Dez22.pptx
CAMILRI
 
ConAgra Fiscal2008Q1_WrittenQA_Final
ConAgra Fiscal2008Q1_WrittenQA_FinalConAgra Fiscal2008Q1_WrittenQA_Final
ConAgra Fiscal2008Q1_WrittenQA_Final
finance21
 
Camil institutional presentation jan21
Camil institutional presentation jan21Camil institutional presentation jan21
Camil institutional presentation jan21
CAMILRI
 
20230404 Camil Institutional Presentation
20230404 Camil Institutional Presentation20230404 Camil Institutional Presentation
20230404 Camil Institutional Presentation
CAMILRI
 
20230403 Camil Institutional Presentation.pdf
20230403 Camil Institutional Presentation.pdf20230403 Camil Institutional Presentation.pdf
20230403 Camil Institutional Presentation.pdf
CAMILRI
 
ConAgra QAFY07Q1
ConAgra QAFY07Q1ConAgra QAFY07Q1
ConAgra QAFY07Q1
finance21
 
20230509 Camil Institutional Presentation May23.pdf
20230509 Camil Institutional Presentation May23.pdf20230509 Camil Institutional Presentation May23.pdf
20230509 Camil Institutional Presentation May23.pdf
CAMILRI
 
20230509 Camil Institutional Presentation May23
20230509 Camil Institutional Presentation May23 20230509 Camil Institutional Presentation May23
20230509 Camil Institutional Presentation May23
CAMILRI
 
Walgreen Co. Second Quarter 2008 Earnings
Walgreen Co. Second Quarter 2008 Earnings Walgreen Co. Second Quarter 2008 Earnings
Walgreen Co. Second Quarter 2008 Earnings
finance4
 
BRF S.A Anual Sales Report 2015
BRF S.A Anual Sales Report 2015BRF S.A Anual Sales Report 2015
BRF S.A Anual Sales Report 2015
BRF FOODS S.A BRAZIL
 
general mills 2006_AR
general mills  2006_ARgeneral mills  2006_AR
general mills 2006_AR
finance22
 
general mills 2006_AR
general mills  2006_ARgeneral mills  2006_AR
general mills 2006_AR
finance22
 
dean foods Harrald Kroeker Investor Day
dean foods Harrald Kroeker Investor Daydean foods Harrald Kroeker Investor Day
dean foods Harrald Kroeker Investor Day
finance23
 
Walgreen Co.Third Quarter 2008 Earnings Conference
Walgreen Co.Third Quarter 2008 Earnings ConferenceWalgreen Co.Third Quarter 2008 Earnings Conference
Walgreen Co.Third Quarter 2008 Earnings Conference
finance4
 
20230810 Camil Institutional Presentation_Aug23.pdf
20230810 Camil Institutional Presentation_Aug23.pdf20230810 Camil Institutional Presentation_Aug23.pdf
20230810 Camil Institutional Presentation_Aug23.pdf
CAMILRI
 
Camil Institutional Presentation June/2018
Camil Institutional Presentation June/2018Camil Institutional Presentation June/2018
Camil Institutional Presentation June/2018
CAMILRI
 
Investor Conference 2008
Investor Conference 2008Investor Conference 2008
Investor Conference 2008
finance7
 

Similar to Resultados 2 q12 final - inglês (20)

BEGA CHEESE LTD. 2021-22 statements.pptx
BEGA CHEESE LTD. 2021-22 statements.pptxBEGA CHEESE LTD. 2021-22 statements.pptx
BEGA CHEESE LTD. 2021-22 statements.pptx
 
Camil Institutional Presentation Sep22.pptx
Camil Institutional Presentation Sep22.pptxCamil Institutional Presentation Sep22.pptx
Camil Institutional Presentation Sep22.pptx
 
20221208 Camil Institutional Presentation.pptx
20221208 Camil Institutional Presentation.pptx20221208 Camil Institutional Presentation.pptx
20221208 Camil Institutional Presentation.pptx
 
Camil Institutional Presentation Dez22.pptx
Camil Institutional Presentation Dez22.pptxCamil Institutional Presentation Dez22.pptx
Camil Institutional Presentation Dez22.pptx
 
ConAgra Fiscal2008Q1_WrittenQA_Final
ConAgra Fiscal2008Q1_WrittenQA_FinalConAgra Fiscal2008Q1_WrittenQA_Final
ConAgra Fiscal2008Q1_WrittenQA_Final
 
Camil institutional presentation jan21
Camil institutional presentation jan21Camil institutional presentation jan21
Camil institutional presentation jan21
 
20230404 Camil Institutional Presentation
20230404 Camil Institutional Presentation20230404 Camil Institutional Presentation
20230404 Camil Institutional Presentation
 
20230403 Camil Institutional Presentation.pdf
20230403 Camil Institutional Presentation.pdf20230403 Camil Institutional Presentation.pdf
20230403 Camil Institutional Presentation.pdf
 
ConAgra QAFY07Q1
ConAgra QAFY07Q1ConAgra QAFY07Q1
ConAgra QAFY07Q1
 
20230509 Camil Institutional Presentation May23.pdf
20230509 Camil Institutional Presentation May23.pdf20230509 Camil Institutional Presentation May23.pdf
20230509 Camil Institutional Presentation May23.pdf
 
20230509 Camil Institutional Presentation May23
20230509 Camil Institutional Presentation May23 20230509 Camil Institutional Presentation May23
20230509 Camil Institutional Presentation May23
 
Walgreen Co. Second Quarter 2008 Earnings
Walgreen Co. Second Quarter 2008 Earnings Walgreen Co. Second Quarter 2008 Earnings
Walgreen Co. Second Quarter 2008 Earnings
 
BRF S.A Anual Sales Report 2015
BRF S.A Anual Sales Report 2015BRF S.A Anual Sales Report 2015
BRF S.A Anual Sales Report 2015
 
general mills 2006_AR
general mills  2006_ARgeneral mills  2006_AR
general mills 2006_AR
 
general mills 2006_AR
general mills  2006_ARgeneral mills  2006_AR
general mills 2006_AR
 
dean foods Harrald Kroeker Investor Day
dean foods Harrald Kroeker Investor Daydean foods Harrald Kroeker Investor Day
dean foods Harrald Kroeker Investor Day
 
Walgreen Co.Third Quarter 2008 Earnings Conference
Walgreen Co.Third Quarter 2008 Earnings ConferenceWalgreen Co.Third Quarter 2008 Earnings Conference
Walgreen Co.Third Quarter 2008 Earnings Conference
 
20230810 Camil Institutional Presentation_Aug23.pdf
20230810 Camil Institutional Presentation_Aug23.pdf20230810 Camil Institutional Presentation_Aug23.pdf
20230810 Camil Institutional Presentation_Aug23.pdf
 
Camil Institutional Presentation June/2018
Camil Institutional Presentation June/2018Camil Institutional Presentation June/2018
Camil Institutional Presentation June/2018
 
Investor Conference 2008
Investor Conference 2008Investor Conference 2008
Investor Conference 2008
 

More from vigor_ri

Apresentação de resultados 2 t13 final
Apresentação de resultados 2 t13 finalApresentação de resultados 2 t13 final
Apresentação de resultados 2 t13 final
vigor_ri
 
Institutional presentation 080413 ptg final impressão
Institutional presentation 080413 ptg final impressãoInstitutional presentation 080413 ptg final impressão
Institutional presentation 080413 ptg final impressão
vigor_ri
 
Apresentação de resultados 1 t13 pt final
Apresentação de resultados 1 t13 pt finalApresentação de resultados 1 t13 pt final
Apresentação de resultados 1 t13 pt final
vigor_ri
 
Apresentação de resultados 4 t12 pt final v02
Apresentação de resultados 4 t12 pt final v02Apresentação de resultados 4 t12 pt final v02
Apresentação de resultados 4 t12 pt final v02
vigor_ri
 
Apresentação de resultados 3 t12 final pt
Apresentação de resultados 3 t12 final ptApresentação de resultados 3 t12 final pt
Apresentação de resultados 3 t12 final pt
vigor_ri
 
Apresentação institucional reunião anual
Apresentação institucional reunião anualApresentação institucional reunião anual
Apresentação institucional reunião anual
vigor_ri
 
Resultados 2t12 v10
Resultados 2t12   v10Resultados 2t12   v10
Resultados 2t12 v10
vigor_ri
 
Laudo de Avaliação da Vigor
Laudo de Avaliação da VigorLaudo de Avaliação da Vigor
Laudo de Avaliação da Vigor
vigor_ri
 
Manual de conduta ética (portuguese only)
Manual de conduta ética (portuguese only)Manual de conduta ética (portuguese only)
Manual de conduta ética (portuguese only)
vigor_ri
 

More from vigor_ri (9)

Apresentação de resultados 2 t13 final
Apresentação de resultados 2 t13 finalApresentação de resultados 2 t13 final
Apresentação de resultados 2 t13 final
 
Institutional presentation 080413 ptg final impressão
Institutional presentation 080413 ptg final impressãoInstitutional presentation 080413 ptg final impressão
Institutional presentation 080413 ptg final impressão
 
Apresentação de resultados 1 t13 pt final
Apresentação de resultados 1 t13 pt finalApresentação de resultados 1 t13 pt final
Apresentação de resultados 1 t13 pt final
 
Apresentação de resultados 4 t12 pt final v02
Apresentação de resultados 4 t12 pt final v02Apresentação de resultados 4 t12 pt final v02
Apresentação de resultados 4 t12 pt final v02
 
Apresentação de resultados 3 t12 final pt
Apresentação de resultados 3 t12 final ptApresentação de resultados 3 t12 final pt
Apresentação de resultados 3 t12 final pt
 
Apresentação institucional reunião anual
Apresentação institucional reunião anualApresentação institucional reunião anual
Apresentação institucional reunião anual
 
Resultados 2t12 v10
Resultados 2t12   v10Resultados 2t12   v10
Resultados 2t12 v10
 
Laudo de Avaliação da Vigor
Laudo de Avaliação da VigorLaudo de Avaliação da Vigor
Laudo de Avaliação da Vigor
 
Manual de conduta ética (portuguese only)
Manual de conduta ética (portuguese only)Manual de conduta ética (portuguese only)
Manual de conduta ética (portuguese only)
 

Recently uploaded

Mandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your roleMandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your role
khidalgo2
 
9 Lessons From Jeff Bezos’ ONLY Podcast Appearance
9 Lessons From Jeff Bezos’ ONLY Podcast Appearance9 Lessons From Jeff Bezos’ ONLY Podcast Appearance
9 Lessons From Jeff Bezos’ ONLY Podcast Appearance
Levership
 
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Growth Buyouts - The  Dawn of the GBO (Slow Ventures)Growth Buyouts - The  Dawn of the GBO (Slow Ventures)
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Razin Mustafiz
 
STRATEGY TO OVERCOME CURRENT PROBLEMS AT MTC.pptx
STRATEGY TO OVERCOME CURRENT PROBLEMS AT MTC.pptxSTRATEGY TO OVERCOME CURRENT PROBLEMS AT MTC.pptx
STRATEGY TO OVERCOME CURRENT PROBLEMS AT MTC.pptx
ImranTabish1
 
Top Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdfTop Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdf
Top IT Marketing
 
Satta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatkaSatta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatka
➑➌➋➑➒➎➑➑➊➍
 
Cracking the Customer Experience Code.pptx
Cracking the Customer Experience Code.pptxCracking the Customer Experience Code.pptx
Cracking the Customer Experience Code.pptx
Workforce Group
 
Data Analytics and AI Strategy Toolkit, Playbook and Templates
Data Analytics and AI Strategy Toolkit, Playbook and TemplatesData Analytics and AI Strategy Toolkit, Playbook and Templates
Data Analytics and AI Strategy Toolkit, Playbook and Templates
Aurelien Domont, MBA
 
Corporate Governance for South African Mining Companies
Corporate Governance for South African Mining CompaniesCorporate Governance for South African Mining Companies
Corporate Governance for South African Mining Companies
James AH Campbell
 
Restaurant Chiraz Sindbad Hotel Hammamet
Restaurant Chiraz Sindbad Hotel HammametRestaurant Chiraz Sindbad Hotel Hammamet
Restaurant Chiraz Sindbad Hotel Hammamet
rihabkorbi24
 
Module 4 Business Strategy competitive advantages
Module 4 Business Strategy competitive advantagesModule 4 Business Strategy competitive advantages
Module 4 Business Strategy competitive advantages
Seta Wicaksana
 
The-Three-Pillars-of-Doctoral-Research-What-Why-and-How (1).pptx
The-Three-Pillars-of-Doctoral-Research-What-Why-and-How (1).pptxThe-Three-Pillars-of-Doctoral-Research-What-Why-and-How (1).pptx
The-Three-Pillars-of-Doctoral-Research-What-Why-and-How (1).pptx
Jindal Global University, Sonipat Haryana 131001
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
projectseasy
 
WAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdfWAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdf
Western Alaska Minerals Corp.
 
foodgasm restaurant and Bar pune road.docx
foodgasm restaurant and Bar pune road.docxfoodgasm restaurant and Bar pune road.docx
foodgasm restaurant and Bar pune road.docx
PraghyaBhandari
 
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Aggregage
 
How to buy a fake Keiser University diploma
How to buy a fake Keiser University diplomaHow to buy a fake Keiser University diploma
How to buy a fake Keiser University diploma
College diploma
 
MEA Union Budget 2024-25 Final Presentation
MEA Union Budget 2024-25 Final PresentationMEA Union Budget 2024-25 Final Presentation
MEA Union Budget 2024-25 Final Presentation
PhysicsUtu
 
شركات إبراهيم العرجاني: لدعم الاقتصاد المصري
شركات إبراهيم العرجاني: لدعم الاقتصاد المصريشركات إبراهيم العرجاني: لدعم الاقتصاد المصري
شركات إبراهيم العرجاني: لدعم الاقتصاد المصري
إبراهيم العرجاني
 
A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024
Dubiz
 

Recently uploaded (20)

Mandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your roleMandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your role
 
9 Lessons From Jeff Bezos’ ONLY Podcast Appearance
9 Lessons From Jeff Bezos’ ONLY Podcast Appearance9 Lessons From Jeff Bezos’ ONLY Podcast Appearance
9 Lessons From Jeff Bezos’ ONLY Podcast Appearance
 
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Growth Buyouts - The  Dawn of the GBO (Slow Ventures)Growth Buyouts - The  Dawn of the GBO (Slow Ventures)
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
 
STRATEGY TO OVERCOME CURRENT PROBLEMS AT MTC.pptx
STRATEGY TO OVERCOME CURRENT PROBLEMS AT MTC.pptxSTRATEGY TO OVERCOME CURRENT PROBLEMS AT MTC.pptx
STRATEGY TO OVERCOME CURRENT PROBLEMS AT MTC.pptx
 
Top Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdfTop Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdf
 
Satta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatkaSatta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatka
 
Cracking the Customer Experience Code.pptx
Cracking the Customer Experience Code.pptxCracking the Customer Experience Code.pptx
Cracking the Customer Experience Code.pptx
 
Data Analytics and AI Strategy Toolkit, Playbook and Templates
Data Analytics and AI Strategy Toolkit, Playbook and TemplatesData Analytics and AI Strategy Toolkit, Playbook and Templates
Data Analytics and AI Strategy Toolkit, Playbook and Templates
 
Corporate Governance for South African Mining Companies
Corporate Governance for South African Mining CompaniesCorporate Governance for South African Mining Companies
Corporate Governance for South African Mining Companies
 
Restaurant Chiraz Sindbad Hotel Hammamet
Restaurant Chiraz Sindbad Hotel HammametRestaurant Chiraz Sindbad Hotel Hammamet
Restaurant Chiraz Sindbad Hotel Hammamet
 
Module 4 Business Strategy competitive advantages
Module 4 Business Strategy competitive advantagesModule 4 Business Strategy competitive advantages
Module 4 Business Strategy competitive advantages
 
The-Three-Pillars-of-Doctoral-Research-What-Why-and-How (1).pptx
The-Three-Pillars-of-Doctoral-Research-What-Why-and-How (1).pptxThe-Three-Pillars-of-Doctoral-Research-What-Why-and-How (1).pptx
The-Three-Pillars-of-Doctoral-Research-What-Why-and-How (1).pptx
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
 
WAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdfWAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdf
 
foodgasm restaurant and Bar pune road.docx
foodgasm restaurant and Bar pune road.docxfoodgasm restaurant and Bar pune road.docx
foodgasm restaurant and Bar pune road.docx
 
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
 
How to buy a fake Keiser University diploma
How to buy a fake Keiser University diplomaHow to buy a fake Keiser University diploma
How to buy a fake Keiser University diploma
 
MEA Union Budget 2024-25 Final Presentation
MEA Union Budget 2024-25 Final PresentationMEA Union Budget 2024-25 Final Presentation
MEA Union Budget 2024-25 Final Presentation
 
شركات إبراهيم العرجاني: لدعم الاقتصاد المصري
شركات إبراهيم العرجاني: لدعم الاقتصاد المصريشركات إبراهيم العرجاني: لدعم الاقتصاد المصري
شركات إبراهيم العرجاني: لدعم الاقتصاد المصري
 
A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024
 

Resultados 2 q12 final - inglês

  • 1. Vigor Alimentos S.A. Earnings Release Q2’12 0
  • 2. Disclaimer This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Vigor Alimentos. These are merely projections and, as such, are based exclusively on the expectations of Vigor’s management concerning the future of the business and its continued access to capital to fund the Company’s business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Brazilian economy and the industry, among other factors and risks disclosed in Vigor’s filed disclosure documents and are, therefore, subject to change without prior notice. 1 1
  • 3. Agenda  Summary  Vigor Alimentos  Results  What we have done and our next steps  Our Vision 2
  • 4. Highlights EBITDA in 1H12 is equivalent to full FY 2011 EBITDA  R$18.6 million in 2Q12, +125% yoy  R$43.4 million in 1H12 +148% yoy Net Revenue  R$324.2 million in 2Q12 (+9.8%) yoy  +9.0% yoy in 1H12 to R$638.4 million  Better mix with reduction in UHT milk participation (-23.2%yoy) and growth of Cheese and Requeijões (+16.5%) and Spreads (+25.3%) categories  Diversified product porfolio and presence in 2 segments show the resilience of business model  Consumer (+6.4%) and Food (+21.8%) vs. Nielsen Consumer Basket1(+0.4%) vs. Perishable Basket (-0.5%) 1 Volume, value and price variation – LTM ended April 2012 – Total Brazil, basis: 137 product categories – Total Brazil Source: Nielsen | Retail Index 3
  • 5. Highlights EBITDA in 1H12 is equivalent to full FY 2011 Volume  +12.3% yoy in Q2’12 yoy (net of UHT milk)  +12,6% in 1H12 yoy (net of UHT milk) Gross Margin  Gross Profit +26.0% in Q2’12 yoy to R$92,1 million (Gross Margin +3.7 p.p. to 28.4%)  +21.8% in 1H12 yoy to R$182.4 million (Gross Margin +3.0 p.p. to 28.4%) Cash Generation  Cash Flow from Operations1 in 1H12 (R$ 28.4 million) was higher than Capex  Adjusted Net Debt 2 in june, 30 2012 amounted R$10.9 million Notes: 1. Includes interests from Refis (tax installments) of R$9.5 million 2. Includes the net result from the FX swap (R$31.6 million) hedge USD denominated debt 4
  • 6. Our product categories Diversified product categories with high Net Revenue – 1H12 value-added products Total: R$ 638.4 million Yogurts High Margins (%); Seasonality in Q3 and Q4; Focus in innovation and product launching Creams and others Yogurts 13% 22% Cheese and Requeijões UHT Milk Leader brands in categories; 8% High Margins in R$; Spreads Cheese and Spreads Requeijões High household penetration level; 28% 26% Helps diversify the cost matrix; Possible to add “brand” equity UHT Milk Low volume; Margin under severe discipline Creams and Others Focus on Food Service segment; 5
  • 7. ...underpinned by our brands and market segments Reference brands on the consumer segment, and leadership in Food Service Consumo Food Service B/C A/B/C A/B A/B A/B Business to Segmentation Regional National Brand National Brand National Brand National Brand Business Brand Main produtos Yogurt / UHT milk Non-sweet Pastry and Cheese / Parmesan Special Cheese Butter products basic Dessert cheese cheese spread Chocolate ingredients milk 6
  • 8. Performance + 9.8% yoy Revenue growth mirros the change in product mix to more value-added products Volume sold net of UHT Volume Sold (Ton) Net Revenue (R$ ‘000) 90,126 181,556 75,049 12,3% 638,409 324,233 1.5% 9.8.% 9.0% 66,803 3.5% 585,694 2T11 2T12 87,111 178,940 295,398 2Q11 2Q12 1H11 1H12 2Q11 2Q12 1H11 1H12 Volume Sold - tonnes 2Q11 2Q12 ∆% 1H11 1H12 ∆% Net revenues - R$ '000 2Q11 2Q12 ∆% 1H11 1H12 ∆% Yogurt 19,145 18,892 -1.3% 42,617 40,901 -4.0% Yogurt 63,621 67,069 5.4% 135,650 143,096 5.5% Cheese and Requeijões 5,664 6,397 12.9% 11,349 12,578 10.8% Cheese and Requeijões 73,599 85,720 16.5% 141,769 165,523 16.8% Spreads 28,414 35,684 25.6% 54,345 70,101 29.0% Spreads 81,863 102,556 25.3% 155,933 195,027 25.1% UHT Milk 20,307 15,077 -25.8% 44,068 29,628 -32.8% UHT Milk 33,409 25,665 -23.2% 70,147 49,696 -29.2% Creams and Others 13,581 14,077 3.7% 26,562 28,348 6.7% Creams and Others 42,907 43,223 0.7% 82,195 85,067 3.5% Total 87,111 90,126 3.5% 178,940 181,556 1.5% Total 295,398 324,233 9.8% 585,694 638,409 9.0% 7
  • 9. Performance EBITDA Margin growth reflects increase in Gross Margin Gross Profit (R$ ‘000); Gross Margin(%) EBITDA (R$ ‘000); EBITDA Margin(%) 21.8% 182,393 18,589 43.442 92,056 168.8% 26% 124.5% 28.6% 28.4% 149,715 5.7% 6,8% 73,052 25.6% 8,280 17.741 24.7% Δ=3,0p.p 2.8% Δ=3,7p.p Δ=2,9p.p 3,0% Δ=3,8p.p 2Q11 2Q12 1H11 1H12 2Q11 2Q12 1H11 1H12 Gross Profit - R$ '000 2Q11 2Q12 ∆% 1H11 1H12 ∆%  Increase in EBITDA Margin of 3.8p.p. (6M12) Yogurt 23,584 28,250 19.8% 50,902 61,230 20.3%  +3,0 p.p. Gross Margin Cheese and Requeijões 18,538 20,592 11.1% 36,485 38,575 5.7%  +0.8 p.p. SG&A Spreads 11,313 19,806 75.1% 22,207 37,056 66.9% UHT Milk 3,831 5,444 42.1% 8,874 9,740 9.8% Creams and Others 15,787 17,964 13.8% 31,247 35,791 14.5% Total 73,053 92,056 26.0% 149,715 182,393 21.8% 8
  • 10. Cash Generation and Leverage Cash Flow from Operations1 supported Capex Cash Flow in 1H12 – R$ Million Net Debt (06/30/2012) – R$ Million 28.4 28.0 31.6 110.2 203.8 254.4 321.7 211.9 211.9 50.6 10.9 2 Cash Dez/11 Cash flow Capex Cash flow Cash Jun/12 Short Term Long Term Total Debt Swap Cash Adjusted 3 from used in Net Debt operations financing Line Average Rate Due to Balance BNDES 11.44% 16/11/12 42,0 FCO 10% 02/05/14 1,6 Finame 8,7% 15/07/16 1,3 BOND 4 FX + 10,25% 24/08/12 209,4 Total Debt 254,4 1.Includes interests from Refis (tax installments) of R$ 9.5 million 2.Net result from the FX swap to hedge the USD denominated debt [Notes 2017 (U.S.$ 100,000,000 9.25% Step-up Notes due 2017)] 3. Includes the net result from the FX Swap to hedge the USD denominated debt (R$31.6 million) 4. Debt denominated in USD with swap to hedge FX variation 9
  • 11. What we have done, and our next steps Iniciatives already implemented… …and thers to come • Innovation and new product launching • Shutdown of product lines not aligned with Strengthening of key • New media campaign Company’s strategy brands • New marketing communication aligned with new product positioning and pricing • Increase of innovation in our portfolio • Beginning of our geographic expansion to raise our Growth of distribution • Review of our go-to-market model presence in areas close to our core market network • Merchandising with dedicated team • Continue to insulate São Paulo market Excellence in • Meritocracy in management, with systematic KPI’s tracking Management and • Keep investing in our people’s development; • With relevant know-how and external experience Corporate • People , and Finance and Risk Committees; • Majority of Board of Directors members are independent Governance • Product-specific Factories State of art in • Capex in high potential growth categories • Quality Certification guaranteed in every factory; Production processes • Milk producers fidelity program 10
  • 12. Our Vision Big food Company, one of the biggest dairy companies in Brazil • Development of innovation according to seasonal waves Categories and Segments • Further development of Food Service segment • Improve our presence in markets close to core market (SP) Geographic expansion • Lower the company’s dependence of São Paulo market; • Increase in productive capacity, with investments c.R$500 miilion in the Investment Plan next years; EBITDA Margin • Continuously increase in margins to surpass historic levels • Increase stock liquidity Capital Structure • Reduction of cost of capital • Return on Invested Capital tor shareholders Policy 11
  • 13. THANK YOU! Our Contact Details Web: www.vigor.com.br/ir E-mail: ri@vigor.com.br Tel.: +(55 11) 2799-5807 12