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LAT Country Overview: Colombia
June 2011
VENEZUELA PROFILE
Version: 2015
Submitted by: FP&A
1
Social/Economic/Political Overview
Venezuela
2
Enviroment
Venezuela
• Socialist Government based
on President Popularity.
• Unemployment Rate 5,5%.
• Taxe Rate 12%.
Other Comments
• Focus on Socialism Environment.
• Local Market Officially Closed (through SENCOEX).
• Industry has been impacted in 2015 mainly by lack of US$ dollar to buy RM and consequently RM
inventory management is imperative to keep the plants running.
• Member of OPEP.
• GDP impacted in 2015 by Oil Price.
• Venezuela as part of Mercosur.
• Personal Security as issue.
Economic Profile
• Population: 30,2mill.
• GDP per capita: $17.501.
• GDP growth: -4,2%.
• Inflation Rate = 68,5%.
• Exchange Rate = 12.
The Organization
3
Juan Vargas
Manufacturing
Douglas Maroeli
Finance
Eladio Rey
Sales
Maria E Rojas
Human Resources
Gabriel Lopez
Supply Chain
Gloria Elena
Legal
Ralf Marx
Operations
Maryann Vasconez
IT
Antonio Palmieri
Purchasing
Venezuela
Key Financials
4
Venezuela
Tire Industry
5
Venezuela
Goodyear Market Share
AOP
3,0%
6
Venezuela
Goodyear Business Profile
7
Venezuela
terms: $ millions 2014 % of terms: $ millions Con Repl Con OE Comm Repl Comm OE All Other Total Total %
Revenue Total BENCO 46,9 0,0 41,6 0,0 0,0 88,6 30%
Consumer Repl 146,5 50,0% PUENTE BOLIVAR-MORANA 17,4 0,0 21,0 0,0 0,4 38,9 13%
Consumer OE 1,9 0,6% MAKRO 16,5 0,0 6,2 0,0 0,0 22,7 8%
Commerical Repl 140,8 48,0% CALAR 6,0 0,0 14,4 0,0 0,0 20,4 7%
Commercial OE 2,6 0,9% COVENCAUCHO 2,8 0,0 14,6 0,0 0,2 17,5 6%
Farm 0 0,0% VENECAUCHOS 5,0 0,0 5,5 0,0 0,0 10,5 4%
OTR 0 0,0% CAUCHOS EL TERMINAL 6,3 0,0 4,1 0,0 0,0 10,4 4%
Aviation 0 0,0% MARTINEZ ARENAS/FARIAS 5,2 0,0 4,7 0,0 0,0 9,9 3%
Retail 0 0,0% CUATRICENTENARIA 4,8 0,0 4,9 0,0 0,0 9,7 3%
Retread 0 0,0% DICAINCA 4,4 0,0 4,8 0,0 0,0 9,2 3%
Motorcycle 0 0,0% MADECA 4,0 0,0 2,4 0,0 0,0 6,3 2%
Race 0 0,0% CAUCHOS AVENIDA 1,6 0,0 1,6 0,0 0,0 3,2 1%
All Other 1,5 0,5% GRUPO LA FRIA 1,4 0,0 1,2 0,0 0,0 2,5 1%
Total 293,3 100% RENOGUAICA 1,3 0,0 0,9 0,0 0,0 2,2 1%
UNICAUCHOS 1,2 0,0 0,6 0,0 0,0 1,9 1%
CODAZZI 0,9 0,0 0,7 0,0 0,0 1,7 1%
LA URBINA 1,1 0,0 0,5 0,0 0,0 1,7 1%
Consumer Commercial COLONCITO 1,0 0,0 0,6 0,0 0,0 1,6 1%
Goodyear 31,3% 58,0% VENIRAUTO INDUSTRIAS 0,0 1,1 0,0 0,0 0,4 1,5 1%
Dunlop 0,0% 0,0% SERV.TEC. CAUCHOS DIAMANTE 0,8 0,0 0,6 0,0 0,0 1,4 0%
Kelly 6,3% 0,0% Subtotal 128,8 1,1 131,1 0,0 0,9 261,9 89%
Sava 0,0% 0,0% Others 17,7 0,8 9,7 2,6 0,6 31,4 11%
Fulda 0,0% 0,0% Total 146,5 1,9 140,8 2,6 1,5 293,3 100%
Total Branded 37,6% 58,0%
All Other 0,0% 0,0% # of Points of
Total 37,6% 58,0% Distribution
2014 Revenue: By PBU 2014 Revenue By Top 20 Customers
2014 Market Share
Replacement
290 290
The Competition
8
Venezuela
# Factories
Con Repl MRT Repl in country
Essence of Consumer Strategy:
Focus in TMS (HP & LTR)
Essence of Commercial Strategy:
Work with the government to achieve import licenses and work with fleet network
Essence of Consumer Strategy:
Focus on HVA: UHP, HP and SUV tires
Essence of Commercial Strategy:
Good availability by licenses to import
Essence of Consumer Strategy:
Focus on HP (including Speed "V") and LTR tires
Essence of Commercial Strategy:
Lack of products availability due the imports licenses
Essence of Consumer Strategy:
-
Essence of Commercial Strategy:
Lack of products availability due the imports licenses
Essence of Consumer Strategy:
-
Essence of Commercial Strategy:
-
Essence of Consumer Strategy:
Using competitors dealer network
Essence of Commercial Strategy:
Lack of products availability due the imports licenses
Total 100% 100%
GY Position #1 #2
2014 Market Share
Michelin 0% 0%
0
0
Goodyear 38% 45%
1
1
Pirelli 35% 51%
1
1
All Others 1% 2%
0
0
Other key? 0% 0%
0
0
Bridgestone 26% 3%
1
1
Detailed Financials
9
Venezuela
terms: $ millions Actual Actual Actual Actual AOP
2011 2012 2013 2014 2015
Revenue 340,8 402,0 425,1 293,3 377,8
Gross Profit 111,0 119,7 116,4 70,5 82,5
Gross Profit % 32,6% 29,8% 27,4% 24,0% 21,8%
Advertising 0,5 0,5 1,0 0,3 3,6
% of Sales 0,1% 0,1% 0,2% 0,1% 1,0%
Other SaG 22,7 34,6 32,1 23,4 17,5
% of Sales 6,6% 8,6% 7,6% 8,0% 4,6%
Total SAG 23,1 35,1 33,1 23,7 21,1
% of Sales 6,8% 8,7% 7,8% 8,1% 5,6%
EBIT 87,9 84,5 83,2 46,8 61,4
% of Sales 25,8% 21,0% 19,6% 16,0% 16,3%
Depreciation 4,2 4,3 5,3 7,5 5,0
EBITDA 92,1 88,8 88,5 54,2 66,4
Accounts Receivable 13,1 11,9 19,3 6,0 13,0
% of Sales 3,8% 3,0% 4,5% 2,0% 3,4%
Inventory 69,8 104,3 34,5 33,4 27,7
% of Sales 20,5% 26,0% 8,1% 11,4% 7,3%
Accounts Payable 49,2 62,8 60,4 47,2 51,0
% of Sales 14,4% 15,6% 14,2% 16,1% 13,5%
Total Working Capital 33,7 53,5 -6,6 -7,9 -10,3
% of Sales 9,9% 13,3% -1,6% -2,7% -2,7%
Free Cash Flow 53,8 25,8 163,4 4,8 52,6

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Venezuela Profile 2015.pptToi can thong tin file

  • 1. LAT Country Overview: Colombia June 2011 VENEZUELA PROFILE Version: 2015 Submitted by: FP&A 1
  • 2. Social/Economic/Political Overview Venezuela 2 Enviroment Venezuela • Socialist Government based on President Popularity. • Unemployment Rate 5,5%. • Taxe Rate 12%. Other Comments • Focus on Socialism Environment. • Local Market Officially Closed (through SENCOEX). • Industry has been impacted in 2015 mainly by lack of US$ dollar to buy RM and consequently RM inventory management is imperative to keep the plants running. • Member of OPEP. • GDP impacted in 2015 by Oil Price. • Venezuela as part of Mercosur. • Personal Security as issue. Economic Profile • Population: 30,2mill. • GDP per capita: $17.501. • GDP growth: -4,2%. • Inflation Rate = 68,5%. • Exchange Rate = 12.
  • 3. The Organization 3 Juan Vargas Manufacturing Douglas Maroeli Finance Eladio Rey Sales Maria E Rojas Human Resources Gabriel Lopez Supply Chain Gloria Elena Legal Ralf Marx Operations Maryann Vasconez IT Antonio Palmieri Purchasing Venezuela
  • 7. Goodyear Business Profile 7 Venezuela terms: $ millions 2014 % of terms: $ millions Con Repl Con OE Comm Repl Comm OE All Other Total Total % Revenue Total BENCO 46,9 0,0 41,6 0,0 0,0 88,6 30% Consumer Repl 146,5 50,0% PUENTE BOLIVAR-MORANA 17,4 0,0 21,0 0,0 0,4 38,9 13% Consumer OE 1,9 0,6% MAKRO 16,5 0,0 6,2 0,0 0,0 22,7 8% Commerical Repl 140,8 48,0% CALAR 6,0 0,0 14,4 0,0 0,0 20,4 7% Commercial OE 2,6 0,9% COVENCAUCHO 2,8 0,0 14,6 0,0 0,2 17,5 6% Farm 0 0,0% VENECAUCHOS 5,0 0,0 5,5 0,0 0,0 10,5 4% OTR 0 0,0% CAUCHOS EL TERMINAL 6,3 0,0 4,1 0,0 0,0 10,4 4% Aviation 0 0,0% MARTINEZ ARENAS/FARIAS 5,2 0,0 4,7 0,0 0,0 9,9 3% Retail 0 0,0% CUATRICENTENARIA 4,8 0,0 4,9 0,0 0,0 9,7 3% Retread 0 0,0% DICAINCA 4,4 0,0 4,8 0,0 0,0 9,2 3% Motorcycle 0 0,0% MADECA 4,0 0,0 2,4 0,0 0,0 6,3 2% Race 0 0,0% CAUCHOS AVENIDA 1,6 0,0 1,6 0,0 0,0 3,2 1% All Other 1,5 0,5% GRUPO LA FRIA 1,4 0,0 1,2 0,0 0,0 2,5 1% Total 293,3 100% RENOGUAICA 1,3 0,0 0,9 0,0 0,0 2,2 1% UNICAUCHOS 1,2 0,0 0,6 0,0 0,0 1,9 1% CODAZZI 0,9 0,0 0,7 0,0 0,0 1,7 1% LA URBINA 1,1 0,0 0,5 0,0 0,0 1,7 1% Consumer Commercial COLONCITO 1,0 0,0 0,6 0,0 0,0 1,6 1% Goodyear 31,3% 58,0% VENIRAUTO INDUSTRIAS 0,0 1,1 0,0 0,0 0,4 1,5 1% Dunlop 0,0% 0,0% SERV.TEC. CAUCHOS DIAMANTE 0,8 0,0 0,6 0,0 0,0 1,4 0% Kelly 6,3% 0,0% Subtotal 128,8 1,1 131,1 0,0 0,9 261,9 89% Sava 0,0% 0,0% Others 17,7 0,8 9,7 2,6 0,6 31,4 11% Fulda 0,0% 0,0% Total 146,5 1,9 140,8 2,6 1,5 293,3 100% Total Branded 37,6% 58,0% All Other 0,0% 0,0% # of Points of Total 37,6% 58,0% Distribution 2014 Revenue: By PBU 2014 Revenue By Top 20 Customers 2014 Market Share Replacement 290 290
  • 8. The Competition 8 Venezuela # Factories Con Repl MRT Repl in country Essence of Consumer Strategy: Focus in TMS (HP & LTR) Essence of Commercial Strategy: Work with the government to achieve import licenses and work with fleet network Essence of Consumer Strategy: Focus on HVA: UHP, HP and SUV tires Essence of Commercial Strategy: Good availability by licenses to import Essence of Consumer Strategy: Focus on HP (including Speed "V") and LTR tires Essence of Commercial Strategy: Lack of products availability due the imports licenses Essence of Consumer Strategy: - Essence of Commercial Strategy: Lack of products availability due the imports licenses Essence of Consumer Strategy: - Essence of Commercial Strategy: - Essence of Consumer Strategy: Using competitors dealer network Essence of Commercial Strategy: Lack of products availability due the imports licenses Total 100% 100% GY Position #1 #2 2014 Market Share Michelin 0% 0% 0 0 Goodyear 38% 45% 1 1 Pirelli 35% 51% 1 1 All Others 1% 2% 0 0 Other key? 0% 0% 0 0 Bridgestone 26% 3% 1 1
  • 9. Detailed Financials 9 Venezuela terms: $ millions Actual Actual Actual Actual AOP 2011 2012 2013 2014 2015 Revenue 340,8 402,0 425,1 293,3 377,8 Gross Profit 111,0 119,7 116,4 70,5 82,5 Gross Profit % 32,6% 29,8% 27,4% 24,0% 21,8% Advertising 0,5 0,5 1,0 0,3 3,6 % of Sales 0,1% 0,1% 0,2% 0,1% 1,0% Other SaG 22,7 34,6 32,1 23,4 17,5 % of Sales 6,6% 8,6% 7,6% 8,0% 4,6% Total SAG 23,1 35,1 33,1 23,7 21,1 % of Sales 6,8% 8,7% 7,8% 8,1% 5,6% EBIT 87,9 84,5 83,2 46,8 61,4 % of Sales 25,8% 21,0% 19,6% 16,0% 16,3% Depreciation 4,2 4,3 5,3 7,5 5,0 EBITDA 92,1 88,8 88,5 54,2 66,4 Accounts Receivable 13,1 11,9 19,3 6,0 13,0 % of Sales 3,8% 3,0% 4,5% 2,0% 3,4% Inventory 69,8 104,3 34,5 33,4 27,7 % of Sales 20,5% 26,0% 8,1% 11,4% 7,3% Accounts Payable 49,2 62,8 60,4 47,2 51,0 % of Sales 14,4% 15,6% 14,2% 16,1% 13,5% Total Working Capital 33,7 53,5 -6,6 -7,9 -10,3 % of Sales 9,9% 13,3% -1,6% -2,7% -2,7% Free Cash Flow 53,8 25,8 163,4 4,8 52,6

Editor's Notes

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