2014 second quarter earnings announcement august … · pricing sales mix cost savings volume cogs...
TRANSCRIPT
2014 SECOND QUARTER EARNINGS ANNOUNCEMENT
AUGUST 6, 2014
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Premium Lights
3
Coors Light• Summer Brew• New look
Miller Lite
• Original Can success
• Aluminum Pint makeover
• New heritage bottles
Premium Regular
4
Winning in Above Premium
5
Above Premium Innovations
6
Above Premium- Tenth and Blake
7
Economy
8
Winning in the On-Premise
2
• “Building With Beer”
• Increased spending behind big
brands
• Innovations
• Recommend that retailers hold
the line on draft pricing
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Pricing
Sales Mix
Cost Savings
Volume
COGS
MSG&A
Q2 2013 Q2 2014
Second Quarter Underlying Net Income
Increased 8.0 Percent
$445.7M$412.7M
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Domestic Net Revenue Per Barrel
A result of favorable net pricing and brand mix
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% C
ha
ng
e v
s. P
Y
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014
% Change vs. Prior Year
3.3%3.1%4.1%2.6%4.0% 3.6%
Second Quarter Performance Results
Profit
8.0%
STR
Volume
1.2%
Net Sales
$445.7M $2.207B
12
STW
Volume
1.7%
2.2%
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• Total cost of goods sold (COGS) per barrel increased 1.9 percent.
• Marketing General and Administrative costs increased 0.6 percent.
• Depreciation and amortization expenses were $77.4 million and additions to tangible and intangible assets totaled $70.0 million.
MillerCoors Second Quarter 2014
Financial Highlights
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