百胜餐饮集团公司战略会议 PPT素材 28页

2019F
12
Yum! China: Significant Lead over Western QSR
Number of Restaurants 3,900
1,800
Numbers are approximate
13
And Growing Faster…
Forecasted 2019 New Units 475
4
Yum!: Truly Global
INT’L 22%
U.S. 78%
U.S.
35%
INT’L
65%
2019
2019F
Operating Profit Source
Note: Numbers are Approximate
5
Consistent Financial Performance
EPS Growth
1.1 Billion
China 450 Million
2019
Source: Euromonitor 2019
China 650 Million
2020F 17
Almost Half of YRI Profits from Emerging Market
2019F YRI Operating Profits
TRANSFORMING THE BUSINESS MODEL
Emerging Markets
High Return
Stronger Growth
Tim Jerzyk, SVP Investor Relations January 2019
Forward Looking Statements
This presentation will include forward-looking statements that reflect management’s expectations based on currently available data. However, actual results are subject to future events and uncertainties. The information in the presentation related to projections or other forward-looking statements which may cause actual results to differ materially are subject to the safe harbor statement posted on our Web site
Profit +15% +10% +6% Growth
+3%
11
Yum!: Truly Global
INT’L 22%
U.S. 78%
U.S. 35%
INT’L 65%
U.S. 25%
INT’L 75%
2019
Note: Numbers are Approximate
2019F Operating Profit Source
27
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Total Yum! Operating Profit
~$3 Bn
Emerging Markets
Developed Markets
$1.3 Bn 30%
2019
Numbers are Approximate.
$1.6 Bn
60%
46%
2009
2019F
25
Emerging Markets on the Ground Floor of Growth
Tier 1
15%
50 to 60
33%
Tier 2
New Cities
Each Year!
Tier 3 - 6
52%
2019
15
Yum! China: Outstanding Margins
China Restaurant Margin % Net Sales
22% 20%
Units
System Sales (Bn.)
Emerging Markets 40%
Developed Markets 60%
Top EM Profit Contributors
• Asia • South Africa • Middle East / North Africa • Caribbean / Latin America
Note: 2019F Operating Profits for YRI, does not include corporate and unallocated expense.
5 Year Average Total Shareholder Return 16%
1%
Yum! Brands
S&P 500
Source: Bloomberg
Note: Total Shareholder Return includes the split adjusted stock price appreciation plus dividends reinvested for the 5 year period
Yum! Units Per Million People 60
People
U.S. 0.3 Bn.
2.7
China 1+ Bn.
Source: World Monitor 2019, 2019F Yum! Traditional units
0.2
India 1+ Bn.
1.7
Rest of Top 10 1+ Bn.
15%
15%
14%
14%
14%
13% 13%
13%
13%
’02
’03
’04
’05
’06
’07
’08
’09 ’10 F
Note: Prior to special items and the initial impact of expensing stock options in 2019.
Reconciliation of Non-GAAP measurements to GAAP results found on yum.
ending September 30, 2019
8
Consistent Dividend Growth
$0.30
On September 14th 2019 19% increase
6th Annual Increase!
$0.25
$0.20 $0.15
Doubled
$0.10 Initiated $0.05
Significant Long-term Market Potential
21
Pioneering Africa
Over 1 Billion People
C-O-B Protein of Choice
44% South Africa Market Share
22
Phenomenal Sales Growth in Southeast Asia
$0.00
Note: Split-adjusted (May 2019 2-for-1 stock split) quarterly dividend.
9
Model Evolution to High Return Businesses
Number of World-wide Restaurants
6
Consistently Strong ROIC; Among Industry Leader
20.5%
19.9%
18.5%
18.4% 17.7%
18.0%
18.3%
18.9% 18.6%
'01 '02 '03 '04 '05 '06 '07 '08 '09
7
Yum! Has Generated Superior Shareholder Return
10 Years of New Unit Development
132
101
11 KFC China (1987 - 2019)
KFC India (2019 - 2019F)
20
Reaching Critical Mass in Russia
• Acquisition of KFC Rostiks complete…150 stores • Strong unit-level economics • Strong sales momentum • Building the team
26
Impressive Portfolio of Global Brands Consistent Financial Performance with High Returns
Unique International Growth Opportunity
Model evolving to stronger growth, high return
2
Powerful Global Portfolio of Brands
3
Yum! Strategies
Build Leading Brands in China in Every
Significant Category
Drive Aggressive International Expansion
2.7 Billion
1.6 Billion
+1.1 Billion
2019
2020
Source: Euromonitor data 2019; Consuming Class – Annual disposable income > $5,000.
24
Equity and Franchise Growth Driving Profits in Emerging Ma
18
Investing in Future Growth & Returns in Emerging Mar
Equity & Franchise
India Russia
Franchise
Africa Southeast Asia
19
India Development Path Similar to China
Numbers are approximate
'01 548 $0.7
'10 F 3,900 $4.9
16
Emerging Markets on the Ground Floor of Growth
Consuming Class Population
YRI EMERGING
2.0 Billion
YRI EMERGING
5-yr System Sales CAGR 2019-2019
54%
21%
Units
Indonesia
800
13%
Malaysia
780
Vietnam
102
23
Emerging Markets Will Add Over 1 Billion Potential Custo
Consuming Class Population 2019 to 2020
3,200
4,047
27,254
640 35,141
2000
China
YRI Other
Franchise
2019
Note: 2019 Units as of third quarter, excludes license units. Other includes U.S. Company and Franchise and YRI Company units.
400
Numbers are approximate
Sources: Wall Street Journal and company communications
14
KFC Development Reaches Deep into China
% of Total New Builds by Tier
10
Strong Global Portfolio Generates Double-Digit EPS Gro
On-going EPS Growth Model
~2% 13% +1% <1% +3% +7%
China
YRI Taco Bell Other CF- Modeled U.S. U.S. Driven Growth
and Build Strong Brands Everywhere
Dramatically Improve U.S. Brand Positions, CoΒιβλιοθήκη Baidusistency and Returns
Drive Industry-Leading, Long-Term Shareholder
and Franchisee Value