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C&C 2014 AGM Presentation

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C&C 2014 AGM Presentation AGM 3 July, 2014 C&C Group AGM | Slide 2 Operating Profit Growth Net Debt Reduction 130 €m 300 €m 120 110 250 100 200 90 80 150 70 60 100 FY '08 FY '09 FY '10 FY '11 FY '12 FY '13 FY '14 FY '08 FY '14 400 Rebased to 100 C&C Group and ISE Performance 1 Jan 2009 to 1 July 2014 350 300 250 200 150 100 50 0 Jan 09 Jul 09 Jan 10 Jul 10 Jan 11 Jul 11 Jan 12 Jul 12 Jan 13 Jul 13 Jan 14 Jul 14 C&C Group ISE Building a Brand Led Wholesaler Model - within resilient markets AGM | Slide 3 Ireland and Scotland Direct Route to Market Superior Customer Service Local Market Knowledge Strong Brand Portfolio Ireland & Scotland 74% of FY 2014 Op. profit 74% 16% increase on FY 2013 Ireland & Combine to provide strong and Scotland sustainable earnings & free cashflow FY 2014 Highlights - period in review AGM | Slide 4 Fifth consecutive year of delivering earnings growth Progress against all financial measures Business integration complete Capital spend in brewing facilities Balance sheet strength and cash flow characteristics to capitalise international growth and support a progressive dividend stream Strong Cash Generation Delivering Returns AGM | Slide 5 FY 2010 – FY 2014 (last 5 years) €m €493m FCF generated EBITDA 651 €121m returned via dividend Change in working capital 62 Advances to customers (36) €81m debt reduction Net capex (97) Net finance costs (28) Effective capital deployment Tax (40) has delivered Other (19) Free cash flow (before exceptionals) 493 EBITDA CAGR of 11% % of EBITDA 76% EBIT growth from €90m (FY10) Opening net debt 226 to €127m Closing net debt 145 International Growth Opportunity AGM | Slide 6 Export Markets (excluding USA) Exporting to 47 countries; export volumes +11% USA Quality, stable wholesaler network, new cidery, new packaging and commercial initiatives in place Re-based expectations of growth but market remains attractive and dynamic Corporate Social Responsibility AGM | Slide 7 Reduced total water usage despite increased production Trained 13,000 students at Tennent’s Training Academy Increased charitable activity - local and national charities supported in Ireland, UK and USA Increased commitment to responsible drinking agenda Continued support for minimum unit alcohol pricing Investment of £1 million in orchards in England Outlook AGM | Slide 8 “C&C believes that the fundamentals of its core markets and its position within those markets support continued earnings growth. For the current financial year, C&C remains on track to deliver its financial objective of mid- single digit operating profit growth.” www.candcgroupplc.com Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any shares or other securities of the Company. The presentation contains forward-looking statements, including statements about the Company's intentions, beliefs and expectations. These statements are based on the Company's current plans, estimates and projections, as well as the Company's expectations of external conditions and events. Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any such statements in light of new information or future events, except to the extent required by any applicable law or regulation. Recipients of this presentation are therefore cautioned that a number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. Your attention is drawn to the ‘Principal Risks and Uncertainties’ set out on pages 15 and 16 of the Company’s 2014 Full Year Announcement. The risks described, however, are not exhaustive and there may be other risks which may have an adverse effect on the business, financial condition, results or future prospects of the Company. Bulmers Ltd of Clonmel, Ireland, a company within the C&C Group, owns the trade mark BULMERS® in the Republic of Ireland. Bulmers Ltd is not connected with HP Bulmer Ltd of Hereford, UK. BULMERS ® Original Vintage Cider produced by Bulmers Ltd of Clonmel, Ireland is sold outside the Republic of Ireland under the name MAGNERS® Original Irish Cider. For further information see www.candcgroupplc.com .
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