ARCOS DORADOS June, 2013
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1 Agenda ARCOS DORADOS June, 2013
2 Disclaimer This presentation contains forward-looking statements that represent our beliefs, projections and predictions about future events or our future performance. Forward-looking statements can be identified by terminology such as may, will, would, could, should, expect, intend, plan, anticipate, believe, estimate, predict, potential, continue or the negative of these terms or other similar expressions or phrases. These forward-looking statements are necessarily subjective and involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements or industry results to differ materially from any future results, performance or achievement described in or implied by such statements. The forward-looking statements contained herein include statements about the Company s business prospects, its ability to attract customers, its affordable platform, its expectation for revenue generation and its outlook. These statements are subject to the general risks inherent in Arcos Dorados' business. These expectations may or may not be realized. Some of these expectations may be based upon assumptions or judgments that prove to be incorrect. In addition, Arcos Dorados' business and operations involve numerous risks and uncertainties, many of which are beyond the control of Arcos Dorados, which could result in Arcos Dorados' expectations not being realized or otherwise materially affect the financial condition, results of operations and cash flows of Arcos Dorados. Additional information relating to the uncertainties affecting Arcos Dorados' business is contained in its filings with the Securities and Exchange Commission. The forward-looking statements are made only as of the date hereof, and Arcos Dorados does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events. 1
3 Arcos Dorados: The Leading QSR Player in Latin America THE ASPIRATIONAL McDONALD S EXPERIENCE IN LATIN AMERICA WORLD S LARGEST McDONALD S FRANCHISEE BASED ON SYSTEMWIDE SALES AND NUMBER OF RESTAURANTS UNDISPUTED LEADER IN THE QSR INDUSTRY IN LATIN AMERICA SUBSTANTIAL GROWTH OPPORTUNITIES IN UNDERPENETRATED MARKETS SOLID MANAGEMENT TEAM WITH SUCCESSFUL TRACK RECORD 5.6% of McDonald s 2012 global sales 7.0% of McDonald s 2012 total franchised restaurants Over 90,000 employees 1,959 Restaurants 1,997 Dessert Centers 339 McCafés Large and growing QSR industry Surging middle class with preference for convenience and away-from-home eating New restaurant openings, reimagings and brand extensions to add value 20+ years average experience in the McDonald s system Solid performance in key financial metrics under current management 2
4 We Operate and Sub-franchise Restaurants Operator business model COMPANY OPERATED RESTAURANTS Revenues from Restaurant Sales - Royalty Fee - Costs related to running the business Operating Results SUB FRANCHISED RESTAURANTS Revenues from Rental Income - Rental Fee (related to real estate) Profitability of Sub-franchised Restaurants 75% Operated Sub- Franchised 25% *Royalty Payments = collected and paid to McDonald s Corporation Arcos Dorados is an Operator 3
5 Unmatched Footprint in the Region Unique platform with geographic diversification Mexico NOLAD Costa Rica, Mexico, Panama Colombia CARIBBEAN Aruba, Colombia, Curaçao, French Guyana, Guadeloupe, Martinique, Puerto Rico, St. Croix, St. Thomas, Trinidad & Tobago, Venezuela Brazil BRAZIL NUMBER OF RESTAURANTS 1 SLAD Argentina, Chile, Ecuador, Peru, Uruguay Argentina Brazil NOLAD SLAD Caribbean % 26% 19% 18% 1, % 1 Restaurants in Arcos Dorados territories as of March 31, 2013; does not include McCafé units & Dessert Centers 4
6 Investment Highlights RIGHT BRAND RIGHT ZIP CODE RIGHT INDUSTRY RIGHT STRATEGY EXPERIENCED MANAGEMENT TEAM Dominant position in Latin America Brand Aggressive product intros Surging middle class favoring convenience and away-from-home eating Large and growing QSR market Underpenetration allows for ample opportunity Emerging market growth remains healthy Market savvy Product platform, pricing, promotions Strong development pipeline Proven track record of delivering growth and profitability 20+ years average experience in the region 5
7 Superior Brand Recognition and Leadership Position Dominant QSR brand in the region MAJOR FAST FOOD RESTAURANTS IN LATIN AMERICA: 2011 MARKET SHARE (Sales) 2 # Units 1 1,959 Mac 9.9% 1,124 Burgerking 3.1% 3.2x 2,505 Subway 2,5% 314 Habbs 1.6% Combined market share: 9.7% 10,715 oxxo 1.3% 832 Bobs 1,2% 1 Restaurants in Arcos Dorados territories as of March 31, Euromonitor International 6
8 MACROECONOMIC DRIVERS 7
9 Our Region: Rapidly Growing Middle Class Prefers Convenience of Eating Out Latin America: Attractive consumer market complements brand attributes GDP per capita (PPP) growth E CAGR (%) 6.3% 4.5% 5.1% 5.1% 2.5% Argentina Brazil Colombia Chile Mexico Young and Growing Population % of Population between years old (2010) 34,5% 32,6% 34,6% 34,3% 27,4% Brazil Argentina Mexico Colombia US Source: IMF, CEPAL, UNECE, DANE, FGV, IBGE and the Brazilian Ministry of Finance 8
10 R$ % Brazil: Increase in minimum wage A consumption driver Real & Nominal Minimum Wage Increases Real Minimum Wage (R$) Nominal Minimum Wage Increase (%, right axis) % 14% % Changing socio-economic profile in Brazil MM individuals and % of population 13 (7%) 66 (38%) 96 (55%) ~39.5mm 106 (55%) 64 (33%) 96 (55%) 22 (12%) Source: IBGE and the Brazilian Ministry of Finance Class D/E Class C Class A/B 9
11 Large & Growing Fast Food Industry Other Fast Food 42% Middle Eastern 2% Latin American F. Food 5% Fast Food Industry Latam Fast Food Chicken 8% Burger 18% Bakery 24% Potential Growth Fast Food growth outpaced other categories in the region Latam fast food sales: $47 bn Latam Key Categories sales: $27 bn Source: Euromonitor International October 2012 (2011 figures) 10
12 Strategic Initiatives Key vectors: A focus on driving value Comparable Sales Growth New Unit Development Margin Management G&A Leverage EBITDA-to-Net Income Yield 11
13 Growth Driver: Comparable Sales Delivering relevant and value-oriented menus, while leveraging the local and global reach of the brand Product Price Strategy Promotion CORE MENU GRANDES PLACERES, PEQUEÑOS PRECIOS GLOBAL INITIATIVES PREMIUM PRODUCTS MCTRIO / MCCOMBO DEL DÍA LOCAL PROMOTIONS 12
14 Substantial Opportunity for New Restaurant Openings Balanced Portfolio Accelerating new openings in the region Gross Openings North Northeast 58 Midwest Southeast South E Stock of Restaurants (End of period) 1,680 1,755 1,840 1,948 Actual Portfolio Market Potential 13
15 US$ Million US$ Million Regional Organic Growth US$: As reported % growth: Organic basis* Revenues Adjusted EBITDA US$: As reported % growth: Organic basis* % 20.5% 13.9% 7.0% Brazil NOLAD SLAD Caribbean 1Q12 1Q % 9.8% 1.4% 51.7% Brazil NOLAD SLAD Caribbean 1Q12 1Q13 Consolidated 1Q13 Revenues: +15.7% Consolidated 1Q13 Adjusted EBITDA: +1.7% *Excludes currency translations and special items 14
16 1Q13 Balance Sheet & Leverage Metrics Healthy Balance Sheet ($ millions) 1Q13 FY12 Cash & cash equivalents Total Financial Debt (i) Net Financial Debt (ii) Total Financial Debt / LTM Adj. EBITDA Net Financial Debt / LTM Adj. EBITDA (i) Total financial debt includes short-term debt, long-term debt and derivative instruments (including the asset portion of derivatives amounting to $1.6 million as a reduction of financial debt) (ii) Total financial debt less cash and cash equivalents 15
17 Experienced Management Team Unmatched Track Record in the Industry 20+ average years experience in the McDonald s system Management Team President & CEO W. Staton 27 years in the Company VP COO S. Alonso VP CFO G. Lemonnier VP Marketing R. Mandía VP Supply Chain H. Sbrolla VP Development S. Magnasco 20 years in the Company 20 years in the Company 22 years in the Company 25 years in the Company 19 years in the Company 16
18 Investment Summary Arcos Dorados is strategically positioned to capture an increasing share of a growing marketplace Right Brand Right Zip Code Right Industry Right Strategy Experienced Management Team 17
19 For additional information: Sofia Chellew Investor Relations (+5411)
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