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OFFON

THE KRAFT HEINZ COMPANY

(KHC)
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Kraft Heinz : Q1 2021 Business Update

04/29/2021 | 07:12am EDT

Q1 2021 BUSINESS UPDATE

APRIL 29, 2021

FORWARD LOOKING STATEMENTS

Q1 2021 BUSINESS UPDATE

2

This presentation contains a number of forward-looking statements. Words such as "plan," "believe," "anticipate," "reflect," "invest," "see," "make," "expect," "deliver," "drive," "improve," "intend," "assess," "remain," "evaluate," "establish," "focus," "build," "turn," "expand," "leverage," "grow," "will," and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding the Company's plans, impacts of accounting standards and guidance, growth, legal matters, taxes, costs and cost savings, impairments, dividends, expectations, investments, innovations, opportunities, capabilities, execution, initiatives, and pipeline. These forward-looking statements reflect management's current expectations and are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond the Company's control.

Important factors that may affect the Company's business and operations and that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impacts of the COVID-19 pandemic and government and consumer responses; operating in a highly competitive industry; the Company's ability to correctly predict, identify, and interpret changes in consumer preferences and demand, to offer new products to meet those changes, and to respond to competitive innovation; changes in the retail landscape or the loss of key retail customers; changes in the Company's relationships with significant customers or suppliers, or in other business relationships; the Company's ability to maintain, extend, and expand its reputation and brand image; the Company's ability to leverage its brand value to compete against private label products; the Company's ability to drive revenue growth in its key product categories or platforms, increase its market share, or add products that are in faster-growing and more profitable categories; product recalls or other product liability claims; the Company's ability to identify, complete, or realize the benefits from strategic acquisitions, alliances, divestitures, joint ventures or other investments; the Company's ability to successfully execute its strategic initiatives; the impacts of the Company's international operations; the Company's ability to protect intellectual property rights; the Company's ownership structure; the Company's ability to realize the anticipated benefits from prior or future streamlining actions to reduce fixed costs, simplify or improve processes, and improve its competitiveness; the Company's level of indebtedness, as well as our ability to comply with covenants under our debt instruments; additional impairments of the carrying amounts of goodwill or other indefinite-lived intangible assets; foreign exchange rate fluctuations; volatility in commodity, energy, and other input costs; volatility in the market value of all or a portion of the commodity derivatives we use; compliance with laws, regulations, and related interpretations and related legal claims or other regulatory enforcement actions, including additional risks and uncertainties related to any potential actions resulting from the Securities and Exchange Commission's ("SEC") ongoing investigation, as well as potential additional subpoenas, litigation, and regulatory proceedings; failure to maintain an effective system of internal controls; a downgrade in the Company's credit rating; the impact of future sales of the Company's common stock in the public market; the Company's ability to continue to pay a regular dividend and the amounts of any such dividends; unanticipated business disruptions and natural events in the locations in which the Company or the Company's customers, suppliers, distributors, or regulators operate; economic and political conditions in the United States and in various other nations where the Company does business; changes in the Company's management team or other key personnel and the Company's ability to hire or retain key personnel or a highly skilled and diverse global workforce; risks associated with information technology and systems, including service interruptions, misappropriation of data, or breaches of security; increased pension, labor, and people-related expenses; changes in tax laws and interpretations; volatility of capital markets and other macroeconomic factors; and other factors. For additional information on these and other factors that could affect the Company's forward-looking statements, see the Company's risk factors, as they may be amended from time to time, set forth in its filings with the SEC. The Company disclaims and does not undertake any obligation to update, revise, or withdraw any forward-looking statement in this presentation except as required by applicable law or regulation.

Non-GAAP Financial Measures

This presentation contains certain non-GAAP financial measures, including Organic Net Sales, Adjusted EBITDA, Constant Currency Adjusted EBITDA, Adjusted EPS, and Free Cash Flow. These non-GAAP financial measures may differ from similarly titled non-GAAP financial measures presented by other companies. These measures are not substitutes for their comparable financial measures prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and should be viewed in addition to, and not as an alternative for, the GAAP results in this presentation.

These non-GAAP financial measures assist management in comparing the Company's performance on a consistent basis for purposes of business decision-making by removing the impact of certain items that management believes do not directly reflect the Company's underlying operations.

Please see discussion of non-GAAP financial measures and the reconciliations at the end of this presentation for more information.

APRIL 29, 2021

Q1 2021

BUSINESS UPDATE

Q1 2021 BUSINESS UPDATE

4

We have begun

2021 with strong

1

Solid start to the year… top line and

momentum across

bottom line

our brands and

businesses

2

Early 2021 plan wins positioning us

to accelerate our advantage

3

Continuing to strengthen portfolio

while building financial flexibility

TOTAL KRAFT HEINZ

Q1 2021 BUSINESS UPDATE

5

Solid start to the year, both

top line and bottom line

Organic Net Sales1

8.7%

2.5%

Q1 vs. 20192

Q1 vs. 2020

Constant Currency

Adjusted EBITDA1

9.7%

10.4%

Q1 vs. 2019 2

Q1 vs. 2020

1| Non-GAAP financial measure. See Appendix to this presentation for more information, including GAAP to non-GAAP reconciliations.

2| The Company views comparison to the 2019 period to be more meaningful than the comparable 2020 period given the exceptional, COVID-19-related consumer demand changes experienced in the 2020 period.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

The Kraft Heinz Company published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 11:11:07 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 25 261 M - -
Net income 2021 3 200 M - -
Net Debt 2021 19 306 M - -
P/E ratio 2021 16,4x
Yield 2021 3,97%
Capitalization 49 537 M 49 537 M -
EV / Sales 2021 2,73x
EV / Sales 2022 2,78x
Nbr of Employees 38 000
Free-Float 53,8%
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 21
Average target price 43,04 $
Last Close Price 40,50 $
Spread / Highest target 23,5%
Spread / Average Target 6,26%
Spread / Lowest Target -18,5%
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NameTitle
Miguel Patricio Chief Executive Officer & Director
Carlos Arturo Abrams-Rivera President
Paulo Basilio Chief Financial Officer
Alexandre Behring da Costa Chairman
Flavio Torres Head-Global Operations
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