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International
Larry McWilliamsPresident International
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• An Operating Division of Campbell’s … critically linked with the Company’s overall strategies
• Manufacturer and marketer of Simple Meals, led by Soup, Baked Snacks and vegetable based beverages
– Asia Pacific
– Europe
– Latin America
– Emerging Markets
• $1.7 Billion in annual Sales
• 6,700 employees
International Division
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International Portfolio
Net Sales $1.7BCategories
Biscuits 41%
Wet Soup32%
Dry Soup7%
Sauces6%
Other 10%
Beverages 4%
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4 Operating Regions (% Sales)
• Asia Pacific 53%
• Europe 38%
• Latin America 7%
• Emerging Markets 2%
• Asia Pacific 53%
• Europe 38%
• Latin America 7%
• Emerging Markets 2%
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Asia Pacific
Australia 79%New Zealand 8%Indonesia 5%Malaysia 5%Japan 3%
% SalesMarkets
Biscuits 78%Soup 15%Beverage 2%Sauce 4%Other 1%
% SalesCategories
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In Australia, We Have a Strong Soup Business Under the Campbell’s Brand
Campbell’s 58%Next Leading Competitor 33%
Share(1)
(1) Latest 52 weeks value share
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Arnott’s Biscuits
• Largest selling food brand in the grocery store
• Household penetration of almost 100%
• Growing business in Asia/Pacific region
(1) Latest 52 weeks value share
Arnotts 60%Next Leading Competitor 6%
Share(1)
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Europe
Germany 32%France 29%Belgium 25%Nordic 11%Netherlands 3%
100%
% SalesMarkets
Wet Soup 55%Dry Soup 19%Sauce & Beverage 10%Other 16%
% SalesCategories
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We are Building Sustainable Growth in Europe
• Business focused on Western Europe (Germany, France, Belgium, Sweden, and Netherlands)
• #1 brands in wet and instant dry soup categories
• Focusing on building sustainable growth by– Leveraging brand strengths– Continuous innovation
program– Identifying new distribution
channels and occasions
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Europe Brands
France Germany
Nordic
Liebig 48.4Next Leading Competitor 33.4
Royco Instant Dry 71.0Next Leading Competitor 16.0
Share(1)
(1) Latest 52 weeks value share; Belgium ambient only
Erasco 47.5Next Leading Competitor 24.4
Heisse Tasse Instant Dry 51.1Next Leading Competitor 26.9
Share(1)Campbell Deli Soup 49.0Next Leading Competitor 38.8
D&L Sauces 40.8Next Leading Competitor 28.4
Royco Instant Dry 87.1Next Leading Competitor 12.0
Share(1)
Belgium
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Latin America Brands
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Campbell’s International will Benefit from Macro-Economic Trends Worldwide
• Population growth is the key driver of food consumption
• GDP/capita growth will bring processed food within economic reach of hundreds of millions of people in emerging markets
44%
94%
56%
6%
Growth in GDP Growth inPopulation
Emerging
Developed∼∼∼∼$30 Trillion 1.1 Billion
Source: McKinsey analysis
Share of Forecasted Growth 2003-2023
Emerging
Developed
DevelopedEmerging
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* China - Soup U&A June 2004* Russia - Soup Eating Habits March 2005
Low Commercialization Rates = A Tremendous Opportunity
Existing Markets% Commercial Soup
New Market Opportunities
80%
70
60
50
40
30
20
10
0
350
300
250
200
150
100
50
0Japan Mexico USA Germany France Canada Australia
4119 14 4 3 2 1
34
15
70
50
33
73 75
China* Russia*
320
32
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External Trends• Existing Soup Behavior
– Existing Markets/New Markets• Participate• Localize
• Health/Wellness– Soup/Broth– Vegetable based Beverages– Baked Snacks
• Rapidly improving conditions in Emerging Markets– Economic growth– Growing middle class– Infrastructure– Population
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Internal Capabilities
• Strong brands
• Consumer understanding
• R&D capabilities
• Thermal processing expertise
• Vegetable expertise
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Russia and China
% of Total World Soup Consumption
2009-2011
Russia & China 56%
% of Total World Soup Consumption
6%
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Russia is Gearing Up for Expansion• Strong product acceptance in Moscow lead market• Established local low-cost production capability• Best in class distribution through Coca-Cola Hellenic partnership• National expansion to begin in August ’09
– From 3 SKU’s in 1,500 stores – 1 city – F’09– To 14 SKU’s in 32,000 stores – 100 cities – F’10
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Coca-Cola Hellenic OverviewOverview
• Largest bottler in Europe• 2nd largest Coca-Cola bottler in world• Operates in 28 countries 16 of which are part
of the European Union• Access to 550 million consumers• $10B in sales
Soup Potential in Current Coca-Cola Hellenic Geographies
• Geography covers 11% of world population• Approximately 75B Soup servings annually• Russia and Ukraine are key consumption markets
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China Portfolio Development
• Successful Broth launch in Guangdong and Shanghai
• Local supply through co-packer
• Best in Class Distribution through Swire Beverage partnership
• Portfolio expansion work underway – F’10
– Build scale
– Broaden occasions
– Launch new portfolio in existing markets
• Expand into more regions – F’11
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Latin America
Europe
Asia Pacific
Emerging Markets
Campbell
Everywhere … Everyday