百胜餐饮集团公司战略会议PPT；YumBrandConsumerStrategy.doc

EmergingMarketsHigh ReturnStrongerGrowthTRANSFORMING THE BUSINESS MODELTim Jerzyk, SVP Investor RelationsJanuary 2011Forward Looking StatementsThis presentation will include forward-looking statements that reflect managements 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 ou厂 Wfeb s/teYum!Yum! StrategiesBuild Leading Brandsin China in EverySignificant CategoryDrive AggressiveInternational Expansionand Build StrongBrands EverywhereDrive Industry-Leading, Long-Term Shareholder and Franchisee ValueDramatically ImproveU.S. Brand Positions,Consistency and ReturnsYum!: Truly GlobalU.S.78%2010F1998Operating Profit SourceYum!5Note: Numbers are ApproximateConsistent Financial PerformanceEPS Growth15%15%13%13%14%14%14%13%13%r i，02，03，04，05，06，0708，09，10 F Note: Prior to special items and the initial impact of expensing stock options in 2005.Reconciliation of Non-GAAP measurements to GAAP results found on .Consistently Strong ROIC; Among Industry Leaders20.5%19.9%18.9%Note: Split-adjusted (May 2007 2-for-1 stock split) quarterly dividend.11185%18.4%18.6%18.3%18.0%01021 7 7%03040506070809Yum! Has Generated Superior Shareholder Returns5 Year Average Total Shareholder Return16%Yum! BrandsS&P 500Yum!8Source: BloombergNote: Total Shareholder Return includes the split adjusted stock price appreciation plus dividends reinvested for the 5 year period ending September 30, 2010Consistent Dividend Growth$0.30$0.25$0.20$0.15$0.10$0.05$0.00、分、冷、多 、#、# 、少、少、步、设心d d d d d d d d d d d oN d Yum!Model Evolution to High Return Businesses201035,14127,2542000 China YRI OtherFranchiseNumber of World-wide RestaurantsStrong Global Portfolio Generates Double-Digit EPS GrowthOn-going EPS Growth Model2% 13%China YRI Taco Bell Other CF- ModeledU.S. U.S. Driven GrowthProfit隱丨:5%+1%+6%Growth+3%Yum!#Yum!: Truly GlobalU.S.78%2010F2015F1998Operating Profit SourceNote: Numbers are ApproximateYum! China: Significant Lead over Western QSRNumber of Restaurants 3,900And Growing Faster-400Forecasted 2011 New Units 475KFC Development Reaches Deep into China% of Total New Builds by TierTier 115%50 to 6033%Tier 2New CitiesEach Year!Tier 3 - 652%2010Yum!21Yum! China: Outstanding MarginsChina Restaurant Margin % Net Sales20% 22%0110 F5483,900$0.7$4.9Yum!UnitsSystem Sales (Bn.)16Numbers are approximateEmerging Markets on the Ground Floor of GrowthConsuming Class PopulationYRIEMERGING2.0 BillionYRIEMERGING1.1 BillionChina650 Million2010Source: Euromonitor 20102020FChina450 MillionYum!25Almost Half of YRI Profits from Emerging Markets2010F YRI Operating ProfitsTop EM Profit Contributors Asia South Africa Middle East / North Africa Caribbean / Latin AmericaInvesting in Future Growth & Returns in Emerging MarketsEquity & FranchiseFranchiseIndiaRussiaAfricaSoutheast AsiaIndia Development Path Similar to China1321012010F)10 Years of New Unit DevelopmentKFC China (1987 - 1996)KFC India (2001Reaching Critical Mass in Russia Acquisition of KFC Rostiks complete150 stores Strong unit-level economics Strong sales momentum Building the teamSignificant Long-term Market PotentialPioneering AfricaOver 1 Billion PeopleC-O-B Protein of Choiceknuckfr44%South Africa Market SharePhenomenal Sales Growth in Southeast Asia5-yr System Sales CAGR 2005-201054%21%13%IndonesiaMalaysiaVietnamUnits 800780102Emerging Markets Will Add Over 1 Billion Potential CustomersConsuming Class Population2010 to 20202010202024Source: Euromonitor data 2010; Consuming Class - Annual disposable income $5,000.Equity and Franchise Growth Driving Profits in Emerging MarketsTotal Yum! Operating Profit$3 Bn60%$1.6 Bn$1.3 Bn30%46%DevelopedMarketsEmerging200620092015FMarkets35Emerging Markets on the Ground Floor of GrowthYum! Units Per Million People600.2 17U.S.ChinaIndiaRest of Top 10fPeople 0.3 Bn.1+ Bn.1+ Bn.1+ Bn.VJYum!26Source: World Mon