Overview

1
Overview
October, 2004
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CC Group Product Profile
Alcohol
Irish LAD
Bulmers
10 5
N. Ireland LAD
Magners
Soft Drinks
Soft Drinks Snacks
Incl. Club, 7UP Ballygowan
35 40
Snacks
Incl.Tayto King
Spirits Liqueurs
Cream Liqueurs
Carolans
6 7
Irish Whiskey
Tullamore Dew
(1) Independent sources (2) Company estimates
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CC Group - Leading Irish Brands
Alcohol
Cider

• 81 Number 1

Bottled Water
Soft Drinks and Snacks
34 Number 1 75 Number 1 37 Number
1 33 Number 1
Lemon / Lime Carbonates
Orange Carbonates
Savoury Snacks
Sources Nielsen, Canadean
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(No Transcript)
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Cider the Irish LAD Market
1990 2003 CAGRTotal Long Drinks Market 2
14 CAGR
Bulmers share of cider market
31
30
41
47
48
45
63
67
71
79
79
77
80
81
CC has grown cider to become a significant
category in the Irish long drinks market
Source Revenue Commissioners for cider volume
CC for Bulmers ex-factory volumes Note
Calendar years.
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Cider Circa 1988

• Poor image
• Low price point
• High alcohol content (5.5 / 6.0)
• Fringe category

• Brand image and positioning
• Consumer and trade attitudes
• Media perception
• Strength / pricing

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Cider Today
Current Position

• Price premium / Image
• Positioned alongside premium lager
• Normal alcohol content (4.5)
• Brand values
• Naturalness, Tradition, Heritage
• Unique pint bottle proposition
• Outperformance
• Beer
• Competitor ciders

• Nov03 Jan04.

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Recruiting New Consumers
Bulmers 30 38 44 Heineken 16 12 6 Budweise
r 32 20 26 Guinness 6 14 10 Carlsberg 5 6 1
Coors Light 0 3 5 Smithwicks 6 3 2 Miller 2 5
3 Smirnoff Ice 6 3 2
Consistently high share of recruitment
Source TNS MRBI Brand Tracking Note MRBI
Question of respondents choosing a new most
often brand at the time of asking.
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Bulmers Market Share
Strongest is high volume 18-24 segment , but
growing share in all age groups
Source Management analysis and estimates based
on MRBI, 2003, and AC Nielsen on-trade data
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Smoking Ban

• Ban on smoking in the workplace
• Third party views
• Irish Hospitality Industry Alliance Detrimental
  effect on volume
• Department of Finance(a) 2 decline in duty
• OTC study(b) more than twice as many people say
  they will visit bars more often compared to those
  who will visit less often
• University College of Dublin(c) bans have
  little or no effect in aggregate
• Scollo et al.(d) no impact or a positive impact
  on sales and employment from smoke free policies
• Early indications
• Strong support and compliance
• Surprisingly low initial impact
• Positive trade investment

• Irish Times, 6 January 2004.
• Office of Tobacco Control, 23 March 2004.
• Survey dated 27 January 2004.
• Scollo et al., 2002.

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International Cider Opportunity

• Profitable with Significant Growth Potential

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International Cider Opportunity
Magners in Northern Ireland versus Current
Bulmers Share in Ireland
Northern Ireland

• Accelerate investment
• Replicate ROI

Great Britain

• Scotland test successful
• Priority focus
• Controlled roll-out

International

• Southern Europe
• Opportunity from tourist driven volume influenced
  by GB/Irish success
• US
• Boston focus

Bulmers share of LAD market in Ireland
Magners share of on-trade LAD market in NI
Launch
Sources AC Nielsen, Revenue Commissioners, CC
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CC Group - Overview

• Leading manufacturer, marketer distributor of
  branded beverages snacks
• Successful Initial Public Offering - May, 2004
• Market cap. 750 million Enterprise value 1.20
  billion
• 3 Operating Divisions
• Alcohol
• International Spirits Liqueurs
• Soft Drinks Snacks

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CC Group Earnings Profile

• EBITA by division H1 04/05
• Alcohol 61
• Soft-drinks Snacks 27
• International 12
• EBITA by region H1 04/05
• Ireland 83
• Northern Ireland 5
• International 12

Based on 6 months to 31 August 2004
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Track Record of Sustained Growth
Turnover 18 Year CAGR 11
Turnover million
EBITA 18 Year CAGR 16
EBITA million
16
Pint bottle Ice