百勝餐飲集團(tuán)公司戰(zhàn)略會(huì)議 素材

TRANSFORMINGTHEBUSINESSMODELEmerging MarketsStronger Growth

High ReturnTimJerzyk,SVPInvestorRelations

January2011ForwardLookingStatementsThispresentationwillincludeforward-lookingstatementsthatreflectmanagement’sexpectationsbasedoncurrentlyavailabledata.However,actualresultsaresubjecttofutureeventsanduncertainties.Theinformationinthepresentationrelatedtoprojectionsorotherforward-lookingstatementswhichmaycauseactualresultstodiffermateriallyaresubjecttothesafeharborstatementpostedonourWebsite2PowerfulGlobalPortfolioofBrands3Yum!Strategies4BuildLeadingBrandsinChinainEverySignificantCategoryDriveAggressiveInternationalExpansionandBuildStrongBrandsEverywhereDramaticallyImproveU.S.BrandPositions,ConsistencyandReturnsDriveIndustry-Leading,Long-TermShareholder andFranchiseeValue5

U.S.35%2010FINT’L

65%

U.S.78%

Yum!:TrulyGlobalINT’L22%

1998

OperatingProfitSourceNote:NumbersareApproximate6

13%’02

13%’03

15%’04

13%’05

14%’06

15%’07

14%’08

13%’09

14%’10FNote:Priortospecialitemsandtheinitialimpactofexpensingstockoptionsin2005. ReconciliationofNon-GAAPmeasurementstoGAAPresultsfoundon.ConsistentFinancialPerformance

EPSGrowth'01'02'03'04'05'06'07'08'0918.5%18.4%

18.0%17.7%18.3%18.6%ConsistentlyStrongROIC;AmongIndustryLeaders

20.5%

19.9% 18.9%7Yum!HasGeneratedSuperiorShareholderReturns

5YearAverageTotalShareholderReturn 16% 1%Source:BloombergNote:TotalShareholderReturnincludesthesplitadjustedstockpriceappreciationplusdividendsreinvestedforthe5yearperiodendingSeptember30,2010Yum!BrandsS&P5008$0.10$0.05$0.00$0.30$0.25$0.20$0.159Note:Split-adjusted(May20072-for-1stocksplit)quarterlydividend.InitiatedDoubled6thAnnualIncrease!ConsistentDividendGrowth

OnSeptember14th201019%increaseChinaOtherYRIFranchise20002010Note:2010Unitsasofthirdquarter,excludeslicenseunits.OtherincludesU.S.CompanyandFranchiseandYRICompanyunits.

ModelEvolutiontoHighReturnBusinesses

NumberofWorld-wideRestaurants 640

4,047

3,200 35,14127,25410+7%+3%+1%<1%13%~2%StrongGlobalPortfolioGeneratesDouble-DigitEPSGrowth

On-goingEPSGrowthModel

ProfitGrowth

YRI+10%TacoBell U.S.

+6%China+15%Modeled GrowthOther U.S.+3%

CF-Driven11U.S.Yum!:TrulyGlobal25%

INT’L 75%

2015F

12INT’L

U.S. 35%

INT’L 65%

2010FOperatingProfitSource

22%

U.S. 78%

1998Note:NumbersareApproximate13Yum!China:SignificantLeadoverWesternQSR

NumberofRestaurants 3,900 1,800Numbersareapproximate14

AndGrowingFaster…Forecasted2011NewUnits 475 400NumbersareapproximateSources:WallStreetJournalandcompanycommunicationsKFCDevelopmentReachesDeepintoChina

%ofTotalNewBuildsbyTier

Tier1

Tier2Tier3-62010

1533%52%15%50to60NewCitiesEachYear!'01'10F16Yum!China:OutstandingMargins

ChinaRestaurantMargin%NetSales22%

548$0.73,900 $4.920%UnitsSystemSales(Bn.)Numbersareapproximate

China450Million650Million2020FEmergingMarketsontheGroundFloorofGrowth

ConsumingClassPopulation

YRI EMERGING 2.0Billion

YRI EMERGING 1.1Billion

China

2010Source:Euromonitor201017

EmergingMarkets 40%

DevelopedMarkets 60%Note:2010FOperatingProfitsforYRI,doesnotincludecorporateandunallocatedexpense.AlmostHalfofYRIProfitsfromEmergingMarkets

2010FYRIOperatingProfits

TopEMProfitContributors

?Asia?SouthAfrica?MiddleEast/NorthAfrica?Caribbean/LatinAmerica

18InvestinginFutureGrowth&ReturnsinEmergingMarkets

Equity&Franchise

IndiaRussia

AfricaFranchise SoutheastAsia

19IndiaDevelopmentPathSimilartoChina132

10111KFCChina(1987-1996)KFCIndia(2001-2010F)2010YearsofNewUnitDevelopmentReachingCriticalMassinRussia?AcquisitionofKFCRostikscomplete…150stores?Strongunit-leveleconomics?Strongsalesmomentum?BuildingtheteamSignificantLong-termMarketPotential21

PioneeringAfrica

Over1BillionPeopleC-O-BProteinofChoiceSouthAfricaMarketShare

2244%IndonesiaMalaysiaVietnam23Units800780102PhenomenalSalesGrowthinSoutheastAsia

5-yrSystemSalesCAGR2005-2010

54% 21% 13%24

2010Source:Euromonitordata2010;ConsumingClass–Annualdisposableincome>$5,000.2020EmergingMarketsWillAddOver1BillionPotentialCustomers

ConsumingClassPopulation 2010to2020

2.7Billion

+1.1Billion

1.6Billion25200620092015F$1.3Bn$1.6BnEquityandFranchiseGrowthDrivingProfitsinEmergingMarkets

TotalYum!OperatingProfit ~$3BnNumbersareApproximate.30%46%60%

Emerging MarketsDeveloped Markets26Source:WorldMonitor2010,2010FYum!TraditionalunitsU.S.ChinaIndiaRestofTop10EmergingMarketsontheGroundFloor