Trian Partners Activist Presentation Deck
Significantly Improved Performance and TSR
Key Financial Metrics Up Across the Board
$mm, except per share
Net Revenue
Em. Markets (% of Total)
EBITDA ex Marketing
Marketing Spend
SG&A% of Sales (ex Marketing)
Diluted EPS (3)
Annual Dividend
FY13A
FY14E
After-Tax ROIC
14.8%
Source: Financials based on Company filings, press releases and investor presentations.
Performance for
2/6/2001-2/6/2006
2%
Heinz Shareholder Returns
Led the S&P 500 (5)
FY06A FY12A Change
$8,643
$11,649
35%
11.0%
21.0% 1,000bps
$1,866
$2,486
$269
$468
18.1%
17.1%
$2.10
$3.35
$1.20
$1.92
$3.62
$3.80
20.4%
2%
2/6/2001-2/6/2006
Source: Bloomberg.
178%
33%
74%
40%
Heinz S&P 500
Performance
for the 7 years
since then
Source: SEC filings.
(1) Earnings before interest, taxes, depreciation and amortization.
(2) Selling, general and administrative expenses.
(3)
Earnings per share.
(4) Return on invested capital per the 2012 proxy.
(5) Shareholder returns from Bloomberg include dividends.
Note: February 6, 2006 represents the date when published reports first surfaced on CNBC of activist involvement. While Trian may believe that the rise in share price during the period of Trian's active
involvement was attributable in large part to the cumulative effects of the implementation of operational and strategic changes under Trian's leadership, there is no objective method to confirm what portion of
the stock's appreciation was attributable to Trian's efforts during this period and what was attributable to the overall rise in the markets or other factors.
Note: February 14, 2013 was the day the Heinz acquisition by Berkshire Hathaway and 3G Capital was announced.
Note: Market conditions at the time of the events reflected above may differ materially from current and future market conditions. The performance of this example should therefore not be construed as an
indication of the Issuer's performance. Past performance is not an indication of future results.
Note: While Nelson Peltz is a former director of H.J. Heinz Company, none of the information set forth herein is based on non-public information of H.J. Heinz Company.
2/6/2006-2/14/2013
-98bps
60%
60%
73%
81%
560bps
Heinz
CO
6View entire presentation