Spring 2009 Introduction Cadbury is a leading global confectionery company with an outstanding portfolio of chocolate, gum and candy brands. We employ around 45,000 people and have direct operations in over 60 countries, selling our products in markets everywhere around the world. We are nearly 200 years young. Our origins can be traced back to 1824 when John Cadbury opened a shop in Birmingham, UK selling tea and cocoa and in 1831, started manufacturing drinking chocolate and cocoa. In 1969 Cadbury merged with Schweppes to create Cadbury Schweppes.
In 2003, Adams Confectionery was acquired including its Trident and Halls brands, now respectively the world’s largest gum and candy brands. On 7 May 2008, we demerged the Americas Beverages business and created Cadbury plc. In March 2009, we announced a definitive agreement to sell the Australia Beverages business for approximately ? 550 million. Our vision Our Vision into Action plan embodies all aspects of our strategy. Our governing objective is to deliver superior shareowner returns by realising our vision to be the world’s biggest and best confectionery company.
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At the heart of our plan is our performance scorecard, delivered through our priorities, sustainability commitments and culture. Financial highlights 2008 Full year results ??? ??? ??? ??? Base business revenue +7% Strong growth across all categories, emerging markets and focus brands Underlying operating margins +150bps Transformation into a category-led pure-play confectionery company 2008 Full year confectionery revenue by business unit 6 5 4 7 1 2 3 1 2 3 4 5 6 7 Europe Britain and Ireland Middle East and Africa North America South America Asia Pacific 0% 24% 7% 22% 8% 6% 13% (except where stated all movements use constant currency) 2008 Full year confectionery revenue by category 3 1 2 Financial calendar 30 April 2009 14 May 2009 Interim Management Statement AGM 1 Chocolate 2 Gum 3 Candy 46% 33% 21% Our ongoing focus 13 focus brands 7 focus customers 12 focus markets Brazil India China South Africa Japan USA Mexico UK France Turkey Russia Australia Our management Roger Carr, Chairman Appointed Chairman in July 2008 to replace Sir John Sunderland.
He originally joined the Board in January 2001 and became Deputy Chairman and Senior Independent Non-executive Director in May 2003. He is also Chairman of Centrica plc and a Non-executive Director of The Bank of England. Todd Stitzer, Chief Executive Officer Appointed to the Board in March 2000 and to the role of CEO in May 2003. He was Chief Strategy Officer between March 2000 and May 2003 when he oversaw the acquisition of Adams Confectionery. Prior to this he was President & CEO of Dr Pepper/Seven Up, Inc. between 1997 and 2000.
He joined Cadbury North America in 1983 as assistant general counsel where he gained extensive international experience in senior legal, marketing, sales, strategy development and general management roles within the Company. Andrew Bonfield, Chief Financial Officer Designate Joined Cadbury as CFO Designate in February 2009 and will be appointed to the Board and become CFO in April 2009. He was previously the CFO at Bristol-Myers Squibb (2002-2008), Non-executive Director of ImClone Systems Inc (2007-2008) and Non-executive Director of BOC Group plc (2003???2006).
His strong track record as an international and FTSE-100 CFO make him particularly qualified to lead the Cadbury finance function. Our sustainability commitments In January 2008, we established the Cadbury Cocoa Partnership together with the United Nations Development Programme, local governments, farmers and communities. This ground-breaking partnership aims to secure the economic, social and environmental sustainability of around a million cocoa farmers and their communities in Ghana, India, Indonesia and the Caribbean. Over the next ten years we will invest around ? 5 million to: ??? ??? ??? ??? Improve cocoa farmer incomes Introduce new source of rural income Invest in community led development Work in partnership In July 2007 we developed Purple Goes Green, our absolute commitment to take action on climate change. We became the first food manufacturer to commit to ‘absolute’ (rather than relative) carbon reduction. Our stretching targets: ??? ??? ??? ??? 50% reduction in absolute carbon emissions by 2010 10% reduction in packaging used per tonne of product by 2010 100% water scarce sites with water reduction programmes by 2009 Campaign for change Please visit www. cadbury. com to find out more