Molson Coors Beverage Company · NYSE:TAP
Molson Coors Beverage — Q4 2022 Earnings Presentation
21 slides from Molson Coors Beverage's earnings presentation, Feb 21, 2023
Slide 1: Q4 FY 2022 Results & Outlook
Q4 FY 2022 RESULTS & OUTLOOK
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words "expects", "intend," "goals," "plans," "believes," "continues," "may," "anticipate," "seek," "estimate," "outlook," "trends," "future benefi
Slide 3: Gavin Hattersley, Chief Executive Officer
Chief Executive Officer Gavin Hattersley 3
Slide 4: Strengthening Core Brands Globally
STRENGTHENING CORE BRANDS GLOBALLY UNITED STATES Coors Light and Miller Lite grew both dollar and volume share in the fourth quarter CANADA Molson Canadian grew revenue and industry share in 2022 EMEA & APAC Carling continues to be the number one beer brand in the U.K. 4
Slide 5: Above Premium Portfolio Exceeds 28% of Global Revenue
ABOVE PREMIUM PORTFOLIO EXCEEDS 28% OF GLOBAL REVENUE PERONI BLUE MOON FAMILY SIMPLY SPIKED MADRI TOPO CHICO HARD SELTZER 2022 revenues were 2022 revenues were higher Became the fastest- Now one of our top 5 up double-digits in compared to 2019 aided growing new innovation above premium The #4 large
Slide 6: Beyond Beer Successes Are Driving Premiumization
BEYOND BEER SUCCESSES ARE DRIVING PREMIUMIZATION ZOA FIVE TRAIL TOPO CHICO SPIRITED Up triple digits both in fourth Expanded domestic and Expanding our partnership quarter and the full year international availability with The Coca-Cola Focusing Company to compete in the high-growth RTD cocktails mar
Slide 7: Profitable Growth: Medium-Term Goals
MEDIUM-TERM GOALS SUPPORT GROWING OUR ABOVE PREMIUM PORTFOLIO PROFITABLE GROWTH (AS A PERCENTAGE OF GLOBAL NET SALES) ~+5% 35% +5% 30% Over the medium term, Continued premiumization 25% expect higher top and with Above Premium bottom-line growth portfolio reaching 20% ~33% than in 2023 with margin a
Slide 8: Expecting continued top and bottom-line growth
We have powerful core brands across our global markets. We are premiumizing our portfolio with strong innovations around the world. Expecting We are diversifying our offerings continued top and to consumers. bottom-line growth We are building the capabilities today that will power this business tomo
Slide 9: Consolidated Fourth Quarter and Fiscal Year 2022 Results
CONSOLIDATED FOURTH QUARTER AND FISCAL YEAR 2022 RESULTS Q4 2022* % CHANGE FY 2022* % CHANGE NET SALES REVENUE $2,629.5 +3.8%** $10,701.0 +7.0%** UNDERLYING INCOME $328.6 +51.1%** $1,104.8 +7.6%** BEFORE INCOME TAXES*** UNDERLYING EARNINGS $1.30 +60.5% $4.10 -1.2% PER SHARE*** UNDERLYING FREE $852.9
Slide 10: Consolidated Q4 2022 Revenue
CONSOLIDATED Q4 2022 REVENUE NET SALES REVENUE BRAND VOLUME (CONSTANT CURRENCY) (HL IN MILLIONS) +3.8% -5.2% 19.8 18.7 Volume Price Mix Q421 Q422 Financial volumes declined 6.9% on NSR/HL on a financial volume basis Brand volumes declined 5.2% driven largely by the Americas given the lower Americas
Slide 11: Consolidated Q4 2022 Underlying COGS/HL
CONSOLIDATED Q4 2022 UNDERLYING COGS/HL UNDERLYING COGS / HL* UNDERLYING COGS / HL DRIVERS* (HL IN MILLIONS) (CONSTANT CURRENCY) Employing our levers to help +11.5% Deleverage mitigate the impact of inflation Pricing Inflation & Other** Premiumization Mix Hedging Cost savings Q421 Q422 Inflation/Oth
Slide 12: Americas: Q4 2022 Results
AMERICAS: Q4 2022 RESULTS Q4 2022* YOY % CHANGE NET SALES REVENUE $2,131 +0.4%** YOY GROWTH IN NSR & NSR/HL ON A FINANCIAL VOLUME BASIS FOR U.S. AND CANADA** UNDERLYING INCOME BEFORE INCOME TAX*** $347 +29.8%** NSR NSR/HL FINANCIAL VOLUME 14.5 -10.5% BRAND VOLUME 13.6 -6.6% 12.5% Higher net sales re
Slide 13: EMEA & APAC: Q4 2022 Results
EMEA & APAC: Q4 2022 RESULTS Q4 2022* YOY % CHANGE NET SALES REVENUE $503 +20.3%** YOY GROWTH IN NSR & NSR/HL ON A FINANCIAL VOLUME BASIS FOR EMEA & APAC** UNDERLYING INCOME BEFORE INCOME TAX*** $28 +515%** NSR NSR/HL FINANCIAL VOLUME 5.2 +4.7% BRAND VOLUME 5.1 -1.0% 20.3% Net sales revenue increase
Slide 14: Consolidated Full Year 2022 Revenue
CONSOLIDATED FULL YEAR 2022 REVENUE NET SALES REVENUE YOY GROWTH IN NSR AND NSR/HL ON A FINANCIAL VOLUME (CONSTANT CURRENCY) BASIS FOR AMERICAS AND EMEA & APAC (CONSTANT CURRENCY) +7.0% NSR NSR/HL 25.1% 15.7% Volume 9.1% Price Mix 3.2% AMERICAS EMEA & APAC Financial volumes declined 2.1% on lower Am
Slide 15: Consolidated Full Year 2022 Underlying COGS/HL
CONSOLIDATED FULL YEAR 2022 UNDERLYING COGS/HL UNDERLYING COGS / HL* UNDERLYING COGS / HL DRIVERS* UNDERLYING COGS/ HL* BY BUSINESS UNIT (HL IN MILLIONS) (CONSTANT CURRENCY) (CONSTANT CURRENCY) +11.0% Deleverage Inflation Mix & Other** 19.1% 10.1% 2021 2022 AMERICAS EMEA & APAC Inflation/Other**, in
Slide 16: Capital Allocation Priorities
INVESTING IN THE BUSINESS Capital expenditures paid of $661 million directed toward brewery modernization and production capability to support innovation and growth initiatives, increase efficiencies and advance sustainability goals Capital REDUCING NET DEBT Ended 2022 with a net debt of $6.0 billio
Slide 17: Our 2023 Financial Guidance
2023E Our 2023 Net Sales Revenue, on a constant currency basis Underlying Income Before Income Taxes, on a constant Low-Single Digit Growth Low-Single Digit Growth Financial currency basis Underlying Free Cash Flow $1B +/- 10% Guidance Capital Expenditures Incurred $700M +/-5% Underlying Depreciatio
Slide 18: Proud, Well Positioned, Committed
Proud of our Accomplishments in 2022 despite the Global Inflationary Environment Well Positioned with a Strong Portfolio of Brands in All Price Segments and Substantially Improved Financial Flexibility to Navigate Challenging Environment Committed to our Strategy and Investing in Business to Drive L
Slide 19: Questions & Answers
Questions & Answers 19
Slide 20: It's a Blue Moon
“ IT’S A BLUE MOON é MOLSON COORS =z
Slide 21: Molson Coors
MOLSON COORS finray
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