C&c Group Plc · LSE:CCR
C&c — H1 FY2027 Earnings Presentation
28 slides from C&c's earnings presentation, Oct 28, 2026
Slide 1: FY2027 Interim results
Fy2027 Interim results 28 October 2026 1
Slide 2: Agenda
agenda 01 HY2027 Highlights 02 Financial Performance 03 Strategy Update 04 05 06 Operating Update Summary and Outlook Q&A 2
Slide 3: HY2027 Highlights
HY2027 HIGHLIGHTS SOLID BUSINESS PERFORMANCE WITH CLEAR STRATEGIC PROGRESS €43.4m Beer1 and Cider2 portfolio market share gains Operating Profit +4% vs HY2026 Customer service, pricing and cost control €36.9m Underlying Free Cash Flow Building resilience +18% vs HY2026 2.0c Updated strategy executio
Slide 4: HY2027 Financial Performance
HY2027 FINANCIAL PERFORMANCE 4
Slide 5: Headline financials
Headline financials Group Operating Profit +4% vs HY2026 | Adj. Earnings Per Share +6% HY2027 HY2026 vs HY2026 €m+ (Reported) (Reported) Net revenue 794.9 825.7 (3)% Operating profit before exceptional Items 43.4 41.9 +4% Operating margin 5.5% 5.1% +40bps Adj. Profit before tax 33.3 32.1 +4% Adj. Ea
Slide 6: Net revenue bridge
Net revenue bridge 6.6 37.3 (€'m) 825.7 794.9 HY26 Reported Branded Distribution HY27 Reported Revenue decline in Distribution from planned exit of low margin business 6
Slide 7: Operating profit bridge
Operating profit bridge* 1.0 2.5 - Branded 29.2 (€'m) Branded 26.7 43.4 Distribution 14.2 Distribution 41.9 15.2 Group 43.4 Group 41.9 HY26 Reported Branded Distribution HY27 Reported Growth in branded business offsetting planned exit of low margin distribution business *pre-exceptional items 7
Slide 8: Cost outlook
Cost outlook HY27 OPEX breakdown Unit cost movement Cost FY27 estimate FY28 estimate 70% 3rd-party goods for resale Manufacturing input costs Aluminium ↑ ↑ 11% Manufacturing input costs Utilities ↑ → Glass → ↑ Sugar / Glucose ↓ → 10% Distribution costs Boxes / Board ↑ ↑ Cereals ↓ → 9% Overheads Appl
Slide 9: Free cash flow
Free cash flow €m HY2027 HY2026 vs HY2026 Adjusted EBITDA 60.5 58.1 +2.4 Net Capital Expenditure (7.0) (4.6) (2.4) Payment of Lease liabilities (10.1) (10.5) +0.4 Working Capital Movement 2.4 (4.9) +7.3 Income Tax Refund 1.3 1.4 (0.1) Net Finance Costs Paid (9.5) (10.1) +0.6 Fx/Other (0.7) 1.8 (2.5)
Slide 10: Movement in net debt (excluding leases)
Movement in net debt (excluding leases) €m HY2027 HY2026 Opening Net Debt (Excluding Leases) (121.4) (80.9) Leverage 1.6x 0.9x Free Cash Flow 25.1 24.3 Dividends Paid (13.6) (15.9) Share Buy back - (15.1) Acquisitions (5.1) - Other (0.3) (0.1) Translation Adjustment 1.6 (3.8) Closing Net Debt (Exclu
Slide 11: Medium term targets
Medium term targets €85m >€100m Operating profit Free cash flow FY30 FY28-FY30 C&C Brands: • Revenue growth Free cash flow after leases and • Small decline in operating margin exceptional costs of 50-100bps reflecting mix We are targeting over €100m of free MCB: cash flow over the three years • Reve
Slide 12: Capital allocation
Capital allocation 01 02 03 04 Strong Balance Organic Ordinary Surplus Capital Sheet Investment Dividend Deployed for Maintain a strong Invest in the business Pay a sustainable and Growth or balance sheet targeting to deliver long-term progressive ordinary Return leverage of 1.0 – 1.5x on profitable
Slide 13: Strategy update
STRATEGY update 13
Slide 14: Resilience and momentum
We are entering a three-year period that will be defined by our focus on building… RESILIENCE and MOMENTUM People & Improved Customer Resilience culture Tech & data efficiency Cost controls service Launch of C&C Brands Core brand Consolidation Profitable Momentum MCB portfolio innovation acquisition
Slide 15: Our business
Our business OUR PURPOSE WHO WE ARE WE MAKE WE MOVE We bring people together – We are a branded multi- through remarkable brands, beverage, multi-channel drinks trusted partnerships and specialist, driven by a challenger excellence in execution mindset and focused on sustainable, efficient growth. W
Slide 16: C&C operates through two focused businesses with distinct approaches to value creation
C&C operates through two focused businesses with distinct approaches to value creation C&C Brands c.€600m revenue and c.10% c.€900m revenue and c.1% Size operating margin operating margin Vertically integrated, asset- Wholesale model in Model England & Wales backed brand-led model Hospitality, hotel
Slide 17: We have been busy since late May
We have been busy since late May… The integration of Innis & Gunn settling Completion of the Embedding Delivering our Matthew Clark and into the portfolio acquisition of all of simplification and innovation agenda. Bibendum is up and following acquisition Asahi UK’s wholesale resilience-building Our
Slide 18: Building partnerships to create long-term value
Building partnerships to create long-term value Core Brewing Branded Shareholder brewing and packing sales and sales partner partnership partnership partner We are the brewing partner for a number of significant global beer brands 18
Slide 19: Operating update
e°¢@ OPERATING UPDATE cac group plc “HH
Slide 20: Beer portfolio review
portfolio Review BEER PORTFOLIO DELIVERING VALUE GROWTH AHEAD OF THE MARKET (1) beer +4.5% +£6.8m +0.2% +8.1% HY2027 C&C GB Beer Tennent’s C&C share Menabrea Net-revenue value sales value sales vs gains Total value sales +3.2% vs PY (+60bps vs PY Scotland growth market) Lager (40.2%) Scotland Scotla
Slide 21: Innovation launch: Tennent's Stout
INNOVATION LAUNCH: Tennent’s Stout Innovation gaining momentum: Why now: stout interest has expanded fast - Scotland leads growth in stout alternatives* Who: 18–34 drives the style, and 60% of stout drinkers are open to trying new brands** Right to win: Tennent's Pilsner already proved we recruit dr
Slide 22: Cider portfolio review
portfolio REview CIDER PORTFOLIO GAINING SHARE IN PRIORITY MARKETS (1) CIDER +0.3% +4.0% +17% No.1 HY2027 C&C share of Bulmers value Outcider Magners Net-revenue Ireland Cider sales (+1.5 pp value growth Packaged +0.7% vs py (58.6%) market share) NI On Trade Apple Cider (market -1.3%) GB On Trade Ir
Slide 23: Innovation launch: Bulmers & Magners
INNOVATION LAUNCH: Bulmers & magners Innovation gaining momentum: We have brought innovation to the cider category with the launch of Bulmers Flavours (Strawberry & Lime; Bulmers Berries), and with the introduction of Bulmers 0.0% and Magners 0.0% in the iconic pint bottle format. In Ireland, the ‘T
Slide 24: Nectar and Asahi direct distribution acquisition
NECtar and asahi direct distribution acquisition Industry consolidation 1 2 3 4 IFT customer Fuller, Smith & Operational Long-term integration Turner efficiency partnership c.800 IFT accounts – Supply to the Hindon depot lease, Business agreement additive to MCB’s core prestigious FST estate vehicle
Slide 25: Committed to investing in sustainability
Committed to INVESTING IN SUSTAINABILITY HY2027 Highlights: - Installation of the planned de-alcoholisation plant at the Wellpark Brewery has commenced (pictured). Due to be operational in early 2027. - We reached a sustainable procurement milestone with alignment to ISO 20400 Sustainable Procuremen
Slide 26: Summary & Outlook
Summary & Outlook Solid H1 performance across the Group Operating profit +4%, adjusted EPS +6% and margin +40bps Planned exit of lower-margin volume in Distribution Good underlying free cash flow +18% Acquisitions and industry consolidation adding value Building resilience into the Group Partnership
Slide 27: Q&A
Q&A cac group ple i
Slide 28: Disclaimer
Disclaimer This presentation is not intended to and does not constitute or form part of any offer, or invitation, or solicitation of any offer to issue, underwrite, subscribe for, or otherwise acquire or dispose of any shares or other securities of C&C Group plc (the "Group"), in any jurisdiction or