Molson Coors Beverage Company · NYSE:TAP
Molson Coors Beverage — Q1 2022 Earnings Presentation
22 slides from Molson Coors Beverage's earnings presentation, May 3, 2022
Slide 1: Q1 FY 2022 Results & Outlook
Q1 FY 2022 Results & Outlook May 3, 2022
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 “believe,” "aims," “expect,” “intend,” “anticipate,” “project,” “will,” “outlook,” and similar expressions identify forward-looking statemen
Slide 3: Chief Executive Officer Gavin Hattersley
Chief Executive Officer Gavin Hattersley 3
Slide 4: Strengthening Core Brands Globally
Strengthening Core Brands Globally United States In Q1 2022, Coors Light and Miller Lite both grew revenue and generated best combined industry share performance in five years. Canada Coors Light grew share of the beer category. EMEA & APAC In Q1 2022, Carling retained its #1 beer ranking in the U.K
Slide 5: % Above Premium
Globally, our Above Premium TTM net sales revenue now represents over 26% of our portfolio Molson Coors has grown share of TTM net sales revenue from Above Premium for five straight quarters Gaining traction in Above Premium 26.2% % Above Premium & Beyond Beer Segments 23.3% Note: TTM indicates trai
Slide 6: Above Premium Continues to Grow Within Total Portfolio
Above Premium Continues to Grow Within Total Portfolio Topo Chico Vizzy Madri & Pravha Molson Ultra Blue Moon Simply Spiked Hard Seltzer Top 5 U.S. hard seltzer In EMEA & APAC, Madri is a Posted 47% volume Belgian White & Lemonade Fastest-growing hard brand and gaining top 25 U.K. beer and in growth
Slide 7: Beyond Beer Successes Helping to Drive Premiumization
Beyond Beer Successes Helping to Drive Premiumization Five Trail ZOA La Colombe Expanded to two more states, Achieved record sales Up 17% in dollar share compared based on strong results from initial in March to the ready to drink tea and four launch markets coffee category which was up 1% in Q1 per
Slide 8: Mitigating Cost Pressures
Mitigating Cost Pressures Strong pricing Premiumization Extensive hedging program Successful cost savings 8
Slide 9: Strong U.S. Distributor Inventories into Peak Season
Strong U.S. Distributor Inventories into Peak Season U.S. out of stocks* return to pre-pandemic levels. 2019 2020 2021 Q1 2022 * Out of stock data on core SKUs based on internal estimates. 9
Slide 10: Monitoring Consumer Sentiment and Demand
Monitoring Consumer Sentiment and Demand While not seeing trade down, Molson Coors is well positioned with strong brands across all segments. 10
Slide 11: Russian War Against Ukraine
Russian War Against Ukraine Halted exports to Russia with minimal impact on our business Focused on supporting our people and managing costs related to Russia Ukraine War 11
Slide 12: Another Quarter of Continued Progress
Executing Against the Pillars of Our Revitalization Plan Another Quarter of Continued Building on the strength of our core Progress Premiumizing our portfolio Expanding beyond beer 12
Slide 13: Chief Financial Officer Tracey Joubert
Chief Financial Officer Tracey Joubert 13
Slide 14: Consolidated First Quarter 2022 Results
Consolidated First Quarter 2022 Results +17.6% +10.2% +383.1% NSR NSR/HL – Underlying Income (constant currency) Brand Volume Basis before Income Tax (constant currency) (constant currency) KEY TAKEAWAYS Underlying COGS/HL increased 8.6% Underlying MG&A increased 15.7% NSR increased 17.6% due to str
Slide 15: Americas First Quarter FY 2022 Results
Americas First Quarter FY 2022 Results +8.6% +9.8% +9.0% NSR NSR/HL – Underlying Income (constant currency) Brand Volume Basis before Income Tax (constant currency) (constant currency) KEY TAKEAWAYS NSR/HL growth increased 9.8% Underlying MG&A increased due NSR increased 8.6% as net pricing growth a
Slide 16: EMEA & APAC First Quarter FY 2022 Results
EMEA & APAC First Quarter FY 2022 Results +92.3% +30.1% +62.1% NSR NSR/HL – Underlying Income (constant currency) Brand Volume Basis before Income Tax (constant currency) (constant currency) KEY TAKEAWAYS NSR increased 92.3% driven by financial NSR/HL increased due to positive Underlying COGS increa
Slide 17: Focused on Deleveraging the Balance Sheet
Focused on Deleveraging the Balance Sheet Effectively Paying Down Debt Acquires • Ended Q1 with net debt of $6.9 remaining ownership stake of MillerCoors JV billion, and repaid $500 million in from SABMiller 3.5% USD notes at their maturity on Net Debt to Underlying EBITDA May 1, 2022 StarBev Acquis
Slide 18: Reaffirming our 2022 Financial Outlook
Reaffirming our 2022 Financial Outlook Full Year Outlook • Mid-single-digit Net Sales Revenue growth, on a constant currency basis • High-single-digit Underlying Income before Income Tax growth, on a constant currency basis • Underlying Free Cash Flow of $1 billon, +/- 10% • Underlying Depreciation
Slide 19: Capital Allocation Priorities
Capital Allocation Priorities Reduce Net Debt Reaffirmed our target net debt to underlying EBITDA ratio to be below 3.0x by the end of 2022; Repaid our $500 million 3.5% USD notes upon maturity on May 1, 2022 using commercial paper and cash on hand Invest in Return Cash to Our Business Shareholders
Slide 20: Confident in our Strategy and Pleased with our Progress
Confident in our Strategy and Pleased with our Progress Driving Toward Sustainable Long-Term Top- and Bottom-Line Growth 20 20
Slide 21: Questions & Answers
Questions & Answers MOLSON COORS finvary
Slide 22: MOLSON -
MOLSON -
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