C&c Group Plc · LSE:CCR
C&c — FY2026 Earnings Presentation
35 slides from C&c's earnings presentation, May 19, 2026
Slide 1: FY2026 Full Year Results
FY2026 FULL YEAR RESULTS 19 May 2026 _ . oa
Slide 2: Agenda
agenda 01 FY2026 Highlights 02 Financial Performance 03 Strategic Update and Operational Review 04 05 Summary and Outlook Q&A 2
Slide 3: FY2026 Highlights
FY2026 HIGHLIGHTS 3
Slide 4: Encouraging strategic and operational progress
FY2026 | encouraging strategic and operational progress IN CHALLENGING MARKET CONDITIONS PROGRESS MADE ACROSS KEY AREAS SET OUT AT START OF YEAR Tennent’s (i) and Bulmers Free-cashflow generation of A year of operational stabilisation in market share gains (ii) €45.3m(iii) supporting disciplined cap
Slide 5: Financial Performance
cac group ple ah @ _ FINANCIA mehERFORMA CE Ne.
Slide 6: Headline financials
Headline financials vs FY2025 €m FY2026 FY2025 Net Revenue 1,569.8 1,665.5 (5.7%) Adjusted EBITDA 104.3 112.0 (6.9%) Operating Profit before Exceptional Items 70.5 77.1 (8.6%) Operating Margin * 4.5% 4.6% (0.1 % ppts) Adjusted Profit Before Tax 49.8 55.9 (10.9%) Adj. Earnings per Share 10.2c 11.7c (
Slide 7: Net Revenue Bridge
Net Revenue Bridge Branded +4% Distribution –8% 1,800.0 27.5 13.9 1,600.0 16.6 120.5 1,400.0 1,200.0 1,000.0 €m 1,665.5 800.0 * 1,569.8 600.0 400.0 200.0 0.0 FY2025 Branded volumes Branded price / mix Distribution volumes Distribution price / mix FY2026 Core brand value growth offset by wider market
Slide 8: Operating Profit Bridge (pre-exceptional items)
Operating Profit Bridge (pre-exceptional items) 90.0 7.5 80.0 2.7 2.6 70.0 8.8 60.0 50.0 €m €m €m Branded 46.1 Branded 51.0 40.0 * 77.1 Distribution 31.0 Distribution 19.5 70.5 77.1 70.5 30.0 20.0 10.0 0.0 FY2025 Branded volumes Branded price / mix / other Distribution volumes Distribution price / m
Slide 9: Cost outlook
Cost outlook Unit Cost Movement Cost FY27 Estimate FY26 OPEX Breakdown Manufacturing Manufacturing input costs input cost 9% Aluminium Distribution costs Utilities 9% Overheads Glass Cost change key 8% Sugar / Glucose Boxes / Board Cereals Unit cost inflation Other input costs Unit cost broadly flat
Slide 10: Free Cash flow (pre-exceptional items)
Free Cash flow (pre-exceptional items) €m FY2026 FY2025 vs FY2025 Adjusted EBITDA 104.3 112.0 (7.7) Net capital expenditure (13.0) (18.5) 5.1 Working capital movement (21.1) 6.6 (27.7) Tax received / (paid) 0.1 (7.1) 7.2 Net finance costs paid (20.7) (21.0) 0.4 Other (4.3) (3.2) (0.8) Free Cash Flow
Slide 11: Net Debt
Net Debt €m FY2026 FY2025 Net Borrowings (121.4) (80.9) Leases (139.0) (131.4) Total Net Debt (260.4) (212.3) Leverage Pre IFRS16 1.6x 0.9x Leverage Post IFRS16 2.5x 1.9x Debt Facilities Expiry Facility Drawn RCF January 2030 €250m €59.2m Term Loan January 2030 €100m €100m Private Placements 2030/32
Slide 12: Capital Allocation
Capital Allocation Strong cash generation characteristics Allocated to... Tight working capital management Ordinary dividend Modest maintenance capex requirements Share buybacks / special dividends Stable finance costs and tax rate Strategic growth capital optionality Disciplined capital allocation
Slide 13: Strategy update and operational review
STRATEGY update and operational review 13
Slide 14: Current Market Dynamics
CURRENT Market Dynamics CONSUMER CHANNEL PRODUCT • Discretionary spending impacts • Cost pressures mounting for hospitality • Category trends continue • Frequency of social consumption • Earlier On-Trade occasions trend • Strength in established brands occasions reducing • Widespread price competiti
Slide 15: Progress over past 12 months
PROGRESS over Past 12 months LAYING STRATEGIC FOUNDATIONS Completed a full financial Progressed Refreshed senior allocation exercise with view to Core financial control and management in Executive create clear separate cost risk programme Committee structures New approach to Initiated a drive on Foc
Slide 16: Our Executive Committee
OUR EXECUTIVE committee Adam Phillips Paul Graham Karen Bates Andrea Pozzi Cara Chambers Carole Kingsbury Chief Financial Officer Chief Commercial Officer Chief People Officer Chief Operations Officer Chief Marketing Officer Chief Technical Officer Prior Experience Prior Experience Prior Experience
Slide 17: Data DNA programme
Data dna programme OUR REALITY OF WRANGLING DATA TODAY … Data structure 1 Data structure 2 Data structure 3 Data structure 4 Data structure 5 Data structure 6/7 Data structure Excel 9/10/11 JDE: JDE: JDE: JDE: Netsuite: AS400/Prism TCB and Wallaces Magners GB Tennent’s NI Matthew Clark Bibendum Off
Slide 18: Current business construct – FY2026
CURRENT BUSINESS CONSTRUCT – FY2026 Segmental reporting BRANDED DISTRIBUTION EBIT €51.0m EBIT €19.5m 16.5% EBIT Margin 1.5% EBIT Margin 1.9 mhl 3.2 mhl MCB plus Scotland and Ireland Wholesale 18 brands c.6,000 SKUS Omnichannel Hospitality focused BRAND VOLUME MIX MCB VOLUME MIX 55% 45% 64% 15% 13% B
Slide 19: Groundwork for business separation and renewed focus
Groundwork for business separation and renewed focus C&C Brands Matthew Clark Bibendum Procure Procure Manufacture Trade Market/ Category Vertically integrated, Development Wholesale model, wine Market brand-led wholesale model agency and private label Channels Channels Scotland and IOI On-Trade, On
Slide 20: A diversified, growth generating portfolio
A DIVERSIFIED, GROWTH GENERATING PORTFOLIO THREE DISTINCT segments CREATING A SINGLE, POWERFUL BRAND-LED ECOSYSTEM CORE BRANDS PREMIUM BRANDS HERITAGE BRANDS Scale and Reach Growth Trading Power brands that deliver scale, category Differentiated premium challenger Longstanding brands with Role in le
Slide 21: C&C Brands: significant existing capacity
C&c BRANDS: significant existing capacity WELLPARK BREWERY CLONMEL GLASGOW, SCOTLAND TIPPERARY, IRELAND Brewing Cider Production Canning Canning Kegging Kegging Bottling Bottling PET AVAILABLE CAPACITY AND 3m hl Cider Production 3m hl Brewing Capacity AGILE MOBILISATION Capacity 4ml hl Packaging Cap
Slide 22: Matthew Clark Bibendum manages the UK's largest in-house on-trade supply chain
Inverness Kintore Matthew Clark Bibendum manages the UK's largest in-house supply chain in the On-Trade Cambuslang Dumfries Boldon We deliver We supply circa 172 million+ 15,000 venues per Wetherby litres annually year Runcorn Grantham We process circa We operate Birmingham 600,000 orders per nation
Slide 23: MCB Recovery: Path to rebuild a sustainable margin
MCB Recovery: Path to rebuild a Sustainable margin EBIT 3% – 4% EBIT 1% – 2% Reshaping our portfolio and reducing complexity Redefining our service proposition Developing renewed partnerships with Operational improvement brand owners focus and cost competitiveness Strengthening commercial performanc
Slide 24: Industry consolidation anticipated – corporate and operational
Industry consolidation Anticipated – Corporate and Operational Fragmented Market Structure Rising costs Customer Service Expectations Overlapping capabilities and Margin pressures across the value Demand for national coverage and increasingly underutilised capacity chain, shrinking profit pools broa
Slide 25: Strategy Summary
Strategy Summary Complete operational separation Margin recovery in MCB underway Volume growth in C&C brands underway Capital Markets Day in September 2026 25
Slide 26: Operational Review
OPERATIONAL REVIEW cac group ple “#8:
Slide 27: Tennent's
Tennent’s Tennent's outsells the rest of the top 10 best-selling beers combined in the Scottish on trade(i) Tennent's Share of Beer (Volume) (ii) Tennent's Share of Lager (Volume) (ii) FY2026 +3.1 ppts vs PY -0.4 ppts vs PY +3.8ppts vs PY -0.5ppts v PY Net-revenue €121.7M 40.5% 20.3% 55.1% 24.0% +0.
Slide 28: Bulmers
Bulmers In the Irish On-Trade Bulmers is 3 times the size of the nearest competitor (i) Bulmers Share of Cider (Volume) (i) & (ii) FY2026 -0.6 ppts vs PY +1.5 ppts vs PY Net-revenue €65.1M Ireland’s N0.1 59.2% 56.8% +2.6% vs PY cider On Off Bulmers grew volume at 1.7% for full year(iii) (i) CGA OPM,
Slide 29: Magners
MAGNERS • Launched Magners largest ever campaign ‘Magnertism’ across TV, OOH, digital, social – driving +3.5ppt lift in awareness, +1.9ppt in consideration(i) • In GB Off trade – Magners Original grows volume across all time periods (+1.5% YOY) (ii) • In GB On-Trade, Magners pint bottle was the fast
Slide 30: Premium Beer and Cider
Committed brand investment in premium beer and cider delivering sustained growth Premium Beer and Cider Strong value growth in FY2026 Near term Growing Premium World Lager and Apple Cider categories in GB On Trade (i) 9.3% target 15% of Branded Net of Branded Revenues portfolio of Net Revenues premi
Slide 31: Innis & Gunn
INNIS & GUNN • Innis & Gunn brand and associated global intellectual property acquired in March 2026. • The brand’s range of premium beers and ales is complementary to our existing portfolio and will utilise established production capability, routes to market and infrastructure. • The brand adds >65
Slide 32: Raising our bar on sustainability
At C&C Group, we strive for better, with a sustainability strategy focusing on RAISING OUR BAR Delivering for our Planet and People, with Integrity at our core and Performance in every drop. ON SUSTAINABILITY 11% reduction in Scope 1 and 2 carbon emissions against 4% target Investment in electric bo
Slide 33: Summary & outlook
Summary & outlook FY26 - A year of stabilisation in difficult macro market conditions Improvement initiatives across the Group Clear refreshed strategic direction established New Executive team in place Current trading in line with expectations Capital Markets Day in September 2026 33
Slide 34: Q&A
Q&A 34
Slide 35: 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