Becle, S.a.b. De C.v. · BMV:CUERVO
Becle, S.a.b. De C.v — Santander's 28th Mexico Conference 2024
19 slides from Becle, S.a.b. De C.v's conference presentation, Jan 17, 2024
Slide 1: Santander's 28th Mexico Conference – Investor Presentation
Santander's 28th Mexico Conference – Investor Presentation Becle, S.A.B de C.V. January 17-18 2024
Slide 2: Becle: A Leading Global Spirits Company and Undisputed Leader in Tequila Worldwide
Becle: A Leading Global Spirits Company and Undisputed Leader in Tequila Worldwide Becle Today Diversified Product Portfolio with Over 30 Brands 2022 Key Figures Exposure to the Right … With the Right High-Growth 27.4MM • Undisputed leader in tequila globally, Geographies… Categories of 9 Liter Case
Slide 3: Becle's Outstanding Performance Makes it Today a Larger Company than in 2015
Becle's Outstanding Performance Makes it Today a Larger Company than in 2015 2015 LTM 3Q23 18.2MM 1.5X 27.3MM of 9 Liter Cases of 9 Liter Cases NSV/Case (1) US$51 NSV/Case (1) US$94 933 MM 2.7X 2,553 MM Net Sales (US$) (2) Net Sales (US$) (2) Focus on brand premiumization Net Sales by Region 246 MM
Slide 4: Our Company
Our Company 1 Undisputed Global Leader in Tequila and #2 in Irish Whiskey 2 Dominant Position in the Hottest Spirits Category… 3 …And a Privileged Competitive Position… …In High-Growth Spirits Categories Through an Extensive Product 4 Portfolio with Focus on Premiumization Proven Agility and Innovat
Slide 5: Undisputed Global Leader in Tequila and #2 in Irish Whiskey
1 Undisputed Global Leader in Tequila and #2 in Irish Whiskey Global Leader in Tequila… ... In Every Region As of 2022 Volume – Total Market Size 46.7MM 9L Cases As % of volume - 2022 United States (56% of 2022 Global Volume) 29.8% 1ST 22.5% 12.4% Owner of 3 of Top 6 Leading Tequila brands by Rest o
Slide 6: Dominant Position in the Hottest Spirits Category…
2 Dominant Position in the Hottest Spirits Category… Since Last Issuance, Tequila has… A …Been the Fastest Growing Major Spirits Category in the US and Second Fastest in the World B …Significantly Increased its Market Share (2017 - 2022 9L cases volume CAGR) (In terms of 9L cases volume) Tequila ove
Slide 7: …And a Privileged Competitive Position…
3 …And a Privileged Competitive Position… High Barriers of Entry Provided by Becle’s Vertical Integration and Own Distribution Agriculture Production Distribution Competitive Advantage Resulting from Appellation of Flagship Distilleries and Bottling Facilities Support Own Distribution Platform to Co
Slide 8: … In the Right Categories & Markets…
4 … In the Right Categories & Markets… Exposure to Dynamic Regions and Categories Spirits Growth | 2017-2022 9L cases Volume CAGR (1) (2) 73% of Becle’s Sales are in Tequila & Irish Whiskey 60% of Becle’s Sales are in the U.S. & Canada 12.3% 8.6% 8.0% 6.1% 2.7% (2.2%) (3) Tequila Irish Whiskey Total
Slide 9: … Through an Extensive Product Portfolio with Focus on Premiumization
4 … Through an Extensive Product Portfolio with Focus on Premiumization Diversified Brand Portfolio Net Sales by Category Jose Cuervo Family 1800 Other By value as of 2022 Tequila Prestige Super Premium Super Premium/ Premium Super Premium Ultra Premium Ultra Premium Irish Whiskey U.S. Whiskey Tequi
Slide 10: Proven Agility and Innovation Driving a Resilient Business Model
5 Proven Agility and Innovation Driving a Resilient Business Model with High Operating Cash Generation Capacity Becle’s Agile & Innovative Business Model is a Key Driver of its Outperformance Net Sales Y-o-Y | (%) 32.1% Becle’s resiliency proven in 2022 results 20.6% 18.5% 17.9% 16.0% 12.5% 9.7% 8.5
Slide 11: Best-in-Class Capital Structure & Prudent Financial Policy
6 Best-in-Class Capital Structure & Prudent Financial Policy Whilst Delivering Consistent Growth Best-In-Class Credit Metrics Total Debt / Market Cap (1) Total Debt / 2022 EBITDA 18.1% 18.1% 3.3x 3.1x 2.9x 10.4% 11.0% 1.8x 1.8x 7.1% 1.3x 4.9% Campari Brown Forman Remy Cointreau Pernod Ricard Diageo
Slide 12: Renowned Family Heritage and Strong Corporate Governance
7 Renowned Family Heritage and Strong Corporate Governance Becle is a Global Spirits Company with a Profound Family Heritage Ownership • Founded in 1758, Becle is today an 11th generation managed spirits company Public Float 13% • Public company since 2017 and part of the S&P/BMV IPC index ─ Market
Slide 13: Strong ESG Driven Culture
8 Strong ESG Driven Culture Our ESG (Environmental, Social and Governance) strategy is based on clear and defined business values and actions divided in three pillars for a sustainable future: i) Sustainable Governance, ii) From Source to Market and iii) Looking After Our People Awards, Recognitions
Slide 14: Becle's Environmental Initiatives are Aligned to the UN Sustainable Development Targets
8 Becle’s Environmental Initiatives are Aligned to the UN Sustainable Development Targets and to the Global Compact SDG Alignment Sustainable Agriculture Biodiversity Sustainable Sourcing Traceability of our agave plantations, Allowing local fauna to perform Sourcing of most of our guaranteeing non-
Slide 15: Financial Statements
Financial Statements 14
Slide 16: Consolidated Statements of Comprehensive Income
Consolidated Statements of Comprehensive Income Annual Nine months ended September 30th Last 12 months 2022 2022 % of net sales 2023 % of net sales 2023 2023 in US$ (1) Net sales 45,729 31,929 31,190 44,991 2,553 Cost of goods sold 20,642 14,783 46.3 15,640 50.1 21,499 1,220 Gross profit 25,087 17,1
Slide 17: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position As of September 30th 2022 2023 2023 in US$ (7) Assets Cash and cash equivalents 4,521 4,024 228 Trade receivables 11,812 9,382 532 Inventories (1) 18,258 18,587 1,055 Other assets (2) 4,892 7,145 406 Total current assets 39,483 39,138 2,221 Inventories (
Slide 18: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows Annual 9 months ended September 30th Last 12 months 2022 2022 2023 2023 2023 in US$ (1) Operating activities: Income before income taxes 8,231 6,317 3,849 5,763 327 Adjustment from items not implying cash flows: Depreciation and amortization 953 642 796 1,107 63
Slide 19: Full Year 2023 Guidance
9 Full Year 2023 Guidance As of January 17th, 2024 • Items provided below are based on the Company's current estimates and are not a guarantee of future performance. • There could be significant risks and uncertainties that could cause actual results to differ materially, including the risk factors
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