Royal Unibrew A/s · OMXCOP:RBREW
Royal Unibrew A/s — FY2023 Earnings Presentation
17 slides from Royal Unibrew A/s's earnings presentation, February 2024
Slide 1: Royal Unibrew: 2023 Results Presentation
Royal Unibrew: Copyright © Royal Unibrew. All rights reserved. 2023 Results Presentation Presented by Lars Jensen (President and CEO) and Lars Vestergaard (CFO) February 2024 1
Slide 2: Disclaimer
This annual report presentation contains forward-looking statements, including statements about the Group’s sales, revenue, earnings, spending, margins, cash flows, inventories, products, actions, plans, strategies, objectives and guidance with respect to the Group’s future operating results. Forwar
Slide 3: 2023 highlights
2023 highlights Building momentum Business scope Solid performance in through the year significantly expanded multi-beverage markets Copyright © Royal Unibrew. All rights reserved. Leader in ESG Successful product launches Continued expansion of partnerships 3
Slide 4: ESG highlights
ESG highlights • Market leading in no/low: • Volume increase for no/low alcoholic and non-alcoholic beverages (CSD, Energy and Water) outperform beverages with regular sugar and alcohol levels as well as strong beer • Reducing all Scope 3 emissions per HL compared to base year 2019: • Currently 44%
Slide 5: Organic net revenue growth
Organic net revenue growth Energy Premium Low / No Sugar Low / No Alcohol RTDs, Ciders, Enhanced Waters Cocktails Copyright © Royal Unibrew. All rights reserved. +5% 0% +32% +4% +1% +3% 5
Slide 6: 2023 results
2023 results Organic volume Organic net Organic EBIT EBIT Free NIBD / growth revenue growth growth margin cash flow EBITDA 2023 1,143 -3% 4% 7% 12.7% 2.9x results mDKK Copyright © Royal Unibrew. All rights reserved. 2022 577 results 1% 11% -14% 13.2% mDKK 2.2x 6
Slide 7: 2023 results continued
2023 results continued 2023 2022 Change % Volumes (mhl) 14.1 13.4 4% Net revenue 12,927 11,487 12% EBITDA 2,208 1,997 11% EBIT 1,638 1,516 8% Net financial expenses -232 -91 155% Remeasurement of Hansa Borg ... 360 N.M. Copyright © Royal Unibrew. All rights reserved. Tax -311 -294 6% Net profit 1,09
Slide 8: Significant net revenue growth unlocked by organic and inorganic growth
Significant net revenue growth unlocked by a combination of organic and inorganic growth activities and organic EBIT margin expansion Net revenue EBIT EBIT margin +13% +8% -0.5 % points 4.0% 12,927 7% 1% 1.638 0,4% 8.5% 13,2% 1.516 12,7% 11,487 -0.9% mDKK Copyright © Royal Unibrew. All rights reserv
Slide 9: New long-term target and focus
New long-term target and focus 9 Copyright © Royal Unibrew. All rights reserved.
Slide 10: The transformation has lead to significant additional growth potential
The transformation has lead to significant additional growth potential 2012: Pre-Hartwall acquisition in Finland 2020 (Lars Jensen becomes CEO): High market shares 2023: Significant growth potential; new markets added with limited growth opportunities and RU becoming more attractive to partners V V
Slide 11: Our capacity to manage growth has been strengthened
Our capacity to manage growth has been strengthened 2.5x 2.2x 3.4x Copyright © Royal Unibrew. All rights reserved. more people in more people in more people in Group Finance Group Procurement Group IT (2019-2024) (2019-2024) (2019-2024) 11
Slide 12: We have refined our operating model
We have refined our operating model: • Royal Unibrew’s commercial success is built on a combination of own local power brands and partnership brands • Key partnerships allow Royal Unibrew to offer a more complete multi-beverage portfolio in all core markets • A complete multi-beverage portfolio will
Slide 13: New long-term target
• Potential to unlock additional growth in new markets 6-8% organic • Royal Unibrew has become a “gateway to the Nordics” and is much more attractive to existing and EBIT growth new partners New long- • We expect to increase the EBIT • Keep building capacity term target V margin during the period •
Slide 14: Short-term outlook
• Net revenue of around DKK 15 billion • Organic EBIT growth of 5-15% equal to DKK 1,800-1,950 million including aquisitions • M&A is expected to contribute around DKK 80 million to EBIT Short-term • Net financial expenses, excluding currency-related losses or gains, of outlook around DKK 350 millio
Slide 15: Management agenda
• Execute on integration of acquisitions: Continued integration of Norway, Netherlands and Italy • Drive efficiency improvements across all operations Management • Expanding and optimizing production set-up agenda • Monitor and react to possible changes in consumer behavior Copyright © Royal Unibrew
Slide 16: Q&A Session
Q&A Session 16 Copyright © Royal Unibrew. All rights reserved.
Slide 17: End: Royal Unibrew: 2023 Results Presentation
End: Royal Unibrew: Copyright © Royal Unibrew. All rights reserved. 2023 Results Presentation Presented by Lars Jensen (President and CEO) and Lars Vestergaard (CFO) February 2024 17