Societe Commerciale De Brasserie · EURONEXT:COBH

Societe Commerciale De Brasserie — Brouwerij Haacht — Shareholder Meeting (May 2026)

55 slides from Societe Commerciale De Brasserie's shareholder meeting presentation, May 26, 2026

  1. Slide 1: Strategy Horizon 2030 & Outlook

    STRATEGY HORIZON 2030 & OUTLOOK CEO NILS VAN DAM GENERAL ASSEMBLY - 26TH OF MAY 2026

  2. Slide 2: What we will cover

    A G E N D A What we will cover. 01 MARKET HEADWINDS A declining beer market, intensifying competition 02 HAACHT TODAY Structural challenges - and the strengths of the biggest of the small 03 HORIZON 2030 Our strategy: ambition, focus, simplification, customer 04 FIRST RESULTS Q1 2026 - proof the pla

  3. Slide 3: Heavy headwinds

    S E C T I O N 0 1 Heavy headwinds. 0 3

  4. Slide 4: Declining market, declining pubs, fierce competition

    H e a v y H e a d w i n d s 01 02 03 04 Fierce Geopolitical Declining market Declining #pubs competition uncertainty

  5. Slide 5: Haacht Today

    0 2 Haacht Today. 0 3

  6. Slide 6: Long term decline of turnover and volume

    H a a c h t T o d a y 01 02 03 04 Long term decline Operational Systems & of turnover & Too high costs inefficiencies & processes with volume high complexity low maturity

  7. Slide 7: Biggest of small brewers

    H a a c h t T o d a y BIGGEST OF SMALL BREWERS Despite structural problems on top of market adversity

  8. Slide 8: Biggest of the small brewers

    Biggest of the small brewers Belgian brewery revenue 2024 (€M) AB InBev (global) €58,372M Duvel Moortgat €617M Alken Maes €343M Martens €236M Haacht €102M Palm (2023) €70M Van Honsenbrouck €52M Huyghe €44M Omer Vanderginste €42M Westmalle €34M Lindemans €32M De Brabandere €29M Source: company filing

  9. Slide 9: Horizon 2030

    0 3 Horizon 2030. 0 3

  10. Slide 10: Strong ambition

    H o r i z o n 2 0 3 0 STRONG AMBITION Create a profitable & sustainable future for brewery Haacht: → Deliver 20% REBITDA in 203O

  11. Slide 11: Haacht below industry median

    Haacht below industry median Brewery EBITDA margin 2024 (%) ,EU industry median 14.8% AB InBev 34% Duvel Moortgat 25% Westmalle 24% Omer Vanderginste 22% Van Honsenbrouck 18% Huyghe 14% Lindemans 13% Royal Swinckels (Palm) 10% Alken Maes 9% Martens 8% Haacht 7% EU median 14.8%

  12. Slide 12: Clock speed

    H o r i z o n 2 0 3 0 CLOCK SPEED Dramatic acceleration of decision & execution speed

  13. Slide 13: Growing brewery Haacht

    H o r i z o n 2 0 3 0 GROWING BREWERY HAACHT

  14. Slide 14: 7 levers of growth

    H o r i z o n 2 0 3 0 7 LEVERS OF GROWTH Build our 5 International Focus Brands Grow in keg beer value price segment Continue to grow France Turnaround Horeca Belgium Grow retail Belgium (& France) Grow The Netherlands Re-define our export model

  15. Slide 15: Grow with 5+1 focus brands

    H o r i z o n 2 0 3 0 GROW WITH 5+1 FOCUS BRANDS With more marketing investment

  16. Slide 16: International brand portfolio

    STRATEGY International brand portfolio Pils Specialty Abbey & heritage

  17. Slide 17: Step up innovation in 0.0 and kegs

    H o r i z o n 2 0 3 0 STEP UP INNOVATION IN 0.0 AND KEGS

  18. Slide 18: Grow volume with focus on France, Netherlands and retail

    H o r i z o n 2 0 3 0 GROW VOLUME WITH FOCUS ON FRANCE, NETHERLANDS AND RETAIL

  19. Slide 19: Simplify

    H o r i z o n 2 0 3 0 SIMPLIFY Reduce complexity and drive €14.5 mio cost savings

  20. Slide 20: Important savings potential (identified)

    Important Savings Potential (Identified) Gross Recurrent Savings in 2030 Ambitious 2030 Full execution, best case €17.0M De-risked 2030 Realistic with contingency €14.5M Internal estimate · all figures in mio € · scenarios reflect varying assumptions on execution & market

  21. Slide 21: Become customer centric

    H o r i z o n 2 0 3 0 BECOME CUSTOMER CENTRIC Win together with our customers

  22. Slide 22: Golden triangle of successful pubs

    H o r i z o n 2 0 3 0 STRONG PUB MANAGER KEY DRIVER GOLDEN TRIANGLE OF SUCCESFULL PUBS LOCATION EXPERIENCE TRAFFIC, TRENDING SERVICE, ASSORT, ACTIVATE

  23. Slide 23: Strong partnership with our wholesalers

    H o r i z o n 2 0 3 0 STRONG RELATIONSHIPS WIN WITH WINNING CUSTOMERS STRONG PARTNERSHIP WITH OUR WHOLESALERS & GROUPMENTS WHOLESALE PROFIT PRODUCTS & SERVICES TARIFICATION & INCENTIVES BRANDS, PROMOS, OTIF

  24. Slide 24: From obliging to farming & hunting

    H o r i z o n 2 0 3 0 Becoming customer centric FROM OBLIGING TO FARMING & HUNTING

  25. Slide 25: Partnering with our customers

    H o r i z o n 2 0 3 0 Becoming customer centric PARTNERING WITH OUR CUSTOMERS

  26. Slide 26: More hunting for new pubs & more keg lines

    H o r i z o n 2 0 3 0 Becoming customer centric MORE HUNTING FOR NEW PUBS & MORE KEG LINES

  27. Slide 27: Grow value in real estate

    H o r i z o n 2 0 3 0 GROW VALUE IN REAL ESTATE MANAGE REAL ESTATE & BREWING AS SEPARATE THOUGH SYNERGISTIC BUSINESSES

  28. Slide 28: Grow value in real estate

    H o r i z o n 2 0 3 0 GROW VALUE IN REAL ESTATE Grow value in Reduce risk & real estate protect value Dedicated real Brewing & real estate estate team interrelationship

  29. Slide 29: Real estate asset mapping & valuation

    H o r i z o n 2 0 3 0 REAL ESTATE ASSET MAPPING & VALUATION INITIATED IN 2026 BY MANAGEMENT O B J E C T I V E R E N T A L I N C O M E 2 0 2 5 Optimized brewery & real estate management €14.8M total - €8.8M of owned properties • Real estate management transferred to Co.Br.Ha. • Decline of −2.8% (€0.4

  30. Slide 30: Strong values to win in the market

    H o r i z o n 2 0 3 0 STRONG VALUES TO WIN IN THE MARKET AIM HIGH BE COURAGEOUS BE CONNECTED

  31. Slide 31: First results: Q1

    0 4 First results: Q1 0 3

  32. Slide 32: Strengthening our brands

    F i r s t r e s u l t s Q 1 STRENGTHENING OUR BRANDS

  33. Slide 33: Super 8

    SUPER 8

  34. Slide 34: Primus

    PRIMUS

  35. Slide 35: Volume growth of own brands

    F i r s t r e s u l t s Q 1 VOLUME GROWTH OF OWN BRANDS

  36. Slide 36: Volume evolution - beer & softdrinks

    PERFORMANCE - BROUWERIJ HAACHT Volume-evolution - beer & softdrinks Year-over-year volume change (%) 2% 0,8% 0,2% 0% -2% -4% -4,7% -6% -8% -8,4% -10% 2023 2024 2025 Q1 2026 Source: internal volume data Brouwerij Haacht · 2025 preliminary · Q1 2026 trailing

  37. Slide 37: Volume evolution focus brands (5+1)

    PERFORMANCE - FOCUS BRANDS Volume Evolution Focus Brands (5+1) Year-over-year volume change (%) 6% 4,4% 4% 2% 0,1% 0% -2% -4% -4,2% -6% -8% -7,7% -10% 2023 2024 2025 Q1 2026 Source: internal volume data Brouwerij Haacht · 2025 preliminary · Q1 2026 trailing

  38. Slide 38: Complexity reduction

    F i r s t r e s u l t s Q 1 COMPLEXITY REDUCTION

  39. Slide 39: Complexity reduction: from 396 to 188 SKUs

    PORTFOLIO STRATEGY Complexity reduction: From 396 to 188 SKUs 13 26 75 178 -52% 39 123 130 178 SKU → 123 SKU 130 SKU → 39 SKU From 396 SKUs To 188 SKUs 75 SKU → 26 SKU 13 SKU → 0 SKU

  40. Slide 40: Customer centric

    F i r s t r e s u l t s Q 1 CUSTOMER CENTRIC SUCCESFULL IMPLEMENTATION OF NEW TARIFICATION MODEL & GAINING OF NEW PUBS (HALLES ST GERY) Haacht ©2026 Brouwerij

  41. Slide 41: New tarification

    F i r s t r e s u l t s Q 1 NEW TARIFICATION

  42. Slide 42: Gaining of new pubs

    F i r s t r e s u l t s Q 1 GAINING OF NEW PUBS Haacht ©2026 Brouwerij

  43. Slide 43: Towards perfect execution: 4T's

    F i r s t r e s u l t s Q 1 TOWARDS PERFECT EXECUTION: 4T’S TABLE TAP TERRACE BAR Haacht ©2026 Brouwerij

  44. Slide 44: Savings delivery

    F i r s t r e s u l t s Q 1 SAVINGS DELIVERY 50+ active projects, € 4,8 gross recurrent savings. Full on track & landing in 2026 Haacht ©2026 Brouwerij

  45. Slide 45: Important savings potential identified

    Important Savings Potential Identified €4,8m gross recurrent savings already realised Ambitious 2030 Full execution, best case €17,0M De-risked 2030 Realistic with contingency €14,5M Delivery 26 4,8 gross recurrent savings €4,8M realised Internal estimate · all figures in mio € · scenarios reflect v

  46. Slide 46: Workforce evolution: restructuring delivers a leaner team

    Workforce evolution: restructuring delivers a leaner team Workforce evolution - FTE snapshots 388 375 366 311 295 jan/23 jan/24 jan/25 jan/26 May 26 Source: HR turnover recap 2024-2026 · January snapshot (FTE / VTE)

  47. Slide 47: Real estate

    F i r s t r e s u l t s Q 1 REAL ESTATE 45 non strategic pubs identified & 14 already sold (end Q1)

  48. Slide 48: Q1 results

    F i r s t r e s u l t s Q 1 Q1 RESULTS VOLUME GROWTH AND INCREASED REBITDA

  49. Slide 49: P&L: Q1 2026

    F i r s t r e s u l t s Q 1 P&L: Q1 2026 Q1 26 (mio €) vs Q1 25 % On-invoice revenu 22.6 +0.1 +0.5% REBITDA - operational profit 2.0 +0.9 +81.3% EBIT - profit before taxes and interests −2.0 +0.2 +8.2% Incl Canada & LGB · excl accijnzen · alle bedragen in mio € · vergelijking t.o.v. Q1 2025

  50. Slide 50: Strategic direction 2026

    0 5 STRATEGIC DIRECTION 2026 0 3

  51. Slide 51: Focus 26

    O u t l o o k 2 0 2 6 FOCUS 26: 1. GROW VOLUME BEHIND OUR FOCUS BRANDS 2. DELIVER SAVINGS IN FULL 3. SIMPLIFY OUR PROCESSES → CUSTOMER IN THE CENTRE 4. PERFECT EXECTUION OF HORECA STRATEGY

  52. Slide 52: We are on track to deliver, but the race has just started

    O u t l o o k 2 0 2 6 WE ARE ON TRACK TO DELIVER, BUT THE RACE HAS JUST STARTED

  53. Slide 53: Grow our people

    F i r s t r e s u l t s Q 1 GROW OUR PEOPLE

  54. Slide 54: Strong values to win in the market

    H o r i z o n 2 0 3 0 STRONG VALUES TO WIN IN THE MARKET AIM HIGH BE COURAGEOUS BE CONNECTED

  55. Slide 55: Thank you

    THANK YOU THANK YOU QUESTIONS?

Brouwerij Haacht — Shareholder Meeting (May 2026) on 6ix