Kofola Ceskoslovensko As · PSECZ:KOFOL
Kofola Ceskoslovensko As — Investor Presentation (September 2024)
62 slides from Kofola Ceskoslovensko As's investor presentation, Sep 23, 2024
Slide 1: Kofola Group Investor Presentation
23 SEPTEMBER 2029 KOFOLA GROUP INVESTOR PRESENTATION
Slide 2: Kofola Group
KOFOLA GROUP Is today one of the most important beverage producers in Central and Eastern Europe. Py CZK 5.22 bn * « 9 (EUR 208.6 m) * G Revenue 6M 2024 Ww CZK 867.3 m & (EUR 34.7 m) EBITDA 6M 2024 g Headquarters 14 ’ Onan Production plants en] ‘ 2,700+ a Employees we
Slide 3: Our roots are in Czechoslovakia
OUR ROOTS ARE IN CZECHOSLOVAKIA . Production plants @ Offices Mnichovo Hradisté B. Ondragovka ‘ + - - & S Moravsky Beroun ® Agricultural sites Straz “6. Hanugovice nN Krnov KORUNNi Frehal a Slatifiany mg @ ae Ostrava Libina fe] or ° . w a Jailovice cg Fis] @ Novy jiéin Plzen Pierov mig, -@- Rajecka
Slide 4: The Group's long-term ambition
THE GROUPS LONG-TERM AMBITION IS TO BE THE MARKET LEADER a, oO ® w wo Ea - CZECHIA SLOWAKIA SLOWENIA CROATIA Vv VY VY ¥ 2 1 2 Soft drinks market position
Slide 5: Our beverage portfolio covers all categories
OUR BEWERAGE PORTFOLIO COVERS ALL CATEGORIES Category Most important own brands oe icence brands wt Q @ Carbonated Beverages AAd a Waters eVian _ VINCENTKA Syrups @ Fresh & Salad Bars & Beers & Ciders @ . Other semrex '2mixa ‘vending
Slide 6: Long-term development
LONG-TERM DEWELOPMENT Revenue* (CZKm) = Excl. acquisitions 10,535 8,690 7,875 0 6.172 6,636 8,690 6,525 2020 2021 2022 2023 LTM6M 2024 Grey chart represents an acquisition effect between two subsequent periods. * Adjustedfor one-offs. -®-EBITDA margin 16.7% EBITDA* (czKm) 17.0% 16.1% 14.1% 14.4% 712
Slide 7: Highlights
HIGHLIGHTS Balanc IMUNITA Posilent imunity & regenerace organismu Semtex introduced new product. This sparkling energy drink is perfect for its target audience aged 18-35. Semtex AIR is here for everyone who needs an extra dose of energy for their activities. You can find it in both sweet and sugar-
Slide 8: Our sustainability efforts
Slide 9: Protection of water sources
0” La SOS Protection of i ~taa 0% water sources We believe in Local materials Waste utilization Smart packaging solution y=: friendly production processes Ag A
Slide 10: We strive to preserve water resources for future generations
= He WWESTRIVETOPRESERVEWATER. =~ RESOURCES FOR FUTURE GENERATIONS o4 ; In Rajecka Lesna and around OndraSov, together with local authorities and farmers, we are creating BIO certified sites. We take care of nature wherever we are at home. In Slovakia, we established an organisation to support lands
Slide 11: Quality ingredients, which we learn to grow ourselves
QUALITY INGREDIENTS, WHICH WE Ve WE LOOK FOR DIRECT SOURCES OF LEARN T0 GROW OURSELWES We grow our own herbs We’re breaking into apple In 2023, we acquired a share and use them in our drinks. growing. We planted in the coffee plantations in We prefer local ingredients a special variety for Colombia,
Slide 12: Modern technologies that ensure quality and healthiness
MODERN TECHNOLOGIES THAT Ve BEWERAGES ARE PRODUCED USING ENSURE uUALITY AND HEALTHINESS Thanks to High Pressure Pascalization, UGO juices do not lose their colour, taste or vitamins and last The filling of beverages on the aseptic line takes place in a sterile environment. As aresult, no preservativ
Slide 13: Reduce-reuse-recycle approach to packaging
WE TAKE A REDUCE-REUSE-RECYCLE APPROACH TO PACKAGING REDUCE es We don’t pack 75 million draft pints at all. We lighten PET packaging. REUSE We prefer We use returnable 1g | reusable bottles and porcelain packaging. tableware in HoReCa. POVRATNA tz) [sts! RECYCLE Thanks to deposit return 7) systems w
Slide 14: Waste is not the end for us, but often the beginning
er WASTE IS NOT THE END FOR US, (> BUT OFTEN THE BEGINNING The best waste is the waste Together with Biopekarna We give new life to old that does not happen. We use Zemanka, we can bake parasols. We can make reusable transport packaging healthy biscuits from the practical bags out of them.. as well
Slide 15: Vision 2030
VISION 2030 . YQ ways Sustainability Healthy Ce) Support for localities and agriculture products ® 09 o OV0lid = householder Customer’s first choice Independent and happy people
Slide 16: Kofola Group Results
KOFOLA GROUP RESULTS _— Ye
Slide 17: Kofola Group key 2Q 2024 financial indicators
KOFOLA GROUP KEY 2Q 2024 FINANCIAL INDICATORS Revenue (CzKm) Revenue per main business segments** (CZKm) 3,129 1898 sco m2Q24 92923 2,340 478 476 2Q24 2Q23 CzechoSlovakia Adriatic Beers & Ciders Fresh & Herbs EBITDA (czkm) EBITDA per main business segments** (czKm) Profit/(loss) for the period (czKm
Slide 18: Kofola Group key 6M 2024 financial indicators
KOFOLA GROUP KEY 6M 2024 FINANCIAL INDICATORS” Revenue (CZKm) Revenue per main business segments** (cZKm) FCF (czkm) 5,219 3,315 4,053 2,915 meM24—- w6M23. 23t 225 786 _ a 6M24 6M23 CzechoSlovakia Adriatic Beers &Ciders Fresh & Herbs 6M24 6M23 EBITDA (czKm) EBITDA per main business segments** (czKm)
Slide 19: Revenue by product line
REWENUE BY PRODUCT LINE Revenue QTD by product lines (czKm) 1,018 m2Q24 m2Q23 884 892 go7 Q Q 472. 152 127 262 197 Carbonated beverages Waters Non-Carbonated Syrups Beers & Ciders Fresh bars & Salads Other beverages Revenue YTD by product lines (czkm) 1,745 ™6M24 6M23 1,504 1,502 1 369 Carbonated be
Slide 20: Revenue by countries
REWENUE BY COUNTRIES Revenue QTD by countries (czkm) 1,808 m2Q24 §2Q23 106 at 129 54 a Det bgp Czech Republic Slovakia W Slovenia S croatia w Poland Other Revenue YTD by countries (czKm) 3,024 m6Me4 § 6M23 156 48 196 O1 a a we Czech Republic Slovakia W Slovenia S croatia w Poland Other 20
Slide 21: Key messages
KEY MESSAGES" ¢ Group‘s revenue increased by 788.2 CZKm (33.7%). ¢ Group‘s EBITDA higher by 239.6 CZKm (66%). ¢ Favorable results connected also with finalization of acquisition of breweries. © Volumes higher by 6.8% (CS and Adriatic segment) in 2Q24. COSTS DEVELOPMENT ¢ Decreased costs on sweetener
Slide 22: Business segments
Slide 23: Our business consists of four main segments
OUR BUSINESS CONSISTS OF FOUR MAIN SEGMENTS CzechoSlovakia Fresh & Herbs Beers & Ciders Mkofola w'Radenska SQ ron mater CeskoStovensko
Slide 24: Revenue QTD | CzechoSlovakia
REVENUE QTD | CZECHOSLOVAKIA Revenue by packaging formats* (czkm) Sales in litres ("000) mAthome S&Onthego sOnpremise L813 Lo CZECHIA 2Q24 2023 Change . 1.660 On premise 7 8439 8,118 4.0% Pp , On the go 7 19,036 18,046 5.5% At home 7 92,210 85,698 7.6% Total 7 119,685 111,862 7.0% SLOVAK 2Q24 2Q23 C
Slide 25: Revenue YTD | CzechoSlovakia
REVENUE YTD | CZECHOSLOWAKIA Revenue by packaging formats* (czkm) Sales in litres ("000) CZECHIA 6M24 6M23 Change mAthome S&Onthego sOnpremise 3,176 2,880 On premise \ 13,872 14,170 (2.1%) On the go 7 31,587 30,041 5.1% At home 7 165,121 151,488 9.0% Total 7 210,580 195,699 7.6% On premise > 12,394
Slide 26: Revenue and EBITDA | CzechoSlovakia
REVENUE AND EBITDA| CZECHOSLOVAKIA @ Adjusted EBITDA (czkKm) Long-term view | Adjusted EBITDA (czkm) HEBITDA + EBITDA margin ToRevenue mmEBITDA -®-EBITDA margin 21.1% 19.6% 15.5% 15.1% 15.5% 18.0% —o— — . 15.2% 19.8% 15.0% 6,610 ° . ° 6,209 524 5,641 438 4,507 4,796 342 256 950 875 938 1,024 2Q24 42
Slide 27: Revenue QTD | Adriatic
REWENUE QTD | ADRIATIC Revenue by packaging formats* (czkm) Sales in litres (‘000) mAthome mOnthego #On premise SLOVENIA 2Q24 2Q23 Change 458 On premise 7 §,202 5,029 3.4% On the go 7 4,978 4,855 2.5% At home \ 18,476 18,517 (0.2%) Total 7 28,656 28,401 0.9% On premise \ 2,657 2,717 (2.2%) On the go
Slide 28: Revenue YTD | Adriatic
REWENUE YTD | ADRIATIC Revenue by packaging formats* (czkm) Sales in litres (‘000) mAthome mOnthego #On premise 751 SLOVENIA 6M24 6M23 Change 677 On premise 7 9,073 8,703 4.3% On the go 7 8,317 7,987 4.1% At home 7 31,987 30,849 3.7% Total 7 49,377 CROATIA 6M24 6M23 Change On premise ‘3,707 4,053 (8
Slide 29: Revenue and EBITDA | Adriatic
mEBITDA 109 2924 87 2923 REWENUE AND EBITDA | ADRIATIC Ss Adjusted EBITDA (czkm) e EBITDA margin 17.5% . 138 6Me24 15.0% ° 104 6Me23 Long-term view | Adjusted EBITDA (czKm) CoRevenue mm EBITDA -®-EBITDA margin 14.4% 5 14.8% 12.0% 12.9% 13.5% _ o% woos 1,513 1,410 1,232 1,094 2020 20e21 2022 2023 LTM
Slide 30: Fresh & Herbs: salad bars and fresh bars
CS Adriatic F&H B&C 22 Salad bars 37 Fresh bars
Slide 31: Fresh & Herbs | Leros and Premium Rosa
FRESH & HERBS* | LEROS AND PREMIUM ROSA Revenue (CzKm) Tenreyiny histories oarecivst 2isb. m Premium Rosa = Leros 223 188 103 86 i 2Q24 2Q23 6Me24 6Me23 * Fresh & Herbs segment further includes PRAGEROVY SADY LIBINA (not disclosed separately in the presentation due to immateriality). (( PREMIUM ROSA
Slide 32: Fresh & Herbs performance
ra] @ CzechoSlovakia Adriatic Fresh & Herbs Adjusted EBITDA (czkm) Long-term view | Adjusted EBITDA (czKm) =EBITDA e@ EBITDA margin CoRevenue M@BEBITDA ~®-EBITDA margin 13.6% 15.2% 11.4% e 13.5% 65% 8.9% 8.8% e 73 e (8.7%) 1,064 968 824 42 34 571 609 20 ii 145 L| 11.2 54 2Q24 2Q23 6M24 6M23 (50) 202
Slide 33: Performance YTD | Beers & Ciders
PERFORMANCE YTD* | BEERS & CIDERS BE Revenue by packaging formats (czkm) Sales in litres (‘000) = CZ brand S Export m Other 6Me24 6M23 Change 7 26,350 24,660 6.9% 7 17,210 15,150 13.6% 799 \ 340 350 (2.9%) 7 43,900 40,160 9.3% Adjusted EBITDA (czkm) @EBITDA e EBITDA margin © 19.5% © 20.9% 156 148 20
Slide 34: Consolidated financial performance indicators
—<S 2 oO ~~ .° © . ; CONSOLIDATED FINANCIAL PERFORMANCE INDICATORS (- rw ar
Slide 35: Selected financial performance indicators
SELECTED FINANCIAL PERFORMANCE INDICATORS CAPEX (CZKm) Working Capital (WC)* (CZKm) Free CF (CZKm) 6M24 6M23 44 6M24 6M23 6M24 6Me23 "Adjusted a juste: EBITDA 867.3 5811 ChangeofWC (83.5) (154.2) (146) CAPEX (380.9) (146.2) Taxes paid (172.2) (56.0) (677) Free CF 230.7 224.7 Cash bal. 1,267.9 683.0
Slide 36: Selected financial performance indicators: net debt
SELECTED FINANCIAL PERFORMANCE INDICATORS Net debt (czkm) 3,687 3,181 2,860 30-06-24 31-12-23 30-06-23 Net debt / LTM EBITDA e@ Net debt /LTM EBITDA Cap veeeee Long-term goal 3.5x 2.50x @ 30-06-24 31-12-23 30-06-23 Gross and net debt calculation (czkm) 30-06-24 31-12-23 30-06-23 L/T bank loans 3,903
Slide 37: M&A
Slide 38: M&A strategy | Where we invest?
M&A STRATEGY | WHERE WE INVEST? Authentic healthy raw materials Extension of our portfolio Mineral water =o KORUNN Strong love brands q \ Synergies with current business | Geographic expansion European countries up to 10 million inhabitants No. lore
Slide 39: Goals
Slide 40: Goals
GOALS 0 . EBITDA (current Kofola Group*) CZK 1.35-1.45 bn EBITDA (incl. new acquisitions**) CZK 1.55-1.80 bn Revenue growth (current Kofola Group*) 7% Revenue growth (incl. new acquisitions**) 25% Max CAPEX 40% of EBITDA Dividend per share ~ 13.5 CZK Net debt / EBITDA < 3.0 wd * Kofola Group entitie
Slide 41: Period change: July and August 2024 vs 2023
— Period Change* July 2024 vs July 2023 - Value c. +42% July 2024 vs July 2023 - Volume Cc. +27% August 2024 vs August 2023 - Value Cc. +28% August 2024 vs August 2023 - Volume ce. +11% 41
Slide 42: Floods
FLOODS " Most affected is production plant in Krnov, together with new brewery locations HanuSovice and Litovel. " Krnov: We are currently determining the extent of the damage. We are cleaning up and focus on getting the plant back up and running as quickly as possible. Our estimate is 4 weeks until
Slide 43: Production sites affected by floods
@ Without any major operational restrictions @ Mainly infrastructure resetrictions @ Temporary closed location Mnichovo Hradisté sy er Moravsky Beroun Straz nad Ohi HanuSovice @ Praha @ oe... Slatinan aH uy @ Y Lipina r ) @otre @ JaZlovice Litovel Dnovy sein Plzehi @ Picrov Rajecka Lesna KlaStor @ p
Slide 44: Slide 44
Slide 45: More about Kofola
MORE ABOUT KOFOLA
Slide 46: Our work is also appreciated by our surroundings
OUR WORK IS ALSO APPRECIATED BY OUR SURROUNDINGS <A PROKOP _ PROKOP PR awards The Public Relations Association of the Slovak Republic has announced the winning works of PROKOR awards, which recognize the best Slovak PR projects and campaigns of the past year. Kofola received 6 awards, including 2 go
Slide 47: We maintain a family spirit
WE MAINTAIN A FAMILY SPIRIT EWEN THOUGH WWE HAVE ACTIVITIES IN 6 COUNTRIES ON 2 CONTINENTS “ ‘oy 2=> 1! ‘i 7 _-? » Z i) 4 ao 2 os a 0 I Czechia « “):(:):«) == 2 00 =~ = ce vie yA 7 J 9 2 a _-o-7 1 - 4 ¢ 7 slovakia (7) )) SS em y - 7 ! a= a r / / Poland _ ; wo a oe . os Slovenia “~ I ; I ! : o Croati
Slide 48: We are not afraid to enter new segments and learn new things
WE ARE NOT AFRAID TO ENTER NEIN SEGMENTS AND LEARN NEI THINGS 1990 2000 2010 2020
Slide 49: We seek and utilize opportunities around us
WE SEEK AND UTILIZE OPPORTUNITIES AROUND US Overview of key acquisitions 2000 2010 2020 [2002 | © kofola’ Ea € 6 FRED oniBin ts PRABER EEe) aagigs. Ba < EXD) wont | 2017 | so O (ESN) semrex ED @® umm Niirea Apple plantations
Slide 50: What we have achieved in the last three years
WHAT WWE HAWE ACHIEVED IN THE LAST THREE YEARS We introduced the Cirkulka returnable bottle system. (ry, 7 Through acquisitions, we entered two new segments - brewing and beverage vending machines. After herbs, we also learn to grow apples and coffee. We started developing startup projects in our bu
Slide 51: Stable ownership structure
STABLE OWNERSHIP STRUCTURE ALLOWS US TO FOCUS ON THE PPE os aita as DEVELOPMENT OF THE GROUP Majority share Jannis Samaras Free float with his family (others) Minority shares Currently 6.1 million shares at Prague Stock Exchange. René Musila D Radenska 4.6% d.o.o. RADENSKA is considering the sale of
Slide 52: Shares owned by key management persons
SHARES OWNED BY KEY MANAGEMENT PERSONS Development in years by type of transaction mlIncrease | Decrease 19,193 199,358 36,997 = 23,265 || 22,615 19,064 3,861 || = 22,321 — 15,059 || 18,709 = 20,403 r | 20,215 Ds Bose oa ac ace get gogo not aot ant Ne 2 oe S 2 ee ee Ca oo Ca 3 ee ye? oe oY oo x oe o
Slide 53: Kofola listed on PSE
KOFOLA LISTED ON PSE Earnings per share (CZk) mmmEPS ¢ P/E a7 8 25 27 15.09 11.23 Dividends per share (CZK) 13.50 13.50 11.30 2020* a02i* = 202a* = 2023*30.06.2024+ 2020 2021 2022 2023 2024 Share performance** (CZK) ——KOFOLACS =——=PX 500 2,000 1,275 7 21% 1,800 1,600 400 ~ BF i400 7 24% 1200 300 1,0
Slide 54: Appendix
APPENDIX
Slide 55: Results of Kofola Group | 6M 2024
RESULTS OF KOFOLA GROUP | 6M 2029 Reconciliation of reported and adjusted results (CZKm) Reported One-offs Adjusted One-offs Revenue 5,219.2 - 5,219.2 © Advisory costs of CZK 13.0 million Cost of sales (2,836.6) - (2,836.6) (CzechoSlovakia and Beers & Ciders ; segment). Gross profit 2,382.6 2 2,382.
Slide 56: Group results comparison 6M
GROUP RESULTS COMPARISON 6M” (CZKm) 6M24 6M23 Change Change (%) Revenue 5,219.2 4,052.8 1,166.4 28.8% Cost of sales (2,836.6) (2,270.5) (866.1) 24.9% Gross profit 2,382.6 1,782.3 600.3 33.7% Selling, marketing and distribution costs (1,490.2) (4,177.1) (313.1) 26.6% Administrative costs (353.9) (313
Slide 57: Group results comparison 2Q
GROUP RESULTS COMPARISON 20° 2924 2923 Change Change (%) Revenue 3,128.6 2,340.4 788.2 33.7% Cost of sales (1,640.0) (1,273.3) (368.1) 28.9% Gross profit 1,488.6 1,067.1 420.1 39.4% Selling, marketing and distribution costs (882.3) (668.5) (212.4) 31.8% Administrative costs (176.7) (172.4) (4.3) 2.5
Slide 58: Consolidated income statement
CONSOLIDATED INCOME STATEMENT* (CZKm) 6M24 6Me23 2023** 2022** 2021** 2020** Revenue 5,219.2 4,052.8 8,690.1 7,875.3 6,636.2 6171.5 Cost of sales (2,836.6) (2,270.5) (4,802.7) (4,564.0) (3,710.2) (3,349.5) Gross profit 2,382.6 1,782.3 3,887.4 3,311.3 2,926.0 2,822.0 Selling, marketing and distributi
Slide 59: Consolidated statement of financial position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION ) 6.2024 31.12.2021* 31.12.2020* Non-current assets 7,081.3 5,306.3 5,683.6 Current assets 4,024.9 1,929.2 1,853.7 Total assets 1,106.2 7,235.5 7,537.3 Equity attributable to owners of Kofola CeskoSlovensko a.s. 1,502.1 1,336.5 1,338.4 Equity attributable
Slide 60: Consolidated statement of cash flows
CONSOLIDATED STATEMENT OF CASH FLOWS (CZKm) 6M24 6Me23 202: 202; 202i* 2020* Net cash flows from operating activities 578.7 436.8 1,484.7 922.8 1,142.0 785.0 Net cash flows from investing activities (1,630.7) (181.5) (896.1) (382.2) (230.5) (1,349.3) Net cash flows from financing activities 1,243.4
Slide 61: Contact
CONTACT Should you have any question related to Kofola Group do not hesitate to contact our investor relations office: Jifi Rypar + 420 737 118 957 http://investor.kofola.cz/en Kofola CeskoSlovensko a.s. Nad Porubkou 2278/31a 708 OO Ostrava - Poruba Czech Republic » kofola
Slide 62: Authorization
AUTHORIZATION This presentation has been authorized by the Board of Directors of Kofola CeskoSlovensko a.s. on 23 September 2024. This presentation (“the Presentation”) has been prepared by Kofola EeskoSlovensko a.s. (“the Company”). The Company has prepared the Presentation with due care, however c
Kofola ČeskoSlovensko a.s. — Investor Presentation (September 2024) on 6ix