Anheuser-busch Inbev Sa/nv · EURONEXT:ABI
Anheuser-busch Inbev Sa/nv — Q1 2022 Earnings Presentation
30 slides from Anheuser-busch Inbev Sa/nv's earnings presentation, May 5, 2022
Slide 1: 1Q22 Results
1Q22 Results May 5, 2022
Slide 2: Legal disclaimer
Legal disclaimer Certain statements contained in this report that are not statements of historical fact constitute forward -looking statements, notwithstanding that such statements are not specifically identified. In addition, certain statements may be contained in the future filings of the Company
Slide 3: Agenda
Agenda Lets look for another pic, this looks old 01 Operating performance highlights 02 Update on our strategic pillars • Lead and grow the category • Digitize and monetize our ecosystem • Optimize our business 03 Q&A © AB InBev 2022 – All rights reserved | 3
Slide 4: Operating performance highlights
Operating performance highlights © AB InBev 2022 – All rights reserved | 4
Slide 5: 1Q22 operating performance
1Q22 operating performance Total volumes +2.8% Own beer +2.2% and non-beer +6.0% Total revenue +11.1% Revenue per hl +7.8% EBITDA +7.4% EBITDA margin of 33.9% Normalized EPS of $0.67 Underlying EPS of $0.60 © AB InBev 2022 – All rights reserved | 5
Slide 6: 1Q22 key market headlines
1Q22 key market headlines United States Europe Continued top-line growth despite soft industry Double-digit top- and bottom-line growth Mexico South Africa Double digit top- and bottom-line growth Double-digit top- and bottom-line growth Colombia China Ongoing momentum although performance impacted
Slide 7: ESG highlights
Lets look for another pic, this looks old ESG highlights © AB InBev 2022 – All rights reserved | 7
Slide 8: We continue to advance our ESG agenda
We continue to advance our ESG agenda Climate Water Stewardship Entrepreneurship Awarded the Gold Medal Published a watershed health guide Launched applications for Cohort 4 by the World Environment Center in recognition with The Nature Conservancy (TNC) of the 100+ Accelerator program of our sustai
Slide 9: Update on our strategic pillars
Update on our strategic pillars © AB InBev 2022 – All rights reserved | 9
Slide 10: Chief Growth Officer
Chief Growth Officer Data, digital, commercial integration & simplification CHIEF GROWTH OFFICER (CGO) Ricardo Tadeu MARKETING SALES DTC BEES ZX Marcel Pablo Lucas Nick Bernardo Marcondes Panizza Herscovici Caton Novick 1 2 3 Fully leverage Totally data and integrated Simplification Strategic Ration
Slide 11: Lead and grow the category
3 1 Optimize our Lead and grow Lead and grow business the category the category 2 Digitize and monetize our ecosystem © AB InBev 2022 – All rights reserved | 11
Slide 12: Lead and grow the category: 5 category expansion levers
Lead and grow the category: 5 category expansion levers 1 2 3 4 5 Inclusive Core Superiority Occasions Premiumization Beyond Beer Category Development Increased range of Mainstream portfolio Non-alcoholic beer grew Above core portfolio grew Beyond Beer portfolio smaller pack sizes and delivered high
Slide 13: Premiumization: Global brands delivered 6.0% revenue growth in 1Q22
4 Premiumization: Global brands delivered 6.0% revenue growth in 1Q22 Outside of their home markets, where they command a premium price vs. 1Q21 vs. 1Q21 vs. 1Q21 +0.3% +11.5% +14.1% 1Q22 revenue outside the US 1Q22 revenue outside Belgium 1Q22 revenue outside Mexico © AB InBev 2022 – All rights res
Slide 14: Lead and grow the category: 5 category expansion levers
Lead and grow the category: 5 category expansion levers 1 2 3 4 5 Inclusive Core Superiority Occasions Premiumization Beyond Beer Category Development Increased range of Mainstream portfolio Non-alcoholic beer grew Above core portfolio grew Beyond Beer portfolio smaller pack sizes and delivered high
Slide 15: Strong innovation pipeline supporting category expansion
Strong innovation pipeline supporting category expansion Scaling innovation at speed through seed & learn and prove & move approach Innovation contributed ~8% of total revenue Inclusive Category Core Superiority Occasions Premiumization Beyond Beer © AB InBev 2022 – All rights reserved | 15
Slide 16: Digitize and monetize our ecosystem
3 1 Digitize and Optimize our business Lead and grow the category monetize our ecosystem 2 Digitize and monetize our ecosystem © AB InBev 2022 – All rights reserved | 16
Slide 17: BEES continues to expand and empower our customers
BEES continues to expand and empower our customers March 2021 March 2022 Countries Live 9 17 Monthly Active Users 1.5m 2.7m (“MAU”) Gross Merchandise Value ~$3.5bn ~$6.5bn (“GMV”) 1Q2021 1Q2022 Orders per week >1.1m >1.7m Minutes per week per buyer 25min 28min Marketplace buyers 14% 31% % of current
Slide 18: BEES Marketplace further empowers our ecosystem
BEES Marketplace further empowers our ecosystem 11 31% ~$800m >100 >1,000 Countries Marketplace buyers Annualized Revenue1 Partners SKUs % of current BEES customers Benefits to Retailers Benefits to Partners ✓ Consolidates ordering process ✓ Digitization of sales (e.g., uplift) ✓ Personalized multi-
Slide 19: Leading expansion in direct-to-consumer solutions
Leading expansion in direct-to-consumer solutions Reac hing Surpas s ing ~$300m 1Q22 revenue 17m 1Q22 online orders PerfectDraft Retail stores Zé Delivery +40% ~13K ~4m growth of active brick and mortar consumers shopper base vs. 1Q21 © AB InBev 2022 – All rights reserved | 19
Slide 20: Zé continues to deliver in Brazil
Zé continues to deliver in Brazil ~300 Cities ~50% Population coverage in Brazil +29% YoY Q1 NR Growth © AB InBev 2021 – All rights reserved | 20
Slide 21: AB InBev Named One of Fast Company's Most Innovative Companies for 2022
AB InBev Named One of Fast Company’s 50 Most Innovative Companies for 2022 AB InBev Named Recognizing how our innovation approach drives performance and impact One of Fast Company’s Most Innovative Companies for 2022 Inclusive “local crop” beers Corona barley pack Ranked Ranked #1 In North America #
Slide 22: Optimize our business
3 1 Optimize our Lead and grow Optimize our business the category business 2 Digitize and monetize our ecosystem © AB InBev 2022 – All rights reserved | 22
Slide 23: Maximizing value by focusing on:
Maximizing value by focusing on: Optimized resource allocation Robust risk management Efficient capital structure © AB InBev 2022 – All rights reserved | 23
Slide 24: Dynamically balancing capital allocation priorities to maximize value creation
Dynamically balancing capital allocation priorities to maximize value creation Deleveraging Invest behind organic growth Selective Return of M&A Capital © AB InBev 2022 – All rights reserved | 24
Slide 25: Well-distributed bond maturity profile
Well-distributed bond maturity profile Eliminated short-term 13 refinancing pressure 12 ~$3.1bn bond 11 redemption of 2026 and 10 9 2046 bonds in Jan-2022 ~16 yrs Principal ($B) weighted average maturity 8 7 6 5 4 3 2 1 0 2024 2027 2029 2032 2034 2037 2040 2042 2045 2048 2050 2053 2056 2058 2022 202
Slide 26: 93% of our bond portfolio is at a fixed rate, with pre-tax coupon of ~4.0%
93% of our bond portfolio is at a fixed rate, with pre-tax coupon of ~4.0% Diverse currency 93% of our bond Very manageable mix reduces risk portfolio is fixed rate pre-tax coupon Floating rate 6% CAD 5% GBP 7% 5% Other ~4.0% pre-tax coupon 33% 51% EUR USD 93% Fixed rate Note: Represents full bond p
Slide 27: Underlying EPS grew by $0.05 to $0.60 in 1Q22
Underlying EPS grew by $0.05 to $0.60 in 1Q22 0.01 0.01 0.01 0.05 0.60 0.08 0.55 1Q21 Normalized EBIT Hyperinflation Net Finance Cost Associates Non-controlling 1Q22 Impact Interest © AB InBev 2022 – All rights reserved | 27
Slide 28: Meeting the moment in 2022
Meeting the moment in 2022 © AB InBev 2021 – All rights reserved | 28
Slide 29: Building momentum as we deliver and transform
Building momentum as we deliver and transform Beer gaining Business Tech-first Revenue Activating share of throat momentum FMCG management demand The beer Delivered strong Leading brands and Disciplined Unique category is: results in a dynamic accelerated digital revenue opportunities operating tran
Slide 30: Q&A
Q&A © AB InBev 2022 – All rights reserved | 30