Anadolu Efes Biracilik Ve Malt Sanayii A.s. · BIST:AEFES
Anadolu Efes Biracilik Ve Malt Sanayii A.s — Anadolu Efes — Q1 2021 Earnings Presentation
17 slides from Anadolu Efes Biracilik Ve Malt Sanayii A.s's earnings presentation, May 6, 2021
Slide 1: Anadolu Efes 1Q2021 Conference Call Presentation
ANADOLU EFES 1Q2021 CONFERENCE CALL PRESENTATION 06.05.2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain certain forward-looking statements concerning our future performance and should be considered as good faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently available
Slide 3: General Overview & Operating Environment
GENERAL OVERVIEW & OPERATING ENVIRONMENT Can Çaka 3
Slide 4: We made a very good start to the year
We made a very good start to the year… Continued focus and brand Strong volume growth delivered in investments related to “+1 relaunch” both beer & soft drinks ahead of the high season Robust topline growth with rev/hl Commitment to digital increases across the board transformation initiatives Bette
Slide 5: Contributed by both business segments
…contributed by both business segments… TOTAL VOLUME REVENUE EBITDA FREE CASH FLOW mhl TL mn TL mn, bps TL mn ~+500 bps +36% margin increase +13% 6.159 +137% +75% 23.2 4.514 20.5 715 -251 301 1Q2020 1Q2021 1Q2020 1Q2021 1Q2020 1Q2021 -1,021 1Q2020 1Q2021 VOLUME REVENUE BREAKDOWN BREAKDOWN 31% 39% 1Q
Slide 6: Robust performance delivered in Russia and CIS
…with robust performance delivered in Russia and CIS… BEER GROUP INTERNATIONAL BEER TURKEY BEER VOLUME SALES VOLUME SALES VOLUME SALES VOLUME BREAKDOWN* Turkey 7.3 10% 7.0 6.6 CIS 6.2 11% mhl mhl mhl 0.7 0.7 79% Russia 1Q2020 1Q2021 1Q2020 1Q2021 1Q2020 1Q2021 & Ukraine Russia & Ukraine CIS Countrie
Slide 7: Remarkable performance in soft drinks
…together with a remarkable performance in soft drinks… SOFT DRINKS VOLUME SALES VOLUME BREAKDOWN* Azerbaijan Others Iraq 3% 281 7% 3% 238 119 Kazakhstan m u/c 14% 43% Turkey 107 132 161 29% 1Q2020 1Q2021 Pakistan Turkey International Turkey Operations International Operations • Turkey volume growth
Slide 8: Yielding better than anticipated results in 1Q
…yielding better than anticipated results in 1Q REVENUE NET REVENUE Price increases +36.5% Favorable mix & better discount management Positive currency translation EBITDA BNRI EBITDA MARGIN +137.5% Calendarization of some expenses in international beer and soft drinks Higher opex in Turkey
Slide 9: Financial Overview
FINANCIAL OVERVIEW Orhun Köstem Chief Financial Officer 9
Slide 10: Outstanding financial performance in the smallest quarter
Outstanding financial performance in the smallest quarter… VOLUME NET REVENUE EBITDA BNRI EBITDA BNRI% FREE CASH FLOW ANADOLU 715 715mTL EFES 23.2 mhl 6,159 mTL mTL 11.6% -251 mTL +13.2% vs. PY v +36.5% vs. PY v vs.PYPY +139.4% +137.5%vs. +5.0pp vs. PY +771m vs. PY GROUP BEER 7.3 mhl 2,412 mTL -47 m
Slide 11: Y-o-y improvement in operational profitability and cash generation
…with y-o-y improvement in both operational profitability and cash generation… Beer Group 351.3 -214.9 EBITDA Bridge mTL -98.8 11.1 -47.4 -96.1 Net Cost of Selling, Other 1Q2020 Revenue Sales Marketing 1Q2021 and G&A expenses Free Cash Flow 151.8 -40.7 Bridge 503.6 60.4 -29.8 -589.3 mTL 49.3 -1,283.
Slide 12: Clear priorities for balance sheet management
… with clear priorities for balance sheet management Reducing FX exposure • No FX debt exposure other than Eurobond Extending Debt Maturity • Particularly in relation to the refinancing of US$ 2022 bonds Ensuring Capital Efficiency • Beer Group: 2.0x (1Q2020: 2.0x) • Anadolu Efes: 1.0x (1Q2020: 1.5x
Slide 13: Outlook
OUTLOOK Can Çaka CEO & Beer Group President 13
Slide 14: Outlook maintained due to uncertainties ahead
Despite a very strong quarter outlook maintained due to uncertainties ahead… VOLUME SALES REVENUE continuing impact of pandemic FX-Neutral basis Consolidated: Beer Group: Soft Drinks: Consolidated: Beer Group: Soft Drinks: Low-to-mid- Low-single digit Range of Mid-teens Low-teens High-teens single d
Slide 15: Closing Remarks
CLOSING REMARKS Can Çaka CEO & Beer Group President 15
Slide 16: Q&A Session
Q&A SESSION Can Çaka CEO & Beer Group President Orhun Köstem Chief Financial Officer 16
Slide 17: FX Rates
FX Rates 1Q2020 1Q2021 Δ% AVG 6.09 7.38 21.2% USD/TL PE 6.52 8.33 27.8% AVG 6.72 8.90 32.4% EUR/TL PE 7.22 9.77 35.4% AVG 10.90 10.07 -7.6% TL/RUB PE 11.93 9.09 -23.8% AVG 64.18 56.88 -11.4% TL/KZT PE 68.76 50.97 -25.9% AVG 4.11 3.79 -7.9% TL/UAH PE 4.31 3.35 -22.2% AVG 2.89 2.37 -17.9% TL/MDL PE 2.