Royal Unibrew A/s · OMXCOP:RBREW
Royal Unibrew A/s — H1 2026 Earnings Presentation
15 slides from Royal Unibrew A/s's earnings presentation, Aug 18, 2026
Slide 1: H1 2026 Interim Report Presentation
H1 2026 Interim Report Presentation Copyright © Royal Unibrew. All rights reserved. By Lars Jensen (CEO) & Lars Vestergaard (CFO) 1
Slide 2: Disclaimer
This presentation contains forward-looking statements based on current expectations, estimates and assumptions. Disclaimer Such statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Royal Unibrew assumes no obligation to
Slide 3: Our core strategy remains unchanged but some components are now prioritized even higher
Our core strategy remains unchanged but some components are now prioritized even higher Key commercial priorities Key operational priority Driving New Driving growth Accelerating Accelerating Increasing own brands partnerships category focus International Italy efficiency even stronger Copyright © R
Slide 4: H1 2026 Financial Highlights
H1 2026 Financial Highlights ORGANIC VOLUME GROWTH 1.6% • Net revenue growth of 4%* - led by own brands ORGANIC NET REVENUE GROWTH • EBIT growth of 7% and 80bps margin expansion 0.7% • 10.7% EPS growth ORGANIC EBIT GROWTH • Cash flow tracking our plans, new share buy back program launched 6.7% Copyr
Slide 5: Northern Europe Review
Northern Europe Review • Approx. 5% underlying net revenue growth in H1 2026, adjusted for the planned exit from lower-margin activities Q2 Q2 H1 H1 • Strong own-brand growth driven by % % innovation and commercial execution mDKK 2026 2025 2026 2025 Volumes (mhl) 3.1 3.1 -1.9 5.4 5.2 2.6 • Q2 growth
Slide 6: Western Europe Review
Western Europe Review • Italy remained the segment’s main growth driver, supported by strong brands and continued market share gains Q2 Q2 H1 H1 % % • The revised commercial strategy in the mDKK 2026 2025 2026 2025 Netherlands weighed on volume and Volumes (mhl) 1.5 1.5 0.3 2.7 2.7 -2.7 revenue grow
Slide 7: International Review
International Review • International remained a key growth engine for the Group in H1 2026. Q2 Q2 H1 H1 % % mDKK 2026 2025 2026 2025 • Growth driven by Faxe Beer, Crodo, and Volumes (mhl) 0.5 0.5 1.2 0.9 0.8 11.0 Vitamalt/Supermalt Organic volume growth 1.2% 19.9% 11.0% 15.5% • Continued strong mome
Slide 8: P&L Review H1 2026
P&L Review H1 2026 Q2 Q2 % H1 H1 % Profitable growth and efficiency mDKK 2026 2025 2026 2025 • Net revenue growth of 1.2% with Volumes (mhl) 5.1 5.1 -0.9 9.0 8.8 1.8 underlying growth of ~4%, Organic volume growth -0.9% 6.7% 1.6% 3.8% excluding exit from lower-margin Net revenue 4,426 4,438 -0.3 7,7
Slide 9: Cashflow and Ratios H1 2026
Cashflow and Ratios H1 2026 Strong cash flow and disciplined allocation mDKK H1 2026 H1 2025 % Net profit for the year 707 657 7.7 • Operating cash flow of DKK 908m, reflecting Adj. for non-cash items 731 670 higher earnings partly offset by less favorable working capital development Changes in net
Slide 10: 2026 Outlook Reiterated
2026 Outlook Reiterated Actual 2026 DKKm 2025 guidance Comments EBIT 2,202 +6-10% Organic growth Net financial expenses 254 250 Excluding currency losses or gains Effective tax rate 20.7% 22% CAPEX, % of net revenue 6.4% 7% CAPEX includes repayment on leasing facilities Key assumptions • Continued c
Slide 11: Management Agenda
Management Agenda • Continue executing our growth strategy while managing the impact of upcoming partnership changes. • Innovate and expand our beverage portfolios in line with evolving consumer trends • Actively manage current market developments and commodity inflation through pricing, mix and dis
Slide 12: Key take-aways
1 2 • Market share gains - growth led by own brands • 7% EBIT growth and >10% EPS growth Key take-aways • ROIC improved by 80bps to 12.8% • Robust cash flow and balance sheet enabling shareholder returns Copyright © Royal Unibrew. All rights reserved. • Full-year 2026 guidance reiterated 12
Slide 13: Q&A
Q&A 13 Copyright © Royal Unibrew. All rights reserved.
Slide 14: Investor relations contacts
Share information Financial calendar 2026 Investor relations contacts Royal Unibrew A/S is listed on Nasdaq February 26: 2025 Annual Report Royal Unibrew A/S Copenhagen under the symbol Faxe Alle 1 “RBREW”. April 29: Q1 Trading Statement DK-4640 Faxe investor.relations@royalunibrew.com For further i
Slide 15: End: H1 2026 Interim Report Presentation
End: H1 2026 Interim Report Presentation Copyright © Royal Unibrew. All rights reserved. By Lars Jensen (CEO) & Lars Vestergaard (CFO) 15