Celsius Holdings, Inc. · NASDAQ:CELH
Celsius — Q4 2024 Earnings Presentation
30 slides from Celsius's earnings presentation, Feb 20, 2025
Slide 1: Celsius Holdings Investor Presentation
C E L S I U S H O L D I N G S , I N C . | Q U A R T E R 3 , 2 0 2 4 I N V E S T O R P R E S E N TAT I O N PRESENTATION February 20, 2025 In conjunction with moderate fitness activity, Celsius is clinically proven to accelerate metabolism and burn body fat
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements by Celsius Holdings, Inc. (“Celsius”, “we”, “us”, “our” or the “Company”) that are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These for
Slide 3: On a mission to inspire people to live fit
THE WORLD’S MOST ON A MISSION TO INSPIRE PEOPLE TO LIVE FIT WITH THE ENERGY TO ACHIEVE THEIR GOALS 3
Slide 4: At a Glance
AT A GLANCE PRODUCT LINES: CORE | VIBE | ESSENTIALS ON THE GO POWDERS | HYDRATION GROWTH BRAND IN RTD ENERGY1 RETAIL SALES IN THE U.S.1 FY 2024 FINANCIAL HIGHLIGHTSA CATEGORY GROWTH LEADER • Revenue: $1.36B • Gross Margin: 50.2% • Net Income: $145M • Adjusted EBITDA: $256M • Adjusted EBITDA Margin:
Slide 5: Key Messages
KEY MESSAGES Delivered strong 22% volume growth year-over-year despite a challenged 2024 CPG and energy drink category1 Continued strong innovation & portfolio expansion, with launch of CELSIUS ESSENTIALSTM and CELSIUS HYDRATIONTM Acquired Big Beverages, supporting innovation, R&D, supply chain cont
Slide 6: Summary Financials
SUMMARY FINANCIALS (Millions except for percentages & EPS) 4Q 2024 4Q 2023 Change FY 2024 FY 2023 Change REVENUE $332.2 $347.4 (4)% $1,355.6 $1,318.0 3% N. AMERICA $311.9 $332.8 (6)% $1,280.9 $1,263.3 1% INTERNATIONAL $20.3 $14.6 39% $74.7 $54.7 37% GROSS MARGIN 50.2% 47.8% +240 BPS 50.2% 48.0% +220
Slide 7: The Energy Drink Category
THE ENERGY DRINK CATEGORY $0.14 $0.41 $1.01 $2.21 $2.70 2020 2021 2022 2023 2024 4.3% 9.9% 24.8% 32.2% 30.3% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2020 2021 2022 2023 2024 CELSIUS RETAIL SALES ACROSS TRACKED CHANNELS1 (MULO+ W/C | BILLIONS) CELSIUS CONTRIBUTION TO CATEGOR
Slide 8: Revenue
REVENUE QUARTERLY REVENUE LAST 5 QUARTERS (MILLIONS) $347.4 $355.7 $402.0 $265.7 $332.2 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 +23% YoY +95% YoY -4% YoY REVENUE (IN MILLIONS) +37% YoY -31% YoY $0.0M $50.0M $100.0M $150.0M $200.0M $250.0M $300.0M $350.0M $400.0M $450.0M Q tr 1 Q tr 2 Q tr 3 Q tr 4 Q tr 1 Q tr
Slide 9: Celsius MULO+ W/C Retail Sales and Brand Share
SALES $1 86 .9 M $2 09 .3 M $2 12 .4 M $2 20 .8 M $2 33 .5 M $2 18 .0 M $2 16 .8 M $2 13 .1 M $2 11 .6 M $2 08 .9 M $2 00 .7 M $1 87 .6 M $1 82 .2 M $0 $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 1/ 28 /2 02 4 2/ 25 /2 02 4 3/ 24 /2 02 4 4/ 21 /2 02 4 5/ 19 /2 02 4 6/ 16 /2 02 4
Slide 10: W/C Dollar Share
W/C DOLLAR SHARE NOTES: 1. Circana Total US MULO+ W/C dollar share of RTD Energy by quarter ended 12/29/24 4.6 5.1 5.4 6.2 8.2 9.7 11.2 11.4 12.3 12.3 11.7 10.9 31.3 30.5 30.4 30.8 30.3 29.3 28.7 28.6 28.0 27.7 27.4 27.6 38.1 38.6 38.6 39.1 37.1 36.8 36.0 36.4 35.8 36.4 36.5 37.5 0.0 5.0 10.0 15.0 2
Slide 11: International Revenue
SALES $14.6 $16.2 $19.6 $18.6 $20.3 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 NOTES: International revenue excludes N. America (U.S. and Canada) INTERNATIONAL REVENUE LAST 5 QUARTERS (IN MILLIONS) 11
Slide 12: Gross Profit and Adjusted EBITDA
0 50 100 150 200 250 GROSS PROFIT DOLLARS ADJ EBITDA DOLLARS 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 PROFIT GROSS PROFIT AND ADJUSTED EBITDA ($ IN MILLIONS) PERCENTAGES REPRESENT QUARTERLY PERCENTAGE OF REVENUE 24.7% 47.8% 18.8% 52.0% 46.0% 1.7% 25.0% 51.2% 50.2% 18.9% Q3 reflects adverse impact of pronounced
Slide 13: Recent Product Innovation
ZERO SUGAR INNOVATION EXPANDED INTO THE HYDRATION CATEGORY LAUNCHED SIX NEW FLAVORS ACROSS PRODUCT LINES EXPANDED DISTRIBUTION OF TWO PREVIOUS LEAD-LAUNCH FLAVORS INTRODUCED NEW MULTI-PACK VARIETIES RECENT PRODUCT INNOVATION 13
Slide 14: Strategy
STRATEGY PEOPLE PLACES OFTEN ATTRACTING NEW CONSUMERS INTO THE ENERGY CATEGORY EXPANDING PRODUCT AVAILABILITY INCREASING CONSUMPTION FREQUENCY U N D E R P I N N E D BY O P E R AT I O N A L E XC E L L E N C E 14
Slide 15: Creating a Leading Better-for-You, Functional Lifestyle Platform
CELSIUS CREATING A LEADING BETTER-FOR-YOU, FUNCTIONAL LIFESTYLE PLATFORM 15
Slide 16: Overview of Alani Nu Acquisition
OVERVIEW — Celsius Holdings, Inc. (“Celsius”) has agreed to acquire Alani Nutrition LLC (“Alani Nu”) from co-founders, Katy and Haydn Schneider, and Congo Brands’ co- founders, Max Clemons and Trey Steiger, for $1.8 billion with a mix of cash and stock, including a potential $25 million earn-out bas
Slide 17: Alani Nu
ALANI NU GROWING, PROFITABLE HEALTH & WELLNESS LIFESTYLE BRAND WITH DIVERSE FUNCTIONAL PORTFOLIO & LOYAL FEMALE FOLLOWING HIGHLY PROFITABLE MODEL WITH SYNERGY UPSIDE - $137mm 2024A fully synergized EBITDA1 (23% margin) GROWTH AT SCALE - $595mm 2024A Net Sales growing at ~50% CAGR from 2022-24A UNIQU
Slide 18: Strategic Rationale
STRATEGIC RATIONALE CREATES A LEADING BETTER-FOR-YOU, FUNCTIONAL LIFESTYLE PLATFORM AT THE INTERSECTION OF CONSUMER MEGATRENDS COMBINES TWO GROWING, SCALED ENERGY BRANDS WITH CLEAR CATEGORY TAILWINDS COMPLEMENTARY BRAND POSITIONING AND ATTRACTIVE CONSUMER DEMOGRAPHICS, EXPECTED TO DRIVE INCREMENTAL
Slide 19: At the Intersection of Consumer Megatrends
AT THE INTERSECTION OF CONSUMER MEGATRENDS SOURCE: Company information, Circana NOTE: Represents preliminary, unaudited 2024 Alani financials 1. Represents 2024A combined company Pro-Forma sales 2. Combined company Pro-Forma category share based on Circana, MULO+ W/C RTD Energy LTM as of February 20
Slide 20: With Clear Category Tailwinds
WITH CLEAR CATEGORY TAILWINDS $489 $409 $324 $156 $92 $25 $16 ($22) ($71) DRIVING TRANSFORMATION OF US RTD ENERGY DRINK CATEGORY TRACKED RETAIL SALES 2024 YOY DOLLAR GROWTH1 LONG-TERM TAILWINDS IN ENERGY $90bn 2024 Global Energy Drink Category3 10% 2024-29 Global Energy Drink Category CAGR3 Increasi
Slide 21: Expected to Drive Incremental Category Growth
EXPECTED TO DRIVE INCREMENTAL CATEGORY GROWTH TARGET AUDIENCE Gender-neutral, performance-driven with broad appeal to fitness enthusiasts and beyond Female-focused, lifestyle-oriented for consumers seeking a fun, approachable brand Functionality for athletes and fitness-focused individuals Centered
Slide 22: Leverages Combined Strengths to Drive Next Phase of Growth
CONTINUE DISTRIBUTION GAINS AND REACH NEW CHANNELS DRIVE INNOVATION & BRAND AWARENESS ACCESS CONSUMERS IN GROWING ADJACENCIES POISED FOR FURTHER GLOBAL EXPANSION TO DRIVE THE NEXT PHASE OF GROWTH POISED TO DRIVE CONTINUED INNOVATION AND GROWTH 22
Slide 23: Cash EPS Accretive in Year One with Synergy Opportunity
IN YEAR ONE WITH MEANINGFUL SYNERGY OPPORTUNITY $1.4 $2.0 $256 $393 INCREASED TOPLINE SCALE (2024A NET SALES, $ IN BILLIONS) STRONG PRO-FORMA PROFITABILITY (2024A ADJ. EBITDA, $ IN MILLIONS) $50mm Clearly Identified Cost Synergies with Additional Upside1 Expected to be Cash EPS Accretive In Year One
Slide 24: Disciplined Approach to Capital Allocation
TO CAPITAL ALLOCATION M&A STRATEGY SHAREHOLDER ALIGNMENT FINANCIAL IMPACT BALANCE SHEET STRENGTH Targeted and strategic approach to M&A with complementary acquisition in core energy category while remaining disciplined on valuation REPRESENTS ATTRACTIVE VALUATION OF LESS THAN 3x 2024A ALANI NU REVEN
Slide 25: Appendix
APPENDIX 25
Slide 26: Financial Information
FINANCIAL INFORMATION The following table presents summary historical and unaudited pro forma condensed consolidated financial data for Celsius and Alani Nu, which are based on (i) Celsius’ unaudited financial statements for the year ended December 31, 2024, and (ii) Alani Nu’s preliminary estimated
Slide 27: EBITDA Schedule
EBITDA SCHEDULE The company reports financial results in accordance with generally accepted accounting principles in the United States (“GAAP”), but management believes that disclosure of Adjusted EBITDA and Adjusted EBITDA Margin, non-GAAP financial measures that management uses to assess our perfo
Slide 28: Pro-Forma EBITDA Schedule
PRO-FORMA EBITDA SCHEDULE 1 Selling, general and administrative expenses related to employee non-cash stock-based compensation expense. Stock-based compensation expense consists of non-cash charges for the estimated fair value of unvested restricted share unit and stock option awards granted to empl
Slide 29: EPS Schedule
EPS SCHEDULE The company reports financial results in accordance with generally accepted accounting principles in the United States (“GAAP”), but management believes that disclosure adjusted diluted earnings per share, a non-GAAP financial measure that management uses to assess our performance, may
Slide 30: Valuation Metrics
VALUATION METRICS The company reports financial results in accordance with generally accepted accounting principles in the United States (“GAAP”), but management believes that disclosure of Adjusted EBITDA, a non-GAAP financial measures that management uses to assess our performance, may provide use