United Breweries Limited · NSE:UBL
United Breweries — Q4 FY2025 Earnings Presentation
17 slides from United Breweries's earnings presentation, March 2025
Slide 1: Investor Presentation Quarter and FY ended March 2025
Investor Presentation Quarter and FY ended March 2025
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements with regard to the financial position and results of UBL’s activities. These forward- looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-lo
Slide 3: Q4 Highlights
Q4 Highlights Volume Premium Volume +5% +24% Net Sales Gross Margin +9% 42.1% (+37 bps vs LY) EBIT Profit after Tax +24% +20%
Slide 4: YTD Q4 Highlights
YTD Q4 Highlights Volume Premium Volume +6% +32% Net Sales Gross Margin 43.0% +10% (+44 bps vs LY) EBIT Profit after Tax +15% +8%
Slide 5: Q4 volumes growing at 5% despite temporary suspension in Telangana & duty changes
Q4 volumes growing at 5% despite temporary suspension in Telangana & duty structure changes in Karnataka. Volume Growth1 (+5% ITQ, +6% YTD) North (+3%) East (+0%) Volume growth in Uttar Pradesh & Volume growth in Odisha & Assam offset Punjab partially offset by a decline by a decline in mainly West
Slide 6: FY25 volumes are up 6%, with premium growing 32%
FY25 volumes are up 6%, with premium growing 32%, driven by consistent growth each quarter. Quarterly Volume Development FY25 44% 33% 32% 27% 24% 8% 5% 5% 5% 6% Q1-FY25 Q2-FY25 Q3-FY25 Q4-FY25 Total Volume Premium Volume Total Volume Premium Volume 6
Slide 7: Q4 – FY25 Results
Q4 – FY25 Results Q4 Results (standalone) Data in Rs. Cr. Mar-25 Mar-24 Change (%) Net Sales 2,321 2,132 9% COGS -1,344 -1,242 8% Gross Profit 977 889 10% Employee expenses -190 -174 9% Other expenses -601 -573 5% Other income 8 26 -70% EBITDA 194 168 15% Depreciation -57 -58 -2% EBIT 137 111 24% Fi
Slide 8: YTD – FY25 Results
YTD – FY25 Results YTD Results (standalone) Q4 Results (standalone) Data in Rs. Cr. Mar-25 Mar-24 Change (%) Net Sales 8,907 8,115 10% COGS -5,077 -4,661 9% Gross Profit 3,831 3,454 11% Employee expenses -713 -643 11% Other expenses -2,278 -2,116 8% Other income 36 73 -51% EBITDA 875 768 14% Depreci
Slide 9: Q4 FY25 Net Sales growth with balanced volume and price-mix contribution
Q4 FY25 Net Sales growth with balanced contribution from volume growth and price-mix Net sales Q4 (Rs. Cr.) 2,321 1 Volume growth mainly driven by Andhra Pradesh, Uttar Pradesh, Maharashtra & Assam 2,132 partially offset by Telangana & Karnataka. 5% 4% 1 2 2 Positive Price Mix driven by price increa
Slide 10: YTD FY25 10% topline growth driven by volume momentum and Price Mix
YTD FY25 10% topline growth driven by continued volume momentum and Price Mix Net sales YTD (Rs. Cr.) 8,907 1 Volumes grew by 6% driven by strong broad- based growth across our footprint partially off-set 8,115 by mainly Tamil Nadu. 6% 4% 2 Positive Price Mix is driven by price increases in 1 2 mult
Slide 11: Q4-FY25 EBIT is up Rs 27 Cr with solid Gross Profit growth
Q4-FY25 EBIT is up Rs 27 Cr. With solid Gross Profit growth and increased investments behind our organization, brands & our supply chain ahead of the peak season Rs. Cr. +27 (+24%) 1 137 111 2 EBIT Q4-PY Gross Profit Employee expenses Other expenses Other Income EBIT Q4-CY & Depreciation 11
Slide 12: 15% EBIT growth driven by volume and price-mix
15% EBIT growth driven by volume and price-mix with increased investments behind our brands & organization and resulting in EBIT margin expansion EBIT YTD (Rs. In Cr) 1 Gross Profit improvement driven by volume +15% and price mix. GP margin 44 bps up vs LY driven by revenue management & cost 642 ini
Slide 13: Volume growth and margin development resulting in double digit Gross Profit and EBIT growth
Volume growth in combination with margin development resulting in double digit Gross Profit and EBIT growth Margin improvement…. …resulting in strong profit growth +44 bps +10.9% 43.0 % 3,831 42.6 % +35 bps 3,454 7.2 % 6.9 % +15.4% 642 556 GP Margin EBIT Margin GP EBIT FY24 FY25 13
Slide 14: Design To Win | Maharashtra distributor network redesign
Design To Win | Maharashtra distributor network redesign to unlock growth in one of our largest markets Design To Win Right distribution Right Distributor Right Commercial Right Route To network Partners Model Consumer Increase manpower dedicated to UBL Advanced Technology usage Distribution partner
Slide 15: Putting consumers & customers at the heart of our business
Putting consumers & customers at the heart of our business… 1 2 3 4 5 Manufacturing Policy Portfolio Innovation footprint Execution Advocacy Non exhaustive list of initiatives
Slide 16: Outlook
Outlook ▪ Building further category growth while driving the share of premium in our portfolio remains a key focus ▪ We continue to focus on revenue management & cost initiatives, to drive margin accretion with continued investments behind our brands and capabilities despite short term margin pressu
Slide 17: Q&A
Q&A Brewing the Good Times