East African Breweries Plc · NSEKE:EABL
East African Breweries — H1 FY2025 Earnings Presentation
33 slides from East African Breweries's earnings presentation, January 2025
Slide 1: F25 HY Results
ner vee — ® % © eQqndly F25 HY RESULTS January 2025
Slide 2: Agenda: Business Review
[s. Agenda Business Review Financial Review Looking Ahead Q&A
Slide 3: Macroeconomic indicators Kenya Uganda Tanzania
2023 A 2024 H1 2024 F 2024 Q3 5.5% 5.9% 2024 Q4 5.6% 5.0% 5.4% 4.8% 5.0% 4.1% 3.5% 3.1% 3.4% 3.1% 2.8% 3.0% 3.0% Kenya Uganda Tanzania Kenya Uganda Tanzania 2024 H1 Dec-23 2024 Q3 Jun-24 2024 Q4 Dec-24 17.6% 17.5% 16.0% 16.7% 13.0% 11.5% 12.4% 13.4% 10.0% 6.6% 9.4% 8.3% 1.8% 2.7% -1.3% -2.9% -3.3% -
Slide 4: Consumer behavior evolving
Consumer behavior evolving Low disposable income Value hunting Tega Alcohol share of wallet dropping by 0.2% Earnings growth slower than inflation impacting Desire to explore new & unique offerings discretionary spend
Slide 5: Our Strategy
Our Strategy eabl To create the best performing, most trusted and respected consumer products company in East Africa Win in Mainstream Spirits Vibrant Explode Beer Premium Shape New Frontiers Aspirational and Accessible Innovations Digital Transformation Route to Reputation, s ly Footprint Efficient
Slide 6: Volume, Net Sales, PAT, DPS
Volume Net Sales 7 +1% = | +2% PAT DPS (KES) 7+20% 7} 2.50
Slide 7: Continued growth momentum
Continued growth momentum eablé NSV (KES bn), HY
Slide 8: Organic growth of +8% at EABL
Organic growth of +8% at EABL NSV Growth (% YoY) +3% 20% of total EABL 1 +9% 66% of total EABL +16% 14% of total EABL
Slide 9: Vibrant beer
Vibrant beer 6ablt NEW PACK THIS IS WHAT HAPPENS WHEN NATURE Growth vs F24 CRAFTS A BEER T +1% YQU MAKE IT NSV (KES bn), HY
Slide 10: Explode premium
Explode premium eabl: Growth vs F24 T +11% =U NSV (KES bn), HY
Slide 11: Win in mainstream spirits
Win in mainstream spirits Growth vs F24 | 1% 1} in TULI-REIMAGINE TULI-REDESIGN TUKA-REFRESH ‘#HONOURTHESTREETS Hare) ‘SO LEMON, SOGINGER, SO UG, SO LIMITLESS
Slide 12: Shape new frontiers
Shape new frontiers eabl! Growth vs F23 1 +39% NSV (KES bn), HY
Slide 13: Exciting innovations propelling future growth
Exciting innovations propelling future growth eabl: Explode Premium New frontiers Win in Mainstream WHO NEEDS SALT AND LIM WHEN SMOOTH TEQUILA aes Tass wa ai ko HOME i. THE TRUE “i A flavour i everyone. KENYAN FLAVOUR nmrne LEMON & GINGER CASAMIGOS regal NSV (KES bn), HY
Slide 14: Excellent commercial execution
Excellent commercial execution eabl: Advantaged RtC Winning at the Point of Sale CRAFTED BY GUINNESS
Slide 15: Environmental (E) Social (S) Governance (G)
Environmental (E) Social (S) Governance (G) * Continued partnerships to conserve the environment + Malkia Strikers Team sponsorship to the Olympics Games + Sustainability Reporting continued across the ~ MoU to plant 1,000,000 trees by 2030 * Over 60,000 farmers across the region region
Slide 16: Diverse workforce that is highly engaged
Diverse workforce that is highly engaged eablé Diversity and inclusion Talent Culture
Slide 17: Awards
Digital marketing awards MSK awards Corporate Governance awards * Association of Tanzania employers awards * Marketing Society of Kenya awards National environment association awards * ESG awards * Digital Marketing awards * Non-executive directors awards * Confederation of Tanzania industries award
Slide 18: Financial Review
Slide 19: Strong delivery across key metrics
Strong delivery across key metrics eabl! Net Sales PAT 7+2% — |+20% FCF Total Debt } +13Bn | -5Bn Sa IMPOR
Slide 20: Income statement
Net Sales Cost of Sales Gross Profit Expenses Fx EBIT Net Finance Cost Profit Before Tax Income Tax Profit After Tax Attributable to: Equity holders NCI Earnings per Share 679 (39.8) 28.1 (13.7) 12 15.6 (3.4) 12.1 (4.0) 8.1 61 21 7.65 6.90 +2% +7% -5% +4% 151% +1% 13% +20% +22% +20% 411% +55% +11%
Slide 21: Currency movements: KES appreciation
FY25 P6 : * KES/UGX +13.4% * KES/TZS +23.0% Appreciation of KES above is for the period December 2023 – December 2024; CWA rates
Slide 22: Profit before tax bridge
+2.0 (+20%) 0.5 12.1 3.5 0.4 0.3 10.1 -2.1 -0.6 PBT Volume Price / Mix COGS Expenses FX Finance PBT F24 HY Costs F25 HY
Slide 23: Profit by country bridge
+3.5bn 1.2 0.7 -0.1 2.9 -2.3 F24 P06 KE UG TZ F25 P06
Slide 24: Total Debt
Total Debt —?— Effective cost of debt 5ibn 48bn 43bn + — _ F24 HY F24 FY F25 HY Til 15.6% 16.8% 16.6% Net Debt/ 1.23 117 0.81 EBITDA
Slide 25: Deferred income tax
49.8 84.4 Deferred income tax
Slide 26: Balance sheet ratios within target
Balance sheet ratios within target eablé Net Debt/EBITDA Current Ratio ROCE 115 1.07 (Board Target: <1.5) (CMA: >1x) FY22 FY23 FY24 HI F25 FY22 FY23 FY24 H1F25 FY22 FY23 FY24 H1F25
Slide 27: Cash flow movement
3.0 19.7 -3.8 -2.6 -3.5 14.1 10.8 -9.7 0.2 Cash & Cash Cash from ops Changes in WC Net interest Income tax Investing Financing Forex Cash & Cash Equivalents before WC activities activities Equivalents at Start Adjustments at End +2.7bn +0.2bn -0.4bn -0.8bn -1.8bn -0.1bn
Slide 28: Capital returns
-0.8bn (-19%) 12% 6% 5% F23 H1 F24 H1 F25 H1
Slide 29: Looking Ahead
Slide 30: Consumer Centricity
Consumer Centricity Smart investments Productivity Spirit of progress People
Slide 31: Q&A
Slide 32: Cautionary statement concerning forward-looking statements
Cautionary statement concerning forward-looking statements This document contains ‘forward-looking’ statements. These statements can be identified by the fact that they do not relate only to historical or current facts. In particular, forward-looking statements include all statements that express fo
Slide 33: EABL Celebrating Life
eabl: CELEBRATING LIFE
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