United Breweries Limited · NSE:UBL
United Breweries — Q4 FY2022 Earnings Presentation
13 slides from United Breweries's earnings presentation, Apr 26, 2022
Slide 1: Intimation of Financial Results Earning Call
April 26, 2022 1. Department of Corporate Services, 2. Department of Corporate Services, BSE Limited, National Stock Exchange of India Ltd., Floor 25, P J Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai - 400 001 Mumbai – 400 051 Scrip Code: 532478 Scrip Code: UBL D
Slide 2: Investec India invites you to United Breweries Ltd Q4 FY22 Earnings call
Investec India invites you to United Breweries Ltd Q4 FY22 Earnings call Post Earnings Business Update Wednesday, April 27, 2022 Diamond Pass Registration 02:00 pm IST Management Team Mr. Berend Odink – Chief Financial Officer Mr. PA Poonacha - Finance and Investor Relations Dial-In Numbers Universa
Slide 3: Investor Presentation Quarter and Year ended March 2022
Investor Presentation Quarter and Year ended March 2022 1
Slide 4: 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-loo
Slide 5: Key Results Highlights
Key Results Highlights o Volume growth of 7% in the quarter vs prior year driven by continued recovery of demand, prevalent across nearly all markets. 14% sequential volume growth. o Quarter started in January with muted demand due to Omicron variant, ending with a record month of March. o UBL achie
Slide 6: Q4'22 Results
Q4’ 22 Results Q4 Results (standalone) Data in Rs. Cr. Mar-22 Mar-21 Change (%) Net Sales 1,707 1,543 11% COGS (876) (741) 18% Gross Profit 831 802 4% Employee expenses (125) (133) -6% Other expenses (446) (408) 9% Other income 13 12 12% EBITDA 273 273 0% Depreciation (53) (62) -15% EBIT 220 211 5%
Slide 7: YTD'22 Results
YTD’ 22 Results YTD Results (standalone) Data in Rs. Cr. Mar-22 Mar-21 Change (%) Net Sales 5,832 4,241 38% COGS (2,933) (2,036) 44% Gross Profit 2,899 2,204 32% Employee expenses (519) (482) 8% Other expenses (1,685) (1,343) 26% Other income 30 50 -41% EBITDA 725 430 69% Depreciation (217) (232) -6
Slide 8: Regional volume performance vs prior year
Regional volume performance vs prior year Volume Growth Q4, YTD Mar (+7%, +33%) January impact from Omicron predominantly seen in most urban areas, strong March performance seen virtually across all states. East (+2%, +55%) North (+26%, +49%) o Driven by higher volume in Arunachal o Driven by higher
Slide 9: Net Sales growth driven by higher volume
Net Sales growth driven by higher volume Revenue Q4 (in Rs. Cr) 49 (+3%) 1,707 114 (+7%) 1,543 Net Rev PY Volume Variance Mix / Price var Net Rev CY YTD 4,241 1,387 (+33%) 204 (+5%) 5,832 o Higher volume in most markets driven by continued market recovery. o Favourable price variance partially offse
Slide 10: Higher volumes partially offset by increased commodity prices
Higher volumes partially offset by increased commodity prices EBIT Q4 (in Rs. Cr) 8 (36) 29 9 220 211 EBIT PY Gross Profit Employee expenses Other Depreciation EBIT CY expenses/income Q4 Margin 13.6% -330 bps 130 bps 34 bps 92 bps 12.9% o Gross profit growth due to volume growth, gross margin impact
Slide 11: Strong Cash Flow results
Strong Cash Flow results Improvement in cash flow owing to higher EBITDA and continued Working Capital reduction. Capex curtailed to minimum requirements. Last term debt has been pre-paid. Change in FOCF (in Cr) Rs. Cr. YTD Mar ∆ Cashflow in Rs. Cr. 325 7 2020-21 2021-22 (+/-) (24) (27) 721 Operatin
Slide 12: Outlook and summary
Outlook and summary o Although the Covid trajectory remains unknown, the Company is confident in successfully navigating any potential impacts with an agile response. o With the demand picture normalizing, the Company is gearing up for the season that has shown a promising start in March. o The comm
Slide 13: Times Change, The Good Times Don't!
2000 Times Change, The Good Times Don't!