Royal Unibrew A/s · OMXCOP:RBREW
Royal Unibrew A/s — H1 2023 Earnings Presentation
15 slides from Royal Unibrew A/s's earnings presentation, 2023
Slide 1: H1 2023 Interim results Presentation
ROYAL UNIBREW H1 2023 Interim results Presentation By Lars Jensen (CEO) & Lars Vestergaard (CFO)
Slide 2: Disclaimer
ROYAL UNIBREW This half-year results presentation contains forward-looking statements, including statements about the Group’s sales, revenue, earnings, spending, margins, cash flows, inventories, products, actions, plans, strategies, objectives and guidance with respect to the Group’s future operati
Slide 3: Organic EBIT growth
ROYAL UNIBREW H1 2023 Interim results presentation 3 Organic EBIT growth Strong performance in multi-beverage markets • Very good performance in Northern Europe drives organic net revenue growth of 5% (H1 2023: 6%) despite an organic volume decline of 4% (H1 2023: -3%) • Organic EBIT growth of 3% (H
Slide 4: ESG highlights
ROYAL UNIBREW H1 2023 Interim results presentation 4 ESG highlights • Improved ESG rating received from Morningstar Sustainalytics • Water consumption improved driven by a change in product mix • Per hectoliter consumption of energy and emission of CO2 still impacted by the switch from natural gas t
Slide 5: Busy first half of the year
ROYAL UNIBREW H1 2023 Interim results presentation 5 Busy first half of the year • Multi-beverage markets in Northern Europe performing well • The Italian On-Trade wholesale beer channel normalized during the second quarter of the year • Successful product launches in Denmark and Finland • Lower sal
Slide 6: H1 2023 peer performance comparison
ROYAL UNIBREW H1 2023 Interim results presentation 6 H1 2023 peer performance comparison Organic volume growth Organic net revenue growth Organic EBIT growth 5 20 30 +3 +13 +16 15 20 0 +11 -1 +9.2 +8.9 +10 10 10 -2.1 +1.4 -5 -4.5 0 5 -0.5 -10 -10 0 -20 -5 -15 -30 -10 -40 -20 -15 -14 -50 -22 -50 -25
Slide 7: Italy
ROYAL UNIBREW H1 2023 Interim results presentation 7 Italy retail sell-out data Strong performance across categories BEER: Market development year-to-July (value): +4.3% Ceres development year-to-July (value): +10.2% CSD: Market development year-to-July (value): +12.3% Crodo development year-to-July
Slide 8: Financial performance Q2 and H1 2023
ROYAL UNIBREW H1 2023 Interim results presentation 8 Financial performance Q2 and H1 2023 • Volumes supported by extended partnerships, while being up against tough comparable numbers • Strong topline development supported by price increases • EBIT declined to DKK 710 million negatively impacted by
Slide 9: Results for H1 2023 - business segments
ROYAL UNIBREW H1 2023 Interim results presentation 9 Results for H1 2023 - business segments NORTHERN EUROPE WESTERN EUROPE INTERNATIONAL DENMARK, GERMANY, FINLAND, LATVIA, LITHUANIA, ESTONIA, ITALY AND FRANCE 65 MARKETS IN AMERICAS AND EMEAA NORWAY AND SWEDEN 5.4 mhl 4,931 mDKK 0.7 mhl 655 mDKK 0.5
Slide 10: Q2 2023 development in net revenue and EBIT
ROYAL UNIBREW H1 2023 Interim results presentation 10 Q2 2023 development in net revenue and EBIT Revenue bridge (mDKK) EBIT bridge (mDKK) +5% +7%
Slide 11: Free cash flow H1 2023 (mDKK)
ROYAL UNIBREW H1 2023 Interim results presentation 11 Free cash flow H1 2023 (mDKK) H1 2022: 926 17 -247 -134 562 -252 310
Slide 12: Outlook 2023
ROYAL UNIBREW H1 2023 Interim results presentation 12 Outlook 2023 • We now expect net revenue of around DKK 13 billion and EBIT in the range of DKK 1,600-1,750 million • Expectations for net revenue reduced due to poor weather and weak currencies • The expected EBIT range is narrowed by DKK 50 mill
Slide 13: Management agenda
ROYAL UNIBREW H1 2023 Interim results presentation 13 Management agenda • Keep monitoring consumer behavior and market developments • Focus on cost consciousness while supporting growth • Retain solid underlying growth • Execute on integration of acquisitions • Optimize production • Secure productio
Slide 14: Q&A
ROYAL UNIBREW H1 2023 Interim results presentation 14 Q&A
Slide 15: Thank you for your attention
ROYAL UNIBREW Thank you for your attention