East African Breweries Plc · NSEKE:EABL
East African Breweries — FY2023 Earnings Presentation
32 slides from East African Breweries's earnings presentation, July 2023
Slide 1: F23 Results
F23 Results July 2023
Slide 2: Agenda
Agenda Business Review Financial Review Looking Ahead Q&A eabl&
Slide 3: Business Review
Business Review
Slide 4: Challenging Operating Environment
CHALLENGING OPERATING ENVIRONMENT
Slide 5: Tough Macros
TOUGH MACROS 7.6% 7.7% Le “11% Kenya Uganda Tanzania Kenya Uganda Tanzania 7% Kenya Uganda Tanzania 2021 MM 2022 Ml 2023F HM 202241 MM 2022H2 MM 20231 Mi v23 once % eo ea b le Sources: EIU June ’23; Currency appreciation / (depreciation) vs USD Dec 21.
Slide 6: Key Inflation Impacts to Our Business
KEY INFLATION IMPACTS TO OUR BUSINESS Electricity Neutral Spirits 31% 14% 40%
Slide 7: Average monthly consumer spend current vs pre-Covid
26 30 (23%) 41 (24%) 43 (33%) (39%) 28 (25%) 6 33 (5%) 12 (27%) 8 6 (10%) (7%) (5%) * Average monthly consumer spend Current vs Pre-Covid Source: OdipoDev, Coverage: East Africa
Slide 8: Our Strategy
OUR STRATEGY eabl To create the best performing, most trusted and respected consumer products company in Africa Vibrant explode Win in Shape New Beer ainstream Premium Frontiers Spirits Aspirational and Accessible Innovations igital Transformation Route to Reputation, 5 ly Footprint Efficient Growth
Slide 9: Kenya, Uganda, Tanzania
KENYA - 4% 64 % of total EABL UGANDA +17% 21 % of total EABL TANZANIA +1% 15% of total EABL
Slide 10: Category Performance
CATEGORY PERFORMANCE Revenue % vs LY Explode Mainstream Spirits -2% vs LY -3% vs LY
Slide 11: Slide 11
Slide 12: Exciting Innovations
EXCITING INNOVATIONS SMIRNOFF «SHALL WE?
Slide 13: Excellent Execution
EXCELLENT EXECUTION
Slide 14: Leading the Way in Digital Transformation
LEADING THE WAY IN DIGITAL TRANSFORMATION = THE—BAR THE — BAR Wis Tools for Efficiency
Slide 15: Digital Execution
DIGITAL EXECUTION Partner of Choice Glovo? JUMIA F000 Convenience THE—BAR Say it with A oct Harness at home hosting Last-Mile Solution
Slide 16: Society 2030: Spirit of Progress (ESG)
SOCIETY 2030: SPIRIT OF PROGRESS (ESG) GeoMory 331K students reached via SMASH 55% Reduction in carbon 57% Female beneficiaries in emission vs LY community programs
Slide 17: Microbrewery
MICROBREWERY
Slide 18: Our People
OUR PEOPLE 7 —
Slide 19: Award-Winning Brands ...
AWARD-WINNING BRANDS ... “WIUMIENI Aros Fi _Asurer suse a DISTINCTION. \E | URI
Slide 20: ... and Organisation
... AND ORGANISATION HR Awards MSK & Fire Awards a t i Sustainability Awards
Slide 21: Questions
ne) c be ® x s ° -s questions Please hold
Slide 22: Financial Review
Financial Review
Slide 23: Track Record of Strong Performance
TRACK RECORD OF STRONG PERFORMANCE Kes bn 109 110 —NSv Ti rat Fig FI9 F20 F21 F22 F23
Slide 24: Income Statement
INCOME STATEMENT Kes bn Net Sales Cost of Sales Gross Profit Expenses EBIT Net Finance Cost Profit Before Tax Income Tax Profit After Tax Attributable to: Equity holders NCI Earnings per Share F23 109.6 (62.2) 474 (23.2) 24.2 (5.5) 18.7 (6.4) 12.3 98 2.5 12.47 F22 109.4 (56.6) 52.9 (24.6) 28.3 (4.2)
Slide 25: Margin Evolution
MARGIN EVOLUTION 8.5% EBIT F22% Price 3.5% L] | ee -2.19 4.3% ee 2M% 1.3% Excise Fixed Cost Inflation Productivity Mix Expenses FX EBIT F23% Absorption
Slide 26: Balance Sheet
BALANCE SHEET 49 _ 43.4 ee 418 ies 03 ALD FY 22 Cash Stocks Debtors Income FY 23 FY 22 Creditors Bank Borrowings Leases Dividends FY 23 tax OD Non-Current Assets R29 a _ <2. _ 89.20 138 19 a 59.0 _ 75.0 -_ — — —— =_— | —_ FY 22 PPE Right Intangibles Deferred FY 23 FY 22 Borrowings Deferred —_ Leases
Slide 27: Key Ratios
KEY RATIOS Net Debt / EBITDA 21 (Board Target: <1.5) FY21 FY22 FY23 Current Ratio EBIT / Interest 67 (Board Target: >4.0) FY21 FY22 FY23 ROCE 1.04 41% 0.85 0.85 2 a FY21 FY22 FY23 FY21 FY22 FY23
Slide 28: Cashflow
CASHFLOW Kes bn Net cash from operations Kes 26.1bn 8.1 27 “13.0 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
Slide 29: Capex
CAPEX Kes bn FY Capex Capex by Category FY Other 4% Safety Trade coolers Innovations & Microbrewery Capacity Environmental Maintaining Current Ops F21 F22 F23 Returnables — Capex % NSV
Slide 30: Agenda
Agenda Looking ahead Q&A eabl®
Slide 31: Looking Ahead
_— ak Ww nN Stay close to our consumer Invest in our brands Embed everyday efficiency Society 2030 Our People
Slide 32: Q&A Session
East African Breweries — FY2023 Earnings Presentation on 6ix