United Breweries Limited · NSE:UBL
United Breweries — Q3 FY2025 Earnings Presentation
16 slides from United Breweries's earnings presentation, December 2024
Slide 1: Investor Presentation
Investor Presentation Quarter and YTD ended December 2024 1
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: Q3 Highlights
Q3 Highlights Volume Premium Volume +8% +33% Net Sales Gross Margin +10% 43.1% (-86 bps vs LY) EBIT Profit after Tax -24% -55%
Slide 4: YTD Q3 Highlights
YTD Q3 Highlights Volume Premium Volume +6% +35% Net Sales Gross Margin +10% 43.3% (+46 bps vs LY) EBIT Profit after Tax +13% +5%
Slide 5: Q3 volumes accelerating to 8% with premium volumes growing 33%
Q3 volumes accelerating to 8% with premium volumes growing 33% Gaining share in the quarter, both overall and in premium Volume Growth1 (+8% ITQ, +6% YTD) North (+16%) East (+3%) Volume growth in Uttar Pradesh Volume growth in Assam & Meghalaya & Rajasthan partially offset by a decline in West Benga
Slide 6: Volume growth accelerating in Q3
Volume growth accelerating in Q3 44% 33% 27% 21% 14% 10% 11% 8% 8% 7% 5% 5% Q2-FY24 Q3-FY24 Q4-FY24 Q1-FY25 Q2-FY25 Q3-FY25 Total Volume Premium Volume 6
Slide 7: Q3 - FY25 Results
Q3 - FY25 Results Q3 Results (standalone) Data in Rs. Cr. Dec-24 Dec-23 Change (%) Net Sales 1,998 1,823 10% COGS (1,137) (1,021) 11% Gross Profit 862 802 7% Employee expenses (167) (157) 6% Other expenses (554) (499) 11% Other income 10 24 -58% EBITDA 151 170 -11% Depreciation (61) (52) 18% EBIT 90
Slide 8: YTD-FY25 Results
YTD-FY25 Results YTD Results (standalone) Data in Rs. Cr. Dec-24 Dec-23 Change (%) Net Sales 6,586 5,984 10% COGS (3,733) (3,419) 9% Gross Profit 2,853 2,565 11% Employee expenses (523) (468) 12% Other expenses (1,677) (1,543) 9% Other income 28 47 -40% EBITDA 681 600 14% Depreciation (176) (154) 14
Slide 9: Q3 FY25 Net Sales increase fueled by accelerated volume growth and price-mix
Q3 FY25 Net Sales increase fueled by accelerated volume growth and price-mix Net sales Q3 (Rs. In Cr) 1,998 1 Volume growth mainly driven by Telangana, Andhra Pradesh, Uttar Pradesh & Rajasthan partially offset by Tamil Nadu and West Bengal. 1,823 8% 2% 2 Positive Price Mix is driven by price increa
Slide 10: YTD FY25 10% topline growth driven by continued volume momentum and Price Mix
YTD FY25 10% topline growth driven by continued volume momentum and Price Mix Net sales YTD (Rs. In Cr) 6,586 1 Volumes grew by 6% driven by strong performance from broad based growth across our footprint partially off-set by Tamil Nadu, 5,984 Kerala & Delhi. 6% 4% 2 Positive Price Mix is driven by
Slide 11: Q3-FY25 EBIT is down Rs 28 Cr
Q3-FY25 EBIT is down Rs 28 Cr. Positive impact from gross profit growth was partially off-set by investments behind our organization & our supply chain ahead of the peak season Rs. Cr -28 (-24%) 1 118 90 2 EBIT Q3-PY Gross Profit Employee expenses Other expenses Other Income EBIT Q3-CY & Depreciatio
Slide 12: 13% EBIT growth from volume and price-mix resulting in EBIT margin expansion
13% EBIT growth from volume and price-mix resulting in EBIT margin expansion partially offset by investments behind our brands & organization EBIT YTD (Rs. In Cr) 1 Gross Profit improvement driven by volume and price mix. GP margin 46 bps up vs LY 505 driven by revenue management & cost 446 initiati
Slide 13: Volume growth with 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 +46 bps +11.2% 43.3 % 2,853 42.9 % +21 bps 7.7 % 7.4 % 2,565 +13.2% 505 446 GP Margin EBIT Margin GP EBIT YTD FY24 YTD FY25 13
Slide 14: 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 15: 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 We remain optimistic about the
Slide 16: Q&A
Q&A Brewing the Good Times