Corby Spirit And Wine Limited Class A · TSX:CSW.A
Corby Spirit And Wine Limited Class A — Q2 FY2025 Earnings Presentation
25 slides from Corby Spirit And Wine Limited Class A's earnings presentation, Feb 13, 2025
Slide 1: Earnings Call
Ear nings Call For the periods ending December 31, 2024 F e b r u a r y 1 3 th, 2 0 2 5 TSX: CSW.A and CSW.B
Slide 2: Summary
SUMMARY S E C T I O N 1 | Market context S E C T I O N 2 | Growth Strategy S E C T I O N 3 | Q2 and H1 FY25 financial results S E C T I O N 4 | Conclusion: Why invest in Corby
Slide 3: Today's speakers
To d a y ’ s s p e a k e r s NICOLAS KRANTZ President & CEO JUAN ALONSO Vice-President & CFO
Slide 4: Forward-Looking Statement
Forward-Looking Statement ➢ Today’s presentation contains forward-looking statements, including statements concerning possible or assumed future results of operations of Corby Spirit and Wine Limited. Forward-looking statements typically are preceded by, followed by or include the words “believes”,
Slide 5: Strong H1 performance, demonstrating resilience and the strength of Corby portfolio
Strong H1 performance, demonstrating resilience and the strength of Corby portfolio Double-digit revenue growth in H1, with +4% organic growth supplemented by Nude business acquisition • Continued to deliver resilient retail value growth across our diversified brand portfolio, consistently outpaced
Slide 6: Market Context
SECTION 1 MARKET CONTEXT
Slide 7: Corby beats the market
Corby beats the market Corby has been consistently outperforming the Canadian market in value since FY23 MARKET CORBY SPIRITS -1.9% -0.3% RTD +6.8% +12% WINE, RTD, AND SPIRITS -0.8% +0.2% Source: ACD (R12 Dec‘24) – Retail $ Value including Duty Free. Retail sales data for Nude Beverages in Alberta i
Slide 8: Corby outpaced the market in almost all spirits categories in the last 12 months
Corby outpaced the market in almost all spirits categories in the last 12 months C A N A D I A N S P I R I T S M A R K E T R E TA I L V A L U E 1,703 R12 Retail Value ($m) 1,084 1,036 1,027 546 462 305 283 283 178 VODKA CANADIAN LIQUEURS RUM TEQUILA GIN SINGLE MALT BLENDED BOURBON IRISH WHISKEY WHIS
Slide 9: Growth Strategy
SECTION 2 G R O W T H S T R AT E G Y
Slide 10: Our strategy to generate long-term sustainable growth and value
Our strategy to generate long-term sustainable growth and value Grow portfolio sustainably at a faster rate than the overall spirits market • Supported by best-in-class brand activation and excellence in commercial execution • Impactful innovative launches to deliver roughly one-third of our annual
Slide 11: Total Corby RTD portfolio has been gaining share in value over the last 12 months
Total Corby RTD portfolio has been gaining share in value over the last 12 months, sustained by a strong innovation pipeline Corby/PR RTDs Recent acquisitions of ABG and Nude brands enabled Corby to enter at scale Successful innovations one of the most dynamic beverage alcohol categories in the 5th
Slide 12: Q2 and H1 FY25 Financial Results
SECTION 3 Q2 AND H1 FY25 F I N A N C I A L R E S U LT S
Slide 13: Q2 FY25 Results
Q2 FY25 RESULTS CORBY
Slide 14: Strong Q2 FY25 earnings and profitability growth
Strong Q2 FY25 earnings and profitability growth supported by core brand strength, new channel expansion and Nude acquisition Revenue Reported +10% Organic1 +5% Cash from Operating Activities Adj. EBITDA1 +10% Q2 Dividend declared Adj. Net Earnings per share1 Reported +8% Adjusted1 +8% 14 Three-mont
Slide 15: Corby's Q2 Revenue was $61.7m, growing +10% vs last year
Corby’s Q2 Revenue was $61.7m, growing +10% vs last year • Led by RTD business benefitting from Domestic Reported the RTM modernization in Ontario Case Goods +10% • Spirits kept gaining market share in a Organic1 $48.2 million declining spirits market +3% • Nude contributed $3.0m Revenue Total Repor
Slide 16: Robust earnings improvement, including EPS growth of +8%
Robust earnings improvement, including EPS growth of +8% Q2 Q2 % C$m FY24 FY25 change $0.30 Revenue 56.0 61.7 +10% +8% Total operating expenses2 (44.7) (48.6) +9% Earnings from Operations 11.4 13.0 +15% ADJUSTED EPS1 Adj. Earnings from Operations1 12.0 13.0 +9% Adj. EBITDA1 15.7 17.2 +10% $0.28 Net
Slide 17: H1 FY25 Results
H1 FY25 RESULTS CORBY
Slide 18: Strong H1 FY25 revenue and earnings growth
Strong H1 FY25 revenue and earnings growth, with continued share gains against a dynamic market backdrop Cash from Revenue Reported +11% Operating Activities Organic1 +4% Adj. EBITDA1 H1 Dividends declared +9% Adj. Net Earnings Net Debt / per share1 Reported +16% Adjusted EBITDA1 Adjusted1 +8% 18 Si
Slide 19: Corby's H1 Revenue was $126.8m, growing +11% vs last year
Corby’s H1 Revenue was $126.8m, growing +11% vs last year • ABG brands (excl. Nude) grew +10% Domestic Reported • Capitalized on pipeline fill opportunities in Ontario grocery and Case Goods +11% Organic1 convenience stores $101.6 million +3% • Strong performance despite negative impact of LCBO stri
Slide 20: Strong adjusted EPS growth of +8%, supported by disciplined execution
Strong adjusted EPS growth of +8%, supported by disciplined execution H1 H1 % C$m FY24 FY25 change Revenue 114.7 126.8 +11% $0.66 Total operating expenses2 (91.9) (98.7) +7% +8% Earnings from Operations 22.8 28.0 +23% ADJUSTED Adj. Earnings from Operations1 26.2 28.6 +9% EPS1 Adj. EBITDA1 33.7 36.7
Slide 21: Healthy balance sheet and solid cash flow
Healthy balance sheet and solid cash flow, highlighting the sustainability of Corby’s attractive quarterly dividend H1 H1 $ C$m FY24 FY25 change Net Cash / (Debt), beginning of period 39.4 (105.8) (145.2) 53% 93% Net earnings adjusted for non-cash items 30.1 36.0 +5.9 Net change in non-cash working
Slide 22: Building off a solid foundation, Corby is well-positioned for balance of FY25
Building off a solid foundation and a clear strategy, Corby is well- positioned for continued success in the balance of FY25 In a volatile market environment, we anticipate continued resilience in the back half of fiscal 2025: • Additional market share gains in a spirits market forecasted to decline
Slide 23: Conclusion: Why invest in Corby
SECTION 4 C O N C LU S I O N : W H Y I N V E S T I N C O R BY
Slide 24: Why invest in Corby?
Why invest in Corby? Largest publicly-listed, multi-beverage alcohol company in Canada with the most 1 comprehensive & diverse portfolio in the industry Close partnership with Pernod Ricard, a global industry leader, bringing strategic advantages, 2 best practices, and operational and financial supp
Slide 25: Thank you
T H A N K YO U Questions or looking for more information? Please reach out to investors.corby@pernod-ricard.com FOLLOW US TSX: CSW.A and CSW.B
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