Anadolu Efes Biracilik Ve Malt Sanayii A.s. · BIST:AEFES
Anadolu Efes Biracilik Ve Malt Sanayii A.s — Anadolu Efes — Q1 2022 Earnings Presentation
17 slides from Anadolu Efes Biracilik Ve Malt Sanayii A.s's earnings presentation, May 10, 2022
Slide 1: Anadolu Efes 1Q2022 Conference Call Presentation
ANADOLU EFES 1Q2022 CONFERENCE CALL PRESENTATION 10.05.2022
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain certain forward-looking statements concerning our future performance and should be considered as good faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently available
Slide 3: General Overview & Operating Environment
GENERAL OVERVIEW & OPERATING ENVIRONMENT Can Çaka CEO & Beer Group President 3
Slide 4: Solid start to the year despite headwinds
Solid start to the year despite headwinds… Strong volume growth with on-trade Effective use of hedging tools recovery and pre-buying behavior Robust topline growth supported by successful Superior management of payables Revenue Growth Management together with prudent capex spending EBITDA margin exp
Slide 5: Volumes exceeding expectations in 1Q
…with volumes exceeding expectations in 1Q Consolidated Beer Operations’ Soft Drink Operations’ Volumes* Volumes* Volumes* 14% reported growth 5% growth 18% growth 9% organic** growth International : +4% International:+30% Domestic: +17% Domestic:+2% Middle Ukraine Turkey East CIS 5% 11% 8% 11% 29%
Slide 6: Beer Group 1Q Highlights
Beer Group 1Q Highlights Russia CIS • Own volumes up mid-teens • Volumes up by low-to-mid single digits • Customers’ pre-buying due to; • Kazakhstan started the year with some tension grew • Expectations of subsequent significant price by low single digit y-o-y adjustments • Mid-single digit growth
Slide 7: Soft Drinks 1Q Highlights
Soft Drinks 1Q Highlights • Volume growth of 18% reported • Turkey volume grew by 2% • 10% growth organically* • Highest ever 1Q RTD beverages performance • Sparkling category growth of 16% • Juice and iced tea growth, recovery at on-trade • Coca-ColaTM grew by 15% channel & segmented marketing camp
Slide 8: Well-balanced topline & profitability performance
Well-balanced topline & profitability performance NET REVENUE EBITDA BNRI (%) NET INCOME FREE CASH FLOW Anadolu Efes 1Q 1Q 1Q 1Q TL 13,769 mn TL 2,251 mn TL -132 mn TL -702 mn +124% Margin: 16.3% (Excl. Impairment: TL 273.6m ) (+474 bps) • Strong volume performance • Robust gross profitability; • In
Slide 9: Financial Overview
FINANCIAL OVERVIEW Gökçe Yanaşmayan 9 Chief Financial Officer
Slide 10: Financials
Financials Anadolu Efes Beer Group mn TL mn TL 1Q2021 1Q2022 Change 1Q2021 1Q2022 Change Sales Revenue 6,159 13,769 123.5% Sales Revenue 2,412 5,104 111.6% Gross Profit 1,952 4,787 145.2% Gross Profit 693 1,945 180.8% EBITDA (BNRI) 715 2,251 214.7% EBITDA (BNRI) -47 453 n.m. Free Cash Flow -251 -702
Slide 11: Improved Profitability & Free Cash Flow Generation
Improved Profitability & Free Cash Flow Generation Beer Group EBITDA (BNRI) Bridge Free Cash Flow Bridge mn TL mn TL +500 mn +483 mn +40% +19% Improvement in cash -107.2 -300.4 generation driven by 417.1 +37% -326.5 higher profitability, 452.6 959.0 -349.5 -105.9 superior payables 190.9 500.0 perfor
Slide 12: Balance Sheet & Risk Management
Balance Sheet & Risk Management Beer Group Hedges**: Anadolu Efes Cash Profile Debt Profile Commodity: 25% 21% TL 16.1 bn TL 29.8 bn Aluminum: 67% Effective use of ($1.1 bn) ($2.0 bn) hedging tools 75%* 79%* PET/Resin: 92% mitigate the *hard currency Barley: 84% Average maturity: 3.9 years Net Debt/
Slide 13: Revised 2022 Outlook
Revised 2022 OUTLOOK Can Çaka 13 CEO & Beer Group President
Slide 14: Resilient Performance Despite Headwinds, guidance largely maintained
Despite uncertainties Resilient Performanceahead, Despite Headwinds guidance is largely maintained… Despite lost volumes from UKRAINE, our revenue and EBITDA margin guidance stays the same, as a result of higher price adjustments than previously planned. ANADOLU EFES BEER GROUP SOFT DRINKS GROUP Mid
Slide 15: Closing Remarks
CLOSING REMARKS Can Çaka 15 CEO & Beer Group President
Slide 16: Q&A Session
Q&A SESSION Can Çaka CEO & Beer Group President Gökçe Yanaşmayan 16 Chief Financial Officer
Slide 17: FX Rates
FX Rates 1Q2021 1Q2022 Δ% AVG 7.38 13.94 88.8% USD/TL PE 8.33 14.64 75.8% AVG 8.90 15.64 75.7% EUR/TL PE 9.77 16.29 66.7% AVG 10.07 6.17 -38.7% TL/RUB PE 9.09 5.74 -36.8% AVG 56.88 32.79 -42.4% TL/KZT PE 50.97 31.30 -38.6% AVG 3.79 2.05 -45.9% TL/UAH PE 3.35 2.00 -40.3% AVG 2.37 1.30 -45.2% TL/MDL P