Slide 1: Analysts & Investors Conference Call 2024 Full Year Results
ANALYSTS & INVESTORS CONFERENCE CALL 2024 FULL YEAR RESULTS
Slide 2: Disclaimer
DISCLAIMER This presentation may contain forward-looking statements on the financial position and results of the activities of Nigerian Breweries Plc. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in
Slide 3: Agenda
2024 Full Year Review Nigerian Breweries at a Glance Operating Environment Our Strategy to Win AGENDA 2024 Full Year Financial Performance Review Summary 2025 Outlook Winning Beyond Limits Q&A
Slide 4: 2024 Full Year Review
2024 Full Year Review Hans Essaadi Managing Director
Slide 5: Nigerian Breweries at a Glance
₦ ₦ ₦ ₦ * Net debt is interest-bearing debt less cash and cash equivalent Figures as at December 2024
Slide 6: National Minimum Wage raised from ₦30,000 to ₦70,000
The Act raises the National Minimum Wage from ₦30,000 to ₦70,000 per month,
Slide 7: Operating environment: fuel prices and exchange rates
40.0 1.477 1.657 39.9 39.8 1,256 37.5 1,200 1.480 1.446 35.4 33.9 1.177 1.557 1.106 1.151 1.140 1.251 900 1.012 1.090 845 910 907 565 735 522 456 Apr-24 Mar-24 Jan-24 Sep-24 Dec-23 Dec-24 Dec-23 Jun-24 Dec-24 Jan-24 May-24 Nov-24 Aug-24 Oct-24 Mar-24 Dec-23 Dec-24 Dec-24 Jan-24 Nov-24 Petrol Diesel
Slide 8: Weathered the Storm with our Business Recovery Plan
Weathered the Storm with our Business Recovery Plan | A set of actions for operational efficiency and financial stability Driven by Excellent Communications & Stakeholder Engagement with Community Support
Slide 9: Winning with GenZs Category Disruptors Portfolio Transformation
Winning with GenZs Category Disruptors Portfolio Transformation Pack-Price Innovations Setting trends with our brands 9
Slide 10: Premium Portfolio
Premium Portfolio |
Slide 11: Mainstream Portfolio
Mainstream Portfolio | Identified with cultural events & festivities to excite our consumers DRINK RESPONSIBLY. NOT FOR SALE TO PERSONS UNDER THE AGE OF 18
Slide 12: Beyond Beer Portfolio
Beyond Beer Portfolio | Connecting with Gen Z values, amplifying lifestyle experiences, and pioneering innovations to fuel incremental growth. wz *\\ DAYS of CHRISTMA s > Se IS HiE RIE
Slide 13: Dark Beer Portfolio
Dark Beer Portfolio | Event partnerships and impactful trade activations were major growth drivers for 2024
Slide 14: MALT Portfolio
MALT Portfolio | Revitalize the category through innovative communication and product revamp to drive coolness and differentiation. By STYLE PATROL 1710: L MENSCATEGORY | =
Slide 15: Affordable Malt Proposition
Affordable Malt Life 45cl Returnable 100% locally-sourced Affordable Stout Proposition bottle ingredients
Slide 16: Strengthening our winning culture and safe, inclusive work environment
We continue to strengthen our winning culture while fostering a safe, caring and inclusive work environment Our Climate scores continue to grow Empowering individuals and teams to Creating an inclusive across all dimensions. own their overall well-being and safety environment for all to thrive RESPO
Slide 17: Building key capabilities to unlock our people's potential
We invested in building key capabilities to unlock our people's potential Capability building programs to develop a high- Leader-led engagement sessions to inspire, develop and retain our Talent performing team DEVELOPING A QUALITY | PERSONAL DEVELOPMENT 0 7a \ —— . ) @ J: Ne Mentoring 4 Programme ‘
Slide 18: Our Route to Consumer continues to grow
Our Route to Consumer continues to grow covering 68% of NB customers 544k Outlets Covered a Net Promoter Score QUT OF STOCK | IN YOUR OUTLET B2B Platform WITH 8 5 @ NPS = % of Promoters — Detractors | NPS = 855 (sustained vs Ly) i Vi THANG Front Line Sales NPS % of Revenue = 65% Customer Service / T
Slide 19: Sustainability remains at the Heart of our Business
Sustainability remains at the Heart of our Business Environmental We continue to raise the bar on our Brew a Better World agenda with focus on three pillars: * Raising the bar on climate action * Accelerating our social sustainability agenda through community impact * Addressing the harmful use of a
Slide 20: Modernizing our footprint - Breweries upgrade
Modernizing our footprint - Breweries upgrade Ama and Kudenda finalized Ama expansion is operational and online. Kudenda 90% completed Main objectives: — Replacement of older equipment — Key enabler to drive our Premium agenda - Increase capacity ahead of future market growth Improving economic acti
Slide 21: 2024 Full Year Financial Performance Review
2024 Full Year Financial Performance Ben Wessels Boer Review Finance Director
Slide 22: Revenue, Gross Profit, Operating Profit growth
+81% +50% 2023 +59% 2024 +36% Revenue Gross Profit Operating Profit Net Profit +145% +1.244% -51% 2023 2024 +712% Q1 Q2 Q3 Q4
Slide 23: FY 2024 Revenue to Operating Profit
₦ Nigerian Breweries FY 2024 Jan - Dec ₦'m 2024 2023 Var. (%) Revenue 1,084,436 599,643 80.8% Cost of Sales (764,520) (387,033) -97.5% Gross Profit 319,916 212,610 50.5% Other income 4,029 2,958 36.2% Selling and distribution expenses (203,239) (142,493) -42.6% Administrative Expenses (46,755) (28,6
Slide 24: FX Purchases, FX Needs and FX Debt
367 1650 1550 221 211 204 191 191 170 166 180 168 139 143 114 119 81 88 362 59 30 26 -37 2019 2020 2021 2022 2023 2024 2018 2019 2020 2021 2022 2023 2024 FX Purchases (incl Right Issue) FX Needs FX Debt/(Asset) 24
Slide 25: FY 2024 Income Statement
₦ Nigerian Breweries FY 2024 Jan - Dec ₦'m 2024 2023 Var. (%) Revenue 1,084,436 599,643 80.8% Cost of Sales (764,520) (387,033) -97.5% Gross Profit 319,916 212,610 50.5% Other income 4,029 2,958 36.2% Selling and distribution expenses (203,239) (142,493) -42.6% Administrative Expenses (46,755) (28,6
Slide 26: Q4 2024 vs Q4 2023
Nigerian Breweries Q4 2024 vs Q4 2023 Oct - Dec ₦'m 2024 2023 Var. (%) Net Revenue 373,564 197,842 88.8% ₦ Cost of Sales (263,561) (137,792) -91.3% Gross Profit 110,003 60,050 83.2% Other income 631 1,004 -37.1% Marketing and distribution expenses (60,138) (40,940) -46.9% Operating Increase in Incre
Slide 27: Group Financial Position
Group Financial Position Trend Trend Dec-24 ₦'m Sep-24 ₦'m Dec-23 ₦'m Dec 24 vs 23 Dec 24 vs Sep 24 Property, Plant & Equipment 535,271 478,331 441,433 21% 12% Right of Use Assets 8,996 8,993 8,945 1% 0% Investment 150 150 150 0% 0% Intangible Assets & Goodwill 99,844 103,222 91,914 9% -3% Inventori
Slide 28: 2024 Financial Summary
2024 Financial Summary | Building a sustainable growth model in Nigeria * Foreign exchange volatility and high capital costs resulted in significantly increased operating and finance costs. * Despite these challenges, we achieved a 79% year-on-year revenue growth, driven by strategic pricing, market
Slide 29: 2025 Outlook
2025 Outlook Hans Essaadi Managing Director
Slide 30: Our Strategy to Win
EverGreen Our Strategy to Win SAS Lead and Accelerate Premium led by Heineken®, Tiger, Desperados and Legend Grow Value and Protect Volume in Mainstream Lager led by Goldberg and Life Grow value with our Premium Malt brands led by Maltina Unapologetically Expand Beyond Beer with Distell Portfolio an
Slide 31: Q&A
& Sade Morgan Corporate Affairs Director
Slide 32: PAGE 32
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