Molson Coors Beverage Company · NYSE:TAP
Molson Coors Beverage — Q3 2022 Earnings Presentation
17 slides from Molson Coors Beverage's earnings presentation, Nov 1, 2022
Slide 1: Q3 FY 2022 Results & Outlook
Q3 FY 2022 Results & Outlook
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words "expects", "intend," "goals," "plans," "believes," "continues," "may," "anticipate," "seek," "estimate," "outlook," "trends," "future benefi
Slide 3: Gavin Hattersley, Chief Executive Officer
Chief Executive Officer Gavin Hattersley 3
Slide 4: Factors Supporting Our 2022 Guidance
• We are benefitting from strong pricing, particularly in the U.S., expected to be up close to 10% on average in Q4 2022 versus Q4 Factors 2021. • We are lapping the impact from the Omicron variant which closed on premise in both the U.K. and Canadian markets during Q4 2021. Supporting • We are plan
Slide 5: Addressing Challenges and Recognizing Opportunities
Challenge Significant Inflation / Higher Input Costs Central & Eastern Europe • Weaker Consumer Demand Opportunity U.S., Canada and the U.K. Addressing Challenges • • Resilient Consumer / Strong Pricing Trading Up Activity and Recognizing • • Positive & Stable Channel Trends Strong Portfolio if Cons
Slide 6: Continued Progress With Our Revitalization Plan
Continued Progress With Our Revitalization Plan Our Core Brands Our Global Portfolio Our Beyond Beer Portfolio are Getting Stronger Continues to Premiumize Continues to Expand * Brand share assertions per IRI 6
Slide 7: Consolidated Third Quarter 2022 Results
Consolidated Third Quarter 2022 Results Q3 2022* YoY Change Net Sales Revenue $2,935 +7.9%** Underlying Income Before Income $365 +0.5%** Taxes *** Underlying Earnings per Share*** $1.32 -24.6% Underlying Free Cash Flow – YTD $597 -36.0% through September *** Net Debt as of September 30, 2022 $6,063
Slide 8: Q3 2022 On-Premise Reopening
Canada On-premise 88% of 2019 total revenues U.K. On-premise >100% of 2019 total revenues U.S. On-premise 94% of 2019 total revenues Q3 2022 On-Premise Reopening 8
Slide 9: Consolidated Q3 2022 Revenue
Consolidated Q3 2022 Revenue Net Sales Revenue (constant currency) Brand Volume (HL in millions) NSR +7.9% 22.5 22.1 Volume Price Mix Q321 Q322 Financial volumes NSR/Hl on a brand volume basis Consolidated brand volumes declined 2.0% driven by the Americas, which were down 0.2% increased 9.2% driven
Slide 10: Consolidated Q3 2022 Underlying COGS/HL
Consolidated Q3 2022 Underlying COGS/HL Underlying COGS / HL* Underlying COGS / HL Drivers* +12% Deleverage Employing our levers to help mitigate the impact of inflation Pricing Mix Premiumization Inflation & Other** Hedging Cost savings Q321 Q322 Inflation/Other, including higher input mate
Slide 11: Americas: Q3 2022 Results
Americas: Q3 2022 Results Q3 2022* YoY % Change Net Sales Revenue $2,377 +7.4%** YoY Growth in NSR & NSR/HL (on brand Underlying Income Before volume basis) for U.S. and Canada $378 +10.5%** Income Tax*** Financial Volume 16.3 -1.0% Brand Volume 15.7 -1.5% Higher net sales revenue was supported by n
Slide 12: EMEA & APAC: Q3 2022 Results
EMEA & APAC: Q3 2022 Results Q3 2022* YoY % Change Net Sales Revenue $563 +9.6%** YoY Growth in NSR & NSR/HL (on brand Underlying Income Before volume basis) for EMEA & APAC $42 -38.9%** Income Tax*** Financial Volume 6.5 +2.0% Brand Volume 6.4 -3.1% Net sales revenue increased, driven by higher fin
Slide 13: Capital Allocation Priorities
Capital Allocation Priorities Net Debt Reduction Ended Q3 with a net debt of $6.1 billion, down $0.5 billion since December 31, 2021 including the repayment of $500 million 3.5% USD notes upon maturity on May 1, 2022 Reaffirmed net debt to underlying EBITDA ratio target of below 3.0x by the end of 2
Slide 14: Our 2022 Financial Guidance
Our 2022 Current Previous Net Sales Revenue, on a constant Mid-Single Digit Unchanged currency basis Growth Financial Income Before Income Taxes, on a constant currency basis High-Single Digit Growth (lower-end)* Unchanged Guidance Underlying Free Cash Flow Net Interest Expense $1B +/- 10% $265M +/-
Slide 15: Confident Driving
CONFIDENT in our Ability to Navigate Near- Term Macro Challenges While Investing in Our Business DRIVING Toward Our Goal of Long-Term Sustainable Top and Bottom- Line Growth 15
Slide 16: Questions & Answers
Questions & Answers MOLSON COORS enc
Slide 17: MOLSON -
MOLSON -
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