Becle, S.a.b. De C.v. · BMV:CUERVO
Becle, S.a.b. De C.v — Q1 2026 Earnings Presentation
19 slides from Becle, S.a.b. De C.v's earnings presentation, Apr 30, 2026
Slide 1: 1Q26 Conference Call
1Q26 Conference Call Becle, S.A.B de C.V. April 30, 2026 1
Slide 2: Juan Domingo Beckmann, Chief Executive Officer
Juan Domingo Beckmann Chief Executive Officer 2
Slide 3: Consolidated and Regional Performance
Consolidated and Regional Performance Consolidated Volume Net Sales Value(1) Gross Margin(1) EBITDA(1) 1Q26 -13.4% -13.5% 56.1% (contracted 170bps YoY) 1.4 billion (36% decrease YoY) U.S. & Canada Mexico & LatAm EMEA & APAC Distributor transition Strong momentum throughout the Positive trends in bot
Slide 4: Mauricio Vergara, U.S. & CAN
Mauricio Vergara U.S. & CAN 4
Slide 5: U.S. & Canada 1Q26 Performance
U.S. & Canada 1Q26 Performance This is a period of transition for the business, driven by the execution of our distributor realignment strategy and deliberate actions to reduce inventory levels. There is a clear divergence between transition and non-transition markets 1Q26 vs. 1Q25 Shipments Depleti
Slide 6: U.S. & Canada 1Q26 Performance
U.S. & Canada 1Q26 Performance From a category standpoint, headwinds for full-strength spirits have Transition Markets represent the largest portion of the markets intensified during the quarter measured by Nielsen IQ Tequila Volume(1) SipSource Depletion Data through February Flat -3.6% Inventory -
Slide 7: U.S. & Canada – Channel Data
U.S. & Canada – Channel Data We are increasing our focus and shifting investment towards high-impact accounts in major cities, as the on-premise channel remains critical for brand building and long-term growth. Channel Performance Industry Volume by Channel(1) On-premise +200bps 7 Off-premise Off-Pr
Slide 8: Olga Limón, Mexico & LatAm
Olga Limón Mexico & LatAm 8 8
Slide 9: Mexico & LatAm 1Q26 Performance
Mexico & LatAm 1Q26 Performance The pace of contraction has moderated compared to last year Becle’s Volume & Value Performance Excluding b:oost 6.1% 2.0% 1Q25 1Q26 -13.3% + -13.8% Volume Value Volume Performance 1Q26 Including B:oost Excluding B:oost -6.9% +6.1% 9 9 9
Slide 10: Mexico - NISCAM Data through February 2026
Mexico - NISCAM Data through February 2026 According to NISCAM data through February, our performance in Mexico clearly outpaced the industry. Total Industry Volume Tequila Category Volume +0.1% Becle Industry Becle Industry -1.3% -0.8% -3.2% Total Industry Value Tequila Category Value Becle Industr
Slide 11: Shane Hoyne, EMEA & APAC
Shane Hoyne EMEA & APAC 11
Slide 12: EMEA & APAC Performance
EMEA & APAC Performance The first quarter of 2026 marked the third consecutive quarter of growth for EMEA and APAC. This reflects the underlying strength of our brands in what remains a relatively flat market environment. Shipments and Depletions Evolution 15% 11% 9.7% 8.4% 2% 2.2% 0% -5% -13.9% -14
Slide 13: Rodrigo de la Maza, Chief Financial Officer
Rodrigo de la Maza Chief Financial Officer 13
Slide 14: Key Financial Metrics
Key Financial Metrics 1Q26 Volume to NSV Bridge Gross Margin Evolution This margin level is still higher 57.8% than the historical average 56.1% 56.1% 55.1% 55.2% 54.3% 54.1% 52.8% Reported 53.1% 52.1% -13.4% -0.1% -9.6% -23.1% Volume Price/Mix FX Impact Net Sales Value The Company reported a 23.1%
Slide 15: Key Financial Metrics
Key Financial Metrics 20.9% Operating Income YoY % ∆ 19.1% 20.4% -24.9% YoY % ∆ 12.3% 1Q25 1Q26 9.2% -62.8% AMP as a % of NSV 4.7% YoY % ∆ 1Q25 Reported 1Q26 Constant Currency 1Q26 Reported EBIT Margin 4.3% -15.1% EBITDA 1Q25 1Q26 22.5% Distribution as a % of NSV 16.7% 13.9% YoY % ∆ 17.5% 13.1% YoY
Slide 16: Key Financial Metrics
Key Financial Metrics Net Income Evolution Strong track record of generating Net Cash from Operating Activities 4,123 4,338 Extraordinary ($2,475) 3,458 3,328 3,253 2,394 2,196 2,006 2,112 1,732 1,544 1,591 1,508 1,358 1,166 1,010 907 501 390 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 4Q23 1Q24 2Q
Slide 17: Lower Leverage
Lower Leverage Lease adjusted Net Debt / EBITDA 2.3x 2.1x 1.9x 1.7x 1.0x 1.0x 0.9x 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 17
Slide 18: Confirming our 2026 Guidance
Confirming our 2026 Guidance 1 2 3 NSV AMP CAPEX Decline in the low-single digit range, on a constant currency Range of US$90-110 Range of 19% to 21% of NSV basis million dollars 18
Slide 19: Q&A
Q&A 19
Becle, S.A.B. de C.V. — Q1 2026 Earnings Presentation on 6ix