United Breweries Limited · NSE:UBL
United Breweries — Q3 FY2022 Earnings Presentation
14 slides from United Breweries's earnings presentation, Jan 31, 2022
Slide 1: Intimation of Financial Results Earning Call
January 31, 2022 1. Department of Corporate Services, 2. Department of Corporate Services, BSE Limited, National Stock Exchange of India Ltd., Floor 25, P J Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai - 400 001 Mumbai – 400 051 Scrip Code: 532478 Scrip Code: UBL
Slide 2: Investec India invites you to UBL Q3 FY22 Earnings call
Investec India invites you to United Breweries Ltd Q3 FY22 Earnings call Post Earnings Business Update Diamond Pass Registration Monday, January 31, 2022 05:00 pm IST Management Team Mr. Berend Odink – Chief Financial Officer - United Breweries Limited Mr. PA Poonacha - Finance and Investor Relation
Slide 3: Investor Presentation Quarter ended Dec 2021
Investor Presentation Quarter ended Dec 2021 1
Slide 4: Disclaimer
Disclaimer This presentation contains forward-looking statements with regard to the financial position and results of UBL’s activities. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-loo
Slide 5: Key Results Highlights
Key Results Highlights o Volume growth of 19% in the quarter vs prior year driven by continued recovery of demand, prevalent across nearly all markets. 10% sequential volume growth. o Full recovery of volumes versus pre COVID levels. o UBL achieved share growth both in the quarter as well as in the
Slide 6: Q3'22 Results
Q3’ 22 Results Q3 Results (standalone) Data in Rs. Cr. Dec-21 Dec-20 Change (%) Net Sales 1,581 1,290 23% COGS (791) (595) 33% Gross Profit 790 695 14% Employee expenses (147) (124) 18% Other expenses (470) (397) 18% Other income 6 5 31% EBITDA 180 178 1% Depreciation (53) (58) -8% EBIT 127 120 5% F
Slide 7: YTD'22 Results
YTD’ 22 Results YTD Results (standalone) Data in Rs. Cr. Dec-21 Dec-20 Change (%) Net Sales 4,125 2,697 53% COGS (2,057) (1,295) 59% Gross Profit 2,068 1,402 48% Employee expenses (394) (349) 13% Other expenses (1,240) (935) 33% Other income 17 39 -57% EBITDA 451 157 188% Depreciation (164) (170) -3
Slide 8: Regional volume performance vs PY
Regional volume performance vs PY Volume Growth Q3, YTD Dec (+19%, +48%) East (+12%, +99%) North (+35%, +59%) o Driven by higher volume in Orissa, West o Driven by higher volume in Uttar Bengal, Meghalaya, Assam Pradesh, Rajasthan o Delhi market posted single digit growth due implementation of new p
Slide 9: Net Sales growth driven by higher volume
Net Sales growth driven by higher volume Revenue Q3 (in Rs. Cr) 248 (+19%) 43 (+3%) 1,581 1,290 Net Rev PY Volume Variance Mix / Price var Net Rev CY YTD 2,697 1288 (+48%) 140 (+5%) 4,125 o Higher volume in most markets driven by continued market recovery. o Favourable price/mix variance partially o
Slide 10: Volume growth and cost management led to improvement in EBITDA
Volume growth and cost management led to improvement in EBITDA EBITDA Q3 (in Rs. Cr) 95 (2) (56) 216 (36) 178 180 EBITDA PY Gross Profit Employee Other EBITDA CY Non-Recurring EBITDA CY expenses expenses/income excluding Non- Items Recurring Items Margin 1 3 .8% -390 bps 1 6 6 bps 208 bps 1 3.6% -22
Slide 11: Continued investment on rejuvenating and expanding our portfolio
Continued investment on rejuvenating and expanding our portfolio Kingfisher - new visual identity launched to continue iconicity drive o New range of packs introduced in Goa in December with high visibility and impactful in-store activation. o Very positive consumer feedback. Roll out on a national
Slide 12: Continued investment on rejuvenating and expanding our portfolio
Continued investment on rejuvenating and expanding our portfolio Ultra portfolio continues to expand it’s offering o Ultra draft launched in Maharashtra (Mumbai, Pune, Thane) in December; launch supported with bar staff training. o Digitally activated the launch of Ultra draught. o Ultra Witbier now
Slide 13: Outlook and summary
Outlook and summary o With the new Covid wave prevalent in India, UBL continues to focus on health & safety for its employees and stakeholders, while ensuring continued focus on cost actions and working capital management. o Although the Covid trajectory is unknown, the Company is confident in succe
Slide 14: Times Change, The Good Times Don't!
2000 Times Change, The Good Times Don't!