Royal Unibrew A/s · OMXCOP:RBREW
Royal Unibrew A/s — Q3 2023 Earnings Presentation
14 slides from Royal Unibrew A/s's earnings presentation, 2023
Slide 1: Q3 2023 Trading statement Presentation
WA —— * Q3 2023 Trading statement Presentation By Lars Jensen (CEO) & Lars Vestergaard (CFO)
Slide 2: Disclaimer
ROYAL UNIBREW Disclaimer This trading statement presentation contains forward-looking statements, including statements about the Group's sales, revenue, earnings, spending, margins, cash flows, inventories, products, actions, plans, strategies, objectives and guidance with respect to the Group’s fut
Slide 3: Profitability improvement
ROYAL UNIBREW Profitability improvement Strong performance despite poor weather Poor weather in July and August resulted in an 8% organic volume decline Pricing discipline secured an organic price/mix of 7% Organic EBIT growth of 2% resulted in an EBIT margin expansion of 30bp Acquisitions contribut
Slide 4: ESG highlights
Q3 2023 Trading statement presentation ESG highlights * Our science based ESG targets validated by the SBTi * Roadmaps for becoming 100% emission free (scope 1 and 2) in 2025 are finalized * We have added more ambitious targets for our scope 3 emission reduction for 2030 * Our solar park in Faxe has
Slide 5: Key developments in Q3
Q3 2023 Trading statement presentation Key developments in Q3 * Markets share gains in most markets * Organic EBIT growth and margin expansion despite poor weather * Good performance on the expanded partnerships with PepsiCo and Diageo * First signs of a weaker consumer environment * The acquisition
Slide 6: Financial performance
ROYAL UNIBREW Financial performance Q3 2023 + Volumes hit by poor summer weather in July and August * Satisfactory price/mix development secures a solid top line + EBIT increased to DKK 507 million positively impacted by acquisitions + First EBIT margin expansion since Q1 2021 driven by better gross
Slide 7: Results for Q3 2023 - business segments
ROYAL UNIBREW Q3 2023 Trading statement presentation 7 Results for O35 2023 - business segments Northern Europe Western Europe International fe) fe) fe) 6 [e) 1 2 -2 > -4 ~ -4 -6 3 -8 4 6 -10 -5 8 -12 -10 “4 6 -16 7 -12 -18 Vv P/M NR Share of volume International 8% Western Europe 12% 80% Northern E
Slide 8: Q3 2023 development in net revenue and EBIT
ROYAL UNIBREW Q3 2023 Trading statement presentation 8 Q3 2023 development in net revenue and EBIT Revenue bridge (mDKK) EBIT bridge (mDKK) 3,400 3,350 3,300 3,250 3,200 3,150 3,100 3,050 3,000 Mincrease — Decrease m Total +2% Q3 2022 -1% M&A Organic 3,336 Q3 2023 increase | Decrease @ Total 540 520
Slide 9: Free cash flow 9M 2023 (mDKK)
ROYAL UNIBREW Q3 2023 Trading statement presentation 9 Free cash flow 9M 2023 (mDKk) mincrease — Decrease m Total 1233 755 -478 Net profit Non-cash adj. Changes in NWO Taxes and net financials FOF from operating activities Investing activities and leases FCF bf M&A/financing 9M 2022: 1307 250 -290 -
Slide 10: Financial leverage — net debt/EBITDA
ROYAL UNIBREW Q3 2023 Trading statement presentation Financial leverage — net debt/EBITDA * Net debt/EBITDA reached 3.1x end of O3 2023 due to acquisition of Vrumona * Including 12 months of pro forma EBITDA from Vrumona, net debt/EBITDA was 2.9x end of 03 2023 * Sale of 430,000 existing treasury sh
Slide 11: Outlook 2023
ROYAL UNIBREW Q3 2023 Trading statement presentation 11 Outlook 2023 * Full-year outlook for net revenue of approximately DKK 13.3 billion (unchanged) and an EBIT of DKK 1,600-1,700 million (previously: DKK 1,600-1,750 million) * Net finance expenses, excluding currency related losses or gains, are
Slide 12: Management agenda
ROYAL UNIBREW Management agenda * Keep monitoring consumer behavior and market developments * Striking the balance between growth opportunities and cost consciousness + Reduce balance sheet leverage to regain financial flexibility * Execute on integration of acquisitions * Managing the cost pressure
Slide 13: Q&A
O&A
Slide 14: Thank you for your attention
Thank you for your attention