Anheuser-busch Inbev Sa/nv · EURONEXT:ABI

Anheuser-busch Inbev Sa/nv — AB InBev — Q1 2024 Earnings Presentation

32 slides from Anheuser-busch Inbev Sa/nv's earnings presentation, May 8, 2024

Slide 1: 1Q24 Results
1Q24 Results May 8, 2024
Slide 2: Legal disclaimer
Legal disclaimer Certain statements contained in this report that are not statements of historical fact constitute forward-looking statements, notwithstanding that such statements are not specifically identified. In addition, certain statements may be contained in the future filings of the Company w
Slide 3: Agenda
Agenda 01 1Q24 operating performance highlights 02 Update on our strategic pillars • Lead and grow the category • Digitize and monetize our ecosystem • Optimize our business 03 Q&A © AB InBev 2024 – All rights reserved |3
Slide 5: Continued momentum with broad-based top- and bottom-line growth
• Volume growth and market share gain in majority of our markets • Megabrands +6.7% net revenue growth Continued momentum • EBITDA +5.4% with margin expansion of 90bps with broad-based top- • Underlying EPS +16% and bottom-line growth • BEES Marketplace GMV +47% • Investments in mega platforms provi
Slide 6: 1Q24 operating performance
1Q24 operating performance Total volumes - 0.6% Own beer -1.3% and non-beer +3.5% Total revenue +2.6% Revenue per hl +3.3% EBITDA +5.4% EBITDA margin of 34.3% Underlying EPS of $0.75, +15.7% © AB InBev 2024 – All rights reserved |6
Slide 7: Diversified footprint provides unique scale to lead & grow the category
Diversified footprint provides unique scale to lead & grow the category, delivering revenue growth in ~75% of our markets EMEA 13% EBITDA contribution 1 North America +16.3% Organic revenue 21% EBITDA contribution 1 1Q24 +35.1% -8.8% Organic EBITDA Organic revenue 1Q24 -16.6% Organic EBITDA APAC 10%
Slide 8: North America
North America United States Revenue declined by high-single digits impacted 1Q24 by volume performance • STW volumes declined by 10.1% Total Volume - 9.9% • Market share trend continued to improve sequentially Net Revenue / hl + 1.2% Net Revenue - 8.8% Canada • Revenue declined by mid-single digits
Slide 9: Market share trend continued to improve sequentially
Market share trend continued to improve sequentially ABI Share (%) 36 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 MTD WE 28-Apr- 28-Apr- 2024 2024 YoY Share Change (%) (5.63) (5.43) (5.37) (5.10) (5.05) (4.75) (4.94) (4.74) (4.66) (4.59) (4.56) (0.72) (0.04) Source:
Slide 10: Middle Americas
Middle Americas Mexico Mid-single digit top- and bottom-line growth 1Q24 with margin expansion • Core brands delivered mid-single digit volume Total Volume + 4.2% growth Net Revenue / hl + 3.7% Net Revenue + 8.0% Colombia Record high volumes delivered double-digit top- line and high-single digit bot
Slide 11: South America
South America Brazil Record high volumes delivered mid-single digit 1Q24 1 top-line and double-digit bottom-line growth with margin expansion of 311bps • Premium and super premium brands grew volumes Total Volume + 0.2% in the low-teens Net Revenue / hl + 5.0% Net Revenue + 5.1% Argentina • Total vo
Slide 12: EMEA
EMEA Europe High-single digit top- and strong double-digit 1Q24 bottom-line growth with margin recovery • Premium and super premium portfolio makes up Total Volume + 5.4% approximately 56% of revenue • Megabrands delivered double-digit revenue growth Net Revenue / hl + 10.4% Net Revenue + 16.3% Sout
Slide 13: Asia Pacific
Asia Pacific China Continued premiumization with margin 1Q24 expansion despite soft industry • Premium portfolio continued to grow volumes Total Volume - 4.8% Net Revenue / hl + 4.6% Net Revenue - 0.5% South Korea • Revenue increased by mid-single digits EBITDA + 3.3% EBITDA Margin 37.7% © AB InBev
Slide 16: Megabrands driving efficient growth Led by Corona
Megabrands driving efficient growth Led by Corona +6.7% 1Q24 NR growth +15.5% 1Q24 NR growth 1 ~5 BRANDS per market Making up the majority of volumes & growth Receiving disproportionate S&M investment Note: 1. Outside of Mexico, where Corona commands a premium price. Excludes exports to Australia fo
Slide 17: Consistent execution across the category expansion levers
Consistent execution across the 5 category expansion levers Category Core Occasions Participation Superiority Development Premiumization Beyond Beer Participation increased Mainstream portfolio High-teens revenue Above core portfolio Beyond Beer contributed in approximately 40% of delivered low-sing
Slide 19: BEES continues to expand and empower our customers
BEES continues to expand and empower our customers 1Q23 1Q24 YoY Monthly Active Users 3.1m 3.6m +16% (“MAU”) Gross Merchandise Value ~$8.2bn ~$11.3bn +23% (“GMV”) 1Q23 1Q24 Net Promoter Score 59 61 +2 (“NPS”) 1 1Q23 1Q24 Marketplace GMV $295m $465m +47% 1Q23 1Q24 Marketplace orders2 5.4m 7.3m +35% 1
Slide 20: Scaling our digital direct-to-consumer megabrands
Scaling our digital direct- to-consumer megabrands 1Q23 1Q24 YoY Revenue $118m $130m +11% Online orders ~16m ~18m +10% Active Consumers (R12M) 9.6m 10.5m +9% © AB InBev 2024 – All rights reserved |20
Slide 23: Advancing our sustainability priorities to support our commercial vision
Advancing our sustainability priorities to support our commercial vision Climate Action Water Stewardship 6% Improvement in Scopes 1 and 2 emissions per hectoliter of production vs 1Q23 2.55 Hectoliter per hectoliter (hl/hl) water use efficiency CDP Top 2023 Supplier ratio vs 2.56 hl/hl in 1Q23 Enga
Slide 24: Margin expansion of 90bps EBITDA margin expansion in four of five regions
Margin expansion of 90bps EBITDA margin expansion in four of our five regions APAC Margin evolution +138 bps EBITDA margin margin expansion 1 40.3% +90bps1 33.5% 34.3% South America +281 bps margin expansion 1 Middle Americas +111 bps EMEA 2019 1Q23 1Q24 margin expansion 1 +409 bps margin expansion
Slide 25: Actively managed debt portfolio with manageable coupon and no relevant refinancing needs
Actively managed debt portfolio with manageable coupon and no relevant medium-term refinancing needs Well-distributed bond 1 maturity profile with manageable average coupon Diverse currency mix 2 CNY Matured Bond (Apr-2024) 2024 Tender Offers (Apr-2024) New Issuance (Mar-2024) Remaining Bonds Other
Slide 26: Underlying EPS grew by 16% to $0.75
Underlying EPS grew by 16% to $0.75, driven by operating profit growth and lower net interest expense Note 1. Translational FX & scopes impact on Normalized EBITDA organic © AB InBev 2023 – All rights reserved |26
Slide 27: Dynamically balancing capital allocation priorities to maximize value creation
Dynamically balancing capital allocation priorities to maximize value creation DELEVERAGING INVEST IN ORGANIC GROWTH SELECTIVE M&A RETURN OF CAPITAL © AB InBev 2024 – All rights reserved |27
Slide 29: Consistent execution of our strategy
Consistent execution of our strategy Another quarter of Global leader in large and profitable growth growing category • 5.4% organic EBITDA growth • Volume growth and market share gain • Margin expansion in four of five operating in the majority of our markets regions • Revenue growth in ~75% of our
Slide 30: Our brands are uniquely positioned to activate the category in 2024
Our brands are uniquely positioned to activate the category in 2024 1H 2024 2H 2024 Full Year UFC Calendar: © AB InBev 2024 – All rights reserved |30

AB InBev — Q1 2024 Earnings Presentation on 6ix

Anheuser-busch Inbev Sa/nv — AB InBev — Q1 2024 Earnings Presentation

Slide 1: 1Q24 Results

Slide 2: Legal disclaimer

Slide 3: Agenda

Slide 4: Operating performance highlights

Slide 5: Continued momentum with broad-based top- and bottom-line growth

Slide 6: 1Q24 operating performance

Slide 7: Diversified footprint provides unique scale to lead & grow the category

Slide 8: North America

Slide 9: Market share trend continued to improve sequentially

Slide 10: Middle Americas

Slide 11: South America

Slide 12: EMEA

Slide 13: Asia Pacific

Slide 14: Update on our strategic pillars

Slide 15: Lead and grow the category

Slide 16: Megabrands driving efficient growth Led by Corona

Slide 17: Consistent execution across the category expansion levers

Slide 18: Digitize and monetize our ecosystem

Slide 19: BEES continues to expand and empower our customers

Slide 20: Scaling our digital direct-to-consumer megabrands

Slide 21: Optimize our business

Slide 22: Maximizing value

Slide 23: Advancing our sustainability priorities to support our commercial vision

Slide 24: Margin expansion of 90bps EBITDA margin expansion in four of five regions

Slide 25: Actively managed debt portfolio with manageable coupon and no relevant refinancing needs

Slide 26: Underlying EPS grew by 16% to $0.75

Slide 27: Dynamically balancing capital allocation priorities to maximize value creation

Slide 28: Meeting the moment in 2024

Slide 29: Consistent execution of our strategy

Slide 30: Our brands are uniquely positioned to activate the category in 2024

Slide 31: Shareholder value creation

Slide 32: Q&A