Anheuser-busch Inbev Sa/nv · EURONEXT:ABI
Anheuser-busch Inbev Sa/nv — FY2009 Earnings Presentation
21 slides from Anheuser-busch Inbev Sa/nv's earnings presentation, Mar 4, 2010
Slide 1: Full Year 2009 Results
Full Year 2009 Results 4 March 2010
Slide 2: FY09 highlights
FY09 highlights • Total volumes decreased -0.7% (own beer -0.8%, non-beer 2.7%) • Focus brands grew 1.9% • Market share gained or maintained in markets representing approximately 70% of our total beer volumes FY08 Organic (million USD) combined FY09 growth 416.1 408.6 -0.7% Total volumes (million hl
Slide 3: Focus Brand highlights
Focus Brand highlights • Focus Brands grew 1.9% in FY09, ahead of own beer volumes and well above generally flat global industry results AB InBev has 3 of the top 4 most valuable global beer brands in Millward Brown Optimor’s 2009 BrandZ Report: Bud Light, Budweiser and Stella Artois Only 18 months
Slide 4: Focus Brand highlights (continued)
Focus Brand highlights (continued) In 2009, Stella Artois UK received 6 major industry and press awards, including "Best Premium Lager" and "Best On-Trade Launch" from The Publican, "Cool Brand" status from independent global brand arbiter Superbrands and Cannes Lions "Grand Prix" recognition for th
Slide 5: FY09 revenue and normalized EBITDA breakdown
FY09 revenue and normalized EBITDA breakdown GEHC GEHC 8.0% APAC APAC 6.7% NA NA 5.4% CEE 2.7% 45.0% 42.1% 4.6% CEE 6.8% WE 7.5% FY09 FY09 LAS WE revenue 6.7% EBITDA 11.7% LAS 5.2% LAN LAN 20.8% 26.8% 4
Slide 6: North America FY09 performance
North America FY09 performance • Volumes decreased -2.0% • Shipment volumes in the United States declined 2.1%. Domestic US beer selling- day adjusted sales-to-retailers (STRs) decreased 1.9%, in line with a softer industry • In Canada, beer volumes fell 1.1% due to a weak industry environment and m
Slide 7: Latin America North FY09 performance
Latin America North FY09 performance • Strong volume growth of 8.8%, with beer up 9.2% and soft drinks up 7.8% • In Brazil, beer volume grew 9.9% as a result of improved economic conditions and higher market share gains • We recorded market share gains of 120 bps, reaching 68.7%, from a strong marke
Slide 8: Latin America South FY09 performance
Latin America South FY09 performance • -3.8% volume decline amidst an industry slowdown across most markets • In Argentina, beer volumes decreased -0.3% resulting from a weak industry performance compounded by adverse weather conditions • Our premium brands continued to perform well, and Stella Arto
Slide 9: Western Europe FY09 performance
Western Europe FY09 performance • Own beer volumes declined -2.4% and total volumes fell -4.9% • In Germany, own beer volumes decreased -4.9%, driven largely by a deteriorating industry, and aggressive competitor pricing leading to market share loss • In the United Kingdom, own beer volumes fell -2.
Slide 10: Belgium FY09 performance
Belgium FY09 performance • Own beer volumes in Belgium declined -1.1% in FY09 • 4Q volumes growth of 0.9% in a highly competitive environment • Market share improved by 0.1%, driven by continued commercial and marketing investments behind our brands • Jupiler grew 1.2% in FY09 and 2.3% in 4Q • Resul
Slide 11: Central and Eastern Europe FY09 performance
Central and Eastern Europe FY09 performance • Volumes decreased -10.8% reflecting industry declines • In Russia, volumes fell -13.1% with inventory build ahead of the January 2010 excise tax increase driving a strong year-end performance • In Ukraine, beer volumes fell -4.8% • EBITDA grew 46.3% driv
Slide 12: Asia Pacific FY09 performance
Asia Pacific FY09 performance • Volumes declined -2.0% • Volumes in China were down -2.4% while South Korea contributed 3.4% growth prior to the business divestiture in July 2009 • Focus Brands Budweiser and Harbin delivered growth of 12.1% and 9.3%, respectively • EBITDA increased 19.7% driven by g
Slide 13: FY09 below EBIT performance
FY09 below EBIT performance FY 08 (million USD) reported FY 09 Normalized EBIT 5 898 10 248 Non-recurring items above EBIT -558 1 321 Net finance costs -1 413 -3 790 Non-recurring net finance costs -187 -629 Share of results of associates 60 513 Income tax expense -674 -1 786 Profit 3 126 5 877 Attr
Slide 14: Outlook
Outlook • We expect to show solid operating performance in 2010, but we expect quarter-over-quarter results to skew strongly toward the second half of the year • The first half of the year will face more difficult volume comparisons in most regions than the second half. 1Q10 volumes look the most ch
Slide 15: Outlook (continued)
Outlook (continued) • As a result of the 17.2 billion USD refinancing announced on 26 February 2010, non-recurring finance costs in 1Q10 and 2Q10 will include incremental non- cash accretion expenses of 29 million USD and 157 million USD, respectively, in addition to a one-time negative mark-to-mark
Slide 16: Our Better World areas of focus
Our Better World areas of focus Responsible Environment Community drinking 15
Slide 17: Responsible drinking examples
Responsible drinking examples • Germany Beck’s “Check Who is Driving?” designated driver program • Argentina “Vivamos Responsablemente” educational program • United States ”Family Talk About Drinking” encourages open, honest communication between parents and children 16
Slide 18: Performance highlights Environmental
Performance highlights Environmental In 2009, we were successful in: • Recycling 98% of our waste and byproducts • Reducing total water usage by 8.6% per hectoliter of production • Cutting total energy consumption by 7.0% per hectoliter of production 17
Slide 19: Environment examples
Environment examples Renewable energy • About 34 percent of the heat requirements in our Brazilian breweries are fulfilled by using biomass fuel Water • Our Cartersville brewery in the United States has significantly reduced water consumption, now using only 2.94 hectoliters of water per hectoliter
Slide 20: Performance highlights Community
Performance highlights Community • Total wages and salaries paid to AB InBev's approximately 116,000 employees was 3.8 billion USD in 2009 • Excise and income taxes paid to governments around the world totaled close to 10 billion USD in 2009 • Partnerships with communities to make a positive impact
Slide 21: Community examples
Community examples • Brazil-United States • To help victims of the Haiti earthquake, AmBev shipped nearly 350,000 plastic bottles of fresh drinking water and the US Cartersville brewery shipped another 600,000 cans of water • Russia • Employees and their families annually join townspeople and local