Anadolu Efes Biracilik Ve Malt Sanayii A.s. · BIST:AEFES
Anadolu Efes Biracilik Ve Malt Sanayii A.s — Anadolu Efes — Investor Presentation (2025)
43 slides from Anadolu Efes Biracilik Ve Malt Sanayii A.s's investor presentation, Mar 26, 2025
Slide 1: Anadolu Efes FY2024 Investor Presentation
ANADOLU EFES FY2024 INVESTOR PRESENTATION
Slide 2: Important Disclaimer Regarding TAS29
IMPORTANT DISCLAIMER REGARDING TAS29 As stipulated by the decree of the Capital Markets Board, the financial statements for the FY2024 have been presented in accordance with TAS29 (Turkish Accounting Standard 29: Financial Reporting in Hyperinflationary Economies), and retrospective adjustments have
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation may contain certain forward-looking statements concerning our future performance and should be considered as good faith estimates made by the Company. These forward-looking statements reflect management expectations and are based upon currently available
Slide 4: Who We Are
_ te WHO WE ARE ANADOLU EFES
Slide 5: Anadolu Efes at a glance
Founded 1950 90+ TL 564 bn Production facilities 20 Turnover in FY2024 Countries 8 Sectors Türkiye, Germany, Azerbaijan, Bangladesh, Belarus, Georgia, TL 58 bn Netherlands, Iraq, Kazakhstan, Beer, Soft Drink, Retail, EBITDA in FY2024 Kyrgyzstan, Turkish Republic Agriculture, Automotive, of Northern
Slide 6: Anadolu Efes: A Leading Brewer & Bottler Worldwide
ANADOLU EFES: A LEADING BREWER & BOTTLER WORLDWIDE Serving +890 mn Population 21 Breweries in 6 Countries 33 Soft Drink Facilities in 12 Countries Europe’s 5*th Bangladesh World’s 10*th Largest Brewer 43% Anadolu Group One of the largest 24% AB InBev Coca-Cola Bottler 33% Publicly Traded • The Barth
Slide 7: Anadolu Efes Beer Group: Brewing Quality Across 6 Countries
ANADOLU EFES BEER GROUP: BREWING QUALITY ACROSS 6 COUNTRIES Operations in 6 countries 21 breweries 100+ brands 5 malteries Exports to ~70 countries 1 hop processing facility 8.000+ employees 3.9bnLT sales volume Operations in Türkiye, Russia, Moldova, 400+ distributors $2.8bn net sales revenue Kazak
Slide 8: The 10th Largest Brewer in the World
THE 10th LARGEST BREWER IN THE WORLD Our journey, which started in Turkiye in 1969 with the dreams of two entrepreneurs, continues today as the 10th largest brewer in the world and the 5th largest in Europe. With our pioneering and innovative approach to brewing, which we bring to the world, we gene
Slide 9: Key Pillars of Our Success
KEY PILLARS OF OUR SUCCESS Strong Local Brands With Strategic Global Partnerships High Consumer Loyalty (AB InBev, Molson Coors, WG&S) Diverse Beer Portfolio Across All Segments Disciplined Financial Management Strong Market Positions Across All Operations Robust Sustainability Programs Strong Distr
Slide 10: Our Purpose
OUR PURPOSE VISION MISSION To be the fastest growing beverage We brew JOY company with most loved brands passionately and that craft joy for consumers while responsibly enriching communities VALUES PASSIONATE AGILE COLLABORATIVE ACCOUNTABLE FAIR 10
Slide 11: What We Do
WHAT WE DO ANADOLU EFES
Slide 12: Our Priorities
OUR PRIORITIES e People + Recruit the best talent via strong employer branding + Re/Upskill capabilities in digitalization & leadership areas + Retain the best talent via structural career growth & Inclusive company culture e Consumers + Grow with a consumer-centric brand portfolio fueled by superio
Slide 13: Key Growth Strategies for Building the Future
KEY GROWTH STRATEGIES FOR BUILDING THE FUTURE GROW THE CORE NEW EXPAND BUSINESSES 13
Slide 14: Where We Are Heading Next
WHERE WE ARE HEADING NEXT GROW THE CORE EXPAND NEW BUSINESSES Improve premium Expand Spread adjacent leadership geographically category expansions Revamp core brands to all operations Enhance PRGM B2B/C Transform Supply Marketplace Chain Invest in relevant start- Accelerate Growth ups Through Digita
Slide 15: Strengthening Our Future with Financial Focus
STRENGTHENING OUR FUTURE WITH FINANCIAL FOCUS CASH DEBT RISK EXPENSE MANAGEMENT MANAGEMENT MANAGEMENT MANAGEMENT Maintain long term Manage FX and Ensure liquidity for sustainable leverage Zero Based operations and commodity exposure target of 1.0X - 2.0X Budgeting accelerate dividend streams Use Wor
Slide 16: Driving Growth & Value Through Strategic Capital Allocation
DRIVING GROWTH & VALUE THROUGH STRATEGIC CAPITAL ALLOCATION Brands, Innovation, Product Diversification, Market Invest in Development, Digitalization and Production Capacity Maintain Healthy balance sheet by keeping Net Debt / EBITDA btw 1.0x – 2.0x Maximize Shareholder value through dividends with
Slide 17: Sustainability Goals
SUSTAINABILITY GOALS Targeting Zero Increasing Our Support Getting Stronger through for the Environment for Social Impact Diversity & Inclusion Become net zero in all our operations Our focus areas: Increase the representations of women in our organization from 30% to 51% Culture - arts by 2030 Beco
Slide 18: FY2024 Operational Overview
FY2024 OPERATIONAL OVERVIEW
Slide 19: Russia
RUSSIA Population: 68% of total beer volume 145 Million* Production Facilities: Market Size & Per Capita: 11 Breweries 89 mhl market size** 3 Malteries 62 liters per capita consumption** 1 Preform Production Facility Production Capacity: Market Share: 31.7 mhl Brewing 31% market share*** 288 000 Ton
Slide 20: Russia
RUSSIA • Achieved low-teens growth in both 4Q2024 & FY2024 ➢ Despite capacity constraints and strong competition ➢ Strong demand along with favorable market dynamics • Maintained market leadership both in volume and value share* • Continued premiumization focus: ➢ Growth seen across all segments exc
Slide 21: Kazakhstan
KAZAKHSTAN Population: 5% of total beer volume 20 Million* Production Facilities: Market Size & Per Capita: 2 Breweries 6.0 mhl market size** 30 liters per capita consumption** Production Capacity: Market Share: 2.5 mhl Brewing 48% market share*** Market Leader*** Main Brands: Efes Pilsener, Kruzhka
Slide 22: Kazakhstan
KAZAKHSTAN • Volume declined in each quarter yet at a slower pace through the end of year ➢ Impacted by severe floods and the rise cost of living • Despite challenges, our performance outpaced the market; ➢ Achieved growth across all channels ➢ Strengthened leadership position* • Expanded our produc
Slide 23: Georgia
GEORGIA Population: 3% of total beer volume 3.8 Million* Production Facilities: Market Size & Per Capita: 1 Breweries 1.2 mhl market size** 32 liters per capita consumption** Production Capacity: Market Share: 1.6 mhl Brewing and Soft Drink 46% market share*** Production Market Leader*** Main Brands
Slide 24: Georgia
GEORGIA • Georgia’s beer market grew low-single digit in FY2024 ➢ Driven by economic expansion, tourism, and major sporting events • Our performance outpaced the market ➢ Strengthened leadership by gaining market share* • Launched selective new products ➢ Beck’s, Taati Craft Line & Alpenbrau • Local
Slide 25: Moldova
MOLDOVA Population: 2% of total beer volume 3.1 Million* Production Facilities: Market Size & Per Capita: 1 Breweries 1.0 mhl market size** 26 liters per capita consumption** Production Capacity: Market Share: 1.6 mhl Brewing and Soft Drink 63% market share*** Production Market Leader*** Main Brands
Slide 26: Moldova
MOLDOVA • Moldova beer market grew by low-teens in FY2024 • Flat sales volume in 4Q2024, but outpaced the market with double-digit growth in FY2024 ➢ Strategic pricing ➢ Portfolio diversification ➢ Strong brand portfolio ✓ Succesfull launches: Hopfenbrau Goldbier, Efes Blanche KEG, Radler Mango ✓ Lo
Slide 27: Türkiye
TÜRKIYE Population: 16% of total beer volume 87.4 Million* Production Facilities: Market Size & Per Capita: 3 Breweries 12.2 mhl market size** 2 Malteries 15 liters per capita consumption** 1 Hops Processing Facility Production Capacity: Market Share: 7.3 mhl Brewing 51% market share*** 115 000 Tons
Slide 28: Türkiye
TÜRKIYE • Turkiye recorded 0.8% growth in 4Q2024 & 2.3% growth in FY • Total volume reached 6.3 mhl, maintaining strong momentum despite, ➢ A high base from last year ➢ Inflationary pressures ➢ Portfolio diversification • Efes Haus was launched with Neipa, Rye Ipa and Weizenbock extensions • Continu
Slide 29: Ukraine
UKRAINE Population: 5% of total beer volume 37 Million* Production Facilities: Production Capacity: 3 Breweries 7.4 mhl Brewing Production Production halted in 2 breweries Main Brands: Corona, Stella Artois, Kozel, Povna Dizhka, Bile, Chernigivske, Yantar *United Nations 29
Slide 30: Ukraine
UKRAINE • Signs of recovery emerged in the market in 2024, yet demand remained under pressure • Fastest growing player in the market ➢ Outperforming the market, achieving low teens growth ➢ Stabilization of the sales team structure ➢ Strengthening commercial capabilities • Production remained operat
Slide 31: Soft Drinks
SOFT DRINKS Population: 69% of total Over 600 Million* consolidated volume Production Facilities: Sales Points: 33 Bottling Plants ~1.2 million 3 Fruit Processing Plant Production Capacity: Market Share: 2.1 bn Unit Case Strong #1 or #2 positions Main Brands: Coca-Cola, Fanta, Sprite, Schweppes, Fus
Slide 32: Soft Drinks
SOFT DRINKS • Consolidated volume up 7.3% in 4Q2024 but declined by 2.2% in FY2024 • Türkiye volume remained flat in FY2024 ➢ Impacted by persistent inflationary environment & continued geopolitical issues ➢ Lack of minimum wage adjustments • International volume down by 3.6% in FY2024 ➢ Iraq & Azer
Slide 33: Anadolu Efes Financial Performance
ANADOLU EFES FINANCIAL PERFORMANCE Anadolu Efes Beer Group 4Q FY 4Q FY REVENUE TL40,562 mn TL231,354 mn TL17,938 mn TL92,180 mn • NET Strong volume growth in 4Q (0.0%) (+0.2%) (+12.3%) (+10.1%) • Effective price strategies BNRI % 15.4% EBITDA 9.7% 17.0% 12.3% • Solid topline & gross profitability (+
Slide 34: 2024 Financial Performance
2024 FINANCIAL PERFORMANCE ANADOLU EFES
Slide 35: Financials
FINANCIALS Anadolu Efes Beer Group mTL FY2024 Change 4Q2024 Change mTL FY2024 Change 4Q2024 Change Sales Revenue 231,354 0.2% 40,562 0.0% Sales Revenue 92,180 10.1% 17,938 12.3% Gross Profit 91,008 6.8% 15,480 15.4% Gross Profit 42,340 12.7% 8,431 35.1% EBITDA (BNRI) 39,364 -4.6% 3,934 5.6% EBITDA (
Slide 36: Beer Group EBITDA (BNRI) & FCF Generation
BEER GROUP EBITDA (BNRI) & FCF GENERATION EBITDA (BNRI) Bridge mTL Free Cash Flow Bridge mTL -8% -15% +37% +8% 36
Slide 37: Cash & Debt Management
CASH & DEBT MANAGEMENT Anadolu Efes Gross Debt Cash USD 2.2 bn USD 1.5 bn Average maturity 57% 49% held in Hard Currency 2.9 yrs Net Debt/EBITDA held in Hard Currency 17% 0.6x held in Eurozone Cash Beer Group Gross Debt USD 0.9 bn Average maturity USD 0.8 bn 2.5 yrs 48% 61% held in Hard Currency Net
Slide 38: Risk Management
RISK MANAGEMENT Beer Group Beer Group Hedges for 2025: COGS Split for 2024: Commodity : 6% Aluminum: 59% for TR & CIS @$2.463 17% 13% *For 1Q’2026: 5% for TR & CIS @$2,528 7% 18% 19% 21% FX Exposure : Barley-Malt & Auxiliary Overhead (Labour Cost) Glass Bottle Amortization & Other Overhead Can Impor
Slide 39: Sustainable Shareholder Return
SUSTAINABLE SHAREHOLDER RETURN • Consistent Dividend Distribution with Sustainable Free Cash Flow Generation 8.3% 7.7% 6.3% 3.1% 2.0% 2.4% 1.8% 1.7% 1.3% 1.4% 0.7% 2.4 2.1 1.9 1.9 1.8 1.3 mTL 0.5 0.4 0.5 0.3 0.3 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Gross Dividend Per Share (TL per
Slide 40: Sustainability
SUSTAINABILITY ANADOLU EFES
Slide 41: Not Just a Brewer, But Also an Agricultural Company
NOT JUST A BREWER, BUT ALSO AN AGRICULTURAL COMPANY We believe that ‘the future is agriculture, and agriculture is the future!’ Through R&D, innovation, and capacity building, we are committed to sustainable farming practices. Half of our raw materials come from the soil, and since day one, we have
Slide 42: Areas We Impact
AREAS WE IMPACT Sustainable Tourism With sustainable tourism models, we aim to protect natural and cultural heritage, increase the experiences of local people and visitors, contribute to the local economy and empower the women of the region economically through the initiatives we support. Sustainabl
Slide 43: Areas We Impact
AREAS WE IMPACT Environmental Awareness Beyond our goal of net zero in our operations, we work to minimize our environmental impact, from circular economy practices to water efficiency studies. While working with this awareness, we believe in the importance of developing projects to raise the enviro