Anheuser-busch Inbev Sa/nv · EURONEXT:ABI
Anheuser-busch Inbev Sa/nv — Q2 2021 Earnings Presentation
21 slides from Anheuser-busch Inbev Sa/nv's earnings presentation, Jul 29, 2021
Slide 1: 2Q21 results
2Q21 results 29 JULY 2021
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: Michel Doukeris, CEO of AB InBev
Dream People 25 years with AB InBev (1996-Present) Culture Born in Lages, Brazil Lived in Brazil, China & US Michel Doukeris CEO of AB InBev Favorite beer Budweiser Passionate about Family, beer, travel and sports We Dream Big We are a Company of Owners We Believe in Simplicity © AB InBev 2021 – All
Slide 4: Agenda
Agenda Operating performance Commercial and sustainability highlights Financials Q&A © AB InBev 2021 – All rights reserved | 4
Slide 5: 2Q21 operating performance
2Q21 operating performance © AB InBev 2021 – All rights reserved | 5
Slide 6: 2Q21 operating performance
2Q21 RESULTS 2Q21 operating performance Total volumes +20.8 % Own beer +20.5 % and non-beer +23.2 % Total revenue +27.6 % Revenue per hl +5.8 % EBITDA +31.0 % EBITDA margin expanded by 88 bps to 35.8 % Continued Normalized EPS increased from $0.46 to $0.95 momentum with Underlying EPS increased from
Slide 7: 2Q21 key market takeaways
2Q21 RESULTS 2Q21 key market takeaways US Europe Consistent execution of our commercial strategy Strength of our premium brands and gradual on- driving top-line growth though bottom-line premise recovery driving top- and bottom-line impacted by elevated costs growth Mexico Double-digit top-line grow
Slide 8: 2Q21 commercial & sustainability highlights
2Q21 commercial & sustainability highlights © AB InBev 2021 – All rights reserved | 8
Slide 9: Unique and diverse portfolio of brands
2Q21 COMMERCIAL HIGHLIGHTS Unique and diverse portfolio of brands Reaching more consumers on more occasions • Delivered share gains in mainstream globally with healthy performances across our main markets • Premium portfolio grew 28%, • Beyond Beer grew revenue by 45%, and we continue to enhance our
Slide 10: Global brands leading the way in premiumization
2Q21 COMMERCIAL HIGHLIGHTS Global brands leading the way in premiumization In 2Q21, global brands grew revenue by +23.0% and by 19.3% outside of home markets vs. 2Q20 vs. 2Q20 vs. 2Q20 +16% +24% +23% 2Q21 revenue 2Q21 revenue 2Q21 revenue outside the US outside Belgium outside Mexico Growth led by C
Slide 11: Strong innovation capabilities to address consumer trends
2Q21 COMMERCIAL HIGHLIGHTS Strong innovation capabilities to address consumer trends Scaling innovation using our prove & move approach Based on Brahma Duplo Malte’s success, Developing the seltzer category in new scaling the concept to new markets, Expanding Mike’s Hard portfolio to more markets, w
Slide 12: AB InBev awarded Lions at the Cannes Festival
2Q21 COMMERCIAL HIGHLIGHTS AB InBev awarded 40 Lions at the 2021 Cannes Festival Michelob Ultra 16 Tienda Cerca 2 Budweiser 7 Aguila 1 Michelob Ultra was our Corona Extra 4 Bud Light 1 best-performing brand, winning a total of Guarana Antarctica 3 AB InBev 1 Beck’s 2 Quilmes 1 16 Lions Castle Lite 2
Slide 13: Empowering customers and consumers with digital platforms
2Q21 COMMERCIAL HIGHLIGHTS Empowering customers and consumers with digital platforms Creating new value from our ecosystem using data and technology Owned direct-to-consumer (DTC) e-commerce doubled in BEES is now live in 12 markets with 1.8M monthly active revenue in HY21. Zé Delivery fulfilled mor
Slide 14: Scaling sustainable impact through partnership and innovation
SUSTAINABILITY Scaling sustainable impact through partnership and innovation BanQu, part of the 100+ Accelerator: first 100+ Accelerator mobilizing start-ups to cohort, is a solve some of the blockchain-enabled world’s most pressing platform that sustainability issues supports farmers & recyclers Gi
Slide 15: Financials
Financials © AB InBev 2021 – All rights reserved | 15
Slide 16: Underlying EPS increased from $0.40 in 2Q20 to $0.75 in 2Q21
FINANCIALS Underlying EPS increased from $0.40 in 2Q20 to $0.75 in 2Q21 0.00 0.26 0.02 0.09 0.68 0.75 0.40 2Q20 Normalized EBIT Net finance cost Income tax expense Associates Non-controlling 2Q21 interest © AB InBev 2021 – All rights reserved | 16
Slide 17: Bond maturity profile
FINANCIALS Bond maturity profile Well-distributed due to our proactive liability management 14,000 12,000 Since 31 December 2020, we 10,000 redeemed $6.4B of bonds, mostly targeting shorter-term maturities 8,000 6,000 4,000 2,000 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 203
Slide 18: Bond portfolio largely protected against interest rate volatility
FINANCIALS Our bond portfolio is largely protected against interest rate volatility, with long-weighted average maturity and no financial covenants Addressed upcoming 95% of our bond Diverse currency mix Very manageable maturities to eliminate near-term portfolio is fixed rate reduces risk pre-tax c
Slide 19: Capital allocation priorities
FINANCIALS Capital allocation priorities Organic growth 1 Investing in the organic growth of our business 2 Deleveraging Deleveraging to around the 2x level remains our commitment Selective M&A 3 Non-organic, external growth is a core competency and we will continue to consider suitable opportunitie
Slide 20: Q&A
Q&A © AB InBev 2021 – All rights reserved | 20
Slide 21: Thank you
Thank you