Molson Coors Beverage Company · NYSE:TAP
Molson Coors Beverage — Molson Coors Brewing Company — Goldman Sachs Global Staples Forum 2015
12 slides from Molson Coors Beverage's conference presentation, May 12, 2015
Slide 1: Molson Coors Brewing Company at Goldman Sachs Staples Forum
M O L S O N C O O R S B R E W I N G C O M PA N Y G O L D M A N S A C H S S TA P L E S F O R U M M AY 2 0 1 5 1
Slide 2: Molson Coors Brewing Company Presenters
MOLSON COORS BREWING COMPANY Gavin Hattersley Global CFO Dave Dunnewald Global VP, Investor Relations 2
Slide 3: Forward Looking Statement
FORWARD LOOKING STATEMENT This presentation includes estimates or projections that constitute “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words “believe,” "expect,” "intend,” "anticipate,” “project,” “will,” and similar expressions identify for
Slide 4: Molson Coors Overview (2014 FY)
MOLSON COORS OVERVIEW (2014 FY) UNITED STATES (42%) CANADA EUROPE INTERNATIONAL MARKETS 31% 36% 24% 14% 30% Worldwide 21% Underlying 5% 2% Beer Net Sales(1) Pretax Volume Income(2) 46% 44% 48% (1) Excludes Corporate and Eliminations from the total. (2) Does not include underlying pretax losses for C
Slide 5: Commercial Drivers of Strategic Value
COMMERCIAL DRIVERS OF STRATEGIC VALUE INVESTING BEHIND DRIVING SHARE CORE BRANDS IN ABOVE PREMIUM DELIVERING VALUE DRIVE COST SAVINGS AND ADDED INNOVATION COMMERCIAL EXCELLENCE 5
Slide 6: Driving Total Shareholder Return With PACC Model
DRIVING TOTAL SHAREHOLDER RETURN WITH PACC MODEL • Investing behind core brands BRAND-LED • Driving share in above premium PROFIT • Delivering value-added innovation GROWTH • Commercial excellence Profit • Cost reductions • Capital expenditure driving After CASH GENERATION efficiencies Capital • Wor
Slide 7: Underlying Earnings Growth in Tough Times
UNDERLYING EARNINGS GROWTH IN TOUGH TIMES… MCBC Underlying Pretax Income (1) $904 $865 $865 $821 $794 $800 $719 $646 $642 $600 $541 $441 $400 $200 ($millions) $0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Underlying pretax income growth over the past 9 years totaled 105% (1) Non-GAAP underlyi
Slide 8: And Steady, Strong, Growing EBITDA
…AND STEADY, STRONG, GROWING EBITDA Underlying EBITDA(1) $1,600 $1,469 $1,471 $1,398 $1,400 $1,267 $1,212 $1,200 $1,106 $1,100 $1,091 $1,127 $1,000 $800 $600 $400 ($millions) $200 $0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2014: nearly $8 per share (1) Non-GAAP underlying EBITDA (Earnings befor
Slide 9: Growing Cash Returns via Dividends
GROWING CASH RETURNS VIA DIVIDENDS Dividends Paid (Annual Per Share) $1.64 $1.48 $1.50 $1.24 $1.28 $1.28 $1.08 $1.00 $0.92 $0.76 $0.64 $0.64 (dividend per share) $0.50 $0.00 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E Dividend payout ratio of 18%-22% of trailing underlying EBITDA 9
Slide 10: Cost Reductions Help to Drive Top Line and Bottom Line
COST REDUCTIONS HELP TO DRIVE TOP LINE AND BOTTOM LINE BRAND-LED PROFIT GROWTH CASH GENERATION CASH AND CAPITAL Cumulative Annualized Cost Savings (1) $1,400 $1,333 $1,195 $1,200 $1,078 $1,000 $958 $851 $800 $657 $600 $442 $400 $331 ($millions) $185 $200 $81 $0 2005 2006 2007 2008 2009 2010 2011 201
Slide 11: Key Value Driver: Disciplined Cash Use
KEY VALUE DRIVER: DISCIPLINED CASH USE BRAND-LED PROFIT GROWTH CASH GENERATION CASH AND CAPITAL Cash use priorities • Strengthen balance sheet by reducing liabilities • Return cash to shareholders • Brand-led growth opportunities Short-term focus • 11% increase in dividend 1st Quarter 2015 • Dividen
Slide 12: Strong Base, Driving TSR
STRONG BASE, DRIVING TSR BRAND-LED PROFIT GROWTH 2014 Results: • Achieved higher underlying pretax and EPS • Steady and strong underlying EBITDA CASH • Exceeded cost savings targets GENERATION • Improved cash conversion cycle • Generated $957 million in underlying free cash flow CASH AND CAPITAL • D
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