Molson Coors Beverage Company · NYSE:TAP
Molson Coors Beverage — Q2 2021 Earnings Presentation
20 slides from Molson Coors Beverage's earnings presentation, Jul 29, 2021
Slide 1: Q2 FY 2021 Results & Outlook
Q2 FY 2021 Results & Outlook July 29, 2021
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words “believe,” "aims," “expect,” “intend,” “anticipate,” “project,” “will,” “outlook,” and similar expressions identify forward-looking statemen
Slide 3: Chief Executive Officer Gavin Hattersley
Chief Executive Officer Gavin Hattersley 3
Slide 4: On the Path to Deliver Sustainable Top and Bottom-Line Growth
On the Path to Deliver Sustainable Top and Bottom-Line Growth REVITALIZATION PLAN STRATEGIC ORGANIZATIONAL Build on the Aggressively grow Expand in Invest in our Support our strength of our Above Premium Beyond Beer capabilities people and iconic brands communities 4
Slide 5: Premium Portfolio Driving Significant Mix Benefits
Premium Portfolio Driving Significant Mix Benefits Vizzy Topo Chico Blue Moon LightSky Leinenkugel’s In the U.S., we Success of lemonade Hard Seltzer #1 new beer in 2020 Summer Shandy doubled our share variety pack in U.S. now up helped drive nearly 1 Exceeding our expectations in the 16 U.S. market
Slide 6: Iconic Core Brands Benefiting From Return to On-Premise
Iconic Core Brands Benefiting From Return to On-Premise In the U.S. In Canada On a combined basis, Coors Light and Coors Light has grown share with our largest retail Miller Lite delivered brand volume growth customer for four straight quarters in Q2 vs the prior-year period 6
Slide 7: Beyond Beer Investments Are Translating Into An Acceleration in Sales Growth
Beyond Beer Investments Are Translating Into An Acceleration in Sales Growth ZOA Truss La Colombe Cracked the Top 20 energy Canada joint venture has grown to a >50% share No. 1 Above Premium drink brands in the U.S. in a of the Canadian cannabis beverage industry; product in RTD coffee few short mon
Slide 8: Investing in Our Capabilities
• In Canada, plans to quadruple in- house hard seltzer production capacity • In Europe, adding a new hard seltzer Investing in Our canning line, upgrading beer and cider packaging facilities Capabilities • In the U.S, benefiting from our effort last year to quintuple our hard seltzer production capa
Slide 9: Supporting Our People and Our Communities
Supporting Our People and Our Communities • Engaging in Project Justice with our North American employees • Supporting 33 organizations across North America that are creating a more just and inclusive world • Expanding scholarship program for U.S. college students of color who are pursuing brewing i
Slide 10: Our Future is Bright and Our Revitalization Plan is Succeeding
• Deleveraging Our Business • Reinstating A Dividend Our Future is Bright • Supporting Our People and Our Revitalization • Investing in Our Brands Plan is Succeeding • Reshaping Our Portfolio • Expanding Into New Spaces 10
Slide 11: Chief Financial Officer Tracey Joubert
Chief Financial Officer Tracey Joubert 11
Slide 12: Consolidated Second Quarter FY 2021 Results
Consolidated Second Quarter FY 2021 Results +13.7%* +5.0%* -1.3%* NSR NSR/HL – UNDERLYING EBITDA (constant currency) Brand Volume Basis (constant currency) (constant currency) *YOY Q2 2021 vs. Q2 2020 KEY TAKEAWAYS NSR increased due to financial volume growth Underlying COGS/HL increased MG&A increa
Slide 13: North America Second Quarter FY 2021 Results
North America Second Quarter FY 2021 Results +8.3%* +4.7%* -10.7%* NSR NSR/HL – UNDERLYING EBITDA (constant currency) Brand Volume Basis (constant currency) (constant currency) *YOY Q2 2021 vs. Q2 2020 KEY TAKEAWAYS NSR increased due to strong net NSR/HL growth driven by net pricing MG&A increased d
Slide 14: Europe Second Quarter FY 2021 Results
Europe Second Quarter FY 2021 Results +52.3%* +16.6%* +189.0%* NSR NSR/HL – UNDERLYING EBITDA (constant currency) Brand Volume Basis (constant currency) (constant currency) *YOY Q2 2021 vs. Q2 2020 KEY TAKEAWAYS NSR/HL increased due to Underlying EBITDA increased NSR increased as a result of volume
Slide 15: Strengthening Our Balance Sheet
• Net debt to underlying EBITDA was 3.35x as of Q2 2021 quarter end vs. 3.5x at year end 2020 Strengthening • No borrowings on our $1.5 billion Our Balance revolving credit facility as of Q2 2021 quarter end Sheet • On July 15th, repaid in full $1 billion 2.1% senior notes that were maturing using a
Slide 16: Reaffirming 2021 Guidance
Reaffirming 2021 Guidance Full Year Outlook • Mid single-digit net sales revenue growth, on a constant currency basis • Flat underlying EBITDA compared to the prior year, on a constant currency basis o Top-line growth to be offset by COGS inflationary headwinds and increased marketing investment spe
Slide 17: Capital Allocation Priorities
Capital Allocation Priorities Invest in Pay Down Return Cash to Our Business Debt Shareholders Directed towards brewery Reaffirm our target net Board of Directors modernization and production debt to underlying EBITDA reinstated a quarterly capacity to support innovation ratio of approximately divid
Slide 18: Driving Toward Long-Term Revenue and Underlying EBITDA Growth
Driving Toward Long-Term Revenue and Underlying EBITDA Growth 18
Slide 19: Questions & Answers
Questions & Answers MOLSON COORS enc
Slide 20: MOLSON -
MOLSON -
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