Anheuser-busch Inbev Sa/nv · EURONEXT:ABI

Anheuser-busch Inbev Sa/nv — Q2 2024 Earnings Presentation

34 slides from Anheuser-busch Inbev Sa/nv's earnings presentation, Aug 1, 2024

Slide 1: 2Q24 Results
2Q24 Results August 1, 2024
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: Agenda
Agenda 01 2Q24 operating performance highlights 02 Update on our strategic pillars • Lead and grow the category • Digitize and monetize our ecosystem • Optimize our business 03 Q&A © AB InBev 2024 – All rights reserved |3
Slide 4: 2Q24 Operating performance highlights
2Q24 Operating performance highlights
Slide 5: Resilient strategy driving consistent results
• Consumer demand for our megabrands drove market share gains in majority of our markets in 1H24 • Revenue growth in ~65% of our markets Resilient strategy driving consistent • BEES Marketplace GMV $530m, +55% results • EBITDA +10.2% with margin expansion of 236bps • Underlying EPS +25% • Investment
Slide 6: 2Q24 operating performance
2Q24 operating performance Total volumes - 0.8% Own beer -1.3% and non-beer +3.4% Total revenue +2.7% Revenue per hl +3.6% EBITDA +10.2% EBITDA margin of 34.6% Underlying EPS of $0.90, +25% Net debt to EBITDA ratio of 3.42x © AB InBev 2024 – All rights reserved |6
Slide 7: Diversified footprint provides unique scale to lead & grow the category
Diversified footprint provides unique scale to lead & grow the category, delivering revenue growth in ~65% of our markets EMEA 13% EBITDA contribution 1 North America +10.0% Organic revenue 21% EBITDA contribution 1 2Q24 +12.7% -1.3% Organic EBITDA Organic revenue 2Q24 +13.8% Organic EBITDA APAC 10%
Slide 8: North America
North America United States Improved market share trend, ongoing 2Q24 premiumization and productivity initiatives deliver double-digit bottom-line growth Total Volume - 3.2% • EBITDA grew by 17.5% with margin improvement of approximately 500bps Net Revenue / hl + 2.0% • Above core beer and Beyond Be
Slide 9: Middle Americas
Middle Americas Mexico Mid-single digit top-line and double-digit 2Q24 bottom-line growth with margin expansion • Core brands delivered mid-single digit volume Total Volume + 1.3% growth Net Revenue / hl + 4.5% Net Revenue + 5.9% Colombia Record high volumes delivered double-digit top- and bottom-li
Slide 10: South America
South America Brazil Record high volumes delivered high-single digit 2Q24 1 top-line and double-digit bottom-line growth with margin expansion • Premium and super premium brands grew volumes Total Volume + 0.6% in the low-teens Net Revenue / hl + 5.4% Net Revenue + 6.1% Argentina • Total volumes dec
Slide 11: EMEA
EMEA Europe High-single digit bottom-line growth with 2Q24 margin recovery • Premium and super premium portfolio makes up Total Volume + 4.2% approximately 57% of revenue • Performance led by Corona, which grew volumes double-digits Net Revenue / hl + 5.6% Net Revenue + 10.0% South Africa Record hig
Slide 12: Asia Pacific
Asia Pacific China Revenue declined by double-digits impacted by 2Q24 soft industry • Continue to invest behind our commercial Total Volume - 7.6% strategy, focused on premiumization, geographic expansion and digital transformation Net Revenue / hl - 0.7% Net Revenue - 8.2% South Korea • Volumes gre
Slide 15: Investing in our brands for the long-term
Investing in our brands for With creativity and the long-term effectiveness Consistent investments in Sales & Marketing Sales & Marketing ($Bn) 27 Lions 7.3 7.3 7.2 7.2 Most awarded 6.9 6.8 beverage company #1 Creativity #1 Effectiveness Most Effective 2019 2020 2021 2022 2023 LTM’24 Marketer © AB I
Slide 16: Investing in our brands for the long-term
Investing in our brands for 8 of top 10 most valuable the long-term beer brands globally 1 Consistent investments in Sales & Marketing Sales & Marketing ($Bn) 1 6 7.3 7.3 7.2 7.2 6.9 6.8 2 7 3 -- 8 4 9 -- 2019 2020 2021 2022 2023 LTM’24 5 10 Notes 1. According to KANTAR BrandZ, 2024 © AB InBev 2024
Slide 17: Megabrands driving efficient growth Led by Corona
Megabrands driving efficient growth Led by Corona +3.3% 2Q24 NR growth +5.6% 2Q24 NR growth 1 ~5 BRANDS per market Making up the majority of volumes & growth Receiving disproportionate S&M investment Note: 1. Outside of Mexico, where Corona commands a premium price. Excludes exports to Australia for
Slide 18: Consistent execution across the category expansion levers
Consistent execution across the 5 category expansion levers Category Core Occasions Participation Superiority Development Premiumization Beyond Beer Above core beer Participation increased Mainstream portfolio High-teens revenue portfolio delivered slight Beyond Beer contributed in approximately 40%
Slide 20: BEES continues to expand and empower our customers
BEES continues to expand and empower our customers 2Q23 2Q24 YoY Monthly Active Users (“MAU”) 3.2m 3.8m +18% Gross Merchandise Value (“GMV”) ~$9.2bn ~$11.7bn +20% 3 Net Promoter Score (“NPS”) 1 59 64 +5 Marketplace GMV $340m $530m +55% 3 Marketplace orders 2 6.2m 8.3m +33% Notes: 1. Reflects weighte
Slide 21: Scaling our digital direct-to-consumer megabrands
Scaling our digital direct- to-consumer megabrands 2Q23 2Q24 YoY Revenue $128m $144m +10% Online orders ~16m ~19m +13% Active Consumers 10.0m 10.9m (R12M) +9% © AB InBev 2024 – All rights reserved |21
Slide 24: Advancing our sustainability priorities to support our commercial vision
Advancing our sustainability priorities to support our commercial vision Climate Action Water Stewardship 4% Improvement in Scopes 2.50 Hectoliter per hectoliter 1 and 2 emissions per (hl/hl) water use efficiency hectoliter of production ratio vs HY23 vs 2.54 hl/hl in HY23 © AB InBev 2024 – All righ
Slide 25: Margin expansion of 236bps EBITDA margin expansion in all five regions
Margin expansion of 236bps EBITDA margin expansion in all five regions APAC Margin evolution North Americas +78 bps EBITDA margin +458 bps margin expansion 1 margin expansion 1 40.3% +236 bps1 34.6% 32.5% Middle Americas +215 bps margin expansion 1 EMEA South America +73 bps 2019 2Q23 2Q24 +380 bps
Slide 26: Optimizing the business – driving a $1.4 billion improvement in FCF
Optimizing the business – driving a $1.4 billion improvement in FCF USD EBITDA growth Interest savings Improving net working capital Efficient capex spend Normalized EBITDA ($Bn) Net interest expense ($Bn) Change in Net Working Capital ($Bn) Net Capex ($Bn) +0.6 +0.2 +0.4 +0.4 10.3 9.7 -1.7 -1.5 -4.
Slide 27: Continued focus on deleveraging as net leverage reached 3.42x
Continued focus on deleveraging as net leverage reached 3.42x Deleveraging through both EBITDA growth and Net debt reduction 4.86x 4.37x 87.4 3.86x 83.4 3.70x 3.42x 75.9 73.8 70.4 20.6 19.7 19.9 19.1 18.0 Jun-20 Jun-21 Jun-22 Jun-23 Jun-24 1 1 Net Leverage (x) Net Debt ($B) LTM EBITDA ($B) Notes 1.
Slide 28: Actively managed debt portfolio with manageable coupon
Actively managed debt portfolio with manageable coupon and no relevant medium-term refinancing needs Well-distributed bond 1 maturity profile with manageable average coupon Diverse currency mix 2 CNY Remaining Bonds Other KRW 12 CAD 4% 3% 3% 1% 10 8 $bn 6 EUR 32% 57% 4 USD 2 0 2042 2029 2032 2026 20
Slide 31: Consistent execution of our strategy
Consistent execution of our strategy Another quarter of Global leader in large and profitable growth growing category • 10.2% EBITDA growth with margin expansion • Market share gain in the majority of our in all five operating regions markets in 1H24 • $0.90 Underlying EPS, +25% vs. 2Q23 • Revenue g
Slide 32: Our brands are uniquely positioned to activate the category in 2H24
Our brands are uniquely positioned to activate the category in 2H24 Summer of Sports Full Year UFC Calendar: © AB InBev 2024 – All rights reserved |32

Anheuser-Busch InBev — Q2 2024 Earnings Presentation on 6ix

Anheuser-busch Inbev Sa/nv — Q2 2024 Earnings Presentation

Slide 1: 2Q24 Results

Slide 2: Legal disclaimer

Slide 3: Agenda

Slide 4: 2Q24 Operating performance highlights

Slide 5: Resilient strategy driving consistent results

Slide 6: 2Q24 operating performance

Slide 7: Diversified footprint provides unique scale to lead & grow the category

Slide 8: North America

Slide 9: Middle Americas

Slide 10: South America

Slide 11: EMEA

Slide 12: Asia Pacific

Slide 13: Update on our strategic pillars

Slide 14: Lead and grow the category

Slide 15: Investing in our brands for the long-term

Slide 16: Investing in our brands for the long-term

Slide 17: Megabrands driving efficient growth Led by Corona

Slide 18: Consistent execution across the category expansion levers

Slide 19: Digitize and monetize our ecosystem

Slide 20: BEES continues to expand and empower our customers

Slide 21: Scaling our digital direct-to-consumer megabrands

Slide 22: Optimize our business

Slide 23: Maximizing value

Slide 24: Advancing our sustainability priorities to support our commercial vision

Slide 25: Margin expansion of 236bps EBITDA margin expansion in all five regions

Slide 26: Optimizing the business – driving a $1.4 billion improvement in FCF

Slide 27: Continued focus on deleveraging as net leverage reached 3.42x

Slide 28: Actively managed debt portfolio with manageable coupon

Slide 29: Underlying EPS grew by 25% to $0.90

Slide 30: Meeting the moment in 2024

Slide 31: Consistent execution of our strategy

Slide 32: Our brands are uniquely positioned to activate the category in 2H24

Slide 33: Shareholder value creation

Slide 34: Q&A