Molson Coors Beverage Company · NYSE:TAP
Molson Coors Beverage — Q4 2020 Earnings Presentation
20 slides from Molson Coors Beverage's earnings presentation, Feb 11, 2021
Slide 1: Q4 & FY 2020 Results & Outlook
Q4 & FY 2020 Results & Outlook February 11, 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: Revitalization Plan Well Underway and Delivering Results
Revitalization Plan Well Underway and Delivering Results STRATEGIC ORGANIZATIONAL Build on the Aggressively Expand in Invest Support our strength of grow Above Beyond Beer in our people and our iconic Premium capabilities communities brands 4
Slide 5: Our Iconic Core Brands Continue to Grow Off-Premise and Increase Market Share
Our Iconic Core Brands Continue to Grow Off-Premise and Increase Market Share +8.6% (in the US off-premise market) +6.1 % (in the US off-premise market) Gained share in premium lights in 2020 and achieved stronger US brand health scores 5
Slide 6: Our Above Premium Brands Achieve Record Share in Our Total US Portfolio in 2H 2020
Our Above Premium Brands Achieve Record Share in Our Total US Portfolio in 2H 2020 Seltzer Category Above Premium Beer Category Doubled our US market share in 2020 Blue Moon LightSky: Targeting to achieve double-digit share goal by end #1 New Beer in the US of 2021 Hop Valley: First National IPA Yue
Slide 7: Aggressive Expansion Into New Growth Categories Beyond Beer
Aggressive Expansion Into New Growth Categories Beyond Beer $1Billion Set the Stage to Build Our Emerging Growth Division into a One Billion Dollar Revenue Business by 2023 7
Slide 8: Investing in Our Capabilities and Our Future to Drive Growth
Investing in Our Capabilities and Our Future to Drive Growth • Seltzer production capacity increased by approximately 400%. • LightSky production capacity increased by approximately 400%. • Completed a sleek can production line, capable of manufacturing approximately 750 million sleek cans annually.
Slide 9: Supporting Our People and Our Communities
Supporting Our People and Our Communities • Set a goal to increase the representation among people of color in the U.S. by 25% by the end of 2023 across the country, among salaried employees and in leadership positions, each where market availability shows we have room for improvement. • Increased o
Slide 10: The Revitalization Plan at Work
The Revitalization Plan at Work Even with the In the second half of We expanded We invested We supported unforeseeable 2020, we achieved beyond the in our our people challenges of last a record high beer aisle. capabilities. and our year – we built on portion of our U.S. communities. the strength of
Slide 11: CEO Quote on the Revitalization Plan
“The revitalization plan we put in place in October of 2019 positioned our company well to weather the storms of 2020. We built on the strength of our iconic core and in the second half of 2020, we achieved a record high portion of our U.S. portfolio in above premium products. We expanded beyond the
Slide 12: Chief Financial Officer Tracey Joubert
Chief Financial Officer Tracey Joubert 12
Slide 13: Resilient Consolidated Annual Performance
Resilient Consolidated Annual Performance Europe contributed to -8.7%* +1.1%* -10.0%* 61% of the revenue decline and 83% of our EBITDA decline for NSR NSR/HL – UNDERLYING EBITDA the year. (constant currency) Brand Volume Basis (constant currency) (constant currency) *YOY 2020 vs. 2019 KEY TAKEAWAYS
Slide 14: Disciplined Capital Allocation Fueled Substantial Balance Sheet Improvements in 2020
Disciplined Capital Allocation Fueled Substantial Balance Sheet Improvements in 2020 Reduced our net debt position Reduced trailing 12-month net debt to by $1.1 billion in 2020 underlying EBITDA ratio to 3.5x * Other actions that resulted in this significant improvement: • Paid down both $500 millio
Slide 15: Q4 U.S. NSR Growth on Brand Volumes of 1.9% Over-shadowed by Europe Weakness
Q4 U.S. NSR Growth on Brand Volumes of 1.9% Over-shadowed by Europe Weakness Europe contributed to 92% of the revenue -8.3 %* +3.7 %* -33.6 %* decline and 56% of our EBITDA decline for the fourth quarter. NSR NSR/HL – UNDERLYING EBITDA (constant currency) Brand Volume Basis (constant currency) (cons
Slide 16: 2021 Intended to be a Year of Top-Line Growth and Strong Investment
2021 Intended to be a Year of Top-Line Growth and Strong Investment First Quarter 2021 Outlook Full Year 2021 Guidance • In the US, domestic shipments to be • Mid single-digit net sales revenue growth higher than brand volume trends • Significant year-over-year increases in marketing spend • In Euro
Slide 17: Anticipated Improvements in Financial Flexibility Support Reinstating a Dividend in 2H 2021
Anticipated Improvements in Financial Flexibility Support Reinstating a Dividend in 2H 2021 In 2020, we greatly improved our …which better positions our financial flexibility… company for 2021. Reduced our net debt Leverage ratio of 3.5x • Establishing a target net debt to position by $1.1 billion e
Slide 18: On a Path of Driving Long-Term Revenue and Underlying EBITDA Growth
On a Path of Driving Long-Term Revenue and Underlying EBITDA Growth 18
Slide 19: Questions & Answers
Questions & Answers MOLSON COORS enccy
Slide 20: MOLSEN
MOLSEN
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