Corby Spirit and Wine (CSW-A) investor relations material

Executive summary

• Achieved record H1 revenue of $142.3 million, up 12% year-over-year, and Q2 revenue of $66.9 million, up 9%, driven by RTD business expansion and market share gains in spirits.

• RTD business now represents about one-third of revenue, contributed nearly three-quarters of net sales growth, and delivered 28% value growth over 12 months.

• Outperformed the Canadian spirits market in value for 13 consecutive quarters, with significant market share gains across all categories.

• Adjusted Net Earnings for Q2 were $9.1 million (+8%) and for H1 were $20.1 million (+8%), with reported Net Earnings up 12% and 11% respectively.

• Quarterly dividend increased by 4.3% to $0.24 per share, marking the third increase in less than 18 months.

Financial highlights

• Q2 revenue reached $66.9 million, up 9% year-over-year; H1 revenue totaled $142.3 million, up 12%.

• H1 organic revenue rose 13%, with domestic case goods up 14% and export revenue up 38%.

• Adjusted EBITDA for Q2 was $17.3 million (+1%), and for H1 was $37.6 million (+2%).

• Adjusted earnings from operations in Q2 were $13.8 million (+6%); adjusted EPS $0.32 (+8%), reported EPS $0.31 (+12%).

• Cash from operating activities in H1 was $37 million, up $1.5 million year-over-year.

Outlook and guidance

• Expecting normalization in growth in H2 after a strong H1, but still projecting strong full-year revenue growth.

• Focus remains on outperforming the market through investments in core brands, accelerating RTD expansion, and disciplined cost management.

• Ongoing commitment to protecting margins, driving profitable growth, and delivering long-term shareholder value.