Royal Unibrew (RBREW) AGM 2025 summary

Opening remarks and agenda

• AGM held virtually to reach a broader, especially international, shareholder base, with all relevant materials available online.

• Formalities confirmed, with 64% of votes represented and proxies/postal votes covering over 90% of those.

• Agenda included business review, annual report approval, profit distribution, remuneration, board elections, auditor appointment, and other business.

Financial performance review

• 2024 marked by record earnings, strong cash flows, and net revenue up 16% to DKK 15 billion; organic revenue growth was 6%.

• EBIT rose 20% to DKK 1,968 million, with margin up to 13.1%; net profit reached DKK 1,464 million.

• Free cash flow improved to DKK 1,434 million; net debt decreased by DKK 700 million, and financial leverage reduced to 2.2x EBITDA.

• Share price outperformed industry peers and the Danish C25 index.

Board and executive committee updates

• Board proposes dividend of DKK 15 per share (51% payout ratio) and a share buyback program of DKK 250 million.

• Remuneration for board and executive management increased, with new fee structures for committee roles.

• All AGM-elected board members up for re-election, with one new candidate proposed to enhance FMCG expertise.

• Board diversity target of at least 40% of each gender; with new election, gender balance among AGM-elected members will be 50/50.