Royal Unibrew (RBREW) Deutsche Bank Global Consumer Conference 2025 Presentation summary

Company overview and market position

• Operates as a leading regional multi-beverage company with over 4,000 employees in 15 countries and products in 70+ markets.

• Generates over 90% of revenue in Europe, with more than half from non-alcoholic beverages.

• Holds a market cap of approximately EUR 3.6 billion and is listed on Nasdaq Copenhagen.

• Features a strong portfolio of local and partnership brands, including Faxe Kondi, Royal, Pepsi, Heineken, and Lavazza.

• Has evolved from a local to a regional player over the past decade, expanding through acquisitions and partnerships.

Financial performance and targets

• Reported revenue of around EUR 2 billion in 2024, with consistent growth and a long-term organic EBIT growth target of 6-8%.

• Q1 2025 saw volume and net revenue on par with Q1 2024, 4% EBIT growth, and 25% EPS growth.

• 2025 outlook includes net revenue growth of 5-7% and EBIT growth of 7-13%, factoring in M&A and BeLux impact.

• Maintains a net interest-bearing debt to EBITDA ratio below 2.5x and a dividend payout ratio of 40-60%.

• Capex expected at around 7% of net revenue, with a focus on operational efficiency and margin improvement.

Strategic priorities and growth drivers

• Aims to be the preferred local beverage partner by challenging the status quo in a sustainable, agile way.

• Growth categories prioritized: low/no sugar, energy/enhanced drinks, RTDs/ciders/cocktails, and premium beverages.

• Value creation driven by premiumization, volume growth, operational efficiency, share buy-backs, and M&A.

• Capital allocation focuses on maintaining financial flexibility, investing in organic growth, and disciplined M&A.

• Incentive model aligns with EBIT growth, ROIC, and ESG metrics.