Royal Unibrew (RBREW) SEB Nordic Seminar presentation summary

Company overview and market position

• Operates as a leading regional multi-beverage company with 4,000 employees in 15 countries and revenue of DKK 15 billion in 2024.

• Over 90% of revenue is generated in Europe, with 54% from non-alcoholic beverages.

• Listed on Nasdaq Copenhagen with a market cap of approximately DKK 28 billion and no majority shareholder.

Financial performance and outlook

• Achieved organic net revenue growth of 3.2% YTD 2025, outperforming European peers.

• EBIT margin expanded to 14.5% YTD 2025, with organic EBIT growth of 11.4%.

• FY EBIT growth expected at the high end of the 8-12% range, supported by efficiency and margin expansion.

• Long-term targets include 6-8% organic EBIT growth and double-digit EPS growth.

Regional performance highlights

• Northern Europe: Q3 organic volume up 1%, net revenue up 3.3%; Denmark gains value share, Norway sees strong RTD/cider growth.

• Western Europe: Q3 organic volume up 9%, net revenue up 10.9%, driven by BeLux and market share gains in Italy and France.

• International: Q3 volumes up 5.3%, but net revenue down 3.5% due to FX and mix; strong demand in key markets.