Anheuser-busch Inbev Sa/nv · EURONEXT:ABI
Anheuser-busch Inbev Sa/nv — Q1 2012 Earnings Presentation
23 slides from Anheuser-busch Inbev Sa/nv's earnings presentation, Apr 30, 2012
Slide 1: First Quarter 2012 Results
First Quarter 2012 Results 30 April 2012 © AB InBev 2012 – All rights reserved
Slide 2: Forward looking statements
Forward looking statements There are statements in this document, such as statements that include the words or phrases “outlook”, “will likely result”, “are expected to”, “will continue”, “is anticipated”, “estimate”, “project”, “may” or similar expressions that are “forward looking statements”. The
Slide 3: Solid start to the year
Solid start to the year Focus Brands +3.5% and Global Brands +4.8% Revenue +6.2%, revenue per hl +5.0% on a constant geographic basis EBITDA growth +7.4% organic EBITDA margin expansion +43 bps organic to 38.1% EPS +43.8% to $1.05 USD © AB InBev 2012 – All rights reserved Note: EBITDA and EPS are pr
Slide 4: Consistent EBITDA margin expansion
Consistent EBITDA margin expansion 1000 50.0% 900 45.0% 800 40.0% 700 35.0% EBITDA Margin Margin Growth (pp) 600 30.0% 500 25.0% 400 20.0% 300 15.0% 200 10.0% 100 5.0% 0 0.0% 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 Other Brands Margin Margin Growth Growth Other EBITDABr
Slide 5: Strong Global Brands performance +4.8%
Strong Global Brands performance +4.8% Budweiser Stella ’s Beck’ +3.1% Artois +0.8% +5.9% © AB InBev 2012 – All rights reserved 4
Slide 6: Renovations and Innovations
Renovations and Innovations © AB InBev 2012 – All rights reserved 5
Slide 7: US Results – 1Q12
US Results – 1Q12 Industry +1.3% Weather, employment, innovation AB InBev STRs (Selling Day Adjusted) +1.0% Marginal share decline of 14 bps Drivers of volume and share: Strong commercial plan NFL and Super Bowl Bud Light Platinum Revenue / hl +4.3% (1) © AB InBev 2012 – All rights reserved (1) Reve
Slide 8: Bud Light Platinum – Consumer Insights
Bud Light Platinum – Consumer Insights Awareness 72% Among 21-34 year olds Trial 42% Of Triers have made a Repeat buy Repeat 51% Of Repeaters have bought 2 or more times Awareness figure per internal estimates. Trial and Repeat figures SymphonyIRI Group National © AB InBev 2012 – All rights reserved
Slide 9: Bud Light Platinum – Results
Bud Light Platinum – Results 1.4% share (1) Distribution <90% (1) 1 bottle, 2 packs All regions exceeding targets © AB InBev 2012 – All rights reserved (1) Source: IRI Syndicated data, 4 weeks ended April 1, 2012 8
Slide 10: Positive impact for Bud Light Brand Family
Positive impact for Bud Light Brand Family +64 bps of share © AB InBev 2012 – All rights reserved 9
Slide 11: Spring and Summer 2012
Budweiser activations now getting underway Spring and Summer 2012 © AB InBev 2012 – All rights reserved 10
Slide 12: Michelob Ultra +7.2%
Michelob Ultra +7.2% +10 bps of share © AB InBev 2012 – All rights reserved US Volume growth figures are based on STRs 11
Slide 13: High End Growth of 19% led by Stella Artois
High End Growth of 19% led by Stella Artois +11 bps of share Stella Artois +23% © AB InBev 2012 – All rights reserved US Volume growth figures are based on STRs 12
Slide 14: Renovation and Innovation pipeline is strong
Renovation and Innovation pipeline is strong © AB InBev 2012 – All rights reserved 13
Slide 15: Beer Brazil Results – 1Q12
Beer Brazil Results – 1Q12 Industry +3.0% Positive impact of 7.5% minimum wage increase AB InBev Beer volumes +4.0% Share +70 bps Record consumer preference Roll-out of innovations Growth in North/Northeast Revenue / hl growth of +2.1% (1) © AB InBev 2012 – All rights reserved (1) Revenue / hl figur
Slide 16: Budweiser in Brazil
Budweiser in Brazil On track to be the largest international premium brand in the country © AB InBev 2012 2011 – All rights reserved 15
Slide 17: China Results – 1Q12
China Results – 1Q12 Industry Impacted by poor weather AB InBev Volume +3.2% Focus Brands +9.1% Solid Budweiser and Harbin performance Revenue / hl growth of 9.4% © AB InBev 2012 – All rights reserved 16
Slide 18: Western Europe Results – 1Q12
Western Europe Results – 1Q12 Volume growth in Germany Share gains in Belgium, Germany Solid Focus Brand performances Jupiler Beck’s, Hasseröder and Franziskaner Budweiser, Stella Artois Cidre EBITDA margin improvement © AB InBev 2012 – All rights reserved 17
Slide 19: Central and Eastern Europe Results – 1Q12
Central and Eastern Europe Results – 1Q12 Challenging markets Russia – economy, taxes Ukraine – weather Strong Bud growth in Russia, launch in Ukraine Focus on value share, premiumization, and off-trade execution © AB InBev 2012 – All rights reserved 18
Slide 20: Latin America South Results – 1Q12
Latin America South Results – 1Q12 Zone beer volumes +2.8% Zone non beer volumes +3.8% Argentina beer volumes +4.7% Continued strength of Quilmes +4.5% Stella Artois +5.5% EBITDA +22.3% © AB InBev 2012 – All rights reserved 19
Slide 21: Below EBIT Results – 1Q12
Below EBIT Results – 1Q12 Net Finance Costs of -380 million USD • Interest reduction of 209 million USD vs. 1Q11 due to lower debt levels and lower coupon Income tax expense • Normalized effective tax rate improved from 22.2% to 17.0% Earnings Per share • Normalized EPS improved 43.8% to $1.05 USD ©
Slide 22: In Summary
In Summary Solid top line performance Focus Brands +3.5%, Global Brands +4.8% • Industry improvement in the US and Brazil • Bud Light Platinum Strong Cost of Sales management Good EBITDA and EBITDA margin growth Solid Earnings Per Share growth © AB InBev 2012 – All rights reserved 21
Slide 23: © AB InBev 2012 – All rights reserved
© AB InBev 2012 – All rights reserved