Anadolu Efes Biracilik ve Malt Sanayi AS (FRA:EF41)

Q2 2025 Anadolu Efes Biracilik ve Malt Sanayii AS Earnings Call Transcript

Aug 13, 2025 / 01:00 PM GMT

Release Date Price: €0.22

Transcript

Key Points

Positve

Anadolu Efes Biracilik ve Malt Sanayi AS (IST:AEFES) reported a 5.3% increase in beer group volumes, indicating improved momentum compared to the first quarter.
The company achieved strong volume growth in international operations, with Kazakhstan, Georgia, and Moldova showing significant improvements.
Free cash flow generation was positive in the second quarter, supported by peak seasonality and a working capital optimization program.
The company maintained a strong gross margin of 49% despite a slight contraction, showcasing effective cost management.
Anadolu Efes Biracilik ve Malt Sanayi AS (IST:AEFES) is focused on long-term growth by investing in high-potential categories and expanding its footprint in new markets.

Negative

Operational profitability was pressured due to a deliberate focus on affordability, leading to a decline in EBITDA margin.
The company faced intense competition in Turkey, with promotions and deep discounts impacting market dynamics.
Tourism in Turkey started softer than expected, affecting seasonal volume performance.
Net revenue declined due to deeper discounting in domestic beers and affordability-focused pricing in domestic soft drinks.
The company experienced a decline in free cash flow year-over-year due to lower operational profitability and rising interest expenses.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AEFES.IS - Anadolu Efes Biracilik ve Malt Sanayii AS
Q2 2025 Anadolu Efes Biracilik ve Malt Sanayii AS Earnings Call
Aug 13, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, welcome to Anodole's 2nd quarter 2025 Financial results conference call and webcast. I'm also dean. I'm the investor relations and risk management director of AES. Our presenters today are CEO Mr. Ronal Rurk and our CFO Mr. Ga Mamayer.

The first part of this today's call will be listen-only mode. Afterwards, we will open the floor for a Q&A session. You may submit your questions at any time using the question box on your screen. However, we kindly encourage you to do so before the Q&A session begins to ensure you have adequate time to review and address them.

Unless explicitly stated otherwise, all financial information disclosed in this

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