Q4 2024 Anadolu Efes Biracilik ve Malt Sanayii AS Earnings Call Transcript
Key Points
- Anadolu Efes Biracilik ve Malt Sanayi AS (IST:AEFES) achieved consolidated volume growth of 0.9% in 2024, strengthening its market leadership.
- The company maintained a net debt-to-EBITDA ratio of 0.6 times, indicating strong financial health.
- Beer operations showed strong momentum with a 9.9% growth in the last quarter and 8.4% growth for the full year.
- Russia's beer operations delivered low teens growth despite capacity constraints and a competitive environment.
- The company proposed a dividend of TRY1.27 per share, reflecting its commitment to shareholder value.
- Higher operating expenses per hectoliter partially offset the strong gross profitability at the EBITDA level.
- Soft drinks operations faced challenges, with a 2.2% decline in full-year volume.
- Kazakhstan experienced a decline in beer volumes due to severe floods and rising living costs.
- Net income was impacted by higher deferred tax expenses and lower monetary gains compared to the previous year.
- Free cash flow declined due to higher CapEx, increased interest expenses, and monetary losses.
Ladies and gentlemen, welcome to Anadolu Efes full-year 2024 financial results conference call and webcast. My name is Asli Demirel, I'm the Investor Relations and Risk Management Director of Anadolu Efes. Our presenters today, Mr. Onur Alturk, the CEO; and Mr. Gökçe Yanasmayan, the CFO.
(Event Instructions) Unless explicitly stated otherwise, all financial information disclosed in this presentation are presented in accordance with the inflation accounting. Just to remind you, this conference call is being recorded and the link will be available online.
Before we start, I would kindly request you to refer to our notes in our presentation regarding forward-looking statements.
Now I'm leaving the ground to Mr. Onur Alturk, Anadolu Efes, CEO.
Asli, thank you. Good morning and good afternoon, everyone, and welcome to Anadolu Efes full-year
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