Full Year 2024 Royal Unibrew A/S Earnings Call Transcript
Key Points
- Royal Unibrew AS (FRA:0R1) achieved a revenue above DKK15 billion and a total EBIT growth of 20% in 2024.
- The company has expanded its multi-platform in Northern Europe, achieving full coverage in the Nordics and Baltic countries.
- Strong performance in Western Europe, with volumes increasing by 122% in total and by 7% organically.
- The company is relaunching a share buyback program of up to DKK250 million due to strong free cash flow.
- Royal Unibrew AS (FRA:0R1) has revised its sustainability goals, increasing ambitions on CO2 reduction and targeting 100% circularity for packaging materials by 2030.
- The European beverage market is not growing by volume, posing a challenge for overall market expansion.
- The no low alcohol category has seen slowed growth, leading to a de-emphasis in resource allocation.
- In Northern Europe, consumer sentiment remains challenging, limiting growth potential despite a strong market position.
- The company faces integration challenges in the Benelux region, with a focus on stabilizing the business.
- Logistic costs remain higher than pre-pandemic levels, impacting overall profitability.
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Good morning everybody. My name is Lars Jensen and I'm the CEO of Royal Unibrew A/S, and with me today I have our CFO Lars Vestergaard, and we would like to welcome you to this webcast where we will cover the release of our fourth quarter and annual results for 2024. And afterwards we will take your questions.
Now please turn to slide number 3. We will walk you through the business highlights of '24 and our growth drivers as well as our financial performance and outlook for '25.
Now please turn to slide number 4. We will start by looking at the most important highlights from the annual report. Over the past four years, we have almost doubled in size. We have expanded our multi platform in Northern Europe, and we have now full coverage of all countries in the Nordics and the Baltic countries.
Also, we now have a significant footprint in Western Europe and (inaudible) positions in Italy, France, Benelux. So effectively we have step changed
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