Full Year 2025 Royal Unibrew A/S Earnings Call Transcript
Key Points
- Royal Unibrew AS (OCSE:RBREW) achieved a 5% revenue growth in 2025, aligning with their guidance of 5% to 6%.
- EBIT increased by 12%, reaching the top end of their guidance range of 8% to 12%.
- The company expanded its EBIT margin by 90 basis points to 14%, indicating improved operational efficiency.
- Strong cash generation and a robust balance sheet enabled shareholder returns, including share buybacks.
- The company provided guidance for 2026 of 6% to 10% organic EBIT growth, reflecting confidence in continued performance.
- The market environment remained challenging due to cautious consumer sentiment and ongoing macroeconomic uncertainty.
- The exit from certain lower-margin activities is expected to reduce group revenue by around 3.5% in 2026, impacting the Northern European segment.
- The International segment faced volatility due to shipping timing and distributor inventory movements, affecting quarterly volumes.
- Net revenue in 2025 was impacted by unfavorable currency movements and tariffs.
- The BeLux segment was loss-making in 2025, although strategic initiatives are expected to drive long-term value creation.
Good morning, everyone, and welcome to Royal Unibrew's presentation of our annual report for 2025. My name is Lars Jensen, I'm the CEO of Royal Unibrew; and I'm today joined by our CFO, Lars Vestergaard; and Flemming Nielsen, Investor Relations. We will take you through the highlights of the year, performance across our segments, the financial development, and our outlook for 2026. After the presentation, we will open for questions.
Now, please turn to slide number 2. And before we begin, please note the usual disclaimer regarding forward-looking statements and risk factors that may cause actual results to differ from expectations.
And with that, let's move to slide number 3 and the highlights of 2025. On slide number 3 here, we summarize 2025 in a few key points. '25 was a year where disciplined execution really made the difference. We delivered 5% revenue growth in line with our guidance of 5% to 6% and EBIT increased by 12% at the top end of our 8% to 12% guidance range.
Our EBIT margin expanded by 90 basis points to 14%, reflecting continued improvement in operational
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