Royal UNIBREW A/S (OTCPK:ROYUF)

$ 65.38 0 (0%) Market Cap: 4.26 Bil Enterprise Value: 5.18 Bil PE Ratio: 25.11 PB Ratio: 4.74 GF Score: 95/100

Half Year 2023 Royal Unibrew A/S Earnings Call Transcript

Aug 23, 2023 / 07:00AM GMT

Release Date Price: $86.69

Transcript

Lars Jensen;S;CEO

Royal Unibrew A;President & Member of Executive Board

/- -

Good morning to you all, and welcome to our first half results webcast. I'm Lars Jensen, I'm the CEO of Royal Unibrew. Today, our CFO, Lars Vestergaard, joins us on another line. So we hope that the technology will work as expected.

Now let's turn to Slide #3. The second quarter of '23 marked the first signs of improvement in profitability as we recorded positive organic EBIT growth of 3% in Danish kroner. This was especially driven by a strong performance in our Northern European multi-beverage markets, where EBIT grew organically by 19% and 24% in local currencies in the first half of '23. The organic volume decline of 4% in Q2 was a consequence of tough comparable numbers in Western Europe and International, whereas volumes in Northern Europe increased by 3%. The organic net revenue growth of 5% in Q2 was driven by the implemented price increases while negatively impacted by weaker Norwegian and Swedish krona.

The organic net revenue growth in local currencies was

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