Company Announcement No 18/2024 – November 12, 2024
Key highlights in Q3 2024
Organic volume growth 8% in Q3. Total volume growth of 35%Organic net revenue increased by 8% to DKK 4,083m in Q3. Total revenue growth of 22%Market shares were gained or maintained in most countriesOrganic EBIT growth 25%. EBIT from acquisitions DKK 41m in Q3. Total EBIT growth 33%EBIT margin increased to 16.5% in Q3 (Q3 2023: 15.2%)PepsiCo’s beverage business in Belgium and Luxembourg was transferred to Royal Unibrew on October 1, 2024Agreement signed on October 17, 2024 to acquire Pernod Ricards portfolio of local Nordic brands within spirits, liqueurs and local wine in FinlandAgreement to sell shareholdings in Perla Browary Lubelskie S.A and Ferell sp. Z.o.o. resulting in a tax-free gain of DKK 207m recognized as financial income in Q3 Full year guidance narrowed Financial leverage of 2.1x
Lars Jensen, CEO comments: “I am very pleased with the performance delivered in the third quarter. It confirms the strong momentum we have seen over the past quarters and that we are on track to deliver on our full-year guidance. The profitability improvement was not only driven by strong performance in our beer businesses in ‘International’ and Italy, but also by continued improvements in efficiency.
I am especially proud of how the organization has stayed focused and managed to drive profitable growth across the entire Group. We will continue to drive efficiency improvements, and we have a pipeline of initiatives that will be implemented in the coming years. Also, we continue to strengthen our portfolio of high-quality brands through investments and innovation, which is reinforcing our market position, and it gives me confidence that we have built a strong foundation for future growth and value creation”
Q3Q3ChangeQ1-Q3 Q1-Q3 ChangeFY 2023 20242023 20242023 Volume (million hL)4.73.534%13.210.131%14.1Organic volume growth (%)8-8 5-5 -3Net revenue4,0833,33622%11,4629,48321%12,927Organic net revenue
