Brief: Royal Unibrew Maintains Full-Year Guidance

Royal Unibrew A/S

27/04/2023 11:45

April 27 (Reuters) - Royal Unibrew A/S  RBREW.CO :
    * FULL-YEAR GUIDANCE MAINTAINED
    * FOLLOWING A WEAK SALES-IN DURING FIRST TWO WEEKS OF
JANUARY,
MOMENTUM HAS BUILT THROUGH FEBRUARY AND ESPECIALLY MARCH
    * DE-STOCKING OF BEER AT ITALIAN WHOLESALE CHANNEL CONTINUED
THROUGHOUT Q1
    * WE EXPECT TO SEE FURTHER CHANGES IN CONSUMER PREFERENCES
IN 2023
    * ORGANIC EBIT DECLINE OF 7% IN QUARTER
    * DURING QUARTER, WE HAVE IMPLEMENTED PRICE INITIATIVES IN
ALL OUR
MARKETS
    * VOLUMES FOR Q1 2023 INCREASED BY 5% COMPARED TO Q1 2022
AND
AMOUNTED TO 2.8 MILLION HECTOLITERS
    * PROJECTS SUPPORTING OUR TRANSITION FROM FOSSIL-BASED TO
BIO-BASED FUEL, FROM THERMAL ENERGY TO ELECTRICAL ENERGY, AND
INSTALLATION OF SOLAR PANELS ARE PLANNED IN ALL MARKETS AND ARE
EXPECTED TO BE FULLY IMPLEMENTED BY 2024
    * ORGANIC DECLINE IS CAUSED BY LOWER VOLUME FROM BEER
DE-STOCKING
IN ITALIAN WHOLESALE CHANNEL
    * EXPECT AFFORDABILITY TO REMAIN A KEY FOCUS FOR CONSUMERS
DURING
2023 AND, CONSEQUENTLY, OUR CHANNEL MIX TO BE SLIGHTLY NEGATIVE
    * EXPECT PRIVATE LABEL AND DISCOUNT BRANDS TO GAIN SHARE IN
OVERALL MARKET
    * PROFITABILITY WILL BE SLIGHTLY BACKEND LOADED IN 2023
COMPARED
TO NORMAL SEASONALITY

Source text for Eikon:  ID:nGNEbMgYbJ 
Further company coverage:  RBREW.CO 

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