MillerCoors Q1 2016
American Light Lagers
Miller Lite and Coors Light• Improved volume performance• Both delivered flat volume for the
first time since the joint venture
2
Premium Regular
Coors Banquet• Gained segment share• Low-single-digit growth
3
Winning in Above Premium
• STRs finished up low-single digits
4
Above Premium—Innovations
5
• Henry’s Hard Orange has the best velocity in the Hard Soda category since the fourth week of the brand’s launch
• Henry’s Hard Ginger Ale is the number-one ginger ale
• Redd’s declined low-single digits
Above Premium—Tenth and Blake
6
Finished Q1 with low-single-digit decline
Below Premium
7
• Decreased mid-single-digits for Q1• Steel Reserve Alloy Series grew double digits
MillerCoors Q1 2016
First Quarter Underlying Net Income
COGS/bbl
Pricing
Sales Mix
Cost
Savings
STW Volume
MG&A
9
Q1 2015 Q1 2016
$304.6M $372.1M
Domestic Net Revenue Per Barrel
Increase due to favorable net pricingand positive sales mix.
% C
ha
ng
e v
s. P
Y
1.5%1.6% 1.7%
10
1.2% 1.5%
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
1.80%
Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016
Performance Results
11
2.3%-1.3%
1.3%22.2%
Profit Net Sales STR Volume STW Volume
Financial Highlights
Total cost of goods sold (COGS) per barrel decreased 5.0 percent for Q1.
Marketing, General and Administrative costs increased 5.3 percent for Q1.
Depreciation and amortization expenses were $117.1 million for Q1.
12
MillerCoors Q1 2016
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