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Royal Unibrew (RBREW) investor relations material
Royal Unibrew Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Achieved organic revenue growth of over 3% in the first nine months of 2025, outperforming European peers and gaining market share, with a strategic focus on growth categories and operational efficiency.
EBIT grew 15% in Q3 2025, with margin expansion and strong commercial execution, especially in Finland and Western Europe.
Earnings per share increased by up to 22% in Q3 and 20% year-to-date; free cash flow developed in line with plans.
Strategy includes exiting low-margin businesses and enhancing operational efficiency, with growth segments now covering 60% of revenue.
Financial highlights
Net revenue increased by 5.3% in Q3 (4.3% organically); gross profit grew by 5.9%.
EBIT margin expanded to 18.1% in Q3 and 14.5% year-to-date; EBIT up 15.1% in Q3.
Adjusted net profit up 18% year-on-year in Q3 and year-to-date, excluding a prior year tax-free gain.
Operating cash flow year-to-date was DKK 1,724 million, up 18% from last year.
Free cash flow reached DKK 973 million year-to-date, slightly down due to one-off proceeds in 2024 and higher CapEx.
Outlook and guidance
Full-year EBIT growth expected at the high end of the 8%-12% range.
Full-year net revenue growth guidance maintained at 5%-6%, with Q4 expected to accelerate.
CapEx projected at 7% of revenue for 2025 and 2026, returning to 5% thereafter.
Exiting low-margin snacks business in 2026 will reduce group revenue by 3.5% but not impact EBIT or volumes.
Consumer environment remains challenging but stable; no material changes in assumptions for the remainder of the year.
2026 revenue impact from low-margin phase-out
BeLux profitability outlook beyond 2025?
Drivers for YTD FCF decline vs Q3 growth
Sales/dist costs: sustainability outlook?
Competitor pricing: impact on market dynamics?
Post-CapEx cycle: ROIC improvement drivers?
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Next Royal Unibrew earnings date
Q4 202525 Feb, 2026
Next Royal Unibrew earnings date
Q4 202525 Feb, 2026
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Frequently asked questions
Royal Unibrew is a leading beverage company based in Denmark, with a rich history spanning over 150 years. The company's primary focus is on the production, marketing, and distribution of a diverse range of high-quality beverages, including beer, soft drinks, and energy drinks. With a presence in Northern Europe, Royal Unibrew operates production facilities and sales offices across Denmark, Finland, Lithuania, Latvia, Estonia, and Italy. Royal Unibrew is headquartered in Faxe, Denmark.
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