C&C Group (CCR) Trading update summary

Acquisition update

• Agreement reached to acquire Asahi UK's wholesale interests, including Nectar Imports Ltd and direct distribution operations, for nominal consideration.

• Acquired businesses will be integrated into Matthew Clark Bibendum (MCB) operations, with a long-term partnership for Asahi brands in the UK.

• All customer and supplier relationships, intellectual property, a leased depot, vehicles, and stock will transfer to the Group.

• Supply arrangements with Fuller, Smith & Turner on-trade estate are included in the agreement.

• Completion is expected in early October, followed by a structured customer transfer to MCB's infrastructure.

Trading update

• Trading for the six months to 31 August 2026 was in line with expectations, with net revenues 3% below last year on a constant currency basis.

• Branded revenues grew 2%, driven by Tennent's and Bulmers brands, favorable weather, and World Cup marketing.

• Premium portfolio, especially Innis & Gunn, showed strong growth.

• Distribution revenues declined 4% due to planned exit from lower margin business and ongoing market contraction.

• Underlying operating profit for H1 expected at €43-44m, with full-year profit on track with market expectations.

Strategic outlook

• Acquisition expected to deliver immediate scale and efficiency, supporting the Group's growth strategy.

• Majority of customer and supplier transitions anticipated to complete in the coming weeks.

• Acquisition projected to make a small positive contribution to MCB's financial performance in FY27.

• Further strategic updates to be shared at Capital Markets Day on 24 September 2026.

• Interim results announcement scheduled for 28 October 2026.