Royal Unibrew (RBREW) AGM 2026 summary

Opening remarks and agenda

• AGM held virtually to increase accessibility for all shareholders, including those abroad.

• Agenda included financial review, board discharge, profit distribution, remuneration, board elections, and proposals on capital structure and governance.

• Legal formalities confirmed; over 70% of share capital represented, with proxies and postal votes exceeding 90%.

Financial performance review

• Revenue grew by 5% to DKK 15.7 billion in 2025; organic revenue growth was 3%.

• EBIT rose 12% to DKK 2.2 billion, with a margin improvement to 14%.

• Net profit reached DKK 1.6 billion, up 6% year-on-year; free cash flow was DKK 1.4 billion.

• Financial gearing at 2x net debt/EBITDA; equity ratio increased to 37%.

• Q1 2026 results in line with guidance; organic EBIT growth expected at 6%-10% for 2026.

Board and executive committee updates

• Board proposes discharge from liability for 2025 and re-election of all current board members.

• Employee-elected board members updated, with one new member and two re-elections.

• Board evaluation via self-assessment confirmed strong cooperation and competencies.