2014/fourth quarter earnings announcement february 10, 2015 · february 10, 2015 ® premium lights...
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2014/FOURTH QUARTER EARNINGS ANNOUNCEMENTFEBRUARY 10, 2015
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Premium Lights
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Coors Light• Significant brand restage
• New visual identity• New packaging design• New TV advertising
Miller Lite• Grew low-single digits
and industry share in Q4
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Premium Regular
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Coors Banquet• Eighth straight year of growth
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Winning in Above Premium
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• MillerCoors Above Premium portfolio represents 14.9% of MillerCoors total domestic net revenue, up nearly 2.9% vs. 2013
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Above Premium – Innovations
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Above Premium – Craft
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Below Premium
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Winning with Quality
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Domestic Net Revenue Per Barrel
A result of favorable net pricing and positive bran d mix
10
% C
hang
e vs
. PY
0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00%4.50%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014
% Change vs. Prior Year
3.3%3.1%4.1%2.6%4.0% 3.6% 2.5% 2.0%
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Pricing
Sales Mix
Cost Savings
Volume
COGS
MSG&A
FY* 2013 Q4 2013
Fourth Quarter Underlying Net Income Decreased 11.8 Percent
$241.9M$1.290B
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Q4 2014
$213.3M
FY 2014
$1.328B
*Full Year
FY Q4
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STR and Net Revenue Performance Results
0.6%
FY* STRVolume
2.5%
$7.848B $1.782B
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Q4 STRVolume
1.7% 1.1%
*Full Year
FY Net Revenue
Q4 Net Revenue
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Domestic Net Revenue Per Barrel
Third-party brewing volumes were up 0.8% for 2014 and 1.9% for Q4.
13
% C
hang
e vs
. PY
0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00%4.50%
Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014
% Change vs. Prior Year
3.3%3.1%4.1%2.6%4.0% 3.6% 2.5% 2.0%
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• Total Cost of Goods Sold per barrel increased
2.6% for the full year and 3.0% for Q4.
• Marketing General and Administrative costs
decreased 0.8% for 2014, increased 1.8% for Q4.
• Depreciation and amortization expenses for 2014
were $311.1 million and $78 million for Q4.
Additions to tangible and intangible assets in
2014 totaled $401.1 million, 138.9 million in Q4.
MillerCoors Year End and Fourth Quarter 2014 Financial Highlights
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