RBREW Royal Unibrew A/S

Major shareholder announcement

Major shareholder announcement

COMPANY ANNOUNCEMENT NO 1/2025 - February 20, 2025

According to Section 30 of the Danish Capital Markets Act, Royal Unibrew A/S hereby announces that we have received notification from Invesco Ltd. on changes in The Master Trust Bank of Japan, Ltd. and its subsidiaries’ holding of shares and voting rights in Royal Unibrew A/S which occurred on 18 February 2025, cf. the attached.



For further information on this announcement: 

Investor and Media Relations: Flemming Nielsen, tel (+45) 25 41 68 04

Attachments



EN
20/02/2025

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Reports on Royal Unibrew A/S

ABGSC Food & Beverage Research ... (+2)
  • ABGSC Food & Beverage Research
  • Peter Sehested
Jesper Ingildsen
  • Jesper Ingildsen

Royal Unibrew (Buy, TP: DKK675.00) - Solid Q4e with tough comparables

We expect Royal Unibrew to achieve strong organic EBIT growth in Q4 in the context of tough comparables, although we are slightly below consensus. For 2025, we believe the company will guide for organic growth of 6–8% (consensus c9%), which is in line with its long-term outlook, although this could prove conservative as 2025 progresses. We reiterate our BUY and DKK675 target price.

 PRESS RELEASE

Major shareholder announcement

Major shareholder announcement COMPANY ANNOUNCEMENT NO 1/2025 - February 20, 2025 According to Section 30 of the Danish Capital Markets Act, Royal Unibrew A/S hereby announces that we have received notification from Invesco Ltd. on changes in The Master Trust Bank of Japan, Ltd. and its subsidiaries’ holding of shares and voting rights in Royal Unibrew A/S which occurred on 18 February 2025, cf. the attached. For further information on this announcement: Investor and Media Relations: Flemming Nielsen, tel (+45) 25 41 68 04 Attachments ...

ABGSC Food & Beverage Research ... (+2)
  • ABGSC Food & Beverage Research
  • Peter Sehested
Jesper Ingildsen
  • Jesper Ingildsen

Royal Unibrew (Buy, TP: DKK675.00) - Strong Q3, as expected

Royal Unibrew reported largely in line with our forecasts when adjusted for a positive one-off, with c27% organic EBIT growth, driven by a solid performance across all regions. As expected, based on YTD performance and tough comparables in Q4, the company narrowed its 2024 organic EBIT growth guidance from 14–19% to 15–19% YOY (consensus c17%). We reiterate our BUY and DKK675 target price.

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