Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to S/51.34, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 13x in the Beverage industry in South America. Total returns to shareholders of 116% over the past three years. Upcoming Dividend • Apr 29
Upcoming dividend of S/5.36 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 29 May 2026. Payout ratio and cash payout ratio are on the higher end at 80% and 85% respectively. Trailing yield: 5.9%. Lower than top quartile of Peruvian dividend payers (11%). In line with average of industry peers (6.5%). Upcoming Dividend • Apr 27
Upcoming dividend of S/5.36 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 29 May 2026. Payout ratio and cash payout ratio are on the higher end at 80% and 85% respectively. Trailing yield: 6.5%. Lower than top quartile of Peruvian dividend payers (12%). In line with average of industry peers (6.5%). 공지 • Apr 02
Cerveceria San Juan S.A. announces Annual dividend, payable on May 29, 2026 Cerveceria San Juan S.A. announced Annual dividend of PEN 5.3565 per share payable on May 29, 2026, ex-date on May 04, 2026 and record date on May 05, 2026. Reported Earnings • Mar 06
Full year 2025 earnings released: EPS: S/5.36 (vs S/4.13 in FY 2024) Full year 2025 results: EPS: S/5.36 (up from S/4.13 in FY 2024). Revenue: S/1.36b (up 11% from FY 2024). Net income: S/525.4m (up 30% from FY 2024). Profit margin: 39% (up from 33% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. 공지 • Mar 05
Cerveceria San Juan S.A., Annual General Meeting, Mar 30, 2026 Cerveceria San Juan S.A., Annual General Meeting, Mar 30, 2026, at 17:00 SA Pacific Standard Time. Location: 717 republica de colombia avenue, san isidro Peru Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to S/57.00, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 15x in the Beverage industry in South America. Total returns to shareholders of 146% over the past three years. Reported Earnings • Apr 06
Full year 2024 earnings released: EPS: S/4.13 (vs S/3.72 in FY 2023) Full year 2024 results: EPS: S/4.13 (up from S/3.72 in FY 2023). Revenue: S/1.23b (up 9.2% from FY 2023). Net income: S/405.1m (up 11% from FY 2023). Profit margin: 33% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 7% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 05
Dividend increased to S/4.13 Dividend of S/4.13 is 11% higher than last year. Ex-date: 15th April 2025 Payment date: 12th June 2025 Dividend yield will be 9.8%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is not adequately covered by earnings (100% earnings payout ratio) nor is it adequately covered by cash flows (96% cash payout ratio). The dividend has increased by an average of 13% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control, which is more than the 6.5% EPS growth achieved over the last 5 years. 공지 • Apr 04
Cerveceria San Juan S.A. announces Annual dividend, payable on June 12, 2025 Cerveceria San Juan S.A. announced Annual dividend of PEN 4.1302 per share payable on June 12, 2025, ex-date on April 15, 2025 and record date on April 16, 2025. New Risk • Mar 14
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 96% Dividend yield: 8.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. 공지 • Mar 04
Cerveceria San Juan S.A., Annual General Meeting, Mar 31, 2025 Cerveceria San Juan S.A., Annual General Meeting, Mar 31, 2025, at 11:00 SA Pacific Standard Time. Location: av republica de colombia 791, floor 2 san isidro, lima Peru Reported Earnings • Aug 20
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: S/292.0m (up 9.9% from 2Q 2023). Net income: S/81.0m (down 19% from 2Q 2023). Profit margin: 28% (down from 38% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Mar 31
Dividend of S/3.72 announced Shareholders will receive a dividend of S/3.72. Ex-date: 16th April 2024 Payment date: 17th May 2024 Dividend yield will be 8.7%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 14% to bring the payout ratio under control, which is more than the 6.3% EPS growth achieved over the last 5 years. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: S/3.72 (vs S/3.87 in FY 2022) Full year 2023 results: EPS: S/3.72 (down from S/3.87 in FY 2022). Revenue: S/1.13b (up 3.6% from FY 2022). Net income: S/364.8m (down 3.8% from FY 2022). Profit margin: 32% (down from 35% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Aug 20
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 98% The company is paying a dividend despite having no free cash flows. Dividend yield: 9.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows. High level of non-cash earnings (411% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.0% average weekly change). Reported Earnings • Aug 19
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: S/265.7m (flat on 2Q 2022). Net income: S/99.8m (up 1.9% from 2Q 2022). Profit margin: 38% (in line with 2Q 2022). Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to S/36.50, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 16x in the Beverage industry in South America. Total returns to shareholders of 34% over the past three years. Reported Earnings • Nov 19
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: S/299.5m (up 6.1% from 3Q 2021). Net income: S/97.5m (up 15% from 3Q 2021). Profit margin: 33% (up from 30% in 3Q 2021). The increase in margin was driven by higher revenue. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. No independent directors (4 non-independent directors). Director Paul D’Silva was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. No independent directors (4 non-independent directors). Director Paul D’Silva was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: S/3.37 (up from S/2.19 in FY 2020). Revenue: S/1.01b (up 42% from FY 2020). Net income: S/330.6m (up 54% from FY 2020). Profit margin: 33% (up from 30% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improved over the past week After last week's 20% share price gain to S/35.00, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 17x in the Beverage industry in South America. Total returns to shareholders of 44% over the past three years. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS S/0.59 (vs S/0.34 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: S/219.7m (up 141% from 2Q 2020). Net income: S/57.4m (up 72% from 2Q 2020). Profit margin: 26% (down from 37% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • Jun 03
Upcoming dividend of S/2.19 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 25 June 2021. Trailing yield: 10%. Lower than top quartile of Peruvian dividend payers (14%). Higher than average of industry peers (2.5%). Is New 90 Day High Low • Feb 09
New 90-day low: S/32.00 The company is down 3.0% from its price of S/33.00 on 10 November 2020. The Peruvian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Beverage industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 21
New 90-day low: S/32.50 The company is down 2.0% from its price of S/33.00 on 23 October 2020. The Peruvian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Beverage industry, which is up 16% over the same period. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS S/0.54 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: S/197.9m (down 2.8% from 3Q 2019). Net income: S/52.5m (down 22% from 3Q 2019). Profit margin: 27% (down from 33% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 21
New 90-day low: S/33.00 The company is down 16% from its price of S/39.20 on 23 July 2020. The Peruvian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Beverage industry, which is down 10.0% over the same period. Reported Earnings • Oct 17
First half earnings released Over the last 12 months the company has reported total profits of S/242.5m, down 16% from the prior year. Total revenue was S/669.8m over the last 12 months, down 18% from the prior year. Is New 90 Day High Low • Sep 29
New 90-day low: S/34.00 The company is down 13% from its price of S/39.00 on 01 July 2020. The Peruvian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Beverage industry, which is down 10.0% over the same period. Reported Earnings • Sep 19
First quarter earnings released Over the last 12 months the company has reported total profits of S/275.7m, down 1.9% from the prior year. Total revenue was S/799.0m over the last 12 months, up 1.3% from the prior year.