Fevertree Drinks PLC – Interim Results

Fevertree Drinks PLC – Interim Results

  • Revenue up 13% to £117.3m (H1 2018: £104.2m)
  • Gross margin of 51.9% (H1 2018: 53.2%)
  • Adjusted EBITDA1 up 8% to £36.7m (H1 2018: £34.0m)
  • Net cash at period end of £104.1m (H1 2018: £56.4m)
  • Diluted EPS up 7% to 24.30 pence (H1 2018: 22.72 pence)
  • Interim dividend up 23% to 5.20 pence per share (H1 2018: 4.22 pence)

Adjusted EBITDA is earnings before interest, tax, depreciation, amortisation, share based payment charges and finance costs

Operational Highlights:

  • Continued growth across all four regions
  • Strengthened our position as the no. 1 brand across the UK mixer category, driving growth in both the Off and On-Trade*
  • Very encouraging momentum in the US with notable national distribution gains in the first half of the year
  • Significant Off-Trade distribution wins secured in key European markets
  • Acceleration of growth in Australia and Canada, reflecting the Group’s growing global footprint
  • Ongoing investment in marketing and capability to support our growth across all regions

* (IRI – Total UK Retail Mixer Market value share – 13 weeks to 16/6/19). (CGA – Packaged Mixers 52 weeks to 18/5/19))

Tim Warrillow, CEO of Fever-Tree said:

The move to long mixed drinks is gathering momentum and starting to win share from beer and wine. Our broad range of high-quality mixers, relationships with spirits companies, brand strength and our growing international distribution network provide us with confidence in the significant global opportunity that lies ahead for the Group.

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